Business Live: Co-op group chairman resigns

Key points

  • Co-op group chairman resigns
  • G4S repays government over tagging contract
  • Easyjet reports a 50% rise in annual profits

Live text

Reporting:

  • Anthony Reuben 
  • Edwin Lane 
  • Ben Morris 

STANDARD 0600

Ben Morris, Business Reporter

Good morning from the Business Live team. It's looking like a busy morning with, among other things, results coming up from Easyjet and an interview with the chief executive on the Today programme later. You can e-mail bizlivepage@bbc.co.uk or tweet @bbcbusiness.

STANDARD 0600

Edwin Lane, Business reporter, BBC News

Good morning all. There's more fallout from the Co-op Bank drugs allegations to discuss this morning, plus the news that Npower has topped the table for customer complaints to energy companies. Get in touch with your thoughts.

STANDARD 0601 CO-OP PROBE

The Co-op has launched an investigation following allegations the former chairman of Co-op Bank bought drugs. All the questions have been on whether Paul Flowers was even suitable for the job in the first place. The former trade minister Lord Digby Jones is on the Today programme in about 15 minutes to give his views.

STANDARD 0610 DODGY DISCOUNTS

Radio 5 live

The consumer group Which? says 10% of supermarket discounts are not real. Richard Lloyd from Which? gave these two examples to Radio 5 live: "Products were sold at a higher price for a very short period before being discounted for weeks," and "Yogurt on offer for £4 for two just hours after it was available singly for £1.50."

STANDARD 0611 ENERGY COMPLAINTS

gas

Npower drew more complaints than any other energy company in April to June this year, according to Consumer Focus - that's five times more than the best performing company SSE. Consumer Focus calls that "unacceptable".

STANDARD 0620 DODGY DISCOUNTS

Radio 5 live

Richard Lloyds from Which? also says: "We've got more special offers in this country - if you go around supermarkets in Europe there's nowhere near the number of special offers that you have in this country. About 40% of products at any one time are on some sort of special offer."

STANDARD 0622

Radio 4

More on the scandal surrounding former chairman of Co-op Bank Paul Flowers. Former director general of the CBI, Lord Digby Jones tells Tanya Beckett on Today that more regulation and background checks will not necessarily mean better executive appointments. He thinks independent mentors would be very helpful for top managers.

STANDARD 0625 STRUGGLING GRADUATES

The Financial Times makes a big splash on its front page with the news that the most recent class of graduates in England is earning 12% less that its counterparts before the financial crisis were at the same stage of their careers, and that they are carrying 60% more debt.