The government is preparing a £50m bailout for Ineos’s Grangemouth plant, after Jim Ratcliffe asked for help in October

Chemical companies owned by the billionaire Jim Ratcliffe had already been granted as much as £70m in UK state aid in the past four years, before this week’s £50m government bailout for its Grangemouth plant in Scotland.

State aid to Ineos in the last year alone was between £16m and £38m, according to government disclosures published this week. Since August 2022 the company has received between £28m and £70m.

From retailers to banks, carmakers to councils, the bold pledges for carbon-neutral economies are being watered down or scrapped

Almost a year since Donald Trump returned to the White House with a rallying cry to the fossil fuel industry to “drill baby, drill”, a backlash against net zero appears to be gathering momentum.

More companies have retreated from, or watered down, their pledges to cut carbon emissions, instead prioritising shareholder returns over climate action.

Bremen lawyers say three unnamed people charged with crimes relating to bankruptcy and misrepresentation of bank’s finances

German prosecutors have brought criminal charges against three people involved in running Greensill Bank for their role in the 2021 collapse of the lender.

The Bremen public prosecutor’s office said the unnamed people were charged with crimes related to the bankruptcy, as well as the misrepresentation of the German bank’s finances.