1 Shoppers are facing increases in food prices because of a wet winter that left fields underwater, farmers have warned. Last winter was one of the ten wettest on record in the UK, which left autumn-sown crops rotting in flooded fields and has stopped farmers getting seeds into the ground this spring.

2 Tesla is to cut more than 14,000 jobs as Elon Musk’s groundbreaking electric car company feels the heat of a global price war with Chinese rivals at the same time as stalled demand for zero-emission vehicles.

3 Thames Water has less than two months to persuade the regulator that it has a feasible plan for its survival. The troubled water company must present its plans to Ofwat before the regulator’s publication on June 12 of its draft determinations that set out what households will pay in water bills through to 2030. The date effectively is D-Day for whether Thames Water becomes an investable proposition.

4 More than 170 partners in CVC Capital Partners will see their combined stakes in the company valued at €10 billion (£8.54 billion) when it lists on the Amsterdam stock exchange.

5 FTSE 100 companies are increasingly seeking shareholder support for more lucrative executive pay policies, analysis has found, as boardrooms seek to compete with the higher awards offered in America.

6 A recovery in global deal-making helped Goldman Sachs to beat profit expectations, with its investment arm enjoying its best quarter in two years. The American banking group reported net earnings of $4.1 billion in the three months to March 31, well ahead of analyst forecasts, and up 28 per cent on the $3.2 billion reported in the same quarter last year. Shares rose 3.6 per cent to $403.64 on the news.

7 Blackstone, the world’s largest private equity firm, is in advanced talks to buy the abandoned site of Britishvolt’s proposed gigafactory in Northumberland, which it wants to turn into a giant data centre campus.

8 Inchcape, the international automotive vehicle distribution group, is to quit the UK with the sale of its 80 motor dealerships for £346 million in cash. The deal with Group 1 Automotive, one of the US car dealers showing great interest in the British motor trade, will prompt a £100 million share buyback by Inchcape.

9 Apple has lost its crown as the world’s largest phone maker to Samsung after shipments of the iPhone fell nearly 10 per cent in the first three months of the year

10 A ban by the United States and Britain on Russian metals trading has triggered a rise in the prices of aluminium, copper and nickel.