Business headlines

VW CHAIRMAN RESIGNS IN POWER STRUGGLE
Ferdinand Piech, the chairman of VW, Europe's biggest carmaker, resigns after a power struggle with his chief executive.

MUSIC BOSS TOPS BRITAIN'S RICH LIST
Warner Music owner Len Blavatnik is Britain's richest man with a £13.17bn fortune, taking top spot from the Hinduja brothers, according to the Sunday Times.

'INCONSISTENCY' IN AIR DUTY REFUNDS
Parents due partial refunds on their children's air tickets face a variety of ways to claim the money.

NASDAQ AND S&P 500 AT RECORD HIGHS
The Nasdaq and S&P 500 close at new record highs after US tech firms report strong first quarter profits.

'UP TO 40% FACING MORTGAGE TRAP'
Around 40% of homeowners with mortgages could struggle to move because they would not qualify for a new loan under tough new rules

HSBC CONSIDERS MOVING HQ OUT OF UK
HSBC says it is considering whether to move its headquarters out of the UK, following "regulatory and structural reforms" in the banking industry.

COMCAST ENDS TIME WARNER CABLE DEAL
US cable giant Comcast abandons its planned $45bn purchase of Time Warner Cable after failing to convince regulators the deal would not harm competition.

'BIG, BIG PROBLEMS' FOR GREEK DEAL
Eurogroup head Jeroen Dijsselboem warns that "big, big problems" need to be solved before any Greece debt deal can be agreed.

GOVERNMENT REDUCES LLOYDS STAKE
The government sells more shares in Lloyds, raising about £586m and taking its stake in the bank to below 21%.

AMAZON WEB SERVICES 'GROWING FAST'
Amazon says its web services business generated sales of $1.57bn in the first quarter of the year and is profitable.