Rolls-Royce 'set to axe 4,000 jobs', G7 summit ends in disarray, and more top news

Rolls-Royce is planning to announce this week that it is axing more than 4,000 jobs, the Sunday Times reports. CEO Warren East is expected to mention the job cuts, which would largely affect middle managers and back-office staff, at an analyst briefing on Friday. Since joining Rolls-Royce in 2015, East has been on a mission to reduce costs and has so far cut more than 5,500 jobs. The firm told the BBC that it would not confirm or deny reports of the upcoming redundancies.

Also … more than 5,000 jobs are at risk at Poundworld as the discount retailer has entered administration following the failure of rescue talks.

The G7 summit ended in disarray after US President Donald Trump withdrew his support for the joint communiqué. The communiqué, or statement, was signed by leaders from the US, Canada, the UK, France, Germany, Italy and Japan, to show they agreed to the need for “free, fair, and mutually beneficial trade” and the importance of fighting protectionism. However, Trump subsequently backtracked, withdrawing his support and holding a press conference to attack the trade policies of other countries. Just last week, and as part of his so-called "America First" strategy, Trump imposed tariffs on imports of aluminum and steel from Canada, Mexico and the European Union to the United States.

The UK's biggest firms will have to disclose the pay gap between their bosses and average workers, under new government plans. Every year, UK-listed companies with more than 250 employees would be required to publish and explain this "pay ratio", said business secretary Greg Clark. The move follows years of outrage from both shareholders and the public over the massive pay packets and bonuses of chief executives at firms such as Persimmon, WPP, BP and Shell. If approved by parliament, the new regulations would come into effect from January 2019.

Hiring is on the up in the UK, with 18% more people starting new jobs this April than in the same month last year. Hiring increased the most from March to April in Wales, the North East and London, according to the latest UK Workforce Report from LinkedIn. On the other end of the scale were Northern Ireland, the East Midlands, and the West Midlands, which recorded less impressive hiring increases – but increases nonetheless. The report also reveals that, for the third month in a row, the UK lost more talent overseas than it gained.

Anger and confusion have been the main reactions to Mark Carne – the outgoing boss of Network Rail – having been appointed a CBE in the Queen's Birthday Honours list. Carne, who is stepping down from his role this year, was recognised for his services to the railway industry. Politicians and passenger groups are less than pleased about the move, given the widespread delays and cancellations that have occurred since a major overhaul of rail timetables took effect on 20th May.

Idea of the Day: While we may be good at extending a helping hand to others, most of us need to get better at asking for help when we need it ourselves, says University of Houston Professor Brené Brown.

“Need is the most beautiful compact between humans.”

This article has been updated. From earlier: More than 130,000 drivers will be impacted by London's Ultra-Low Emission Zone charge every day by 2021.

What's your take? Join the conversations on today's stories in the comments.

— Emily Spaven