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00:00Hello and welcome to the latest Business Brief on Thursday the 22nd of May.
00:05UK government borrowing hit £20.2 billion last month, the fourth highest April total on record.
00:11The figure was £1 billion higher than last year and well above forecasts of £17.6 billion.
00:16The ONS said rising costs and public sector pay drove the £4.2 billion jump in departmental spending.
00:23It means the Chancellor borrowed more than expected as cost pressures continue to mount.
00:28EasyJet has reported a pre-tax loss of £394 million for the six months to March.
00:34That's up from £350 million last year, but the airline says the later timing of Easter means it's actually a slight improvement.
00:41Winter losses are common in the aviation industry, which typically makes most of its money over the summer.
00:47BT has raised its target for full fibre broadband rollout by 20%, aiming to reach up to 5 million UK premises this financial year.
00:55The network already covers over 18 million homes, with a long-term goal of £25 million by the end of 2026.
01:02Annual revenues fell 2% to £20.4 billion, hit by weaker handset sales and global trading.
01:08But cost-cutting helped adjusted earnings edge up by 1% to £8.2 billion.
01:13Jobs are at risk at Harvey Nichols, the luxury retailers considering axing its hampers and own-brand food lines.
01:20Around 70 rolls, 5% of its workforce, could go in the major restructure.
01:26Seven Trent's profits have surged 59% last year, just before the firm hiked customer bills by more than a fifth.
01:32The water giant, which serves the Midlands and parts of Wales, raised average bills by £99 in April.
01:38It says the extra cash will help fund £15 billion of upgrades over the next five years.
01:43But the rise comes amid continued public anger over sewage spills and rising exec pay across the water sector.
01:50And an important South Yorkshire steel firm has avoided collapse for now, after a potential buyer was found.
01:56Speciality Steel UK, part of Liberty Steel, employs 1,450 people and was facing a winding-up petition.
02:04The High Court has now given the company eight weeks to complete the sale and avoid insolvency.
02:08A judge adjourned the case until July 16th, after urgent meetings with a potential buyer.
02:14That's all for today. Thank you for listening.