Wednesday newspaper round-up: Arcadia, Sainsbury's boss, Woodford, NSF

Sir Philip Green has agreed to pump an additional £25m into Arcadia Group’s pension fund, in a deal with regulators that could pave the way for a rescue restructure of his fashion retail empire. Arcadia Group has handed security over additional property assets to the fund in response to a demand from the Pensions Regulator that the former billionaire inject another £50m to fill the group’s pension black hole. - Guardian

The chief executive of Sainsbury’s is “in the money” once again with a £251,000 increase in pay despite the collapse of a planned merger with Asda. Mike Coupe’s total pay increased to nearly £3.9m, as his annual bonus rose nearly 40% to £593,000, according to the company’s annual report. – Guardian

Neil Woodford has been urged to show "contrition, humility and sympathy" by waiving up to £6m in fees after he blocked investors from withdrawing their money from his flagship fund amid calls for the financial watchdog to step in. The troubled fund manager was forced to suspend trading in the fund after a string of investments crashed and outflows accelerated to almost £10m a day in May. – Telegraph

Autonomy founder Dr Mike Lynch will today come face to face with his arch rival in the High Court when former HP chief executive Meg Whitman gives evidence in the biggest civil fraud trial in English legal history. Ms Whitman frequently clashed with the British technology executive during their time working together at HP following the $11bn (£8.7bn) acquisition of Dr Lynch’s software business Autonomy in 2011. – Telegraph

Non-Standard Finance’s £1.1 billion hostile takeover for Provident Financial, its bigger rival, collapsed last night after a decision to block the deal by the financial regulator. The sub-prime lender said in a statement that it would “lapse” its offer after learning that the Prudential Regulation Authority had decided that it would not meet minimum regulatory capital levels. – The Times

Prized BP gasfields off the coast of Senegal should be subject to an investigation after allegations of suspicious payments by a former owner to the brother of the country’s president, opposition politicians have said. The British oil major first bought into the fields in 2016 and it said last year that it was pressing ahead with a huge project to develop the gas. – The Times