Paul Fisher, an official at the Bank of England, has said that the UK recovery is trailing behind that seen in the US and claimed that the central bank would most likely have to keep monetary policy loose for longer, according to The Times.

Former HBOS frontman James Crosby has been formally stripped of his knighthood for his responsibility in the near-collapse of the bank, reports The Guardian. He had asked for the honour to be removed in April but it was only confirmed by the London Gazette yesterday.

The Guardian says that 80% of shareholders at oil group Afren rejected a pay deal that would see chief executive officer (CEO) Osman Shahenshah receive £3.4m in remuneration. According to proxy voting agency Manifest, it was the third-largest shareholder revolt since it began track annual general meetings (AGMs) in 1996.

Facebook’s first AGM on Tuesday saw the social-network group experience a barrage of complaints from shareholders over its depressed stock price, with CEO Mark Zuckerberg even expressing his own disappointment, writes the Financial Times. “Unfortunately we don’t really have control over what the share price is, especially in the short term […] We’ve all been disappointed with the performance,” he said.

Land Securities is swapping its auditor for the first time since the real estate group was formed 69 years ago, dropping PricewaterhouseCoopers and appointing Ernst & Young, writes The Independent.

The complicated and expensive Chinese visa system in Britain means that the country is losing business every minute, according to China’s biggest travel agency China International Travel Service, writes The Telegraph.