Boohoo's Bonus Cut, Major Companies' Election Stance, and FTSE 100 Shake-Up

UK fast-fashion retailer Boohoo cancels £3M in bonuses for top executives amid losses. St James's Place is poised to drop from the FTSE 100 due to a 55% drop in shares. UK Water regulator Ofwat plans fewer fines for stressed companies. Leading UK firms remain neutral on upcoming elections.

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- Boohoo cancels bonuses worth 3 million stg for top executives amid widening losses - St James's Place expected to drop out of FTSE 100

- Regulator Ofwat plans to cut fines to help stressed UK water companies - Leading UK companies refuse to back Tories or Labour before election

Overview - UK fast-fashion retailer Boohoo has cancelled annual bonuses worth 3 million pounds and ditched a new pay scheme for its top bosses after talks with shareholders amid widening losses.

- St James's Place is expected to drop out of the FTSE 100 after shares in the wealth manager fell more than 55% over the past year. The London Stock Exchange said in its indicative quarterly review that SJP was poised to be demoted from the blue-chip index on June 5. - Water regulator Ofwat is drawing up plans for a special "recovery regime" for Thames Water and other financially stressed UK water companies that could receive fewer or no regulatory penalties in a bid to avoid nationalisation.

- Some of the UK's biggest companies are refusing to back either of the main parties ahead of the country's general election, as businesses attempt to avoid being drawn into partisan politics. (Compiled by Bengaluru newsroom)