Out of office: Your essential round-up of the latest business news

The General Court of the European Union, Europe’s second-highest court, annulled a decision by the European Commission to allow state aid to be granted to airlines KLM and TAP. The two airlines were granted state aid by the Dutch and Portuguese governments respectively, a move which Ryanair, the discount airline led by Irishman Michael O’Leary, challenged. Ryanair welcomed the ruling and called it “an important victory for consumers and competition”.

The office of the attorney general of the state of New York announced that it was launching a criminal probe into the Trump Organisation, the company owned by former US president Donald Trump. The attorney general’s office, headed up by Letitia James, has been investigating whether the Trump Organisation falsely reported property values to secure loans and obtain economic and tax benefits. This announcement followed two other criminal probes launched into the former Republican president.