Thursday, March 31, 2022

China's WeChat suspends some accounts linked to NFTs

The popular messaging app said the move was in line with "relevant national regulations".

Sri Lanka: Protest at president Rajapaksa's home turns violent

Tear gas was fired on demonstrators protesting against dire food, fuel and power shortages.

How we pay the bills: Skipping meals and fewer car journeys

Three households facing a rise in energy costs tell the BBC how they will make it work.

Energy price cap: Bill shock for millions as rises hit

A host of essential bills - dominated by energy - are rising from now with warnings of more to come.

Five reasons why prices and bills are going up

The soaring cost of living is affecting millions of people in the UK. These five charts explain why.

Energy price cap: Expert money hacks to tackle rising bills

Four experts share practical ways to protect your finances and soften the blow of rising bills.

Energy price cap rise: 'I've taken a second job'

Daniel Cooke, a construction site manager from Somerset, has taken a second job to pay rising energy bills.

Facebook in 'bare-knuckle' fight with TikTok

The Washington Post alleges a consultancy was paid by Meta to promote stories of dangerous TikTok trends.

House price growth at 17-year high, says Nationwide

Property values continue to surge despite cost of living pressures, the building society says.

Wednesday, March 30, 2022

Ukraine war: Oil prices slide as Biden weighs huge reserves release

The potential move could be the largest ever release of oil reserves in US history.

Ronin Network: What a $600m hack says about the state of crypto

The hack of the Ronin Network crypto platform leaves thousands out of pocket and plenty of questions.

'We're putting up prices to cope with VAT rise'

With hospitality businesses facing soaring costs, some are warning they will have to increase prices.

Ukraine conflict: Russia to allow unauthorised imports from West

The decision is in response to Western sanctions and surging inflation since the war in Ukraine.

P&O Ferries: UK plans to block ferries that don't pay minimum wage

Grant Shapps has set out new industry measures after the sacking of 800 P&O Ferries staff.

Germany warns on gas supply over Russia payment row

Germany takes the first step towards gas rationing as a payments row with Russia escalates.

Tuesday, March 29, 2022

Afghanistan: World Bank freezes projects over girls' school ban

The Taliban's decision to halt the reopening of girls' secondary schools has been widely condemned.

'We see the queue for food growing day by day'

An anti-hunger charity sees unprecedented demand for surplus food during cost of living crisis.

Going cashless would be a big problem for millions - RSA report

Only 17% of payments are in cash but millions would struggle without notes and coins, a report says.

Grieving families face extra fees and paperwork, says consumer group

A consumer group calls for the end of extra charges and overwhelming paperwork when a loved one dies.

Unions criticise plans to tackle fire and rehire in wake of P&O sackings

The TUC said government plans in the wake of the P&O sackings "lack bite".

Call to spend or deposit £20 and £50 paper notes

People are being urged to spend or deposit paper notes as they are replaced with plastic ones.

P&O Ferries says sacking U-turn would cause collapse

P&O's boss hits back at the transport secretary after he called on the company to reverse its decision.

Monday, March 28, 2022

Roman Abramovich suffered suspected poisoning at talks

The billionaire suffered suspected poisoning at talks on the Ukraine-Belarus border, sources close to him say.

Ukraine crisis: Why India is buying more Russian oil

Imports of cheaper Russian oil by India are rising, despite calls for Russia's economic isolation.

Cadbury shrinks size of Dairy Milk sharing bar

Despite the size of the chocolate bar getting 10% smaller, the £2 price tag will remain.

Eagle and Sunak on poverty claims after Spring Statement

Rishi Sunak says his Spring Statement measures are a "progressive" package that will not add to inflationary pressures.

Energy strategy delayed amid Treasury concerns over costs

The PM promised the plan "in days" in early March, but the BBC understands the Treasury is worried about costs.

Sainsbury's urged to up pay to match cost of living

A group of investors wants the supermarket to ensure pay covers the rising cost of living.

Government no longer majority owner of NatWest

The Treasury sells £1.2bn of shares back to NatWest Group after it bailed out the bank in 2008.

Sunday, March 27, 2022

Shanghai Covid: Oil prices slide after city starts lockdown

The nine-day lockdown of Shanghai is China's largest since the coronavirus outbreak began.

Big regional divide on some energy bill charges

Rises in standing charges on electricity bills will vary significantly according to where people live.

Ferry firms to meet officials over P&O fallout

Bosses from DFDS and Stena Lines will meet transport officials to discuss P&O's sacking of staff.

Canada pledges to help countries stop using Russian oil

Canada says its can provide more oil, gas and uranium to help solve the global energy crisis.

M&S sorry after shopper got 100 wrong parcel texts

Marks & Spencer apologises for sending customers photos and locations of other people's parcels.

Ukraine war: Chernobyl’s vodka producer remains defiant

A company that produces Chernobyl’s ‘Atomik vodka’ releases new products, donating profits to Ukraine's refugees.

Saturday, March 26, 2022

Sizewell C nuclear power station: Government to take 20% stake

French developer EDF will also take a 20% stake in the £20bn power station at Sizewell, in Suffolk.

P&O Ferries: Protests at ports against sackings

There are safety concerns over using cheaper replacement crews, as one ship is found to be "unfit to sail".

Friday, March 25, 2022

HMRC must do more to recover taxes unpaid due to pandemic, say MPs

The total tax debt in the UK now stands at £39bn, more than double what it was before the pandemic.

Why patients are flocking to India for surgery

There has been a sharp growth in medical tourism to India but the sector needs better regulation.

P&O Ferries ship detained over crew training concerns

The European Causeway ferry is detained after 800 of the firm's staff were sacked without notice.

'Fraudsters stole everything, even my house'

Pensioner Graeme Stagg says that fraudsters destroyed his life by taking everything.

Spotify stops streaming in Russia over safety concerns

New laws threaten jail for people accused of spreading "fake news" about Russia's armed forces.

Russia considers accepting Bitcoin for oil and gas

'Friendly' countries may be allowed to pay for energy with crypto-currency amid widespread sanctions.

Thursday, March 24, 2022

Spring Statement: Is this really the biggest personal tax cut for 25 years?

The Spring Statement cut some taxes but, overall, the government has raised taxes in the past year.

Europe agrees new law to curb Big Tech dominance

Under the rules major firms like Apple and Google would have to open up their systems to rivals.

Diary giant warns of supply issues unless wages rise

The UK's largest diary says its farmers are struggling to cover costs due to rising production prices.

Electric car chargepoints to rise 10-fold by 2030 says DfT

The number of chargepoints will be five times more than the number of fuel pumps today, DfT says.

US jobless claims at lowest level since 1969

The last time the jobless claims were this low America landed a man on the moon. But is the economy headed back to the 1970s?

Wednesday, March 23, 2022

Jeffrey Epstein's private islands put up for sale

The financier was accused of sexually abusing girls on one of the two Caribbean islands on sale.

Ukraine war: Fortnite owner Epic Games raises £37m for humanitarian efforts

Video game developers, publishers and players come together to raise millions for Ukraine.

CEO Secrets: 'Don't be trapped by your job title'

Roberta Lucca, co-founder of video games company Bossa Studios, shares her business advice for our CEO Secrets series.

Lloyds Bank to close 60 more branches across UK

Unions have criticised the plans to close the Lloyds, Bank of Scotland and Halifax branches.

Goldman Sachs boss David Solomon set to DJ Lollapalooza

Goldman Sachs boss David Solomon will play the four-day music festival in Chicago.

Fuel duty cut by 5p a litre to help motorists

The cut will come into force at 6pm on Wednesday as drivers struggle with record fuel prices.

Nestle pulls KitKat and Nesquik out of Russia

The Swiss food giant drops some popular brands, but will still sell baby food and medical nutrition.

UK growth forecasts slashed due to Ukraine war

Economic forecaster says there is an "unusually high uncertainty" over outlook because of the Ukraine war.

PM: 'It looks like P&O mass sackings broke the law'

Boris Johnson says P&O Ferries could face fines of "millions" after sacking 800 staff suddenly.

Inflation hits new 30-year high ahead of Sunak statement

Inflation hit 6.2% in February, laying bare the challenge the chancellor faces ahead of his Spring Statement.

Tuesday, March 22, 2022

South Korea sued to stop deep-sea gas pipeline

Aboriginal people want to prevent South Korea from funding a gas development in the Timor Sea.

US rolls back Trump-era tariffs on UK steel

The deal follows similar agreements the US has reached with allies including the European Union.

P&O Ferries defends job cuts as some to get £100,000

Ferry operator shares details of redundancy packages which include 40 seafarers getting £100,000 each.

Monday, March 21, 2022

Shell reconsiders its exit from oil field off Shetland

The oil giant is looking again at the Cambo oil field in the Atlantic, as crude prices rise.

Disabled people struggling to pay fuel bills could double

Charities estimate 2.1 million people with disabilities will be in fuel poverty if bills hit £3,000 a year.

South East Asia feels economic pinch of Ukraine war

Businesses hoping to recover from Covid are feeling the effects of Russia's invasion of Ukraine.

Not smart but clever? The return of 'dumbphones'

Why sales of very basic mobile phones, without apps and internet connection, are increasing.

New P&O crew on less than £2 an hour, union claims

The RMT union says Indian seafarers recruited to work in Dover are on rock bottom rates.

UK government mulls move to take over Gazprom unit

The BBC understands that the UK division of Russian gas giant Gazprom could be placed into administration.

Cost of living worries: Unions push further on pay as inflation soars

Any pay increase that still falls short of price rises means a cut for workers, a union boss says.

Spring Statement 2022: What to expect for fuel duty, pensions and benefits

The chancellor faces new challenges in the Ukraine war and the cost of living crisis ahead of the event.

Moscow stock market reopens for some bond trading

Trading in bonds issued by the Russian government has restarted but other business remains suspended.

Free-range eggs no longer available in UK due to bird flu

The amount of time hens have been kept indoors due to bird flu means eggs will now be labelled "barn eggs".

Sunday, March 20, 2022

Cost of living: One in five expect to go into debt this year, survey says

Nearly half of people surveyed expect to use up savings to cover rising living costs, a debt charity finds.

Saudi Aramco ramps up investment to boost production

The state energy firm Saudi Aramco said it would increase investment after profits more than doubled in 2021.

P&O Ferries' sackings were appalling, says Sunak

The government is examining the legality of the ferry firm's actions, the chancellor confirms.

Friday, March 18, 2022

P&O Ferries security thought crew may 'steal duty free’

P&O Ferries crew 'felt intimidated' by security workers and 'were treated like criminals' on the day they lost jobs

P&O: Agency worker describes Cairnryan 'mystery bus tour'

Mark Canet-Baldwin was driven to a P&O dock and says he was kept in the dark about the situation.

Thursday, March 17, 2022

Burger King Russia partner 'refused' to shut shops

Restaurant Brands says it demanded that its local operator close its Russian restaurants.

P&O Ferries backlash grows after firing 800 workers

Staff, MPs and unions express outrage and travellers are told to expect disruption.

Airline giant Delta warns oil increases mean higher ticket prices

The jump in oil prices since Russia invaded Ukraine is set to lead to higher airfares.

Ukraine's restaurants rally to the war effort

From chefs to suppliers, the country's food industry is pulling together to feed the population at war.

Ukraine war: Fraudsters exploit crisis to steal money

Fraudsters are masquerading as victims of the war in Ukraine to trick people into sending money.

Travel firms confident they can bounce back in 2022

Despite the threat of higher airline ticket prices, the industry is still upbeat as bookings are rising.

Interest rates: What are they and why do they matter?

The Bank Rate is one of the main tools used to keep the UK economy growing steadily.

Ocado sales hit as workers return to the office

The online grocer says its sales have fallen in recent months as people revert to pre-pandemic habits.

UK introduces exhaustive Online Safety Bill

Under its rules, social networks could be fined or blocked if they fail to remove harmful content.

Wednesday, March 16, 2022

Universal credit claimants 'overwhelmed' by debt

Many people getting universal credit can't cover the rising cost of living, says charity.

Why your fish and chips may cost a lot more

The conflict in Ukraine is a long way from the UK but it means fish and chip shops are seeing prices soar.

US central bank raises interest rates for first time since 2018

The Federal Reserve raises rates despite Ukraine uncertainty to try to curb soaring inflation.

Cost of living: Consumers urged to take up workplace perks

An estimated 10 million people can access discount schemes at work but may not use them, research suggests.

Tuesday, March 15, 2022

KFC-owner Yum sales plunge as China Covid cases surge

Yum China says sales have fallen by 20% as parts of the country are placed back in lockdown.

Church of England pressures TotalEnergies over Russia business

The church's investment funds want TotalEnergies to leave Russia, like rivals BP and Shell.

Lithuania prepared to stop Russian oil and gas imports

Lithuania’s president says sanctions by the West don’t go far enough and that his country is ready to act.

Heathrow Airport drops Covid face mask rules

The UK's largest airport joins British Airways and Virgin Atlantic in easing mask-wearing rules.

Companies fined for marketing calls targeting elderly

Unwanted calls were made to thousands of older people including some with dementia, a watchdog says.

Afghans turn to cryptocurrencies amid US sanctions

US sanctions, failing banks, and the drying up of foreign aid have left Afghanistan's economy in tatters.

The Western brands unable to leave Russia

As many firms look to withdraw from Russia, some are unable to due to complex deals arranged in the country.

UK gets first new-style pylons in a century

The new style of electricity pylon is designed to reduce the impact on the local environment.

Monday, March 14, 2022

Chip giant Arm set to axe 15% of its staff after deal fails

The UK technology firm could cut hundreds of jobs after its $40bn sale to US chipmaker Nvidia failed.

How barista training opens doors for refugees

Pranav Chopra founded a social enterprise scheme that empowers refugees into work.

Roman Abramovich: New evidence highlights corrupt deals

BBC Panorama uncovers new evidence on the corrupt deals that helped Chelsea's owner make his fortune.

Putin changes law on leased jets to keep them flying

The Russian president signs new law allowing foreign-leased jets to keep flying in Russia.

Inflation: Sports bras in, doughnuts out of cost of living measure

Pet collars and frozen Yorkshire puddings are other goods now used to measure changes in the cost of living.

Cost of living: Food boss says prices could rise by up to 15%

The boss of food firm 2 Sisters warns prices will jump as a result of the war in Ukraine.

Sunday, March 13, 2022

Ukraine crisis: US warns China against helping Russia

US officials say Russia asked China for military support and help in evading sanctions.

'Young people may have 10-plus careers in their lifetime'

A charity competition is encouraging school kids to get entrepreneurial and make their own products.

Delaying National Insurance rise would be 'no problem'

Sir Charlie Bean, who recently left the Office for Budget Responsibility, says the move could be delayed.

Energy boss: US gas exports can 'easily' replace Russian

The CEO of the largest natural gas company in the US says American exports to Europe can 'easily' replace Russian supply

Unions warn of job losses if rail firms close ticket offices

Train operators are talking to unions about how to address job changes in a bid to modernise the railways

Big UK firms in push to give Ukraine refugees jobs

A consortium of businesses is in talks with the government over jobs for Ukraine refugees.

Russia sanctions: How the measures have changed daily life

Prices are rising in Russia and some goods are harder to buy. Here are ways sanctions are affecting daily life.

Saturday, March 12, 2022

Boss accused of defrauding blind workers' pensions

Blind staff at failed 168-year-old business say they are owed pay, redundancy and furlough money.

Friday, March 11, 2022

Fears funeral plan reforms could mean thousands lose money

There is growing concern that tougher regulations for funeral plan providers could hit many customers.

Bitcoin cash machines ordered to shut down in UK

The Financial Conduct Authority warns that all crypto-ATMs in the UK are operating illegally.

Thursday, March 10, 2022

War in Ukraine: Facebook to allow calls for violence against Putin

Meta, the owner of Facebook and Instagram, will "temporarily" make allowances for some violent speech.

'Our collapse would be catastrophic for the war'

Ukraine grain distributor and grower MHP explains the terrifying challenges facing its crucial business.

Ukraine war: Roman Abramovich sanctioned by UK

Chelsea FC owner Roman Abramovich one of seven oligarchs sanctioned by the UK government.

War in Ukraine: How Asian economies are divided over Russia sanctions

Asian nations who joined western-led sanctions make up only 8% of Russia's global trade.

Does your boss really care what you think?

The real reasons companies are making an extra effort to find out if their staff are happy or not.

The risk management experts now in high demand

Covid-19 and now Ukraine have seen firms rush to hire experts in planning for crisis.

Twitter blocks Russian claims on hospital attack

Posts from the Russian embassy in the UK claiming the bombing of a maternity hospital was faked have been taken down.

Wednesday, March 9, 2022

War in Ukraine: IMF approves $1.4bn emergency funding

The country is expected to see a deep recession this year due to the impact of the Russian invasion.

Distributors warn fuel price spike will hit food bills

Shops and food distributors say soaring fuel prices will push up food bills.

Chancellor faces tough calls over households' income hit, says IFS

The chancellor must decide whether to borrow more or allow household budgets to be squeezed further, the IFS says.

Use Russian money to rebuild Ukraine, says bank chief

In BBC interview Ukraine central bank boss proposes long list of extra financial sanctions on Russia

Huawei board members resign over silence on Ukraine

The two directors are unhappy about the the company's failure to quickly condemn Russia's invasion.

Oil prices plunge as UAE supports supply boost

The move could ease a supply crunch as the West and allies shun Russian oil.

Will the US crack down on cryptocurrency?

The US is eyeing new rules for cryptocurrencies as concerns rise about the fast-growing industry.

Jack Monroe says families need urgent help with rising bills

Price rises due to the Ukraine war will hit low income families hardest, Jack Monroe tells MPs.

Tuesday, March 8, 2022

War in Ukraine: Fitch Ratings warns Russian bond default 'imminent'

This week Moscow said that its sovereign bond payments may be affected by international sanctions.

War in Ukraine: Warning oil sanctions will further hit UK living costs

Plans to ban or curb Russian oil and gas imports will further hit UK living standards, analysts say.

MPs urge inquiry into bankers jailed for ‘rigging’ rates

MPs are concerned that the wrong people may have been prosecuted after the BBC uncovers new audio tapes.

Can tech help revive India's 'crumbling' health system?

Indian doctors hope big investment and smart tech will improve a fragmented healthcare sector.

McDonald's to temporarily close its 850 stores in Russia

The fast food chain said it was responding to the "needless human suffering unfolding in Ukraine".

Monday, March 7, 2022

War in Ukraine: Crisis is unleashing 'hell on earth' for food prices

The Ukraine war could push millions closer to starvation, the boss of the World Food Programme says.

Cost of living: Warning UK faces biggest income squeeze in nearly 50 years

The war in Ukraine will lead to an even tighter squeeze on living standards this spring, a think tank says.

War in Ukraine: World Bank approves $723m financial package

The package of financial support for Ukraine includes a $100m pledge from the UK.

Government rescue of Bulb Energy set to cost taxpayers billions more

A buyer hasn't been found for the ailing supplier, so the the taxpayer will have to keep funding it.

The sophisticated tech predicting if an advert will work

Ad-testing firms are using real-time software, webcams to find out if ads resonate with customers.

McDonald's and Coca-Cola boycott calls grow over Russia

Food and drink giants have been criticised on social media for failing to speak out on Ukraine's invasion.

Lord Barker resigns from Russian oligarch-linked firm EN+

The Conservative peer steps down from EN+, which is majority-owned by Oleg Deripaska.

Sunday, March 6, 2022

Ukraine conflict: Oil price soars to highest level since 2008

Consumers are feeling the impact of higher energy costs as fuel prices and household bills jump.

Ukraine war 'catastrophic for global food'

One of the world's biggest fertiliser firms says the conflict could deliver a shock to food supplies.

Ukraine parts shortage hits Oxford Mini production

Production at Plant Oxford is stopping until 18 March due a shortage of parts from Ukraine.

TikTok stops new content being uploaded in Russia

The video streaming platform says it is protecting users while it assesses Russia's new "fake news" laws.

Shell defends 'difficult' decision to buy Russian crude oil

The oil giant confirmed it made a purchase of Russian crude oil on Friday but said it had "no alternative".

Visa and Mastercard suspend Russian operations

The payments giants are pulling out of the Russian market in protest at its invasion of Ukraine.

Saturday, March 5, 2022

Zara, Paypal and Samsung suspend business in Russia over Ukraine invasion

Inditex, which owns Zara and several other major brands, will close all of its 502 stores in Russia.

Friday, March 4, 2022

French designer giants suspend sales in Russia

Chanel, LVMH and Hermes announced on Friday they would temporarily suspend sales in the country.

Charities warn fuel poverty could double in a year

A third of UK households could be fuel poor from October if bills rise to £3,000 a year, as feared.

Facebook hits out at Russia blocking its platforms

The Russian communications regulator said on Friday that Facebook has been blocked in the country.

Microsoft stops selling products in Russia

The tech giant will no longer sell products and services there following the invasion of Ukraine.

Thursday, March 3, 2022

Ukraine conflict: Government to sell NFTs to fund war against Russia

The announcement comes just days after Ukraine raised more than £200m in a sale of war bonds.

Ukraine conflict: Asia stocks drop after nuclear plant attack

Russia's invasion of Ukraine has sent shockwaves through the global financial and energy markets.

Ukraine crisis: How much trade does Russia do with China?

The two countries have a growing economic partnership, but sanctions on Russia could complicate it.

The bosses helping staff pay their soaring energy bills

With the cost of electricity and gas set to rise further, some firms are giving workers a pay rise.

World Bank warns Ukraine war will cut global growth

The president of the World Bank tells the BBC the war in Ukraine is a catastrophe

Biden targets Russian elite with new sanctions

President Putin's spokesman is one of the latest Russians targeted in the new round of sanctions.

Ukraine: UK sanctions oligarchs Alisher Usmanov and Igor Shuvalov

Billionaire Alisher Usmanov and Russian ex-Deputy Prime Minister Igor Shuvalov face UK sanctions.

Bet365 boss Denise Coates gets £300m pay package - a £170m cut

Billionaire Denise Coates, founder of gambling firm Bet365, takes a £170m cut in pay and dividends.

Wednesday, March 2, 2022

Ukraine conflict: Growing numbers of firms pull back from Russia

Reputational risk and practical difficulties are making it harder to do business in the country.

Ukraine crisis: What sanctions could West still impose on Russia?

The measures are tougher than anything Vladimir Putin has faced. But more could be coming.

Chelsea: Roman Abramovich says he plans to sell club

Chelsea owner Roman Abramovich says he plans to sell the Premier League club.

CEO Secrets: Mikaela Jade of Indigital shares her advice

Mikaela Jade, founder and CEO of Indigital, Australian's first Indigenous Ed-tech company, shares her advice.

Oil-producing nations stick to their plan despite Ukraine

Countries that export oil plan to pump more crude in to the market but not much.

Netflix pauses future projects in Russia

US technology giants Netflix and Oracle are the latest to move to distance themselves from Russia

H&M temporarily suspends all sales in Russia

One of the world's biggest fashion retailers said it was deeply concerned about conflict in Ukraine.

House prices see record cash rise, says Nationwide

The building society says the cost of a typical UK home rose by a record £29,162 in the last year.

UK ports 'working at pace' to block Russian ships

Russian ships are diverting, are at anchor, or are being packed up after UK bans them from docking.

Tuesday, March 1, 2022

Ukraine conflict: ExxonMobil and Boeing take action over Russia ties

The companies join the growing list of global corporations to cut business links with Russia.

Shop prices rise at fastest rate in over ten years, says BRC

In February, shop prices rose at their fastest rate in over a decade according to one industry group.