Tuesday, May 31, 2022
Sri Lanka urges farmers to plant more rice amid crisis
Inflation, the rate at which prices rise, has reached a new record high of 39.1% in the country.
China commercial hub Shanghai eases lockdown
China's biggest city, a vital global trade hub, begins to relax crippling Covid restrictions.
Sector must improve lorry driver conditions or face tax, MPs say
The haulage industry should be given two years to make changes or face a new tax, a report says.
Cost of living: Lessons from history about how we spend
What can a treasure trove in Leeds tell us about why we hoard our money?
Oil price rises as EU cuts Russian imports
New sanctions to block Russian oil shipped to the EU have pushed oil prices higher.
Monday, May 30, 2022
Crown Resorts: Casino firm fined over illegal China dealings
Australia's Crown Resorts acknowledged its "historic failings" and promised to work on reforms.
P&O: Government scraps contract over mass sackings
The Home Office said that the P&O agreement with UK Border Force would end "with immediate effect".
Primark 'regrets' raising prices as it battles with rising costs
The finance director for parent company ABF blames rising costs for its decision to hike some prices.
Shanghai lockdown: China's financial hub set to lift Covid curbs
Authorities in the commercial hub have also announced new economic support measures for businesses.
Audit reforms aim to prevent accounting scandals
A new watchdog will prevent sudden large-scale collapses like Carillion and BHS, the government says.
EU clinches compromise deal on banning Russian oil
Latest sanctions block more than two-thirds of Russian oil imports after Hungary opposed a total ban.
Half-term holiday plans in shreds as flights cancelled
Passengers are reporting being told at the flight gate that their trip has been cancelled.
Budget pasta prices jump 50% as food staples rise
Data reveals prices of some everyday items rose by 15% but the average increase is below inflation.
Sunday, May 29, 2022
Cost of living crisis: Relying on food handouts and moving country
People from Italy, Brazil, Ghana, Thailand and New Zealand discuss the impact of the cost of living crisis.
Shanghai lockdown: Chinese financial hub set to lift curbs on firms
Authorities in the commercial hub have also announced new economic support measures for businesses.
Drivers warned of Platinum Jubilee traffic delays
The RAC estimates 19.5 million road trips over the break with traffic likely to be worst on Friday.
The top spies fighting terrorism three days a week
If job-sharing mums can lead GCHQ why isn't this way of working more common?
Half-term travel: Dover passengers 'stuck for hours' at border control
P&O Ferries say delays are "out of their control" as borders are operated by French authorities.
Saturday, May 28, 2022
Why can't the US stop soaring oil and gas prices?
As prices rise, oil and gas firms in the US want to capitalise - but the industry has changed.
Norwich City 'in talks' with Millwaukee Brewers' owner
It is understood the owner of Millwaukee Brewers met officials at the club's home ground.
Chelsea sale: Todd Boehly consortium set to complete deal on Monday
Chelsea say a "final and definitive agreement" was entered into on Friday night to sell the club to the consortium led by LA Dodgers co-owner Todd Boehly.
Twitter fined $150m in US for selling users' data
Federal investigators say the social media company broke rules on giving personal data to advertisers.
Japan opens up to foreign tourists after two years
Visitors from 98 countries will be allowed to enter, but some restrictions still remain.
Friday, May 27, 2022
EasyJet to cancel more than 200 half-term flights from Gatwick
The airline says cancellations are required to provide reliable services in the busy holiday period.
Cost of living crisis: Sheerness cafe owner sleeps on shop floor to save money
Steve Jackson skips meals to help pay the rent on his vintage tea shop in Sheerness High Street.
Rishi Sunak hints at more help with rising cost of living
The chancellor promises to "respond to the situation on the ground" as households face soaring bills.
The sci-fi technology tackling malarial mosquitos
Gene drive development makes a genetically modified gene that spreads widely within populations.
Thursday, May 26, 2022
Twitter investors sue Elon Musk and platform over takeover bid
The lawsuit alleges the multi-billionaire's "wrongful conduct" has caused Twitter shares to plunge.
Energy bills: Government likely to face pressure to continue support, IFS says
The government will face pressure to give more support if oil and gas prices do not fall, the think tank says.
Brits set to spend millions on Platinum Jubilee merchandise
As the Queen's Platinum Jubilee approaches, memorabilia and flags are flying off the shelves.
Electric car rapid charging costs soar, says RAC
Energy prices are soaring, but electric car charging is still much cheaper than petrol, says RAC.
Business confidence is falling, says Natwest boss
Firms face problems with supply chains, energy bills and skill shortages, says Alison Rose.
McDonald's defeats Carl Icahn in vote over pigs
McDonald's shareholders rejected proposals from Carl Icahn who voiced concerns over the treatment of pigs.
Newport plant critical to easing microchip shortage, says boss
IQE is in talks with the Welsh and UK governments over expanding its Newport factory.
Wednesday, May 25, 2022
Ukraine war: World Bank boss warns over global recession
David Malpass also said coronavirus lockdowns in China are contributing to a global slowdown.
Cost of living: 'My daughter won't ask me for money for sanitary products'
A mother explains how she can't make ends meet as data suggests more people are struggling.
Newport Wafer Fab: Chinese buyout of UK's biggest chip plant to be reviewed
The UK government says it will make a national security assessment of the sale of Newport Wafer Fab.
Dyson moves beyond vacuum cleaners to home robots
The company is setting up a major robotics research centre in the UK.
'We don't want UK-EU trade war' - Irish PM
Micheál Martin says he is hopeful he will not have to contemplate tariffs against UK exports.
Tuesday, May 24, 2022
'I change how I look and talk to fit in at work'
Two thirds of women of colour in UK workplaces say they change themselves to fit in, a report says.
Klitschko brothers urge Europe to stay strong for Ukraine
The champion boxer brothers visit World Economic Forum in Davos to urge support for Ukraine.
US closes loophole for Russian debt payments
The move by the US Treasury Department could push Russia closer to default.
Rail strike: RMT union votes for national action
RMT members vote in favour of strike action across Network Rail and 13 train operating companies.
Mining giant pleads guilty to UK bribery charges
Glencore's UK subsidiary pleads guilty to bribery in London, while the firm resolves similar US claims for $1bn.
Cost of living: Government plan to help households could come in days
The BBC understands an announcement could be made as soon as Thursday after growing pressure on Downing Street.
Monday, May 23, 2022
Airbnb to quit China as lockdowns restrict tourism
Stays in China made up only 1% of Airbnb's revenue for the last few years, a source said.
Fraud victims face call waiting lottery from banks
Average waiting times can range from 16 seconds to over 30 minutes - depending on the bank, says Which?.
Cryptocrash: ‘I was arrested for knocking on Luna boss's door'
A man says he lost millions, and then was arrested for trying to talk to crypto boss Do Kwon.
What Didi's US exit tells us about China and Wall Street
The Chinese ride-hailing giant will quit Wall Street less than twelve months after its US market debut.
Starbucks withdraws name from Russia after 15 years
The coffee giant makes the decision to exit after suspending operations there in March.
Ukraine calls for safe passage for grain exports
The country's inability to export its grain has led to food prices rising around the world.
Millionaires at Davos say 'tax us more'
At the annual meeting of the business and political elites, wealthy attendees call for fairer tax.
Cost of living: We cannot rule out a windfall tax, says minister
Simon Clarke will not confirm a levy on energy firms to tackle rising costs, but promises pragmatism.
Sunday, May 22, 2022
HSBC suspends banker over 'nut job' climate comments, say reports
The banking giant has reportedly suspended its responsible investing leader Stuart Kirk.
Palm oil firms depriving tribes of millions of dollars
Companies supplying major manufacturers fail to meet promises to share land, joint BBC investigation finds.
Cost of living: Two-child families paying £400 a month more
The rising cost of energy, transport and childcare is forcing families to make tough choices.
Pay gap from bosses to staff to widen - think tank
The High Pay Centre says pay gaps were the greatest in the retail sector in the early months of 2022.
Rail unions vow to fight government strike threat
Transport Secretary Grant Shapps claims a new law would protect shipments from disruption.
E.On UK boss warns 40% of customers face fuel poverty
Chief executive Michael Lewis has called for government intervention to help struggling households.
Saturday, May 21, 2022
Governments should subsidise food and energy - IMF boss
Kristalina Georgieva says government subsidies can help with the cost of living crisis.
Friday, May 20, 2022
Self-scan supermarket tills and the rows over their use
Do you relish scanning your own groceries or are you missing the human cashiers?
Cost of living: What are Rishi Sunak's options to ease the burden on households?
There are ways the chancellor could tackle the strain on people's pockets - but what do they cost?
Sunday Times Rich List: Rishi Sunak and Akshata Murty among UK's wealthiest
The chancellor and his wife Akshata Murty make the Sunday Times Rich List with their £730m fortune.
Retail sales jump in April driven by food stores
Alcohol and tobacco drive a surprise rise in sales, though the longer term trend is still down.
Thursday, May 19, 2022
Canada to ban China's Huawei and ZTE from its 5G networks
The UK, US, Australia and New Zealand have also barred the Chinese telecoms equipment makers.
Cyber security: Global food supply chain at risk from malicious hackers
The growth of "smart" farm machinery is increasing the risk of hacking of food and farming systems.
Australia election 2022: Cost of living worries voters
If interest rates keep rising 300,000 Australians may default on mortgage repayments.
Twitter steps up Ukraine misinformation fight
The social media platform says it will put false claims from official accounts behind warning notices.
Wednesday, May 18, 2022
M&S warns online sales tax will damage High Street
Marks & Spencer says extra tax for online shops will mean lower investment in High Street stores.
Why your haircut is getting more expensive
Chain Trevor Sorbie says they are now spending thousands more each month.
Oil and gas industry pushes back over windfall tax
Oil and gas producers say they are already paying more tax and an extra levy would damage confidence.
Markets fall as retailers ring alarm over US economy
The S&P 500 dropped 4%, while the Dow fell 3.5%.
Martin Shkreli 'Pharma bro' released early from prison
Mr Shkreli was convicted in 2017 of defrauding investors.
Tuesday, May 17, 2022
UK inflation hits highest for 40 years as energy bills soar
UK inflation, the rate at which prices rise, jumped to 9% in the year to April, up from 7% in March.
China Eastern plane crash likely intentional, US reports say
Flight data reportedly indicates someone in the cockpit made the China Eastern Airlines jet crash.
Netflix cuts 150 US-based jobs after losing subscribers
The US streaming giant is forced to lay off staff to minimise cost of viewers quitting the service.
Californian court declares law requiring women on boards unconstitutional
The court said the law, which forced boards to have up to three women directors, was discriminatory.
Tesco shopper's plea to bring back till staff
Pat McCarthy says there are not enough staffed tills for those who struggle with self-service machines.
How Gen Z is hooked on cryptocurrency and NFTs
A growing number of young people are getting into crypto trading - despite the risks.
Petrol retailers told to pass on fuel duty cut
The government wants to ensure companies pass on tax cuts to motorists as diesel prices hit new highs.
Global firms are boosting baby formula supplies in the US
Nestle is flying in additional shipments from Europe as the US faces a shortage.
Wages fall sharply but unemployment rate drops
Pay fell by 1.2% between January and March but the jobs market remained buoyant.
Monday, May 16, 2022
Tesco gives £6.6m to pig producers following plea
The move follows a public letter to the supermarket giant claiming farmers would go out of business.
US warns over risk of hiring North Korea IT workers
The remote workers allegedly aim to help fund Pyongyang's advanced weapons programmes.
Sri Lanka down to last day of petrol, new prime minister says
Ranil Wickremesinghe also said the country's central bank will print money to pay government wages.
Warning poorest households are struggling to get £150 energy rebate
Fuel poverty charity warns that low income households will wait longest for £150 council tax rebate.
Northern Ireland: Could the EU and UK face a trade war?
As tensions build over Northern Ireland, concerns of a trade war between the EU and UK have surfaced.
ScotRail plans to cut third of services, says RMT union
The RMT union said the timetable plans could cause "industrial carnage" amid an ongoing pay dispute.
McDonald's to leave Russia for good after 30 years
The chain opened in Moscow in 1990 as the Soviet Union was opening its economy to Western brands.
Ukraine war: Russia nationalises Renault's Moscow plant
It is the first Russian nationalisation of a major foreign business since the invasion of Ukraine.
Diesel prices reach record of over £1.80 a litre
The RAC says prices rose to just over £1.80 a litre after the previous record was set in March.
Ryanair warns prices to rise for European summer trips
Michael O'Leary warns high demand for European beach holidays will mean price rises.
Energy bills could rise and fall faster under new plans
Ofgem says a review every three months would allow households to benefit sooner from falling prices.
Sunday, May 15, 2022
Shanghai lockdown: China unemployment rate near pandemic peak
Evidence of China's economic slowdown came as authorities unveiled plans to lift Shanghai's lockdown.
Ukraine war: Global wheat prices jump after India export ban
World wheat prices have soared this year, pushing up the cost of everything from bread to noodles.
'I was jumping through hoops to get a loan'
One firm tells of its struggles as a survey suggests lending to small businesses has hit an all-time low.
EasyJet offers £1,000 bonus as airlines battle to recruit staff
The airline will offer new and existing cabin crew the bonus, as carriers seek to retain and recruit workers.
Cost of living: Labour to call vote on windfall tax for oil and gas companies
It is shameful not to raise extra money from oil and gas firms amid the rising cost of living, Ed Miliband says.
NHS prescription charges in England to be frozen
Not raising the fees for the first time in 12 years puts money back in people's pockets, ministers say.
Saudi Aramco: Oil giant sees profits jump as prices surge
The state-owned Saudi Aramco is currently the world's most valuable company due to soaring oil prices.
Saturday, May 14, 2022
Covid: Have the lockdown success stories lost their shine?
Some businesses which boomed during the Covid pandemic are seeing their popularity fade.
Friday, May 13, 2022
'I pawned my laptop to pay for food and petrol'
People on low incomes are pawning their possessions to pay for essentials, a report suggests.
Ethnic pay gap: MPs criticise government's 'lack of care'
A government decision not to extend pay gap reporting to racial disparities has been criticised by MPs.
Why the volatile price of aluminium matters
From door frames to aircraft and food packaging - how soaring prices will impact the world economy.
Russian operator to suspend electricity supply to Finland
Russian operator RAO Nordic says it will cease deliveries from Saturday, citing payment problems.
Thursday, May 12, 2022
Zara starts charging shoppers for online returns
But customers can still return clothes purchased online from the fashion giant for free in stores.
Crypto crash: Stablecoin collapse sends tokens tumbling
The sudden demise of TerraUSD sends other crypto-coins into a downward spiral.
Tesco trials renting out office space to workers
The move by the retail giant highlights the shift away from traditional office set-ups since the pandemic.
Shell agrees to sell Russian retail business to Lukoil
The energy giant will sell its retail business in Russia to the country’s second-largest oil producer, Lukoil.
Rishi Sunak threatens energy firms with windfall tax
The chancellor says he rules nothing out if they don't increase investment in energy projects soon.
Apple iPod creator warns the metaverse will encourage trolls
Tony Fadell says the virtual reality world risks damaging human interaction and creating toxicity.
Wednesday, May 11, 2022
UK economy shrinks in March amid rising prices
The economy contracted by 0.1% in March after no growth in February, official figures show.
Apple loses position as most valuable firm amid tech sell-off
Saudi Arabian energy giant Aramco has taken the top spot amid a broad sell-off of technology stocks.
'Critical mass' of polluters setting carbon targets
The number of big firms setting climate targets reaches a 'critical mass' say UN-backed researchers.
Disney sees better than expected streaming growth
The media giant appeared to have escaped the slowdown that hit arch-rival Netflix.
Aviva chief responds to 'sexist' shareholder jibes
Amanda Blanc says unacceptable behaviour towards her has become more overt in her career.
Google unveils new Pixel Watch
The firm's first own-brand watch combines Google's operating system and Fitbit health tracking tech.
Tuesday, May 10, 2022
Toyota cuts production due to Covid lockdown in Shanghai
Tesla has reportedly also halted most production at its Shanghai plant due to problems sourcing parts.
Tesco Mobile advertising campaign offensive, watchdog rules
The Advertising Standards Authority banned the campaign which used swear word substitutes like "shiitake".
Fifa: EA Sports to break away from football body
Electronic Arts will instead produce new football games under the banner EA Sports FC.
James Cromwell glues hand to Starbucks counter in protest
The actor glued his hand to a Manhattan Starbucks counter over a surcharge on vegan milk.
Cost of living: 1.5m UK households will struggle to pay bills - report
Rising prices and higher taxes are squeezing Britons' budgets, according to researchers.
Ukraine sanctions: What pain lies ahead for Russia's economy?
Russia has been hammered by sanctions introduced by Western countries since its invasion of Ukraine.
UK government to bring in e-scooter law
It says it plans to legislate to make private e-scooters 'safer' as part of a new transport law.
Monday, May 9, 2022
Electric models drive second-hand car sales higher
Sales of used cars have risen, with greener electric and hybrid vehicles climbing fastest.
Twitter: X marks the spot for Elon Musk's growth plans
A document shown to prospective investors may shed light on the Tesla boss plans for Twitter.
Is it fair for fantasy football managers to rely on AI?
Some managers think artificial intelligence helps remove their bias but others think it's cheating.
US faces baby formula 'crisis' as shortage worsens
Pressure is building on the White House to address the worsening shortage of formula milk.
P&O: Second Channel ferry cleared to resume sailing by safety inspectors
The Pride of Kent can now sail between Dover and Calais, the Maritime and Coastguard Agency says.
Morrisons rescues McColl's taking on all 16,000 staff
The supermarket chain beats a rival offer from EG Group which is owned by billionaire Issa brothers.
Birmingham Airport: 'Chaos' as travellers face long queues
Passengers report having to wait two hours to get through checks at Birmingham Airport
IndiGo: Anger after India airline removes disabled teenager
IndiGo allegedly refused to let the teenager board its flight, saying he was a "risk to passengers".
Sunday, May 8, 2022
Bitcoin value drops by 50% since November peak
The slide in the value of cryptocurrencies comes as stock markets around the world have also fallen.
Universal credit switchover is a bad move, say charities
A forced move to universal credit, which begins on Monday, raises fears for vulnerable claimants.
New UK sanctions for Russia and Belarus
The penalties will target £1.7bn of trade to further weaken Vladimir Putin's Ukraine invasion.
Cost of living: More Britons say they skip meals or go hungry
The number of those struggling to buy food rises by 57% in three months, according to a survey.
Firm set to buy McColl's urged to take on staff pensions
The billionaire Issa brothers are set to take over the troubled chain on Monday but may not take on pension liabilities.
EasyJet to take out seats so it can fly with fewer crew
The airline plans to remove a row of seats so that it can fly with fewer cabin crew on board.
Saturday, May 7, 2022
Ukraine war: Russian energy embargo needed now, says finance minister
An EU ban on oil and gas from Russia would limit its ability to fight in Ukraine, Sergeii Marchenko says.
Mine e-waste, not the Earth, say scientists
Scientists call for electronic waste to be mined for precious metals as supplies of new materials become ‘unsustainable’.
Shop owners to be forced to rent out empty premises, government says
Ministers call boarded-up premises a "blight" and say councils need stronger powers over landlords.
Friday, May 6, 2022
Chelsea agree sale terms with LA Dodgers' Todd Boehly
The new owners will pay £4.25bn for the football club, including £2.5bn to be given to charity.
Families face debt squeeze as prices keep rising
Cost of living pressures mean a likely resurgence in people struggling to repay existing debt, a charity warns.
Job creation remains strong in US economy
Employers added 428,000 jobs last month, while the jobless rate held steady at 3.6%.
Facebook's Australia news ban overblocked on purpose, whistleblowers claim
A whistleblower group says Facebook deliberately overblocked a news ban affecting vital services.
Morrisons makes last minute bid to save McColl's
The deal would aim to save as many of the 16,000 convenience store jobs at risk as possible.
House prices hit new record but growth set to slow
Prices rose by 1.1% in April but rising interest rates and inflation will dampen the market.
Thursday, May 5, 2022
Gucci stores to accept cryptocurrencies in US
Gucci joins a growing number of major companies that have started to accept digital currencies.
Cocaine found in coffee sent to Nespresso plant
Swiss police seized 500kg of the drug after workers found white powder in a shipment of coffee beans.
UK government sets out plans to rein in Big Tech
A regulator will have powers to fine firms such as Google and Meta if they fail to follow new rules.
US markets see worst losses since 2020 after rate rise
The Dow falls by more than 3% as investors worry about how rising prices will hit growth.
Wednesday, May 4, 2022
Uber loses $5.9bn as Asia investment values fall
The firm said almost all of that loss was a due to falls in the value of investments in other companies.
Michael Murray: New Sports Direct boss says High Street isn't dead
Michael Murray says high streets will be "different" ahead of a new look Sports Direct store opening.
Bill Gates on Elon Musk feud and Jeffrey Epstein meetings
The Microsoft tycoon talks to the BBC about divorce, conspiracy theories and Elon Musk.
China lockdown: What do zero-Covid policies mean for UK prices?
Lockdowns in some of China's major manufacturing areas are disrupting exports of goods to other countries.
Dubai a haven for wealthy Russians fleeing sanctions
Property purchases by Russians in Dubai surged by 67% in the first quarter of 2022, a report says.
Klarna to report customer debts to credit agencies
The buy-now-pay-later firm will start to report the use of its products to credit reference agencies.
Oil prices have soared. Why won't Opec bring them down?
Oil prices are at an eight-year high, so why won't oil exporting countries bring them down?
Tuesday, May 3, 2022
LIC IPO: Insurance giant opens India's largest share sale
Nearly as old as the country, LIC is an insurance behemoth that has played a historic role in India.
Musk says Twitter may see 'slight cost' for businesses and governments
The multi-billionaire Tesla boss also said the platform "will always be free for casual users".
'How a near-death experience inspired my business'
Dhruvin Patel talks about becoming an entrepreneur after surviving a terrifying accident.
The perfect storm increasing the cost of a crucial metal
Nickel is essential for batteries and stainless steel but suppliers are struggling to meet demand.
Brewdog boss James Watt plans to give staff 20% of his stake
James Watt owns a quarter of the fast-growing Aberdeenshire-based beer maker.
BP profits soar amid calls for a windfall tax
The energy giant said underlying income hit $6.2bn due to 'exceptional oil and gas trading'.
Australia raises rates for first time in 11 years
It puts extra strain on Australians - and Prime Minister Scott Morrison - ahead of a looming election.
Monday, May 2, 2022
Trader made error in 'flash crash', Citigroup says
The benchmark Stockholm OMX 30 share index fell by 8% at one point on Monday morning.
Post office: Workers at 114 branches strike over pay
The Crown Post Offices will close for 24 hours as staff walk out in a dispute over pay.
Amazon will pay US staff travel expenses for abortions and other treatments
The firm will reimburse travel costs for various treatments in the US, including abortion.
EU divided over how to step away from Russian energy
EU energy ministers met to discuss a possible ban on Russian oil, but members remain split.
Law firm says staff can work from home - for 20% less pay
Staff can choose to work remotely, but will have their pay cut, says city law firm Stephenson Harwood.
Sunday, May 1, 2022
Shanghai lockdown: The hard life of a homeless deliveryman
Many riders face a lack of shelter and safety while delivering supplies in a locked down city.
Netflix cancels Meghan Markle animated series 'Pearl'
The announcement comes as the streaming giant makes cost cuts after subscriber numbers fell.
Qantas promises direct flights from Sydney to London and New York
Australia's carrier says its new fleet will be capable of direct flights to any city in the world.
Free-range eggs return as hens are allowed back outside
People can once again buy free-range eggs after measures to control a bird flu outbreak were relaxed.
Eid celebrations squeezed by cost of living crisis
Some Muslim families celebrating the end of Ramadan are feeling the pinch of rising prices.
Unravelling Australia's complex jobs puzzle
An uneven recovery from the pandemic leaves graduates struggling to get on the career ladder.
Asda chairman Stuart Rose: Food prices will keep rising
Stuart Rose says that consumers "will suffer" from continuing cost of living price hikes.
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