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.