Tuesday, January 31, 2023
Tech layoffs: PayPal cuts 2,000 jobs as global economy weakens
The online payments platform is the latest technology firm to cut costs as the global economy weakens.
Caffeine levels in High Street coffee varies hugely, testing found
One espresso contained six times the caffeine found in one from another chain, research shows.
The trucks ditching diesel and drivers
From addressing the climate emergency to the shortage of HGV drivers, is this the future?
Shoppers turn to own-label lines to save money
Sales of value lines have grown 47% in the last year as food prices soar, research suggests.
Monday, January 30, 2023
Tech War: Biden moves to halt US exports to Huawei, reports say
Washington has been tightening its rules on exports of US technology to China for several years.
UK economy only G7 nation to shrink in 2023 - IMF
The IMF says the UK economy is forecast to shrink by 0.6% this year.
Green projects are boosting UK growth - CBI report
Projects aimed at lowering carbon emissions are boosting growth in poorer parts of the country.
The new tech offering relief from the misery of period pain
Two start-up firms are making wearable technology that targets menstrual discomfort.
What impact has Brexit had on the UK economy?
It is three years since the UK left the EU and time to start looking at the evidence.
Cost of living: One in five eating food beyond use-by date
A similar number have eaten smaller portions owing to rising prices, with more struggling to stay warm.
JD Sports says 10 million customers hit by cyber attack.
The sportswear chain says stored data relating to its customers might be at risk following the attack.
Childcare costs soar as providers feel the pinch
Prices increased across Britain over the last year due to funding pressures, a survey suggests.
Man takes parcel to US to beat Royal Mail ban
Businesses express frustration at Royal Mail's ban on sending parcels abroad after a cyber-attack.
Sunday, January 29, 2023
Mining giant 'sorry' over lost radioactive capsule in Australia
Rio Tinto says the object went missing while it was being transported 1,400km in Western Australia.
Adani Group says Hindenburg fraud claim 'calculated attack on India'
Last week the Indian firm owned by Asia's richest man had more than $50bn wiped off its market value.
Over-50s at work: 'You feel your usefulness has passed'
New research suggests applicants are right when they say employers are less open to hiring older workers.
Ryanair and EasyJet ready to snap up Flybe staff
Airlines are inviting employees of the collapsed airline to fill vacancies for cabin crew and other roles.
Saturday, January 28, 2023
'Elon Musk has made me embarrassed to drive my Tesla now'
Elon Musk was once hailed as the secret to Tesla's success. Now he's one of its problems.
Flybe administration: Scramble to change plans after airline ceases trading
The airline said it was ceasing trading and cancelling all flights, which affects 75,000 passengers.
Friday, January 27, 2023
Flybe: Regional carrier ceases trading and cancels all flights
The airline said in a statement that it had ceased trading and that all flights had been cancelled.
Plans for more banking hubs as branches close
In total, 38 of these shared branches have been announced so far, but only four have opened.
Job risk as Shell considers quitting energy market
The Coventry-based firm said tough market conditions had forced a review of the business.
Warning to 100 funeral directors over price lists
Businesses could be named and shamed for flouting rules but critics say the those rules need strengthening.
LVMH: Luxury giant's sales soar despite China losses
LVMH - owner of brands including Moët and Louis Vuitton - saw strong sales despite losses in China.
Thursday, January 26, 2023
HS2 may not run through to central London - report
The government says it is committed to delivering the rail line to Manchester amid rising costs.
Warning over risky electric blankets sold online
The consumer rights group Which? found products being sold online that could cause electric shocks.
Hunt to set out plan for growth as criticism mounts
It will be scrutinised by businesses who claim the government has no long-term plan for the economy.
Turning problem sea algae into a replacement for plastic
Seaweed and microalgae is increasingly being turned into useful products.
Fears shoppers misled over green goods sparks investigation
The competition watchdog is concerned shoppers are paying a "premium" for goods claiming to be green.
Royal Mail says strikes have cost it £200m
The owner of the mail delivery service reveals the cost of the ongoing dispute over pay and conditions.
Wednesday, January 25, 2023
Tesla posts record profit despite price cuts
Elon Musk's electric car company is facing questions as the economy weakens and borrowing costs rise.
Premium Bond prize rate set to hit highest for 14 years
The boost from next month comes as analysts warn the peak in savings rates may be approaching.
Celebrities call on UK banks to stop financing fossil fuels
Stephen Fry and Emma Thompson back campaign to stop banks financing new oil, gas and coal projects.
Microsoft Outlook and Teams down for tens of thousands around world
Data from outage tracking website Downdetector showed more than 5,000 reports in the UK alone.
Tuesday, January 24, 2023
Rupert Murdoch ditches plan to merge Fox and News Corp
The media tycoon has withdrawn his proposal, saying it is "not optimal" for shareholders at this time.
NI Protocol: M&S warns against separate labelling for NI goods
The UK and EU both previously suggested it could help reduce checks related to the NI Protocol.
Microsoft sees slowest sales growth in six years
The update follows the firm's move to eliminate about 10,000 jobs.
US accuses Google of 'driving out' ad rivals
A federal lawsuit alleges the tech giant's anti-competitive actions mean more websites need paywalls.
Online car retailer Cazoo consults with staff over site closures
Hundreds of jobs are at risk at online car retailer Cazoo, including 300 in Lincolnshire.
Ticketmaster blames cyber attack for disrupting Taylor Swift tour sale
The company says it faced an "unprecedented" software attack when the star's Eras tour went on sale.
Primark among Christmas retail winners as it reports bumper sales
The fashion chain sold more items and for higher prices despite cost-of-living pressures.
Energy bill help pushes UK borrowing to new record
Government borrowing hit the highest level for a December since records began in 1993.
Monday, January 23, 2023
M&Ms replacing spokescandies with comedian Maya Rudolph
The company said it has put a 'pause' on the mascots after a rebrand "broke the internet".
Microsoft extends AI partnership with ChatGPT and Dall-E maker OpenAI
It announces a "multi-year, multibillion dollar investment" with OpenAI to accelerate breakthroughs.
Cold snap triggers freezing weather payment
Some people on benefits will receive £25 within the next two weeks after temperatures drop.
Spotify cuts jobs in latest tech-sector cull
The music-streaming company says it is shedding 6% of its workforce.
Food suppliers hit back at Tesco chair in price hike row
Industry body the Food & Drink Federation said supermarkets are already 'very tough' on suppliers.
Fullers blames rail strikes for pub profit warning
The pubs and hotels operator says industrial action has wiped £4m off its full-year sales.
Sunday, January 22, 2023
Government to offer £600m for green steel switch
The UK's two biggest steelmakers are expected to get support to move away from old-fashioned coal.
Technology can help the NHS, says AstraZeneca boss
AstraZeneca's Leif Johansson says AI and screening could prevent costly treatment in hospitals.
National Grid puts coal plants on standby to supply electricity
National Grid ESO orders coal-fire units to begin warming up as the UK's cold snap continues.
Strikes Update: How Monday 23 January’s walkouts will affect you
What you need to know about the ambulance workers' strike, by the BBC's Zoe Conway.
Energy Price Cap: Labour calls for three month extension
Extending the £2,500 energy price cap until July can be funded by a tougher windfall tax, Labour says.
Firms may be hiking prices beyond inflation - Tesco boss
Food suppliers may be using inflation as excuse to raise prices further than necessary, John Allan says.
Crackdown on forced prepayment meters ordered by government
Many customers have been left without heat and light when not able to afford topping up their prepayment meters.
Saturday, January 21, 2023
UK steel industry a whisker away from collapse - Unite
Unite has written a letter to the Business Secretary Grant Shapps seeking more government support.
Friday, January 20, 2023
Unemployment: Who are the millions of Britons not working?
The unemployment rate is close to its lowest point since the 1970s, but millions aren't working.
Theranos founder Elizabeth Holmes attempted to flee US, prosecutors claim
According to a new court filing, the 38-year-old bought a one-way ticket to Mexico last January.
Stagecoach co-founder Dame Ann Gloag charged with human trafficking offences
The Stagecoach co-founder, her husband and two members of her family strongly deny the allegations.
Elite chefs say kitchen work 'like going to war' - study finds
Michelin star chefs routinely face mental and physical abuse at work, a new study suggests.
Retail sales fall in December as shoppers cut back
Sales dropped by 1% with a sharp fall seen at non-food stores during the festive season.
Thursday, January 19, 2023
Cost of living: Japan inflation jumps to new 41-year high
The country's central bank is under pressure to increase interest rates to help curb rising prices.
Netflix: Reed Hastings steps down but subscribers jump
The streaming service is attracting new customers as co-founder Reed Hastings hands over the reins.
Starmer: UK car industry 'needs to be saved'
The Labour leader says the sector needs a strategic plan, following the collapse of Britishvolt.
Bailey: Inflation 'likely to fall rapidly' this year
Bank of England governor says UK may have "turned the corner" on price rises, but recession remains likely.
New FTX boss John Ray could bring back bankrupt crypto firm
John Ray said he may restart the platform to try to recover "value" for customers who lost money.
Oil and gas firm Harbour Energy blames job cuts on windfall tax
Harbour Energy is eyeing a reduction of its UK workforce, most of which is based in Aberdeen.
Wednesday, January 18, 2023
What happens if the US hits the debt ceiling?
The US is again poised to run up against its borrowing limit, amid political tensions in Congress.
Can I get a Cold Weather Payment and how much are they?
Cold Weather Payments are available to some when there is a run of sub-zero temperatures.
Tuesday, January 17, 2023
UK inflation dips but remains close to 40-year high
The rate of price rises slowed to 10.5% in December, according to official figures.
China: Fans rejoice as Marvel films return after apparent ban
After a long hiatus, two Marvel movies will screen in Chinese theatres in February.
Netflix offers pay of up to $385,000 for flight attendant
The firm says the role on its private jets requires "discretion and outstanding customer service skills".
UN workers' rights agency denies backing UK anti-strike laws
The US labour secretary also opposes the UK government's plans for “minimum service agreements”.
FTX: Collapsed crypto exchange says $415m was hacked
Last week the company told a bankruptcy judge in Delaware that it had recovered over $5bn in assets.
Train drivers to go on strike in February
The train drivers' union Aslef has rejected a pay offer for its members.
Britishvolt expected to fall into administration
Sources have told the BBC to expect a notice to be filed in insolvency courts this morning.
Pay rises at fastest pace for over 20 years, but below inflation
Wages rose at their fastest growth since 2001 excluding the pandemic, but still lag behind rising prices.
Monday, January 16, 2023
Covid: China 2022 economic growth hit by coronavirus restrictions
The world's second largest economy abruptly lifted its tough coronavirus restrictions in December.
Royal Mail ransomware attack leaves firms in limbo
Small businesses tell the BBC they are facing delays and losing money as overseas post is stopped.
Putin is weaponising food, says boss of fertiliser giant Yara
The boss of Yara says Russia's invasion of Ukraine has driven up the price of fertilisers and food.
The green trade row dividing the Davos elite
A transatlantic spat over green subsidies is casting a shadow over this year's World Economic Forum.
Twitter: Five ways Elon Musk has changed the platform for users
Twitter users say the social network has "a different vibe" since the billionaire took charge.
M&S to create 3,400 jobs as it opens new stores
The retailer says it will open 20 stores in the next year, including five in former Debenhams sites.
Britishvolt: Fears rise over future of British battery giant
Shareholders are voting on the future of the company which aims to make batteries for electric cars.
Dr Ranj Singh: Four ways to protect your mental health
The rising cost of living can be stressful but there are steps you can take to help.
Sunday, January 15, 2023
Energy boss warns higher bills are here to stay
Equinor's chief says while prices will not be as volatile, investment in renewables must be paid for.
Friday, January 13, 2023
Single-use plastic: Takeaways face ban in October
More details emerge of a ban that businesses say could make takeaways more costly.
US-China chip war: America is winning
The rivalry is entering a new phase, with global players increasingly caught in the crossfire.
Winklevoss firm charged in US over crypto sales
Its partner company is also accused of illegal sales to hundreds of thousands of investors.
India targets China's dominance in mobile phones
There's some way to go, but India hopes to build its own world-class mobile phone industry.
UK economy beats expectations with November growth
The UK economy grew by 0.1% in November, according to the Office for National Statistics.
Thursday, January 12, 2023
Cost of living: Argentina sees prices almost doubling last year
The South American country's inflation rate hit 95% as it faces an ongoing economic crisis.
Apple boss Tim Cook to have pay cut by over 40% this year
The technology giant's chief executive Tim Cook has faced criticism from investors over his salary.
Does easing US inflation point the way for the world?
It may be good news for the rest of the world if price increases in the US continue to slow.
Decision looms on future of Britishvolt gigafactory
The site, intended to produce electric car batteries, has had a troubled start up so far.
Royal Mail hit by Russia-linked ransomware attack
The group is working "around the clock" to resolve severe disruption to overseas deliveries.
Royal Mail: Overseas post still disrupted after 'cyber incident'
The group said its team was working "around the clock" to resolve disruption caused by a "cyber incident".
Workers may be able to still claim sickness benefits
Under the proposals, some claimants would be allowed to keep receiving payments even if they find work.
Wednesday, January 11, 2023
FTX: Collapsed cryptocurrency giant recovers $5bn of assets
The firm's former chief executive Sam Bankman-Fried is accused of orchestrating an "epic" fraud.
Sri Lanka's central bank urges China and India to reduce its debts
The crisis-hit Indian Ocean state cannot access a $2.9bn bailout until its debts to China and India are resolved.
Call to ban 'forced' switch to prepayment meters
Citizens Advice says people moved to the pay-as-you-go method risked going without heat and light.
World's richest man promotes daughter to head Dior
Bernard Arnault made his fortunes as chief executive of French fashion giant, LVMH.
Rail strikes: Unions say solution is 'further away' than ever
The head of train drivers' union Aslef says a solution is "further away" than ever, despite talks.
Record Christmas for Sainsbury's despite rising costs
The supermarket giant said overall sales were up by 7.1% during the festive period.
Tuesday, January 10, 2023
Cost of living: Uniqlo to raise pay in Japan by up to 40%
The move comes after the country's prime minister called on firms to increase wages as prices rise.
Cryptocurrency: UK Treasury considers plan for digital pound
The economic secretary to the Treasury says the UK is committed to becoming a world crypto hub.
Demi Lovato poster banned for being offensive to Christians
The ad for the singer's new album linked sexuality to a sacred symbol, the advertising watchdog says.
Grant Shapps unveils new powers in strike laws
Unions say the plans for minimum service levels are "undemocratic and unworkable".
Britishvolt: Takeover talks with Indonesia-linked investment group
The plans for an electric vehicle battery factory in Northumberland have been beset by delays.
Monday, January 9, 2023
December sales bounce due to price rises not shopping sprees
Total retail sales jumped by almost 7% but price rises meant shoppers bought less but spent more.
Will the metaverse be your new workplace?
Some predict that in the future we'll work in virtual worlds, but others are not convinced.
Energy bill support for firms to be reduced from April
The government says the current level of support for firms was "unsustainably expensive".
McDonald's: Former boss Easterbrook fined for misleading investors
The chain fired Stephen Easterbrook after finding he had had a consensual relationship with an employee.
UK space launch: Historic Cornwall rocket mission set to blast off
A modified jumbo jet will fly out of Cornwall on a mission to send nine satellites to orbit.
Brewdog boss pays out £500,000 in gold can row
James Watt says he made some "costly mistakes" in ads offering people a chance to win gold cans.
Sunday, January 8, 2023
Union talks aimed at ending strike action
Officials are expected to hold separate talks on Monday with health, teaching and rail unions.
US Farmers win right to repair John Deere equipment
The grassroots movement has grown among consumers around the world as repair costs soar.
Single-use cutlery and plates to be banned in England
Figures suggest more than four billion pieces of single-use cutlery are used in England each year.
Fashion brands paid Bangladesh factories less than cost - report
High street retailers paid suppliers in Bangladesh less than production costs, researchers claim.
Strike daily: How Monday 9 January strikes will affect you
What you need to know about industrial action taking place on Monday.
Jack Ma to give up control of fintech giant Ant Group
The billionaire has seldom been seen in public since criticising China's financial sector in 2020.
Saturday, January 7, 2023
The pandemic entrepreneurs moving into the High Street
Entrepreneurs who started internet firms in lockdown are making the transition to bricks and mortar.
Friday, January 6, 2023
Are tech job cuts a warning for the wider economy?
A question mark hangs over whether job cuts seen in the tech sector will spread further as the economy slows.
Flying boats and other tech for cleaner shipping
The shipping industry is experimenting with foils, sails and fuel to make itself less carbon intensive.
McDonald's plans corporate job cuts and restructuring
The global burger chain did not confirm details about the scope of the cuts it is planning.
House price growth slows as living costs tighten
Annual house price growth more than halved in December to 2%, according to Halifax.
Thursday, January 5, 2023
Wind generated a record amount of electricity in 2022
More electricity in Great Britain last year came from renewable sources than from fossil fuels.
Taliban and China firm agree Afghanistan oil extraction deal
It is the first major energy extraction agreement with a foreign firm since the Taliban took power.
Samsung sees profit plunge by 69% as chip prices slump
The slump comes as the global economic slowdown hits memory chip prices and demand for devices.
Many Android phones to get satellite connectivity
When there is no mobile coverage, phones will be able to send and receive emergency texts via satellite.
Staff must be free to work for employer's rivals - US regulator
Officials say non-compete clauses unfairly limit pay and opportunities for some 30 million Americans.
Keir Starmer: Labour would repeal new law restricting strikes
Reports suggest ministers want minimum service levels in the NHS and on the railways during strikes.
Covid: Hong Kong to lift year-long ban on hamster imports
Officials in the city previously ordered a culling of the pets to stop the spread of Covid-19.
Next warns of 8% price rise for spring and summer
The High Street retailer expects price increases to continue into the second half of 2023.
Wednesday, January 4, 2023
Amazon to shed over 18,000 jobs as it cuts costs, CEO says
The announcement comes after the technology giant said last year that it would reduce its headcount.
Strikes may be stepped up, train drivers' union warns
Train drivers union Aslef’s leader says action may escalate, and members are in it for the long haul.
UK new car sales hit 30 year low but electric vehicle demand soars
A chip shortage contributed to the drop in car registrations in 2022 - but electric cars boost market share.
Meta fined €390m over use of data for targeted ads
The EU data watchdog says the way Meta obtained permission to process users' data for ads broke data law.
Mortgage approvals sink to lowest level in two years
New figures from the Bank of England show that they dropped to their lowest level since the middle of the pandemic.
Warm winter may lower energy bills later this year
Forecasts suggest bills for households may drop later in the year, although a rise in April remains certain.
Tuesday, January 3, 2023
US regulators warn banks over cryptocurrency risks
The announcement comes just two months after the collapse of FTX sent shockwaves through the industry.
Tuesday to Thursday is the new office working week, data suggests
Analysis of mobile phone data finds people are swapping big cities for life by the seaside.
Shoppers face higher prices after energy bill help ends
Shops may have no choice but to up prices when energy bills rise in April, the retail industry body says.
Microsoft recognises first labour union in US
Quality assurance workers at the video production company ZeniMax studios agreed to form a labour union.
Sam Bankman-Fried pleads not guilty to fraud
'King of Crypto' Sam Bankman-Fried could face more than 100 years in prison if convicted.
Tom Karen: Designer behind 1970s' cult classics dies
Tom Karen helped create some famous children's products from the 1970s as well as the Bond Bug car.
Firms call for clarity over energy bill support
Gyms and hospitality firms say they need to know if they will get help from the government after March.
Cost-of-living payments: Three instalments totalling £900 confirmed
People receiving benefits and on a low income will receive the money in three instalments.
Monday, January 2, 2023
Tesla reports record 1.3 million deliveries for 2022
However, Elon Musk's electric car maker missed Wall Street forecasts for the last three months of the year.
Four-day working week: How we got here - and where next
Working four days a week might seem radical. But it wasn't so long ago that a six-day week was normal.
Train strikes: People returning to work face more strikes
Only 20% of services are expected to run this week due to walkouts by RMT and Aslef union members.
Dubai scraps 30% alcohol tax and licence fee in apparent bid to boost tourism
It will also stop charging for personal alcohol licences - something anyone who intends to drink needs to carry.
Sunday, January 1, 2023
Retail: Last year saw a big jump in the number of shops closing
A total of 17,145 shops shut last year across the UK's High Streets, shopping centres and parades.
Third of world in recession this year, IMF head warns
Kristalina Georgieva said 2023 will be "tougher" than last year as the global economy faces challenges.
Shops face challenging year ahead, says industry body
The first half of 2023 will be particularly difficult, the British Retail Consortium predicts.
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