Friday, March 31, 2023

House prices see biggest annual fall since 2009

Property prices dropped by 3.1% in the year to March, the Nationwide says.

UK economy grew at the end of last year

The economy performed better than previously estimated in the final three months of 2022, new figures show.

Thursday, March 30, 2023

US-China chip war: Japan plans to restrict some equipment exports

The measures, which are planned to take effect in July, follow similar moves by the US and the Netherlands.

Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff

Virgin Orbit will cease operations for the foreseeable future, according to media reports.

Heathrow strikes to go ahead for 10 days over Easter break

Last-ditch talks between Heathrow Airport and the Unite union representing security guards break down.

Spice sales boom as home cooks get more adventurous

The global spices sector is thriving as the pandemic is said to have made people try more recipes.

Wednesday, March 29, 2023

'Power up Britain' plan targets emissions and costs

Ministers say the UK should have Europe's cheapest electricity by 2050, but critics call plans a "rehash".

Disney sidesteps DeSantis board with royal clause

The Florida governor's oversight board says Disney circumvented it with an agreement citing King Charles.

Dermalogica founder shares her business advice

Jane Wurwand, who co-founded the skincare brand Dermalogica, shares her advice for our CEO Secrets series.

Starbucks' Howard Schultz denies union busting

Democrats called the denials by former Starbucks chief Howard Schultz "not ...believable".

Renting: 'We were kicked out because we complained'

Renters tell the BBC how they have been evicted for complaining about the state of their homes.

Mortgage lending hits lowest since 2016 excluding pandemic

Borrowing falls sharply as rates rise but more mortgage applications are approved, says Bank of England

Tuesday, March 28, 2023

Russian influx drives up rental prices in Dubai

Average rents in the Emirate rose by more than a third last year as soaring demand outstripped supply.

The tech helping driverless cars see round corners

A trial in London used existing street cameras to help an autonomous car navigate city streets.

AI could replace equivalent of 300 million jobs - report

ChatGPT-style AI will have a large impact but new jobs could emerge, a Goldman Sachs report says.

Gary Lineker wins appeal over £4.9m tax bill

The sports presenter's dispute with HMRC centred on whether he was a freelancer or an employee.

Royal Mail talks over pay on brink of collapse

A source says continuing strike action could mean Royal Mail is put into administration.

Bank of England on heightened alert for further banking turmoil

Bank of England says it remains vigilant after US bank collapses spark fears over financial stability.

Monday, March 27, 2023

Elon Musk: Twitter boss announces blue tick shake-up

Only paying users will have their content recommended and be allowed to vote in polls from 15 April.

The web firm that wants to stop you getting 'cancelled'

Website and app Rumble says it offers an uncensored rival to the likes of YouTube and Twitter.

NFT: Plans for Royal Mint produced token dropped by government

Plans for a government-backed digital token, ordered to be created by Rishi Sunak, have been axed.

Binance accused of breaking US financial laws

The move comes as US regulators ramp up their regulation of the cryptocurrency industry.

Heathrow strike forces BA Easter flight cancellations

The move is due to a planned 10-day strike by some Heathrow security workers in the Unite union.

Outrage at public contract for firm behind P&O sackings

It comes after DP World is chosen to run a new freeport, despite having sacked 800 workers without notice last year.

Jack Ma: Alibaba founder seen in China after long absence

The 58-year-old reportedly visited a school that he founded in his hometown of Hangzhou.

Silicon Valley Bank: Collapsed US lender bought by rival

The collapsed lender was seized by US regulators after a run on the bank.

Sunday, March 26, 2023

Elon Musk: Twitter says parts of source code leaked online

Elon Musk has also reportedly indicated Twitter is now worth less than half the amount he paid for it.

Cost of living: What are your rights as a tenant when you're renting?

With one in five people now renting in the UK, it's important to understand your rights as a tenant.

John Lewis: Ex-boss says changing ownership model would be a tragedy

Andy Street says the department store chain should not change its staff ownership structure.

Ovo launches energy deal below government price cap

The supplier launches 12-month tariff of £2,275, as falling gas prices finally start feeding through to bills.

Cardiff: Howells, the store known for its window displays, food halls and ghosts

As the department store closes its doors, people share their memories of working there.

Saturday, March 25, 2023

Energy firms call for windfall tax to fall with prices

It comes ahead of a package of measures on energy security, which the BBC understands will be announced on Thursday.

Cost of living: Women feel trust was 'violated' on housing app

Women feel they are being forced to risk their safety when house hunting due to financial pressures.

Friday, March 24, 2023

John Lewis: Mary Portas warns retailer it has 'let go' of its soul

In an open letter the retail consultant says the store is "part of our collective cultural identity".

Pharmaceutical firm proposes Newbie plant closure

The company says about 65 jobs are at risk at the facility in Newbie near Annan in southern Scotland.

Firms hit back at Bank governor in prices row

Wetherspoon boss Tim Martin says bank managers are "breathing down the neck" of business owners.

Banks shares hit as investor nerves return

Worries over the financial strength of the sector persist, with Deutsche Bank shares down 13%.

UK retail sales boosted by second-hand and discount stores

Retail sales rose strongly last month as cash-strapped shoppers looked for cheaper options.

Bank warns interest rates will rise again if firms hike prices

The Bank of England boss urges firms to avoid price rises that fuel inflation and hurt the least well off.

Thursday, March 23, 2023

TikTok CEO Shou Zi Chew's Congress showdown: Five key moments

Tech executives don't get an easy ride before Congress, but Chew's hearing was exceptionally harsh.

Do Kwon: Fugitive crypto mogul believed caught in Montenegro

Police believe they have arrested Do Kwon, the crypto boss accused of a multibillion-dollar fraud.

Jack Dorsey business target of Hindenburg report

Jack Dorsey's Block sees shares drop after famed short-seller Hindenburg levels claims.

Wales freeports for Milford Haven-Port Talbot, Anglesey

The two new areas will have tax and duty relief and simplified customs, with hopes for 20,000 jobs.

Wednesday, March 22, 2023

UK interest rates: Another rise expected as prices soar

Analysts expect the Bank of England to raise the rate from 4% to 4.25%, creating higher mortgage costs.

Ikea told to tackle sexual harassment after UK complaint

The firm signed an agreement to protect staff in the UK after concerns over how it handled an allegation.

TikTok's US future at stake as boss faces Congress showdown

The video-sharing app's chief executive will testify to US lawmakers in a much-anticipated grilling.

Shou Zi Chew: Who is the TikTok CEO?

The 40-year-old is facing questioning from US lawmakers amid growing suspicion of the Chinese app.

Third of flights delayed in 2022

Fewer UK flights were on time last year than before the pandemic, says aviation regulator.

US raises interest rates despite banking turmoil

The Federal Reserve moves borrowing costs higher as it focuses on efforts to stabilise prices.

Rail strikes planned in March and April suspended

RMT union members who work for 14 train companies, including train guards, were due to walk out on 30 March and 1 April.

Amazon increases starting pay for UK workers again

The online giant follows other firms in raising pay amid a labour shortage and strikes across the UK.

Does the UK have an inflation problem?

February's shock rise in inflation figure means the UK now has the highest rate among major economies.

Veg shortages drive surprise jump in UK inflation

The cost of living unexpectedly rises driven by sharp rises in food prices, official figures show.

Tuesday, March 21, 2023

Bill Gates: AI is most important tech advance in decades

The former Microsoft boss says AI is the second revolutionary technology he's seen in his lifetime.

Stocks rebound as US and UK seek to calm investors

Markets higher after UK and US again seek to calm investor fears over banks' stability.

Great British Railways: Derby chosen as location for new rail HQ

The new body will procure passenger services and set most fares and timetables.

Tesco to cut the value of Clubcard rewards scheme

The supermarket says vouchers will be worth a third less from 14 June.

Car-charging and dog hotels: Seven perks to lure you to the office

Companies are trying a variety of incentives to lure staff back to the office.

Energy bill help drives UK borrowing to February record

The government borrowed its highest amount of any February to fund support for energy bills.

Monday, March 20, 2023

Sri Lanka: $2.9bn IMF bailout for struggling economy

The deal is a lifeline for the country which is facing its worst economic crisis in over 70 years.

Amazon to cut another 9,000 jobs

The online retail giant said the positions would be closed "in the next few weeks".

RMT members at Network Rail vote to accept pay deal

Rail workers have voted on a revised pay offer, ending walkouts for some RMT strikers.

Rishi Sunak says UK banks safe as investors remain wary

Shares in European banks are volatile after Credit Suisse's emergency rescue and fears of a wider crisis.

Avanti West Coast contract extended by six months

Avanti West Coast, which was criticised over reliability, has made improvements, the government says.

UK wages failing to keep up with costs - Resolution Foundation

Fifteen years of stalling wage growth has left British workers worse off, new analysis suggests.

Sunday, March 19, 2023

Central banks to boost flow of US dollars amid market unease

Six central banks move to keep credit flowing worldwide after two big institutions collapsed.

UBS agrees to rescue troubled bank Credit Suisse

Swiss banking giant UBS agrees emergency rescue deal for rival Credit Suisse in government-brokered takeover

William Hill: Gambling addict says bookmaker didn't help him stop

A teacher says William Hill should have done more to stop him betting when he was staking thousands.

Saturday, March 18, 2023

Credit Suisse bank: UBS said to be in takeover talks with troubled rival

Emergency talks are reported in Zurich as regulators seek a deal for Credit Suisse before Monday.

Friday, March 17, 2023

Disruption for train passengers as rail strikes continue

RMT members at 14 train operators are walking out, leaving some areas of the UK with no services.

Fraud victim gets surprise £153,000 refund despite rules

A victim who was targeted and groomed by criminals, was helped by Radio 4's Money Box programme.

Heathrow security to strike for 10 days including Easter

The airport says contingency plans will be in place when 1,400 guards walk out in a pay dispute.

Ann Summers boss Jacqueline Gold dies aged 62

Ms Gold is credited with transforming the company into a multi-million pound business.

Aldi raises pay as businesses battle for staff

The supermarket group has raised its national hourly wage to £11.40 and £12.85 for Greater London.

Passport office workers to strike for five weeks over pay dispute

The strike action will have a "significant impact" on deliveries of passports as summer approaches.

Thursday, March 16, 2023

What has happened to pay in the UK?

Workers are calling for improved pay to tackle the cost of living crisis, but how have wages changed?

What China’s baby woes mean for its economic ambitions

The country's ageing population and shrinking workforce are a threat to its economic growth.

Ryan Reynolds' Mint Mobile sale to T-Mobile earns actor over $300m

He is forecast to earn $300m from a telecom sale, cementing his status as a Hollywood business icon.

Budget 2023: Warning pension tax breaks may make some retire early

The Resolution Foundation claims scrapping a cap on tax-free pensions is 'poor value for money'.

TikTok to be banned on UK government phones

The company has denied passing users' information to the authorities in Beijing.

John Lewis axes staff bonus again as losses surge

The department store operator and Waitrose owner says shoppers 'felt the pain of inflation'.

Wednesday, March 15, 2023

Virgin Orbit to pause all operations from Thursday

The decision comes after the failure of the first ever satellite mission launched from the UK.

Cigarette prices rise but draught beer duty is frozen

Duty for draught pints is frozen but the average price of a pack of 20 cigarettes rises to £14.39.

Stock markets hit again by banking worries

Shares in European banks fall as investors remain nervous after the collapse of Silicon Valley Bank.

£87,000 bonus for Ferguson bosses branded 'unacceptable'

Scotland's public spending watchdog found the money was paid without being cleared by the government.

Energy bill help to continue until end of June

It is one of a series of measures being taken by the government to try to grow the economy.

Budget: Jeremy Hunt to expand free childcare to one and two-year-olds

Plans aimed at encouraging parents back to work are expected to be announced in the Budget.

Tuesday, March 14, 2023

Argentina inflation soars past 100% mark

Inflation hits triple digits for the first time since the period of hyperinflation in the early 1990s.

Budget 2023: Why more parents face losing child benefit

Thresholds being left unchanged for at least 10 years means many more people are being affected by government policies.

Budget to boost lifetime allowance for pension savings

Increasing the allowance in Wednesday's Budget means workers could avoid paying more on their pension.

Monday, March 13, 2023

US court rules Uber and Lyft workers are contractors

Labour groups had opposed contractor status, saying it robbed them of rights like sick leave.

Has social media killed the famous advert?

Advertising veteran Sir John Hegarty explains why it is hard to make hit adverts in a digital world.

Shark Tank India: How a start-up in Kashmir is inspiring thousands

FastBeetle's success on Shark Tank India is motivating youngsters in the region to dream big.

Vinyl records outsell CDs for first time in decades

Streaming may be king, but fans of physical albums are weighing in with record sales growth

Silicon Valley Bank: Shares fall as fears persist about failed US bank

Stock markets drop despite efforts to limit the fallout from Silicon Valley Bank's collapse.

Masatoshi Ito, billionaire who made 7-Eleven a global giant, dies at 98

Masatoshi Iso's company brought 7-Eleven to Japan - where a quarter of stores are now located.

Inflation: Alcopops out and frozen berries in of cost of living measure

Healthier shopping habits are reflected in the basket of goods used to calculate rising prices.

HSBC swoops in to rescue UK arm of Silicon Valley Bank

The sale of the UK arm of SVB to HSBC will come as a relief for many UK tech companies.

Sunday, March 12, 2023

UK firms await government help after US bank collapse

The government is expected to announce support for companies after Silicon Valley Bank went bust.

TikTok users shrug at China fears: 'It's hard to care'

Political outcry about TikTok national security risks has made little dent among users.

Silicon Valley Bank: Offer made for UK arm of failed US lender

It comes as the government and Bank of England scramble to protect customers after Silicon Valley Bank collapsed.

Strikes Update: How Monday 13 March junior doctors' strike will affect you

What you need to know about the junior doctors' strike by the BBC's Zoe Conway.

Spring Budget: Prepayment energy meter bills to be cut by £45

The government is set to reduce prepayment energy bills for more than four million households.

Aramco: Saudi state-owned oil giant sees record profit of $161bn

After a year when petrol prices soared, the Saudi firm announces a best-ever set of figures.

UK to help tech firms after Silicon Valley Bank collapse

Tech firms caught up in bank collapse will have cashflow needs met, the government says.

Saturday, March 11, 2023

Budget 2023: Universal credit claimants to get more childcare cost help

The announcement in next week's Budget is part of government plans to encourage people back to work.

Thursday, March 9, 2023

UK economy grows in January

Official figures reveal that the economy expanded by 0.3% at the beginning of the year.

Silicon Valley Bank share slump rocks financial markets

The four largest US banks, including JP Morgan and Wells Fargo, lost over $50bn of their market value.

Young homeowners most likely to face mortgage strain, watchdog says

Some 356,000 borrowers could face repayment difficulties next year, the Financial Conduct Authority says.

Energy bills: 'My supply fee has gone from 29p to £4 a day'

Restaurants, pubs and bars are being hit with 600% rises in daily fees to energy suppliers, says UK Hospitality.

Boots loyalty points value reduced

Customers will receive 3 pence worth of loyalty points for every £1 spent, down from 4 pence.

Asda and Morrisons lift limits on some fresh produce

Many supermarkets put restrictions on sales of some fresh produce amidst supply shortages.

Ex-Goldman Sachs Malaysia boss gets 10 years for 1MDB scheme

The bank's ex-Malaysia head was found guilty last year in one of the world's biggest financial scandals.

Wednesday, March 8, 2023

US-China chip war: Netherlands moves to restrict some exports

The measures will affect Dutch firm ASML, which is a key part of the global microchip supply chain.

UK microchip firms ask government for hundreds of millions

The boss of a leading microchip maker warns without huge investment companies will go abroad.

Cost of living: What do I do if I can't afford to pay my debts?

What help and options are available to people struggling with debt repayments?

Bao Fan: Why do Chinese billionaires keep vanishing?

The mystery over the latest missing business leader comes as Xi Jinping tightens his grip on China.

Adidas unsure what to do with €1.2bn Yeezy goods

Adidas could sell products left from its former deal with Kanye West, known as Ye, and donate the profits.

Frankie and Benny's owner to close 35 more restaurants

The firm, which also owns Chiquito, says it is closing sites due to rising costs.

Tuesday, March 7, 2023

Budget 2023: What a florist, gym and cafe want to see

Firms in Slough tell us what they are hoping to hear from the chancellor next week.

RMT members suspend strike action at Network Rail

The RMT union has suspended all industrial action at Network Rail after receiving a new pay offer.

US interest rates could go higher than expected

US stock markets fell following the remarks, which come ahead of another rate announcement.

Emergency coal power plants used for first time as UK sees cold snap

Two coal-fired power stations have begun making electricity again to keep up with demand during the cold weather.

Greggs to open 150 shops and extend opening hours

The move comes after the bakery chain posted bumper sales for last year, but also put up prices.

Struggling renters must move further out of London, says Foxtons boss

The boss of London's biggest estate agency says a lack of available properties is driving people further out.

Monday, March 6, 2023

Firefighters will not strike after accepting new pay offer

Fire Brigades Union members vote to accept backdated 7% pay rise, with a further 5% increase in July.

TransPennine Express and Avanti West Coast criticised by leaders

Political leaders are meeting in Newcastle to discuss ongoing issues with trains in the North.

Talks to avoid more rail strikes on brink of failure

Union members and rail bosses are negotiating ahead of more strikes on Thursday.

CBI boss Tony Danker steps down after misconduct allegations

Tony Danker, the boss of the UK's biggest business group, has stepped down after allegations of misconduct.

Starbucks to open 100 new UK stores this year

The coffee giant's expansion comes after a big jump in UK sales in 2022.

Cost of living: 'I skip university lectures to do paid work instead'

Heidi is one of many students who say the rising cost of living is affecting their studies.

Sunday, March 5, 2023

Twitter can’t protect you from trolls any more, insiders say

Current and former employees of the company say there are serious ramifications from mass lay-offs.

Ambulance strikes: Unite union suspends action in England

The Unite union suspends strikes in England to enter pay talks, following the Unison and GMB unions.

Toblerone: Swiss rules mean chocolate bar to drop Matterhorn from packaging

Production of some of the chocolate is moving outside Switzerland so the Alpine peak can no longer be used.

Scottish bakery Morton's Rolls 'ceases trading'

Companies House said it could strike off the bakery after it missed a deadline to file accounts.

Food shortages due to 'supermarket culture', says Leon co-founder

Henry Dimbleby, co-founder of Leon, says UK vegetable shortages are a result of "market failure".

Rail fares go up in England and Wales by 5.9%

The rise is below the rate of inflation but campaigners want reforms due to unreliable services.

Five ways to save money on train tickets

As rail fares increase, we find the ways passengers can keep journeys as cheap as possible.

Saturday, March 4, 2023

King's Coronation: Pubs to stay open longer in England and Wales

People in England and Wales will get served for an extra two hours to mark King Charles III's coronation.

Friday, March 3, 2023

Zoom boss Greg Tomb fired ‘without cause’

The video conferencing company abruptly terminates its president's contract.

Money Diary: 'My DJ gigs bring in £3,000 a month'

Aaron, a 33-year-old DJ from east London, shares his weekly spending diary.

Thursday, March 2, 2023

Adani Group: Embattled Indian giant strikes $1.87bn US deal

The investment will be split among four Adani companies including flagship business Adani Enterprises.

Tomato shortage: How far is Brexit to blame?

Many people have claimed Brexit is to blame for the UK tomato shortage - what is the evidence?

Ros Atkins on... The creeping TikTok bans

The app has been banned from employee phones by various governments amid security concerns.

HS2 delays being considered to cut rising costs

HS2's boss admits delays are among options being considered to combat the impact of inflation.

Building giant CRH chooses US over London in blow to UK

CRH says it is considering moving its main share listing in a further blow to the UK stock market.

Wednesday, March 1, 2023

Gautam Adani: India court sets up panel to probe Adani fraud allegations

The court has appointed a five-member panel to probe fraud allegations against the Adani Group.

Starbucks illegally fired US workers over union, judge rules

The coffee chain was ordered to rehire the ex-workers and compensate others who were affected.

Drugs giant Eli Lilly caps monthly insulin costs in US at $35

The cap on the diabetes medication by the drugs giant could bring cost relief to many Americans.

Mortgage prisoners: Government made £2.4bn from loan sales, report says

It must help 'mortgage prisoners' trapped with loans it sold to investment firms, a report says.

Pret A Manger gives staff third pay rise in a year

The coffee chain follows other retailers in boosting pay amidst a labour shortage.

Court bid to protect against ‘ghost landlords’ fails

Property owners welcome ruling that defines who a landlord is, but campaigners say it lets down tenants.

Annual house price fall biggest in over 10 years

House prices fell 1.1% in the year to February, the worst performance since 2012 outside the pandemic.