Wednesday, May 31, 2023
US-Taiwan relations: New trade deal to be signed amid China tensions
Relations between Washington and Beijing have been increasingly tense in recent years.
Sackler family wins immunity from opioid lawsuits
The wealthy owners of Purdue Pharma will be protected in exchange for a multi-billion dollar settlement.
Air New Zealand weighing passengers before flying
The airline says it is required to know the average weight of everything on board to improve fuel efficiency.
CBI president in early exit as lobby giant fights to survive
Brian McBride is to step down earlier than planned after the body was rocked by allegations of misconduct.
ArrDee: Alcohol adverts featuring rapper banned by watchdog
The regulator said the advert for Litty Liqour was "likely to encourage excessive consumption of alcohol".
Disruption as fresh wave of train strikes begins
Train drivers will walk out on Wednesday, with further strikes planned for Friday and Saturday.
Tuesday, May 30, 2023
Elon Musk: Tesla boss on first China trip in over three years
The multi-billionaire has not yet publicly commented on the visit, which comes amid US-China tensions.
Nvidia hits $1tn valuation as investors buy AI buzz
Investors excited about the possibilities for artificial intelligence have sent the US chipmaker's value soaring.
Strikes Update: How train drivers' walkout on Wednesday will affect you
What you need to know about the walkout by Aslef train drivers, by the BBC's Zoe Conway.
Asda buys petrol station group EG for £2.3bn
The deal combines two businesses that are both already owned by the billionaire Issa brothers.
Monday, May 29, 2023
Foxconn: iPhone maker hikes pay ahead of new model launch
Foxconn's move comes ahead of the expected launch of Apple's iPhone 15 later this year.
Amazon to offer parents term-time-only working
The online giant is offering a flexible contract but the GMB union says workers want higher pay.
Elizabeth Holmes is going to prison. Will she ever pay victims too?
Experts say victims often never get their money back from those who defrauded them.
Sunday, May 28, 2023
Food price cap will not make a difference - retailers
The government wants to encourage supermarkets to impose voluntary price caps on some food products.
Mars bar plastic wrapper swapped for paper
Mars trials environmentally friendly paper wrappers for some of its chocolate bars.
US debt ceiling deal ready for Congress vote, Joe Biden says
President Joe Biden said he had not made too many concessions to Republicans as part of the agreement.
China's C919 passenger plane enters into service
China hopes the C919 will end the dominance of Airbus and Boeing - but it relies on Western components.
How prosperity fuels dowry demand in India
Researchers studied 74,000 marriages that took place in India between 1930 and 1999.
Who is Linda Yaccarino, Twitter's 'superwoman'?
Can new chief executive Linda Yaccarino fix Twitter?
Saturday, May 27, 2023
Plans for supermarket price cap on basic food
Prices on products like bread, milk and sugar could be capped under a voluntary scheme.
JP Morgan CEO Jamie Dimon deposed over bank's Jeffrey Epstein ties
Two lawsuits accuse the bank of ignoring signs it was profiting from the long-standing relationship.
Friday, May 26, 2023
Post Office used racist terms for sub-postmasters in official guidance
A document shows racist language was used to describe sub-postmasters being wrongly investigated.
Thursday, May 25, 2023
Twitter engineering boss quits after DeSantis launch glitches
Ron DeSantis' launch of his White House presidential campaign was hit by technical problems.
First Republic: 1,000 jobs cut by new owner JP Morgan
It comes after First Citizens, which bought the US operations of another troubled lender, announced job cuts.
Neuralink: Elon Musk's brain chip firm says US approval won for human study
The billionaire's Neuralink implant company wants to help restore people's vision and mobility.
US Congress closing in on debt ceiling deal - reports
Negotiators are said to be nearing a possible deal to cut spending for two years, US media reports.
Sainsbury’s boss: We are not profiting from high prices
Supermarkets have been accused of "greedflation" - putting prices up to bolster profits.
When will we start seeing energy bill deals again?
With bills set to drop from July, fixed deals could be due to make a comeback, say experts.
Starling Bank chief Anne Boden to step down amid record profit
Anne Boden says nobody believed a "5ft-tall Welsh woman in her mid-50s" could achieve what she has.
Wednesday, May 24, 2023
Is the past year's spike in strike action here to stay?
BBC economics editor Faisal Islam asks whether a historic surge in industrial action is likely to persist.
Container ship grounded in Suez Canal
In March 2021, one of the largest container ships in the world blocked the canal for six days.
Silicon Valley Bank: 500 jobs cut by new owner First Citizens
The move comes two months after SVB's collapse triggered fears of a banking crisis.
Expected energy price cap cut will see bills fall
The regulator will soon confirm the change, which is likely to knock £450 off a typical annual bill.
Are investors finally nervous about the US debt ceiling?
US financial markets falter as debt ceiling talks continue. So is Wall Street getting nervous?
Tuesday, May 23, 2023
Virgin Orbit: Branson’s space mission ends after rocket failure
Virgin Orbit's shutdown follows a major launch failure and most of staff have been laid off.
Formula 1: Honda to return as Aston Martin engine partner in 2026
Honda will return to Formula 1 in 2026 as engine partner for the Aston Martin team.
Chip war: Apple strikes major US-made semiconductor deal
The move comes as a trade row centred on the tech industry intensifies between Washington and Beijing.
South Africa load-shedding: The roots of Eskom's power problem
How corruption backed by a criminal network have led to South Africa's worst-ever power cuts.
ChatGPT: Can China overtake the US in the AI marathon?
Washington's efforts to limit China's access to crucial cutting-edge technology continue.
Why car parks are the hottest space in solar power
Car parks are a good place for solar panels, providing shade and electricity where it is needed.
Netflix begins UK crackdown on password sharing
The streaming giant will charge users for sharing passwords in the UK and the US.
Indian banks start exchanging withdrawn 2,000-rupee notes
The 2,000-rupee notes have been withdrawn, sparking concerns and confusion.
Monday, May 22, 2023
Bird flu: Brazil declares animal health emergency after several cases found
The country is the world's largest exporter of chicken meat, and wants to stop the virus spreading.
WhatsApp to allow users to edit messages within 15 minutes
The instant-messaging service, which is used by 2 billion people, counts India as its largest market.
TikTok sues Montana to overturn first US state ban
The western state last week became the first in the US to ban the hugely-popular video platform.
Top economist calls for 'lenient' migration rules
Andy Haldane's comments come after the prime minister said legal migration was too high.
Train wi-fi at risk as part of cost-cutting move
The government says wifi is not a priority for passengers, but one expert claims trains could lose custom.
Sunday, May 21, 2023
Interest rate 'rigging' evidence 'covered up' by banks
This evidence was not shown to juries where bankers were jailed for smaller-scale interest rate 'rigging'.
US debt ceiling: Joe Biden and Kevin McCarthy seek to break impasse
The president flies home from the G7 summit amid hopes of a deal with top Republican Kevin McCarthy.
China bans major chip maker Micron from key infrastructure projects
It is China's first major move against a US chip maker, as tensions increase between Beijing and Washington.
Why food bills aren't shrinking - five things to know
Prices in the shops remain much higher than a year ago, despite falls in energy and food costs.
Mobile fraud: Thieves 'shoulder surfing' victims to steal phones
Criminals are exploiting our frequent use of banking apps on mobile phones, a senior fraud officer warns.
CBI banned alcohol-only events after staff party, says ex-chief
Former boss Dame Carolyn Fairbairn says she took action following poor behaviour at the event.
Government rules out more help on energy bills
The price cap on gas and electricity is set to fall, but at about £2,000 remains historically high.
Saturday, May 20, 2023
Mike Ashley doesn't get Flannels' luxury appeal, says CEO
Frasers CEO Michael Murray says his father-in-law can't understand why people spend so much on luxury fashion.
Mortgage deals: Five new products aiming to beat interest rates rise
As interest rates rise, some lenders are offering no-deposit mortgages and removing the "stress test".
Energy bills predicted to fall from July by nearly £450
Ofgem is poised to announce a cut in its price cap next week, according to an energy consultancy firm.
Friday, May 19, 2023
Finance delays for divorcing teachers and NHS staff as pensions recalculated
Both current and retired staff face "a severe and drastic impact" from the delays, say solicitors.
G7 Summit: Africa seeks new role as nations eye its resources
As wealthy nations compete, Africa wants to keep more of the benefits from its natural resources.
Flooding: Toilet bungs and other prevention measures to save homes
A campaign will urge homeowners to consider simple measures to save costs and heartache from flooding.
Ed Sheeran, Adele, and Harry Styles among richest Britons under 35
The musicians all have wealth of more than £150m, according to the latest Sunday Times Rich List.
Thursday, May 18, 2023
Critics say £1bn for UK chip industry not enough
One CEO says the government's semiconductor strategy does not address the needs of UK chipmakers.
Could a US debt default unleash global chaos?
The BBC examines four ways you could be affected if the US fails to reach a deal on its debt.
'We are selling a product that we hope gets discontinued'
The firms aiming to help eradicate invasive species by making commercial use of them.
Disney scraps $867bn Florida plan amid Ron DeSantis feud
The company makes the decision amid an escalating legal battle with Florida Governor Ron DeSantis.
Rishi Sunak seeks closer ties with Japan ahead of G7 summit
Rishi Sunak says a new defence partnership will see closer cooperation between the armed forces.
Rishi Sunak talking to EU over threat to UK electric cars
The Prime Minister says the government is talking to the EU over trade rule changes which could hit UK car plants.
BT to cut up to 55,000 jobs by end of decade
The telecoms giant is to cut its workforce by up to 55,000 by the end of the decade.
Wednesday, May 17, 2023
Epstein: Deutsche Bank to pay $75m over sex-trafficking lawsuit
Deutsche Bank was accused of enabling the American financier's alleged sex trafficking ring.
Elon Musk: I will say what I want even if it costs me
Twitter's owner has been criticised for spreading disinformation and conspiracy theories online.
TikTok: Montana to become first US state to ban app on personal devices
The Chinese-owned platform said the ban "infringes on the First Amendment rights of the people of Montana".
Food bank uses tech to plug donation shortfall
Soaring demand means food banks have to buy groceries - but tech is being used to target donations.
Cryptocurrency: Treat investing as gambling, MPs say
Retail investment in cryptocurrency is too risky to be regulated as a financial service, a committee says.
Tuesday, May 16, 2023
Black taxpayers more likely to be audited, IRS admits
The head of the US tax-collection agency says he is "deeply concerned" by the disparity.
Number struggling to pay bills soars by 40%, FCA finds
The UK's financial regulator says 10.9 million adults are struggling to pay debts and bills.
Bus £2 fare cap extended to end of October
The decision is the second time the government has extended the cap for bus operators in England.
US debt ceiling: Biden and Republicans hopeful of a deal
House Speaker Kevin McCarthy says the two sides are far apart but an agreement is possible this week.
How computer games encourage kids to spend cash
Many parents are frustrated with games that encourage children to spend money to advance.
Vauxhall-maker says UK needs to change its Brexit deal
Vauxhall-maker Stellantis is calling on the government to renegotiate some Brexit rules or risk losing UK operations.
Two poultry workers test positive for bird flu
The cases in England were found during screening and there is no sign of human-to-human transmission.
Vodafone to cut 11,000 jobs as new boss says firm 'not good enough'
New chief Margherita Della Valle says the mobile firm's performance "has not been good enough".
Monday, May 15, 2023
Supermarkets investigated over food and fuel prices
The competition watchdog will look at whether a failure in competition means customers are overpaying.
Microsoft's $69bn Activision deal approved by EU
The proposed $69bn acquisition of Activision is splitting global regulators over competition concerns
Center Parcs owner Brookfield puts holiday chain up for sale
The private equity owner of the resort firm wants to sell the business for up to £5bn.
Engineering giant Wood sees off takeover interest from investment firm
Apollo Management Holdings announced it will not make a formal bid for the Aberdeen-based firm.
Percy Pig ice cream renamed after 'polite' M&S request
Fabio Vincenti is now considering alternative names for his pig-based treat.
Sunday, May 14, 2023
Scrap tax on sunscreen, say cancer charities
Cancer experts want VAT removed to make sun creams more affordable in the cost-of-living crisis.
AI creator on the risks, opportunities and how it may make humans 'boring'
AI boss on the future of artificial intelligence and what will happen if computers become more clever than humans.
Saturday, May 13, 2023
Pat Cullen: Nursing union calls for double-digit pay rise to restart talks
Union boss Pat Cullen urges ministers to reopen pay talks in England after her members rejected a 5% offer.
Is the UK too late to beat the US in the global trade war?
The US is offering huge incentives to electric car firms, but the UK risks falling behind.
Friday, May 12, 2023
Train strikes: Passengers face second day of industrial action
RMT union members from 14 rail companies will walk-out on Saturday in a row over pay.
Skipton: Will deposit-free mortgages help budding first-time buyers?
Will Skipton Building Society's deposit-free deal help those hoping to buy in the lender's home town?
Holiday car hire costs soar since pandemic, says Which?
Consumer group Which? says costs at popular destinations are up with customers often stung by hidden charges.
UK saw sluggish growth at start of year
Growth was just 0.1% in the first three months of the year, as the economy was affected by strike action.
Thursday, May 11, 2023
Australia government approves first new coal mine since elected
The government came to power a year ago promising greater action on climate change.
Peloton recalls 2 million bikes over injury risk
It is the second major recall for the bike company which soared to popularity during the pandemic.
Confectionery firms try to sugar coat price rises
Makers of sweets and chocolates are aiming to shield customers from their higher costs.
Elon Musk says he has appointed new Twitter boss
The billionaire has been under pressure to name someone else to lead the company and focus on his other firms.
New York City passes law barring weight discrimination
America's largest city joins a movement to make size a protected trait on par with race and gender.
Wednesday, May 10, 2023
Disney+ streaming business loses 4m subscribers in first quarter
Most of the losses came from its Hotstar service in Asia, which has lost rights to Indian cricket matches.
Renewable energy projects worth billions stuck on hold
Major renewable energy projects being delayed by more than 10 years as grid reaches capacity.
Warning UK losing £2,300 per minute to fraud
Bank industry group UK Finance calls for tech firms to help reimburse fraud victims.
Vodafone 3G turn-off sparks internet access fears
The network is to begin a UK-wide shutdown of its 3G network in June so it can invest more in 4G and 5G.
How worried should I be about the US economy?
Bank failures, job cuts and a stalled out stock market - is the world's largest economy in trouble?
US inflation below 5% for first time in two years
Prices rose 4.9% over the 12 months to April, the latest figures show.
UK interest rates: How high could they go?
The Bank of England is expected to raise the rate from 4.25% to 4.5%, creating higher mortgage costs.
Tuesday, May 9, 2023
India’s booming population needs more women at work
More women must join the workforce for India to reap its demographic potential - but that's not easy.
The debt ceiling saga explained - in under 90 seconds
Will the US government run out of money? Here's what's at stake politically and economically.
Briton pleads guilty in US to 2020 Twitter hack
It was probably the most high-profile hack in social media history, hitting dozens of famous accounts.
Longer lorries to be allowed on Britain's roads
More goods can be carried in fewer trips, says government, but campaigners have safety concerns.
Will the US default on debt on 1 June? A really simple guide to debt ceiling
The US government could start to run out of money within weeks - how did we get to this point?
Monday, May 8, 2023
Tech layoffs: LinkedIn cuts 700 jobs and phases out China
The careers site is the latest tech company to announce major job cuts.
Apple co-founder says AI may make scams harder to spot
Silicon Valley veteran tells the BBC he thinks AI creations should be clearly labelled.
Deposit-free mortgage aimed at renters launched
The product requires a good credit history, but does not need the financial backing of family or friends.
Can a wind turbine handle hurricane speed winds?
As wind farms expand into new areas they will need to withstand extreme wind speeds.
Royal Mail boss expected to resign within weeks
Simon Thompson is said to be in talks after a bitter union dispute and after he was accused of misleading MPs.
Sunday sunshine helps Coronation pub takings
One pub chain says sales on Sunday had been "really, really strong" as hospitality firms hope for a boost.
Sunday, May 7, 2023
Children missing out as attractions get pricier, says charity
Children could miss out on important life experiences due to higher prices, says Go Beyond.
Janet Yellen: US treasury secretary warns of debt ceiling 'catastrophe'
The US treasury secretary warns Congress it must act to raise the country's borrowing limit.
Horizon scandal: Post Office boss to pay back part of bonus
Nick Read has admitted last year's accounts contained an "incorrect statement" about work done for the Horizon Inquiry.
Tata Steel warns of uncertainty over future of UK business
The steelmaker is seeking government support to help switch away from coal-fired blast furnaces.
Ex-Uber security chief sentenced over covering up hack
Joseph Sullivan was convicted over covering up a security breach of 57 million user accounts in 2016.
Shell selling stake in controversial Cambo oil field
The project - west of Shetland - is the second-largest undeveloped discovery in the UK's North Sea.
Friday, May 5, 2023
HSBC foils plan by major investor to break up bank
China's Ping An fails to get the backing to split the lender in a crunch vote over its future.
Bunting, biscuits, beer - Brits spend on Coronation
The public is on course to shell out £200m on food and drink this weekend, one retail body predicts.
US job creation robust despite banking crisis
Employers in the US added 235,000 jobs in April as the labour market held up better than expected.
Banks warn of big increase in online scams
Barclays said 77% of scams are now happening on social media, online marketplaces and dating apps.
Yorkshire's independent brewers in battle to survive 'perfect storm'
Independent brewers in Yorkshire react to news that one of their famous counterparts is in trouble.
Kanye West Yeezy loss is hurting us, admits Adidas
Ending its collaboration with Kanye West hit sales at the start of the year, says sportswear giant.
Thursday, May 4, 2023
Apple sales falter again but iPhone demand persists
The iPhone maker is facing headwinds as the economy weakens.
US bank seeks buyer as confidence crisis spreads
PacWest is the latest mid-sized bank to search for financial help as confidence in the sector falls.
British Gas to stop using contractors to force-fit prepayment meters
The change follows an outcry after agents working for British Gas broke into the homes of vulnerable people.
Covid: China tourism rebounds above pre-pandemic levels
Domestic travel in the country jumped sharply during the five-day May Day break.
Wednesday, May 3, 2023
Credit Suisse: Asia investors sue Switzerland over bank collapse
Investors are suing the Swiss government over its handling of the takeover of Credit Suisse.
UK competition watchdog to launch review into AI
The CMA will look into whether the development of new AI technology is in consumers' best interests.
Coca-Cola supplies could be hit by strike - union
Workers at Europe's biggest soft drinks factory in Wakefield are balloted over industrial action.
Dyson plans £100m research hub in Bristol city centre
The engineering giant says it will be recruiting hundreds of software and AI engineers for the site.
UK to ban cold calls offering financial products
Rules tackling scams will be extended as millions targeted by fraudsters.
Tuesday, May 2, 2023
India's Go First cancels flights after bankruptcy
The country's fourth largest carrier blames US engine maker Pratt & Whitney for its problems.
Air travel chaos looms as US keeps 5G altimeter refit deadline
A July deadline for airlines to refit planes to avoid 5G signal interference will remain in place.
Coronation: Think of millions working during celebrations - union
Coronation celebrations will depend on millions working through the weekend, say trade unions.
UK house prices in surprise rise in April, says Nationwide
Market conditions improving after prices fall for seven consecutive months, Nationwide says.
BP reports stronger than expected profits
The oil and gas giant posts profits of $5bn (£4bn) for the first three months of 2023.
Monday, May 1, 2023
Silicon Valley Bank: HSBC says UK buyout boosted profit by $1.5bn
HSBC bought Silicon Valley Bank's British business in a deal led by the government and the Bank of England.
Shein: China fashion giant faces US calls for probe over Uyghur claims
Lawmakers demand an investigation into the Chinese fashion giant's alleged links to forced labour
Australia to ban recreational vaping, crackdown on black market
Minimum quality standards will also be introduced, and the sale of vapes in retail settings prohibited.
The people turning time into a currency
So-called "time-banking" schemes are letting people get paid in time credits for the work they do.
Ron DeSantis-aligned oversight board votes to countersue Disney
This latest move is part of an escalating dispute between Disney and Florida's Republican governor.
First Republic: JP Morgan to take over major US bank
First Republic was seized by regulators, the third major US bank to fail in recent months.
Capita: Watchdog warns pension funds over data after hack
The Pensions Regulator has told hundreds of funds to check details of customers after a data leak.
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