Thursday, August 31, 2023

Ukraine war: UK defence giant BAE Systems sets up local base

The firm says the move may allow it ultimately to produce light artillery inside Ukraine.

Storm power cuts: Maximum compensation nearly triples to £2,000

The energy watchdog has hiked the amount households and businesses can receive from £700 to £2,000.

Wilko deal to buy firm and save jobs falls through

M2 Capital claimed its £90m offer would retain employees for two years but it failed to file paperwork.

India's Adani Group stung by fresh controversy

A new report has alleged that the conglomerate used "opaque" funds in Mauritius to manipulate stock prices.

Wednesday, August 30, 2023

Country Garden: Debt crisis-hit China property giant in record loss

Country Garden reported a record $6.7bn loss for the first six months of the year.

Pass AI law soon or risk falling behind, MPs warn

The commons technology committee urges new legislation for the UK to take lead on AI regulation.

How long until a robot is doing your chores?

Advances in AI are accelerating the development of humanoid robots.

Mark Thompson: CNN appoints former BBC director general as chief executive

The British executive must rebuild the US news network after a series of crises and falling ratings.

Families worry over cancelled flight expense costs

Passengers are having to fork out for food, travel and accommodation, but are worried about costs.

Brexit: EU-derived equal pay protections to be brought back

Women will keep the right to the same pay as men doing similar jobs in what Labour says is a government U-turn.

Tuesday, August 29, 2023

Netflix: Streamers expansion into gaming is 'natural extension'

Streaming hits such as the Queen's Gambit are being adapted as games as the streamer looks to expand.

Scams impersonating financial regulator double

The Financial Conduct Authority says reports of scammers impersonating it have doubled.

Network Rail axes bonuses for staff who went on strike

Network Rail has withheld bonuses from union members who took part in strike action during a pay dispute.

Ryanair says air traffic failure is not acceptable

Airline boss Michael O'Leary asks why there was no back-up system after glitch causes travel chaos.

Wilko: GMB union seeks government meeting over administrators

The GMB union said bidders had reported "difficulties" engaging with administrators PwC.

Price rises in shops at lowest for nearly a year

The retail trade body, British Retail Consortium, says price rises are slowing but remain high.

Monday, August 28, 2023

Ulez expanded to include whole of outer London

Drivers must pay a £12.50 charge per day for driving a non-compliant vehicle in the zone

Toyota halts all Japan assembly plants due to glitch

The world's largest car maker is investigating a system fault but says a cyber attack is unlikely.

Why empty lorries are a problem and how to fix it

With one third of lorries in the UK driving empty, some hauliers are turning to technology for help.

What are my rights if my flight is cancelled or delayed?

Technical glitches may cause disruption at airports but passengers do have rights.

Air traffic control: Airlines warn of flight delays over technical fault

Many Bank Holiday passengers face disruption as they travel on one of the busiest travel days of the year.

How robotaxis are dividing San Francisco

The city has become the crucible of an experiment - are robotaxis ready for the streets?

Help to buy homes from 'Bank of Family' rises

The so-called Bank of Mum and Dad has grown, with more than 300,000 home purchases set for 2023.

Sunday, August 27, 2023

Morley's: The family-run chicken shop with cult status

Founded in 1985, Morley's has featured in music videos and counts the likes of Stormzy as loyal customers.

Evergrande: Shares in the crisis-hit Chinese developer plunge by 80%

The heavily-indebted firm's shares had been suspended from trading in Hong Kong since March last year.

Labour rules out wealth tax if party wins next election

Shadow chancellor Rachel Reeves says extra money for public services must come from economic growth.

Wilko: New bid emerges for stricken retail chain

A private equity firm makes a £90m bid for the business and pledges to retain all jobs for two years.

The elusive man at the top of the OnlyFans empire

Leonid Radvinsky, a 41-year-old entrepreneur based in Florida, owns all the shares of the company.

John Lewis joins M&S and Tesco in cutting price of period pants

The price of the garments will fall by the current rate of VAT at John Lewis and Waitrose next week.

Friday, August 25, 2023

Rail services across England hit as 20,000 staff begin strike

RMT members walk out over pay and working conditions, disrupting many people's bank holiday travel plans.

Former Co-operative Bank chairman Paul Flowers charged with fraud

Paul Flowers is due to face a charge of fraud by abuse of position between June 2016 and October 2017.

US faces more interest rate rises to cool inflation

Federal Reserve chairman Jerome Powell said the pace of price increases remained "too high".

Heineken sells off Russian beer business for €1

The lager-maker will take a huge loss on the division which, it said, had taken longer to jettison.

Renters' rights violations to be investigated

The UK's competition authority said some landlords may not be following consumer protection rules.

Thursday, August 24, 2023

Donald Trump breaks silence on Musk's X after Georgia arrest

Mr Trump's first post on the platform formerly called Twitter since January 2021 includes his mugshot.

OnlyFans owner gets $338m payout

The platform says it now hosts more than three million creators, serving almost 240 million users.

Energy price cap to fall but bills will stay high

A new cap on the price of each unit of energy will be announced later by regulator Ofgem.

Train strikes to hit major events like Reading and Leeds festivals

Visitors to the Reading and Leeds festivals and Notting Hill Carnival face disruption as rail workers walk out.

Subway agrees sale to Dunkin' and Baskin-Robbins owner Roark Capital

The sandwich maker has been bought by Roark Capital, ending six decades of family ownership.

What's next for Wilko and its 12,500 workers?

The retailer is in administration but that doesn't necessarily mean it will disappear from the High Street.

Gatwick Airport: Bank holiday strike threat off after pay deal agreed

The Unite union calls off industrial action by ground handlers after securing improved pay deals.

Gas prices fall as fears over Australian strike recede

A strike at a major Australian gas plant had threatened to disrupt global supplies.

Paddington Bear stamps released by Royal Mail for 65th anniversary

The Peruvian bear was first seen in 1958 after featuring in the book A Bear Called Paddington.

Wednesday, August 23, 2023

Nvidia: artificial intelligence chip giant sees sales more than double

The California-based company dominates the market for chips used in artificial intelligence systems.

Rising numbers seek help for energy bill debts, warns Citizens Advice

Citizens Advice says it has seen a 17% rise the number of people asking for help with gas and electricity bills.

NatWest: Former boss to get £2.4m pay package after Farage row

It comes a month after Dame Alison Rose quit the bank over the closure of former Ukip leader Nigel Farage's account.

Bank fined £5.4m after energy traders used WhatsApp

Morgan Stanley is punished by the energy regulator in the first fine under transparency rules.

Tuesday, August 22, 2023

Parcel delivery giant UPS avoids first strike in 25 years

The union representing its workers said a new five-year contract has been approved.

FTX founder Bankman-Fried living on bread and water, lawyer says

A vegan diet requested by the FTX founder while he is in prison is not being provided, a judge was told.

UK-India trade talks enter 'final, trickier' stage - government sources

A deal could be struck within months - but sources say difficult areas of negotiation remain.

French airport to be renamed after Queen Elizabeth II in tribute

Le Touquet says it has blessing from King to rename its airport after his late mother.

Grant Shapps visits Kyiv as UK backs Ukraine nuclear power

The government says a loan guarantee will help improve Ukraine's energy security.

Boots infant formula adverts broke rules - watchdog

Advertising watchdog found Boots promoted infant milk formula in adverts, which is prohibited.

Wilko shoppers warned to avoid fake websites

Several websites are purporting to offer heavily discounted goods, the firm's administrators warn.

Stonehaven crash: Network Rail to face fatal derailment charges

Three people died when a train hit a landslide after heavy rain near Stonehaven in 2020.

Public borrowing below forecasts despite July rise

Government borrowing rose to £4.3bn last month, but was lower than expectations.

Monday, August 21, 2023

Former Bank of England boss to head Bloomberg board

The company's product head Vlad Kliatchko was also named as chief executive in the shakeup.

Lost luggage showing signs of recovery after hitting 10-year high

New airline data indicates the number of lost, delayed or damaged bags is returning to pre-pandemic levels.

Virtual reality brings new vision to workplace training

Staff are being asked to put on VR goggles when they go on a course or team-building session.

Domino's Pizza signals closure of Russian business

The franchise owner says it will place its Russian business into bankruptcy.

Renting now cheaper than first-time mortgages, says Zoopla

It is less expensive to rent than buy for the first time since 2010, but there are wide regional variations.

Gas prices rise on fears of strikes in Australia

Benchmark gas prices for the EU and UK rose around 10% on Monday, according to Bloomberg.

Car breakdowns due to potholes soar in rainy July

The AA saw call-outs jump with drivers reporting damage after wet weather hampered road repairs.

Morrisons' bras and pants carry NHS cancer check label

Underwear labels urge people to contact their GP if they spot symptoms of breast or testicular cancer.

Sunday, August 20, 2023

Pioneering wind-powered cargo ship sets sail

Inventors hope maiden voyage will help usher in new era of greener shipping.

China cuts key interest rate as recovery falters

The country's post-Covid recovery has been hit by a property crisis, falling exports and weak consumer spending.

Maiden Pharmaceuticals: Fury in The Gambia a year after cough syrup deaths

Grieving parents say regulators in both India and The Gambia failed their young children.

Holiday firms urge PM to allow watchdog to fine airlines

Travel companies would like to see extra powers given to the Civil Aviation Authority later this year.

Waitrose offers police free coffees to deter thieves

Waitrose and John Lewis are offering free hot drinks under the "Thanks a Latte" initiative.

Saturday, August 19, 2023

Have airlines gone too far with their extra fees?

Airlines increasingly charge for perks like speedy booking and seat selection, but some passengers say the costs are too high

Crazy Rich Agents: ‘I sell houses to billionaires but live with mum and dad’

Young luxury estate agents face pressure to succeed in BBC's Crazy Rich Agents.

Friday, August 18, 2023

Twitter, now X, to remove blocking feature

Elon Musk says the feature "makes no sense", but users are concerned about protection from abuse.

Wonka: Sweet shop owner fined £10k for selling fake chocolate bars

Alan Price was told he was selling chocolate that posed an "imminent safety risk".

Blind man says Easyjet staff 'refused to help' him buy flights

Martin Conway says airline staff told him he must use an app to buy a flight but did not offer any help.

Aslef train drivers announce new strike date

Drivers will walk out on 1 September and refuse to work overtime on 2 September, the union says.

Wilko staff have grounds for hope, says GMB union as bidders circle

The GMB says there has been interest in firms buying "at least parts" of the homeware retailer.

Energy bills predicted to drop in autumn

Ofgem is poised to announce a small cut in its price cap next week, according to an energy consultancy firm.

Shop sales drop in July as rain dampens demand

Retail sales fell by 1.2% following the poor weather with clothing sales proving a washout.

Thursday, August 17, 2023

Evergrande: China property giant files for bankruptcy in US

The move comes as fears grow over problems in the world's second largest economy.

Buckingham Group construction company on brink of collapse

Buckingham Group, which has worked on HS2 and at Anfield, blames "extreme inflation" for losses.

Fine threat if banks fail to provide access to cash

The Treasury sets a minimum distance of three miles, or one mile in urban areas, for free cash withdrawal services.

DJ Khaled and Snipes: Why fashion brands are putting celebrities in charge

Celebrities are winning jobs at the top of luxury fashion firms - but what can they really contribute?

I had to let almost all my staff go - bakery owner

Lac Hincu says despite the popularity of her business in Rugby, she had to downsize to survive.

Wednesday, August 16, 2023

After McDonald's, Burger King India drops tomatoes from its menu

Prices of essentials like tomatoes have skyrocketed in India in recent months.

Singapore seizes $735m of assets in anti-money laundering probe

The raids are part of one of the city-state's biggest ever anti-money laundering investigations.

Jaguar Land Rover to create 300 new jobs in West Midlands

The roles will be used to support the increased production of Range Rovers and new electric vehicles.

Admiral car insurance loses thousands of customers

The car insurer has lost many customers on the back of steep price rises and a jump in vehicle repair costs.

London buyers still pushing up Cotswold house prices

One district council leader says a new programme of low-cost house building is needed.

Tuesday, August 15, 2023

Bank of Ireland warning over cash machine glitch reports

The glitch reportedly allows people to withdraw large sums regardless of what is in their account.

How Argentina learned to love the US dollar

Stuffing your greenbacks into the "mattress bank" is a way of life for many Argentines.

Firm regrets taking Facebook moderation work

The chief executive of Sama says it will no longer take work involving moderating harmful content.

Booking.com owes hosts in Scotland thousands in room payments

Scottish hosts say they have not been paid by the website for months and are considering legal action.

UK wages grow at record rate

Regular pay grew at an annual rate of 7.8% between April and June, according to new data.

Price of milk and sunflower oil starting to fall

The costs of some food staples are starting to come down after surging last year, data suggests.

Monday, August 14, 2023

Japan economy grows much faster than expected

The weakness of the yen has helped Japanese exporters as it makes their products cheaper overseas.

Petrol prices: Why are they going back up?

Motoring organisations warn price rises will pile pressure on families and small businesses.

Ethnic minority workers in insecure jobs up 132% since 2011

New data shows the number of white people working in insecure jobs rose by a much smaller amount.

Wilko: Bidders given Wednesday deadline for rescue offers

The cash-strapped homewares chain has collapsed into administration and put 12,500 jobs at risk.

Train strikes: When is the next action happening?

Members of the RMT rail workers union are set to strike again in August.

Pay: Firms fight back with counteroffers to keep staff

A survey finds companies are willing to match or better new job offers but risk fuelling inflation.

Frome declares housing crisis as rents soar out of reach

People in a popular Somerset town are trying to draw attention to a shortage of affordable housing.

Sunday, August 13, 2023

L’Occitane shares jump as controlling shareholder mulls buyout

The company has said its controlling shareholder is contemplating a potential deal to take it private.

Zuckerberg says Musk 'not serious' about cage fight

Doubt hangs over the billionaires' fight plans, but Musk suggests he is open to a bout on Monday.

Pub takeaway drinks rules to be continued

Landlords in England and Wales will be able to continue selling takeaway drinks through hatches under Covid-era rules.

Fake meat: As Beyond Meat sales fall, have we had our fill?

Fast food supplier Beyond Meat has seen its sales fall - but is it cost, taste or nutrition that is putting people off?

Saturday, August 12, 2023

Amazon releases some seller funds after complaints

Amazon withheld some seller takings temporarily but is releasing them after some businesses came close to collapse.

Friday, August 11, 2023

Amazon asked by minister to justify temporarily withholding sellers' funds

The government told Amazon UK to explain how it intends to help sellers whose money it is withholding.

UK economy grows after rebound from the King's Coronation

Warm weather boosted growth and lifted the construction sector as well as pubs and restaurants.

Air India: Tata Group unveils new logo for former national carrier

India's former national carrier is undergoing a multi-million dollar transformation under Tata Group.

Thursday, August 10, 2023

On board Virgin Galactic's tourist journey to space

A look inside the company's first space tourism flight, which took off from New Mexico on Thursday

China property giant Country Garden warns of up to $7.6bn loss

It is the latest signal of the major issues faced by the world's second largest economy.

Theresa Villiers: Ex-environment secretary failed to declare Shell shares

Theresa Villiers apologises for failing to declare a stake in the oil firm worth over £70,000 for five years.

Is AI a threat to the world of fabric design?

You can now ask an artificial intelligence system to design you a fabric pattern and get it printed.

Yandex founder slams Russia's 'barbaric' war in Ukraine

Arkady Volozh, the ex-boss of Russia's tech giant, has previously faced criticism for not speaking out.

Wednesday, August 9, 2023

Period pants should not be subject to 20% VAT, say firms

Marks & Spencer and period pants brand WUKA are asking the government to remove the 20% tax on period pants.

Where people have to choose between food or home insurance

Extreme weather and climate change are driving up home insurance costs, forcing some into desperation.

Minister defends safety law on messaging apps

Tech Secretary insists technology is in development to access illegal content without breaking encryption.

Disney to expand ads on streaming as business flags

Disney is hurting in its home market, where streaming subscriptions slipped and park attendance flagged.

US to bar and screen some tech investments in China

The move gives the government new oversight over foreign dealings by private firms.

Deflation: Why falling prices in China raise concerns

The world's second largest economy has slipped into deflation for the first time in more than two years.

Tuesday, August 8, 2023

UPS driver pay and benefits deal in US to be worth $170,000 a year, firm says

The shipping giant warns of lower profits after it agreed a deal to avert a US drivers' strike.

Italian banks hit with surprise windfall tax

The potential one-off tax on the profits banks earn from higher interest rates has seen shares plummet.

Lithium firm secures initial £53m from investors

The government says the funding will support "the UK’s critical minerals supply chain".

Premium Bonds: Chances rise of winning leading prizes

National Savings and Investments is the latest provider to make savings deals more attractive.

China exports in worst drop since start of pandemic

Global demand for Chinese goods falls as the cost of living and rising interest rates bite.

Monday, August 7, 2023

Cost of living: Beyond Meat hit as shoppers shift to cheaper animal protein

The firm's sales fell 30.5% as the rising cost of living pushed shoppers to buy cheaper animal protein.

Higher food prices may be here to stay, says Bank economist

Chief economist Huw Pill has warned that food prices may never return to levels previously seen.

Zoom orders workers back to the office

The company says staff living near offices should work in person at least twice a week.

House prices fall by the most in south east, says Halifax

The value of a home in the region dropped by £15,500 while the "pandemic boom" ended for Wales.

Sunday, August 6, 2023

HSBC executive sorry for saying UK 'weak' over China

Sir Sherard Cowper-Coles' comments come as US-China ties have become increasingly tense in recent years.

Devastating wildfires spur new detection systems

Firms are using AI, drones and satellite tech to help detect and suppress wildfires.

Starbucks Vietnam: Why the US chain cannot crack a coffee-loving nation

The verdict is clear: Vietnamese people love coffee, but they don’t really seem to like Starbucks.

Fines hiked for firms employing illegal migrants

Companies who repeatedly employ illegal migrants face fines up to £60,000 per breach under new rules.

Barbie film hits $1bn mark at global box office

The pink-hued film has drawn in $1.03bn around the world, according to distributor Warner Bros.

Virgin Atlantic pilots consider strike over fatigue

Members of the Balpa union have "serious concerns" over schedules put in place during Covid.

Clintons set to close around a fifth of its shops

The greeting cards firm is reportedly facing financial difficulties and its third rescue since 2012.

Elon Musk says X will fund legal bills if users treated unfairly by bosses

Elon Musk says X will support those treated "unfairly" by bosses due to behaviour on Twitter - now X.

Saturday, August 5, 2023

Inflation: Should we trust the Bank of England's forecasts?

The Bank of England says inflation could fall to around 5% by Christmas - how reliable is that?

Friday, August 4, 2023

Travel disruption set to worsen with climate change, warns government adviser

The UK must invest in rail and road networks or accept more extreme weather disruption, a government advisor says.

Jeremy Hunt asks regulator to examine extent of debanking

Chancellor asks watchdog to speed up probe into whether bank accounts are being closed for political views.

Ulez scrappage scheme extended to all Londoners

The move comes after the Labour Party's by-election loss in Uxbridge last month.

Thursday, August 3, 2023

China drops Australia barley tariffs after three years

The relationship between Canberra and Beijing has thawed since the election of Prime Minister Anthony Albanese.

Japan issues rare warning over fake X account

The account on the platform formerly known as Twitter impersonated Japan's top currency diplomat.

Hyundai fire risk warning as 91,000 vehicles recalled

The recall is the latest in a series of fire-related recalls of Hyundai and Kia models in recent years.

Amazon online sales improve despite economy fears

The firm said more efficient deliveries helped boost sales and profits in the three months to June.

Interest rates: What you can do about rising mortgage payments

Watch the BBC's Lora Jones tell you five things you can do about your mortgage, in a minute.

Help renters benefit from energy-saving grants, campaigners say

Tenants have less incentive to apply for help as they could be evicted at any time, campaigners say.

Wednesday, August 2, 2023

Tech shares fall as China mulls child smartphone limits

Shares of firms such as Alibaba and video-sharing website Bilibili extended their losses in Asia on Thursday.

Worldcoin suspended in Kenya as thousands queue for free money

The authorities say they have data privacy concerns over Sam Altman's new cryptocurrency project.

Tom Kerridge: Hospitality strain like 'walking uphill, on glass, barefoot'

A wave of costs adds to the relentless pressure on the industry, says the celebrity chef.

Janet Yellen: Credit downgrade 'puzzling' and 'unwarranted'

Janet Yellen defends the US, as stock markets fall after credit downgrade.

Ministers to speed up delivery of new power lines for clean energy

Grant Shapps is set to unveil plans to build more pylons and power lines for clean energy.

Petrol price rises prompt fears of higher costs

The latest rise in prices at the pumps is due to the cost of oil, a key ingredient in fuel, increasing.

Home buyers extend mortgages in affordability struggle

More Taylor Wimpey customers are taking 36 year mortgages to make monthly repayments more affordable, providers say.

Tuesday, August 1, 2023

Missed bill payments back to winter levels, says Which?

Consumer group Which? says levels of missed payments are higher than in January.

X Corp sues anti-hate campaigners over Twitter research

The firm behind X, as Twitter is now known, is suing the Center for Countering Digital Hate

CEO Secrets: 'We hand-ice millions of biscuits'

Biscuiteers co-founder Harriet Hastings shares her business advice for our CEO Secrets series.

Uber aims to be wider travel app as it turns first profit

The company has expanded its UK app to include planes, as it reports its first-ever operating profit.