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.

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The trucks ditching diesel and drivers

From addressing the climate emergency to the shortage of HGV drivers, is this the future?

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Cost of living: Row over who should police energy prepayment switches

A trade body for energy firms says the regulator should ensure rules are followed, but Ofgem hits back.

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Paperchase: Stationery chain falls into administration

The struggling High Street stationery retailer has failed to find a buyer, putting 820 jobs at risk.

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More than 2,000 roles at risk at Tesco

The roles are at risk at Tesco as it announces more changes to the way it runs its supermarkets.

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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.

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Green projects are boosting UK growth - CBI report

Projects aimed at lowering carbon emissions are boosting growth in poorer parts of the country.

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The new tech offering relief from the misery of period pain

Two start-up firms are making wearable technology that targets menstrual discomfort.

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Flybe collapse: Shock for staff after new lease of life, says Robinson

Flybe's collapse has caused concern for workers, but offers from other airlines bring hope, says Gavin Robinson.

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Video streaming subscriptions fall by two million in 2022

Households cut back on streaming services in their droves as the cost of living rose sharply.

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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.

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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.

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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.

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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.

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'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.

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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.

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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.

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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.

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Job risk as Shell considers quitting energy market

The Coventry-based firm said tough market conditions had forced a review of the business.

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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.

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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.

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Warning over risky electric blankets sold online

The consumer rights group Which? found products being sold online that could cause electric shocks.

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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.

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Adani Group: Asia's richest man hits back at 'con' allegations

Indian billionaire Gautam Adani hits back after fraud claims wipe billions off his company.

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Turning problem sea algae into a replacement for plastic

Seaweed and microalgae is increasingly being turned into useful products.

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Fears shoppers misled over green goods sparks investigation

The competition watchdog is concerned shoppers are paying a "premium" for goods claiming to be green.

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UK car production collapses to lowest for 66 years

Car production in the UK continued to fall last year, lagging further behind the US and EU.

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Could UK be drawn into a green trade war with US?

The future of the planet and the global economy are entwined in a potentially risky geopolitical game.

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Cost of living: Cash bonuses behind record number of bank switches

Up to £200 was offered by some banks to switching customers - prompting the most moves since 2013.

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Donald Trump to be allowed back onto Facebook and Instagram

The social media firm Meta said the former US president's suspension will end "in the coming weeks".

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Tesla posts record profit despite price cuts

Elon Musk's electric car company is facing questions as the economy weakens and borrowing costs rise.

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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.

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Microsoft Outlook and Teams down for thousands around world

Data from outage tracking website Downdetector showed more than 5,000 reports in the UK alone.

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Justin Bieber sells rights to songs for $200m

The pop star joins a growing group of artists who have cashed out on their catalogues.

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Microsoft sees slowest sales growth in six years

The update follows the firm's move to eliminate about 10,000 jobs.

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US accuses Google of 'driving out' ad rivals

A federal lawsuit alleges the tech giant's anti-competitive actions mean more websites need paywalls.

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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.

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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.

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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.

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Twitter sued by Crown Estate over alleged unpaid rent at UK HQ

The alleged rent arrears relate to office space at Twitter's UK headquarters in central London.

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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".

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Microsoft extends AI partnership with ChatGPT and Dall-E maker OpenAI

It announces a "multi-year, multibillion dollar investment" with OpenAI to accelerate breakthroughs.

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Cold snap triggers freezing weather payment

Some people on benefits will receive £25 within the next two weeks after temperatures drop.

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Food suppliers hit back at Tesco in price hike row

Industry body the Food & Drink Federation said supermarkets are already 'very tough' on suppliers.

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Fullers blames rail strikes for pub profit warning

The pubs and hotels operator says industrial action has wiped £5m off its full-year sales.

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Covid: Thailand tourism up but still below pre-pandemic level

The holiday destination is set to start charging overseas visitors $9.20 each from the start of June.

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Technology can help the NHS, says AstraZeneca boss

AstraZeneca's Leif Johansson says AI and screening could prevent costly treatment in hospitals.

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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.

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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.

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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.

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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.

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Crackdown on energy firms over rise in prepayment meters

Many customers have been left without heat and light when not able to afford topping up their prepayment meters.

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UK steel industry a whisker away from collapse - Unite

Unite has written a letter to the Business Secretary Grant Shapps seeking more government support.

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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.

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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.

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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.

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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.

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Lloyds and Halifax to close 40 more bank branches

As more people bank online, footfall in physical branches has dropped, says Lloyds Banking Group.

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UK poised to give £300m in rescue funding to British Steel

The government is poised to help the struggling steelmaker secure thousands of jobs.

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Netflix: Reed Hastings steps down but subscribers jump

The streaming service is attracting new customers as co-founder Reed Hastings hands over the reins.

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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.

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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.

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Rail workers given fresh pay offer in dispute

Train companies have increased their offer to RMT rail workers in an attempt to prevent more strikes.

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Argos to close all stores in Republic of Ireland in June

The 34 stores the company operates will close after the investment needed was not viable.

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Cost of living: Calls grow for a ban on prepayment meter switching

Citizens Advice says it has seen a sharp increase in people needing crisis support, such as emergency grants.

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Hotel Chocolat among Christmas retail winners but Dr Martens struggles

The confectioner is latest retailer to see strong festive sales, but shoemaker Dr Martens struggles.

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Train strikes: Cheaper to settle, minister admits

It would have cost the UK less if the disputes had been settled months ago, admits rail minister.

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Microsoft to cut 10,000 jobs as spending slows

Chief executive Satya Nadella says cuts will cost $1.2bn as tech firms scale back from Covid growth.

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Cost of living: Rents and house prices continue to rise

Private rental prices continue a trend of rises higher than anytime in the last seven years.

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Air travel costs soar at record rate in December

The price of a plane journey hit rose at the fastest pace since 1989 while coach travel jumped.

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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.

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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”.

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Elon Musk begins trial over Tesla tweet that cost him $20m

Shareholders are suing the Tesla CEO over a 2018 tweet saying he had the funds to take the firm private.

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Ukraine's deputy PM confident 'we will win this year'

Yuliia Svyrydenko says she is confident Ukraine will see victory this year in its war with Russia.

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Ocado says shoppers buying fewer items as costs rise

The online grocery delivery service says shoppers are buying less as the cost of living soars.

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Britishvolt expected to fall into administration

Sources have told the BBC to expect a notice to be filed in insolvency courts this morning.

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Covid: China 2022 economic growth hit by coronavirus restrictions

The world's second largest economy abruptly lifted its tough coronavirus restrictions in December.

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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.

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Bank of England governor warns of Truss hangover effect

The UK still needs to rebuild its economic reputation around the world, says Andrew Bailey.

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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.

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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.

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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.

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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.

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Winklevoss firm charged in US over crypto sales

Its partner company is also accused of illegal sales to hundreds of thousands of investors.

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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.

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Byron Burger chain owner shuts sites and axes jobs

The company will close nearly half of its restaurants and cut 218 staff in a further restructure.

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Adidas loses stripes row trademark battle with luxury designer Thom Browne

The sportswear giant argued the use of four parallel stripes was too similar to its logo.

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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.

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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.

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Royal Mail hit by Russia-linked ransomware attack

The group is working "around the clock" to resolve severe disruption to overseas deliveries.

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Disney accused of squeezing theme park customers

Investor Nelson Peltz says price rises at Disney's theme parks are unsustainable.

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Liberty Steel restructuring puts 440 jobs at risk

Union leaders say plans to mothball factories and cut production is a 'body blow' to workers.

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CPI: US inflation eases as energy prices drop

Consumer prices in the US rose 6.5% in December, the slowest pace in more than a year.

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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".

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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.

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World's richest man promotes daughter to head Dior

Bernard Arnault made his fortunes as chief executive of French fashion giant, LVMH.

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100,000 civil servants to strike on 1 February

People working in 124 government departments and several other bodies will walk out on 1 February.

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Royal Mail 'cyber incident' hits overseas post

It is telling customers to stop sending items overseas while it tries to resolve the issue.

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Elon Musk's drop in fortunes could break record

The Tesla and Twitter boss has seen his fortune fall by $165bn (£135bn) since November 2021.

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Goldman Sachs starts massive round of job cuts

As many as 3,200 people will be affected by the cuts, the investment bank says.

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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.

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Grant Shapps unveils new powers in strike laws

Unions say the plans for minimum service levels are "undemocratic and unworkable".

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Strikes Update: How Wednesday 11 January’s walkouts will affect you

What you need to know about the ambulance workers' strike and other industrial action, by the BBC's Zoe Conway.

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Wilko customer service staff at risk of redundancy

The 95 staff members at its contact centre are in a consultation process, the company says.

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Britishvolt: Takeover talks with Indonesia-linked investment group

The plans for an electric vehicle battery factory in Northumberland have been beset by delays.

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Will the metaverse be your new workplace?

Some predict that in the future we'll work in virtual worlds, but others are not convinced.

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Energy bill support for firms to be reduced from April

The government says the current level of support for firms was "unsustainably expensive".

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McDonald's: Former boss Easterbrook fined after staff relationship

Stephen Easterbrook was fired in 2019 after the firm found he had had a consensual relationship with an employee.

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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.

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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.

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Rents rising at fastest rate for seven years

Renters are being hit harder than owners by rising housing costs, official data shows.

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Union talks aimed at ending strike action

Officials are expected to hold separate talks on Monday with health, teaching and rail unions.

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US Farmers win right to repair John Deere equipment

The grassroots movement has grown among consumers around the world as repair costs soar.

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Fashion brands paid Bangladesh factories less than cost - report

High street retailers paid suppliers in Bangladesh less than production costs, researchers claim.

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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.

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Strike daily: How Monday 9 January strikes will affect you

What you need to know about industrial action taking place on Monday.

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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.

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The pandemic entrepreneurs moving into the High Street

Entrepreneurs who started internet firms in lockdown are making the transition to bricks and mortar.

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Flying boats and other tech for cleaner shipping

The shipping industry is experimenting with foils, sails and fuel to make itself less carbon intensive.

from BBC News - Business https://ift.tt/AdYyNrk

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.

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US economy sees robust jobs growth in December

Hiring in the US remains strong, despite the impact of sharply rising prices.

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BA unveils jumpsuits in first uniform revamp for 20 years

The airline has updated its workwear for the first time in 20 years with designs by Ozwald Boateng.

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Wind generated a record amount of electricity in 2022

More electricity in Great Britain last year came from renewable sources than from fossil fuels.

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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.

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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.

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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.

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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.

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Iron Maiden release limited edition postal stamps with Royal Mail

English heavy metal band Iron Maiden have been honoured with a set of twelve commemorative stamps.

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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.

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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.

from BBC News - Business https://ift.tt/9nTyLmu

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.

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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.

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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.

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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.

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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.

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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.

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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.

from BBC News - Business https://ift.tt/7rGoTvq

Microsoft recognises first labour union in US

Quality assurance workers at the video production company ZeniMax studios agreed to form a labour union.

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Sam Bankman-Fried pleads not guilty to fraud

'King of Crypto' Sam Bankman-Fried could face more than 100 years in prison if convicted.

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Strike daily: How Wednesday 4 January’s walkouts will affect you

What you need to know about the rail strike and other strike action this week, by the BBC's Zoe Conway.

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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.

from BBC News - Business https://ift.tt/pWwokaB

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.

from BBC News - Business https://ift.tt/IjQFpos

Cost-of-living payments: Three instalments totalling £900 confirmed

People receiving benefits and on a low income will receive the money in three instalments.

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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.

from BBC News - Business https://ift.tt/4OQFHSR

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.

from BBC News - Business https://ift.tt/IoGEf2e

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.

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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.

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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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