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Sunday, April 30, 2023

UK chip giant Arm files for blockbuster US share listing

In a blow to the London stock market, the firm said in March that it would not list shares in the UK.

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The Israeli plan to fit a fusion reactor into a container

Israel's NT-Tao wants to build a compact fusion reactor and has won investment from Honda.

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Where property prices are set by what local people earn

A housing project in south London is selling flats with prices set according to local income levels.

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Adidas sued by investors over Kanye West deal

Shareholders claim the sportswear giant knew about the rapper's behaviour before it cut ties in 2022.

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First Republic makes last ditch bid to find rescue deal

Regulators are racing to find a buyer for First Republic after the recent collapse of two US banks.

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Rail strikes cynically targeting Eurovision, transport minister says

Transport Secretary Mark Harper says a "fair and reasonable pay offer" has been made to rail workers.

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Saturday, April 29, 2023

How taking it slow could help protect our money

A culture of instant buying, paying, and delivery brings convenience but could expose our finances to harm.

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Friday, April 28, 2023

Households in debt time-bomb, says Citizens Advice

The charity says those struggling with negative budgets can face a "wild west" when seeking debt advice.

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Eurovision 2023: What fans affected by train strikes travelling to Liverpool can do

Two train strikes are now scheduled which may cause disruption for those travelling to Liverpool.

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Oil company ExxonMobil reports record profits of $11.4bn

The energy giant says the profits came despite paying about $200m (£160m) in windfall taxes in Europe.

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Thursday, April 27, 2023

Rail strike on 13 May, day of Eurovision final

The rail union rejects train firm proposals and will launch strike action on 13 May.

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Is the UK a bad place for tech firms?

Microsoft's president said a UK watchdog's move to block its Activision deal was "bad for Britain."

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Sainsbury's and Unilever deny price rises benefits them

The firms have rejected suggestions that they are not protecting customers from inflation.

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US economic growth slows as firms cut investment

The economy grew 1.1% on an annual basis in the first three months of the year.

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Facebook owner Meta’s profits exceed expectations

It said AI was "driving good results" across its business - which has slashed jobs worldwide.

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Train drivers to strike again on FA Cup final day

Union Aslef announces three fresh strike days after bosses rejected a 4% pay offer from train firms.

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Wednesday, April 26, 2023

US denies trying to unfairly attract overseas firms

Deputy treasury secretary tells the BBC the US wants other countries to invest in clean energy as well.

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Pernod Ricard resumes Beefeater and Jameson exports to Russia

French drinks giant says the move is to keep its Russia operations viable but campaigners are 'disgusted'.

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Disney sues Florida governor Ron DeSantis

In a lawsuit filed on Wednesday, Disney alleges it has been the target of "government retaliation".

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First Republic: Future of US bank in doubt as investors flee

Shares in First Republic fall more than 20% after plunging to a record low a day earlier.

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Microsoft's Activision takeover blocked in UK

The ruling puts the $69bn deal for the maker of Call of Duty and Candy Crush in jeopardy.

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Bank chief's comments on pay rises 'out of touch'

Unions and small businesses react with outrage to comments that people need to accept they are poorer.

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Tuesday, April 25, 2023

Jes Staley says JPMorgan wants "shield" in Epstein case

JPMorgan has blamed Mr Staley for its relationship with sex offender Jeffrey Epstein.

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New rules ban subscription traps and fake reviews

The government's Digital Markets Bill aims to help consumers and increase competition.

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KitKat maker Nestle hikes prices but sales still sweet

Nestle says it has raised the prices by nearly 10% over the past year due to "significant" cost inflation.

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Ocado warehouse closure puts 2,300 jobs at risk

Its Hatfield fulfilment centre will stop trading as the online grocer relies on more efficient sites.

from BBC News - Business https://www.bbc.co.uk/news/business-65383122?at_medium=RSS&at_campaign=KARANGA

Energy bill help drives up March borrowing

The government borrowed £21.5bn last month, the second-highest March figure since records began in 1993.

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Monday, April 24, 2023

Netflix to invest $2.5bn in new South Korea films and TV shows

The firm's co-CEO said the money will be spent on making TV shows and movies in the Asian country.

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First Republic Bank: More than $100bn of withdrawals this year

The US-based bank said its deposits fell by over 40% amid fears of a crisis in the financial sector.

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Disney cuts more jobs as restructuring continues

The firm announces another round of layoffs as part of the plan to reduce its workforce by about 7,000.

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Italian chain Prezzo to close 46 restaurants

The move, which puts 810 jobs at risk, comes after the chain was hit by soaring costs.

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Millions of families miss out on cheap broadband

Ofcom is concerned that people are not getting the broadband social tariffs they are entitled to.

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Sunday, April 23, 2023

£55bn withdrawn from Credit Suisse before collapse

The announcement gives an insight to the scale of the bank run that caused the 167-year-old institution to fail.

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Bed Bath & Beyond files for bankruptcy in the US

The embattled retail giant is seeking buyers for its assets, and will close all its stores by 30 June.

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NBCUniversal boss Jeff Shell out after 'inappropriate relationship'

Jeff Shell has left the US media giant over an "inappropriate relationship" he had with a colleague.

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The wedding tech now at the heart of couples' nuptials

A growing number of brides and grooms are embracing technology for their big day.

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The tech entrepreneur betting he can get younger

Millions of dollars are being poured into research to find ways of making lives longer and healthier.

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CBI rape allegations 'shocking' says Labour shadow minister

The lobbying group needs 'root and branch' reform, says Labour's Jonathan Ashworth.

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Saturday, April 22, 2023

Has TransPennine Express improved its train service?

After a period of disruption, we examine how the company is performing ahead of a decision on its future.

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Friday, April 21, 2023

CBI suspends key activities after rape and sex assault allegations

The business group is suspending policy and membership activity until June after a number of firms quit.

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Royal Mail pay offer accepted by Communication Workers Union

The CWU will recommend its members accept a deal to end the long-running dispute, Royal Mail's owner says.

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TransPennine Express worst for train cancellations

The troubled rail operator cancelled around one in six of its trains last month, the regulator says.

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Thursday, April 20, 2023

Shanghai Auto Show: Mini responds to Chinese ice cream racism uproar

It comes after a video appeared to show staff giving ice cream to foreigners and refusing local visitors.

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Lachlan Murdoch drops lawsuit against news site Crikey

Crikey linked the Murdoch family name to the US Capitol attack in an opinion piece last year.

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Ukrainian vodka producers toast a rise in global sales

With Russian vodkas no longer on shelves around the world, Ukrainian brands have filled the gap.

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Buzzfeed News to close as media firm cuts jobs

Buzzfeed is reducing its workforce by 15% and shutting its news site.

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What counts as workplace bullying?

Unfortunately bullying in the workplace is quite common, so what can you do about it?

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Compensation plan for Neil Woodford investors revealed

Savers in the collapsed Neil Woodford fund could receive 77% of their investment back.

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Wednesday, April 19, 2023

Child Trust Funds: Millions of pounds stuck in 80,000 accounts - report

Families are facing court battles to get their children's money, in pots worth up to £210m in total.

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Bank says no real risk in ringing for financial help

The boss of Santander says telling a bank you're struggling may not harm your credit rating.

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Jaguar Land Rover's £15bn electric car investment

Jaguar Land Rover's Halewood site will be the car giant's first plant devoted to electric vehicles.

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Lidl wins logo lawsuit against Tesco

The High Court finds Tesco copied Lidl's logo for its Clubcard customer discount scheme.

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Overdraft changes saved borrowers £1bn, says watchdog

Simpler overdraft rates have helped borrowers but some still miss out on support, the FCA says.

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Thousands of flights delayed as Southwest glitch grounds planes

The embattled airline cited a "technical issue" as the case for the one-hour nationwide stoppage.

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Tuesday, April 18, 2023

Can Fox News afford the $787.5m Dominion settlement?

The network still faces a second, similar defamation lawsuit from another election technology firm.

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What counts as sexual harassment at work?

The BBC speaks to experts about sexual harassment and what to do if you experience it in the workplace.

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Netflix ends DVD rentals in end of era

The streaming giant will stop shipping DVDs starting in September.

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10 tips for starting a business from junior entrepreneurs

Money Box meets three young entrepreneurs to find out what makes them tick.

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Call for onshore wind farm planning rules to be changed

Onshore wind power decisions should be removed from local authorities in England and Wales, a report says.

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Monday, April 17, 2023

Hikvision: Chinese surveillance tech giant denies leaked Pentagon spy claim

A leaked US government document alleged that Hikvision was likely enabling Chinese espionage.

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Covid: China economy rebounds after pandemic measures lifted

Gross domestic product for the first three months of 2023 grew by 4.5% compared to a year earlier.

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How artificial intelligence is matching drugs to patients

Health-tech firms around the world are increasingly using AI to help tailor drugs for patients.

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DeSantis floats idea of state prison near Disney park

The Florida governor made the threat, a bit tongue-in-cheek, while vowing to assert state control over Disney.

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EY cuts 3,000 jobs in US blaming 'overcapacity'

The decision comes days after the firm called off a radical restructuring.

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Forced prepay meter installations to be banned in homes of over-85s

Energy suppliers will also have to give struggling customers more chances to clear their debts.

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Retiring landlords risk fuelling rental shortage

Investors with buy-to-let mortgages are retiring but new landlords are not replacing them.

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Sunday, April 16, 2023

Angry Birds: Sega in talks to buy video game maker Rovio

The Japan-based entertainment giant Sega is in discussions over a deal for Rovio reportedly worth $1bn.

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Greener flights will cost more, says industry

Demand for air travel will be hit as decarbonisation drives up ticket prices, says industry.

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Scrap all existing smart motorways, says AA

It comes after government cancels plans to build more stretches of road without permanent hard shoulders.

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Amazon strike: Hundreds of workers in Coventry walk out in pay dispute

GMB members walked out at 06:30 BST on Sunday and will strike until Tuesday, the union says.

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Saturday, April 15, 2023

US savers get savvy ditching and switching banks

A wave of transfers is hitting US banks, adding another wrinkle to challenges facing the financial system.

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Royal Mail and Communication Workers Union reach agreement on pay

A provisional agreement over pay and working conditions for postal service workers has been reached.

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Friday, April 14, 2023

Britain's economy is back, says chancellor

Jeremy Hunt says his strategy has been welcomed by the IMF after his predecessor faced criticism.

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Japan approves plan to open its first casino

Officials have allowed a gambling resort to open in Osaka in 2029 to attract tourists.

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Ford launches hands-free driving on UK motorways

Government approves Ford's BlueCruise system to allow hands-off, eyes-on driving.

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Thursday, April 13, 2023

Pay rises above inflation would be a terrible mistake, says Hunt

The chancellor says the impact of the junior doctors' strike on NHS patients is "regrettable".

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Sainsbury's follows Tesco in cutting milk prices

The rival supermarkets have cut the price of milk in their stores, a sign that inflation could be easing.

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Loscoe administrators support meat investigation

Loscoe Chilled Foods, near Heanor, made 120 staff redundant last month.

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Premier League clubs to ban gambling sponsorship on front of matchday shirts

Premier League clubs collectively agreed to withdraw gambling sponsorship from the front of clubs' matchday shirts by the summer of 2026.

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Man begins 320-mile journey from Derby to Cornwall on buses

Andrew Cowell has already used the government-funded £2 bus fare cap to travel from Derby to Whitby.

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Bank of England considers raising saver protection, governor says

The move is seen as one response to recent concerns over the strength of the banking system.

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Wednesday, April 12, 2023

Juul Labs agrees $462m deal to settle claims

Juul Labs agrees a deal to settle claims that it targeted teenagers with its products.

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Tesco cuts milk prices after wholesale costs fall

The supermarket says it is passing on savings to customers after seeing its own costs fall for milk.

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Six things we learned from Elon Musk interview

The world's second richest man spoke for nearly an hour on a wide range of subjects.

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Ex-CBI boss not shown report that led to dismissal

Tony Danker was dismissed immediately following a report into allegations of misconduct.

from BBC News - Business https://ift.tt/YHMFAc6

De La Rue says demand for banknotes at its lowest in 20 years

Banknote-maker De La Rue warns that its full-year profits will be lower than expected.

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Musk says owning Twitter has been a rollercoaster

The multi-billionaire defended his running of the company in a last-minute interview live from Twitter HQ.

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Tuesday, April 11, 2023

Changi Airport: Hanging out at the world's best airport

Singapore's Changi Airport is a particular point of pride in a country obsessed with rankings.

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Why robotic worms could one day dig beneath your feet

Simulating an earthworm's movement is difficult, but could have very useful real-world applications.

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UK to be one of worst performing economies in 2023 - IMF

The International Monetary Fund predicts the UK economy will shrink this year, alongside Germany.

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Tupperware shares plunge as it warns of possible collapse

The 77-year-old food storage business is facing a bleak future as it races to find new financing.

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CBI boss Tony Danker sacked over misconduct claims

The CBI dismisses Tony Danker following complaints about his conduct involving a female employee.

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Interest rates likely to fall to pre-Covid levels, IMF predicts

The IMF predicts borrowing costs will fall back once high inflation is brought under control.

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Junior doctors' strike: NHS faces most disruptive walkout yet

Thousands of junior doctors across England begin their four-day walkout in a dispute over pay.

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Monday, April 10, 2023

AI: China tech giant Alibaba to roll out ChatGPT rival

In recent months, technology firms around the world have unveiled their own generative AI chatbots.

from BBC News - Business https://www.bbc.co.uk/news/business-65236848?at_medium=RSS&at_campaign=KARANGA

More people entertaining at home as cost of living bites

Sales of home accessories and furniture rose in March as people ate out less to save money.

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World Startup Convention: The India start-up gala that exploded into a scandal

An event that dubbed itself the “world’s biggest funding festival” has been accused of duping entrepreneurs.

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Vodafone broadband down for customers across UK

Thousands of users of Vodafone landline internet have reported a loss of service.

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The Ukrainian refugees making a living somewhere new

After fleeing the war in Ukraine, refugees share their experiences of finding work in their new homes.

from BBC News - Business https://ift.tt/z79jtnG

Sunday, April 9, 2023

Elon Musk: Tesla to build new battery factory in Shanghai

Elon Musk's electric car firm says the Chinese plant will initially produce 10,000 units a year.

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Lithium: A white gold rush excites Cornwall - but who gains?

Locals wonder who will benefit from the mining of a metal that's fuelling a "battery arms race".

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Twitter: BBC objects to 'government funded media' label

Corporation says it wants to resolve issue after one of its main accounts receives new designation.

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Cost of living: Fish and chip shop that opened in 1961 shuts doors

Dennis Jackson, 84, says the last six decades of business had been "fantastic".

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Eurovision 2023: Airbnb host tried to increase rent from £465 to over £2,000

Roy Henry says the host he booked with tried to raise the price from £465 to more than £2,000.

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Friday, April 7, 2023

Good Friday shopping beats analyst expectations

Springboard said more people headed out to the shops, though levels remain below pre-pandemic levels.

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French police blame Dover port for border delays

French border police say the Port of Dover did not prepare properly for last weekend's holiday rush.

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Russian rouble falls to lowest value for a year

The currency tumbles against the dollar as Western sanctions continue.

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Thursday, April 6, 2023

Sri Lanka airline boss says 'don't be a CEO during Covid'

The state-owned carrier was hit by the pandemic, soaring fuel prices and the country's economic crisis.

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High Streets see revival of weekend shopping

With more workers back in offices many people are returning to pre-pandemic habits, a retail group says.

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World economy faces weakest growth since 1990 - IMF

The weak outlook reflects a sharp rise in borrowing costs weighing on businesses and households.

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Amazon takeover of iRobot faces UK watchdog probe

An investigation has begun into the tech giant's planned takeover of the makers of Roomba vacuum cleaners.

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NI licensing laws: No more supermarket points for alcohol sales

Alcohol sellers in Northern Ireland can no longer run some loyalty schemes, under new laws.

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Renting: Six out of 10 renters live in energy-inefficient homes

Renters in Blackpool tell the BBC they're struggling while living in flats which have poor energy efficiency ratings.

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Wednesday, April 5, 2023

Sainsbury's defends vac-pack mince after complaints

The store printed leaflets after complaints that its new eco-friendly packs turned the meat to mush.

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Cash App founder dead: Bob Lee dies after San Francisco stabbing

The 43-year-old man, identified by US media, dies after being found with stab wounds in San Francisco.

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Dover to stagger coaches to avoid Easter delays

Travel will be spread across three days and temporary border controls will be installed.

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Royal Mail pay talks with union collapse

The long-running row between the CWU and the postal firm continues after recent discussions failed.

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Treasury shuns lobby giant after rape claim

The BBC understands the chancellor and officials have "paused engagement" with the CBI.

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Virgin Orbit boss blasts leaders in parting email

Tony Gingiss, chief operating officer at the rocket firm, tells staff they "deserved better".

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Tuesday, April 4, 2023

JPMorgan chief Jamie Dimon warns banking crisis 'not yet over'

Jamie Dimon is a Wall Street veteran who steered JPMorgan through the 2008 financial crisis.

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'Cheated' Credit Suisse investors confront bank

The failed Swiss lender faced shareholders for the first time since a forced rescue by rival UBS.

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Coach firms try Eurotunnel after Dover ferry delays

The cross-Channel operator has seen a rise in enquiries but is unlikely to have availability.

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CBI cancels all public events after new sexual misconduct claims

The business lobby group is facing a number of allegations and is conducting an investigation.

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TikTok fined £12.7m for misusing children's data

The data regulator finds TikTok "did not do enough" to check the ages of who was using their platform.

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

Virgin Media internet down for thousands

The firm has around 5.8m home broadband users across the UK, according to its latest figures.

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Monday, April 3, 2023

Obituary: Nigel Lawson

He was one of Britain's longest-serving chancellors who presided over the 1980s economic boom.

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Nigel Lawson: Reforming Chancellor dies aged 91

Best known for his role as chancellor during the 1980s, Lord Lawson held key posts under Margaret Thatcher.

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McDonald's closes US offices ahead of corporate job cuts

The fast food chain is understood to be about to announce layoffs as part of a company restructuring.

from BBC News - Business https://ift.tt/EmAsnc0

John Lewis wins court battle over Edgar the dragon's Christmas advert

A children's author argued that the retailer copied one of her designs in its 2019 Christmas advert.

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

Cost of living: What payments are available and how do you claim?

Low-income households, pensioners and some disabled people can get extra help with energy bills.

from BBC News - Business https://ift.tt/EOR2t3H

Sunday, April 2, 2023

The other Chinese apps taking the US and UK by storm

Four out of the top 10 most downloaded free mobile apps in the US and UK are Chinese-owned.

from BBC News - Business https://ift.tt/bkFv5tG

Tesco boss won't predict when food price inflation will ease

John Allan says the firm is "doing its bit" to help customers cope with high inflation.

from BBC News - Business https://ift.tt/SenYr6Z

Twitter's blue ticks disappear as Musk attacks NY Times

The New York Times Twitter account has lost its blue tick after it said it would not pay to stay verified.

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Swiss probe into UBS takeover of Credit Suisse

The rushed takeover deal is to be investigated by Switzerland's federal prosecutor.

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Saturday, April 1, 2023

China's loans to Africa worry World Bank President David Malpass

The bank's president David Malpass says more transparency is needed when providing economic help.

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Food prices: How the humble shopping list is saving us money

Soaring food prices mean some families are missing meals and desperate for deals, but preparation can help.

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'I'm trapped in a joint mortgage with my abuser'

An abuse survivor describes her ordeal as a charity calls for action to tackle financial abuse. from BBC News https://ift.tt/bWL1OrA