Posts

Showing posts from June, 2023

Trainee pilots lose tens of thousands after flying schools collapse

Trainee pilots are urging the aviation watchdog to prevent others from losing money and qualifications. from BBC News - Business https://ift.tt/lLAUSJT

Dutch to restrict chip equipment exports amid US pressure

The Dutch government said the decision was taken on "national security grounds". from BBC News - Business https://ift.tt/gpRF16w

Migrant fruit-pickers are skilled workers says ex-minister George Eustice

The former environment secretary says the government is getting it wrong on immigration and skills. from BBC News - Business https://ift.tt/8sb32Gn

Warning energy bills to stay high for foreseeable future

The boss of the British Gas-owner Centrica forecasts that households will pay £2,000 a year. from BBC News - Business https://ift.tt/xbF4HAP

Customers withdraw record amount of savings in May

People withdraw £4.6bn from accounts in May - the highest on record, Bank of England data shows. from BBC News - Business https://ift.tt/xtbhPIm

Mortgages rates: Fresh round of rises imposed by lenders

Halifax, Nationwide and HSBC are among those increasing interest rates on new home loans. from BBC News - Business https://ift.tt/m7OAbxf

UK lithium mining announced in Cornwall

Two companies plan to supply the battery-grade product to the electric car industry within five years. from BBC News - Business https://ift.tt/AkzDpmT

Thames Water has significant issues to address Ofwat says

The regulator says Thames needs to improve its financial resilience, and it will keep the sector under scrutiny. from BBC News - Business https://ift.tt/PDzeCsA

The women tackling the woeful diversity in plumbing

Despite a shortage of plumbers and heating system installers the industry is still dominated by men. from BBC News - Business https://ift.tt/rgk78Xs

Sri Lanka: Five-day bank holiday for domestic debt restructuring

There are fears the government's plan could lead to volatility in financial markets. from BBC News - Business https://ift.tt/S0nQ2yJ

Cut low-cost broadband VAT to help more online peers say

Some people struggle to get online, putting them at a disadvantage, a Lord's committee says. from BBC News - Business https://ift.tt/5Je8Msx

ChatGPT owner OpenAI to open first foreign office in UK

The Microsoft-backed company says the London office will allow it to 'attract world-class talent'. from BBC News - Business https://ift.tt/3ts1y5i

BT investigated over major 999 call disruption

Probe launched after emergency services across the UK reported 999 calls were failing to connect on Sunday. from BBC News - Business https://ift.tt/kFhEfBK

Government 'prepared for range of scenarios' amid Thames Water collapse fears

Reports suggest the company is in talks over its future, with one option being temporary re-nationalisation. from BBC News - Business https://ift.tt/UQktJLn

The people making money from the pain of soaring prices

The BBC gains exclusive access to illegal moneylenders who are charging interest rates of up to 50%. from BBC News - Business https://ift.tt/nzOA8ir

Universal credit: Parents can claim more of their childcare costs

Working families on universal credit can claim more of their childcare costs from Wednesday. from BBC News - Business https://ift.tt/bNRxMES

Meta: Facebook owner launches virtual reality subscription service

It is the latest attempt by the parent company of Facebook to make its VR business profitable. from BBC News - Business https://ift.tt/73pQl6H

St Mungo's: Staff at homeless charity being indefinite strike over pay

The charity has said that meeting workers' demands would leave it not "financially viable". from BBC News - Business https://ift.tt/B9VwMuo

Cheers! Can AI help drinkers buy a better bottle of wine?

Wine recommendation apps are now using AI to help better match people with a bottle they will like. from BBC News - Business https://ift.tt/ifBvxlb

Follow EU regulation to keep costs low says Ford boss

Britain's car industry should keep "regulatory alignment" with the EU to avoid extra costs, says Tim Slatter. from BBC News - Business https://ift.tt/B0zoi1N

Banks being slow to pass on savings rates - Hunt

The chancellor says there is an "issue" with banks taking "too long" to pass on higher rates to savers. from BBC News - Business https://ift.tt/G8cSUXD

HSBC to leave Canary Wharf tower for new world headquarters

The bank will move to a smaller London office to allow for more flexible working post-pandemic. from BBC News - Business https://ift.tt/f9rOXpB

Cineworld screens stay open despite administration

The struggling cinema chain is undergoing a restructure as it tries to escape huge debts. from BBC News - Business https://ift.tt/aHs9GkZ

PwC Australia: Accounting giant splits business after tax leak scandal

The accounting giant will sell its Australian government consultancy operation for a nominal A$1. from BBC News - Business https://ift.tt/3yLltQN

Students switch to AI to learn languages

Many people are using AI like ChatGPT to improve their language skills but learning that way has drawbacks. from BBC News - Business https://ift.tt/Kexag8t

Britishvolt owner's offices raided by Australian tax police

The buyer of the prospective battery plant in Northumberland has not yet paid for the site. from BBC News - Business https://ift.tt/kt8emyo

Rishi Sunak urges people to hold their nerve on interest rates

The Prime Minister continues to back the Bank of England as mortgage pressure rises for homeowners. from BBC News - Business https://ift.tt/PH9MTKN

Can we stop being tricked into subscriptions?

The US and UK are trying to crack down on firms tricking customers into renewing their subscription. from BBC News - Business https://ift.tt/BrXn6SG

Zambian President Hichilema's $6bn debt deal hailed as 'historic'

Much of the money was owed to China, which had been accused of holding up a deal. from BBC News - Business https://ift.tt/L7DTZFB

Heathrow security staff call off strikes

Security staff at Heathrow will no longer strike after accepting an improved pay offer. from BBC News - Business https://ift.tt/U62TDLS

Sunny weather boosts clothing sales in May

Retail sales rose 0.3% last month as shoppers bought summer clothes and goods, official figures show. from BBC News - Business https://ift.tt/Rfa9D37

More than 20 councils replacing pay and display parking machines with apps

Councils say app payments save money but charities warn people without a smartphone could be excluded. from BBC News - Business https://ift.tt/M0BiNd6

Furby: Toy giant Hasbro brings back iconic robotic creature

The announcement comes as the global toy industry faces a slowdown in demand. from BBC News - Business https://ift.tt/jCI7RLq

Facebook and Instagram to restrict news access in Canada

It comes after parliament passed a bill requiring tech giants to compensate publishers for news. from BBC News - Business https://ift.tt/Wf9RrXQ

Temu: Risk fast-fashion website uses forced labour

The claims arise from an investigation into a US law barring imports made with Uyghur labour. from BBC News - Business https://ift.tt/YTB8t5J

Most university students working paid jobs survey shows

There has been a big increase across the UK in the number of students earning money, research reveals. from BBC News - Business https://ift.tt/qakh0Qt

Elon Musk: Australia issues legal warning to Twitter over online hate

Elon Musk bought the firm last year for $44bn and promised to protect free speech on the platform. from BBC News - Business https://ift.tt/PENOvBh

Wirecard scandal: Singapore fines firms over breaches

Separately, two former Wirecard employees were sentenced to jail in the city state earlier this week. from BBC News - Business https://ift.tt/f7PH32T

Turkey's Erdogan set for economic U-turn and steep interest rate hike

Turkey is expected to reverse some of the unorthodox economic policies of President Erdogan. from BBC News - Business https://ift.tt/iOLjVMk

Interest rates: How a rise affects you and your money

The Bank of England is expected to raise rates from a current level of 4.5% to control price rises. from BBC News - Business https://ift.tt/lx28OLm

Doune the Rabbit Hole music festival cancelled after union boycott

Organisers said they had been subjected to a "campaign of misinformation" by the Bectu union. from BBC News - Business https://ift.tt/8Usr2Dz

WH Smith M&S and Argos failed to pay minimum wage

More than 200 firms face penalties and must repay workers after breaches hit 63,000 people. from BBC News - Business https://ift.tt/f5bx8Gg

Ukraine war: Push to rebuild economy starts with UK's $3bn

The World Bank says many years of financial support are needed as London hosts a major conference. from BBC News - Business https://ift.tt/FwkWhLx

Airbus experiments with more control for the autopilot

Airbus has been testing new automated technology that it says has the potential to improve flight safety. from BBC News - Business https://ift.tt/wA9WzbX

Bernie Sanders announces Amazon safety investigation

The move raises pressure on the e-commerce giant over its treatment of workers. from BBC News - Business https://ift.tt/WUOPaGd

Is food inflation higher in Europe than in the UK?

Food prices are growing faster in the UK than in Germany, Portugal or Sweden. from BBC News - Business https://ift.tt/QwO4WHA

Post Office bosses told to repay mistaken bonuses

The money was paid for completing an Inquiry which still hasn't finished from BBC News - Business https://ift.tt/D6kdiej

Ministers to block plans to ban new coal mines

Measures to allow community projects to sell electricity directly to local homes are also set to be dropped. from BBC News - Business https://ift.tt/k9pe8uv

Rent takes up biggest share of pay for 10 years

Tenants are spending 28% of their earnings on rent, the biggest proportion for a decade, new figures show. from BBC News - Business https://ift.tt/unFXhsP

Amazon Hilton and Pepsi to hire thousands of refugees in Europe

More than 40 big European firms pledge to hire and train 250,000 Ukrainian and other refugees. from BBC News - Business https://ift.tt/KNr51Ew

Record aircraft purchase announced at Paris Airshow

The deal between Indian carrier IndiGo and Airbus is the largest single order by any commercial airline. from BBC News - Business https://ift.tt/LCYvr8p

Morrisons and M&S latest to cut price of basics

Scores of goods are to be discounted as retailers face pressure to help ease the cost of living. from BBC News - Business https://ift.tt/guHlBWC

Reddit protesters bombard site with John Oliver pictures

Some of the biggest subreddits are now only allowing posts featuring the British comedian. from BBC News - Business https://ift.tt/JcP2CsF

Mortgage deal: Average two-year fix now above 6%

It is the first time since December that the rate has been as high as 6%, driving up costs for homeowners. from BBC News - Business https://ift.tt/8rgM62R

Keir Starmer pledges to end North Sea exploration and let areas profit from clean power

Sir Keir Starmer will vow to cut bills and create jobs when he sets out his party's green energy plans. from BBC News - Business https://ift.tt/scnvkOl

Pirelli: Italy blocks Chinese control of tyre giant

It comes as tensions between Beijing and the West are in focus as the US secretary of state visits China. from BBC News - Business https://ift.tt/nehckUd

Mortgage help 'under review' says Michael Gove

Michael Gove was asked about what whether any help would be given to those struggling with payments. from BBC News - Business https://ift.tt/XecHO2W

Why Spotify's big bet on Meghan Markle fell flat

The end of the Duchess of Sussex's podcast on Spotify is a sign of wider change in the industry. from BBC News - Business https://ift.tt/NJl8k5e

Binance exits Netherlands and faces France probe

The world's largest cryptocurrency exchange faces setbacks in Europe. from BBC News - Business https://ift.tt/VbXYxsr

Bill Gates meets Xi Jinping as US-China tensions simmer

The Microsoft co-founder is the latest high-profile US business leader to visit China in recent months. from BBC News - Business https://ift.tt/ZHA4B5c

Richard Branson: Virgin Galactic commercial space flights to start this month

It comes just weeks after a separate space firm owned Sir Richard, Virgin Orbit, was shut down. from BBC News - Business https://ift.tt/GxeP8wM

'Selling second-hand clothes online became my full-time job'

"Pre-loved" clothing is big business and it is not just about saving money and the planet. from BBC News - Business https://ift.tt/YR8DLWl

Lincolnshire beans could provide British solution to imports

Scientists have developed a haricot seed they hope will thrive in the UK after a 12-year project. from BBC News - Business https://ift.tt/ufEM7A6

Maharashtra: The Indians taking on oil giants to stop $40bn refinery

Thousands of villagers are protesting plans for the world's largest refinery in Maharashtra. from BBC News - Business https://ift.tt/YvRT3Dt

Hacker gang Clop publishes victim names on dark web

Criminal hacker group begin posting names of companies to darkweb. from BBC News - Business https://ift.tt/s2OJrdc

Energy saving to return to prevent winter blackouts

National Grid says that the Russia-Ukraine war poses a risk to future energy supplies. from BBC News - Business https://ift.tt/6bqok2Q

We Soda scraps UK share listing in blow to London

The firm says "extreme investor caution" meant it could not achieve its valuation goal. from BBC News - Business https://ift.tt/UnyI0LD

New Zealand: Economy slips into recession after interest rate hikes

The country's central bank has aggressively raised interest rates since October 2021. from BBC News - Business https://ift.tt/7F5UpBy

Elon Musk: Twitter sued by music publishers in copyright case

A group representing 17 publishers in the US is seeking more than $250m in damages. from BBC News - Business https://ift.tt/co3O2kj

Bars and pubs help UK economy grow in April

Official figures show that the economy expanded by 0.2% due to the hospitality sector. from BBC News - Business https://ift.tt/6jBNeI5

Dylan Mulvaney: Bud Light loses top spot in US after boycott

Some drinkers boycotted the brand after the firm partnered with transgender influencer Dylan Mulvaney. from BBC News - Business https://ift.tt/dJ8ntmj

Amazon server outage makes some websites go dark

The outage is being resolved and affected web services for some fast food apps, airlines and others. from BBC News - Business https://ift.tt/RpZ8xSP

Microsoft-Activision: $69bn deal temporarily blocked in US

The deal to buy the Call of Duty publisher would be the largest in the history of the video games industry. from BBC News - Business https://ift.tt/YOxyV4N

Discrimination bigger concern from AI than human extinction says EU chief

The warning comes ahead of the European Parliament voting on rules to regulate artificial intelligence. from BBC News - Business https://ift.tt/XayHU17

Can Amsterdam make the circular economy work?

Amsterdam has ambitious plans to radically cut the amount of resources used by the city's economy. from BBC News - Business https://ift.tt/myVcekt

Jack Dorsey: India threatened to shut Twitter and raid employees

Former Twitter CEO Jack Dorsey's allegations have been denied by the Indian government. from BBC News - Business https://ift.tt/GFmovsl

US moves to block Microsoft's Activision takeover

Regulators have asked a judge to block the proposed deal, arguing it could harm competition levels. from BBC News - Business https://ift.tt/JKcNRSt

Number not working due to sickness hits fresh record

Around 2.6 million people are not working due to long-term health problems, official figures show. from BBC News - Business https://ift.tt/ePYMjOU

Twitter to be 'most accurate real-time info source', Yaccarino says

Chief executive Linda Yaccarino says the company aims to "drive civilisation forward". from BBC News - Business https://ift.tt/nZgByru

Amazon using AI to boost fight against fake reviews

The tech giant is developing new tools to help track down the brokers buying and selling reviews. from BBC News - Business https://ift.tt/i5NV2vL

Tuffnells: Parcel firm goes bust with loss of more than 2,000 jobs

Administrators for Tuffnells say rising costs, the pandemic and competition have caused problems. from BBC News - Business https://ift.tt/BGz2Kjk

MOVEit hack: media watchdog Ofcom data downloaded in cyber attack

The regulator said information about firms and employees had been affected by a cyber-attack. from BBC News - Business https://ift.tt/2gSmPHW

Reddit communities go dark in protest at changes

Thousands of subreddits are shut down for 48 hours following controversial charging plans. from BBC News - Business https://ift.tt/poPghl3

Warning UK mortgage rates set to rise further

It comes as 1.5 million people are set to come off fixed-rate mortgage deals this year. from BBC News - Business https://ift.tt/NAGySBi

George Soros hands reins of $25bn empire to son Alex

The American financier, targeted by right-wing conspiracists, is passing control of foundations to his son. from BBC News - Business https://ift.tt/94D57LW

Why second-hand fashion is back in style

"Pre-loved" clothing is big business and it is not just about saving money and the planet. from BBC News - Business https://ift.tt/FC0Plxk

Danone boss calls for higher taxes on unhealthy food

Danone's UK president wants the government to use tax incentives to promote healthier products. from BBC News - Business https://ift.tt/8kWoiQe

Five reasons why mortgages are getting us down

Rising mortgage rates are causing a headache for homeowners and buyers, so what is behind the maelstrom? from BBC News - Business https://ift.tt/tRXu4Uz

Crispin Odey: City boss quits firm after sexual misconduct claims

Crispin Odey, a prominent hedge fund boss, strenuously denies the allegations. from BBC News - Business https://ift.tt/J5w8Hdy

Reddit blackout: Subreddits to go private on Monday

More than 1,000 subreddits will be inaccessible for 48 hours to protest changes. from BBC News - Business https://ift.tt/7ZqwixG

Tesco reported to regulator over Clubcard prices

The consumer group says Tesco could be breaking the law by not being clear enough about its unit pricing. from BBC News - Business https://ift.tt/upVhZR6

Windfall tax to fall if oil and gas prices drop

The tax was introduced last year to help fund the government's scheme to lower energy bills. from BBC News - Business https://ift.tt/Yok5WXQ

Zomato takes down controversial ad depicting Dalit character

Zomato takes down an advert that faced backlash for its depiction of a Dalit character. from BBC News - Business https://ift.tt/2GFML6Q

Odey Asset Management City probed as sexual harassment claims emerge

News of the investigation comes as found Mr Odey is accused of sexually harassing or assaulting 13 women. from BBC News - Business https://ift.tt/W0ng6le

Eurozone in recession as rising prices hit spending

Revised data shows the eurozone's economy contracted at the end of last year and the start of 2023. from BBC News - Business https://ift.tt/3adZASw

Rising rates to hit housing demand, builder says

Housebuilder Crest Nicholson warns of a further slowdown as it reports lower sales and profits. from BBC News - Business https://ift.tt/rk2IgYi

Banks accused of 'measly' interest rates on savings

MPs criticise banks as instant access savings rates sit well below the Bank of England base rate. from BBC News - Business https://ift.tt/kqaSNPw

Crypto: 24-hour cooling-off period included in ad overhaul

Crypto bosses could face up to two years' imprisonment if they fail to comply with the new rules. from BBC News - Business https://ift.tt/2Rvuq1s

Sir Ivan Menezes: Boss of Guinness maker Diageo dies at 63

India-born Sir Ivan Menezes was the chief executive of Diageo, the world's biggest spirits company. from BBC News - Business https://ift.tt/m2D3sf0

More pain for renters as landlords look to sell up

Rising borrowing costs and plans for stricter rules are affecting the rental sector, surveyors say. from BBC News - Business https://ift.tt/DrYQ90p

CNN chief out after just 13 months

Chris Licht had been criticised for CNN's handling of a recent town hall interview with Donald Trump. from BBC News - Business https://ift.tt/L5UwgN8

Heathrow security officers announce summer strikes

Around 2,000 security officers will walk out for 31 days in June and August. from BBC News - Business https://ift.tt/mNEFq3x

Rishi Sunak to raise trade issues in US talks with Joe Biden

The prime minister says "subsidy races" are not a solution to hitting climate goals, as he visits Washington. from BBC News - Business https://ift.tt/lCYKXz1

TikTok: ByteDance accused of helping China spy on Hong Kong activists

The Beijing-based firm has denied Chinese Communist Party members were allowed to access user data. from BBC News - Business https://ift.tt/IjgRzQ2

Sainsbury's chief executive total pay rises to £5m

Simon Roberts earned a bonus and share awards despite a drop in profits at the supermarket chain. from BBC News - Business https://ift.tt/qtcVeFK

CBI: Scandal-hit business group wins survival vote

Members have backed the lobbying giant but it is not clear if the government will renew engagement. from BBC News - Business https://ift.tt/Oang1QY

PGA Tour and LIV Golf agree merger to end split in golf

The PGA Tour agrees to merge with Saudi Arabian-backed rival circuit LIV Golf in a deal that ends the split in the sport. from BBC News - Business https://ift.tt/8V5OnP4

MoveIt hack: What action can data-breach victims take?

Experts give advice to the more than 100,000 warned their personal data is in the hands of cyber-criminals. from BBC News - Business https://ift.tt/a3te5Uu

Energy giant SSE to pay £9.8m penalty for pricing breach

The Perth-based company is found to have overcharged the National Grid for lowering output. from BBC News - Business https://ift.tt/dNtT3Uz

Singapore to hold final horse race after more than 180 years

The Southeast Asian island nation's only race course will hold its final meeting next year. from BBC News - Business https://ift.tt/QEDdAXI

Apple expected to launch mixed-reality headset at WWDC

The "Reality Pro" headset release is among announcements expected at Apple's Worldwide Developers Conference. from BBC News - Business https://ift.tt/IBSoXzR

Lidl next to vac pack mince after Sainsbury's 'mush' complaints

Lidl is following an eco-friendly move that some Sainsbury's shoppers complained turned the meat to mush. from BBC News - Business https://ift.tt/CMJcVqE

Mortgages: Average two-year fixed-rate mortgage deal £35 a month more

Mortgage rates have risen since recent figures showed inflation not coming down as quickly as expected. from BBC News - Business https://ift.tt/QeRW0Yz

Could ultra-processed foods be harmful for us?

Panorama investigates the links between UK's food safety advisors and the ultra-processed food industry. from BBC News - Business https://ift.tt/aK1mNSp

Universal basic income: Plans drawn up for £1,600 a month trial in England

Thirty people would get a monthly lump sum for two years, under a think tank's scheme in England. from BBC News - Business https://ift.tt/NV4cd3y

Elon Musk: Twitter snaps up top NBCUniversal executive

It comes just weeks after NBCUniversal's head of advertising Linda Yaccarino was named as Twitter's CEO. from BBC News - Business https://ift.tt/MPKeIvT

New business body launched as CBI faces crunch vote

The Business Council, set up by the Chambers of Commerce, has Heathrow, BP and Drax among its members. from BBC News - Business https://ift.tt/4EZcgkX

Money: £9bn in old UK banknotes and coins not cashed in

Paper £50 and £20 notes have been unusable since October, but can still be exchanged. from BBC News - Business https://ift.tt/2mTFJL3

Vote on CBI's reforms 'nerve-wracking', says new boss

Rain Newton Smith says she believes the CBI should survive ahead of vote of confidence at the group. from BBC News - Business https://ift.tt/rFyTq15

'Mortgage costs right now are terrifying'

With rates rising and mortgages disappearing from the market, buyers reveal their struggles to get a deal. from BBC News - Business https://ift.tt/zqRes3S

Train strikes hit FA Cup final and Beyoncé concert

Drivers walk out over pay and conditions in the third rail strike this week. from BBC News - Business https://ift.tt/FZ5lYQX

Diesel falls 12p but should be lower, says RAC

The price of diesel fell to £1.47 in May but the RAC argues the price should be cut further. from BBC News - Business https://ift.tt/wltv3X4

Train strikes: When are they and why are they taking place?

Train drivers walk out on Saturday, after a week of stoppages by both Aslef and the RMT. from BBC News - Business https://ift.tt/fohS14p

Elon Musk's Twitter loses second trust and safety chief

Ella Irwin is the second person to leave the role since Mr Musk bought Twitter in October 2022. from BBC News - Business https://ift.tt/BciVXls

iPhone in India: Foxconn to manufacture smartphones in Karnataka by April 2024

Apple's decision to manufacture iPhones in India aims at diversifying its supply chains away from China from BBC News - Business https://ift.tt/UAThGQp

UK inflation: Food prices causing problems for farmers

Tessa Elliot, a farmer from Pembrokeshire, says inflation has made it difficult to keep afloat. from BBC News - Business https://ift.tt/sjvSCXT

The tech tricks that make computer games look real

Computer games are becoming indistinguishable from photos or videos of the real world. from BBC News - Business https://ift.tt/Xd75ifQ

British Airways fined $1.1m by US government

The US says the airline did not "provide timely refunds to passengers" during Covid. from BBC News - Business https://ift.tt/Q1mZosh

Housing market could be hit by higher interest rates, Nationwide warns

Nationwide says the market could see "headwinds" strengthen if mortgage rates rise further. from BBC News - Business https://ift.tt/jVsvi60