Back Business Thursday, December 5, 2019
Search Sections 5 Dec
Close
Advertisement
Jay Kriegel, a ‘New York City Patriot,’ Is Dead at 7924m Jay Kriegel, a ‘New York City Patriot,’ Is Dead at 79
A former whiz kid in Lindsay’s City Hall, he became a knows-everybody “process broker” with wide reach in civic affairs, broadcasting and real estate.
 Like Reply
U.S. Objects to World Bank’s Lending Plans for China38m U.S. Objects to World Bank’s Lending Plans for China
The development institution has become the latest flash point between the world’s two largest economies.
 Like Reply
Uber: 3,045 Sexual Assaults Reported in U.S. Rides Last Year44m Updated Uber: 3,045 Sexual Assaults Reported in U.S. Rides Last Year
In its first safety report, the ride-hailing company detailed sexual assaults, murders and fatal crashes through its platform.
 Like Reply
Blackrock fires top executive for having an affair with a colleague1h 53m Updated Blackrock fires top executive for having an affair with a colleague
Mark Wiseman, global head of active equities, had been tipped to succeed boss Larry Fink, but he was fired after admitting the relationship broke company rules.
 Like Reply
Glencore faces bribery probe by fraud office investigation1h 53m Updated Glencore faces bribery probe by fraud office investigation
The SFO revealed that it was looking at the 'conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons' as part of its investigation.
 Like Reply
Security fear as China bids for military aeroplane parts firm Impcross2h Security fear as China bids for military aeroplane parts firm Impcross
Business Secretary Andrea Leadsom has issued an intervention notice to investigate Gardner Aerospace's takeover of military aeroplane parts maker Impcross.
 Like Reply
United C.E.O. Munoz to Step Down, 5 Years After Leading Turnaround2h Updated United C.E.O. Munoz to Step Down, 5 Years After Leading Turnaround
Oscar Munoz will leave the role in May and be succeeded by J. Scott Kirby, the company’s president.
 Like Reply
MARKET REPORT: Dunelm gives High Street a much-needed boost2h MARKET REPORT: Dunelm gives High Street a much-needed boost
Sales are doing so well that Dunelm expects to make higher profits than forecast this year. Much of the boost was down to the firm's claim in a brief trading update that its new website was doing well.
 Like Reply
OPEC and Russia Agree to Cuts in Oil Production to Push Up Prices2h Updated OPEC and Russia Agree to Cuts in Oil Production to Push Up Prices
It remains to be seen whether the reduction in output will have an impact on prices amid a worldwide glut and cheating on agreements.
 Like Reply
After M&G fund bans withdrawals, figures reveal a £5bn property slump2h After M&G fund bans withdrawals, figures reveal a £5bn property slump
The combination of savers rushing to withdraw money and poor performance has caused the sector to shrink by £4.7bn to £22.6bn in the first ten months of 2019.
 Like Reply
2h Updated Saudi Aramco to Raise $25.6 Billion in Biggest I.P.O. Ever
Aramco, the world’s largest oil company, set a price for its shares that marks the company’s value at $1.7 trillion.
 Like Reply
ALEX BRUMMER: Open funds feel the burn in wake of the Woodford debacle2h ALEX BRUMMER: Open funds feel the burn in wake of the Woodford debacle
Little has been heard about savings during the current election campaign. From a Conservative point of view that is just as well. It has been a year of shattering problems.
 Like Reply
Blackstone rumoured to be preparing offer for IQ Student Accommodation2h Blackstone rumoured to be preparing offer for IQ Student Accommodation
Initial bids for IQSA, which is controlled by Goldman Sachs and the Wellcome Trust, must be submitted before Christmas. IQSA is considering either a stock market float or a sale in 2020, Sky News reported.
 Like Reply
Boohoo pair cash in £142m of shares after price soars 75% this year2h Boohoo pair cash in £142m of shares after price soars 75% this year
Mahmud Kamani, 55, and Carol Kane, 53, set up Bohoo in 2006 to supply High Street stores such as Topshop. But they found success selling directly to consumers through the internet.
 Like Reply
G.M. Venture to Create Ohio Battery Plant and 1,100 Jobs2h Updated G.M. Venture to Create Ohio Battery Plant and 1,100 Jobs
A deal with LG Chem of South Korea will further the automaker’s plans for electric vehicles and fulfill a pledge made after its Lordstown plant was idled.
 Like Reply
Nearly a Third of Teens Use One or More Tobacco Products2h Updated Nearly a Third of Teens Use One or More Tobacco Products
While e-cigarettes are still the most popular, teenagers are also smoking other items like cigarillos — another worrisome sign for nicotine addiction, the C.D.C. says.
 Like Reply
How a Preacher’s Grandson From Rural Georgia Grew Up to Lead Cisco3h Updated How a Preacher’s Grandson From Rural Georgia Grew Up to Lead Cisco
As the head of a $185 billion technology company, Chuck Robbins says, “We have to run a good business, but there’s more to it.”
 Like Reply
4h Updated Macron pension reform: France paralysed by biggest strike in years
Some 800,000 people walked out nationwide over proposed pension reform.
 Like Reply
Huawei Sues the F.C.C., Ramping Up Fight With Critics and Foes4h Updated Huawei Sues the F.C.C., Ramping Up Fight With Critics and Foes
The commission took aim last month at the Chinese tech giant’s sales to telecom carriers in rural America.
 Like Reply
5h Updated Thomas Cook customers face further refund delays
A third of the first Thomas Cook customers to claim refunds will not be paid within the 60-day target.
 Like Reply
Could Tax Increases Speed Up the Economy? Democrats Say Yes5h Updated Could Tax Increases Speed Up the Economy? Democrats Say Yes
Led by Elizabeth Warren, presidential candidates and liberal economists are pushing an unorthodox “pro-growth” argument for raising taxes on the rich.
 Like Reply
United C.E.O. Munoz to Step Down5h United C.E.O. Munoz to Step Down
Oscar Munoz will leave the role in May and be succeeded by J. Scott Kirby, the company’s president.
 Like Reply
Eddie Stobart transport firm teeters on brink of collapse5h Eddie Stobart transport firm teeters on brink of collapse
Up to 6,500 jobs at risk as shareholders prepare to vote on company’s future The Eddie Stobart transport business, famed for its red and green lorries, is teetering on the brink of collapse with its future due to be decided at a key shareholder vote in London on Friday. The vote will pit William Stobart, the third son of the company’s founder, against his childhood friend and former brother-in-law, Andrew Tinkler.
 Like Reply
BP boosts stake in solar firm amid clean energy plan for its offices6h BP boosts stake in solar firm amid clean energy plan for its offices
Oil and gas firm will buy new shares from startup Lighthouse BP for undisclosed price BP has increased its stake in British solar venture Lightsource BP as it prepares to strike a deal to power its offices with renewable energy from next year. The companies announced plans to set up a 50:50 joint venture almost two years after BP made its return to the solar market by snapping up a 43% stake in Lightsource for £200m.
 Like Reply
DMGT bolstered by MailOnline growth and strong newspaper market share6h DMGT bolstered by MailOnline growth and strong newspaper market share
DMGT, the owner of MailOnline, This is Money and the Mail and Metro newspapers, said annual revenue in its consumer media division grew by 3 per cent to £672million.
 Like Reply
Aston Martin shares accelerate on talk of bid by F1 billionaire7h Aston Martin shares accelerate on talk of bid by F1 billionaire
Lawrence Stroll, owner of Formula One team Racing point, seeking large stake Shares in Aston Martin have surged on reports that the billionaire owner of a Formula One racing team is preparing to bid for a significant stake in the luxury carmaker. Lawrence Stroll, the owner of Racing Point, is leading a consortium that is considering a stake in the British firm, according to Autocar.
 Like Reply
Ex-Ofcom boss examines Heathrow break-up plan7h Ex-Ofcom boss examines Heathrow break-up plan
A firm set up by the former boss of Britain's media regulator is to advise on a possible break-up of the monopoly hold on Heathrow's terminals enjoyed by the airport's owner.
 Like Reply
Sports Direct puts Lillywhites London lease up for sale8h Sports Direct puts Lillywhites London lease up for sale
Former ‘Harrods of sport’ has traded from site since 1925 but landlord is reviewing rent Mike Ashley’s
 Like Reply
Sterling surges to two-and-a-half-year high against euro and seven-month high against dollar8h Updated Sterling surges to two-and-a-half-year high against euro and seven-month high against dollar
With a week to go until polling day, the pound rose to €1.184 and $1.315 on growing expectations that a hung parliament will be avoided and Boris Johnson will secure a majority.
 Like Reply
Hospitals Sue Trump to Keep Negotiated Prices Secret8h Updated Hospitals Sue Trump to Keep Negotiated Prices Secret
The administration wants to require hospitals to reveal the rates they privately negotiate with insurers for all sorts of procedures, amid the public outcry over surprise medical bills.
 Like Reply
UK household wealth surges thanks to pensions and property8h UK household wealth surges thanks to pensions and property
Between April 2016 and March 2018, the total net wealth of Britain's households swelled to £14.6trillion, marking a13 per cent on the previous two years, official figures from the ONS reveal.
 Like Reply
Pound hits 31-month high against the euro on Tory win predictions – business live8h Updated Pound hits 31-month high against the euro on Tory win predictions – business live
Rolling coverage of the latest economic and financial news, as sterling hits €1.184 for the first time since May 2017
 Like Reply
United C.E.O. Munoz to Step Down, Replaced by Kirby8h United C.E.O. Munoz to Step Down, Replaced by Kirby
Oscar Munoz will leave the role in May and be succeeded by J. Scott Kirby, the company’s president.
 Like Reply
8h Plum: Users of money app complain of long delays for withdrawals
Users say they have had to wait days to get their money out and have struggled to get information.
 Like Reply
Total household net wealth surges to £14trillion as we stash more cash into pensions and property9h Total household net wealth surges to £14trillion as we stash more cash into pensions and property
Between April 2016 and March 2018, the total net wealth of Britain's households swelled to £14.6trillion, marking a13 per cent on the previous two years, official figures from the ONS reveal.
 Like Reply
Opec considering huge oil production cuts to avoid market slump9h Opec considering huge oil production cuts to avoid market slump
Cartel may cut up to 800,000 barrels a day from market as global economy falters The Opec oil cartel is considering deeper cuts to production next year to avert a price slump in the market as the global economy falters. Ministers from some of the world’s biggest “petro-nations” are expected to cut an extra 400,000 barrels of oil a day from the global market, and may consider even deeper cuts of up to 800,0000 barrels, according to reports.
 Like Reply
United Airlines C.E.O. to Step Down9h Updated United Airlines C.E.O. to Step Down
Oscar Munoz will leave the role in May and be succeeded by J. Scott Kirby, the company’s president.
 Like Reply
9h UK household debts see big increase
Debts including credit card debt and personal loans have risen 11% to £119bn in two years.
 Like Reply
One in ten new cars sold in Britain are now electrified10h One in ten new cars sold in Britain are now electrified
Demand for battery powered cars (like the Tesla Model 3 pictured), plug-in hybrids and hybrids has soared in the last year - but diesel sales have slumped 27%, according to the SMMT.
 Like Reply
The Chinese Roots of Italy’s Far-Right Rage10h The Chinese Roots of Italy’s Far-Right Rage
The country’s new politics are often attributed to anger over migrants. But the story begins decades ago, when China first targeted small textile towns.
 Like Reply
Mining giant investigated over suspected bribery 10h Mining giant investigated over suspected bribery
Fraud investigators have launched an inquiry into global mining giant Glencore over suspected bribery.
 Like Reply
Working at Equinox: ‘It’s Very Hunger Games’10h Updated Working at Equinox: ‘It’s Very Hunger Games’
Working for the high-end gym chain seems glamorous, but for many trainers the schedule is unforgiving, the pay low and the turnover high.
 Like Reply
New car sales fall again as UK demand for diesel vehicles dives11h Updated New car sales fall again as UK demand for diesel vehicles dives
Hybrid and electric models reach 10% market share, while diesel cars account for 23.6% Sales of new cars in the UK continued to fall last month as demand for diesel vehicles declined sharply, while hybrid and electric vehicles reached a new record market share. Weak business and consumer confidence, economic uncertainty and confusion over diesel and clean air zones dragged down demand for new cars, said the Society of Motor Manufacturers and Traders, the industry body.
 Like Reply
Aston Martin shares accelerate on talk of Stroll bid11h Aston Martin shares accelerate on talk of Stroll bid
Aston Martin shares have surged by a fifth amid reports the owner of the Racing Point Formula One (F1) team is plotting to take a major stake.
 Like Reply
How Google’s Founders Slowly Stepped Away From Their Company11h Updated How Google’s Founders Slowly Stepped Away From Their Company
Larry Page and Sergey Brin became billionaires thanks to the success of Google. But toward the end, they appeared happy to let someone else run it.
 Like Reply
Google promotes websites that mimic official Government pages12h Updated Google promotes websites that mimic official Government pages
Tricksters are setting up official-looking copycat sites and using them to charge for services that should be free. They pay to come top of searches like 'apply for national insurance number'.
 Like Reply
12h Eddie Stobart faces crunch rescue vote
One of the troubled firm's largest shareholders wants to lend it £55m through costly, high-interest bonds.
 Like Reply
How Disputes Over Big Tech Are Disrupting Global Trade12h How Disputes Over Big Tech Are Disrupting Global Trade
Faced with outdated trade rules that don’t cover advancements in technology, some countries are forging their own paths.
 Like Reply
CFA UK calls for tiered fees to be adopted for funds sold to retail investors12h Updated CFA UK calls for tiered fees to be adopted for funds sold to retail investors
A body representing the UK investment industry has advised that fund managers should bring in a tiered fee structure for retail funds due to their simplicity and transparency
 Like Reply
For Moving Mountains, or Climbing Them, Jeep’s Wrangler Goes Diesel12h For Moving Mountains, or Climbing Them, Jeep’s Wrangler Goes Diesel
Gasoline engines generally have less “oomph” for grunt work. But diesel power has a drawback: emissions.
 Like Reply
G.M. Has Partner for Battery Making: LG Chem12h G.M. Has Partner for Battery Making: LG Chem
The South Korean company’s investment follows a pledge by General Motors to set up a battery plant for electric cars near its shuttered Lordstown factory in Ohio.
 Like Reply
Fears for commercial property investors as M&G gates flagship fund12h Fears for commercial property investors as M&G gates flagship fund
Fund house M&G has suspended its £2.5billion Property Portfolio after a rush of investors pulled out amid Brexit uncertainty, so will other giant property funds be forced to follow suit?
 Like Reply
My boiler has broken: What you need to know about getting a new one12h Updated My boiler has broken: What you need to know about getting a new one
Every winter, thousands of households face a dreaded boiler death. It can be an expensive headache and a minefield as to what the next steps are.
 Like Reply
A Vanguard LifeStrategy fund can make pension investing cheap and easy12h Updated A Vanguard LifeStrategy fund can make pension investing cheap and easy
I don't have a Vanguard account, but if someone said they wanted an easy and cheap way to build their wealth, opening one and picking a Lifestrategy fund would be near the top of my list of things to try.
 Like Reply
Japan Plans to Spend $120 Billion to Stimulate Slowing Economy12h Japan Plans to Spend $120 Billion to Stimulate Slowing Economy
Prime Minister Shinzo Abe announced the spending as the country’s economy has slowed because of reduced demand from China and tensions with South Korea.
 Like Reply
Rear sliding door SMASHES OFF VW Sharan MPV in Euro NCAP crash tests12h Updated Rear sliding door SMASHES OFF VW Sharan MPV in Euro NCAP crash tests
When collided with a pole in a side impact test, video footage shows how the rear passenger door of the seven-seat VW Sharan, which costs almost £30k, comes away from the vehicle structure.
 Like Reply
Blackstone weighs bid for £4bn student digs group13h Blackstone weighs bid for £4bn student digs group
The world’s largest property investor is weighing a £4bn takeover bid for a major British student housing provider as its owners plot a sale or stock market listing in 2020.
 Like Reply
13h Updated Macron pension reform: France paralysed by biggest national strike in years
Transport and schools are severely affected as millions threaten to strike over pension changes.
 Like Reply
13h Updated Huawei launches new legal challenge against US ban
The Chinese company filed the case after it was labelled as a security threat by Washington.
 Like Reply
Pedal Me fights pollution with electric bike deliveries13h Updated Pedal Me fights pollution with electric bike deliveries
Pedal Me allows customers to book a taxi in the form of a cargo bike whilst also offering companies the ability to order one of the specially designed bikes to carry large loads of deliveries.
 Like Reply
Customers claim victory as Co-op Bank recognises ethics campaign14h Customers claim victory as Co-op Bank recognises ethics campaign
Customer union’s 1,200 members vow to protect rescued bank’s ethical policies The Co-operative Bank has agreed to formally recognise a customer “union” which aims to protect the bank’s ethical policies now it is owned by hedge funds. The
 Like Reply
Rental crisis shows UK housing benefit claimants struggle to find a home15h Updated Rental crisis shows UK housing benefit claimants struggle to find a home
Research looked at homes available near both Boris Johnson and Jeremy Corbyn's constituency offices and those of other top MPs with responsibility for housing or benefits.
 Like Reply
Huawei: Boris Johnson suggests UK will comply with US15h Huawei: Boris Johnson suggests UK will comply with US
Boris Johnson has suggested that the UK will comply with the American stance on banning Huawei equipment within the country's 5G network.
 Like Reply
Three points added to your licence will see insurance premiums soar by £209 a year16h Three points added to your licence will see insurance premiums soar by £209 a year
The increase in price is so high that penalty points have added around a massive £230million to insurance premiums, according to data from comparison website, Compare the Market.
 Like Reply
16h Updated HSBC to bring in single overdraft rate of 40%
The move will as much as quadruple the rate it charges some customers.
 Like Reply
Tourists face travel chaos as national strike begins across France17h Tourists face travel chaos as national strike begins across France
Travellers heading to and from France face five days of chaos due to a general strike across the country over pension reform.
 Like Reply
South African Airways lands emergency loan deal to prevent collapse17h South African Airways lands emergency loan deal to prevent collapse
South African Airways (SAA) is on course to be saved from collapse through an emergency government loan deal.
 Like Reply
19h Huawei launches a new legal challenge against US ban
The Chinese company filed the case after it was labelled as a security threat by Washington.
 Like Reply
Huawei Hits Back at the F.C.C. With a Legal Challenge21h Updated Huawei Hits Back at the F.C.C. With a Legal Challenge
The commission took aim last month at the Chinese tech giant’s sales to telecom carriers in rural America.
 Like Reply
China’s Genetic Research on Ethnic Minorities Sets Off Science Backlash22h Updated China’s Genetic Research on Ethnic Minorities Sets Off Science Backlash
Scientists are raising questions about the ethics of studies backed by Chinese surveillance agencies. Prestigious journals are taking action.
 Like Reply
Biden Proposes Smaller Tax Increases Than Rivals Do22h Updated Biden Proposes Smaller Tax Increases Than Rivals Do
His set of tax plans would ask the highest earners to pay more to fund a smaller-scale expansion of government than those proposed by other leading Democrats.
 Like Reply
Sundance Gets Real, With a Lineup of Newsy Films for 202023h Updated Sundance Gets Real, With a Lineup of Newsy Films for 2020
The 118 feature-length movies selected for the indie festival include Julianne Moore as Gloria Steinem and a documentary on Parkland survivors.
 Like Reply
Beware hiding places for Christmas gifts that can affect insurance claims24h Beware hiding places for Christmas gifts that can affect insurance claims
Many Christmas shoppers will be tempted to leave their presents under their tree but households should take care where they put their gifts this year as it could affect insurance claims.
 Like Reply
Young Sheldon, Meet SpongeBob: CBS and Viacom Are Back Together25h Updated Young Sheldon, Meet SpongeBob: CBS and Viacom Are Back Together
Shari Redstone gets her wish, bringing about the merger of two media giants in a $25 billion deal. The plan is to become a content arms dealer in the streaming wars.
 Like Reply
Fashion retailer Quiz reveals disappointing sales for six months to September26h Updated Fashion retailer Quiz reveals disappointing sales for six months to September
Not only was revenue from its stores down 11 per cent to £31.3m, but online revenue was flat at £20m. The fast-fashion company was hit with a £7m charge relating to the slipping value of its stores.
 Like Reply
Tycoons behind M&C Saatchi see £11m wiped off their fortunes26h Tycoons behind M&C Saatchi see £11m wiped off their fortunes
A brutal sell-off saw nearly half its value wiped out after it admitted 'adjustments' needed to its books now totalled £11.6m - almost double a previous estimate of £6.4m.
 Like Reply
MARKET REPORT: City toasts Stock Spirits after demand for its vodka in Poland helps to lift revenues26h MARKET REPORT: City toasts Stock Spirits after demand for its vodka in Poland helps to lift revenues
Its vodka is so popular there that the east European spirits maker will spend £21m expanding its Polish distillation plant over the next three years.
 Like Reply
Johnson reveals first 100 days plan with election a week away27h Johnson reveals first 100 days plan with election a week away
With just a week to the general election, Boris Johnson is already confidently - if not complacently - talking about his plans for the fist 100 days of a majority Tory government.
 Like Reply
Park It, Trucks: Here Come New York’s Cargo Bikes27h Updated Park It, Trucks: Here Come New York’s Cargo Bikes
New York will allow Amazon, DHL and UPS to park cargo bikes in commercial loading zones as a way to get some trucks off the city’s gridlocked streets.
 Like Reply
Warren Takes Aim at Bank Mergers, a Sign of Her Presidential Intentions27h Updated Warren Takes Aim at Bank Mergers, a Sign of Her Presidential Intentions
Elizabeth Warren, a hopeful for the Democratic presidential nomination, has long been skeptical of Wall Street. If she wins the White House, it could spell stricter regulation.
 Like Reply
Fire Blight Spreads Northward, Threatening Apple Orchards28h Updated Fire Blight Spreads Northward, Threatening Apple Orchards
Growers in northern states are combating virulent outbreaks of a disease as seasons grow warmer, orchards have been reconfigured for higher yields and new varieties may be more vulnerable.
 Like Reply
Metro Bank boss to stand down after bruising year28h Metro Bank boss to stand down after bruising year
The boss of Metro Bank is to step down after a decade in the job following a turbulent year for the lender.
 Like Reply
Clintons secures rescue deal saving 2,500 jobs29h Clintons secures rescue deal saving 2,500 jobs
Up to 2,500 jobs have been safeguarded at Clintons after the greetings card chain was sold back to its existing owners as part of a rescue deal.
 Like Reply
How Huawei Lost the Heart of the Chinese Public29h Updated How Huawei Lost the Heart of the Chinese Public
When an executive wrote about her house arrest in Canada, an outcry about a former employee’s treatment arose on social media.
 Like Reply
Metro Bank chief to step down two months after chairman29h Metro Bank chief to step down two months after chairman
Craig Donaldson to leave this month after steering lender through ‘challenging period’ The Metro Bank’s chief executive is to step down only two months after the departure of the longtime chairman. Craig Donaldson, who has been in the role since the lender was founded in 2009, agreed to leave at the end of the month after leading it through a “challenging period” after the revelation of a
 Like Reply
The Quiet Return of Bruce Weber and Mario Testino30h The Quiet Return of Bruce Weber and Mario Testino
At least one photographer accused of abuse of power is working — for free.
 Like Reply
Report Detailing PG&E’s Failures Raises New Hurdles for Utility30h Report Detailing PG&E’s Failures Raises New Hurdles for Utility
A California commission’s findings in the state’s deadliest fire could make a path out of bankruptcy and probation much harder.
 Like Reply
End of an era as Google founders step down from parent company30h End of an era as Google founders step down from parent company
Larry Page and Sergey Brin have handed over control of Alphabet to Sundar Pichai Twenty-one years after founding Google in a messy garage in Menlo Park, California, Larry Page and Sergey Brin have stepped down from day-to-day management of the company to assume the role of “proud parents – offering advice and love, but not daily nagging!” Page and Brin’s
 Like Reply
Fears for commercial property investors as fund house M&G gates its flagship fund30h Updated Fears for commercial property investors as fund house M&G gates its flagship fund
Fund house M&G has suspended its £2.5billion Property Portfolioafter a rush of investors pulled out amid Brexit uncertainty.
 Like Reply
Sterling soars against dollar as traders bet on Johnson election win30h Sterling soars against dollar as traders bet on Johnson election win
Pound hits highest level since May as opinion polls give Tories 11% lead over Labour
 Like Reply
Peloton Ad Is Criticized as Sexist and Dystopian30h Updated Peloton Ad Is Criticized as Sexist and Dystopian
The 30-second ad, which features a man giving a woman a Peloton Bike for the holidays, inspired parodies on social media and comparisons to “Black Mirror.”
 Like Reply
30h Updated Clintons strikes deal to avoid pre-Christmas collapse
The greetings card chain will be sold back to its existing owners, saving 2,500 jobs.
 Like Reply
Older borrowers are steered away from cheaper mortgages and into expensive equity release30h Updated Older borrowers are steered away from cheaper mortgages and into expensive equity release
A whopping two out of three older borrowers who approach their lender or adviser for a mortgage end up taking a more expensive equity release deal.
 Like Reply
Card retailer Clintons seals rescue deal that saves 2,500 jobs30h Card retailer Clintons seals rescue deal that saves 2,500 jobs
Company out of administration after pre-agreed deal with the chain’s existing owners Clintons, the card retailer, has been bought out of administration in a deal that safeguards 2,500 jobs. The pre-agreed deal with the chain’s existing US owners comes after Clintons failed to win support from landlords for an insolvency procedure known as a company voluntary arrangement (CVA) under which it wanted to cut rents and close up to 66 stores.
 Like Reply
FTSE LIVE: Shares back in the red as trade tensions continue to rattle markets30h Updated FTSE LIVE: Shares back in the red as trade tensions continue to rattle markets
Shares are back in the red today as trade tensions continue to rattle markets. With the dispute between the US and China still unresolved, Donald Trump seems in no mood to back down.
 Like Reply
Rescued Cooperative Bank recognises customer union30h Rescued Cooperative Bank recognises customer union
Union’s 1,200 members committed to protecting bank’s ethical policies The Cooperative Bank has agreed to formally recognise a customer “union” which aims to protect the bank’s ethical policies now it is owned by hedge funds. The
 Like Reply
UK could drop plans to tax tech firms in rush to secure US trade deal30h UK could drop plans to tax tech firms in rush to secure US trade deal
Trade experts raise doubts about digital sales tax aimed at companies such as Google Boris Johnson’s plans for a multibillion-pound tax on tech companies such as Google and Facebook may be dropped in the post-Brexit rush to secure a trade deal with the US, trade experts have suggested. The prime minister said internet companies needed to make a “fairer contribution”, as he indicated on Tuesday he would push ahead with a digital sales tax, despite opposition within his cabinet and a US backlash against similar plans from the French government.
 Like Reply
HSBC overdraft rate to quadruple for some customers30h HSBC overdraft rate to quadruple for some customers
Eight million users will pay more for going into the red after FCA’s borrowing shakeup About 8 million HSBC customers are to have their overdraft rate doubled – and in some cases quadrupled – to 39.9% as it becomes the biggest UK bank so far to respond to tough new borrowing rules. Some customers – potentially running into the millions – will now pay more for going into the red as a result of the move, which comes after the Financial Conduct Authority
 Like Reply
Property fund suspended after investors rush for the exit31h Property fund suspended after investors rush for the exit
This time of the year often sees people looking back affectionately on the past.
 Like Reply
HSBC to introduce blanket overdraft rate of 39.9% next March for customers31h Updated HSBC to introduce blanket overdraft rate of 39.9% next March for customers
HSBC has announced that customers who dip into the red will be charged a flat 39.9 per cent interest rate from next March, with some bank account holders seeing their fees trebled under the changes.
 Like Reply
M&G suspends property fund amid Brexit uncertainty and retail crisis - business live32h Updated M&G suspends property fund amid Brexit uncertainty and retail crisis - business live
Rolling coverage of the latest economic and financial news, as UK asset manager surprisingly freezes a major property investment fund
 Like Reply
M&C Saatchi shares nosedive after fresh profit warning32h M&C Saatchi shares nosedive after fresh profit warning
Advertising agency M&C Saatchi has seen its shares crash after it issued its second profit warning in three months.
 Like Reply
Hospitals Sue Trump Over Price Disclosure Rule32h Hospitals Sue Trump Over Price Disclosure Rule
The administration wants to require hospitals to reveal the rates they privately negotiate with insurers for all sorts of procedures, amid the public outcry over surprise medical bills.
 Like Reply
China Uses DNA to Map Faces, With Help From the West32h Updated China Uses DNA to Map Faces, With Help From the West
Beijing’s pursuit of control over a Muslim ethnic group pushes the rules of science and raises questions about consent.
 Like Reply
M&G suspends £2.5bn property fund blaming retail crisis and Brexit32h M&G suspends £2.5bn property fund blaming retail crisis and Brexit
M&G Property Portfolio bans withdrawals after investors demand their money back One of the UK’s biggest property funds, which owns shopping centres across the country, has alarmed investors by banning withdrawals and blaming both Brexit and the retail downturn for its problems. The £2.5bn M&G Property Portfolio was suspended after “unusually high and sustained outflows” – demand from investors for their money back – prompted by “Brexit-related political uncertainty and ongoing structural shifts in the UK retail sector”.
 Like Reply
UK petrol prices fall for FOURTH month running33h UK petrol prices fall for FOURTH month running
Both unleaded and diesel prices fell on average by around half a penny in November. However, supermarkets have been blasted for trying to pass on savings using in-store spending deals.
 Like Reply
34h Updated Pound surges to two-year high against the euro
The pound is the highest against the dollar in seven months and the highest against the euro since May 2017.
 Like Reply
Pound hits seven-month high; trade deal hopes lift markets – business34h Updated Pound hits seven-month high; trade deal hopes lift markets – business
Rolling coverage of the latest economic and financial news
 Like Reply
Silicon Valley Learns Washington’s Language (and Vice Versa)34h Silicon Valley Learns Washington’s Language (and Vice Versa)
Big Tech’s presence in the capital is unmistakable, and its interests intersect with more and more issues, says David McCabe, a tech policy reporter.
 Like Reply
Services sector data adds to fears of further slump in UK economy34h Services sector data adds to fears of further slump in UK economy
Business survey suggests Brexit uncertainty deterring foreign firms from buying UK services Fears that the UK economy could record a second quarter of
 Like Reply
Edinburgh Woollen Mill cancels dividend as it eyes ailing rivals35h Edinburgh Woollen Mill cancels dividend as it eyes ailing rivals
Philip Day’s business, with £100m borrowing, wants to expand high street presence
 Like Reply
Pound hits seven-month high; trade deal hopes grow – business35h Updated Pound hits seven-month high; trade deal hopes grow – business
Rolling coverage of the latest economic and financial news
 Like Reply
35h Who is Sundar Pichai and what does Alphabet do?
The chief executive of Google is now in charge of its parent company Alphabet.
 Like Reply
DealBook: Google’s Founders to Step Aside, Ending an Era36h DealBook: Google’s Founders to Step Aside, Ending an Era
Larry Page and Sergey Brin will make way, with Sundar Pichai, who has run Google for several years, becoming C.E.O. of the parent company, Alphabet.
 Like Reply
M&C Saatchi shares plunge as accounting scandal deepens36h M&C Saatchi shares plunge as accounting scandal deepens
Advertising agency to take £11.6m hit as it issues second profit warning in three months M&C Saatchi’s share price has plunged by more than 40% after the advertising agency admitted its accounting scandal is much worse than previously thought and issued a second profit warning in less than three months. The embattled group, which has clients including O2 and Sky in the UK, said that after an external review by PricewaterhouseCoopers, it would be
 Like Reply
Six top tips for decorating your Christmas tree to make it Instagram worthy36h Updated Six top tips for decorating your Christmas tree to make it Instagram worthy
The 'Mary Berry of Christmas trees' who dresses them for the rich and famous reveals how to decorate yours no matter how big or small the budget.
 Like Reply
Clintons on brink of deal to salvage 2,500 jobs37h Clintons on brink of deal to salvage 2,500 jobs
The immediate future of Clintons, the UK's second-biggest independent greeting cards retailer, is being salvaged through a restructuring that will keep its stores trading during the crucial Christmas period.
 Like Reply
CBI kicks off hunt for Fairbairn successor 37h CBI kicks off hunt for Fairbairn successor
Britain’s biggest business lobbying group is kicking off the search for its next chief, days before a general election that is likely to have profound implications for the country’s economic future.
 Like Reply
Rear sliding door SMASHES OFF VW family MPV in latest Euro NCAP crash tests37h Updated Rear sliding door SMASHES OFF VW family MPV in latest Euro NCAP crash tests
When collided with a pole in a side impact test, video footage shows how the rear passenger door of the seven-seat VW Sharan, which costs almost £30k, comes away from the vehicle structure.
 Like Reply
Opodo flies in face of angry travellers as complaints mount37h Opodo flies in face of angry travellers as complaints mount
The common theme is that flights or reservations don’t exist, and that refunds are hard to come by
 Like Reply
38h Updated Conservatives pledge £4.2bn for trains, buses and trams
The party promises new spending on trains, buses and trams outside London.
 Like Reply
As the Help-to-Buy Isa closes, experts warn about alternative Lifetime Isas38h Updated As the Help-to-Buy Isa closes, experts warn about alternative Lifetime Isas
There is now just one savings scheme offering first-time homebuyers a lucrative tax-free bonus: the Lifetime Isa, or 'Lisa'. So far, the deal has failed to prove all that popular with hopeful homeowners.
 Like Reply
Pound hits seven-month high as Trump trade war weighs on dollar38h Pound hits seven-month high as Trump trade war weighs on dollar
The pound hit a seven-month high against the dollar on Wednesday morning as US currency continued to weaken on fears of an escalated trade war.
 Like Reply
VICTORIA BISCHOFF: Google must eradicate the rip-off copycat sites38h Updated VICTORIA BISCHOFF: Google must eradicate the rip-off copycat sites
How is it possible that copycat websites continue to plague the internet? For years we have exposed how these sites trick victims into paying large fees for services they can get for free.
 Like Reply
The French Fries Are Doing Just Fine38h The French Fries Are Doing Just Fine
After a weak harvest for many potato farmers in the United States and Canada, there were concerns about shortages of the fast food staple. But supplies aren’t likely to run out anytime soon.
 Like Reply
Podcasts and Travel Apps? Facebook Is Working on Those38h Podcasts and Travel Apps? Facebook Is Working on Those
The social network is exploring new product areas through a team dedicated to building the company’s future.
 Like Reply
Men Say They Want Paid Leave but Then Don’t Use All of It. What Stops Them?38h Men Say They Want Paid Leave but Then Don’t Use All of It. What Stops Them?
When balancing work and family becomes difficult, women tend to resort to caregiving and men to earning money.
 Like Reply
This Woman Wants to Help Regulate Your Period With Food38h This Woman Wants to Help Regulate Your Period With Food
Can dietary and lifestyle changes help women dealing with complex and confounding hormonal issues? Alisa Vitti thinks so.
 Like Reply
Blunders of peer-to-peer lender Funding Secure shock administrator38h Updated Blunders of peer-to-peer lender Funding Secure shock administrator
Funding Secure was a peer-to-peer lender which matched 3,500 investors who wanted to lend money to businesses. Borrowers were asked to pledge valuable assets as security against the loan.
 Like Reply
39h Johnson backs tech tax despite Trump retaliation risk
The prime minister set out his plan just hours after the US warned France of import tariffs.
 Like Reply
How getting sloshed on the slopes could cost you an arm and a leg! 39h Updated How getting sloshed on the slopes could cost you an arm and a leg! 
Over the past five years, around 3.8 million holidaymakers have injured themselves on the slopes as a result of consuming alcohol. Some 1.3 million of them ended up with broken limbs.
 Like Reply
Crux hopes relabelling fund will emphasise dependability as provider of capital and income return39h Updated Crux hopes relabelling fund will emphasise dependability as provider of capital and income return
The fund, Crux UK, to be renamed Crux UK Core, run by Jamie Ward, certainly has a solid performance record. Ward currently invests in only 26 companies.
 Like Reply
Banks continue to cut rates over Christmas amid continued mortgage price war39h Updated Banks continue to cut rates over Christmas amid continued mortgage price war
Loyal savers with Virgin Money are urged to move their cash after the bank joined the growing list of providers dishing out rate cuts to savers. Interest rates will drop by as much as 0.8 percentage points.
 Like Reply
Octopus boss encourages his own staff to quit and launch start-ups39h Updated Octopus boss encourages his own staff to quit and launch start-ups
Octopus Group's chief executive Simon Rogerson, discusses the 'Octopus Springboard' - a recently launched initiative helping employees to become fully-fledged entrepreneurs.
 Like Reply
ALEX BRUMMER: The Treasury needs to rethink the role of the FCA39h Updated ALEX BRUMMER: The Treasury needs to rethink the role of the FCA
Peer-to-peer lending was one of those new-fangled ideas which emerged from the wreckage of the financial crisis. The internet offered tech-savvy entrepreneurs the chance to earn decent returns.
 Like Reply
Black Friday boosts John Lewis to its best ever week of sales39h Updated Black Friday boosts John Lewis to its best ever week of sales
John Lewis said high-end fragrances, Barbour clothing (pictured) and Joie Spin car seat were some of the weekend's best-sellers. Apple Airpods and gin glasses sold well too.
 Like Reply
How much you REALLY need to save for the retirement of your dreams 39h Updated How much you REALLY need to save for the retirement of your dreams 
Many Britons are sleepwalking towards a nasty surprise, with most of us failing to save enough for a proper pension. So what can you do to make sure you don't outlive your pension?
 Like Reply
Fashion brand Quiz makes £6.8m loss amid high street sales slump39h Fashion brand Quiz makes £6.8m loss amid high street sales slump
Retailer warns of further store closures after reporting year-on-year UK sales decline of 11% The fashion brand Quiz has made a £6.8m loss after sales fell across its high street store chain and concessions, forcing the retailer to warn of more store closures. Quiz, which operates 246 UK stores and concessions, reported a year-on-year sales slump of 11% across its UK retail estate in the six months to the end of September. The share price of Quiz, which reported a £3.8m profit in the same period last year, slumped by 16% in early trading.
 Like Reply
39h Updated Google founders Larry Page and Sergey Brin step back from top roles
Larry Page and Sergey Brin are stepping back from the day-to-day running of Google's parent company.
 Like Reply
Not a merry Christmas for savers... Banks cut rates all round39h Updated Not a merry Christmas for savers... Banks cut rates all round
Loyal savers with Virgin Money are urged to move their cash after the bank joined the growing list of providers dishing out rate cuts to savers. Interest rates will drop by as much as 0.8 percentage points.
 Like Reply
Fast fashion brand Quiz sees brakes applied to store sales40h Fast fashion brand Quiz sees brakes applied to store sales
Quiz, the fast fashion retailer, has reported a plunge in sales and profits as it navigates the crisis facing the UK high street.
 Like Reply
How Boris Johnson and Brexit are Berlusconifying Britain | William Davies42h How Boris Johnson and Brexit are Berlusconifying Britain | William Davies
The divisions between politics, the media and business have dissolved, eroding integrity. It’s not bad news for everyoneIf this election campaign has a distinctive mood, it is a mix of bewilderment, outrage and exhaustion. The public sphere has been engulfed by a war of attrition in which every poll number, media statement or policy announcement must be treated with suspicion. What is it concealing? Who paid for it? What is it distracting us from?
 Like Reply
Peloton Holiday Ad Criticized as Sexist42h Updated Peloton Holiday Ad Criticized as Sexist
The 30-second ad, which features a man giving a woman a Peloton Bike for the holidays, inspired parodies on social media and comparisons to “Black Mirror.”
 Like Reply
Markets in tailspin amid fears US-China trade deal is in peril42h Markets in tailspin amid fears US-China trade deal is in peril
Asian markets plunge after Trump comments about trade deal delay made worse by possible Xinjiang sanctions Global financial markets have gone into a tailspin amid mounting concern that the US and China are not going to conclude an interim trade agreement before a new set of American tariffs hit Chinese goods on 15 December. Asian markets saw heavy selling on Wednesday after
 Like Reply
Trump Inflames the Trade Wars, Again43h Updated Trump Inflames the Trade Wars, Again
In a series of moves and comments, the president has stirred new turmoil into financial markets and the global economy.
 Like Reply
On the top

Date settings

Today is Thursday, December 5, 2019

+ 1 -
+ 1 -
+ 2016 -

Close

By using our website, you agree to the use of cookies as described in our cookie policy.

Accept