Friday, March 31, 2023

Lazarus Heist: The intercontinental ATM theft that netted $14m in two hours

How criminals seemingly working for North Korea were able to plunder cashpoints in 28 countries.

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Large ethnicity gap in real living wage, report finds

Almost a third of Pakistani or Bangladeshi workers in London are on low pay, a new report finds.

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Amazon workers in Coventry announce six more strike dates

Union members in Coventry say they will take action on six dates in April in a continuing pay row.

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Google faces new multi-billion advertising lawsuit

The case seeks £3.4bn in compensation for publishers from the search giant.

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Thursday, March 30, 2023

Heathrow strikes to go ahead for 10 days over Easter break

Last-ditch talks between Heathrow Airport and the Unite union representing security guards break down.

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Spice sales boom as home cooks get more adventurous

The global spices sector is thriving as the pandemic is said to have made people try more recipes.

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CPTPP: UK set to join Asia's trade club but what is it?

It may sound like an official has leant on their keyboard - but it's an acronym we'll hear more often.

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Probe into meat 'falsely labelled' as British at supermarkets

The Food Standards Agency has launched an investigation into allegations a supplier mislabelled meat.

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Premier League clubs avoided £250m in tax, expert estimate

It follows analysis of football agents being paid to represent both players and clubs in transfers.

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London Stansted Airport: The race against time to resurface a runway

Engineers are halfway through a five-month project to lay about 65,000 tonnes of asphalt.

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Wednesday, March 29, 2023

Dermalogica founder shares her business advice

Jane Wurwand, who co-founded the skincare brand Dermalogica, shares her advice for our CEO Secrets series.

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Starbucks' Howard Schultz denies union busting

Democrats called the denials by former Starbucks chief Howard Schultz "not ...believable".

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Renting: 'We were kicked out because we complained'

Renters tell the BBC how they have been evicted for complaining about the state of their homes.

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Mortgage lending hits lowest since 2016 excluding pandemic

Borrowing falls sharply as rates rise but more mortgage applications are approved, says Bank of England

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Tuesday, March 28, 2023

AI could replace equivalent of 300 million jobs - report

ChatGPT-style AI will have a large impact but new jobs could emerge, a Goldman Sachs report says.

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Retailer Next buys Cath Kidston in £8.5m deal

The deal does not include its four shops, and administrators warn there will be redundancies.

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Sam Bankman-Fried accused of Chinese bribe

New charges in the US accuse the former FTX founder of paying at least $40m to access frozen accounts.

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Gary Lineker wins appeal over £4.9m tax bill

The sports presenter's dispute with HMRC centred on whether he was a freelancer or an employee.

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Royal Mail talks over pay on brink of collapse

A source says continuing strike action could mean Royal Mail is put into administration.

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Bank of England on heightened alert for further banking turmoil

Bank of England says it remains vigilant after US bank collapses spark fears over financial stability.

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Monday, March 27, 2023

NFT: Plans for Royal Mint produced token dropped by government

Plans for a government-backed digital token, ordered to be created by Rishi Sunak, have been axed.

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Civil servants to strike in April

The PCS union said 130,000 members voted to strike on 28 April in a continued row over pay, pensions and job security.

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Binance accused of breaking US financial laws

The move comes as US regulators ramp up their regulation of the cryptocurrency industry.

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Heathrow strike forces BA Easter flight cancellations

The move is due to a planned 10-day strike by some Heathrow security workers in the Unite union.

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Outrage at public contract for firm behind P&O sackings

It comes after DP World is chosen to run a new freeport, despite having sacked 800 workers without notice last year.

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British Gas,Scottish Power and Ovo dominate forced installations

British Gas, Scottish Power and Ovo Energy made up 70% of all forced installations last year, the government says.

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Jack Ma: Alibaba founder seen in China after long absence

The 58-year-old reportedly visited a school that he founded in his hometown of Hangzhou.

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Sunday, March 26, 2023

Silicon Valley Bank: Collapsed US lender bought by rival

The collapsed lender was seized by US regulators after a run on the bank.

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Elon Musk: Twitter says parts of source code leaked online

Elon Musk has also reportedly indicated Twitter is now worth less than half the amount he paid for it.

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Cost of living: What are your rights as a tenant when you're renting?

With one in five people now renting in the UK, it's important to understand your rights as a tenant.

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John Lewis: Ex-boss says changing ownership model would be a tragedy

Andy Street says the department store chain should not change its staff ownership structure.

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Ovo launches energy deal below government price cap

The supplier launches 12-month tariff of £2,275, as falling gas prices finally start feeding through to bills.

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Cardiff: Howells, the store known for its window displays, food halls and ghosts

As the department store closes its doors, people share their memories of working there.

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Saturday, March 25, 2023

Energy firms call for windfall tax to fall with prices

It comes ahead of a package of measures on energy security, which the BBC understands will be announced on Thursday.

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Cost of living: Women feel trust was 'violated' on housing app

Women feel they are being forced to risk their safety when house hunting due to financial pressures.

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Friday, March 24, 2023

John Lewis: Mary Portas warns retailer it has 'let go' of its soul

In an open letter the retail consultant says the store is "part of our collective cultural identity".

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Banks shares hit as investor nerves return

Worries over the financial strength of the sector persist, with Deutsche Bank shares down 13%.

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UK retail sales boosted by second-hand and discount stores

Retail sales rose strongly last month as cash-strapped shoppers looked for cheaper options.

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Thursday, March 23, 2023

Bank warns interest rates will rise again if firms hike prices

The Bank of England boss urges firms to avoid price rises that fuel inflation and hurt the least well off.

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TikTok CEO Shou Zi Chew's Congress showdown: Five key moments

Tech executives don't get an easy ride before Congress, but Shou Zi Chew's hearing was exceptionally bruising.

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Do Kwon: Fugitive crypto mogul believed caught in Montenegro

Police believe they have arrested Do Kwon, the crypto boss accused of a multibillion-dollar fraud.

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Jack Dorsey business target of Hindenburg report

Jack Dorsey's Block sees shares drop after famed short-seller Hindenburg levels claims.

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Wednesday, March 22, 2023

Evergrande: Crisis-hit Chinese property giant offers debt restructuring plan

It will only account for less than 10% of China's former top-selling developer's $300bn debt.

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Shou Zi Chew: Who is the TikTok CEO?

The 40-year-old is facing questioning from US lawmakers amid growing suspicion of the Chinese app.

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Third of flights delayed in 2022

Fewer UK flights were on time last year than before the pandemic, says aviation regulator.

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US raises interest rates despite banking turmoil

The Federal Reserve moves borrowing costs higher as it focuses on efforts to stabilise prices.

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Amazon increases starting pay for UK workers again

The online giant follows other firms in raising pay amid a labour shortage and strikes across the UK.

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Does the UK have an inflation problem?

February's shock rise in inflation figure means the UK now has the highest rate among major economies.

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Tuesday, March 21, 2023

Bill Gates: AI is most important tech advance in decades

The former Microsoft boss says AI is the second revolutionary technology he's seen in his lifetime.

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Stocks rebound as US and UK seek to calm investors

Markets higher after UK and US again seek to calm investor fears over banks' stability.

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The US interest rate decision the world is watching

Can the Federal Reserve continue to raise interest rates in the middle of a banking panic?

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Just Eat: Takeaway firm to cut 1,900 jobs in UK

The delivery giant is restructuring its business after a slowdown in takeaway sales.

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Great British Railways: Derby chosen as location for new rail HQ

The new body will procure passenger services and set most fares and timetables.

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Tesco to cut the value of Clubcard rewards scheme

The supermarket says vouchers will be worth a third less from 14 June.

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Monday, March 20, 2023

Strike averted as Royal College of Nursing members accept pay offer

The Royal College of Nursing says its members voted to accept the deal by a narrow majority.

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Businessman blames minister for Kinloch Castle sale collapse

Millionaire Jeremy Hosking has withdrawn his plan to buy Isle of Rum's state-owned Kinloch Castle.

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Sri Lanka: $2.9bn IMF bailout for struggling economy

The deal is a lifeline for the country which is facing its worst economic crisis in over 70 years.

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Amazon to cut another 9,000 jobs

The online retail giant said the positions would be closed "in the next few weeks".

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Rishi Sunak says UK banks safe as investors remain wary

Shares in European banks are volatile after Credit Suisse's emergency rescue and fears of a wider crisis.

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Avanti West Coast contract extended by six months

Avanti West Coast, which was criticised over reliability, has made improvements, the government says.

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Sunday, March 19, 2023

UK wages failing to keep up with costs - Resolution Foundation

Fifteen years of stalling wage growth has left British workers worse off, new analysis suggests.

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Central banks to boost flow of US dollars amid market unease

Six central banks move to keep credit flowing worldwide after two big institutions collapsed.

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UBS agrees to rescue deal for troubled bank Credit Suisse

The deal, backed by the Swiss government, follows weekend-long talks aimed at preventing the bank's collapse.

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John Lewis considers plan to change staff-owned structure

The chain's famous staff-ownership structure could be watered down to raise new funds.

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William Hill: Gambling addict says bookmaker didn't help him stop

A teacher says William Hill should have done more to stop him betting when he was staking thousands.

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Saturday, March 18, 2023

Credit Suisse bank: UBS said to be in takeover talks with troubled rival

Emergency talks are reported in Zurich as regulators seek a deal for Credit Suisse before Monday.

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Friday, March 17, 2023

Disruption for train passengers as rail strikes continue

RMT members at 14 train operators are walking out, leaving some areas of the UK with no services.

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Fraud victim gets surprise £153,000 refund despite rules

A victim who was targeted and groomed by criminals, was helped by Radio 4's Money Box programme.

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Aldi gives staff a further pay bump

The supermarket group has raised its national hourly wage to £11.40 and £12.85 for Greater London.

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Stock markets rally as Wall Street swoops to rescue First Republic

Asia markets rise as US bank giants pump money into First Republic, easing fears of a banking crisis.

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Thursday, March 16, 2023

UK tourism: Visitor attractions suffering long Covid - industry body

Visitor figures are 23% down on pre-pandemic levels, despite millions returning in 2022.

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Passport office workers to strike for five weeks over pay dispute

The strike action will have a "significant impact" on deliveries of passports as summer approaches.

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What China’s baby woes mean for its economic ambitions

The country's ageing population and shrinking workforce are a threat to its economic growth.

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Ryan Reynolds' Mint Mobile sale to T-Mobile earns actor over $300m

He is forecast to earn $300m from a telecom sale, cementing his status as a Hollywood business icon.

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Wednesday, March 15, 2023

Builders added to UK skills shortage list

Construction workers are added to list but hospitality sector not included in government review.

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Cigarette prices rise but draught beer duty is frozen

Duty for draught pints is frozen but the average price of a pack of 20 cigarettes rises to £14.39.

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Childcare, energy, pints: Three ways the Budget could affect you

The BBC's Vishala Sri-Pathma breaks down how the government's spending plans might impact your pocket.

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Corporation tax: Jeremy Hunt confirms rise to 25% from April

The chancellor confirms corporation tax will go up but opposition is expected from some Tory MPs.

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UK economy to do better than expected, says Hunt

The economy will shrink this year but avoid a recession, the government's independent forecaster says.

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Stock markets hit again by banking worries

Shares in European banks fall as investors remain nervous after the collapse of Silicon Valley Bank.

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Tuesday, March 14, 2023

HS2 delay will lift costs and cut jobs, says Labour

Shadow Transport Secretary Louise Haigh claims leaked documents show firms could go bust.

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Budget 2023: Why more parents face losing child benefit

Thresholds being left unchanged for at least 10 years means many more people are being affected by government policies.

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Monday, March 13, 2023

US court rules Uber and Lyft workers are contractors

Labour groups had opposed contractor status, saying it robbed them of rights like sick leave.

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Has social media killed the famous advert?

Advertising veteran Sir John Hegarty explains why it is hard to make hit adverts in a digital world.

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Shark Tank India: How a start-up in Kashmir is inspiring thousands

FastBeetle's success on Shark Tank India is motivating youngsters in the region to dream big.

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Vinyl records outsell CDs for first time in decades

Streaming may be king, but fans of physical albums are weighing in with record sales growth

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Silicon Valley Bank: Shares fall as fears persist about failed US bank

Stock markets drop despite efforts to limit the fallout from Silicon Valley Bank's collapse.

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Masatoshi Ito, billionaire who made 7-Eleven a global giant, dies at 98

Masatoshi Iso's company brought 7-Eleven to Japan - where a quarter of stores are now located.

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Inflation: Alcopops out and frozen berries in of cost of living measure

Healthier shopping habits are reflected in the basket of goods used to calculate rising prices.

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HSBC to buy UK arm of Silicon Valley Bank

The sale of the UK arm of SVB to HSBC will come as a relief for many UK tech companies.

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Sunday, March 12, 2023

UK firms await government help after US bank collapse

The government is expected to announce support for companies after Silicon Valley Bank went bust.

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TikTok users shrug at China fears: 'It's hard to care'

Political outcry about TikTok national security risks has made little dent among users.

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Silicon Valley Bank: Is the UK right to bail out tech firms?

There are questions over how far government should go to cover losses from Silicon Valley Bank collapse.

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Strikes Update: How Monday 13 March junior doctors' strike will affect you

What you need to know about the junior doctors' strike by the BBC's Zoe Conway.

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Spring Budget: Prepayment energy meter bills to be cut by £45

The government is set to reduce prepayment energy bills for more than four million households.

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Aramco: Saudi state-owned oil giant sees record profit of $161bn

After a year when petrol prices soared, the Saudi firm announces a best-ever set of figures.

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UK to help tech firms after Silicon Valley Bank collapse

Tech firms caught up in bank collapse will have cashflow needs met, the government says.

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Saturday, March 11, 2023

Budget 2023: Universal credit claimants to get more childcare cost help

The announcement in next week's Budget is part of government plans to encourage people back to work.

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Friday, March 10, 2023

Jeremy Hunt: Why the chancellor wants this Budget to be boring

The main aim of Wednesday's Budget will be to keep the economy and household finances stable.

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Booths is retailer embroiled in fake British beef case

Products were labelled as British, when they were sourced from South America and Europe instead.

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Tesco to charge suppliers extra to sell online

The supermarket says a new "fulfilment fee" is needed to cover costs of selling to more online customers.

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Energy bills: Prepayment meter experiences sought in review

Accounts submitted via a Citizens Advice website should be "candid and frank", the energy regulator says.

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G4S: Fraud trial against former executives dropped

The three men, who worked in the company's care and justice business, were due to face trial next year.

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Thursday, March 9, 2023

Boots loyalty points value reduced

Customers will receive 3 pence worth of loyalty points for every £1 spent, down from 4 pence.

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Ex-Goldman Sachs Malaysia boss gets 10 years for 1MDB scheme

The bank's ex-Malaysia head was found guilty last year in one of the world's biggest financial scandals.

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Asda lifts limits on some fresh produce

Many supermarkets put restrictions on sales of some fresh produce amidst supply shortages.

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Food fraud probe into beef falsely labelled as British

A supplier is under investigation after pre-packed meat was found to be from South America and Europe.

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Extended life for two UK nuclear power stations

Heysham 1 and Hartlepool had been due to close in March next year, but will now stay open until early 2026.

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BMW invests in Oxford plant as plans more electric Minis

The firm is set to invest up to £600m to prepare the plant for a future building electric models.

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Wednesday, March 8, 2023

Childcare: Full-time nursery for under-twos nearly £15k a year, says report

Costs rise by 5.9% in a year in Great Britain while availability drops, a report finds.

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US-China chip war: Netherlands moves to restrict some exports

The measures will affect Dutch firm ASML, which is a key part of the global microchip supply chain.

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Cost of living: What do I do if I can't afford to pay my debts?

What help and options are available to people struggling with debt repayments?

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Bao Fan: Why do Chinese billionaires keep vanishing?

The mystery over the latest missing business leader comes as Xi Jinping tightens his grip on China.

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Adidas may sell Yeezy trainers and donate proceeds

Adidas is mulling what to do with Yeezy products after ending its deal with Kanye West, known as Ye.

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Frankie and Benny's owner to close 35 more restaurants

The firm, which also owns Chiquito, says it is closing sites due to rising costs.

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Tuesday, March 7, 2023

RMT members suspend strike action at Network Rail

Despite RMT members calling off their strike, disruption will continue as other unions continue walkouts.

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US interest rates could go higher than expected

US stock markets fell following the remarks, which come ahead of another rate announcement.

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State pension: Deadline extended for National Insurance top-ups

People now have until the end of July to plug gaps in their National Insurance record from 2006 to 2016.

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Coal power plants in use again ahead of cold snap

Two coal-fired power stations have begun making electricity again to keep up with demand during the cold weather.

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Greggs to open 150 shops and extend opening hours

The move comes after the bakery chain posted bumper sales for last year, but also put up prices.

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Struggling renters must move further out of London, says Foxtons boss

The boss of London's biggest estate agency says a lack of available properties is driving people further out.

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Monday, March 6, 2023

Firefighters will not strike after accepting new pay offer

Fire Brigades Union members vote to accept backdated 7% pay rise, with a further 5% increase in July.

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TransPennine Express and Avanti West Coast criticised by leaders

Political leaders are meeting in Newcastle to discuss ongoing issues with trains in the North.

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CBI boss Tony Danker steps down after misconduct allegations

Tony Danker said he was "mortified" to hear that he had caused "offence or anxiety to any colleague".

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Talks to avoid more rail strikes on brink of failure

Union members and rail bosses are negotiating ahead of more strikes on Thursday.

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Starbucks to open 100 new UK stores this year

The coffee giant's expansion comes after a big jump in UK sales in 2022.

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Cost of living: 'I skip university lectures to do paid work instead'

Heidi is one of many students who say the rising cost of living is affecting their studies.

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Sunday, March 5, 2023

Toblerone: Swiss rules mean chocolate bar to drop Matterhorn from packaging

Production of some of the chocolate is moving outside Switzerland so the Alpine peak can no longer be used.

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Ambulance strikes: Unite union suspends action in England

The Unite union suspends strikes in England to enter pay talks, following the Unison and GMB unions.

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Scottish bakery Morton's Rolls 'ceases trading'

Companies House said it could strike off the bakery after it missed a deadline to file accounts.

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Food shortages due to 'supermarket culture', says Leon co-founder

Henry Dimbleby, co-founder of Leon, says UK vegetable shortages are a result of "market failure".

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Five ways to save money on train tickets

As rail fares increase, we find the ways passengers can keep journeys as cheap as possible.

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Saturday, March 4, 2023

King's Coronation: Pubs to stay open longer in England and Wales

People in England and Wales will get served for an extra two hours to mark King Charles III's coronation.

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Friday, March 3, 2023

Arm opts for New York stock listing in blow to London

The 'crown jewel' of the UK tech sector says it will only pursue a US listing this year.

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Budget 2023: What is it and when will it happen?

The government will reveal how much of our money it will take in taxes and what it will spend it on.

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Zoom boss Greg Tomb fired ‘without cause’

The video conferencing company abruptly terminates its president's contract.

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Money Diary: 'My DJ gigs bring in £3,000 a month'

Aaron, a 33-year-old DJ from east London, shares his weekly spending diary.

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Thursday, March 2, 2023

Ros Atkins on... The creeping TikTok bans

The app has been banned from employee phones by various governments amid security concerns.

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WH Smith staff data hit by cyber-attack

The High Street retailer says customer accounts and databases are not affected by the incident.

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Building giant set to switch share listing to US

CRH says it is considering moving its main share listing in a further blow to the UK stock market.

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Wednesday, March 1, 2023

Gautam Adani: India court sets up panel to probe Adani fraud allegations

The court has appointed a five-member panel to probe fraud allegations against the Adani Group.

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Starbucks illegally fired US workers over union, judge rules

The coffee chain was ordered to rehire the ex-workers and compensate others who were affected.

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Drugs giant Eli Lilly caps monthly insulin costs in US at $35

The cap on the diabetes medication by the drugs giant could bring cost relief to many Americans.

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Pret A Manger gives staff third pay rise in a year

The coffee chain follows other retailers in boosting pay amidst a labour shortage.

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Bank of England boss says UK interest rates may rise further

Andrew Bailey warns doing too little on interest rates now could mean doing more later on.

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BA-owner and EasyJet hold millions of unclaimed travel vouchers

BA owner IAG and EasyJet issued the vouchers instead of cash when flights were cancelled in the pandemic.

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Court bid to protect against ‘ghost landlords’ fails

Property owners welcome ruling that defines who a landlord is, but campaigners say it lets down tenants.

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UK-Canada trade rift: What it means for cheese, beef and cars

A pause in talks could mean tougher trading terms for the UK - but what will the impact be on consumers? from BBC News - Business https://...