Business

Goldman Sachs names DJ-ing banker David Solomon as boss

Image copyright Getty Images Image caption David Solomon with rapper Sean ‘Diddy’ Combs Investment bank Goldman Sachs has confirmed that its next chief executive will be David Solomon, currently its chief operating officer. He will take over from Lloyd Blankfein, who is stepping down after 12 years in the post. That news came on the […]

Business

Debenhams denies cash crunch problem

Image copyright Getty Images Debenhams has said its cash position is “healthy” after reports some insurers have reduced cover for its suppliers. The Sunday Times said the retailer was facing “a cash crunch” because some credit insurers had tightened their terms for Debenhams suppliers. The department store said its relationship with credit insurers was “constructive” […]

Business

No affordable homes?

Image caption Keith Jenkin (centre) his wife Lorna and friends decided to help build socially affordable housing in Lyme Regis More funding is now being made available for community groups who want to develop and protect affordable housing in their local area. The government’s £60m Community Housing Fund was originally launched in 2016 and designed […]

Business

Poundworld to close another 80 stores

Image copyright PA Another 80 Poundworld stores will be closed, resulting in 1,024 job losses, the company’s administrators have said. The latest announcement means that 105 of the company’s 335 stores are now earmarked for closure. Poundworld went into administration last month after failing to cope with rising costs, fewer shoppers and greater competition. The […]

Business

Murdoch's Fox cleared for Sky takeover bid

Image copyright Getty Images The UK government has cleared a proposed deal for Rupert Murdoch’s 21st Century Fox to buy Sky. The British broadcaster has been the subject of a fierce bidding war between Fox and US cable giant Comcast. Comcast’s bid has already been cleared, and Culture Secretary Jeremy Wright said Fox can go […]

Business

Poundworld to close 25 stores costing 242 jobs

Image copyright Reuters Poundworld, the struggling discount retailer, will close 25 stores, resulting in 242 job losses, administrators said. The stores named for closure will operate until 15 July, according to a memo sent to Poundworld staff. “The administrators have been preparing contingency plans in the event that we are not able to deliver a […]

Business

Nissan admits falsifying emissions tests in Japan

Image copyright Getty Images Nissan has admitted that it has uncovered falsified data from car exhaust emissions tests at most of its Japanese factories. The firm did not disclose how many cars were involved, but said emissions and fuel economy tests had “deviated from the prescribed testing environment”. The carmaker added that inspection reports had […]

Business

Airport parking is extortionate, says RAC

Image caption Stansted has some of the highest charges for dropping off passengers Anyone taking friends or relatives to the airport this summer – or picking them up – is likely to be shocked by the cost of parking, says the RAC. It claims more than half of the UK’s airports have increased their charges […]

Business

From podium to boardroom

Image copyright Getty Images Image caption Coulthard won 13 Grands Prix in a Formula One racing career lasting 14 years Two-time British Grand Prix winner David Coulthard swapped the high-powered world of Formula 1 for a new career path a decade ago, but he is still putting the skills that racing taught him to good […]

Business

Brexit: May bids to unite cabinet behind plan

Media playback is unsupported on your device Media captionChequers and Brexit – what’s going on at the country retreat? Cabinet ministers have gathered at Chequers in a bid to thrash out an agreement on the shape of the UK’s future relationship with the EU. Theresa May has said they have “a duty” to reach agreement […]