Business

Fresh crackdown on nuisance calls

Image copyright Getty Images People being harassed by cold calls about PPI compensation or personal injury claims could gain some respite under new rules being introduced by the government. The new measures mean companies will only be allowed to contact people who have opted-in to receive the calls. Claims management companies that break the rules […]

Business

Tesla shares sink after key executives exit

Image copyright Reuters Tesla shares have fallen sharply after two senior executives abruptly left the electric car firm headed by Elon Musk. The chief accounting officer has left less than a month after joining, while its HR officer is also reported to have resigned a year after joining. The resignations came just hours after the […]

Business

Asda ends shoppers' price guarantee scheme

Image copyright Reuters Supermarket giant Asda is to end a scheme which refunded shoppers if the items they bought cost more than in rival stores. The Asda Price Guarantee was launched in 2010, promising a basket of shopping at the chain would be 10% cheaper than at the UK’s other large grocery chains. If not, […]

Business

Pound rises on Brexit 'progress' report

Image copyright Getty Images The pound has gained strongly against both the dollar and the euro following reports that the UK and Germany have made progress towards a Brexit deal. Sterling rose nearly 1% against the US currency and 0.5% against the euro after the reports on Bloomberg News. However, the pound later gave up […]

Business

Amazon's market value tops $1tn

Image copyright Getty Images Amazon has briefly become the second US-listed firm to have a market value of more than $1 trillion (£779bn). Shares in the e-commerce giant rose nearly 2% to a high of $2,050.50 in morning trade before slipping back. Apple reached the same milestone in early August. Founded in 1994, Amazon is […]

Business

Deportation process 'is racism' says ex-UBS trader

Former trader Kweku Adoboli says the deportation process he is facing “is racism”. He is set to be deported to Ghana after serving four years of a seven-year sentence for fraud. Foreign nationals sentenced to more than four years in jail are automatically considered for deportation. Mr Adoboli was convicted of a £1.4bn fraud at […]

Business

Brexit deal: Fox refuses to back Hammond's warning

Image copyright PA/BBC Image caption Philip Hammond was a Remain supporter in the EU referendum, while Liam Fox is an ardent Brexiteer International Trade Secretary Liam Fox has refused to back Chancellor Philip Hammond’s warning that a “no-deal” Brexit could damage the economy. Speaking on the BBC’s Andrew Marr show, he said: “This idea that […]

Business

Bitcoin wallet Bitfi withdraws 'unhackable' claim

Image copyright Getty Images Bitfi, a cryptocurrency wallet backed by anti-virus software entrepreneur John McAfee, has issued a statement saying it will no longer describe its service as “unhackable”. The announcement followed the release of evidence by a group of security researchers showing the wallet being compromised. However, Mr McAfee maintains that the claim stands. […]

Business

Wonga collapses into administration

Image copyright Alamy Payday lender Wonga has announced its intention to go into administration after losing its battle to stay afloat. The company said in a statement that it had assessed all options and had decided that administration was the appropriate route. It had already stopped accepting new loan applications as it fought to stave […]

Business

Venezuela seizes Smurfit Kappa plant

Image copyright Mike Ellis / Smurfit Kappa The Venezuelan government has seized control of a plant belonging to Smurfit Kappa, the Irish packaging company has confirmed. On 21 August, the plant was seized and two managers were arrested. Venezuela claims that Smurfit Kappa engaged in price speculation, smuggling and refusing to sell to local businesses. […]