Business

Trump 'ready' to tax all Chinese imports

Image copyright Getty Images US President Donald Trump says he is ready to intensify his trade war with China by slapping tariffs on all $500bn of imports from the country. “I’m ready to go to 500,” he said in an interview with the CNBC channel. Mr Trump’s comments come before the most recent round of […]

Business

Holidaymakers hit as pound falls

Image copyright Getty Images Britons heading abroad at the start of the summer are being hit by the poorest exchange rates for almost nine months. On Friday, the Moneycorp bureau at Stansted airport was offering just €0.89 for each pound on Friday, one of the lowest rates ever seen. Holidaymakers heading to the US were […]

Business

Comcast likely to be new owner of Sky

Image copyright Getty Images Image caption Rupert Murdoch had been trying to take full control of Sky Comcast is likely to be the new owner of Sky, BBC Business Editor Simon Jack has learned. It means that Rupert Murdoch’s 21st Century Fox has failed in its bid to take full control of Sky. Instead, Disney […]

Business

Poundworld to disappear from the High Street

Poundworld has announced the closure of its remaining 190 stores with the loss of 2,339 jobs. The discount goods retailer, which went into administration in June, said the stores would close by 10 August. In total the collapse of the chain, which had 335 stores, will result in the loss of 5,100 jobs. Administrators, Deloitte, […]

Business

Royal Mail hit by shareholder revolt over bosses' pay

Image copyright Getty Images Royal Mail shareholders have rebelled against its pay plans for top executives following a row over a salary rise for its new boss. The directors’ remuneration report was rejected by about 70% of shareholders in a vote, which is non-binding, at Royal Mail’s annual meeting. New chief executive Rico Back is […]

Business

Gaucho closes Cau chain and cuts 540 jobs

Image copyright EPA The Gaucho restaurant group is closing down its Cau chain at the cost of 540 jobs. Accountancy firm Deloitte has been appointed as the administrator to the specialist steak group. It said all 22 branches of Cau would close to allow the group to focus on selling the Gaucho chain. Deloitte described […]

Business

Two former traders jailed in Euribor rate-rigging case

Image copyright Getty Images Two former traders have been jailed for plotting to rig the Euribor global interest rate. Former Deutsche Bank employee Christian Bittar, 46, was sentenced to five years and four months at Southwark Crown Court on Thursday. Philippe Moryoussef, 50, a former Barclays trader, was sentenced to eight years after a jury […]

Business

Pound drops below $1.30 as June retail sales fall

Image copyright Getty Images The pound has fallen under $1.30 after a surprise fall in retail sales in June, confounding expectations of an increase. The Office for National Statistics said sales fell by 0.5% last month compared with May – below forecasts of a 0.2% rise. While the World Cup and hot weather helped food […]