Business

Wales' rail and Metro franchise to be run by KeolisAmey

Image copyright Keolis Image caption KeolisAmey already run the Docklands Light Railway in London A £5bn contract to run Wales’ rail service for the next 15 years has been awarded to two European firms, who will run it jointly. France’s Keolis and Spanish-owned Amey’s bid triumphed over a rival offer from Hong Kong’s MTR commuter […]

Business

M&S profits slump on store closure costs

Media playback is unsupported on your device Media captionM&S boss says firm too ‘inward looking’ Marks and Spencer has suffered a big fall in annual profits following a costly store closure plan. Annual pre-tax profits fell by almost two-thirds to £66.8m as sales of food, clothing and homeware all declined. On Tuesday the retailer said […]

Business

Challenging finances

Image copyright Getty Images Until this year, things were looking up for the new generation of banks trying to make their way in Britain’s notoriously tough banking market. But the woes of TSB have raised a question mark over their future. The financial crisis massively reduced the choices available to British customers, as weaker banks […]

Business

Manchester United 'remains most valuable club in Europe'

Image copyright Getty Images Image caption Both Manchester United and Chelsea featured in the top 10 Manchester United has again been named most valuable European football club, being worth about €3.25bn (£2.9bn) says business services group KPMG. The English club tops KPMG’s study of top sides’ “enterprise value”, ahead of Real Madrid and Barcelona. The […]

Business

FTSE 100 surges to a fresh record high

Image copyright Getty Images London’s main index, the FTSE 100, has surged to a fresh record high for the second time in less than a week. The FTSE 100 index closed over 1% higher at 7,859.17, comfortably above its previous high of 7,787 on 17 May. An easing of trade tensions between the US and […]

Business

Qatar charges against Barclays dismissed

Image copyright Getty Images The Crown Court has dismissed charges against Barclays Bank and its owner Barclays PLC over billions of pounds raised from Qatar in 2008. The charges were potentially extremely serious for Barclays as, if it had been found guilty, it could have lost its banking licence. Barclays said the Serious Fraud Office […]

Business

Cath Kidston boss poached by Dr Martens

Image copyright Ben A Pruchnie / Cath Kidston Image caption Cath Kidston’s Kenny Wilson is to head British footwear brand Dr Martens Cath Kidston’s chief executive Kenny Wilson is leaving the retailer to join British bootmaker Dr Martens. Mr Wilson, who has been with Cath Kidston since 2011, is credited with expanding its overseas business […]

Business

UK turns blind eye to dirty Russian money, say MPs

Image copyright Getty Images Image caption MPs want to see further sanctions against ‘Kremlin-connected individuals’ The UK has been accused of turning a “blind eye” to Russia’s “dirty money”, putting national security at risk. The Commons foreign affairs committee said London was being used to hide the “corrupt assets” of President Vladimir Putin and his […]

Business

China worries

Image copyright Reuters Image caption Are Chinese investors helping the US or threatening it? Washington is worried about Chinese investment in the US, yet is the rest of America? You might expect Leo Chan to be pessimistic about the future of Ohio, a state in the American middle west that has seen its former manufacturing […]