Business

Giraffe and Ed’s Easy Diner site closures agreed

Image copyright PA Plans to close 27 Giraffe and Ed’s Easy Diner restaurants have been approved by creditors, putting hundreds of jobs at risk. The brands will enter a company voluntary arrangement (CVA) and close almost a third of their 87 restaurants. The business, owned by Boparan Restaurant Group (BRG), first put forward the plan […]

Business

UK interest rates on hold amid Brexit impasse

Image copyright Getty Images The Bank of England has kept interest rates on hold amid continued uncertainty over Brexit. All nine members of the Bank’s Monetary Policy Committee (MPC) voted to keep rates at 0.75%, where they have been since August last year. In the meeting’s minutes, the MPC said the economic outlook would continue […]

Business

Bank payment scams claim 84,000 victims

Image copyright Getty Images Scams in which criminals trick bank customers into paying them money out of their bank accounts jumped by 45% in the second half of last year. In the six months to December, £135m was transferred out of personal accounts to fraudsters with the customer’s permission. In the first half of 2018, […]

Business

Ford accelerates electric vehicle investment

Image copyright Getty Images Carmaker Ford is expanding production of all-electric vehicles after deciding that rapid growth in market meant it needed to accelerate its plans. It is investing about $900m (£682m) in new production capacity at a plant in Michigan, creating about 900 jobs. Head of global operations Joe Hinrichs said it had “taken […]

Business

Google hit with €1.5bn fine from EU over advertising

Image copyright Getty ImagesImage caption Alphabet’s Google remains a dominant force in online advertising Google has been hit with a €1.49bn (£1.28bn) fine from the EU for blocking rival online search advertisers. It is the third EU fine for the search and advertising giant in two years. The case accuses Google of abusing its market […]

Business

National Portrait Gallery drops £1m donor

Image copyright AFPImage caption The redevelopment of the National Portrait Gallery is due to be finished in 2023 A £1m donation to the National Portrait Gallery has been withdrawn because the potential donors are alleged to have fuelled the US opioid crisis. The Sackler Trust, run by the family that owns Purdue Pharma, seller of […]

Business

Kingfisher boss to go as profits fall further

Image copyright Kingfisher The boss of struggling DIY group, Kingfisher, which owns B&Q and Screwfix, is to step down amid worsening profits. Veronique Laury, who had been overseeing a turnaround plan, will leave the company, although no date was given for her departure. Profits fell 13% over the last year, with the firm’s French chain, […]

Business

EasyJet withdraws from proposed Alitalia consortium

Image copyright Getty Images Easyjet has abandoned talks to join a consortium that would have bid for Italian carrier Alitalia. The budget airline had been considering teaming up with Italy’s state-controlled railway Ferrovie dello Stato Italiane and Delta Air Lines of the US. Alitalia was went into administration in May 2017 after workers rejected a […]

Business

WorldPay payments firm in $43bn sale to US rival

Image copyright WorldPay A payment processing firm that used to be owned by Royal Bank of Scotland has been sold in a deal worth $43bn (£32bn). WorldPay has been bought by Florida-based Fidelity National Information Services (FIS) for $35bn in cash and shares, plus WorldPay’s debt. Customers of WorldPay include TopShop, Clarks, Monsoon, Accessorize and […]