Business

No-deal Brexit would hit UK economy, says IMF

Image copyright PAImage caption Christine Lagarde was speaking at a news conference at the Treasury The International Monetary Fund has warned that a “no-deal” Brexit on World Trade Organization terms would entail “substantial costs” for the UK economy. The IMF said that all likely Brexit scenarios would “entail costs”, but a disorderly departure could lead […]

Business

Coca-Cola ‘in talks’ over cannabis-infused drinks

Image copyright Getty Images Coca-Cola is best known for its eponymous caffeine-based drink, but the firm now appears to be experimenting with a different drug: cannabis. According to Canada’s BNN Bloomberg, the drinks giant is in talks with local producer Aurora Cannabis about developing marijuana-infused beverages. These would not aim to intoxicate consumers but to […]

Business

Jaguar workers put on three-day week until Christmas

Image copyright JLR About 1,000 workers at Jaguar’s Castle Bromwich plant in Birmingham will move from a five-day to a three-day week from October until Christmas. Jaguar Land Rover said it was making “temporary adjustments to our production schedules” at the factory. It affects about half the plant’s 2,000 workers, who will remain on full […]

Business

‘The Bank of Mum and Dad will run dry’

Image copyright PAImage caption A mock funeral procession was held as a marketing gimmick after Wonga collapsed Families will be unable to provide the extra financial support needed by their loved ones if lending from credit firms is choked off, a trade body has warned. The Consumer Credit Trade Association said its members were under […]

Business

The day Lehman Brothers went under

Image copyright Getty Images Ten years ago, investment bank Lehman Brothers filed for bankruptcy in the US. Its UK operations ceased shortly afterwards. The BBC talked to people involved about their recollections of the bank’s collapse, which gave the financial crisis fresh momentum before the worst economic downturn the world had seen since the 1930s. […]

Business

Trump ‘orders further China tariffs’

Image copyright Getty ImagesImage caption Workers unload bags of chemicals at a port in Zhangjiagang in China’s eastern Jiangsu province US President Donald Trump has instructed staff to move forward with the next round of tariffs on Chinese goods, US media have reported. The tariffs are expected to apply to about $200bn worth of imports […]

Business

GM recalls 1.2 million 2015 pickup trucks and SUVs

Image copyright Getty Images General Motors Co has issued a safety recall for about 1.2 million pickup trucks and SUVs globally, citing problems with the power steering function. The same issue prompted the firm to recall about 800,000 pickup trucks last year. GM said dealerships will provide free software updates to fix the problem. About […]