Business

Waterstones bookshop chain sold to Elliott Advisors

Image copyright Waterstones Book chain Waterstones has been bought by activist investment firm Elliott Advisors for an undisclosed amount. James Daunt, the chain’s chief executive since 2011, will remain in the post under the new ownership, along with his key management team. Mr Daunt said the sale should mean the chain could grow a lot […]

Business

TSB chaos: ‘We are on our knees,’ says boss

Media playback is unsupported on your device Media captionTSB chief Paul Pester told 5 live Breakfast he ‘hasn’t had time to think’ about resigning. TSB boss Paul Pester has told the BBC the bank is “on our knees” after six days of computer chaos, but pledged “we will get up and come back fighting”. The […]

Business

End doubts over diesel’s future, says Ford boss

Media playback is unsupported on your device Media captionAndy Barratt of Ford UK says lack of clarity has caused job losses Uncertainty about the future of diesel is threatening the UK car industry and leaving drivers in limbo, according to Ford’s UK boss. Andy Barratt said consumers were buying fewer diesel cars, fearing they were […]

Business

Metro Bank avoids shareholder revolt

Image copyright PAImage caption Metro Bank chairman and founder Vernon Hill with his dog Duffy Metro Bank has avoided a shareholder revolt with founder Vernon Hill re-elected as chairman despite controversy over multi-million pound payments made to a company owned by his wife. Of the votes cast at the bank’s annual general meeting, 96% were […]

Business

Britain powers on without coal for three days

Image copyright Getty ImagesImage caption The Drax power station in North Yorkshire has been switching to biomass from coal Britain has not generated electricity from coal for more than three days – the longest streak since the 1880s. The new record comes just days after the last record of 55 hours was set, National Grid […]

Business

Hamleys owner ‘eyes House of Fraser deal’

Image copyright Getty Images The Chinese owner of Hamleys is in talks to take a stake in House of Fraser, according to a report. Hamleys owner C.banner International has signed a memorandum of understanding with Nanjing Xinjiekou, the Press Association reported. Nanjing Xinjiekou holds an 89% stake in House of Fraser and is part of […]

Business

TSB boss says sorry for banking chaos

By Simon Read Personal finance reporter, BBC News Image copyright Getty Images The boss of TSB has apologised for its IT fiasco amid rising customer fury as the crisis continued for a fourth day. Paul Pester said he was “deeply sorry” and promised no one would be left out of pocket as a result of […]

Business

Social media facing new UK laws

Image copyright Facebook/AFP/GoogleImage caption Jeremy Hunt has written to a number of internet companies, including Facebook and Google Social media firms are being threatened with new laws if they don’t do more to protect children online. In a letter to companies including Facebook and Google, Health Secretary Jeremy Hunt accuses them of “turning a blind […]

Business

Korean Air ‘nut rage’ sisters step down

Image copyright ReutersImage caption The airline boss’s youngest daughter was involved in a water-throwing incident this month The CEO of Korean Air says his two daughters are resigning after separate incidents that led to allegations of abuse of power inside the company. Police are investigating the youngest daughter, Cho Hyun-min, after she allegedly splashed water […]

Business

No-deal Brexit ‘disastrous’ for food firms

Image copyright Getty Images A free trade deal with the EU after Brexit is “crucial” for the UK food and drink industry and failure to secure one would be “disastrous”, a committee of MPs has warned. A no-deal outcome would have a “seismic impact”, said the Business, Energy and Industrial Strategy committee. An EU free […]

Business

Six shops defying the High Street downturn

Image copyright Reuters Sometimes it seems there’s nothing but doom and gloom on the UK’s High Streets. This week we heard profits were down at Debenhams and a big deal between shopping centre owners Hammerson, which owns Birmingham’s Bullring, and Intu fell through. New store openings are at their lowest level for seven years. And […]