Business

Debenhams boss Sergio Bucher steps down

Image caption Sergio Bucher joined Debenhams from Amazon Debenhams boss Sergio Bucher has stepped down following the recent takeover of the struggling department store chain by its lenders. The retailer was taken over earlier this month as part of an administration process. Mr Bucher’s departure had been signalled over the weekend and he said on […]

Business

ConocoPhillips sells off UK North Sea assets for £2bn

Image copyright Conocophillips ConocoPhillips is pulling out of UK exploration and production after selling its North Sea oil and gas assets to Chrysaor for $2.68bn (£2bn). The sale will boost Chrysaor’s production by about 72,000 barrels a day to 177,000 – making it one of the UK’s biggest operators. The deal, expected to complete in […]

Business

Retail sales boosted by mild weather in March

Image copyright Getty Images Retail sales unexpectedly jumped in March as mild weather enticed shoppers to UK stores. The Office for National Statistics (ONS) said the year-on-year growth in March was 6.7% – the highest since October 2016. The ONS said milder weather had helped to boost sales in comparison with the “Beast from the […]

Business

Facebook copied email contacts of 1.5 million users

Image copyright Reuters Facebook “unintentionally” uploaded the email contacts of more than 1.5 million users without asking permission to do so, the social network has admitted. The data harvesting happened via a system used to verify the identity of new members, Facebook asked new users to supply the password for their email account, and took […]

Business

Amazon plans to shut online store in China

Image copyright Getty Images Amazon plans to shut its online store in China that allows shoppers to buy from local sellers as it downsizes operations in the country. The firm said it would no longer run the domestic marketplace from July, but Chinese shoppers will still be able to order goods from Amazon’s global store. […]

Business

Competition watchdog recommends accountancy market overhaul

Image copyright AFP The UK’s competition regulator has recommended a major shake-up of the UK’s accountancy market. But it has stopped short of calling for the Big Four accountancy firms to be broken up. The Competition and Markets Authority (CMA) said auditing and consultancy services should be entirely separate. However, industry bodies criticised the proposals, […]

Business

Crossrail ‘could be delayed until 2021’

Image copyright ReutersImage caption The Elizabeth Line had been due to open in December 2018 Crossrail could be delayed until 2021, according to a senior source associated with the project to build a new railway underneath central London. The east-west route, officially called the Elizabeth Line, will run between Reading and Shenfield in Essex and […]

Business

Pelosi warns over post-Brexit trade deal

Image copyright AFPImage caption California Democrat Nancy Pelosi is the speaker in the House of Representatives – the third most powerful role in Washington US Speaker of the House Nancy Pelosi has begun an official visit to the Republic of Ireland. Speaking on the eve of her visit, she said there would be “no chance […]

Business

EU law fixes minimum rights for ‘gig economy’ workers

Image copyright ReutersImage caption The European union cited food delivery workers at Deliveroo as one example of the “gig economy” The European Parliament has approved new EU rules to protect workers in the so-called “gig economy”. The law sets minimum rights and demands increased transparency for those in “on-demand” jobs, such as at Uber or […]

Business

Unemployment across UK shows slight fall

Image copyright Getty Images Unemployment fell by 27,000 in the three months to February to 1.34 million, official Office for National Statistics (ONS) figures show. The number of people in work was also virtually unchanged at a record high of 32.7 million, with a jump of 179,000. The figure has increased by 457,000 over the […]

Business

JD Sports rewarded for focus on millennials

Image copyright Getty Images A focus on younger consumers has helped JD Sports to buck the retail gloom and report record results. The sportswear retailer said pre-tax profits rose 15.4% to £339.9m in the year to 2 February, with revenues jumping 49.2% to £4.7bn. Executive chairman Peter Cowgill told the BBC: “The business has stayed […]

Business

Amazon ‘flooded by fake five-star reviews’ – Which? report

Image copyright Getty Images Online retail giant Amazon’s website is flooded with fake five-star reviews for products from unfamiliar brands, consumer group Which? has claimed. Household names were largely absent from top-rated reviews on popular items such as headphones, smart watches and fitness trackers, it concluded. Thousands of reviews were unverified, meaning there was no […]