Business

Volkswagen puts Herbert Diess in the driving seat

Image copyright ReutersImage caption Herbert Diess has a reputation for being a cost-cutter Volkswagen has replaced its chief executive with Herbert Diess, who takes on responsibility for the entire company after overseeing the VW brand. Mr Diess replaces Matthias Mueller, who was appointed in 2015 at the height of the diesel emissions scandal. Mr Diess […]

Business

British Airways owner considers Norwegian bid

Image copyright Norwegian The owner of British Airways may bid for Norwegian Air Shuttle, the fast-expanding budget airline. Buying the airline would allow International Airlines Group to increase its market share amid rising competition from low-cost carriers. Norwegian said it had not been aware that IAG had acquired a 4.6% stake until media reports on […]

Business

Facebook: Cambridge Analytica data had private messages

Image copyright Getty ImagesImage caption Facebook has blocked Cambridge Analytica from further access to its data Facebook has confirmed that private messages were included in data involved in the Cambridge Analytica scandal. The social network said that about 0.5% of the 305,000 people who installed a personal data-harvesting app had given permission for it to […]

Business

British Gas price rise unjustified, says government

Image copyright Getty Images A 5.5%, or £60 a year, rise in energy prices for British Gas customers on default deals has been branded as “unjustified” by the government. The company, the UK’s largest energy supplier, said that 4.1 million of its customers would be affected. The increase will take effect from 29 May and […]

Business

Ultimo lingerie firm ceases trading in the UK

Image caption The firm announced a closing down sale on its website The Ultimo underwear firm set up by Michelle Mone is to cease trading in the UK. The Conservative peer, now known as Baroness Mone of Mayfair, established the lingerie brand in 1996. The firm achieved international success after actress Julia Roberts reportedly wore […]

Business

VW considers replacing chief executive Matthias Mueller

Image copyright Getty ImagesImage caption Matthias Mueller could be replaced as VW chief executive Volkswagen has said chief executive Matthias Mueller could be replaced as part of a management shake-up. The scandal-hit German carmaker said it was “considering further evolving the leadership structure”. Mr Mueller became VW chief executive in September 2015 following the diesel […]

Business

Deutsche Bank boss to step down amid continued losses

Image copyright Getty ImagesImage caption Deutsche Bank’s chief executive John Cryan will leave at the end of April The boss of Deutsche Bank is stepping down two years early amid continued losses at Germany’s biggest lender. John Cryan is replaced by co-deputy chief executive Christian Sewing. British-born Mr Cryan has held the job since 2015 […]

Business

Government to crack down on ‘rogue’ estate agents

Image copyright PA All estate agents will be required to hold a professional qualification under new government rules to crack down on “rogue” operators. Managing agents will also be forced to reveal the fees they receive for referrals to solicitors, surveyors and mortgage brokers. Housing Secretary Sajid Javid also vowed to tackle “stressful” delays faced […]