Business

Ryanair calls for restricted airport alcohol sales

Image copyright PAImage caption A flight from Dublin to Ibiza had to be diverted to Paris on Saturday after three passengers became disruptive Ryanair has called for more restrictions on alcohol sales at airports. The airline proposed a two-drink limit for passengers and a ban on alcohol sales in airports before 10:00. This move comes […]

Business

Don’t bank on it: Why we fail to switch our accounts

Image copyright Getty Images The numbers tell it all. The Competition and Markets Authority’s (CMA) investigation into the banking industry in 2016 found that just 3% of current account customers had moved their account in the past year. On a three-year time scale, 8% had switched while three-quarters of customers had never switched at all. […]

Business

Virgin Money bought by CYBG for £1.7bn

Image copyright Reuters The owner of Clydesdale Bank and Yorkshire Bank, CYBG, has agreed to buy Virgin Money for £1.7bn. Under the deal, all the group’s retail customers will be moved to Virgin Money over the next three years. It will be the UK’s sixth-largest bank, with about six million customers, but 1,500 jobs are […]

Business

Thousands of council tenants could get water payouts

Image caption Tenants could see money back from their landlords Up to 460,000 council and housing association tenants could get a payout after a London borough was ruled to have overcharged its tenants for water. The ruling against Southwark sets a legal precedent that means other councils and housing associations may now have to make […]

Business

‘Scammers struck as my mum was dying’

Image copyright Angelene BungayImage caption Mrs Bungay thought she was transferring money to her builder A victim of fraud was tricked out of £13,000 in a sophisticated scam as she cared for her dying mother. Angelene Bungay, 42, transferred money to a fraudster posing as the builder who was preparing to convert the loft of […]

Business

Trump puts 25% tariff on Chinese goods

Image copyright Getty Images US President Donald Trump is to impose 25% tariffs on $50bn worth of Chinese goods, accusing Beijing of intellectual copyright theft. Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July. The White House said it would consult on tariffs […]

Business

Govia Thameslink chief executive Charles Horton resigns

Media playback is unsupported on your device Media captionWhy has your commute turned into a nightmare? The boss of beleaguered rail firm Govia Thameslink Railway (GTR) is to resign. Passengers have faced major disruption as hundreds of trains were cancelled following the introduction of new timetables in May. GTR, which runs Thameslink, Southern and Great […]

Business

ECB to end crisis-era stimulus programme in December

Image copyright Getty Images The European Central Bank (ECB) has confirmed it will end a huge programme to stimulate the eurozone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, despite a recent slowdown in the bloc’s recovery. The move is a major step towards dismantling the policies brought in […]

Business

Royal wedding and hot weather boost retail sales

Image copyright Reuters The hot weather and royal wedding celebrations contributed to another strong rise in retail sales last month, official figures have indicated. Retail sales volumes rose 1.3% in May from the month before, the Office for National Statistics said, following April’s increase of 1.8%. Sales in May were up 3.9% from the same […]

Business

Rolls-Royce announces 4,600 job cuts

Image copyright PAImage caption The jet engine-maker says it needs fewer layers of management Engineering firm Rolls-Royce is to cut 4,600 jobs over the next two years as part of a major reorganisation. Middle managers and back-office staff are to bear the brunt of the cuts, which are expected to hit its Derby base hard. […]