Business

Carluccio’s rescue plan could close 30 restaurants

Image copyright Carluccio Carluccio’s could close up to a third of its branches in a Company Voluntary Arrangement (CVA) rescue plan. Over 90% of Carluccio’s creditors approved the CVA, allowing it to close 30 loss-making restaurants. Under the plan, the company’s majority owner, the Dubai-based Landmark Group, will invest £10m in upgrading the remaining restaurants. […]

Business

Crackdown on high-interest lending announced by FCA

Image copyright Getty ImagesImage caption Rent-to-own customers usually pay off household appliances over three years “Rent-to-own” shops that sell appliances and furniture for small weekly payments but with a high interest rate face a price cap. However, the financial regulator will not rush to impose the same restrictions on bank overdrafts. The Financial Conduct Authority […]

Business

Trump’s China tariffs could be imposed in June

Image copyright AFP/GettyImage caption If the US moves ahead with tariffs, China has threatened to retaliate with tariffs on US items such as soybeans The US has said it plans to impose 25% tariffs on $50bn worth of Chinese imports “shortly” after mid-June. Critics had accused the administration of going soft on China after Treasury […]

Business

Dixons Carphone to close 92 stores as profits slide

Image copyright Dixons CarphoneImage caption Dixons Carphone employs more than 42,000 people in nine countries Shares in Dixons Carphone have closed 20.7% down after it warned of a sharp fall in profits this year. The mobile phone and electrical goods retailer also said it would close 92 of its more than 700 Carphone Warehouse stores […]

Business

Italy political crisis hits European stock markets

Image copyright ANDREAS SOLARO/AFPImage caption Former IMF official Carlo Cottarelli is now interim prime minister European financial markets have been hit by political upheaval in Italy. The prospect of elections as early as September, along with the possibility of eurosceptic parties strengthening their position, has hit markets. Italy’s benchmark FTSE MIB closed down 2.7%. The […]

Business

Bank of Mum and Dad ‘feels the pinch’

Image copyright Getty Images Parents are parting with thousands of pounds to help their children get on the property ladder, but they can’t afford to lend as much as they used to. The average parental contribution for home buyers this year will be £18,000, down 17% from last year’s £21,600, according to Legal & General […]

Business

Busking goes cashless with ‘a world first’ for London

Image copyright PAImage caption Charlotte Campbell trialled the system by requesting donations of £2 London has introduced a contactless payment scheme for buskers in what the organisers claim is a world first. In addition to tossing loose change into a box, passers-by can use card readers to make contactless payments. It has been launched in […]

Business

Business groups write to PM urging Heathrow expansion

Image copyright PA Theresa May has been urged to stick to the government’s timetable for having a vote on Heathrow expansion. A number of business lobby groups have signed a letter saying the government needs to “get on with expanding the UK’s airport capacity”. The BBC understands that the idea for the letter came from […]

Business

RBS closures decision criticised by MPs

Image caption RBS is closing at least 52 of its branches in Scotland RBS has failed to appreciate the impact of its decision to close dozens of branches in Scotland, a report by MPs has found. The Scottish Affairs Committee described the move as a “devastating blow” for communities affected. It urged the bank, which […]