business

Pension scam victims 'lost £91,000 each'

By Kevin Peachey Personal finance reporter 14 August 2018 Image copyright FCA Image caption A new TV advert shows how a fraudster might spend someone else’s savings Pension scam victims are losing an average £91,000 each as fraudsters see the potential for looting savings pots. One victim, Jennifer Ringstead, who lost over £50,000, said she is “angry” she had not ...

Read More »

US pushes back on foreign takeover deals

US pushes back on foreign takeover deals 13 August 2018 Image copyright AFP Image caption President Donald Trump signed a military spending bill that includes tougher measures on foreign investment The US has passed a new law that strengthens the government’s power to review – and potentially block – business deals involving foreign firms. US President Donald Trump signed the ...

Read More »

Sainsbury's supermarket goes 'till-free'

By Chris Fox Technology reporter 13 August 2018 Image copyright Sainsbury’s Supermarket chain Sainsbury’s is trialling its first “till-free” store, in which shoppers do not need to queue for a staffed or self-service checkout. Instead, customers can scan goods with a smartphone and put them straight into a bag. When they have finished shopping, their payment is processed by the ...

Read More »

Elon Musk says Saudis back Tesla buyout

13 August 2018 Image copyright Getty Images Elon Musk has outlined his plan to take Tesla private and said he discussed financing the deal with Saudi Arabia. The founder of the electric carmaker also indicated that he would need to raise far less than the $70bn it has been estimated he would need. In a blog post, Mr Musk said ...

Read More »

Rail fares predicted to rise 3.5% next year

Rail fares predicted to rise 3.5% next year 13 August 2018 Image copyright Reuters Millions of commuters are set to face a 3.5% rise in rail fares from January. The fare hike comes after a summer of chaos for many train customers, after a rail timetable overhaul saw scores of cancellations and delays. The exact increase will be announced on ...

Read More »

Turkey accuses US of 'stab in back' as currency woes persist

Turkey accuses US of ‘stab in back’ as currency woes persist 13 August 2018 Related Topics Turkish lira crisis Image copyright Reuters Moves to ease Turkey’s economic woes have failed to stop market turmoil as the country’s row with the US deepens. Turkey’s President, Recep Tayyip Erdogan, said on Monday that the US was seeking to “stab it in the ...

Read More »

Mike Ashley told to pay House of Fraser suppliers in full

Mike Ashley told to pay House of Fraser suppliers in full 13 August 2018 comments Image copyright Getty Images Mike Ashley’s Sports Direct is facing calls to boost payments to out-of-pocket House of Fraser suppliers. Sports Direct bought the 59-store department store chain on Friday for £90m, just hours after it went into administration. Some suppliers expect to be paid ...

Read More »

House of Fraser bought by Sports Direct for £90m

House of Fraser bought by Sports Direct for £90m 10 August 2018 comments Image copyright Getty Images Mike Ashley’s Sports Direct has agreed to buy the House of Fraser department store chain for £90m. The deal was announced just hours after the 169-year-old chain went into administration when talks with its creditors failed to reach an agreement. Mr Ashley said ...

Read More »

Turkey's lira crisis explained

Turkey’s lira crisis explained 10 August 2018 Image copyright Getty Images Image caption Luxury yachts off the Lycian coast in southern Turkey Turkey’s currency, the lira, has hit record lows, creating a headache for the country’s president and pushing up prices on everyday items. But there is one area reaping the benefits: tourism. Bookings to Turkey have gone up in ...

Read More »

UK growth boosted by warmer weather

10 August 2018 comments Image copyright Getty Images Image caption The construction sector grew by 0.9% over the quarter Economic growth in the UK picked up in the three months to June as construction and services were lifted by the warmer weather, according to the Office for National Statistics (ONS). The economy grew by 0.4% in the period, compared with ...

Read More »