Home » Archives by category » Top Stories

Oil prices jump over 3% on rising demand and production cuts

Oil prices jump over 3% on rising demand and production cuts

Image copyright Reuters Oil prices jumped on Monday with the Brent benchmark hitting its highest in more than two years. Rising demand and geopolitical worries fuelled the increase, along with indications that production cuts by Opec members are starting to bite. Brent rose 3.8% to $59.02 a barrel, its highest since July 2015, while the […]

Storms complicate Puerto Rico’s debt problems

Storms complicate Puerto Rico’s debt problems

Image copyright AFP/Getty Image caption Insured losses in Puerto Rico are estimated at $40bn-$85bn The destruction in Puerto Rico caused by Hurricane Maria will exacerbate the economic problems facing the deeply-indebted Caribbean island. Analysts said a chief risk is that the storm will accelerate the population decline on the island. Puerto Rico’s population has already […]

Bank of England sounds alarm on debt bubble risks

Bank of England sounds alarm on debt bubble risks

Lenders are underestimating the hit they would take from consumers defaulting on debt in a downturn, according to the Bank of England. The Bank’s Financial Policy Committee (FPC) said there were “pockets of risk” in the current level of lending on loans, overdrafts and credit cards. It estimated that in a “severe downturn”, UK banks […]

Aldi reports record sales but profits drop amid price war

Aldi reports record sales but profits drop amid price war

Image copyright Getty Images Aldi has reported record sales in the UK and Ireland for last year but its profits have fallen sharply amid a fierce price war among supermarkets. The German discounter said sales rose 13.5% to £8.7bn in 2016, but operating profit dropped 17%. The chain blamed the fall on its “continued investment […]

Motor insurance cost ‘widens between sexes’

Motor insurance cost ‘widens between sexes’

Men are being quoted more than women for vehicle insurance and the gap is widening, a price comparison site has claimed. The differential was wider than four years ago, despite European rules that prevent gender being considered as a factor when setting premiums. Men were now quoted 27% more than women for the cheapest deals, […]

Air Berlin pushes ahead with EasyJet and Lufthansa talks

Air Berlin pushes ahead with EasyJet and Lufthansa talks

Image copyright AFP Insolvent airline Air Berlin, Germany’s second-largest carrier, is pushing ahead with talks with EasyJet and Lufthansa about a possible sale. Air Berlin, which is still flying after a 150m euro (£130m) rescue loan from Germany’s government, said a deal could help 80% of its staff. Talks will continue with the two airlines […]

Uber seeks talks with London mayor to renew licence

Uber seeks talks with London mayor to renew licence

Image copyright Reuters Uber is prepared to make concessions to ensure its licence to operate in London is renewed, its general manager for the capital has said. Tom Elvidge told the Sunday Times: “While we haven’t been asked to make any changes, we’d like to know what we can do.” He added: “That requires a […]

UK’s credit rating downgraded by Moody’s

UK’s credit rating downgraded by Moody’s

Image copyright Reuters The UK’s credit rating has been cut over concerns about the UK’s public finances and fears Brexit could damage the country’s economic growth. Moody’s, one of the major ratings agencies, downgraded the UK to an Aa2 rating from Aa1. It said leaving the European Union was creating economic uncertainty at a time […]

UK chip designer Imagination bought by Chinese firm

UK chip designer Imagination bought by Chinese firm

Image copyright Reuters Image caption Apple uses Imagination’s technology in its iPhones UK technology firm Imagination, which designs graphics chips for smartphones, is being bought for £550m by a Chinese-backed investment firm. Imagination put itself up for sale in June after Apple, its largest customer, said it would stop using its products. The boss of […]

Brexit: Firms call for action after May’s Florence speech

Brexit: Firms call for action after May’s Florence speech

Image copyright AFP UK business groups have called for progress in the Brexit talks after Prime Minister Theresa May made offers on EU funding and citizens rights. Mrs May also suggested a transition period of about two years during which trade should continue on current terms. The CBI and other business bodies said negotiators now […]

Page 1 of 76123Next ›Last »