News: Money

Railways 'bursting at the seams', Grayling admits

Thursday  15:25,   20 september 2018

The transport secretary has admitted that Britain's railways are "bursting at the seams" but said renationalisation is not the answer. Chris Grayling has announced a "sweeping" review designed to transform the industry which he says is still...[...]

Equifax fined half a million pounds over data breach

Thursday  15:05,   20 september 2018

A credit reference agency that failed to protect the details of 15 million people in the UK during a cyber attack has been fined £500,000. The personal information lost or compromised during the incident between 13 May and 30 July 2017 ranged from...[...]

Aston Martin sets £5.07bn float valuation

Thursday  13:05,   20 september 2018

Luxury carmaker Aston Martin is looking at a valuation of up to £5.07bn as it prepares to float on the London Stock Exchange next month. The Lagonda and DB7 manufacturer has set share price range for its imminent listing at between £17.50 and...[...]

Sainsbury faces major probe into £14bn merger with Asda amid concerns shoppers could face higher prices

Thursday  11:50,   20 september 2018

The Competition and Markets Authority said the deal raised 'sufficient concerns' to warrant a full investigation into the impact on prices, choice and customer service. Sainsbury's and Asda, the UK's second and third largest...[...]

Wagon Wheels maker sells chocolate factory

Thursday  11:50,   20 september 2018

Wagon Wheels maker Burton's Biscuit Company has sold its chocolate manufacturing assets in Wirral, Merseyside, to Swiss chocolate firm Barry Callebaut for an undisclosed sum. The sale by the confectioner, whose brands also include Maryland...[...]

Inflation jumps as transport, theatre and autumn fashion prices rise

Thursday  07:05,   20 september 2018

Official statistics show inflation rose to 2.7% in August, up from 2.5% in July.Figures from the Office for National Statistics (ONS) show the Consumer Prices Index (CPI) rose to 2.7% in August, compared to 2.5% in...[...]

Orla Kiely goes bust with five stores closed and staff left without three weeks of pay

Thursday  05:50,   20 september 2018

Orla Kiely goes bust with five stores closed and staff left without three weeks of payThe Orla Kiely chain, famous for its floral designs as worn by Kate Middleton, Alexa Chung and Sarah Jessica Parker, has suddenly folded, closing two stores in...[...]

How the promise of electric power could transform aviation

Wednesday  19:25,   19 september 2018

The industry is on the brink of the biggest revolution since the 1930sAirbus thought it was about to make aviation history. When the company’s battery-powered E-Fan aircraft lifted into the air with barely a sound on a summer day in 2015, a cheer...[...]

Sainsbury's-Asda merger referred for investigation

Wednesday  16:50,   19 september 2018

The Competition and Markets Authority (CMA) is referring the proposed merger between Sainsbury's and Asda for a further "in-depth investigation".The CMA confirmed on Wednesday, having completed its Phase 1 investigation into the proposed merger, [...]

Phone customers overcharged by millions of pounds

Wednesday  16:26,   19 september 2018

Some mobile phone companies have charged customers almost half a billion pounds for handsets which they already own, according to Citizens Advice. It says four million people on deals with EE, Three and Vodafone have paid an extra £490m after their [...]

The heartbreaking story behind the Welsh dad who made us cry on Dragons' Den

Wednesday  14:52,   19 september 2018

After a distressing incident at home, Craig Hill decided to make an important life changeHe'd just delivered a confident, polished pitch to the "dragons", some of the most experienced and successful entrepreneurs in the...[...]

Snared by the child benefit trap: Hard-working families hounded to pay back thousands after accidentally falling foul of complex tax rules

Wednesday  13:52,   19 september 2018

Middle-class families are being hounded by the taxman for thousands of pounds after accidentally falling foul of complex child benefit rules, Money Mail can reveal.In the worst cases, parents have been sent threatening demands after wrongly...[...]

Danske Bank CEO quits in $234 billion money laundering scandal

Wednesday  13:06,   19 september 2018

By Jacob Gronholt-Pedersen and Teis Jensen"It is clear that Danske Bank has failed to live up to its responsibility in the case of possible money laundering in Estonia. I deeply regret this," Borgen said in a statement which detailed failings in...[...]

Tesla is 'headed for the graveyard,' predicts former GM exec Bob Lutz

Wednesday  12:05,   19 september 2018

Tesla CEO Elon Musk is a nice guy who doesn't know how to run a car company, says Bob Lutz, former vice chairman of General Motors."They will never make money on the Model 3 because the cost is way too high. He's got 9,000 people in that...[...]

BMW, Daimler and VW investigated over emissions collusion

Wednesday  06:05,   19 september 2018

BMW, Daimler and the Volkswagen group are being investigated over collusion on the development of car emission control systems. The EU Commission said on Tuesday that it had received information the German carmakers, along with VW's Audi and...[...]