News: Money

Amazon Reportedly Investigating Whether Some of Its Staff Are Taking Kickbacks From Merchants

Monday  12:50,   17 september 2018

Amazon is reportedly investigating whether independent merchants operating on their platform are greasing the palms of staff to divulge confidential information about the site, the Wall Street Journal reported on Sunday. According to the report,...[...]

Last Lehman Brothers staff in UK to be let go decade on from financial crisis

Monday  12:25,   17 september 2018

PwC, which is leading the administration, expects one final year of work ahead.Lehman’s European hub in London employed around 5,500 staff when the bank went bust in 2008, but the transfer of its equities business to Nomura and a subsequent round of [...]

Financial crisis 2008: Five biggest risks of a new crash

Sunday  19:25,   16 september 2018

Is the world "sleepwalking" into the next global financial crisis?A decade later, with many of the world's leading economies struggling to grow consistently, one would have hoped that the banking industry and its regulators would have learned from...[...]

Waitrose's bag ban will save 550 tons of plastic

Saturday  16:50,   15 september 2018

Waitrose is to remove all plastic bags by next March saving around 550 tons of plastic a year. A home compostable alternative will be used for fruit and vegetable plastic bags.Waitrose will initially remove 5p bags from six shops from 8 October to...[...]

A flight attendant for China Eastern Airlines was fired after her boyfriend proposed to her on board

Saturday  14:50,   15 september 2018

This flight attendant didn't expect to be proposed to on board one of her flights. She certainly didn't expect to be fired over it, either. Back in May, a video went viral of a flight attendant's boyfriend proposing to her on board a plane....[...]

British families face being hit with a new 'flight tax' to help Government pay for border staff at airports

Saturday  14:25,   15 september 2018

Staff cuts and a surge in passengers have been blamed for delays at UK passport controls this summer. The Department for Transport said it was considering taxing travellers to counter it.Millions of travellers could be hit with a new tax to pay for...[...]

David Hockney painting expected to break auction records

Saturday  07:50,   15 september 2018

A painting by the British artist David Hockney is expected to sell for at least $80 million at Christie's, easily breaking the record for a work by a living artist at auction. Hockney's 'Portrait of an Artist (Pool with Two Figures)' [...]

No Deal Brexit 'Disaster' Fears As Mark Carney Warns House Prices Could Drop By One-Third

Saturday  04:50,   15 september 2018

MPs have warned that Theresa May is leading the country towards “economic disaster” after Mark Carney reportedly told Cabinet ministers that house prices would fall by 35% if the UK leaves the EU without a deal with Brussels. According to the Times, [...]

Bank keeps interest rates at 0.75% as Brexit looms

Friday  05:50,   14 september 2018

The Bank of England has maintained interest rates at 0.75% as the clock ticks down to Brexit in March next year. The monetary policy committee (MPC), which voted unanimously in favour of no change to the benchmark rate, raised its projection for UK...[...]

L&G secures record £4.4bn British Airways pension deal

Friday  05:05,   14 september 2018

The agreement is the largest ever bulk annuity policy arranged with a UK pension scheme.The insurance giant said the deal – the largest ever bulk annuity policy arranged with a UK pension scheme – is “groundbreaking”, covering nearly 22,000...[...]

Morrisons shareholders pocket £91m after sales growth hits nine-year high

Thursday  22:50,   13 september 2018

The supermarket chain is raising its interim dividend 132%.The grocery group announced plans to pay out £91 million to investors after raising its total interim dividend 2p, or 132%, to...[...]

A weaker British pound makes no economic sense

Thursday  19:50,   13 september 2018

For the past 70 years, Britain has been the master of currency depreciations. In 1948, £1 bought just over $4 and 13.4 of the new Deutsche Marks. Today a pound buys only $1.30 and the equivalent of DM2.20. The UK’s performance in devaluing its...[...]

John Lewis half-year profits slump by 99%

Thursday  16:50,   13 september 2018

The John Lewis Partnership has announced a 99% slump in half-year profits, saying its department stores are being squeezed by the "most promotional market we have seen for almost a decade."The company, which also has Waitrose supermarkets in its...[...]

Ryanair boss warns Brexit could ground planes

Thursday  15:50,   13 september 2018

Ryanair's chief executive has issued his starkest warning yet on the impact of a "no-deal" Brexit on aviation.Michael O'Leary told Sky News there was every chance that planes would be grounded in the event of the UK leaving the EU without a...[...]

House of Fraser and Debenhams merger 'discussed'

Thursday  13:01,   13 september 2018

The possibility of merging Debenhams and House of Fraser has been discussed, a director of Sports Direct has said. Sports Direct, owned by billionaire Mike Ashley, bought House of Fraser out of administration for £90m. The sports gear retailer also...[...]