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Business News

Economic slowdown: China urges push to boost sluggish economy
Premier Li Keqiang called for a 'sense of urgency' to reverse a zero-Covid led slump.

Food prices push UK inflation to new 40-year high
Prices climb 10.1% in the year to July as the cost of food, household goods and holidays soars.

Backing for Adam Neumann's new firm prompts outrage
Adam Neumann's financial backers say he's a "visionary leader" but others have doubts over his latest plans.

Ladbrokes owner Entain to pay £17m for breaching rules
Entain failed to properly check possible money-laundering or offer support to struggling customers.

UK to receive shipment of Australian gas next week
As Europe looks for alternatives to Russian energy, the UK is set to get an LNG delivery from Australia.

Chinese internet giants hand algorithm data to government
Alibaba and Tiktok-owner ByteDance are among firms that have shared information with regulators.

Shanghai Covid: Ikea shoppers flee attempt to lock down store
Video shows people running out of the store in Xuhui district as guards tried to shut them in.

UK to cut import taxes from some of world's poorest countries
Clothes, shoes and foods will benefit from lower or zero tariffs under the new scheme.

German households face levy of hundreds of pounds on gas bills
The surcharge will help energy companies cover the cost of replacing Russian supplies.

Heathrow Airport extends cap on passengers to end of October
It means a daily limit on departing passengers will now apply until after the October half-term holidays.

Russia reopens bond market to 'not hostile' investors
The Moscow Exchange sealed off its markets in February when the country invaded Ukraine.

Saudi Aramco: Oil giant tops own record with $48.4bn quarterly profit
The staggering profit comes amid soaring oil prices in the aftermath of Russia's invasion of Ukraine.

Rakesh Jhunjhunwala: Tributes for India's 'stock market king' who died at 62
Rakesh Jhunjhunwala, also known as "the big bull" of Indian markets, has died at the age of 62.

Not just hardest up that need bill help - Sir Keir Starmer
The Labour leader tells the BBC his proposal to freeze energy prices for all is a good use of public money.

Workers going into office 1.5 days a week, survey suggests
This compares to an average of 3.8 days a week pre-pandemic, research by a consultancy suggests

Nursery closures: Parents left without childcare as providers shut
A campaign group says it has been "inundated" with messages about nurseries going out of business suddenly.

Bike seller Peloton and meditation app Calm cut jobs
After pandemic success, exercise product maker Peloton and meditation app Calm slash jobs.

Johnson & Johnson to replace talc-based powder with cornstarch
By 2023 J&J will make all its baby powder using cornstarch following legal battles over talc's safety.

Lee Jae-yong: Why South Korea just pardoned the Samsung 'prince'
Lee Jae-yong, who was convicted for bribery and embezzlement, has been granted a presidential pardon.

Argentina rate hiked to 69.5% as inflation hits 20-year high
The move comes as figures showed inflation in South America's second largest economy hit a 20-year high.

UK economy shrinks as outlook on recession darkens
The economy shrank by 0.1% leading some experts to warn a recession could start sooner than expected.

People can't wait for energy help - Citizens Advice
The charity voices concerns of delaying support for households bracing themselves for energy bill hikes.

McDonald's plans to reopen in Kyiv and western Ukraine
The burger chain says it hopes to support a "small but important sense of normalcy".

Ryanair boss O'Leary says the era of €10 flights is over
Flights will be more expensive because war in Ukraine has pushed up oil prices, Michael O'Leary tells the BBC.

The Russian billionaire daring to speak out about Putin
Boris Mints calls Putin's invasion of Ukraine "vile", adding the war is a result of his "madness".

Meta's chatbot says the company 'exploits people'
The new prototype doesn't think much of the company's CEO, Mark Zuckerberg, either.

Disney adds subscribers but warns over cricket loss
The media giant is gaining subscribers as it details plans to launch an ad-supported service in December.

US inflation eases in July as petrol prices drop
US consumer prices rose at annual rate of 8.5% in July, more slowly than June as petrol prices fell

Domino's: fast food giant pulls out of Italy, the home of pizza
The fast food giant's pandemic-related exit from Italy was celebrated by some social media users.

Elon Musk sells $6.9bn of Tesla shares as Twitter lawsuit looms
The world's richest man says he needs the money in case he is forced to buy Twitter for $44bn.

China property crisis: Why homeowners stopped paying their mortgages
The country's property sector is struggling with a cash crunch, forcing buyers to take extreme steps.

US invests $280bn in high tech to compete with China
US President Joe Biden said the new funding for tech would keep the US competitive.

UK households already in debt as energy bills rise
Government support needs to double to make up for the huge expected rise in bills, the consumer expert says.

US Senate passes sweeping climate, tax and healthcare package
The bill seeks to lower the cost of medicines, increase corporate taxes and reduce carbon emissions.

Energy bills forecast to hit over £4,200 a year
The average household could pay £355 a month, up from £164 currently, consultancy Cornwall Insight warns.

UK supermarket food could soon carry eco-labels
Scientists hope that a scoring system will lead manufacturers to compete over sustainability.

Olive oil prices could rise 25% as heatwave hits production
Prices in supermarkets could increase by 20-25% later this year, one leading exporter tells the BBC.

UK PM rules out immediate cost-of-living action
It comes as business boss Tony Danker warns the UK cannot "afford a summer of government inactivity".

Qantas asks executives to work as baggage handlers for three months
The airline's head of operations has asked for 100 volunteers to fill the roles for three months.

Jaguar Land Rover owner Tata Motors to buy Ford car plant in India
The American motor industry giant announced last year that it would close its Indian car factories.

JetBlue airline boss over-hiring to beat staff exodus
Low-fare carrier JetBlue said it is a necessary policy when recruiting, as the industry re-starts.

Cost of living: People turning back to cash as prices rise
Post Offices handled a record £801m in personal cash withdrawals in July.

US jobs growth jumps in July despite slowdown fears
Firms added far more jobs than expected last month as interest rates rise to tackle inflation.

Evergrande gets $818m as football stadium land deal cancelled
The announcement comes as the heavily-indebted Chinese property firm tries to raise cash to repay debt.

Bank of England warns the UK will fall into recession this year
The Bank of England raises rates as it warns inflation will rise over 13% and the UK faces a long recession.

Shell staff get profits bonus as energy bills soar
The oil giant is to give its staff a bonus as households are being hit by soaring energy bills.

Ukraine war: UN chief Guterres slams oil and gas firms' 'grotesque greed'
UN Secretary General Antonio Guterres says "grotesque greed is punishing the poorest".

UK hiring slowing down amid economic uncertainty
The recruitment blitz that followed the pandemic is cooling, according to a jobs report.

Oil output to see small hike to ease energy prices
Opec+ members will pump an extra 100,000 barrels a day in September, an amount some say is "meaningless".

AMTD Digital: How a small Hong Kong firm's shares soared
The meteoric rise of AMTD Digital's shares has been likened to the so-called "meme stock" phenomenon.

'Interest rates rise means I owe £250 a year more on loans'
Five people explain the change in their circumstances due to the rise in interest rates.

UK interest rates: How does a rise affect me?
Interest rates are one of the main tools used to keep the UK economy growing steadily.

Energy bills to rise and fall quicker to avoid price shocks
Customers "face a very challenging winter ahead", says regulator, as it updates bills every three months.

M&S stops selling disposable barbecues across UK
The supermarket says the move is to protect open spaces, after record temperatures sparked a spate of fires. scam: Tourists descend on north London private home
A woman says she feels vulnerable after dozens of tourists arrived at her private home throughout July.

Dyson fined £1.2m after milling machine fell on worker
The company has been fined after a 1.5 tonne machine fell on a worker at its Wiltshire factory.

Bain consultancy banned from government work over 'misconduct'
The management consultancy cannot work for the UK government for three years over 'misconduct' in South Africa.

Tinder: CEO Renate Nyborg to leave dating app after one year
Renate Nyborg's exit is part of a major shake-up of the dating app's management and strategy.

Robinhood cuts nearly a quarter of staff as crypto dives
The trading platform, which is popular with amateur investors, reported a large drop in revenues.

Cost of living: Small garages want petrol prices cut at chains
Independent fuel sellers say supermarkets are not reflecting wholesale costs at the pump.

Airbnb bookings hit record high as travel recovers
Rising prices did not deter travellers, the lodging website said.

Stephen King testifies against merger of publishing giants
The cult author said claims the tie-up would not hinder competition were "a little bit ridiculous".

Uber attracts record number of drivers as cost of living bites
The ride-hailing app had been facing a driver shortage, leading to long waiting times for customers.

Pornhub: Judge rules Visa can be sued in abuse claim
A woman who was thirteen when an explicit video of her was posted, is suing Mindgeek and Visa.

£400 energy payment: Fears landlords to keep renters' rebate
Where a tenant's bills are included in their rent the energy rebate will be paid to their landlord.

BA extends sales ban on Heathrow short-haul tickets
The airline suspends sales for two weeks in response to the airport's cap on passenger numbers.

Cost of filling a tank falls by £5 in July
But the RAC motoring group warned major retailers should be cutting pump prices further.

Football fans warned to beware of fake ticket scams
The return of the Premier League could see fraudsters trick devoted fans out of hundreds of pounds.

BP sees biggest profit in 14 years as energy bills soar
The firm's profits between April and June more than tripled as oil and gas prices jumped.

Ambani and Adani: Asia's richest men battle to dominate 5G in India
Mukesh Ambani and Gautam Adani are set to compete in the world's second-largest internet market.

UK energy bills forecast to hit £3,615 this winter
Typical energy bills could hit more than £3,600 a year this winter, says analyst Cornwall Insight.

New property register aims to stop money laundering
The move is part of economic sanctions in response to the Russian invasion of Ukraine.

Evergrande: Unit ordered to pay $1.1bn over unpaid debt
It came just two days after the crisis-hit firm outlined plans to restructure its overseas liabilities.

JD Sports loses millions in forced Footasylum sale
The sportswear chain has sold the retailer after just three years following competition concerns.

Oleksiy Vadatursky: Ukraine grain tycoon killed in Russian shelling of Mykolaiv
One of Ukraine's richest men and his wife die in a bombardment of the southern city of Mykolaiv.

Starlink: Why is Elon Musk launching thousands of satellites?
The billionaire's SpaceX company hopes to provide an internet service from space.

Octopus Energy asks government for £1bn to buy Bulb
The firm is seeking the funds, which will be paid back, to take over the collapsed firm.

China signals it could miss economic growth target
It comes as Beijing is pursuing a zero-Covid policy that has put major cities in harsh lockdowns.

Apple and Amazon sales up despite rising prices
The companies are closely watched for signs of how people are spending as the economy slows.

Hershey warns of Halloween treats shortage
Nestle chief executive Michele Buck says the firm "will not be able to fully meet consumer demand".

Instagram U-turns on TikTok-style revamp
The social media platform pauses the rollout of new features after an online community backlash.

US economy shrinks again sparking recession fears
The US economy contracted at an annual rate of 0.9% in the three months to July.

BA owner IAG reports first profit since pandemic began
IAG sees a sharp increase in the number of flights and passengers handled, despite problems at Heathrow.

KitKat maker Nestle puts up prices again
The Swiss food giant has increased prices by 6.5% due to "unprecedented" rises in costs.

Five money saving ideas for parents over summer
The cost of the school summer holiday is worrying many families struggling with rising prices.

Facebook owner Meta in first ever sales fall
The owner of Instagram and WhatsApp faces increased competition from the likes of TikTok.

US makes huge interest rate rise to tame soaring prices
The Federal Reserve is increasing interest rates for a fourth time as it tries to control inflation.

'Starbucks fired me for being three minutes late'
Starbucks is fighting efforts by workers in the US to unionise. Is it winning?

The tech aiming to prevent lost airline luggage
With millions of bags and suitcases going missing this summer, technology may offer the solution.

The rise of repairing: Why more of us are trying to fix things
As the cost of living soars 'repair cafes' are growing in popularity.

Mining boss: 'One person doesn't have all the answers'
Mpumi Zikalala, CEO of Kumba Iron Ore, shares an insight for our CEO Secrets series.

China housing crisis: The people living in unfinished apartments
As Chinese developers spiral into debt, people with nowhere else to live have moved into unfinished apartments.

Are we falling in love with robots?
Far from being scary, people who actually live with robots are finding them endearing.

The plans for giant seaweed farms in European waters
As worldwide sales of the algae soar, the European Union wants to establish giant seaweed farms.

The lockdown side-hustles that turned into full-time businesses
The pandemic turned some people into savvy entrepreneurs but how many have ditched their day job?

Why Australia will work harder to build ties with Indonesia

Can North America's downtowns reverse their downturns?
City centres across the US and Canada are still much quieter than before the pandemic started.

CEO Secrets: Hard Rock Cafe boss on the shift he'll never forget
Jim Allen, chairman of Hard Rock International, shares a story for our CEO Secrets series.
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