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Sir Philip sold BHS to dodge pension cost, says regulator

Sir Philip sold BHS to dodge pension cost, says regulator

Image copyright PA Image caption Sir Philip Green gives evidence to the Business, Innovation and Skills Committee and Work and Pensions Committee on the collapse of BHS. The controversial businessman Sir Philip Green sold the BHS business to dodge responsibility for its insolvent pension schemes if the firm should go bust, says the Pensions Regulator. […]

Mobiles ‘fast replacing’ bank branch visits

Mobiles ‘fast replacing’ bank branch visits

Image copyright Getty Images Image caption The traditional image of bank branches is a little like this scene from the 1970s Typical consumers will visit a bank branch four times a year by 2022, turning instead to their mobile phones for services, according to forecasts. At present, people visit seven times a year on average, […]

Global ransomware attack causes chaos

Global ransomware attack causes chaos

Image copyright Screenshot Image caption Many reports suggest that screens around the world are getting this message, indicating a ransomware attack is to blame. Companies across the globe are reporting that they have been struck by a major ransomware cyber-attack. British advertising agency WPP is among those to say its IT systems have been disrupted […]

Britain’s best and worst shopping districts ranked

Britain’s best and worst shopping districts ranked

Image copyright Harper Dennis Hobbs Image caption Shields Road, Byker, is Britain’s least vibrant shopping district, according to new rankings Shields Road in Byker, Newcastle-upon-Tyne is the least attractive location to open a shop, according to a list ranking Britain’s retail centres. Property advisors, Harper Dennis Hobbs judged 1,000 shopping districts on how well the […]

Savers face ‘never-ending battle’

Savers face ‘never-ending battle’

Image copyright PA Nine out of 10 easy access savings accounts pay interest of less than 1% – exposing a “fundamental flaw” in the market, Moneyfacts has said. The financial information service said that there was a lack of competition among the biggest banks, which account for 70% of the market. The cost of living […]

Bank of England takes action over bad loans

Bank of England takes action over bad loans

Image copyright PA Image caption Mark Carney stressed that the UK financial system has strengthened The Bank of England has forced banks to find a further £11.4bn in the next 18 months to beef up their finances against the risk of bad loans. Banks will have to set aside £5.7bn in the next six months […]

IMF cuts forecasts for US economic growth

IMF cuts forecasts for US economic growth

Image copyright Getty Images The International Monetary Fund (IMF) has cuts its growth forecasts for the US economy due to uncertainty about White House policies. It now expects growth of 2.1% in 2017 and 2018, against earlier estimates of 2.3% in 2017 and 2.5% in 2018. The forecast is also below the 3% rate targeted […]

Cash ‘lives on’ after 50 years of ATMs

Cash ‘lives on’ after 50 years of ATMs

Image copyright PA Cash will remain a part of our day-to-day lives for decades, the Bank of England’s chief cashier has said on the 50th anniversary of the ATM. Victoria Cleland said that although the use of notes and coins in transactions is falling, cash is part of all the Bank’s future plans. She pointed […]

Shares in Grenfell cladding maker sink

Shares in Grenfell cladding maker sink

Image copyright Arconic Shares in the company that made the cladding used on Grenfell Tower have fallen sharply in New York. Arconic, formerly known as Alcoa, fell more than 7% to $23.76 after the firm said it would stop selling Reynobond PE cladding for use in high-rises. A fire on 14 June killed dozens of […]

Holland & Barrett sold for £1.8bn to Russian billionaire

Holland & Barrett sold for £1.8bn to Russian billionaire

Image copyright H&B Holland & Barrett, the UK’s biggest health food retailer, is being bought by a Russian billionaire for £1.8bn. L1 Retail, a fund controlled by Mikhail Fridman, is buying the 1,150-store chain from Carlyle, the US private equity firm, the Financial Times reported. Carlyle acquired Holland & Barrett as part of its $3.8bn […]

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