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US accuses Fiat Chrysler of using ‘defeat devices’

US accuses Fiat Chrysler of using ‘defeat devices’

Image copyright Getty Images Image caption The software was allegedly installed in Jeep Grand Cherokees made between 2014 and 2016 and Dodge Ram 1500s. The US government is suing car firm Fiat Chrysler, alleging the firm sold vehicles with “defeat devices” that helped them pass emissions tests. The firm did not disclose the emissions control […]

Will Opec extend output cuts in bid to push up oil prices?

Will Opec extend output cuts in bid to push up oil prices?

Image copyright Getty Images Image caption US shale oil production has become a major competitor for Opec Crude oil is too cheap for the taste of many producers. Energy ministers from Opec, the oil exporters’ group, are meeting at their headquarters in Vienna to do something about it. They will be joined by delegates from […]

Trump’s $4.1tr budget takes hatchet to safety net

Trump’s $4.1tr budget takes hatchet to safety net

Image copyright Reuters The White House has unveiled a $4.1tr (£3.1tr) budget that would take the axe to the social safety net for the poor. The plan would sharply slash food stamps, healthcare for low-income patients and disability benefits, and eliminate student loan subsidies. The budget also features an Ivanka Trump plan for paid parental […]

Further signs of UK property slowdown in April

Further signs of UK property slowdown in April

Image copyright Getty Images There were further signs of a slowdown in the property market in April, as the number of sales fell significantly, while fewer people took out mortgages. The number of residential property transactions in the UK dropped by 22.5% between March and April, according to HM Revenue and Customs (HMRC). Analysis by […]

Apple and Nokia to ‘co-operate’ after settling patent row

Apple and Nokia to ‘co-operate’ after settling patent row

Image copyright PA Apple and Nokia have settled a dispute over the use of patented technology in smartphones and agreed to “co-operate”. In December, Nokia sued Apple claiming the company had breached 32 technology patents covering displays, user interfaces and video encoding. The two companies have now signed a deal allowing Apple to use the […]

Government borrowing at three-year April high

Government borrowing at three-year April high

Image copyright AFP Government borrowing was at its highest April level for three years, according to the latest figures from the Office for National Statistics (ONS). Public sector net borrowing, excluding public sector banks, was £10.4bn last month, up by £1.2bn from April 2016. Public sector net debt was £1.72tn, equivalent to 86% of GDP, […]

Firms pledge to recruit more over-50s

Firms pledge to recruit more over-50s

Image copyright Getty Images Aviva, Barclays, Atos and five other firms have agreed to promote over-50s employment by publishing data about the age of their workforce. They are responding to a call from the government’s Business Champion for Older Workers, Andy Briggs. In February, he asked firms to increase older worker numbers by 12% by […]

Nationwide profits hit by low interest rates

Nationwide profits hit by low interest rates

Image copyright PA Profits have fallen at Nationwide after the building society sought to protect savers from the impact of last year’s interest rate cut. Statutory pre-tax profits for the year to March to £1.054bn, down 17% from last year’s figure of £1.279bn. However, Nationwide said 795,000 new current accounts had been opened in the […]

Ford gears up for the future with new chief executive

Ford gears up for the future with new chief executive

Image copyright Ford Image caption Jim Hackett is the new chief executive of Ford Ford has sacked its chief executive, Mark Fields, following a major reshuffle at the US car giant. His departure comes as Ford faces weak sales, falling profits and a near-40% decline in its share price since Mr Fields took up his […]

RBS court battle with investors adjourned

RBS court battle with investors adjourned

Image copyright Reuters Image caption Former RBS boss Fred Goodwin was dubbed ‘Fred the Shred’ for his aggressive cost-cutting Legal action brought by 9,000 investors who are seeking compensation from Royal Bank of Scotland after losing money on shares has been adjourned for 24 hours. Investors say they were misled over the bank’s financial health […]

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