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Building society’s account deadline axed

Building society’s account deadline axed

Image copyright YBS A deadline for the closure of current accounts with the Norwich and Peterborough (N&P) has been cancelled, with 30% of customers still to receive letters explaining the move. It was announced in January that the building society’s brand is to be abolished, some branches closed, and current accounts shut down. The plan […]

Tesco is raising store staff pay by 10.5% over two years

Tesco is raising store staff pay by 10.5% over two years

Image copyright Getty Images Hourly pay rates for Tesco store staff will rise by 10.5% over the next two years, the supermarket has said. But pay remains lower than at Aldi and Lidl and overtime pay on Sundays and Bank Holidays is being cut. Currently Tesco workers are paid £7.62 an hour, which will rise […]

Watchdog clamps down on online gambling

Watchdog clamps down on online gambling

Image copyright Getty Images The competition regulator is to take action against some online gambling companies which it suspects of breaking consumer law. The Competition and Markets Authority (CMA) said some punters did not get the deal they expected from sign-up promotions offering cash bonuses to attract them to gaming websites. The CMA also said […]

Troubled Toshiba flags deeper losses

Troubled Toshiba flags deeper losses

Image copyright Getty Images Ailing electronics giant Toshiba has said its losses for 2016 may be greater than it had previously forecast. It now predicts a net loss of 995bn yen (£7bn) for the year to March, up from its earlier estimate of 950bn yen. The firm was demoted to the second tier of the […]

ECB bids for more euro clearing oversight

ECB bids for more euro clearing oversight

Image copyright Getty Images Image caption London is the world leader for clearing all types of currency-denominated derivatives The European Central Bank has put forward a proposal to boost its oversight over euro clearing. The legal amendment would give it a “significantly enhanced” role in regulating the lucrative market. London currently processes most of the […]

Fed: US banks have money for crisis

Fed: US banks have money for crisis

Image copyright ANDREW CABALLERO-REYNOLDS/AFP/Getty The 34 largest banks in the US have money on hand to withstand a severe recession, the US central bank said on Thursday. The finding comes from an annual “stress test” conducted by the Federal Reserve. The tests were put in place after the financial crisis to strengthen financial capacity in […]

Facebook launches initiative to fight online hate speech

Facebook launches initiative to fight online hate speech

Image copyright Reuters Image caption Facebook says it will support and train NGOs to spot and respond to hate speech and extremism Facebook is launching a UK initiative to train and fund local organisations to combat extremism and hate speech. It comes a week after the social network announced steps of its own to remove […]

Virgin Media urges password change over hacking risk

Virgin Media urges password change over hacking risk

Image copyright Getty Images Virgin Media has told 800,000 customers to change their passwords to protect against being hacked. An investigation by Which? found that hackers could access the provider’s Super Hub 2 router, allowing access to users’ smart appliances. A child’s toy and domestic CCTV cameras were among the vulnerable devices. Virgin Media said […]

HS2 franchise: Bidder shortlist revealed

HS2 franchise: Bidder shortlist revealed

Image copyright PA Image caption An artist’s impression of how the new link will look The companies bidding for the West Coast Partnership rail franchise, which will design and run the HS2 high speed services between London and Birmingham, have been revealed. The Department for Transport (DfT) said First Trenitalia West Coast, MTR West Coast […]

Fruit and veg farmers facing migrant labour shortages

Fruit and veg farmers facing migrant labour shortages

Media captionFruit farmers are finding it hard to recruit pickers UK summer fruit and salad growers are having difficulty recruiting pickers, with more than half saying they don’t know if they will have enough migrant workers to harvest their crops. Many growers blame the weak pound which has reduced their workers’ earning power, as well […]

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