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UK inflation rate rises for first time since November

UK inflation rate rises for first time since November

Image copyright Getty Images Image caption Higher transport costs contributed to the rise in inflation last month UK inflation rose to 2.5% in July, after holding steady at 2.4% in the previous three months as the cost of transport and computer games increased. It was the first jump in the Consumer Prices Index (CPI) measure […]

RBS comes bottom of bank league tables

RBS comes bottom of bank league tables

Image copyright Getty Images Fewer than half of Royal Bank of Scotland’s customers would recommend its customer service to friends and family, according to rankings published for the first time. The Competition and Markets Authority has published the figures in a bid to increase competition in the sector. RBS is joint bottom of the personal […]

Chief executive pay jumps 11% to almost £4m last year

Chief executive pay jumps 11% to almost £4m last year

Image copyright Thinkstock Chief executive pay rose by 11% last year to almost £4m – much higher than rises for workers, a new report found. The rise came despite criticism from investors and government about excessive salaries, the Chartered Institute of Personnel Development (CIPD) said. The highest total payout was £47.1m for Jeff Fairburn, chief […]

Rail fares rises: Grayling pleads with unions and train firms

Rail fares rises: Grayling pleads with unions and train firms

Image copyright Getty Images The rail industry should change how it calculates fare rises and staff wages to cut costs for passengers, Transport Secretary Chris Grayling has said. He has asked train operators and unions to use a different inflation measure, the Consumer Prices Index (CPI), to determine rail fare and wage increases. This is […]

Card payment problems at Marks & Spencer

Card payment problems at Marks & Spencer

Image copyright Getty Images Marks & Spencer is having a problem accepting card payments in around a quarter of its stores. Some stores are currently unable to take credit or debit card payments, while others had limited tills available to take card payments, a spokesperson for the chain said. They blamed “technical difficulties with our […]

Tinder’s founders and former boss sue dating app owners

Tinder’s founders and former boss sue dating app owners

Image copyright AleksandarNakic Tinder’s parent companies have been accused of undervaluing the dating app, cheating executives out of billions of dollars worth of stock options. A group of 10 current and former top staff – including the firm’s co-founders and former boss – made the claim in a lawsuit filed in New York. They are […]

Homebase plans to close 42 stores and cut 1,500 jobs

Homebase plans to close 42 stores and cut 1,500 jobs

Image copyright Getty Images DIY retailer Homebase has announced plans to close 42 stores, putting up to 1,500 jobs at risk. Restructuring company Hilco, which bought the DIY chain for £1 in May, confirmed it was planning a Company Voluntary Arrangement (CVA). It bought the struggling chain from Australia’s Wesfarmers after its disastrous foray into […]

UK unemployment at lowest since 1975

UK unemployment at lowest since 1975

Image copyright Getty Images UK unemployment fell by 65,000 to 1.36 million in three months to June – the lowest for more than 40 years, official figures from the Office for National Statistics (ONS) show. They also show a rise in productivity, but a slowdown in wage growth. Wages, excluding bonuses, grew by 2.7% in […]

Homebase set to close 42 stores

Homebase set to close 42 stores

Image copyright Getty Images DIY retailer Homebase is set to to announce plans to close 42 stores, putting about 1,500 jobs at risk. Restructuring company Hilco, which bought the DIY chain for £1 in May, is expected to confirm its plans for a Company Voluntary Arrangement (CVA) on Tuesday. It bought the struggling chain from […]

Elon Musk says Saudis back Tesla buyout

Elon Musk says Saudis back Tesla buyout

Image copyright Getty Images Elon Musk has outlined his plan to take Tesla private and said he discussed financing the deal with Saudi Arabia. The founder of the electric carmaker also indicated that he would need to raise far less than the $70bn it has been estimated he would need. In a blog post, Mr […]