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IMF: US tariffs could undermine global trade

IMF: US tariffs could undermine global trade

Image copyright EPA Image caption IMF head Christine Lagarde has already warned that the US and China trade row threatens global confidence and investment The Trump administration’s trade policies are likely to hurt the US economy and undermine the world’s trade system, the IMF has warned. IMF Director Christine Lagarde said a trade war would […]

Dogfight at Stobart Group as former boss sacked from board

Dogfight at Stobart Group as former boss sacked from board

Stobart Group has sacked former boss Andrew Tinkler from the board in the latest twist in a bitter power struggle at the owner of Southend and Carlislie airports. The firm is suing Mr Tinkler to court for “breach of contract and breach of fiduciary duty”, it said. Mr Tinkler claimed the board had defamed him […]

Banks close 2,900 branches in three years, says Which?

Banks close 2,900 branches in three years, says Which?

Image copyright Getty Images Image caption Branches are shutting at an alarming rate, says Which? About 60 bank branches are closing every month with RBS shutting the most, consumer group Which? has warned. It found that 2,868 branches will have closed between 2015 and the end of 2018, with the number accelerating this year. It […]

Rolls-Royce announces 4,600 job cuts

Rolls-Royce announces 4,600 job cuts

Image copyright PA Image caption The jet engine-maker says it needs fewer layers of management Engineering firm Rolls-Royce is to cut 4,600 jobs over the next two years as part of a major reorganisation. Middle managers and back-office staff are to bear the brunt of the cuts, which are expected to hit its Derby base […]

ECB to end crisis-era stimulus programme in December

ECB to end crisis-era stimulus programme in December

Image copyright Reuters The European Central Bank (ECB) has confirmed it will end a huge programme to stimulate the eurozone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, as long as economic data remains favourable. The move is a major step towards dismantling the policies brought in to stabilise […]

Simply Be and Jacamo owner N Brown mulls closing all stores

Simply Be and Jacamo owner N Brown mulls closing all stores

Image copyright Jacamo The company behind the Simply Be and Jacamo clothing brands, N Brown, has said it is considering closing its 20 remaining shops and becoming a pure online retailer. The decision – which concerns 12 dual-brand Simply Be and Jacamo outlets and eight High and Mighty stores – puts 270 jobs at risk. […]

Royal wedding and hot weather boost retail sales

Royal wedding and hot weather boost retail sales

Image copyright Reuters The hot weather and royal wedding celebrations contributed to another strong rise in retail sales last month, official figures have indicated. Retail sales volumes rose 1.3% in May from the month before, the Office for National Statistics said, following April’s increase of 1.8%. Sales in May were up 3.9% from the same […]

Federal Reserve raises interest rates

Federal Reserve raises interest rates

Image copyright AFP/Getty Image caption Federal Reserve Chair Jerome Powell is presiding over a sea change in US policy The US Federal Reserve has voted to raise the target for its benchmark interest rate by 0.25%, citing solid economic expansion and job gains. The widely-anticipated decision will lift the target for the central bank’s benchmark […]

Unions in World Cup match plea to bosses

Unions in World Cup match plea to bosses

Image copyright Reuters Image caption Not all England fans can make the journey to Russia As the World Cup gets under way in Russia, the UK’s trade unions have urged bosses to be flexible with staff who want to follow the football action. The TUC says workplaces that operate flexible working can allow staff to […]

Diesel emissions scandal: VW fined €1bn by German prosecutors

Diesel emissions scandal: VW fined €1bn by German prosecutors

Image copyright Getty Images Car giant Volkswagen has been fined €1bn (£880m) by German prosecutors over its diesel emissions scandal. The Braunschweig public prosecutor found VW had sold more than 10 million cars between mid-2007 and 2015 that had emissions-test-cheating software installed. The car firm said it did not plan to appeal against the fine. […]