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City cancels Mansion House dinner after tower tragedy

City cancels Mansion House dinner after tower tragedy

Image copyright Getty Images A City of London event where the Chancellor, Philip Hammond, was due to give a key speech has been cancelled following the Grenfell Tower tragedy. He had been due to speak at the annual Mansion House dinner on Thursday night. Mr Hammond said he had withdrawn from the speech “in view […]

British Airways technology chaos will cost £80m

British Airways technology chaos will cost £80m

Image copyright Getty Images The IT meltdown that grounded thousands of British Airways passengers will cost the airline at least £80m, it has emerged. Willie Walsh, chief executive of BA owner International Airlines Group, told investors its initial assessment of the gross cost “is in the order of £80m”. He promised to provide an update […]

Retail sales fall in May as prices rise

Retail sales fall in May as prices rise

Image copyright Getty Images Retail sales fell in May as shoppers began to feel the effect of higher inflation. The Office for National Statistics said the quantity of goods bought between April and May fell by 1.2%, which was worse than economists had expected. Compared with a year earlier, sales volumes were up by 0.9% […]

Company directors targeted by identity fraudsters

Company directors targeted by identity fraudsters

Company directors are the victims of one in five cases of identity fraud, according to fraud prevention organisation Cifas. They account for 19% of victims of these type of fraud cases, despite making up less than 9% of the UK population. Directors have been targeted directly by scams owing to the potential for con-artists to […]

Worries over care home fees and funding

Worries over care home fees and funding

Image copyright PA Care homes may be charging families for extended periods after a resident has died as well as large upfront fees, a competition inquiry has revealed. The concerns emerged from the initial findings of a review by the Competition and Markets Authority (CMA) which began in December. The CMA has now opened owing […]

Wage growth hit by higher inflation

Wage growth hit by higher inflation

Media captionThe BBC’s Andy Verity on the latest jobs figures The amount of money workers are taking home continues to fall as inflation takes its toll, official figures show. Average earnings fell in real terms by 0.6% in three months to April, compared with the same period last year. Before inflation, earnings rose by 1.7% […]

One in 10 in serious debt ‘have no bed’

One in 10 in serious debt ‘have no bed’

Image copyright Getty Images One in 10 clients of a debt charity have no bed to sleep in and eight in 10 say their financial situation leads to sleepless nights. A review of visitors to Christians Against Poverty also found that three-quarters of them were afraid to open their post. The charity said that the […]

EU court bans dairy-style names for soya and tofu

EU court bans dairy-style names for soya and tofu

Image copyright Getty Images Image caption Soya bean-based foods cannot be given dairy-style names Plant-based foods cannot be sold in the European Union using terms such as milk, butter and cheese, the European Court of Justice has ruled. The ECJ was ruling in a case referred to it by a German court and involving German […]

Airlander 10 reaches ‘highest altitude so far’

Airlander 10 reaches ‘highest altitude so far’

Image copyright Hybrid Air Vehicles Image caption The Airlander 10 took off at 18:15 BST on Tuesday The world’s longest aircraft has successfully completed its fourth test flight, reaching the highest altitude it has attained so far. The Airlander 10 – a combination of a plane and an airship – took off at 18:15 BST […]

UK inflation rate at near four-year high

UK inflation rate at near four-year high

Image copyright PA The rising cost of foreign package holidays and imported computer games helped to push the UK inflation rate up to 2.9% last month from 2.7% in April. The latest inflation rate is the highest since June 2013, and above the Bank of England’s 2% target. The Office for National Statistics said the […]