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News: Money

Why the super-rich are investing in wine... but that doesn't mean you should take this risky bet too

Saturday  15:40,   23 june 2018

Ultra-rich investors are piling cash into fine art and wine as returns soar. A boom in demand for modern art and classy bottles of vino is pushing up prices – and making profits for investors.A boom in demand for modern art and skilfully crafted[...]

House of Fraser to close stores and slash 6,000 jobs

Saturday  05:45,   23 june 2018

The struggling department store chain secured the backing of more than 75% of creditors, including landlords, for a CVA.The struggling department store chain will close 31 out of its 59 outlets through a Company Voluntary Arrangement (CVA), which[...]

Trader Makes £9m After Practice Account Turns Out To Be The Real Thing

Saturday  05:40,   23 june 2018

Trader Makes £9m After Practice Account Turns Out To Be The Real ThingHarouna Traoré, who’s based in France, opened a £17,000 account with British brokerage Valbury Capital after completing a trading[...]

First beer, now chicken! Shortage warnings as CO2 stocks fall

Friday  14:50,   22 june 2018

First drinks producers were warning about beer - now chicken could also be at risk due to dwindling carbon dioxide (CO2) stocks. The British Poultry Council (BPC) has called on the government and gas producers for help after beer, fizzy drinks and[...]

Sir Martin Sorrell lashes out at WPP for failing to address 'leaks'

Friday  05:05,   22 june 2018

Ad guru Martin Sorrell has hit out at his former employer WPP in his first public appearance since he dramatically quit the company in April. Sorrell resigned after 33 years as the head of the world'sSorrell resigned after 33 years as the[...]

IBM report suggests TSB testing was not rigorous enough before IT meltdown

Friday  04:40,   22 june 2018

Experts brought in to fix computer systems meltdown at TSB did not find evidence of strong enough testing of a planned migration, according to an internal report published today. Consultants from IBMConsultants from IBM told the embattled bank’s[...]

Airbus warns it ‘could quit UK if there is a no-deal Brexit’

Friday  04:30,   22 june 2018

The firm employs 14,000 people at 25 sites across the country.The firm, which employs 14,000 people at 25 sites across the country, said it would “reconsider its investments in the UK, and its long-term footprint in the country” if Britain crashed[...]

Intel CEO resigns after investigation finds he had past relationship with employee

Friday  04:05,   22 june 2018

Intel's CEO resigned in a surprise announcement on Thursday. Intel said that it had discovered he had a "past consentual relationship" with an[...]

May casts doubt on Britain’s status as ‘tier one’ military power

Friday  03:50,   22 june 2018

<p>‘Shockwaves’ at MoD as PM challenges defence secretary to justify spending plans</p>Theresa May has asked Gavin Williamson, the defence secretary, to justify Britain's role as a “tier one” military power, throwing the Ministry of Defence's[...]

Banned BHS auditor 'spent two hours' on file

Friday  02:25,   22 june 2018

The senior auditor who signed off BHS's accounts days before its sale by Sir Philip Green backdated his audit opinion and spent just two hours working on the file, according to an explosive memo from his former employer. Sky News has obtained[...]

Dixons Carphone posts profits plunge in wake of major cyber attack

Thursday  17:51,   21 june 2018

The retailer said there was ‘plenty to do’ after it revealed that millions of bank card details were hacked.The group announced underlying pre-tax profits had fallen by 24% to £382 million for the year to April 28, and warned that cost pressures[...]

May’s Brexit dividend and other myths worth exploding

Thursday  16:31,   21 june 2018

<p>Poor policymaking results from a misguided understanding of the economy</p>Move over Harold Wilson. The late UK prime minister’s fib 51 years ago that “the pound here in Britain, in your pocket” had not been devalued was usurped by Theresa[...]

Instagram launches video streaming service to rival YouTube

Thursday  13:50,   21 june 2018

Instagram, which has surpassed 1 billion users, is entering the video streaming arena, launching a video platform called IGTV. The app is supposed to help the social media platform compete with YouTube.The new app, dubbed IGTV, will increase[...]

The City That Defined Brexit Has Given Up

Thursday  13:08,   21 june 2018

As the consequences of the vote to leave the EU sap Britain’s political energy, the causes of it remain.Getting their voices heard is important to locals in the city that became synonymous with Britain’s vote to leave the European Union. Sunderland[...]

EU plays its trump card on US tariffs

Thursday  11:00,   21 june 2018

The EU has said its retaliatory tariffs on US goods will kick-in from Friday - six weeks after America slapped import duties on the bloc's steel and aluminium products. Officials in Brussels, spearheading the member states' response, said the[...]