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News: Money

China eyes role as world’s power supplier

Friday  15:51,   08 june 2018

<p>Beijing promotes global electricity network to absorb huge power surpluses</p>Mr Xie’s job is to find a rational solution for Laos, even as powerful Chinese construction companies vie for more dam contracts in China’s poor southern[...]

Climate Change Can Be Stopped by Turning Air Into Gasoline

Friday  15:01,   08 june 2018

<p>A Harvard professor says his company should be able to suck carbon dioxide out of the atmosphere, at industrial scales, by 2021.</p>A team of scientists from Harvard University and the company Carbon Engineering announced on Thursday that[...]

Sack him! Senior MPs call for TSB boss to be fired over IT shambles that locked 1.9m customers out of their bank accounts

Friday  14:52,   08 june 2018

Chief executive was slammed for being secretive and failing to set out the scale of the problems faced by TSB’s customers after IT meltdown left 1.9m unable to access their accounts. Nicky Morgan, chairman of the Treasury Select Committee, said the[...]

Argentina gets $50bn rescue loan from IMF

Friday  11:30,   08 june 2018

The International Monetary Fund has agreed to give Argentina $50bn (£37bn) in standby loans to tackle soaring inflation that is crippling the economy.   Argentina's peso has tanked by a quarter against the US dollar this year making imports[...]

How this Indiana couple stole $1.2 million from Amazon

Friday  11:20,   08 june 2018

"Their Amazon scheme was their 'job,'" the federal government said.It's the end to a con that Joseph and Leah Jeanette Finan, both 38, had been perpetrating for[...]

Receiving 82 rejection letters taught me one thing about success, says global CEO

Friday  10:35,   08 june 2018

“You name the company, I got rejected from them,” says MediaCom’s global CEO Steve Allan.That was the case for Steve Allan, global CEO of MediaCom, who was hit with 82 rejection letters before he even landed his first[...]

Facebook Says a 'Bug' Changed Millions of Users' Default Privacy Settings to Public

Friday  10:15,   08 june 2018

For ten days in May, a Facebook “bug” changed the default privacy settings of new posts for as many as 14 million users, Recode reports. As a result, posts meant to be shared privately may have instead been shared publicly. Typically, users can opt [...]

Poundworld in last-ditch rescue talks

Friday  09:54,   08 june 2018

A former owner of Little Chef is trying to cook up a last-ditch rescue deal for Poundworld amid increasingly bleak prospects for the bargain retailer and its 5,300 staff. Sky News has learnt that Rcapital has been holdings talks with TPG Capital,[...]

​How millennials became the world’s most powerful consumers

Thursday  19:00,   07 june 2018

<p>They are the biggest global generation — and their choices ​​are upending business​ from the US to China</p>When Scott Norton and Mark Ramadan were undergraduates at Brown university in Rhode Island a decade ago, they were horrified not by[...]

This 18-year-old launched a hedge fund from his bedroom in suburban New Jersey

Thursday  16:51,   07 june 2018

Cole Mattox started North Tabor Capital when he was a junior in high school. In the fall, the young financier is headed to University of Pennsylvania's Wharton School of Business undergraduate program.Mattox founded North Tabor Capital in March[...]

Thames Water to hand back £120m to customers

Thursday  14:20,   07 june 2018

A watchdog says Thames Water customers are to share £120m because of the company's continuing failure to get a grip on leaks. Ofwat said the company had agreed to repay £65m on top of £55m already incurred for missing commitments it had made to [...]

Carillion Collapse Will Cost Taxpayers 'At Least £148m', Says Auditors

Thursday  12:06,   07 june 2018

Taxpayers will foot a bill of at least £148m to clear up after Carillion’s collapse, a damning report of the government’s handling of the crisis has revealed.  The National Audit Office, published on Thursday, sheds fresh light on the timeline[...]

Paul Dacre to quit as Daily Mail editor after 26 years

Thursday  12:02,   07 june 2018

The 69-year-old will become chairman and editor-in-chief of Associated Newspapers.He will “step back” from day-to-day editorial responsibilities by his 70th birthday to become chairman and editor-in-chief of Associated Newspapers, the Daily[...]

WH Smith thanks rail and air passengers for sales boost amid high street slump

Thursday  06:10,   07 june 2018

The retailer’s high street business suffered a 1% decline but airport and station shops saw sales rise 8%.The retailer reported a 4% rise in group sales over the 13 weeks to June 2, while like-for-like sales grew 1%, compared with a year[...]

Alteri ends Poundworld rescue talks

Thursday  06:05,   07 june 2018

The leading contender to take control of Poundworld has ended talks about a rescue deal, casting fresh doubt over the future of the struggling high street retailer and its 5,300-strong workforce. Sky News has learnt that Alteri Investors, which[...]