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TSB crisis: No end in sight for customers

Image copyright PA Online payment problems are continuing for frustrated TSB customers – five weeks on from the IT switchover that has caused a crisis at the bank. Some current account customers and some business clients still face problems making internet or app payments. The bank said experts from computing giant IBM, called in during […]

Homebase sold for £1 as DIY disaster ends for Wesfarmers

Image copyright Newscast The Australian owner of Homebase has sold the DIY chain for £1, ending its disastrous foray into the UK. Wesfarmers paid £340m for the retailer two years ago, but losses and other costs will bring its total bill to about £1bn. The chain is being bought by restructuring specialist Hilco, which rescued […]

Netflix eclipses Disney in market milestone

Image copyright AFP/Getty Image caption Netflix boss Reed Hastings speaks in January at the Consumer Electronics Show in Las Vegas. Netflix formally claimed the title of most valuable media company in the world on Thursday, at least for a bit. Shares in the online streaming giant rose more than 2% in mid-afternoon trading, pushing the […]

Where are the richest households in the UK?

Image copyright Getty Images The sharp differences in household incomes across the UK have been set out in official government statistics. The average disposable income per person (the ONS calls this household income), once taxes and benefits are accounted, was £19,432 in 2016. But in Kensington & Chelsea and Hammersmith & Fulham in west London […]

McDonald’s sees off plastic straw campaign

Image copyright Getty Images McDonald’s shareholders have rejected a proposal asking the firm to report on its use of plastic straws, the latest part of a campaign pressing the firm to ban the items. The idea, which was backed by activist group SumOfUs, won less than 8% of the vote at the company’s annual meeting. […]

Brexit: UK official warns EU over talks ‘insult’

Image copyright EPA UK officials have warned the EU that its approach to Brexit negotiations risks damaging its security and economic relationship. It comes as a senior EU official said the UK was living in a “let’s just keep everything we have now… fantasy”. A UK official described those remarks as “laughable” and warned against […]

Retail sales bounce back in April

Image copyright Reuters Retail sales rose by a better-than-expected 1.6% in April as consumers resumed spending after unseasonably cold weather earlier in the year. Petrol sales surged 4.7% after falling 6.9% in March after widespread snow disruption, official statistics show. Only department stores reported a decline, with sales volumes down 0.9%. However, Rob Kent-Smith of […]

GDPR quiz: How will data privacy law affect you?

Tougher data privacy rules come into effect on Friday, impacting any organisation handling personal information linked to EU residents. The General Data Protection Regulation (GDPR) is pretty complex and it looks like many firms are still struggling to understand what it means for them, even at this late stage. Many members of the public are […]

‘Beast from the East’ bites B&Q

Image copyright Kingfisher The wave of cold weather dubbed the Beast from the East took a big bite out of B&Q’s sales in the three months to 30 April, its owner Kingfisher has said. Like-for-like sales at the DIY chain tumbled 9% in the UK and Ireland. The woe was not contained to the UK […]

Brexit: Technology-based customs system ‘could cost £20bn’

Image copyright Getty Images The post-Brexit customs system favoured by Boris Johnson and other leading Brexiteers could cost businesses up to £20bn a year, officials have suggested. The chief executive of HM Revenue and Customs told MPs firms would have to pay £32.50 for each customs declaration under the so-called “max fac” solution. Jon Thompson […]

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