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Barclays sets aside extra £700m for PPI

ByNathan BissittJuly 28, 2017

Barclays has set aside an extra £700m to meet compensation claims for mis-selling payment protection insurance.The news came as the bank said costs related to the sale of part of its Africa unit had pushed it into a £1.2bn loss in the first half of the year.The sale

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British Airways owner IAG says IT chaos cost £58m

ByNathan BissittJuly 28, 2017

The IT failure at British Airways in May that left thousands unable to check in baggage cost it 65m euros (£58m), the airline’s owner, IAG, has said.About 75,000 passengers faced severe disruption when BA’s system failed over the second Bank Holiday

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Italian scandal hits BT profits in first quarter

ByNathan BissittJuly 28, 2017

BT has reported a 42% fall in Q1 profits due to a settlement with Deutsche Telekom and Orange over an Italian accounting scandal. The German and French groups had bought into BT when they sold their joint venture, mobile operator EE, to the business. BT, which

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IAG profits surge despite IT failure in May

ByNathan BissittJuly 28, 2017

Profits for British Airways owner IAG have surged, despite the costs from a massive IT failure that caused travel problems in May. International Airlines Group reported that its operating profit before exceptional items in the six months to June 30 was up 37% to €975m

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Govt 'dragging heels' over post-Brexit funding

ByNathan BissittJuly 28, 2017

Council leaders say the Government is dragging its heels over a promise to replace billions of pounds of European funding after Brexit. Some €10.5bn of European Union structural and investment funds have been allocated to local authorities for spending between 2014

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Barclays sets aside £700m more for PPI claims

ByNathan BissittJuly 28, 2017

Barclays has allocated an extra £700m to pay compensation claims for the mis-selling of payment protection insurance. The news came as the banking group reported a £1.2bn loss for the first half of 2017 after the sale of part of its business in Africa. However, if

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Starbucks to own 100% of its China stores after buyout deal

ByNathan BissittJuly 28, 2017

Starbucks is to take full ownership of all its China outlets, after agreeing to buying out its joint venture partner for $1.3bn (£994m).The deal will see it acquire the 50% stake it does not already hold in 1,300 stores in Shanghai and the provinces of Jiangsu and

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Clean garbage?

ByNathan BissittJuly 27, 2017

The clock may be ticking for petrol and diesel-powered cars, but it’s vans, trucks and buses that are driving the electric vehicle revolution on the world’s roads.This week the UK government followed France in announcing it would ban the sale of such

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How the Slinky became a million dollar idea

ByNathan BissittJuly 27, 2017

The Slinky – that magic metal coil which climbs down stairs – has been a favourite Christmas stocking-filler for over 60 years. But it was never designed to be a toy. The BBC’s Aaron Heslehurst explains the twists and turns behind its creation.Video

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Amazon profits are sharply lower as it invests overseas

ByNathan BissittJuly 27, 2017

Amazon sales rose in the second quarter but profits plunged, as the e-commerce giant spent heavily in a bid to become the go-to shop globally for everything from food to television. The Seattle firm earned $197m (£151m) in profit in the three months to the end of