Business

Half of employers see UK’s allure fading with Brexit

Half of British employers think the country’s attractiveness as a place to invest and hire will diminish over the next five years as it leaves the European Union, an annual business survey showed on Monday. The Confederation of British Industry (CBI) and recruitment agency Pertemps Network Group said there was scant sign that uncertainty around Brexit had hurt companies’ hiring ... Read More »

Gin distiller Sipsmith bought by Beam Suntory

Japanese spirits conglomerate Beam Suntory is to buy the London craft gin distiller Sipsmith. Beam – which also owns the Jim Beam and Maker’s Mark bourbon brands – will pay an undisclosed sum for the company as it aims to cash in on the rising demand for artisan spirits. Sipsmith is one of hundreds of craft distillers to have set ... Read More »

Pressure on Yahoo grows after massive hack attack

Pressure on Yahoo continued to grow after the internet search giant revealed that it was the victim of another huge hacking attack in 2013. The company’s shares closed down more than 6% on Wall Street on fears that a planned sale to Verizon was in doubt. Politicians and regulators called for action after Yahoo disclosed on Wednesday that more than ... Read More »

Venezuela postpones bank note ban after chaos and cash shortages

Sudden pulling of 100-bolivar note from circulation leads to vast lines at banks, looting, protests and at least one death Venezuelan president Nicolas Maduro on Saturday suspended the elimination of the country’s largest denomination bill, which had sparked cash shortages and nationwide unrest, saying the measure would be postponed until early January. The surprise pulling of the 100-bolivar note from ... Read More »

TUC and businesses urge Theresa May to act on rights of migrants

Leaders say uncertainty over 3.2m EU citizens in UK will inflict ‘serious damage’ on economy British business and the trade union movement have made an unprecedented joint demand to Theresa May to guarantee immediately the rights of European Union migrants to remain in the UK, warning that further uncertainty will inflict serious damage on the British economy. In a strongly ... Read More »

Monte dei Paschi to launch share issue December 19

Troubled Italian bank Monte dei Paschi di Siena (BMPS.MI) will offer new shares for sale between Monday and Thursday in a last ditch attempt to raise 5 billion euros ($5.2 billion) by the end of the year and avoid a state bailout. The European Central Bank has told Italy’s third-largest bank to raise capital this year and offload 28 billion ... Read More »

Top model agencies agencies fined £1.5m for price-fixing

Five top modelling agencies and a trade association have been fined a total of £1.5m for colluding to fix charges. The Competition and Markets Authority (CMA) said they “regularly and systematically” exchanged information and discussed prices. The biggest fine was given to the Storm agency, which has used models such as Kate Moss and Cara Delevingne. Three of the agencies ... Read More »

Telecoms giant to buy stake in cab-hailing firm Careem

Talks aimed at averting a British Airways cabin crew strike over Christmas are to be held on Monday, conciliation service Acas says. Members of the Unite union are due to walk out on Christmas Day and Boxing Day in a row over pay and conditions. An Acas spokesman said BA and Unite had accepted their invitation to attend conciliation talks ... Read More »

Talks to be held over British Airways cabin crew strike

Talks aimed at averting a British Airways cabin crew strike over Christmas are to be held on Monday, conciliation service Acas says. Members of the Unite union are due to walk out on Christmas Day and Boxing Day in a row over pay and conditions. An Acas spokesman said BA and Unite had accepted their invitation to attend conciliation talks ... Read More »

Abu Dhabi becomes top BP shareholder

Abu Dhabi has become one of BP’s biggest shareholders under a deal which gives the oil company a much bigger stake in the emirate’s oil output. BP will take a 10% share in ADCO, which owns onshore oil fields that account for most of Abu Dhabi’s production. The deal will dramatically raise BP’s share of oil and gas production in ... Read More »