Business

MEPs reject controversial copyright law

Image copyright Getty ImagesImage caption MEPs have been subject to fierce lobbying by both those who favoured and those who opposed the legislation MEPs have voted to reject a controversial copyright law in its current form, deciding to return to the issue in September. The law would have put a greater responsibility on individual websites […]

Business

Carney upbeat on UK growth prospects

Image copyright Getty Images The Bank of England governor now has more confidence in the UK economy, in a speech which could stoke expectations of an interest rate rise in August. Mark Carney said recent data had given him “greater confidence” that weak first-quarter growth “was largely due to the weather”. He said household spending […]

Business

Water companies have damaged trust, regulator Ofwat says

Image copyright Scott Barbour/Getty Images High levels of payments to bosses and investors by water companies have damaged customer trust, the regulator Ofwat has said. It has published new rules that will force firms to explain how executive pay is linked to performance and to prioritise customers’ interests. Companies paying dividends above 5% will have […]

Business

Glencore shares dive on money-laundering probe

Image copyright Getty Images Shares in mining giant Glencore have sunk 12% after it was ordered by US authorities to hand over documents relating to a money laundering probe. The subpoena from the US Department of Justice is in relation to compliance with the Foreign Corrupt Practices Act and money-laundering laws. It is regarding business […]

Business

KPMG’s audit of collapsed drinks firm Conviviality faces probe

Image copyright Reuters The Financial Reporting Council is looking into into KPMG’s audit of ex-Bargain Booze owner Conviviality, which went into administration in April. The watchdog is investigating the preparation of the company’s financial statements for the year to April 2017. A KMPG spokesperson said it believed its audit was conducted correctly. Conviviality sold its […]

Business

Poundworld rescue deal at risk, claims founder

Image copyright PA The founder of Poundworld has said that the discount retailer’s administrator is putting a rescue plan at risk by dragging its feet over striking a deal. Deloitte was appointed as the administrator of Poundworld in June after talks with a buyer failed. Chris Edwards says he made an offer four weeks ago, […]

Business

Elon Musk calls Tesla ‘a real car company’

Image copyright Reuters Tesla is finally “a real car company”, chief executive Elon Musk has said, after hitting a target to build 5,000 Model 3 electric cars in a week. In an email, Mr Musk praised staff for reaching the much-delayed goal, helped by setting up production in a tent. “Intense in tents. Transporting entire […]