Business

The £50 note is changing and here’s why

Image copyright Getty Images The £50 note will not be scrapped and will instead get a plastic redesign, the Bank of England has said. Fears that the largest denomination was widely used by criminals and rarely for ordinary purchases had prompted a proposal to abolish it. But ministers said the new version, to be printed […]

Business

The business behind Michelin stars

Image copyright MichelinImage caption Gordon Ramsay gave out the new Michelin Stars for 2019 Michelin is probably best known as the company that bestows stars on restaurants to signify their excellence. Gordon Ramsay, awarding the Michelin stars for UK & Ireland 2019, described the event last week as the “Oscars of the restaurant industry”. Receiving […]

Business

US bank gains help lift share markets

Image copyright Getty Images Three of the biggest US banks reported strong profits on Friday, helping to lift US share markets after several days of steep declines. The Dow Jones Industrial Average and S&P 500 closed up more than 1%, while the Nasdaq leapt nearly 2.3%. The increases followed a rise on global markets. The […]

Business

China car sales slump ripples globally

Image copyright Getty ImagesImage caption Car sales in China declined in September for the third month in a row Car sales in China fell 11.6% in September to 2.4 million – the third month in a row of year-on-year decline. The deceleration comes amid a slowdown in China’s economy and has pinched performance at vehicle […]

Business

Patisserie Valerie saved by cash injection

Image copyright Getty Images Patisserie Valerie has been saved from collapse after entrepreneur Luke Johnson, who owns 37% of the company, provided £20m in loans to the struggling chain. Mr Johnson agreed to lend £10m for three years to owners Patisserie Holdings plc, which the company said would provide “immediate liquidity”. He has also provided […]

Business

Patisserie Valerie warns it is on the brink of collapse

Image copyright Getty Images The owner of Patisserie Valerie has said the cafe chain needs “an immediate injection of capital” to continue trading in its current form. The stark statement to investors comes after the firm uncovered “significant, and potentially fraudulent, accounting irregularities”. It also belatedly discovered HMRC filed a winding-up petition against one of […]

Business

Google Pixel 3 phones launch during privacy storm

Image copyright GoogleImage caption Google has opted to keep to one rear camera on the new phones despite an industry trend for two or more Google has launched its latest smartphones under the shadow of a data exposure scandal. The Pixel 3 handsets introduce new photography features including a much higher-quality digital zoom than before. […]

Business

Uber drivers stage UK strikes over pay and conditions

Image copyright Josiah Mortimer Uber drivers are staging strikes in several UK cities in a protest over pay and working conditions. “Hundreds” of drivers are expected to switch off their apps from 1pm, making themselves unavailable for work, union organisers said. Protests are also being held outside the ride-hailing app’s offices in London, Nottingham and […]