Business

Can Venezuela halt hyperinflation?

Image copyright ReutersImage caption The amount of currency needed to buy a chicken at a market in Caracas last week before the Venezuelan currency was devalued. What does hyperinflation look like? It could well be this photograph of a raw chicken dwarfed by the huge piles of banknotes needed to buy it. This particular purchase […]

Business

Government’s July surplus at 18-year high

Image copyright Getty Images The government’s finances were in surplus by £2bn last month, the biggest surplus for July in 18 years, official figures show. The figure was up from a surplus of £1bn a year ago. At the same time, borrowing in the April-to-July period fell to its lowest level since 2002. Analysts said […]

Business

Businessman Richard Cousins ‘leaves £41m’ to Oxfam

Image copyright PA/Social mediaImage caption Richard Cousins (centre) was killed in a plane crash along with his two sons, Edward (left) and William (right) A multi-millionaire catering boss has left a “substantial amount” of money to Oxfam after dying alongside his family in a plane crash. The Sun reports that Richard Cousins left £41m to […]

Business

Superdry founder’s £1m Brexit vote pledge

Image copyright Getty ImagesImage caption Julian Dunkerton says Brexit would have prevented Superdry from becoming a success One of the co-founders of the fashion label Superdry has donated £1m to the campaign for another EU referendum. Multi-millionaire Julian Dunkerton said he was backing the People’s Vote campaign because “we have a genuine chance to turn […]

Business

Eurozone bailout programme finally over

Image copyright Getty ImagesImage caption Prime Minister Alexis Tsipras says Greece is “turning a page” in ending its bailout programme The eurozone passes an important milestone on 20 August. The date marks the formal end of the bailout of Greece. It is the final country to be receiving emergency loans in the wake of Europe’s […]

Business

Brexit: Government set to publish no-deal advice

Image copyright ReutersImage caption Dominic Raab will travel to Brussels on Tuesday for talks with Michel Barnier The government is set to publish the first in a series of technical notices designed to prepare the UK for the possibility of a no-deal Brexit. The notices will include advice for businesses, citizens and public bodies. Brexit […]

Business

Public ‘back’ taxes to tackle single-use plastic waste

Image copyright PA There is high public support for using the tax system to reduce waste from single-use plastics, the Treasury says. A consultation on how taxes could tackle the rising problem and promote recycling attracted 162,000 responses. Treasury Minister Robert Jenrick said the government was looking at “smart, intelligent incentives” to get plastic producers […]

Business

Trump calls for end to quarterly reporting

Image copyright ReutersImage caption US President Donald Trump tweeted his support for reducing financial data reporting for US companies to “improve flexibility” Donald Trump has called for US companies to issue financial reports just twice a year rather than four times. The US President said he has asked the Securities and Exchange Commission to consider […]

Business

Musk was ‘not on weed’ when tweeting

Image copyright Reuters Elon Musk has attempted to explain his controversial tweet about taking Tesla private, saying he was “not on weed” at the time. The electric carmaker’s founder has been facing intense scrutiny about the 7 August tweet which said he wanted to take Tesla private at $420 a share. He told the New […]

Business

Durham University to spend £105m on new colleges

Image copyright Durham UniversityImage caption The university already has 16 colleges Durham University is to create two new colleges to the south of the city at a cost of £105m, it has confirmed. A consortium led by construction and services firm Interserve will design, build and operate the colleges at Mount Oswald, which are due […]