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 […]

Business

High Street woes hit 22,000 jobs in 2018

Image copyright Getty ImagesImage caption Poundworld went into administration last month Nearly 22,000 jobs have been hit on the UK’s struggling High Streets this year. BBC 5 live’s Wake Up To Money has been tracking shop closures and retail administrations and found that more than 7,000 people have lost their jobs. A further 9,500 roles […]

Business

Tata Steel and Thyssenkrupp merger welcomed by unions

Image copyright Getty ImagesImage caption Tata owns the UK’s largest steelworks at Port Talbot Unions have welcomed a merger between Tata Steel and Thyssenkrupp which will create Europe’s second-biggest steelmaker. The deal will mean Indian-owned Tata’s UK plants are merged into a pan-European venture, which includes the UK’s biggest steelworks at Port Talbot. Tata said […]

Business

Virgin Atlantic stops accepting forced deportations

Image copyright Getty Images Virgin Atlantic is to stop working with the Home Office on forcible deportations from the UK of people deemed to be illegal immigrants. The British airline says it has informed the government of its decision, saying it was “in the best interest of our customers and people”. It comes amid concern […]

Business

Electric car buyers claim they were misled by Nissan

Image copyright AFPImage caption John Weatherley says Nissan exaggerated the facts about the Leaf Owners of Nissan’s new electric Leaf say they were given misleading information about the car before buying it. They say charging the Leaf can take three times longer than claimed on Nissan’s website. Others are unhappy that the range on a […]

Business

Canada ‘will not back down’ over US metals tariffs

Image copyright Reuters Canada will “not back down” in the face of new US tariffs on steel and aluminium, according to the country’s foreign minister. Chrystia Freeland spoke as officials unveiled a C$2bn (US$1.5bn; £1.15bn) package to support the country’s steel and aluminium industries. Retaliatory tariffs on C$16.6bn worth of US products are due to […]

Business

CO2 shortage: No crumb of comfort as crumpets affected

Image copyright Warburtons Football fans unimpressed with this evening’s result, and who turn to the toaster for some post-match comfort, may find themselves disappointed in that quarter too. The UK’s largest producer of crumpets ,Warburton’s, has had to halt production at two of its four plants. The firm has run out of carbon dioxide which […]

Business

BAE wins multi-million pound Australian warship contract

Image copyright BAE Systems British defence giant BAE Systems has won a multi-million pound contract from the Australian government to build nine new warships, marking a significant victory for British military exports. BAE beat Italian and Spanish rivals to win a large slice of the £20bn spending programme. The ships will be built in Australia, […]