Business

Wonga: Where have all the borrowers gone?

Image copyright Reuters Katie was a student with a small maintenance loan, an occasional job, and a growing uneasiness about her finances. She went to a series of payday lenders – including the biggest, Wonga – to help her make ends meet. Instead, the high cost of this short-term credit just made matters worse. With […]

Business

California pushes to put women on company boards

Image copyright Getty Images Politicians in California want listed companies based in the state to have at least one woman on their boards. The state’s assembly voted in favour of the idea on Wednesday and the bill is expected to pass California’s senate, which has backed an earlier version. It would then go to the […]

Business

Argentina asks IMF to release $50bn loan as crisis worsens

Image copyright Reuters Image caption The opposition blames President Macri’s centre-right policies for the recession Argentina’s government has unexpectedly asked for the early release of a $50bn (£37.2bn) loan from the International Monetary Fund. An economic crisis has led to rampant inflation and the Argentine peso has lost 40% of its value so far this […]

Business

Venezuela seizes Smurfit Kappa plant

Image copyright Mike Ellis / Smurfit Kappa The Venezuelan government has seized control of a plant belonging to Smurfit Kappa, the Irish packaging company has confirmed. On 21 August, the plant was seized and two managers were arrested. Venezuela claims that Smurfit Kappa engaged in price speculation, smuggling and refusing to sell to local businesses. […]

Business

US challenges Russia tariff retaliation

Image copyright Getty Images Image caption Russia was the second highest exporter of aluminium to the US after Canada in 2017 The US has filed a complaint against Russia at the World Trade Organisation (WTO), challenging the retaliatory duties that Moscow has placed on US imports as trade tensions rise. It is the latest US […]

Business

Elon Musk reignites Twitter slur controversy

Image copyright Getty Images Image caption Elon Musk frequently replies to others’ comments on Twitter Elon Musk has tweeted again about a man he had previously accused of being a child abuser. “You don’t think it’s strange he hasn’t sued me? He was offered free legal services,” Tesla’s chief posted. The tweet comes more than […]

Business

One year left for PPI compensation claims

Image copyright FCA Image caption Arnold Schwarzenegger’s head featured in some FCA adverts Loan customers mis-sold payment protection insurance (PPI) have exactly a year left to make a claim for compensation. The Financial Conduct Authority (FCA) set a deadline of 29 August 2019 for the final PPI claims to be made. So far, £31.9bn has […]

Business

UK regulator Ofcom bans Saudi Arabia TV advert

Image copyright Getty Images Image caption Crown Prince Mohammed bin Salman is attempting to diversify Saudi Arabia’s economy The UK’s broadcasting regulator has ruled that a television advert for Saudi Arabia breached its rules on political advertising. The advert, which ran on Sky, promoted the country’s Vision 2030 reform agenda and featured images of women […]

Business

Aston Martin confirms stock market plans

Image copyright Aston Martin Image caption The Aston Martin DB11 was introduced in 2016 Luxury carmaker Aston Martin says it may float on the London stock market, completing a turnaround that has seen the firm boost sales and profits. The flotation would be the first by a UK carmaker for years, following the sale of […]

Business

British Gas pays £2.65m over invalid fees and charges

Image copyright PA British Gas has paid £2.65m in refunds, compensation and redress after wrongly overcharging more than 94,000 customers who switched to new providers. According to the regulator Ofgem, British Gas charged customers its more expensive standard variable tariff rate after they decided to switch to a new supplier, due to a system error. […]