Business

Barclays admits PPI compensation error

Image copyright Newscast Barclays has apologised for giving wrong information to tens of thousands of customers who started compensation claims over payment protection insurance (PPI). The bank has admitted telling them they did not hold PPI policies when in fact they did. Barclays said a “very small percentage of customers” who contacted it via claims […]

Business

Mobile phone charges 'unacceptable' says Ofcom

Image copyright Getty Images Mobile operators could soon be forced to reduce monthly bills for customers who have finished paying for their handset. The telecoms regulator Ofcom says around 1.5 million consumers continue to be charged the same monthly fee, even though they should only be paying for the actual calls. It said the practice […]

Business

Boohoo sees huge growth in fast fashion brands

Image copyright PrettyLittleThing Image caption Model Ashley Graham recently unveiled a collection with PrettyLittleThing Online fashion retailer Boohoo has reported strong half-year profits and rapid growth at its fast fashion brands PrettyLittleThing and NastyGal. Boohoo Group revenue jumped 50% to £395.3m and pre-tax profits rose 22% to £24.7m in the six months to 31 August, […]

Business

'Pothole epidemic' hits AA profits

Bad road conditions and extreme weather in the UK have led to a drop in profits at the AA. The motorists’ organisation saw its pre-tax profit decline 65% to £28m for the first six months of 2018. AA boss Simon Breakwell said the severe winter caused a “pothole epidemic”, which contributed to breakdown callouts hitting […]

Business

Are themed bars and pubs the future?

Media playback is unsupported on your device Media captionAt this new themed cocktail bar, magic wands are connected to the Internet of Things. Although some British bars and pubs are struggling, others are thriving by offering customers new experiences. But is the alcohol industry shifting as a whole, or is this just a passing fad? […]

Business

Nike's direct sales play pays off

Image copyright Reuters Nike’s efforts to sell its shoes and clothing directly to consumers are paying off. The firm said revenue rose by 10% in the three months to the end of August, reaching about $9.9bn (£7.5bn). Profits jumped by 15% year-on-year to more than $1tn, lifted in part by direct sales, which cut out […]

Business

Santander appoints new chief executive

Image copyright Getty Images One of Europe’s biggest banks, Banco Santander, has poached the head of investment banking at UBS to be its next chief executive. Andrea Orcell will replace José Antonio Alvarez, who has been at the helm since January 2015. He has been a long-standing adviser to the Botin family that controls Santander. […]