Image copyright Getty Images A change in how student loans are recorded in the public finances will add £12bn to the deficit, after a ruling by the Office for National Statistics. The amount expected not to be repaid, which could be 45% of lending, will now be reported as public spending. This bigger impact on …

Image copyright Getty Images Energy firm SSE has scrapped its plan to merge its retail business with rival Npower, blaming “very challenging market conditions”. The deal would have created the UK’s second-biggest energy supplier. The two said last month they would have to renegotiate the deal, which had been cleared by the regulator, because of …

Image copyright Reuters Malaysia has filed criminal charges against Goldman Sachs and two former employees in connection with a corruption and money laundering probe at the country’s investment fund, 1MDB. The US bank has been under scrutiny for its role in helping to raise funds for the 1Malaysia Development Bhd (1MDB). It is being investigated …

Image copyright Asos Online fashion retailer Asos has warned of lower profits this financial year after “unprecedented” discounting hit its trading in November. Despite sales growth of 14% from September to November, it had seen “a significant deterioration” in November. Economic uncertainty plus weaker consumer confidence had led to “the weakest growth in online clothing …

Image copyright Gourmet Burger Kitchen Image caption Gourmet Burger Kitchen said it would shut 17 sites The number of restaurant businesses becoming insolvent jumped by a quarter in 2018 as consumers shunned the High Street, new figures show. Accountancy firm Moore Stephens said there had been 1,219 insolvencies, ranging from standalone restaurants up to large …

Image copyright STEPHANIE HALLER Image caption Payal Kadakia got inspiration from struggling to book a ballet class for herself The BBC’s weekly The Boss series profiles a different business leader from around the world. This week we speak to Payal Kadakia, founder of fitness class booking website ClassPass. Could you come up with a strong …

Ariel Booker, co-founder of CanO Water, says many firms often spend money unnecessarily on things that won’t help them. Source by [author_name]

Image copyright Getty Images Workers on zero-hour contracts, agency employees or “gig economy” workers are to be better protected by a package of workplace reforms, the government says. Under new legislation to be introduced on Monday, staff would have to be told details of their rights from their first day in a job, including eligibility …

Image copyright Getty Images Image caption Originally based in Wales, Laura Ashley grew from a small factory in Carno Fashion and home furnishings retailer Laura Ashley will close about 40 stores in the UK as it plans to expand its presence in China. Laura Ashley, which is owned by Malayan United Industries (MUI), has already …

Image copyright Getty Images The Financial Conduct Authority (FCA) has been criticised for allowing Lloyds Banking Group to set up a “flawed” compensation scheme for victims of a massive fraud. The SME Alliance, which represents small firms ruined in the fraud, has filed an official complaint with FCA. It accuses Lloyds of covering up its …