Image copyright Evans Cycles Billionaire Mike Ashley has announced a deal to buy Evans Cycles which will see half of the bike chain’s shops close, resulting in hundreds of job losses. The struggling firm was placed into administration before being sold to Sports Direct International. Mr Ashley, who founded Sports Direct, said: “In order to …
Image copyright Reuters Image caption Supporters of Jair Bolsonaro have put their trust into him but will he be able to deliver? If stock markets and currencies are anything to go by, Brazil’s economy would at first glance seem like one of the best bets for investors at the moment. While global markets have been …
Image copyright NS&I Image caption Premium Bonds have been around for years. Here is how the winning numbers were chosen in 1975 More family and friends will be able to buy Premium Bonds for children – giving them a 24,500 to 1 chance to win a tax-free prize of up to £1m. At present, only …
Image copyright Getty Images The Budget has been branded “a bit of a gamble” by a respected economic research group. The chancellor was able to promise more spending in his budget after forecasts for tax collection were raised, the Institute for Fiscal Studies said. But those forecasts could easily change for the worse, leaving the …
Hungarian-American businessman and philanthropist George Soros has become a divisive figure in global politics and has been ostracised by his home country. He was the first person targeted in the recent mail-bomb attacks against high-profile critics of President Trump in the United States, and has been the topic of numerous fake news stories and conspiracy …
Image copyright AFP Economic growth in the 19 countries using the euro currency slowed by more than expected in the third quarter of the year, official figures indicate. Growth in the eurozone slowed to 0.2%, compared with 0.4% in the previous quarter. The bloc was not helped by the performance of Italy’s economy, which registered …
Image copyright Sony Sony has forecast a huge jump in annual operating profit as demand for its games, including God of War and Spider-Man, boosted earnings. The Japanese electronics firm raised its annual profit forecast to 870bn yen ($7.7bn; £6.0bn), up 30% from estimates given in July. The upgrade comes after strong sales in its …
Image copyright BP Image caption BP’s new Azerbaijan Shah Deniz Bravo oil platform Profits at oil giant BP more than doubled in the third quarter, boosted by stronger oil prices and higher production from new oil fields. Profits rose to $3.8bn (£3bn) from $1.86bn a year earlier, its best quarterly result for five years. Revenue …
Image copyright Getty Images The Restaurant Group, the owners of the Frankie & Benny and Garfunkel’s restaurant chains, has struck a deal to buy Asian-themed chain Wagamama. The deal values the business, which opened its first restaurant in central London in 1992, at £559m. The Restaurant Group said Wagamama had “consistently and significantly outperformed its …
Media playback is unsupported on your device Media captionBudget headlines in two minutes MPs will debate the Budget later with Labour dismissing the government’s claim to be ending austerity. Shadow chancellor John McDonnell said welfare cuts were continuing and public services could face a further squeeze. But Chief Secretary to the Treasury Liz Truss told …