Image copyright Getty Images Walmart is asking Wall Street to wait for profit growth as it battles to retain its place as the world’s largest retailer. The US discount chain has been buying up smaller companies, investing in India and spending on new technology. But the investments come at a cost. On Tuesday, the firm …
Image copyright Getty Images Image caption Saudi Arabia’s Crown Prince Mohammed bin Salman met Theresa May in March this year. The disappearance of the Saudi Arabian journalist Jamal Khashoggi has raised the possibility of sanctions. US President Donald Trump threatened “severe punishment” if Saudi Arabia is found responsible. There has been widespread speculation about what …
Image copyright Unilad The firm that owns viral news website Unilad, which went into administration earlier this month, has been bought by social media group LADbible. The sale of Bentley Harrington safeguards the jobs of more than 200 people working for the business. Bentley Harrington collapsed with debts of £6.5m, including owing £1.5m to UK …
Image copyright Getty Images One in seven people have lost track of their money sitting in savings accounts or pensions – with half blaming lost passwords, a survey suggests. An estimated seven million people had cash untouched in so-called dormant accounts, government-backed National Savings and Investments (NS&I) said. Some 52% of those asked who had …
Image copyright AFP Image caption Former Audi boss Rupert Stadler was arrested in June over his alleged involvement in the emissions scandal Audi has been fined €800m (£700m) to settle an investigation by German prosecutors into breaches of diesel emissions rules. The premium car brand, owned by Volkswagen, said it “accepts the fine and … …
Image copyright Getty Images Regulators will widen their investigation into Sainsbury’s planned merger with Asda to take account of the rapid rise of Aldi and Lidl. The Competition and Markets Authority will also assess the rise of online firms in its probe of a deal that would create the UK’s largest grocer. The ongoing rise …
Image copyright Palm Image caption US basketball player Stephen Curry is one of the ambassadors for the new Palm phone A tiny Android smartphone designed to be a “companion phone” to a full-sized device has been launched in the US – using the brand name Palm. The handset is the size of a credit card …
Image copyright Grant Thornton Sacha Romanovitch, the first woman to run a big City accountancy firm, is stepping down as chief executive of Grant Thornton. The firm said she would depart when her successor was chosen. The leadership style of Ms Romanovitch, who brought in changes such as profit-sharing for all staff, was criticised in …
The chief executives of HSBC, Google and Credit Suisse have become the latest people to pull out of a business conference in Saudi Arabia next week. HSBC’s John Flint, Google’s Diane Greene and Credit Suisse’s Tidjane Thiam will not now go to next week’s event, dubbed “Davos in the Desert”. JP Morgan chief executive Jamie …
Wages excluding bonuses rose by 3.1% in the three months to August, compared with a year ago, their fastest pace in nearly 10 years, official figures show. Over the same period, the inflation rate was 2.5%. The Office for National Statistics (ONS) also said that UK unemployment fell by 47,000 to 1.36 million in the …