Image copyright Getty Images The chancellor’s next Spring Statement has been given a lift after the government recorded its largest January borrowing surplus last month. Government finances were in surplus by £14.9bn last month, the largest January surplus since records began in 1993, official figures showed. The figure was £5.6bn greater than a year ago. …
Image copyright Getty Images British Gas owner Centrica said its profit this year will be hit by the energy regulator’s tariff price cap. The company reported a 12% rise in annual group operating profits to £1.39bn for 2018, but described its performance as “mixed”. “We have been very clear that we do not believe a …
Image copyright Purplebricks Shares in estate agents Purplebricks plunged after it slashed its sales forecast and announced the departure of two senior executives. The company expects sales for the current financial year of between £130m and £140m. Its previous forecast was between £165m and £175m. Purplebricks blamed a “challenging” UK housing market and “headwinds” for …
Image copyright Getty Images Standard Chartered is putting aside $900m (£690m) for potential fines involving investigations in Britain and the US. The money will cover separate investigations into breaches of US sanctions and foreign exchange trading issues. It also covers a £102.2m fine from the UK’s Financial Conduct Authority related to financial crime controls. The …
Image copyright Getty Images Barclays has reported a profit of £3.5bn for 2018, unchanged on the previous year. Its UK business took a charge of £150m for “anticipated economic uncertainty” related to Brexit. The bank’s chief executive Jes Staley said 2018 had been a “very significant” year, with several issues resolved. Last year it took …
Image copyright Reuters Image caption A complaint has been lodged with the American regulators about health data The way Facebook interacts with users is “unfair, deceptive and misleading”, according to a complaint lodged with US regulators. The Federal Trade Commission was told the company had failed to protect the privacy of those in patient health …
Image copyright Getty Images Image caption Mr Trump has frequently been at-odds with the more liberal state President Donald Trump has continued to escalate tensions with California by calling on the state to return billions in federal funds for a high-speed rail. His administration plans on cancelling $929m (£711m) in grants for what Mr Trump …
Image copyright Getty Images City centres are in danger of becoming ghost towns as shopping habits change, a committee of MPs has warned. To combat this, the government should “level the playing field” for High Street retailers by raising taxes on online giants such as Amazon, it said. The MPs also called for lower business …
Image copyright Getty Images Image caption China’s Greater Bay Area plan aims to boost growth in the world’s second largest economy China’s ambitious plan to develop the so-called Greater Bay Area is designed to spur the economy, but analysts question whether its lofty goals can be achieved, as the BBC’s Ana Nicolaci da Costa explains. …
Image copyright Getty Images Image caption Olive farmers have found themselves at the centre of a global trade dispute A trade battle is leaving a bitter taste in the mouths of Spain’s olive growers. Tariffs levied against them by the US last year have cost the industry $27m (£20.8m) and are likely to have lasting …