Business

Reality Check: The cost of the big freeze

[ad_1] Image copyright PA The claim: Snow last week cost the UK economy £1bn a day. Reality Check verdict: Economists putting figures to the cost to the economy of the snow also say that much of the lost output will be made up in the coming weeks, so it is very unlikely that the snow […]

Business

Walmart shares fall 10% as online sales slow

[ad_1] Image copyright Reuters Walmart shares suffered their biggest percentage fall for more than three decades on Tuesday after reporting disappointing online sales figures for the Christmas period. Online sales were 23% higher in the three months to December. However, that was less than half the growth recorded in the previous quarter and lower than […]

Business

Top City regulator used tax break scheme

[ad_1] The incoming head of the financial industry regulator had to repay tax after using an unapproved tax break scheme. Charles Randell, who becomes chair of the Financial Conduct Authority in April, told MPs he had made an “error of judgement” by putting money into Ingenious Film Partners 2. The scheme makes use of tax […]

Business

KFC shortages to continue all week

[ad_1] Image copyright Reuters Delivery problems will mean some KFC outlets will remain closed for the rest of the week, while others will have a reduced menu or shortened hours. About half the fast food chain’s 900 outlets in its UK-based division were still closed on Tuesday night. That was fewer than the 575 closed […]

Business

Apple sells fewer phones but profits rise

[ad_1] Image copyright Getty Images Image caption The new iPhone X started selling in November Apple sold 77.3 million iPhones in the final months of 2017, slightly fewer than during the same period in the prior year. But higher prices compensated for the dip, lifting the firm’s profits in the quarter to more than $20bn […]

Business

Amazon 2017 sales up by nearly a third

[ad_1] Image copyright Getty Images Online retail giant Amazon saw sales jump by nearly a third last year, and said its Alexa digital assistant had “far exceeded” expectations. Full year revenue came in at $177.9bn (£124.6bn), a rise of 31%. Net income – or profit – was $3bn, compared with $2.4bn in 2016. The company’s […]

Business

Thousands face fine for late tax returns

[ad_1] Image copyright Getty Images A total of 746,000 people missed the deadline to file their self-assessment tax return, risking a fine of £100. Some 11.4 million people, primarily those with more than one source of income and the self-employed, were required to complete returns. The deadline for those filling in paper forms was the […]

Business

Morrisons axes 1,500 middle managers

[ad_1] Image copyright Reuters Morrisons, the UK’s fourth-biggest supermarket chain, is to cut 1,500 middle management jobs. Workers at threat of redundancy will be encouraged to apply for 800 existing management vacancies, the BBC understands. At the same time, Morrisons will create 1,700 more junior, customer-facing roles. The move follows announcements of job losses by […]

Business

More Brits become millionaires

[ad_1] Image copyright Getty Images The number of British households that could consider themselves as millionaires rose by nearly a third in two years, official figures show. A total of 3.6 million households in Britain held wealth of more than £1m by June 2016, up 29% in two years, the Office for National Statistics said. […]