Business

Councils 'face funding gap' to fix roads

Image copyright Getty Images One in six roads across England and Wales are in such a bad state they must be repaired within the next five years, according to local authorities. The Annual Local Authority Road Maintenance survey (ALARM) found that 17% of roads were in “poor” condition. The government is planning to invest £1.2bn […]

Business

'Bond King' Bill Gross settles Pimco feud for $81m

Image copyright Reuters Image caption Bill Gross has been nicknamed the “Bond King” from making good bets on US Treasury bonds Star trader Bill Gross has ended a “family disagreement” with his former firm Pimco, in a settlement worth an estimated $81m (£65m). The billionaire, dubbed Wall Street’s “Bond King”, sued Pimco after his abrupt […]

Business

New £1 coin's 'hidden' security feature

Image copyright Royal Mint The new 12-sided £1 coin – which comes into circulation on Tuesday – has a hidden security feature to make it difficult to counterfeit. It is thought to involve material inside the coin itself which can be detected when electronically scanned by coin-counting or payment machines. But officials at the Royal […]

Business

Tesco shareholder opposes £3.7bn Booker takeover

Image copyright Getty Images One of Tesco’s biggest shareholders is urging the supermarket to drop a £3.7bn takeover of food wholesaler Booker amid claims it is paying too much. In a letter to Tesco’s chairman John Allan, Schroders said the “high price” being paid for Booker would destroy value for investors. The deal brings together […]

Business

McDonald's worker, 94, says she will never leave

Image copyright Twitter Image caption Maurer was honoured by her co-workers and customers last Thursday A 94-year-old American is celebrating more than four decades of working at McDonald’s restaurants. Loraine Maurer of Evansville, Indiana, works two shifts per week, 44 years after joining the hamburger chain. The nonagenarian great-grandmother first joined in 1973 after her […]

Business

Dow and Dupont merger gets EU go-ahead

Image copyright Getty Images Image caption Margarethe Vestager cleared Dow’s merger with DuPont The European Commission has given the go-ahead to the merger of US chemical giants Dow Chemical and DuPont. The deal values the merged company at $130bn (£103bn) and is expected to lead to cost savings of $3bn. The EC’s approval is dependent […]

Business

UK banks given new stress test scenarios

Image copyright AFP The UK’s biggest banks have been told to prepare for a wide range of challenges, as part of the Bank of England’s latest stress tests. One key test will be to prove they can manage any sudden slowdown in foreign interest in UK assets. The banks will have to show they have […]

Business

FTSE 100 falls as pound jumps against dollar

Image copyright Getty Images UK shares started the week lower as the pound jumped to a seven-week high against the US dollar. The dollar was weaker against most currencies following the defeat of Donald Trump’s planned healthcare reforms on Friday. Analysts say the failure to push the reforms through has raised questions over whether Mr […]