Business

BP buys UK's largest car charging firm Chargemaster

Image copyright BP Oil giant BP is buying the UK’s largest electric charging network, Chargemaster, for an undisclosed sum. BP runs 1,200 petrol forecourts, but said earlier this year it expected renewable energy to be the fastest-growing fuel source. It said the number of electric vehicles in the UK is set to grow from 135,000 […]

Business

Corporate traps

Image copyright Getty Images Image caption Carillion buckled under the weight of a whopping £1.5bn debt pile Despite ranks of highly paid executives and advisors, big companies can take decisions that seem at best baffling and at worst self-destructive. So how do such big organisations, led by well-paid chief executives and with the money to […]

Business

Regulator crackdown on hotel booking sites

Image copyright Getty Images Hotel booking sites must review the way they rank and display rooms, the UK’s competition watchdog has said. Some sites may be making misleading claims about discounts the Competition and Markets Authority said. It is also examining whether sites are giving a false impression of room availability and “rushing” customers into […]

Business

Nuclear sector to get £200m boost

Image copyright RCAHMW Image caption The £103m nuclear power station at Trawsfynydd was in operation between 1965 and 1991 A £40m facility to support the design of advanced nuclear technologies will be developed in north Wales by the Welsh and UK governments. It is in addition to a £200m UK government nuclear sector deal to […]

Business

Fox-Disney merger cleared, but sports networks must be sold

Image copyright Getty Images US regulators have cleared Walt Disney Co’s plan to buy most of 21st Century Fox, removing a final barrier to the $71.3bn (£54.2bn) deal. The approval requires the sale of Fox’s regional sports networks in the US, due to competition concerns, the Justice Department’s antitrust division said. Disney, which had signalled […]

Business

China lifts ban on British beef exports

Image copyright Getty Images China has ended a two-decades-long ban on exports of beef from the UK, first introduced after the outbreak of BSE – or “mad cow disease” – in the 1990s. The government said the development will be worth £250m to British producers over the next five years. It comes after years of […]

Business

FCA boss: 'No such thing as free banking'

Image copyright PA Up to half of the profits made by big banks from current accounts come from just one in 10 customers, according to the industry regulator. Customers with overdrafts, which are more profitable than other types of credit, are particularly lucrative. A report by the Financial Conduct Authority (FCA) said banks were also […]

Business

Fastjet shares collapse as cash crisis threatens survival

Image copyright Fastjet Shares in African budget airline Fastjet have collapsed by two thirds after warning it could go bust without new funding. The airline, backed by easyJet founder Sir Stelios Haji-Ioannou, flies in several African countries including South Africa, Tanzania and Zimbabwe. It is talking to major shareholders regarding potential equity fundraising. However, if […]

Business

John Lewis warns of zero first-half profit

Image copyright PA John Lewis has warned that profits in the first half of the year will be “close to zero”. Last year John Lewis made £26.6m in the first half, and blamed heavy investment for this year’s expected fall. The well-known High Street name also warned over full-year profits, saying they could be “substantially […]