Business

Apple iPhone sales fears rock Wall Street

[ad_1] Image copyright Getty Images Image caption Apple chief executive Tim Cook presents the firm's newest line of products Apple shares have slumped by more than 4%, dragging down US markets and wiping more than $40bn (£31bn; €35bn) off the tech giant's market value.The fall followed a profit warning from one of the firm's major suppliers, which exacerbated concerns that demand for iPhones is slowing.It renewed declines that started earlier
Business

Ex-Stobart boss denies improperly taking £5m in expenses

[ad_1] Image copyright PA Image caption Andrew Tinkler denies any wrongdoing The former boss of the Stobart Group has denied improperly taking £5m of "so-called expenses" amid court claims he had his "own interests at heart".Andrew Tinkler was sacked as chief executive at the Carlisle logistics firm - known for its green trucks - for alleged breach of contract in June.The High Court heard he was trying to oust chairman
Business

Tobacco shares hit on US menthol ban fear

[ad_1] Image copyright Getty Images Shares in two tobacco giants have been hit by reports that US regulators are planning to ban menthol cigarettes.Shares in British American Tobacco fell 9% to their lowest level for nearly five years, while Imperial Brands shares fell 4%.A report in the Wall Street Journal claimed the US Food and Drugs Administration would impose the ban.Analysts said menthol cigarettes sales account for a quarter of
Business

Pound falls as Brexit uncertainty rises

[ad_1] Image copyright Getty Images The pound has fallen against the dollar amid political uncertainty as Prime Minister Theresa May struggles to broker an agreement on Brexit with her cabinet.In early trading, sterling fell nearly 1% against the dollar to $1.2845.Against the euro, it was down 0.2% at €1.1422.Mrs May is trying to arrange an agreement in cabinet on the current Brexit talks in time for a hoped-for summit in
Business

Diageo sells Seagram’s and sambuca brands

[ad_1] Image copyright PA Drinks giant Diageo has announced that it is selling a portfolio of 19 brands to US privately owned firm Sazerac for $550m (£427m).The list includes three varieties of Seagram's whisky, plus Romana Sambuca and the now-defunct Booth's gin brand.Diageo said the sale would allow it to have "greater focus" on its premium brands in the US.The proceeds, expected to be about £340m, will be returned to
Business

Tech boss: ‘Get trust right and you will succeed’

[ad_1] Ben Brabyn runs a technology incubator called Level39, where start-up companies come up with new computer programs for business. His job is to connect the start-ups with clients. However, rather than trying to match them directly, he says it's better to make Level39 a place where buyers and sellers can get to know and trust each other.See more at CEO Secrets.Video journalist: Jeremy Howell [ad_2] Source link
Business

‘Most of us hate haggling for a new car’

[ad_1] Image copyright Carwow Image caption James Hind started Carwow at his parents' house The BBC's weekly The Boss series profiles different business leaders from around the world. This week we speak to James Hind, founder of UK car price comparison website Carwow.While unforeseen circumstances can completely change all our lives, it was the global financial crisis that sent James Hind down an entirely different path.In 2008 he was a
Business

Firms ‘struggling to recruit as overseas staff stay away’

[ad_1] Image copyright Getty Images Firms planning to take on more staff are being hit by labour shortages, with a "reversal" in the number of migrants in employment, says HR body the CIPD.As Brexit approaches next March, the CIPD says there has been a slowing down in the growth of both EU and non-EU migrants in the UK workplace.And it said research among over 1,000 employers suggested that vacancies are
Business

Alibaba Singles Day sales frenzy surpasses records

[ad_1] Media playback is unsupported on your device Media captionAlibaba Singles Day: Dollars or data?E-commerce giant Alibaba has set new sales records on Sunday for its biggest shopping day, the annual Singles Day.The Chinese company hit a record $1bn in sales in 85 seconds, and then just shy of $10bn in the first hour of the 24-hour spree.Alibaba also beat its 2017 revenue total, $25.3bn, with several hours still remaining.Online
Business

Daily Mail-owner DMGT ‘looking to buy i newspaper’

[ad_1] Daily Mail-owner DMGT is reportedly considering making an offer to buy the i newspaper from Johnston Press.The troubled regional publisher put itself up for sale in October, with all or parts of the group available to buy.It is struggling under the weight of debt, pension obligations and worsening advertising conditions.Johnston Press, which bought the i from the Independent for £24m in 2016, has not commented on the developments, first
Business

The cost of renting in the UK in seven charts

[ad_1] As the number of people renting in the UK continues to rise, the BBC has taken a closer look at the state of private renting. The typical one-bed home in England costs £600 a month to rent, but this is skewed by soaring costs in London and hides a gaping divide across the country. In parts of Westminster, the average one-bed costs more than £3,500 per month. In Argyll
Business

Would you ask your colleagues what they earn?

[ad_1] Image copyright Getty Images "Can you tell me how much you earn?" It's not a question many of us would be happy asking a colleague, around the boardroom table or in the queue for the work canteen.It's not a question many of us would be happy answering either, according to campaigners for women's rights.But it's time for us all to be much more transparent about our salaries, in order
Business

My Brexit box: The people stockpiling food

[ad_1] Image copyright Justyna Kowalczyk Image caption Justyna Kowalczyk says the "Brexit box" was her partner's idea "It might sound a bit crazy," admits Justyna Kowalczyk.She's talking about her "Brexit box" tucked under the kitchen table.In the plastic container, which is around the same size as a small box of photocopier paper, she has bottles of tonic water, coffee and French marmalade. Away from the kitchen, in a cupboard she
Business

Cammell Laird: Unite union workers vote to strike over job fears

[ad_1] Image copyright Getty Images Image caption Cammell Laird's cranes are a familiar part of the Liverpool skyline Some workers at shipbuilder Cammell Laird have voted to strike over fears 290 jobs could be axed despite the yard securing two big Royal Navy contracts.Last month it was announced that the Merseyside base would receive £620m to support Royal Fleet Auxiliary tankers.The Unite union said about 40% of jobs could still
Business

Essex ‘could rival Champagne for wine production’

[ad_1] Image copyright Getty Images Image caption The Only Grape is Essex: TOWIE star Gemma Collins has been pictured enjoying a fine fizz Essex could rival the Champagne region as a major producer of fizz, experts have claimed.Scientists identified about 86,000 acres of countryside - with similar traits to the French plonk powerhouse - deemed "prime" land for vineyards.The areas, including some in Suffolk, had ideal soil, terrain and climate
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Ryanair plane seized by French authorities in cash row

[ad_1] Image copyright Reuters A Ryanair plane has been seized by French authorities in a row over money in the latest problem for the airline. The French civil aviation authority grounded the plane on Thursday at Bordeaux airport, before it was due to fly to Stansted with 149 passengers.It said the move was "a last resort".The dispute was caused by French subsidies paid to Ryanair for flights from regional airport
Business

Supermarkets win £300m cash machine case

[ad_1] Image copyright Getty Images Retailers will no longer have to pay millions of pounds in business rates for cash machines outside their shops, following a ruling by the Appeal Court.Since 2010 supermarkets and convenience stores have been liable to pay rates on the machines.But the court ruled that about £300m they have already been charged will now have to be refunded.Part of that money will have to come from
Business

Top banks in cyber-attack ‘war game’

[ad_1] Image copyright Getty Images The Bank of England is testing the UK's ability to withstand a major cyber-attack on financial institutions. Some 40 firms, including leading banks, are taking part in a one-day "war-gaming" exercise designed to assess their resilience.The Bank is conducting the exercise on Friday in partnership with regulators and the Treasury.It wants to ensure that firms are able to meet certain minimum recovery standards after a
Business

Next settles with Scamp & Dude over copying claims

[ad_1] Image copyright Instagram Scamp and Dude Retailer Next has reached a settlement with the fashion brand Scamp & Dude over claims it copied the smaller firm's designs.Next said it would pay the profits from any sales of a contested design to the label, which will donate the proceeds to charity.In September, the label founder accused Next of a "blatant infringement" of an animal print top for children.At the time