MONEY

Pakistan attack: ‘Gunmen killed’ in raid on stock exchange in Karachi

Pakistan attack: ‘Gunmen killed’ in raid on stock exchange in Karachi

Gunmen have attacked the Pakistani stock exchange in the southern city of Karachi, killing at least two people and injuring others, local media report. The assailants stormed the exchange after launching a grenade attack at the main gate to the building. Latest reports quote police saying they have killed all four heavily armed gunmen and […]

Shopping centre giant Intu enters administration

Shopping centre giant Intu enters administration

The owner of some of the UK’s biggest shopping centres, Intu, has called in administrators. The firm, which owns the Trafford Centre, the Lakeside complex, and Braehead, said earlier it had not reached an agreement in financial restructuring talks with its lenders. Its centres will stay open under administrators KPMG. The company said shares listed […]

George Floyd: US phone giant Verizon joins Facebook ad boycott

George Floyd: US phone giant Verizon joins Facebook ad boycott

US telecoms operator Verizon has become the latest major company to pull advertising from Facebook platforms. The company joins Ben and Jerry’s and a growing list of firms boycotting the social media giant over its handling of controversial posts. Verizon is believed to be the biggest advertiser so far to back the Stop Hate for […]

Coronavirus: Qantas to axe 6,000 jobs due to pandemic

Coronavirus: Qantas to axe 6,000 jobs due to pandemic

Qantas will axe 6,000 jobs as part of its plans to survive the coronavirus pandemic, the airline says. The cuts equate to about a fifth of the airline’s workforce prior to the Covid-19 crisis. In March, it furloughed more than 80% of its staff. Australia’s national carrier said the collapse in global air travel had […]

Bayer to pay $10.9bn to settle weedkiller cancer claims

Bayer to pay $10.9bn to settle weedkiller cancer claims

Chemical firm Bayer is to pay up to $10.9bn (£8.8bn) to settle cancer claims linked to its Roundup weedkiller. The glyphosate-based product has been subject to about 125,000 lawsuits over its allegedly carcinogenic effects. New York-based law firm Weitz & Luxenberg says it has reached a settlement on behalf of almost 100,000 people. Bayer denies […]

BeiDou: China launches final satellite in challenge to GPS

BeiDou: China launches final satellite in challenge to GPS

China has successfully put into orbit the final satellite in its BeiDou-3 navigation system, further advancing the country as a major power in space. Tuesday’s launch will allow China to no longer rely on the US government-owned Global Positioning System (GPS). The $10bn (£8bn) network is made up of 35 satellites and provides global navigation […]

Trump targets foreign workers with new visa freeze

Trump targets foreign workers with new visa freeze

US President Donald Trump has extended a pause on some green cards and suspended visas for other foreign workers until the end of 2020. High-skilled tech workers, non-agricultural seasonal helpers, au pairs and top executives will be affected. The White House said the move will create jobs for Americans hurting economically due to the pandemic. […]

Wirecard: Scandal-hit firm says missing €1.9bn may not exist

Wirecard: Scandal-hit firm says missing €1.9bn may not exist

Scandal-hit payments firm Wirecard has said the €1.9bn (£1.7bn) missing from its accounts simply may not exist. Wirecard’s chief executive quit on Friday as the search for the missing cash hit a dead end in the Philippines. On Sunday the central bank of Philippines said none of the money appears to have entered the country’s […]

Black business managers still underrepresented, says study

Black business managers still underrepresented, says study

Efforts to increase the number of black managers at British companies have stalled, according to a business group. Just 1.5% of top bosses at UK companies are black. That compares to 3% of the population of England and Wales. While the ratio is an improvement on the 1.4% of 2014, there is much ground still […]

Construction safety is ‘broken’ say fire chiefs

Construction safety is ‘broken’ say fire chiefs

Some construction firms still can’t be trusted to make buildings that are safe from fire, the National Fire Chiefs Council (NFCC) has warned. Its safety head Nick Coombe said some building firms had barely improved since the Grenfell disaster in 2017. The Federation of Master Builders, which represents small contractors, said it was trying to […]

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