MONEY

Pub chain and insurer apologise for slavery links

Pub chain and insurer apologise for slavery links

Pub chain Greene King and insurance market Lloyd’s of London have apologised for their historical links to the slave trade. One of Greene King’s founders owned a number of plantations in the Caribbean. Meanwhile, maritime insurance – which was focused on Lloyd’s – thrived on the trans-Atlantic slave trade. Both corporations have apologised and said […]

Coronavirus: Qantas axes most overseas flights until October

Coronavirus: Qantas axes most overseas flights until October

Qantas has cancelled all international flights until late October except for those to New Zealand. The news comes as the Australian government said its border would remain closed into next year to slow the spread of the coronavirus. The airline and subsidiary Jetstar are now boosting domestic flights as travel restrictions within Australia ease. Qantas […]

California utility PG&E pleads guilty to 84 wildfire deaths

California utility PG&E pleads guilty to 84 wildfire deaths

A California utility has pleaded guilty to the deaths of 84 people in a wildfire, the deadliest US corporate crime ever successfully prosecuted. Pacific Gas & Electric (PG&E) admitted the 2018 Camp Fire, the state’s deadliest and most destructive, was caused by its faulty equipment. In the court hearing, a judge read the name of […]

Facebook to let users turn off political adverts

Facebook to let users turn off political adverts

Facebook boss Mark Zuckerberg says users will be able to turn off political adverts on the social network in the run-up to the 2020 US election. In a piece written for USA Today newspaper, he also says he hopes to help four million Americans sign up as new voters. Facebook has faced heavy criticism for […]

US-China trade war takes toll on their global competitiveness

US-China trade war takes toll on their global competitiveness

The world’s two biggest economies have become less competitive due to their ongoing trade war, which seems to have no short-term resolution in sight. Both China and the US have slipped down the World Competitiveness Rankings for this year. Smaller economies including Singapore, Denmark and Switzerland top the list. The Institute for Management Development (IMD) […]

US retail sales in record monthly rebound

US retail sales in record monthly rebound

American shoppers returned in force in May, fuelling a record 17.7% monthly gain in retail spending after the lockdown triggered devastating declines in the previous months. The rebound only partially made up for the losses, leaving spending down about 6% year-on-year. And some sectors, such as clothing stores, have seen far steeper declines. Still, the […]

Coronavirus: Face masks mandatory for Uber passengers and drivers

Coronavirus: Face masks mandatory for Uber passengers and drivers

Ride-sharing giant Uber is to make it mandatory for passengers and drivers to wear face coverings from Monday in the UK. The minicab app firm said it was taking measures “to help everyone stay safe” and had introduced measures to give drivers access to protective equipment. Face coverings will become compulsory on public transport and in […]

Wall Street stages recovery after heavy losses on Thursday

US shares ender higher on Friday as buyers stepped in following sharp losses earlier in the day. At the closing bell, the Dow Jones was 1.9% up, while the S&P 500 rose 1.3% and the Nasdaq gained 1%, buoyed by a positive US consumer confidence survey. But, after big falls on Thursday, the three indexes […]

Bank of England ‘ready to act’ as economy shrinks record 20%

Bank of England ‘ready to act’ as economy shrinks record 20%

Bank of England governor Andrew Bailey has said he will be “ready to take action” to help the UK economy weather the coronavirus crisis. He was speaking after figures showed that the country’s economy shrank by 20.4% in April – the largest monthly contraction on record – as the country spent its first full month […]

‘I am still the only person of colour on the team’

‘I am still the only person of colour on the team’

Employees at Ovo Energy were confused to find their company had taken part in #blackouttuesday on 2 June. The normally bright green branding on the Bristol based firm’s Instagram posts, had changed to a black square, alongside millions of others that day, in solidarity with the Black Lives Matter movement. An accompanying post, made by […]