101062691  93968719 fed37f75 3e1d 4cc8 bc23 65ea7f1f6752 - Rail passengers suffer 'misery' say MPs
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Rail passengers suffer 'misery' say MPs

Image copyright Getty Images The government’s management of two of the UK’s biggest rail franchises has been “completely inadequate”, a report by MPs has found. The Public Accounts Committee said that a “catalogue of failures” by the Department for Transport, Network Rail and Govia Thameslink had caused “misery” for passengers. It said UK passengers are […]

101062685 amazon2 - Amazon's sales surge and doubles profit
Business

Amazon's sales surge and doubles profit

Image copyright Getty Images Amazon has reported a 43% surge in revenues for the first quarter, fuelled by online shopping in the US. The internet retail giant said sales rose to $51bn (£36.6bn) in the three months to March, surpassing analysts’ forecasts. Amazon also said that its profit more than doubled, sending its share price […]

101055069 poundworld getty - Poundworld considers closing 100 stores
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Poundworld considers closing 100 stores

Image copyright Getty Images Discount retailer Poundworld is looking at closing about 100 of its 355 stores, putting up to 1,500 jobs at risk. The company is also considering an insolvency process called a Company Voluntary Arrangement (CVA). Like many retailers Poundworld has been hit by falling consumer confidence, rising overheads and the weaker pound. […]

94968207 mediaitem94968206 - Nintendo Switch fuels strong rise in profits
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Nintendo Switch fuels strong rise in profits

Image copyright Nintendo Japanese games giant Nintendo reported annual profits of $1.28bn, a 36% rise, due to the continuing popularity of its Switch gaming console. The profits are ahead of Nintendo’s own guidance, which has been repeatedly revised higher on better trading news. The company has appointed a new president, 46-year old Shuntaro Furukawa. He […]

101054720 rexfeaturd - Wembley: Football Association offered £800m to sell national football stadium
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Wembley: Football Association offered £800m to sell national football stadium

Shahid Khan bought Fulham in 2013 The Football Association has received an offer, thought to be worth £800m, to sell Wembley Stadium. Shahid Khan, the owner of Fulham and NFL team Jacksonville Jaguars, is the prospective buyer. It is understood the approach includes £500m for the stadium and £300m for the FA to keep the […]

101051323 sewing - Deutsche Bank plans 'significant' job cuts
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Deutsche Bank plans 'significant' job cuts

Image copyright Getty Images Image caption Christian Sewing became Deutsche’s chief executive earlier this month Deutsche Bank will make “significant” job cuts as it scales back its corporate and investment banking operations, Germany’s biggest lender has said. Its new chief executive, Christian Sewing, said the job losses were “painful but regrettably unavoidable”. The cuts will […]

101048151 mediaitem101048150 - Lionel Messi wins fight to register himself as trademark
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Lionel Messi wins fight to register himself as trademark

Image copyright AFP A European court has ruled that Lionel Messi, the world’s top earning footballer, can trademark his own name. The Barcelona and Argentina fought a seven-year fight to be able to use his name on sports goods and clothing. His original application was challenged by the Spanish cycling brand, Massi, which argued that […]

89772553 mikemassarotcr8 150 - Bookshop chain Waterstones sold to Elliott Advisors
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Bookshop chain Waterstones sold to Elliott Advisors

Image copyright Waterstones Book chain Waterstones, has been bought by activist investment firm Elliott Advisors for an undisclosed amount. James Daunt, the chain’s chief executive since 2011, will remain in the post under the new ownership, along with his key management team. Mr Daunt said the sale was a “very happy outcome for Waterstones”. Waterstones […]

101018676 img 3916 - TSB drafts in outside help to fix IT chaos
Business

TSB drafts in outside help to fix IT chaos

Image copyright Roger Harris TSB is calling in outside help to help fix the banking system breakdown that has caused chaos for customers. Its chief executive, Paul Pester, told the BBC’s Today programme he would now take direct control of the issue, and had drafted in experts from IBM, who would report “directly” to him. […]

97149625 gettyimages 469777200 - SSE-Npower merger could push up prices, competition body says
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SSE-Npower merger could push up prices, competition body says

Image copyright Getty Images The planned merger between Npower and SSE could lead to higher energy prices, the UK’s competition watchdog has said. The Competition and Markets Authority (CMA) said the rivalry between large energy companies was “an important factor in how they set tariffs”. “The removal of such competition could therefore lead to higher […]

100132093 barclays.cash.machine.g - Barclays pushed into loss by US payout
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Barclays pushed into loss by US payout

Image copyright Getty Images Barclays has been pushed into a first quarter loss after paying $2bn (£1.4bn) to settle a lawsuit in the US over the sale of mortgage-backed securities. The bank also put aside an additional £400m to cover an increase in payment protection insurance (PPI) mis-selling claims. Barclays reported a pre-tax loss of […]

101046609 gettyimages 924444854 - Samsung Electronics posts fourth quarter of record profits
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Samsung Electronics posts fourth quarter of record profits

Image copyright Getty Images Image caption Samsung has warned about future smartphone demand despite posting record quarterly profits Samsung Electronics posted record profits for a fourth quarter in a row, thanks to strong demand for its memory chips and new Galaxy S9 smartphone. The South Korean technology giant saw net profits of 11.7tn won ($10.8bn; […]