Business

Sports Direct launches House of Fraser legal action

[ad_1] Image copyright Getty Images Mike Ashley's Sports Direct has launched legal action against House of Fraser, following the firm's move to close stores as part of a rescue plan.The sports chain owns an 11.1% stake in House of Fraser, which last week announced a major restructuring.Mr Ashley says his firm has been "repeatedly denied information to which it is legally entitled".A High Court writ says the billionaire should be
Business

Blind customers locked out by bank web upgrades

[ad_1] Image copyright Jeff Bashton Image caption From the "point of view of someone who can't see" his bank's upgrade is "appalling", says Jeff HSBC, Metro Bank and Halifax have all admitted to failings after redesigning websites that made it hard for their blind or visually impaired customers to access full services online.When Jeff Bashton needs to transfer cash or pay a bill, he logs on to his bank's website,
Business

How VW tried to cover up the emissions scandal

[ad_1] Image copyright Getty Images Image caption Former VW boss Martin Winterkorn authorised a cover-up, allege US prosecutors It was an "appalling" fraud that went to the very top of the company. That is the striking allegation made by US prosecutors looking into the emissions-cheating scandal at the Volkswagen Group.The indictment unsealed on Thursday claims that former CEO Martin Winterkorn was not only fully briefed about what his engineers were
Business

TSB computer fiasco: ‘Our 24 hours of moving chaos’

[ad_1] Image caption Chris and Sally Jones spent 24 hours fearing they could be left stranded TSB's reputation will depend on how it compensates customers for the distress and inconvenience caused by its IT fiasco, an expert has said.Richard Lloyd, chairman of complaints service Resolver, said the bank would be "in big trouble" if its failed with customers' less tangible losses. A perfect illustration is the case of the Jones
Business

Argentina raises interest rates to 40%

[ad_1] Image copyright Getty Images Image caption The Argentine peso is still sliding in value Argentina's central bank has raised interest rates for the third time in eight days as the country's currency, the peso, continues to fall sharply. On Friday, the bank hiked rates to 40% from 33.25%, a day after they were raised from 30.25%. A week ago, they were raised from 27.25%.The rises are aimed at supporting
Business

US adds 164,000 jobs in mixed April report

[ad_1] Image copyright Getty Images US jobs growth was slower than expected in April, as employers added 164,000 positions.The unemployment rate nevertheless fell to 3.9%, the first time it has dipped below 4% since 2000.The average hourly pay of private sector workers increased 2.6% year-on-year to $26.84 (£19.77). Manufacturing, health care and the professional and business services sector helped to drive April's job gains.The US has added an average of
Business

Twitter users told to change passwords after internal leak

[ad_1] Image copyright Thinkstock Image caption Passwords that should have been scrambled were exposed on Twitter's network Twitter's 330 million users are being urged to change their passwords after some were exposed in plain text on its internal network.An error in the way the passwords were handled meant some were stored in easily readable form, said Twitter.The passwords should have been put through a procedure called "hashing" making them very
Business

Alibaba’s sales surge continues – BBC News

[ad_1] Image copyright Getty Images Chinese e-commerce giant Alibaba saw revenues surge by a better-than-expected 61% in the January-to-March quarter.Revenues hit 61.9bn yuan ($9.7bn; £7.2bn), boosted by steady sales in its core businesses.The first three months of the year are usually slow for Alibaba, coming after the boost from Singles Day in November.Alibaba is one of the world's most valuable companies, and its shares nearly doubled in value last year.The
Business

BT unions prepare for thousands of job losses

[ad_1] Image copyright Getty Images Unions representing workers at telecoms and broadcast giant BT have issued statements responding to speculation it is planning to cut 6,500 jobs. The CWU, which represents largely non-management workers, says it is confident any job losses will have little impact on those it represents.That suggests it will be BT managers that will be in the firing line.Their union, Prospect, says it is aware BT may