Business

Goldman posts first quarterly loss in six years

Image copyright Getty Images Image caption Goldman Sachs chief executive Lloyd Blankfein in Washington in 2012 US investment bank Goldman Sachs has posted its first quarterly loss in six years amid continued troubles in its trading business. The firm lost $1.9bn (£1.4bn) in the last three months of 2017, as revenue slumped 4% from the […]

Business

Gender pay gap 'widens as women get older'

Image copyright Getty Images Image caption The ONS found the gender pay gap was entirely in favour of men in every occupation. The difference between what men and women get paid widens as women get older, new research shows. The Office for National Statistics found pay differences were smaller at younger ages, but increased from […]

Business

Work paused on Carillion construction sites

Image copyright Reuters Work on construction sites run by failed building firm Carillion is to pause while decisions on their future are made, says the Insolvency Service. But work on most of Carillion’s private sector service contracts, such as catering and cleaning, is to carry on until new suppliers can be found. Carillion’s customers want […]

Business

Wagamama and Pret seek to reduce plastic straw usage

Image copyright PA Pret a Manger and Wagamama have become the latest companies to announce an end to automatically providing plastic straws. Customers will be offered a paper alternative, and plastic straws will be available only on request. The firms’ decision comes after Theresa May called plastic waste one of the “environmental scourges of our […]

Business

Tesco delays Clubcard rewards cut after backlash

Image copyright Getty Images Tesco is delaying a cut to its biggest Clubcard rewards after it faced a backlash from customers. The supermarket announced on Monday that the value of its reward vouchers was changing immediately, provoking an angry response on social media. It has now pushed back a drop in the most generous rewards […]

Business

GKN rejects £7.4bn hostile takeover bid

Image copyright GKN Engineering giant GKN has rejected a £7.4bn hostile takeover bid from Melrose Industries. Turnaround specialist Melrose said it believed it could “deliver significantly greater benefits” to GKN’s shareholders than GKN could on its own. Last week, GKN rebuffed an initial £7bn bid from Melrose because it “fundamentally undervalued” it. It said the […]

Business

Government reassures over supplier Interserve

Image copyright Getty Images Image caption Interserve runs employment workshops at HMP Berwyn in Wales The government has said it does not believe any of its major suppliers are in a similar position to Carillion. It commented after shares in the construction and services firm Interserve fell amid reports that its financial health was under […]

Business

Australia files WTO complaint over Canada wine sales

Image copyright Getty Images Image caption Australia has complained about Canadian restrictions on wine sales Australia has filed a trade complaint that accuses Canada of placing “discriminatory” rules on the sales of imported wine. The formal objection, lodged with the World Trade Organization (WTO), follows a similar complaint made by the US last year. Australia […]

Business

CBI criticises short-term policies to improve skills base

Image copyright PA The latest measures to improve Britain’s skills base are not working, the CBI employers’ group has warned. The organisation, which represents the UK’s biggest companies, said programmes such as the apprenticeship levy had “alienated” firms. CBI managing director Neil Carberry criticised successive governments’ short-term approach to tackling the country’s skills shortage. “We […]

Business

Made in Medellin

Media playback is unsupported on your device Media captionAgua Bendita exports its swimwear to 60 countries Catalina Alvarez was visiting her father’s clothing factory when she saw a box of brightly-coloured cloth samples in a rubbish bin. The small sheets of material may have been rejected by her dad, but for Catalina they immediately sparked […]