Primark and Sports Direct named for underpaying staff

Primark and Sports Direct named for underpaying staff

Image copyright Getty Images Image caption Primark had to repay £231,973.12 mainly due to charging staff for uniforms Primark and Sports Direct have had to pay thousands of pounds back to staff for paying them below the minimum wage. The retailers had to repay the most of 260 firms named on the government’s list for […]

Fake pants seized in Christmas crackdown on counterfeits

Fake pants seized in Christmas crackdown on counterfeits

Image copyright Gareth Fuller/PA Border officials have seized £1.5m worth of counterfeit Calvin Klein pants, along with fake Dyson fans, Superdry hoodies and Nike shoes. The authorities are using the hauls to highlight the risk of buying cut-price, substandard counterfeits at Christmas. The Intellectual Property Office is also using humour to fight the fakes. It […]

Bitcoin surges above $14,000 to new high

Bitcoin surges above $14,000 to new high

Image copyright Getty Images Image caption At the start of the year Bitcoin was valued below $1,000 Bitcoin crossed $14,000 (£10,460; €11,870) on Thursday, surging $2,000 in less than 24 hours. The cryptocurrency began the year below $1,000 but continues its sharp rise despite warnings of a dangerous bubble. Bitcoin hit the latest milestone during […]

Ex Volkswagen executive jailed in US amid diesel scandal

Ex Volkswagen executive jailed in US amid diesel scandal

Image copyright AFP/Getty A former Volkswagen executive has been sentenced to seven years in prison and a $400,000 (£298,778) fine, after admitting he helped the firm evade clean-air laws. Oliver Schmidt, 48, is the second person to be imprisoned in the US over the diesel emissions scandal. Volkswagen first admitted in September 2015 that it […]

First tax havens blacklist published by EU

First tax havens blacklist published by EU

Image copyright Getty Images Image caption Saint Lucia is on the EU’s 17 “non-cooperative jurisdictions” The European Union has published its first blacklist of tax havens, naming 17 territories including Saint Lucia, Barbados and South Korea. A “watchlist” of 47 countries promising to change their tax rules to meet EU standards has also been issued. […]

Banks should end unplanned overdraft charges, charity says

Banks should end unplanned overdraft charges, charity says

Image copyright Getty Images Banks should end all unauthorised overdraft charges because they are trapping people in persistent debt, the financial charity StepChange has said. The organisation also wants banks and regulators to do more to identify people caught up in a “vicious cycle of borrowing”. Even where customers have admitted they are in trouble, […]

Biofuels plant in Hull stops production and may not reopen

Biofuels plant in Hull stops production and may not reopen

Image copyright Vivergo The UK’s biggest bioethanol producer has stopped production at its East Yorkshire plant, blaming government “inaction”. Vivergo Fuels said there was “no guarantee” production would recommence at the Hull facility. It said losses had risen due to government delays in making oil companies use 10% bioethanol in petrol. The Department for Transport […]

End of mega-cheap personal loans?

End of mega-cheap personal loans?

Image copyright Getty Images Strikingly cheap high-value loans and long 0% credit card balance transfer deals could be coming to an end, an expert has suggested. Andrew Hagger, an analyst at financial consultancy Moneycomms, said that sub-3% interest loans of more than £10,000 were now very rare. The length of credit card 0% balance transfer […]

Co-op sells food after ‘best before’ dates in waste crackdown

Co-op sells food after ‘best before’ dates in waste crackdown

Image copyright Getty Images East of England Co-op will become the first major retailer to sell food beyond its “best before” dates. The chain’s 125 stores in East Anglia will sell dried foods and tinned products for just 10p in a bid to cut food waste. WRAP, the waste and recycling advisory body, said the […]

Brexit impact on UK pharma industry to be investigated

Brexit impact on UK pharma industry to be investigated

Image copyright Getty Images Brexit may affect the cost of medicines and hit UK pharmaceutical investment, a Commons committee head has warned. Rachel Reeves, who chairs the Business, Energy and Industrial Strategy (BEIS) committee, says access to new medical products may also be at risk. She said the uncertainty around Brexit was “very concerning”, as […]