Business

Image copyright Reuters High borrowing means the government is set to bust its rules on spending, the Institute for Fiscal Studies (IFS) has said. The gap between what the government spends and what it receives was now set to be much higher than expected, the think tank warned. Higher public spending, slower growth and changes […]

Image copyright Reuters Image caption The Hokuriku-Shinkansen line trains were parked in a yard in Nagano city Ten Japanese bullet trains partially submerged by floodwater from Typhoon Hagibis last month are to be scrapped. Some components could still be used but the loss to the book value of the trains could be between $110m and

Boeing’s new chairman gave embattled CEO Dennis Muilenburg a vote of confidence Tuesday and said the chief executive is giving up any bonus this year. David Calhoun said the Boeing board believes Muilenburg “has done everything right” and is positioning the Chicago company to return the 737 Max to service after two accidents killed 346

Image copyright Getty Images Cyber-security company Trend Micro says the personal data of thousands of its customers has been exposed by a rogue member of staff. The company says an employee sold information from its customer-support database, including names and phone numbers, to a third party. It became suspicious after customers started receiving phone calls

Image copyright PavlinaAkritas The clichéd image of an engineer is of a man in a hard hat, but one female engineer says she is more likely to wear high heels to work. Pavlina Akritas is a lighting designer at multinational firm Arup, and she has been helping to highlight the lack of women in engineering.

Image copyright Getty Images Image caption Softbank chief executive Masayoshi Son The boss of Softbank has admitted poor judgement in relation to its investment in WeWork after reporting its first quarterly loss in 14 years. Japan’s technology giant wrote down the value of its investments in the US-managed office firm as well as Uber. Softbank

Image copyright Getty Images Virgin Media is ditching telecoms group BT and switching its three million mobile phone customers to the network run by Vodafone. Customers are being promised a host of new services and will not have to change Sim cards, Virgin Media said. The cable group’s current contract with BT, which owns the

Image copyright Reuters China’s Jingye Group has emerged as the frontrunner to buy British Steel out of insolvency, according to reports. A possible deal has emerged after a preliminary offer from Turkish company Ataer faltered in late October, leaving the company in limbo. Since May, British Steel has been kept running by the government as

Image copyright Getty Images Marks and Spencer profits dropped in the first half of its financial year following a sharp fall in demand for its clothes and home goods. The High Street retailer said that while its food business was “outperforming the market”, there had been issues in clothing and home. Marks and Spencer is

Image copyright Reuters An Uber self-driving test vehicle that hit and killed a woman in 2018 had software problems, according to US safety investigators. Elaine Herzberg, 49, was hit by the car as she crossed a road in Tempe, Arizona. The US National Transportation Safety Board (NSTB) found the car failed to properly identify her