Business

Image copyright Getty Images An investigation into the rigging of Libor, the benchmark interest rate that tracks the cost of borrowing cash, has been unexpectedly closed. The decision comes despite evidence that implicates the Bank of England. It means no one will now be prosecuted in the UK for so-called “low-balling”, where banks understate interest […]

Image copyright Getty Images Traditional cups of tea are falling out of vogue with young people in the UK, according to PG Tips and Lipton owner Unilever. The consumer goods giant has said that Generation Z and millennial consumers much prefer herbal teas and coffees instead. As a result, the firm is struggling to grow

Image copyright Ultimate Images Image caption Neil Woodford last in competition on one of his horses, finishing 12th Every rider knows that after a bruising fall you should get back on the horse, if you can. This week, stockpicker Neil Woodford – an equestrian enthusiast – was unseated, told his champion was being sent to

Media playback is unsupported on your device Media caption‘Deal takes away the tail risk of a disorderly Brexit’ The governor of the Bank of England has told the BBC that the new Brexit deal struck by the government is “welcome” and a “net economic positive”. Mark Carney said the deal “takes away the tail risk

Oracle co-CEO Mark Hurd, who led two Silicon Valley giants, has died at 62. Oracle confirmed his death Friday, but gave no cause. Hurd was on medical leave, which Oracle announced in September . During his career, Hurd ran both Oracle and computer and printer maker Hewlett-Packard. Hurd joined Oracle as co-president in 2010 a

Image copyright AFP Boeing employees exchanged instant messages about issues with the automated safety system on the 737 Max as it was being certified in 2016. In documents provided by Boeing to lawmakers, a pilot wrote that he had run into unexpected trouble during tests. He said he had “basically lied to the regulators [unknowingly]”.

Image copyright Geography Photos Women’s fashion chain Bonmarché has appointed administrators, putting the future of the business in doubt. The chain’s 318 shops will remain open while a buyer is sought for the chain, administrator FRP Advisory said. FRP said the decision came after a “sustained period of challenging trading conditions and cashflow pressure.” The

Image copyright Alamy King’s College in London received £2m from members of the Sackler family, whose pharmaceutical firm is accused of helping to fuel the US opioid crisis. The Dr Mortimer and Theresa Sackler Foundation gave £5.2m to mostly UK universities and charities in 2018, according to its latest accounts. King’s College was the top

Image copyright Getty Images Health care giant Johnson & Johnson has recalled 33,000 bottles of baby powder in the US, after health regulators found trace amounts of asbestos in a bottle purchased online. The company said it had launched an investigation and repeated prior tests have not found asbestos. The recall comes as the firm

Image copyright Getty Images Image caption Richard Boath is one of the three ex-Barclays executives on trial An agreement at the centre of fraud charges against ex-Barclays executives was written by the bank’s lawyers and approved by its board, a court heard. Barclays agreed to pay Qatari investors £42m for advisory services in June 2008