Business

Image copyright Reuters The US has officially named China as a “currency manipulator”, a statement which will intensify tensions between the world’s two largest economies. The announcement by the US Treasury follows a sharp fall in the value of the Chinese yuan against the dollar. The drop caught markets off-guard as Beijing usually supports the […]

Image copyright Getty Images Scotland has replaced London as the fastest place for a seller to find a buyer for their home, figures suggest. In 2014, it took 36 days in London on average to secure a buyer, but this rose to 60 days by last year, according to property portal Rightmove. In contrast, the

Image copyright NurPhoto July’s hot weather failed to boost consumer spending in the UK which fell to a new low amid Brexit uncertainty and slow real wage growth. Average retail sales over the year to July rose by 0.5% – a record low according to the British Retail Consortium and KPMG. They said the “challenging

Image copyright Reuters The UK’s data privacy chief has joined the chorus of warnings over Facebook’s proposed digital currency, Libra. Elizabeth Denham, who runs the Information Commissioner’s Office, has signed a statement alongside counterparts in the US, Canada, Australia and the European Union. The statement said they have “shared concerns” over “privacy risks posed”. Banking

Image copyright PA Wire Strike action at Heathrow on Tuesday has been called off after the airport group and the union Unite reached a deal over pay. Workers had planned to walk out on both Monday and Tuesday in a row over wages. Strike action over the two days has now been averted but Heathrow

In the hope of becoming social media stars, young people in India’s smaller towns are signing-up for a live streaming app called Bigo Live. Singers and dancers who attract large numbers of followers can earn more than engineers and lawyers. But the platform paving this path to fame is one of several vying for a

Image copyright HTC HTC has stopped offering its phones for sale in the UK while it is involved in an intellectual property dispute. The Taiwanese company’s online store currently lists all of its models as “out of stock” despite the fact they remain available in other nations. HTC has been involved in a long-running dispute

Image copyright Getty Images Mike Ashley has emerged at the winner in an auction to buy the UK fashion retailer Jack Wills. Mr Ashley’s company Sports Direct has bought Jack Wills out of administration after competing against Edinburgh Woollen Mill Group. Jack Wills has 100 stores in the UK, Ireland, Hong Kong, Singapore and the

Image copyright PA Media Supermarket giant Tesco says about 4,500 staff in 153 Tesco Metro stores are set to lose their jobs in the latest round of redundancies. The UK’s largest grocer said changes to the way the stores operated would “serve shoppers better” and help to “run our business more sustainably”. It said the

Image copyright Reuters China has let its yuan currency fall in value below the seven-per-dollar level for the first time since 2008, raising fears of a currency war. Beijing had been expected to stop the yuan hitting the psychologically important level, but allowed it to hit an 11-year low in its onshore market. Investors dumped