Business

WASHINGTON (AP) — The Federal Reserve is poised to cut its key interest rate Wednesday to counter what it sees as threats to the U.S. economy ranging from uncertainties caused by President Donald Trump’s trade conflicts to persistently subpar inflation to a darkened global outlook. It will be the Fed’s first rate cut since December […]

Image copyright FCA Lloyds Banking Group has seen its profits impacted by a last-minute rush in people putting in payment protection insurance (PPI) claims. Loan customers who were mis-sold PPI have until 29 August 2019 to claim for compensation. Lloyds said it had set aside an additional £650m for future claims due to a “significant

Image copyright Getty Images The owner of Ladbrokes Coral has been fined £5.9m for not protecting vulnerable customers and for failings in its anti-money laundering measures. The Gambling Commission says that over a three-year period, Ladbrokes and Coral failed to put effective safeguards in place to “prevent consumers suffering gambling harm”. One customer lost £98,000

Image copyright Getty Images Samsung Electronics saw profits plunge in the second quarter as its key chip business faltered, and the firm also warned of “challenges” ahead. The world’s biggest smartphone and memory chip maker said operating profit fell 56% from a year earlier. The results reflect a broader industry slowdown, weighed down by the

Image copyright AFP Image caption Cafe Coffee Day is India’s largest coffee shop franchise chain The body of the founder and owner of India’s largest coffee chain, Cafe Coffee Day, has been found near a river on the outskirts of the southern city of Mangalore, police say. VG Siddhartha went missing on Monday after apparently

Image copyright Getty Images Image caption BMW’s mini factory in Oxford was closed during April to prepare for a Brexit which didn’t happen New investment in the UK car industry has suffered a ‘precipitous’ decline. It comes at a time when businesses in the sector have been spending heavily on preparations for a no-deal Brexit,

Image copyright Getty Images Image caption Fed Chairman Jerome Powell hinted earlier this month that rates could be cut The US central bank, the Federal Reserve, is expected on Wednesday to cut rates for the first time since 2008. Traders expect a 0.25 percentage point cut, taking the federal funds target range to 2-2.25%. Supporters

SoulCycle is a chain of spinning studios which has expanded fast in North America. Recently, the first one was opened in the UK. Its CEO, Melanie Whelan, says she always has a fall-back plan for her expansion projects. Often, she says, Plan B proves to be better than Plan A ever was. Video Journalist: Jeremy

Image copyright Getty Images Apple posted a small gain in sales for the third quarter of the year. While iPhone sales dipped, the company made up the difference in higher revenues in services such as its software store and music service. Sales rose 1% to $53.8bn (£44.3bn), while net profit dropped 13% to $10bn. The

Image copyright Getty Images Greggs is to launch a pilot of extended opening hours in a selection of its shops across the UK. Some branches already stay open late, with one in Westminster closing at 23:00 and another in Newcastle opening until 20:30 or 21:00. The bakery chain’s announcement came as it reported a strong