Business

Image copyright Reuters Lloyds is repaying customers millions of pounds after finding administrative errors dating back to 2012. Nearly 200,000 current and former customers are receiving a share of repayments, thought to total about £6m. That means an average payment of £30. The banking group is writing to those affected – most of whom were […]

Image copyright P&O Ferry firm P&O is taking legal action against the UK government, claiming a rival was unlawfully handed £33m of taxpayers’ money. Last month, the Department for Transport (DfT) was forced to settle with train operator Eurotunnel, which had challenged the procurement of no-deal Brexit shipping contracts. As part of the deal, Eurotunnel

Media playback is unsupported on your device Media captionDebenhams chief financial officer Rachel Osborne Debenhams has named 22 of the 50 stores it plans to close as part of a plan by new owners to revive the department store chain. The retailer says the store closures will start next year and 1,200 staff will be

Image copyright Getty Images A criminal investigation has been opened into the way Ford tests the emissions of its vehicles. The US Department of Justice took action after Ford alerted the US Environmental Protection Agency to potential problems in February. Ford said the issue did not involve the use of defeat devices, which were at

Image copyright Getty Images The US economy grew much faster than expected in the first quarter of the year, helped by a jump in exports and by firms building up stocks of goods. The economy expanded at an annualised pace of 3.2% in the January-to-March period, well above analysts’ forecasts. The growth figure also showed

Image copyright Reuters Uber has revealed that it is seeking a valuation of $90bn (£70bn) in its much anticipated stock market flotation. The taxi-app firm has said that its shares will be priced at between $44 and $50 each, with the share issue set to raise about $10bn. As part of the offer it will

Image copyright European Photopress Agency Scandinavian airline SAS has cancelled hundreds of flights globally leaving thousands of passengers stranded after pilots in Norway, Sweden and Denmark went on strike. SAS said 673 flights would be cancelled on Friday affecting 72,000 passengers. It said it was “deeply regretful” about the negative impact on customers. The pilot

Image copyright Getty Images China’s President Xi Jinping has sought to ease concerns about its Belt and Road project at a summit in Beijing. Speaking at the forum, Mr Xi vowed to ensure transparency and the “fiscal sustainability” of all projects. The initiative is seen by some as a bid for geopolitical influence and has

Media playback is unsupported on your device Media captionThe moment of the blast was caught on CCTV Two people have been hurt in an explosion at Tata’s main Welsh steelworks plant in the early hours. Residents living near the Port Talbot plant spoke of hearing a “massive” blast shortly after 03:30 BST. Images posted on

Image copyright AFP Image caption Carlos Ghosn being released from the Tokyo Detention House on Thursday Former Nissan boss Carlos Ghosn has left his Tokyo jail, with conditions attached. Earlier, a court set bail at 500 million yen ($4.5m; £3.5m), paving the way for this latest release. Mr Ghosn faces four charges in Japan over