Business

Debenhams has announced plans to cut 2,500 jobs as the retail sector reels from the effects of the coronavirus crisis. The chain, which was already struggling from weak sales before COVID-19 forced its store estate into hibernation in March, said it was taking the action as part of efforts to ensure the business has “every

Global stock markets have rallied on growing hopes of further stimulus to mitigate the coronavirus crisis – with the S&P 500 in New York on the brink of striking a record high. Shares advanced in Asia and then Europe despite continuing gloom over the spread of COVID-19 as one measure of reported global cases past

A BP worker who was sacked after sharing a meme featuring Adolf Hitler has been awarded AUS$200,000 (£109,000) in compensation. Scott Tracey, an employee of BP’s Australian refinery, had posted a video taken from the 2004 movie Downfall on a closed Facebook group with colleagues. His wife had added subtitles to the clip – a

Victims of bank transfer scams face a “total lottery” over whether they will get their money back under a voluntary industry code, according to a consumer campaign group. Which? said people who fell foul of authorised push payment (APP) fraud are being treated unfairly or inconsistently by banks and building societies when trying to get

An extra 900 jobs are to be created by the outsourcing giant Capita after it signed a deal with Transport for London (TfL) worth £355m. The hiring of workers offers a rare glimmer of light against a bleak backdrop of sweeping redundancies, triggered by the COVID-19 crisis. WHSmith, DW Sports and PizzaExpress have all announced

McDonald’s is suing its former chief executive – fired last year for an inappropriate relationship with an employee – over claims he had affairs with other staff and destroyed evidence. According to court documents filed by the fast-food giant, Stephen Easterbrook, who grew up in Watford, Hertfordshire, “lied about his wrongdoing” in having had sexual

The number of professional footballers being investigated over their tax affairs has almost trebled in the past year, according to a study. Freedom of information requests showed that 246 players were under investigation by HMRC during the 2019-20 season – up from 87 in the previous campaign. The image rights of players are thought to

Indoor gyms, swimming pools, dance studios and leisure centres in Wales are allowed to reopen today for the first time in more than four months. Children’s indoor play areas can also reopen, excluding ball pits which are more difficult to keep clean. The lockdown-easing measures come into force in Wales a week after pubs, cafes

The American investment firm Apollo Global Management is weighing a £3bn takeover bid for the AA, Britain’s biggest roadside recovery service. Sky News has learnt that Apollo, co-founded by Leon Black, one of Wall Street’s financiers, has joined a trio of rival bidders in approaching the debt-laden company. Sources said this weekend that Apollo had

More than 6,000 British Airways workers have applied for voluntary redundancy, the airline has confirmed. A spokesperson said: “Our half year results, published last week, clearly show the enormous financial impact of COVID-19 on our business. “We are having to make difficult decisions and take every possible action now to protect as many jobs as

More than 10,000 British Airways workers are being made redundant, it has been confirmed. It is understood that 6,000 of the redundancies are voluntary and trade union Unite says a further 4,000 are compulsory. A spokesperson for the airline said: “Our half year results, published last week, clearly show the enormous financial impact of COVID-19

Hargreaves Lansdown has reported a record number of net new clients, as thousands of Britons turned to share trading during the lockdown. The fund supermarket said it added 188,000 net new clients, bringing the number of active clients to more than 1.4 million and pushing new business to a high of £7.7bn. Christopher Hill, chief

A Canadian brewery has apologised after unwittingly naming one of its beers after the Maori word for pubic hair. The Hell’s Basement brewery in Alberta, western Canada, used the Maori word “huruhuru” to name its “New Zealand hopped pale ale”. Meanwhile, a leather store in New Zealand’s capital Wellington has also apologised for naming its

Ofgem has said it will cut bills for around 15 million households by up to £95 after reducing its cap on energy bills to the lowest level yet. The price cap has been set at £1,042 per year for an average household and will come into force from October, Ofgem said. It is an £84

The chancellor has warned there is hardship ahead for many people as the furlough scheme winds down over the next few months. Rishi Sunak told Sky News that ending the furlough scheme was “one of the most difficult decisions I’ve had to make in this job”. He added: “If you look at it from start

The new chief executive of Aviva has wowed investors with news of a tighter focus ahead and a resumption in the company’s dividend. Shares in the life, motor and home insurer hit five-month highs on Thursday after Amanda Blanc bowed to long-term complaints from analysts and shareholders and announced that Aviva would reduce its focus