Business

Investor says sorry for huge losses

Media playback is unsupported on your device Media captionJames Cordier apologised to his investors The boss of a Florida-based financial firm has made a tearful video apology to clients after bad bets on oil and natural gas prices wiped out their investments. James Cordier blamed a recent bout of market volatility for the losses, which […]

Business

Extra Energy collapse is the sixth this year

Image copyright Getty Images Another small energy supplier – Extra Energy – has ceased trading, the company has announced. It is the sixth energy supplier to go out of business since the start of the year. The company had attracted just 108,000 domestic customers and 21,000 business customers. However the regulator, Ofgem, assured customers affected […]

Business

'Breathing space' for indebted consumers

A scheme to help the four million consumers with high levels of debt get their finances in order could be expanded across the UK. Anyone going for help to debt advice services will be able to apply for time off from repayments and interest whilst they work out a plan to fix their finances. It’s […]

Business

Bet365: UK's best-paid boss sees pay rise to £265m

Image copyright WPA Pool Image caption Denise Coates was awarded a CBE in 2012 for services to the community and business The UK’s best-paid boss, co-founder of online gambling firm Bet365 Denise Coates, has just received another bumper pay rise. The firm’s accounts show compensation, for the firm’s “highest paid director” rising to £265m including […]

Business

Carlos Ghosn: Custody 'extended by 10 days'

Image copyright Getty Images Japanese authorities have extended the detention of Nissan chairman Carlos Ghosn by 10 days, according to local media reports. It follows his arrest on Monday after Nissan made allegations of financial misconduct. Prosecutors had 48 hours after the arrest to press charges, release him or extend his custody. Nissan accused Mr […]

Business

Patisserie Valerie auditor faces probe over alleged fraud

Image copyright Getty Images Accountancy firm Grant Thornton is being investigated over its auditing of Patisserie Holdings. The Financial Reporting Council (FRC) said it is investigating audits by Grant Thornton of three years – 2015, 2016 and 2017. Last month Chris March, former finance director at the cafe chain Patisserie Valerie, was arrested after accounting […]

Business

US says China has 'not altered' unfair trade practices

Image copyright Getty Images The Trump administration has accused China of not changing its “unfair” practices, inflaming a trade dispute between the world’s two largest economies. In an update to a March report, the US said China had failed to alter its “unreasonable” practices. The US has, along with other countries, long criticised Beijing over […]

Business

Glamour magazine to go online only in the US

Image copyright Getty Images Image caption Glamour’s editor in chief Samantha Barry said on Tuesday Glamour magazine was “the ultimate authority for the next generation of change-makers” Media giant Condé Nast has said it will stop printing monthly editions of its 80-year-old Glamour magazine in the US and move entirely online. Editor in chief Samantha […]

Business

What's biting Apple?

Image copyright Getty Images Image caption Apple boss Tim Cook has seen his company lose billions in market value in recent weeks Apple was once the, well, apple of Wall Street’s eye. The first US company to achieve a trillion dollar market value, the tech giant boasted trend-setting products, a cash pile larger than the […]