German car giant BMW is expected to announce plans to invest hundreds of millions of pounds to prepare its Mini factory near Oxford to build a new generation of electric cars. Production of two new electric Mini models is due to begin at the plant in Cowley in 2026. The move is expected to safeguard...
Category: Business
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PwC to curtail consulting work for US audit clients to reduce conflict risk
PwC is planning to give up tens of millions of dollars of consulting work for its US audit clients to reduce the risk of conflicts of interest, challenging its rival Big Four firms to follow suit. The accounting firm has begun to tell clients it will stop offering them some advisory services, even though they...
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Two family favourite restaurant chains ‘could be sold to rival’ after shuttering dozens of branches
TWO family favourite restaurant chains ‘could be sold’ to a major rival after shuttering dozens of branches. The Restaurant Group (TRG) is looking to sell both Frankie & Bennys and Chiquito to Cafe Rouge owner The Big Table, according to Sky News. The Restaurant Group is looking to sell both Frankie & Bennys and ChiquitoCredit: Getty...
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US shares edge up after Apple and economic data feed midweek sell-off
US stocks edged higher on Friday, but had a weekly decline alongside global equities that have slipped in recent sessions as investors assess the outlook for regional economies and interest rates. Wall Street’s benchmark S&P 500 finished 0.1 per cent higher on Friday, losing 1.3 per cent in the holiday-shortened trading week. The tech-focused Nasdaq...
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NatWest cuts mortgage interest rates for second time in four days
NatWest has cut its mortgage rates for the second time in just four days, after comments from the Governor of the Bank of England suggested the peak of interest rates could be within sight. NatWest had already lowered interest this week, announcing a range of cuts on Monday. However, it is now bringing in further,...
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Germany’s industrial gloom deepens as production falls
Receive free German economy updates We’ll send you a myFT Daily Digest email rounding up the latest German economy news every morning. A sharp decline in carmaking fuelled a downturn in German industry as production fell for the third consecutive month in July, intensifying pressure on Berlin to lift the economy out of the doldrums....
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Number of Britons worried about the cost of housing hits record levels | Business News
The concern over home finances comes after the Bank of England hiked interest rates 14 times in a row as it battles to bring down inflation. About 80% of mortgage holders and renters are now worried about rising housing costs, according to a poll. Which? said the figure was the highest in the 10-year history...
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Major changes unveiled to help household struggling with cost
Millions of Britons are set to benefit from a change in energy rules which could help households struggling with surging costs. Watchdog Ofgem has launched new proposals to reform the power market in a bid to help energy customers. The latest rules will mean firms will have to offer customers who are struggling to pay...
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Twitter X rebrand: Elon Musk’s ‘X’ already trademarked by Meta for ‘social networking services’
Elon Musk may face legal difficulties after rebranding Twitter to X, trademark experts have warned, with tech rivals Meta and Microsoft both owning intellectual property rights for the letter. The tech billionaire renamed the social network on Monday, nine months after taking over the company in a $44bn deal. The name change forms part of...