Business

The week Facebook's value plunged $58bn

[ad_1] Image copyright Getty Images Image caption Facebook has come under scrutiny for how it used to share user data Facebook ended the week $58bn lower in value after its handling of a historic data breach. Its founder Mark Zuckerberg apologised for data breaches that affected 50 million users. The apology did not stop investors […]

Business

Cambridge Analytica search warrant granted

[ad_1] The UK information commissioner has been granted a warrant to search the London offices of data analytics firm Cambridge Analytica. A spokesperson said the organisation was “pleased” and plans “to execute the warrant shortly”. Cambridge Analytica is facing claims it amassed the data of millions of people without their consent, based on a 2014 […]

Business

Former Blockbuster owner Wayne Huizenga dies at 80

[ad_1] Image copyright Getty Images Image caption Wayne Huizenga in 2009 Wayne Huizenga, the former owner of Blockbuster Entertainment and three Florida sports teams, has died at the age of 80. The college dropout made his fortune in waste disposal, founding Waste Management, now a publicly traded company worth more than $35bn (£24bn). Mr Huizenga […]

Business

EasyJet suspends pilots over social media posts

[ad_1] Image caption The EasyJet pilots have been suspended pending a disciplinary investigation said the airline. Two EasyJet pilots have been suspended after footage emerged of them using a mobile phone app while flying. The Luton-based airline said it was taking the matter “seriously” and the actions were “not acceptable”. As reported in The Sun, […]

Business

Prezzo restaurant chain to close 92 outlets

[ad_1] Image copyright Getty Images Creditors of the Italian restaurant business Prezzo have backed a restructuring plan that will see it close 92 outlets – about a third of the chain, the BBC understands. It’s estimated the move, backed by most creditors, could jeopardise up 1,800 jobs. The chain, which is owned by private equity […]

Business

South Africa's lucrative funeral insurance industry

[ad_1] Laying your loved ones to rest is big business in South Africa. The funeral insurance industry is valued at nearly half a billion dollars and people are spending large sums on items such as caskets and tombstones. As the financial burden on surviving relatives increases, many are putting money aside for extravagant arrangements. The […]

Business

Next full-year profits fall in 'challenging' year

[ad_1] Image copyright Next Plc Annual profits at Next fell by 8.1% in what the High Street retail chain described as a “challenging” year. The company said pre-tax profits dropped to £726.1m in the 12 months to January, marking the third year in a row that income has declined. Next said that sales of full-priced […]

Business

Match fit

[ad_1] Image copyright Russell Hotten Image caption Jose Mourinho, Diego Maradona and Usain Bolt at the Hublot press conference Luxury watch label Hublot must have spent a small fortune bringing together football royalty – and soccer-mad Usain Bolt – for the launch of a new product. They were joined by other legends from South America […]

Business

Financial ombudsman to review complaints

[ad_1] Image copyright Getty Images The Financial Ombudsman Service will conduct an independent review following accusations that some consumers’ claims were not decided correctly. The move follows an investigation by Channel 4’s Dispatches into the service. The programme suggested some staff with inadequate training or knowledge were making decisions on complaints. It also raised concerns […]

Business

Call for longer Heathrow night flight ban

[ad_1] Image copyright Getty Images MPs have called for tougher measures to protect passengers and local communities before plans to expand Heathrow Airport are approved. The Transport Committee said a night flight ban of six-and-a-half hours should to be extended to seven hours. The MPs also want further evidence that landing charges will not be […]