Business

Phone and broadband users face ‘unfair’ price hikes says Which?

Phone and broadband users face ‘unfair’ price hikes says Which?

Getty ImagesBy Lucy HookerBusiness reporter, BBC NewsBroadband and mobile phone firms should ditch plans for "grossly unfair" bill increases this spring, argues Which?Consumers are still facing price rises linked to inflation plus an extra charge, the consumer group says.That is despite new rules that are expected to come into force later this year that will ban this approach.BT said it…
Read More
Lower cost of tea eases January price rises

Lower cost of tea eases January price rises

Getty ImagesShop prices rose at their slowest rate in more than 18 months in January, according to the latest report from the British Retail Consortium (BRC).Inflation - the rate at which prices rise - reached near-record highs last year, prompting a cost-of-living crisis.However, discounts and lower prices for milk and tea saw shop price inflation fall to 2.9%, from 4%…
Read More
Britishvolt buyer charged with assault in New York

Britishvolt buyer charged with assault in New York

By Theo LeggettBBC NewsThe man behind a buyout of the collapsed battery maker Britishvolt has been charged with assault and harassment in New York.The charges against David Collard followed an alleged altercation on Madison Avenue in November.The incident, first reported by Australian website Open Politics, occurred at a time when the future of the takeover remains uncertain.Mr Collard insists he…
Read More
Amazon cancels iRobot vacuum deal after EU challenge

Amazon cancels iRobot vacuum deal after EU challenge

Getty ImagesBy Natalie ShermanBusiness reporter, New YorkAmazon is scrapping its planned takeover of vacuum maker iRobot following opposition from EU competition authorities.The e-commerce giant said it was "disappointed" but there was no clear regulatory path to approval of its purchase of the Roomba vacuum maker. First announced in 2022, the takeover would have been one of Amazon's largest ever acquisitions.…
Read More
ChatGPT: Italy says OpenAI’s chatbot breaches data protection rules

ChatGPT: Italy says OpenAI’s chatbot breaches data protection rules

ReutersBy Imran Rahman-JonesBBC NewsChatGPT, the artificial intelligence-powered chatbot, breaches rules on data protection, an Italian watchdog says.An inquiry by Italy's Data Protection Authority (DPA) found data privacy violations, although it did not detail what the specific breaches were.The chatbot, which was launched at the end of 2022, relies on being fed large amounts of data from the internet.ChatGPT's maker OpenAI…
Read More
Lloyds to end mobile banking van service

Lloyds to end mobile banking van service

By Sam GruetBusiness reporter, BBC NewsLloyds is closing its mobile van banking service this year, after announcing 1,600 branch job cuts in a move towards online banking. The banking group runs the facility as an alternative to High Street branches, with vans visiting towns and cities across the UK.It said the service, which it runs for its Lloyds Bank and…
Read More
Channel 4 braces itself for more than 200 job cuts

Channel 4 braces itself for more than 200 job cuts

PA MediaBy Yasmin RufoBBC NewsChannel 4 is expected to announce plans to cut more than 200 jobs after a decline in demand for advertising.That equates to 15% of the roughly 1,300 staff currently employed.In November, the publicly owned British broadcaster's chief executive said the TV industry was reeling from the worst advertising downturn since 2008. A spokesperson said "whilst organisational…
Read More
Superdry eyes cost cuts after store closure reports

Superdry eyes cost cuts after store closure reports

ReutersBy Michael RaceBusiness reporter, BBC NewsSuperdry has said it is exploring "cost saving options" after reports said it was considering a revamp that could include store closures and job cuts.The fashion retailer said the move was in line with its turnaround strategy and that it was prioritising "its cost reduction agenda".At the weekend, reports suggested it was considering a major…
Read More
Ryanair trims profit forecast after online travel agent row

Ryanair trims profit forecast after online travel agent row

Getty ImagesRyanair has cut its profit expectations for the year to the end of March, after some online travel agents stopped selling its flights. The airline reduced fares to fill seats in December after it said sites including Booking.com, Kiwi and Kayak suddenly removed its flights. Ryanair said it expected an after-tax profit of up to €1.95bn, down from its…
Read More