BBC News - Business

The latest stories from the Business section of the BBC News web site.

Interns are 'entitled to be paid'

Fri, 30 Jul 2010 23:00:34 +0000

Many young people working free as interns may legally be entitled to pay, a report says.

BP boss scaling back oil effort

Fri, 30 Jul 2010 18:46:21 +0000

Incoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.

Fugitive Nadir will stand trial

Fri, 30 Jul 2010 15:59:17 +0000

Fugitive Polly Peck tycoon Asil Nadir, who fled to northern Cyprus in 1993, confirms he will come back to the UK to stand trail on theft charges.

P&G in London 2012 Olympics deal

Wed, 28 Jul 2010 13:48:54 +0000

Consumer products giant Procter & Gamble becomes the 11th big firm to sign an Olympics sponsorship deal covering London 2012.

IDS: Welfare system 'close to breaking'

Fri, 30 Jul 2010 08:05:08 +0000

Work and Pensions Secretary Iain Duncan Smith says welfare reform will be "humanizing" rather than "finger wagging"

Sale of EDF's UK networks agreed

Fri, 30 Jul 2010 09:50:38 +0000

A consortium headed by Hong Kong billionaire Li Ka-Shing agrees to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).

Citigroup agrees $75m fraud fine

Thu, 29 Jul 2010 20:59:05 +0000

Banking giant Citigroup agrees to pay $75m to settle civil charges that it misled investors over potential losses from subprime mortgages.

Strikes and ash extend BA losses

Fri, 30 Jul 2010 11:22:45 +0000

BA reveals a steep quarterly loss of £164m after being hit by cabin crew strikes and disruption caused by the volcanic ash cloud.

US economic growth slows to 2.4%

Fri, 30 Jul 2010 14:48:09 +0000

US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.

US sees paper profit on bail-outs

Fri, 30 Jul 2010 11:05:34 +0000

Assets bought by the US to bail out AIG and Bear Stearns are showing a paper profit, the Federal Reserve Bank of New York says.

Immigrant worker limit criticised

Fri, 30 Jul 2010 17:31:13 +0000

Government plans to limit the number of skilled foreign workers allowed into the UK are criticised by the Lord Mayor of London.

Gambling firms reveal merger plan

Thu, 29 Jul 2010 15:10:10 +0000

The UK's Partygaming and Austrian firm Bwin unveil plans to merge and create the world's largest online gaming business.

Extent of Barcelona debt revealed

Tue, 27 Jul 2010 13:49:43 +0000

A new audit into Barcelona's finances reveals the club's debt is 442m euros (£369.5m) after a loss of more than 77m euros (£64.36m) last season.

Addresses set to lose county name

Sat, 31 Jul 2010 02:58:54 +0000

Counties appear set to be dropped from postal addresses in future years after complaints about out-of-date names.

Fuel protests: 'Three days from anarchy'

Fri, 30 Jul 2010 07:11:25 +0000

Tom Feilden investigates whether the lessons on food security from the fuel protests 10 years ago have been learned

California in 'fiscal emergency'

Thu, 29 Jul 2010 10:49:33 +0000

California governor Arnold Schwarzenegger declares a fiscal state of emergency, putting pressure on lawmakers to pass a budget.

Iran sanctions: Turkey's dilemma

Fri, 30 Jul 2010 08:27:25 +0000

Turkey is facing a difficult decision after the EU approved an embargo on foreign trade with Iran this week.

Landmark ruling on divorce money

Thu, 29 Jul 2010 16:51:29 +0000

A "ground-breaking" Court of Appeal judgement removes the protection previously given to thousands of people in divorce proceedings.

Benefits face 'radical' shake-up

Fri, 30 Jul 2010 14:17:53 +0000

Merging all tax credits and benefits into a single payment is one option being considered by Iain Duncan Smith in a "radical" welfare shake-up.

Airbus firm EADS lifts output aim

Fri, 30 Jul 2010 15:31:18 +0000

Airbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.

Iran trade sanctions hit Dubai port

Fri, 30 Jul 2010 18:36:07 +0000

In Dubai's port area, the renewed clampdown by the US on trade with Iran is hurting many legitimate, local businesses.

US GDP figures show 2.4% growth

Fri, 30 Jul 2010 08:32:33 +0000

The US economy grew 2.4% during the second quarter, according to figures published by the US government.

Chip sales boost Samsung profits

Fri, 30 Jul 2010 06:25:52 +0000

Samsung Electronics reports record quarterly profits thanks to higher sales of smartphones and components such as memory chips.

Aldi's 'elusive' billionaire co-founder dies

Wed, 28 Jul 2010 17:07:01 +0000

The billionaire co-founder of budget supermarket Aldi, Theo Albrecht dies, aged 88.

Northwest agrees to pay $38m fine

Fri, 30 Jul 2010 19:45:44 +0000

Northwest Airlines will plead guilty and pay a $38m fine for fixing air-cargo prices, the US justice department says.

Disney sells Miramax film studios

Fri, 30 Jul 2010 10:16:58 +0000

Walt Disney announces the sale of its Miramax film division for about $660m to a group of private equity investors.

Royal Mail pension plan in doubt

Fri, 30 Jul 2010 14:31:24 +0000

The Pensions Regulator is challenging a crucial plan to pay off the £10bn deficit in the Royal Mail pension scheme.

New face

Thu, 29 Jul 2010 13:26:04 +0000

Can the new Metro Bank really shake up High Street banking?

Fraud charges over £115m inquiry

Fri, 30 Jul 2010 16:28:54 +0000

A businessman investigated by City of London police is facing 30 charges of fraud

Deadline for tax credits renewal

Fri, 30 Jul 2010 09:35:38 +0000

Families face missing out on financial assistance if they miss Saturday's deadline to renew tax credits.

BP boss scaling back oil effort

Fri, 30 Jul 2010 18:07:23 +0000

The incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.

House price inflation eases again

Thu, 29 Jul 2010 13:12:47 +0000

UK house prices fell 0.5% in July, the Nationwide says, cutting the annual rate of house price inflation to 6.6% from 8.7%.

China allows IMF report release

Thu, 29 Jul 2010 14:54:51 +0000

China allows the publication of an International Monetary Fund staff report on its economy for the first time since 2006.

Sale of EDF's UK networks agreed

Fri, 30 Jul 2010 22:21:50 +0000

A consortium headed by Hong Kong billionaire Li Ka-Shing has agreed a deal to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).

Novel take on French home shortage

Fri, 30 Jul 2010 06:10:15 +0000

Young French people having difficulty finding affordable housing are being given the chance to help older members of society and put a roof over their own heads.

Industry toasts rise in beer sales, but pubs miss out

Thu, 29 Jul 2010 23:05:58 +0000

Good weather and football's World Cup is thought to have given a boost to beer sales in the UK, industry figures suggest.

ITV wins Rugby World Cup rights

Wed, 28 Jul 2010 16:45:26 +0000

ITV successfully holds onto the UK TV rights for the next two Rugby World Cups, it is announced.

Hit by sanctions

Thu, 29 Jul 2010 22:59:29 +0000

Black market boom as Dubai curbs trade with Iran

Review warns of 60,000 job cuts

Thu, 29 Jul 2010 12:49:37 +0000

Up to 60,000 people working in the public sector in Scotland could lose their jobs, according to an independent review commissioned by ministers.

Picking up Penguins for 75 years

Fri, 30 Jul 2010 17:42:49 +0000

A colourful history of the famous book publisher

Tax credit overpayments 'to soar'

Fri, 30 Jul 2010 23:00:09 +0000

Many more people will face having to pay back some of the money paid to them as tax credits because of Budget changes, experts say.

Pensions timebomb

Thu, 29 Jul 2010 23:13:55 +0000

Russians fear the benefits system will cease to exist

Fixed retirement age to be axed

Thu, 29 Jul 2010 10:59:50 +0000

People reaching the age of 65 will no longer be forced to retire from October next year, under plans announced by the government.