Posts Categorized: Warren Fyfe

Tata Steel offers to pump £550m into closed pension fund

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Image copyright Getty Images Tata Steel UK has offered to pay £550m into its now-closed pension scheme and give the fund a 33% stake in its UK business. The former British Steel scheme was shut at the end of March as part of Tata’s plan to avoid going bust. Tata said the injection of new [...]

Share sale set to return Lloyds to private sector

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Image copyright Getty Images The government is set to say its remaining shares in Lloyds Banking Group have been sold eight years after pumping in £20bn to save it. The sale is expected to be announced on Wednesday by UK Financial Investments, which manages the government’s stake. At the height of the financial crisis taxpayers [...]

AirAsia to launch China joint venture

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Image copyright Getty Images Budget airline AirAsia has signed a joint venture agreement to set up a new low-cost carrier in China. It wants to tap in to demand in the country, which is set to overtake the US to become the world’s biggest aviation market within the next decade. Based in the central eastern [...]

Troubled Toshiba misses annual results deadline

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Image copyright Getty Images Toshiba has missed a deadline to file its annual results, but warned it was likely to report a loss of 950bn yen ($8.4bn; £6.5bn). The Tokyo Stock Exchange had given the Japanese giant until 15 May to report, but Toshiba said its auditors were still examining the figures. The estimated loss [...]

Ransomware cyber-attack a wake-up call, Microsoft warns

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Media captionHow to protect yourself online A cyber-attack that has hit 150 countries since Friday should be treated by governments around the world as a “wake-up call”, Microsoft says. It blamed governments for storing data on software vulnerabilities which could then be accessed by hackers. The latest virus exploits a flaw in a version of [...]

Fiat Chrysler in huge vehicle recall

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Image copyright Getty Images Image caption Three models of Ram pickup trucks are affected Fiat Chrysler is recalling more than 1.25 million pickup trucks worldwide over a software error that “may be related” to a death and two injuries. The faulty code could potentially disable the side air bag and seat belt locking mechanism when [...]

Households in South East England told to use water wisely

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Image copyright Getty Images Up to 3.6 million customers in south-east England have been told to save water, because of a lack of rainfall. Affinity Water, which supplies parts of the home counties, north London and Kent, says many rivers in the region are low on water. It said that since July last year, the [...]

Massive ransomware infection hits computers in 99 countries

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Image copyright Webroot Image caption The ransomware has been identified as WannaCry – here shown in a safe environment on a security researcher’s computer A massive cyber-attack using tools believed to have been stolen from the US National Security Agency (NSA) has struck organisations around the world. Cyber-security firm Avast said it had seen 75,000 [...]

Bank of England warns of consumer spending squeeze

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Bank of England governor Mark Carney has warned of a consumer spending squeeze this year as inflation rises and real wages fall. This year will be “a more challenging time for British households” and “wages won’t keep up with prices”, he said. He was upbeat about wage growth beyond 2017 – but only if the [...]

Sliding sales stoke fears for US department stores

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Image copyright EMMANUEL DUNAND/Getty Image caption Macy’s last year announced the closure of 100 stores and laid off thousands Weaker-than-expected sales at several US department store chains reignited concerns about the US retail sector and prompted investors to offload shares. Macy’s said like-for-like sales fell 4.6% in the first quarter compared with the same period [...]