Business

Image copyright Getty Images Image caption A £15bn bill for PPE has helped to push the cost of the coronavirus outbreak to £190bn Public spending on the battle against coronavirus has risen to nearly £190bn, according to figures released by the Treasury on Wednesday. In his summer statement on Wednesday, …

Like many young teenagers, Jonathan Peniket enjoyed buying random player “packs” to build up his team on the Fifa football video game. But when his mum was diagnosed with cancer, his spending on these packs, or “loot boxes”, became – as he sees it – an addiction he couldn’t control. …

Image copyright Getty Images The boss of Burger King UK has warned that economic damage triggered by the coronavirus pandemic may push the fast food chain to permanently shut up to 10% of its restaurants. Those closures could lead to more than 1,600 lost jobs, Alasdair Murdoch said. Government schemes …

Image copyright Getty Images The chancellor’s incentive scheme to persuade employers to keep on furloughed staff beyond October may not be enough to stem job losses. The furlough scheme will be replaced with a one-off £1,000 reward for each worker retained for three months, Rishi Sunak said in his summer …

Image copyright Sally Stuart Image caption Mike and Sally Stuart are full of joy after saving £8,000 on stamp duty “When I found out that we were going to have a stamp duty holiday, I jumped for joy,” says Sally Stuart. The Salford-based university lecturer reckons the chancellor’s announcement on …

Image copyright AFP The UK government has nominated former cabinet minister Liam Fox as its candidate to lead the World Trade Organization. The body is searching for a new director-general to replace Brazilian Roberto Azevedo at the end of August. Boris Johnson said Mr Fox was a “passionate advocate of …

Image copyright Getty Images Ryanair cabin crew are to accept a temporary pay cut over four years to keep their jobs. The development comes a week after Ryanair pilots voted for a pay cut to save hundreds of jobs. Airlines throughout the world have been struggling to remain viable after …

Image copyright PA Media Image caption Attractions could, but might not, pass the VAT cut on to ticket prices A reduction in VAT might not cut the price of a family trip to the rollercoasters, but venues hope it may give their sector less of a rocky ride. Chancellor Rishi …

Image copyright Getty Images Brooks Brothers, one of America’s oldest clothing brands, has become the latest US retailer to file for bankruptcy protection. The menswear company, which is more than 200 years old, sought court protection from creditors on Wednesday while it looks for a buyer. It had already shut …

Image copyright House of Commons/PA Chancellor Rishi Sunak has delivered his summer economic plan to help the UK economy recover from the impact of the coronavirus pandemic. It includes plans to protect jobs, help younger workers and encourage spending with measures such as a VAT cut for leisure activities and …