Business

The fastest road car in the world revealed – and it’s electric

[ad_1] Image copyright Patrick Gosling / Stan Papior Beadyeye It's the most powerful street-legal car ever to come out of Italy. And when your competitors include Ferrari and Lamborghini, that's some badge of honour.It may even be the most powerful road car ever, although when you're dealing with hypercars (the noun supercar is no longer sufficient) it's a fine margin between first, second and third.But being number one is not
Business

Paperchase proposes store closures to cut costs

[ad_1] Stationer Paperchase has proposed a restructuring that involves the closure of five of its 145 stores.Another 23 stores will be at risk as it tries to cut their rents by 50%.The retailer is involved in a company voluntary arrangement (CVA) renegotiating terms with its creditors. Paperchase has been hit by fewer customers, increased rents and business rates, and higher costs due to the fall in the value of the
Business

San Francisco cost of living: A cookie factory’s story

[ad_1] The last remaining fortune cookie factory in San Francisco is on the verge of closure, thanks to sky-high rents and new technology, but its owner says he will never give up the family business, writes Lucy Sherriff.Golden Gate Fortune Cookie Factory, in the city's Chinatown, is the last factory of its kind in the area, after competitors were forced to close when overheads became too expensive.The family-run factory opened
Business

Countrywide fined £215,000 over money-laundering failings

[ad_1] Image copyright Getty Images Estate agent group Countrywide has been hit with a £215,000 fine for money-laundering failures by HMRC.The company was fined for failing to ensure that its money-laundering procedures and record-keeping were in line with regulations.HMRC also made surprise visits to 50 estate agents in a week to crack down on money-laundering in the industry.Countrywide told the BBC it has improved its anti-money laundering controls.Economic Secretary John
Business

Prince Charles charity link to Russian offshore network

[ad_1] Image copyright rubenvardanyan.info Image caption Ruben Vardanyan, left, meeting Prince Charles at a reception given at Dumfries House An investment bank led by an oligarch who collaborated with Prince Charles on charity work managed a network of offshore companies moving billions out of Russia.An international investigation has exposed how the network received money from companies linked to major fraud.The oligarch, Ruben Vardanyan, is the former boss of Moscow investment
Business

The prince, the oligarch and the stately home

[ad_1] Image caption Dumfries House In 2007 the Prince of Wales personally intervened in a last-minute bid to stop the sale of Dumfries House, a stately Ayrshire home with a precious collection of Chippendale furniture.He wanted to stop the house and its contents being separated and sold off by their then owner, the Marquess of Bute. He described how late in the day it was, telling a 2012 ITV documentary
Business

Great Blakenham SnOasis: Financial backing ‘in place’

[ad_1] Image copyright SnOasis Image caption The £300m snow sports centre is planned for a former quarry Financial backing is in place for a £300m snow sports centre, according to a report. Plans for SnOasis at Great Blakenham, near Ipswich, have been in the pipeline for 18 years, with outline planning consent agreed over a decade ago.The report, drawn up by officers at Mid Suffolk District Council, will go before
Business

Virgin Atlantic removes make-up demand from cabin crew

[ad_1] Image copyright Virgin Atlantic Virgin Atlantic has removed its long-standing requirement that female cabin crew wear make-up while on duty.Female cabin crew, whose uniform features a tight, red skirt, will also now be offered trousers automatically, rather than only when requested.It said it was a "significant change". Newer airlines, such as EasyJet and Ryanair, typically have relatively relaxed rules on uniform, but many longer-established airlines give rules on what
Business

Giraffe and Ed’s Easy Diner chains to close 27 sites

[ad_1] Image copyright PA The owner of Giraffe and Ed's Easy Diner is to close 27 restaurants putting hundreds of jobs at risk.The brands will enter a company voluntary arrangement (CVA) and close almost a third of their 87 restaurants.Boparan Restaurant Group (BRG) said sales had improved at the chains since they were acquired in 2016, but several sites remained unprofitable.Tom Crowley, chief executive of BRG, said: "The CVA is
Business

Car buyers overcharged £1,000 by dealers for loans, says watchdog

[ad_1] Image copyright Getty Images Some car buyers are being overcharged by more than £1,000 when they take out a loan to buy a car, the UK's financial watchdog has warned.The Financial Conduct Authority (FCA) said the industry practice of allowing dealers to set their own interest rates was costing consumers £300m a year.Dealers overcharge to boost their commission, the FCA's investigation concluded.It said "we will act to address harm