Business

Deloitte will cut hundreds of jobs across the UK due to a slowing in demand for advisory services from clients in an economic climate that is more difficult. According to a source familiar with the plans of the accounting firm, it is…

Citigroup announced its largest reorganisation since almost two decades. The company gave more control to its chief executive Jane Fraser and simplified its management structure. The changes are coming as Fraser battles to turn the…

BMW will invest over £600mn in Oxford to produce electric Minis, preserving the historic plant. This is a vote for confidence in the UK auto industry. According to sources familiar with the situation, the German automaker's investment at…

The Restaurant Group is finalising a deal to sell the Frankie and Benny's and Chiquito's restaurant chains to the owner of Cafe Rouge, in the latest concession to activist investors pushing for a shake-up of the struggling casual dining…

China's slowing economic growth is "very concerning", according to the head of Europe's largest home appliance manufacturer. He warned that the vast manufacturing sector in China could export cheap products abroad as the domestic market…

WeWork is seeking to renegotiate nearly all of its leases around the world, weeks after the SoftBank-backed office space group warned that there was “substantial doubt” about its ability to continue as a going concern. The New York-based…

As Gulf oil wealth flows to all corners of the globe -- backing mega mergers, propping up economies and upending the world of sport -- moves by a key member of Abu Dhabi's ruling family have positioned him as one of the world's most…

Country Garden, a Chinese property developer, paid two dollar bonds on Tuesday within the grace period. This ended a month long saga which had been the focus of investors' worries about China's struggling real estate sector. After local…

Asda's billionaire owners have been asked to provide details about interest-free loans allegedly given to finance the purchase of private planes. Darren Jones, the chair of the Business and Trade Select Committee, wrote to Mohsin…

Nestle divested its peanut allergy business, which it had acquired three years earlier. The treatment was not taken up by doctors or allergy sufferers. Palforzia is designed to reduce the frequency and severity allergic reactions in…

After a number of failures, a leading British household electricity supplier wants to reverse new rules that were intended to boost the financial resilience of suppliers. Utilita has around 800,000 clients and argues the regulator…

Foreign investors sold record amounts of Chinese shares in August, as Beijing's piecemeal measures to support the economy failed to ease concerns about the slowing growth and the worsening property crisis. The unprecedented outflows…

Goldman Sachs used a fund created with Chinese state funds to purchase a number of US and UK businesses, including one that has a cyber-security business and provides services to British government. This is happening as tensions between…

SoftBank's chip designer Arm, which is owned by SoftBank, has begun the countdown for the largest US initial public offering (IPO) in nearly two years. The company unveiled a preliminary prospectus to be listed on Nasdaq early next month.…

Goldman Sachs has begun exploring the sale of its investment advisory business, which it acquired four year ago. This is a further retreat away from Goldman Sachs' goal to become a major bank for mass-market clients. The Wall Street firm…

WeWork was once valued at $47.5 billion. The company had to merge 40 shares into one on Friday to maintain its stock above $1 in order to avoid delisting from the New York Stock Exchange. Experts suggest that the fall and rise of WeWork…

The UK government will invest £100m in an effort to gain a foothold for the UK on the global stage of producing computer chips that power artificial intelligence. Taxpayer funds will be used to create a national AI resource for Britain…

BAE Systems is moving into the US space domain with the $5.6bn acquisition of Ball Aerospace, a supplier of mission-critical space systems, in one of the biggest takeovers by a UK company this year. Charles Woodburn, chief executive of…