Business

World Bank warns global economy faces grim outlook

The global economy faces a “grim outlook”, World Bank president David Malpass has warned, as the aftershocks of the pandemic continue to weigh on growth – especially in poor countries. His organisation’s latest forecast predicts global growth will slow to 4.1% this year from 5.5% in 2021. It attributed the slowdown to virus threats, government […]

Business

Heathrow Airport warns return to normal travel years away

Heathrow boss John Holland-Kaye said it underlined the crisis in the industry and the uncertainty facing travellers. A return to normal “could be years away”, the chief executive of the UK’s busiest airport warned. Just 19.4 million passengers passed through Heathrow in 2021 – 12.3% below 2020, the year the pandemic began. Last year’s number, […]

Business

Moxie Marlinspike leaves encrypted-messaging app Signal

Moxie Marlinspike, the co-founder and chief executive of encrypted-messaging app Signal, has resigned. He blogged it was a “good time to replace myself as CEO” after working on Signal for over a decade. Signal recently enabled crypto-currency payments within the app, which has concerned some users. Mr Marlinspike remains a board member of the Signal […]

Business

Ovo Energy sorry over advice to cuddle pets to stay warm

One of Britain’s largest energy suppliers has apologised after it advised customers they could cuddle pets and eat porridge to stay warm. Ovo Energy said it was “embarrassed” after a link to a blog “containing energy-saving tips” was sent to its SSE Energy Services customers. The company said it had removed the blog so it […]

Business

Shoppers swap party clothes for loungewear

Helen Dickinson, boss of the British Retail Consortium (BRC), said loungewear was “back in fashion”. But despite rising cases and concerns over a possible lockdown, UK retailers posted strong sales in December. Clothes and jewellery dominated Christmas gift buying at the tills. Total sales rose 2.1% in December compared with the same period a year […]

Business

Real estate giant moves from Shenzhen head office to cut costs

Cash-strapped Chinese real estate giant Evergrande has moved out of its Shenzhen headquarters to cut costs. Evergrande said it had moved to a property that it owns, but that it was still in the same city. It comes as its rival Shimao Group said on Tuesday it is in talks with potential buyers for some […]

Business

Energy bills: ‘I am already paying an extra £60 a month’

When you have to find an extra £60 a month to pay your energy bill, something has to give. For John Alderson, deciding on the occasional meal out or a trip to the cinema has become a more significant financial decision. The 64-year-old, who works in North Shields for a cleaning company, is one of […]