Section Desk
Business
Markets, companies, economy, startups, and personal finance.
Bank of America fined $1.2bn for money laundering failures
Third largest fine in US treasury’s history, due to failure to report suspicious activity, may affect third-quarter earningsBank of America (BAC.N), has been fined $1.21bn by US regulators for widespread failures to det...
US inflation rises more than expected ahead of midterm elections
The pace of price rises increased to 3.7% in the year to September, driving by higher motor fuel costs.
Why are so many Americans forced to work standing up – unlike their president? | Arwa Mahdawi
Airports’ TSA staff have been stripped of their chairs in the name of ‘professionalism’. Most supermarket staff have never had them. Meanwhile, Donald Trump is seated at his desk – and apparently snoozingGreat news for...
Civil servant faked illness so he could juggle five jobs from home, court hears
Kashim Chowdhury is accused of fraudulently juggling multiple government jobs while working from home.
Faisal Islam: What surprise praise for UK economy tells us about the Budget
On three occasions in the past 24 hours, top IMF officials have praised UK plans to reduce its annual levels of borrowing.
I work for a major insurer. Much of my industry is fudging the numbers in the face of the climate crisis | Anonymous
Insurers are taking on more risk than they should. If – or when – a major disaster hits, the catastrophe will have far-reaching consequencesI work for a major insurer, assessing the risk posed by natural disasters on pr...
Wayfair among firms fined millions for misleading sales tactics
The Competition and Markets Authority has fined Wayfair, Appliances Direct, and Gold's Gym £6m in total.
Scale back on hake and coley, seafood charity tells shoppers
Declining stocks and increased fishing pressure have led to lower sustainability ratings for two popular cod alternativesUK shoppers have previously been urged to avoid UK-caught cod and to buy European hake or coley in...
IMF sounds alarm on rising government borrowing costs and cyber-attack risks – business live
Rolling coverage of the latest economic and financial newsGlobal financial system is failing developing countries, says Ed MilibandElsewhere in Bangkok, Bank of England chief economist Huw Pill has suggested that the fi...
Businesses could be barred from non-essential water use amid supply threat
Golf clubs, private schools and car washes may face tighter rules from water companies as England’s drought continuesThree water companies are seeking to impose severe restrictions on businesses as the drought continues...
Heating oil users face fuel or food winter choice'
It comes as ministers say they will tighten up rules on heating oil and promote competition
UK will not put tariffs on Chinese vehicles, says Jonathan Reynolds
Exclusive: Business secretary says he will not change trade rules due to EU pressure and denies UK will become a ‘back door’ for cheap importsThe business secretary has hit back at European demands for British tariffs o...
Global financial system is failing developing countries, says Ed Miliband
UK foreign secretary will call for World Bank and others to help governments trapped by hefty borrowing costsThe foreign secretary, Ed Miliband, will claim the global financial system is failing developing countries, as...
Not building third runway would be 'huge missed opportunity', warns Heathrow boss
Thomas Woldbye tells the Today progamme it would be "good to know" the government's position on the project, after comments made by the prime minister.
Palantir is worming its way into the British state – it’s time to curb this controversial US company’s influence | George Monbiot
Tom Watson has said ‘mob rule’ must not decide public contracts. Perhaps he should take a look at his new employerWhat a world we live in. Imagine: gangs dragging civil servants off commuter trains and beating them up b...
Bank of America hit with $1.2bn fine for money laundering failings
The bank inadequately flagged transactions linked to potential Chinese money laundering networks, the Treasury said.
Royal Mail losing 400 postal workers a week, says union
The CWU says more posties are leaving since a new delivery system was brought in, that it claims is not working in hundreds of offices.
Elon Musk becomes biggest donor of US midterms cycle with $366m spent
Musk’s midterm donations, mostly for rightwing candidates and causes, surpass his contributions to Trump in 2024Send us your questions on how the US economy is shaping the midterm electionsElon Musk has become the bigge...