Latest news from BBC Business
Tax credit overpayments 'to soar'Many more people will face having to pay back some of the money paid to them as tax credits because of Budget changes, experts say.Interns are 'entitled to be paid'Many young people working free as interns may legally be entitled to pay, a report says.Addresses set to lose county nameCounties appear set to be dropped from postal addresses in future years after complaints about out-of-date names.US economic growth slows to 2.4%US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.Strikes and ash extend BA lossesBA reveals a steep quarterly loss of £164m after being hit by cabin crew strikes and disruption caused by the volcanic ash cloud.Northwest agrees to pay $38m fineNorthwest Airlines will plead guilty and pay a $38m fine for fixing air-cargo prices, the US justice department says.Immigrant worker limit criticisedGovernment plans to limit the number of skilled foreign workers allowed into the UK are criticised by the Lord Mayor of London.Airbus firm EADS lifts output aimAirbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.Royal Mail pension plan in doubtThe Pensions Regulator is challenging a crucial plan to pay off the £10bn deficit in the Royal Mail pension scheme.Fraud charges over £115m inquiryA businessman investigated by City of London police is facing 30 charges of fraudDeadline for tax credits renewalFamilies face missing out on financial assistance if they miss Saturday's deadline to renew tax credits.Disney sells Miramax film studiosWalt Disney announces the sale of its Miramax film division for about $660m to a group of private equity investors.Sale of EDF's UK networks agreedA consortium headed by Hong Kong billionaire Li Ka-Shing agrees to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).Benefits face 'radical' shake-upMerging all tax credits and benefits into a single payment is one option being considered by Iain Duncan Smith in a "radical" welfare shake-up.Fugitive Nadir will stand trialFugitive Polly Peck tycoon Asil Nadir, who fled to northern Cyprus in 1993, confirms he will come back to the UK to stand trail on theft charges.US sees paper profit on bail-outsAssets bought by the US to bail out AIG and Bear Stearns are showing a paper profit, the Federal Reserve Bank of New York says.Chip sales boost Samsung profitsSamsung Electronics reports record quarterly profits thanks to higher sales of smartphones and components such as memory chips.Industry toasts rise in beer sales, but pubs miss outGood weather and football's World Cup is thought to have given a boost to beer sales in the UK, industry figures suggest.Aldi's 'elusive' billionaire co-founder diesThe billionaire co-founder of budget supermarket Aldi, Theo Albrecht dies, aged 88.Fixed retirement age to be axedPeople reaching the age of 65 will no longer be forced to retire from October next year, under plans announced by the government.House price inflation eases againUK house prices fell 0.5% in July, the Nationwide says, cutting the annual rate of house price inflation to 6.6% from 8.7%.Landmark ruling on divorce moneyA "ground-breaking" Court of Appeal judgement removes the protection previously given to thousands of people in divorce proceedings.California in 'fiscal emergency'California governor Arnold Schwarzenegger declares a fiscal state of emergency, putting pressure on lawmakers to pass a budget.Review warns of 60,000 job cutsUp to 60,000 people working in the public sector in Scotland could lose their jobs, according to an independent review commissioned by ministers.China allows IMF report releaseChina allows the publication of an International Monetary Fund staff report on its economy for the first time since 2006.BP boss scaling back oil effortThe incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.Gambling firms reveal merger planThe UK's Partygaming and Austrian firm Bwin unveil plans to merge and create the world's largest online gaming business.Citigroup agrees $75m fraud fineBanking giant Citigroup agrees to pay $75m to settle civil charges that it misled investors over potential losses from subprime mortgages.ITV wins Rugby World Cup rightsITV successfully holds onto the UK TV rights for the next two Rugby World Cups, it is announced.P&G in London 2012 Olympics dealConsumer products giant Procter & Gamble becomes the 11th big firm to sign an Olympics sponsorship deal covering London 2012.Extent of Barcelona debt revealedA new audit into Barcelona's finances reveals the club's debt is 442m euros (£369.5m) after a loss of more than 77m euros (£64.36m) last season.Iran trade sanctions hit Dubai portIn Dubai's port area, the renewed clampdown by the US on trade with Iran is hurting many legitimate, local businesses.BP boss scaling back oil effortIncoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.Fuel protests: 'Three days from anarchy'Tom Feilden investigates whether the lessons on food security from the fuel protests 10 years ago have been learnedNovel take on French home shortageYoung French people having difficulty finding affordable housing are being given the chance to help older members of society and put a roof over their own heads.IDS: Welfare system 'close to breaking'Work and Pensions Secretary Iain Duncan Smith says welfare reform will be "humanizing" rather than "finger wagging"Iran sanctions: Turkey's dilemmaTurkey is facing a difficult decision after the EU approved an embargo on foreign trade with Iran this week.US GDP figures show 2.4% growthThe US economy grew 2.4% during the second quarter, according to figures published by the US government.Sale of EDF's UK networks agreedA consortium headed by Hong Kong billionaire Li Ka-Shing has agreed a deal to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).Picking up Penguins for 75 yearsA colourful history of the famous book publisherHit by sanctionsBlack market boom as Dubai curbs trade with IranPensions timebombRussians fear the benefits system will cease to existNew faceCan the new Metro Bank really shake up High Street banking?
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