Business

Energy supplier Toto ceases trading

Energy supplier Toto has ceased trading, becoming the 16th smaller provider to go bust since the start of last year. The company, which had 134,000 domestic customers, had bought 43,000 of those from another failing supplier – Solarplicity – in July. Energy regulator Ofgem said it did not have the power to step in at […]

Business

Fresh doubts about British Steel as bid hopes fade

Image copyright Reuters The government is ready to open talks with bidders for British Steel after failing to agree terms with the Turkish company granted exclusivity in August. Turkey’s Ataer Holding had until Thursday to reach an agreement to buy the business, which includes the works in Scunthorpe. Since May, British Steel has been kept […]

Business

Boeing expects 737 Max to fly again by New Year

Image copyright Getty Images Boeing has said it expects its troubled 737 Max aircraft to return to the skies before the end of the year. The jet was grounded after two fatal crashes, including last year’s Lion Air disaster which killed 189 people. Just hours after Indonesian investigators blamed mechanical and design problems for the […]

Business

WeWork ‘accepts takeover by Softbank’

Image copyright WeWork Japanese investment giant Softbank is set to take control of WeWork after the office sharing firm’s plans to raise money via stock markets collapsed. WeWork’s board has reportedly accepted an offer in which Softbank will buy billions worth of shares, including $1bn from co-founder Adam Neumann. The rescue deal provides much needed […]

Business

Dragons’ Den success story firm risks collapse

Image copyright Alamy A firm founded by the youngest entrepreneur to secure investment on the BBC’s Dragons’ Den is on the brink of insolvency, the BBC has learnt. Gripit Fixings makes a product designed to fix heavy items to plasterboard. Its inventor, Jordan Daykin, was just 18 when he appeared on the programme. Now investors […]

Business

Airbnb probed by UK tax authorities

Image copyright Getty Images Home rentals site Airbnb has warned a tax inquiry by HM Revenue & Customs could lead to legal proceedings. A note in newly filed accounts for Airbnb UK said it had been contacted by HMRC over “tax laws or regulations impacting the company’s business”. “The company is also subject to tax […]

Business

Drugs firms reach $260m US opioid settlement

Image copyright Getty Images Four drugs companies have reached a $260m (£200m) deal with two Ohio counties over their role in fuelling the US opioid crisis. The agreement averts a trial that had been scheduled to start in Cleveland. The counties had been seeking billions from Israel-based drugmaker Teva and drug distributors AmerisourceBergen, Cardinal Health […]