Business

Jockey Club horse racing posts record annual turnover

[ad_1] Image copyright Getty Images The Jockey Club, which operates 15 racecourses, including Aintree, Sandown Park, Cheltenham and Newmarket, has posted record annual turnover for 2017.Revenues were £201.1m, up 5.2% on 2016, with operating profits before prize money also up, to £44.8m from £43.4m.Prize money was up 10.1% to a record £22.9m. That meant profits after prize money fell slightly to £21.9m.Jockey Club boss Simon Bazalgette said he was pleased
Business

Bookmakers aim to avoid gaming machine ‘catastrophe’

[ad_1] Image copyright PA Bosses of leading UK betting firms have sent a letter to Culture Secretary Matt Hancock in a bid to prevent the imposition of a £2 top stake on fixed-odds betting terminals (FOBTs).At present gamblers can wager up to £100 a spin on the electronic machines.Ladbrokes' owner GVC, William Hill, Betfred, Scotbet, and Jenningsbet say a £2 limit would have a "catastrophic impact on jobs and the
Business

Crackdown plan on Scottish limited partnerships

[ad_1] Image caption The review follows claims SLPs are being exploited by money launderers The UK government has unveiled plans to crack down on a business scheme which it says has been used to launder dirty foreign money. It follows a review of Scottish limited partnerships (SLPs) by the Department for Business, Energy and Industrial Strategy (BEIS).BEIS said SLPs had been used to move $80bn from Russia in just four
Business

Chinese firm Dalian Wanda opens $7.9bn ‘movie metropolis’

[ad_1] Image copyright AFP Image caption The site also features a shopping mall, restaurants and a huge cinema A sprawling film studio complex featuring a theme park, yacht club and hotel has opened in eastern China.Chinese firm Dalian Wanda has invested $7.9bn (£5.7bn) into the Qingdao Movie Metropolis, which it hopes will attract foreign producers to the country.The complex spans more than 400 acres and is said to include state-of-the-art
Business

Why you may have been eating insects your whole life

[ad_1] Image copyright Helen Soteriou Image caption All these products contain the natural food colouring carmine, which is made from an insect called cochineal If you are horrified by the thought of eating insects, the bad news is that you have probably done so many, many times.This is because one of the most widely used red food colourings - carmine - is made from crushed up bugs.The insects used to
Business

TSB: How it all went so wrong for the bank

[ad_1] Image copyright TSB Image caption TSB boss Paul Pester swimming during a charity triathlon last year All surfers know the feeling of being hit hard by a wave, being left bruised and disorientated, and then having to get up and do it all again.TSB chief executive Paul Pester, a fanatical surfer, must have felt much the same each day for the last week.His bank, which has five million customers,
Business

Oil major ExxonMobil posts profit rise

[ad_1] Image copyright Reuters Oil giant Exxon posted first-quarter earnings of $4.7bn (£3.4bn) on Friday.Profit at Exxon jumped 16% from the same period last year but still missed analyst expectations, despite rapidly rising crude prices. Revenue at the Esso-owner rose 16.3% to $68.2bn, which beat analyst expectations of $66.1bn.Oil prices are rising after years in the doldrums, which has weighed on Exxon, the largest listed oil producer in the world.
Business

US economic growth slows to 2.3%

[ad_1] Image copyright AFP Image caption US consumers were less enthusiastic at the shops in early 2018 US economic growth slowed to an annualised rate of 2.3% in the first quarter of 2018, the Commerce Department said on Friday.The figure is better than the 2% economists had predicted, but still down from the rate of 2.9% seen in the fourth quarter of 2017.Cautious consumer spending was blamed for the slowdown,
Business

Poundworld considers closing 100 stores

[ad_1] Image copyright Getty Images Discount retailer Poundworld is looking at closing about 100 of its 355 stores, putting up to 1,500 jobs at risk. The company is also considering an insolvency process called a Company Voluntary Arrangement (CVA).Like many retailers Poundworld has been hit by falling consumer confidence, rising overheads and the weaker pound.Reports have also said that department store chain Fenwicks, which has nine branches, may restructure itself,
Business

Facebook scandal: Who else has your data?

[ad_1] Image copyright Laurence Dutton Image caption You may never know how much data there is about you While Facebook desperately tightens controls over how third parties access its users' data - trying to mend its damaged reputation - attention is focusing on the wider issue of data harvesting and the threat it poses to our personal privacy.Data harvesting is a multibillion dollar industry and the sobering truth is that