More than half of Britons say they have been hit with extra fees on their credit cards, bank accounts mortgage or insurance in the last year. Two thirds say lenders and insurers are tricking them with dubious and difficult to compare headline prices.
Bitcoin’s latest expansion is into commercial airspace after Latvian airline airBaltic announced customers can start using bitcoins to pay for tickets. AirBaltic is the first airline to offer a bitcoin payment option.
Time Warner has changed its bylaws to prevent an unwanted takeover in the future. The move comes after the CNN parent company turned down an offer to be bought out by Fox News owner Rupert Murdoch last week.
China’s most popular fast food chains Yum Brands and McDonald's have apologized to customers after they suspended meat purchases from a Shanghai-based supplier under investigation for allegedly using rotten chicken and beef in its products.
Bank of America (BofA) has decided to hire more junior staff for its global corporate and investment banking unit. It’s an effort to ease the workload and improve the work life balance of young bank employees.
Major UK shareholders in BP have joined together to sue the British energy giant in the US over lost earnings from the infamous Deepwater Horizon oil rig blast in 2010. The case is the first in the US, where awards are much bigger than in the UK.
Officials from the European Commission have demanded that Luxembourg hand over documents relating to book retailer Amazon’s tax affairs. The crackdown by the EU has already affected Apple, Starbucks and carmaker Fiat’s financial arm.
British authorities are investigating whether invasive psychological research by Facebook has broken UK data protection laws. If proven the world’s most popular social network could face a £500,000 fine.
A new Russian law starting July 1 means Visa and MasterCard can no longer block Russian clients. It is part of legislation for a national payment system, and ensures electronic payments and protects Russians from being blocked after an incident in April.
France’s biggest bank has reportedly agreed an $8-9 billion settlement with US prosecutors over hiding $30 billion in money transfers to countries on the US sanctions blacklist. The fine against BNP Paribas could be a record for this type of violation.
The man behind the Tesla electric car now wants to build one of the world’s largest solar panel plants in upstate New York. Rooftop solar installer SolarCity is expanding the effort to produce more panels in the US, not in China.