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Business picture of the day

• 1/38 Sports Direct is to offer retail workers guaranteed hours - Tuesday September 6

  Sports Direct has ditched zero-hours contracts for some of its workers after sustained criticism from MPs and shareholders, but agency workers are not included.

  PA

• 2/38 Apple chief executive, Tim Cook lashes out at European Commission tax ruling - Thursday September 1

  The ruling that Apple must pay the Irish government €13 billion Euros in back taxes over its "sweetheart" deal in the country ignited fury in the company's boss who called it "maddening" and "political".

  AFP/Getty Images

• 3/38 ITV withdraws bid for Peppa Pig owner - Wednesday August 25

  ITV withdrew its £1bn offer for Entertainment One, owner of the popular children’s television franchise “Peppa Pig,” the company said in a statement.

  Getty Images

• 4/38 Scotland’s North Sea oil revenues collapse 97 per cent leaving £14.8bn budget hole - Wednesday August 24

  Scotland’s revenues from North Sea oil have collapsed by 97 per cent in the past year as oil prices have plummeted, reigniting a fierce debate over whether an independent Scotland could finance itself. Scottish Liberal Democrat leader Willie Rennie said: “The nationalists' case for independence has been swallowed up by a £14 billion black hole.” Taxes collected from oil production fell from £1.8 billion in 2015 to just £60 million in 2016. The gap between tax revenues and what Scotland spends is now 9.5 per cent, or £14.8 billion, compared to a 4 per cent deficit for the UK as a whole.

  Reuters

• 5/38 Swiss watch exports to UK rise as sterling falls -Tuesday August 23

  Swiss watch exports to the UK rose by 13.4% in July as tourists exploited the drop in the value of the pound to snap up luxury goods. The Federation of the Swiss Watch Industry said watches worth 110.2m Swiss francs (£87m) were exported to the UK last month, the best figures since November 2015.

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• 6/38 Public borrowing worse than expected in wake of referendum vote - Friday August 19

  The public finances were weaker than expected in the wake of the Brexit vote, official figures showed today. July has traditionally been a month of surplus for the public finances as it is one of the four months when companies pay a share of their annual corporation tax dues over to HMRC. City of London analysts had expected a surplus of £1.6bn.

  Getty

• 7/38 Surprise jump in retail sales in July after EU referendum vote - Thursday August 18

  There was no sign of British shoppers reining in spending in the wake of the EU referendum result, one of the first "hard" post Brexit vote set of statistics has shown. Retail sales jumped 1.4 per cent in July, more than reversing the 0.9 per cent decline in June, according to the Office for National Statistics.

  PA

• 8/38 Unexpected fall in joblessness post Brexit vote - Wednesday August 17

  The UK claimant count unexpectedly declined last month, suggesting the British labour market held up reasonably well in the wake of the Brexit vote.

  Rex

• 9/38 Inflation rises in wake of Brexit vote - Tuesday August 16

  Consumer price inflation picked up in the wake of the UK’s Brexit vote, hitting its highest rate since November 2014. The Office for National Statistics said the annual rate of CPI inflation was 0.6 per cent, up from 0.5 per cent in June and slightly higher than City of London analysts had been expecting.

  PA

• 10/38 Sports Direct warehouse staff who were underpaid could receive £1m back pay - Monday August 15

  Thousands of workers at British retailing group Sports Direct’s warehouse are set to receive back pay totalling an estimated £1 million for non-payment of the minimum wage, Britain’s largest union confirmed. The back pay follows an admission by Mike Ashley, the founder of Sports Direct, that his company has broken the law by falling to pay the national minimum wage at a hearing of the House of Commons Business, Innovation and Skills (BiS) select committee in June.

  Getty Images

• 11/38 Eurozone GDP growth rate halves in second quarter - Friday August 12

  Eurozone growth slipped back in the second quarter of the year and dried up entirely in Italy, the bloc’s most troubled large economy. Eurostat reported that the single currency’s aggregate GDP expanded by 0.3 per cent in the three months to June, down from the 0.6 per cent rate in the first quarter. This was in line with the statistics agency’s “flash” estimate from 29 July.

  Getty

• 12/38 Arianna Huffington steps down as Huffington Post editor-in-chief - Thursday August 11

  Arianna Huffington is stepping down as Editor-in-Chief of Huffington Post. The business woman has said she is leaving the post to concentrate on her new health and wellbeing venture, Thrive Global. Announcing the move on Twitter, Ms Huffington said she is "filled with gratitude" for her colleagues at the media outlet.

  AP

• 13/38 Bank of England to face 'real trial' to implement monetary stimulus - Wednesday August 10

  It could be a “real trial” for the Bank of England to implement its £60bn government bond-buying programme to stimulate the economy in the wake of the Brexit vote, market analysts have predicted. The Bank sought to buy £1.17bn of long-dated government bonds, or Gilts, on Tuesday but unexpectedly missed this target by £52m, raising doubts about whether Threadneedle Street will be successful in implementing its latest round of money-printing stimulus known was quantitative easing.

  Getty

• 14/38 UK economy contracted after Brexit vote according to leading economists - Tuesday August 9

  The UK economy contracted by 0.2 per cent in the month following the Brexit vote giving Britain an “evens” chance of slipping into recession, according to the latest forecast from the National Institute of Economic and Social Research (NIESR). NIESR, which uses a respected economic model to produce its monthly activity estimates, says output in July dropped by 0.2 per cent as the economy took a hit in the wake of the shock vote by a majority of the British public on 23 June to leave the European Union.

  NIESR

• 15/38 Mexico's richest man Carlos Slim pushes for three-day work week - Friday August 5

  Carlos Slim, the richest man in Mexico, has said he wants to introduce a three-day work week and a later retirement age to counterbalance changes in the way that civilisation is living and working

  Reuters

• 16/38 Bank of England cuts interest rates to 0.25% - Thursday August 4

  Interest rates were slashed to a new historic low of 0.25 per cent and the Bank of England has pushed the button on another £170 billion of monetary stimulus to stop the economy sliding back into recession in the wake of the UK’s Brexit vote

  Reuters

• 17/38 McDonald's shares down after disappointing US sales - Tuesday July 26

  Shares in Maccy D's have fallen nearly 4% on Wall Street after reporting disappointing earnings. The company reported lower than expected sales growth at its established US restaurants, despite the popularity of its All Day Breakfast. The fast-food chain added that it faced "a challenging environment in several key markets."

  Associated Press

• 18/38 Verizon confirms Yahoo buyout worth $4.83bn - Monday July 25

  Verizon has confirmed that it will buyout Yahoo for $4.83 billion in cash, marking the end of the six-month sale process and the end of an era for a company that once defined the internet. Marissa Mayer, Yahoo CEO, described the deal as "an important step in unlocking shareholder value for Yahoo". The deal marks the end of the six-month sale process and the end of an era for a company that once defined the internet

  Getty Images

• 19/38 Brexit shock pushes UK services and manufacturing into contraction says new survey - Friday July 22

  The Brexit shock has given the economy "a good kicking" according to a special set of surveys of businesses taken in the wake of the European Union referendum vote, which suggest the UK economy is now contracting at its steepest pace since the last recession in early 2009. The “dramatic deterioration” will significantly increase the odds of a major monetary stimulus from the Bank of England next month to support the economy.

  Rex Features

• 20/38 Euro rises after Mario Draghi relaxed statement on Brexit impact - Thursday July 21

  The president of the European Central Bank Mario Draghi struck a sanguine tone on the aftermath of the UK’s Brexit vote, but moved equity markets by urging a "public backstop" for the eurozone's struggling lenders. The ECB kept its main interest rates on hold and in his press conference Mr Draghi stressed markets had responded in an orderly fashion to the UK’s shock plebiscite result on 23 June.

  Getty

• 21/38 Italy eyes private deal to bail out bank - Wednesday July 20

  Italy is eyeing a “private sector” solution to rescue Monte dei Paschi di Siena, the world's oldest bank, in an attempt to sidestep tough EU rules on bailouts, the Financial Times reports. However, Rome’s main options to prop up the heavily indebted bank involve using funds from a state-backed Italian bank. That raises the risk of running foul of EU curbs on state bailouts. On Tuesday the European Court of Justice backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders.

  Reuters

• 22/38 IMF slashes UK growth outlook in wake of Brexit vote - Tuesday July 19

  The International Monetary Fund has slashed its forecasts for UK growth, becoming the first official economics body to revise its growth estimates heavily downward in the wake of the shock Brexit vote last month. The IMF now says it expects the UK GDP to grow by 1.7 per cent this year, down from the 1.9 per cent it forecast in April, and the forecast for 2017 is just 1.3 per cent, down from 2.2 per cent previously.

  Getty

• 23/38 ARM Holdings chipmaker to be bought by Japan’s Softbank for £24bn - Monday July 18

  British Finance Minister Philip Hammond (L) greets Masayoshi Son, CEO of Japanese mobile giant SoftBank, outside 11 Downing street in central London on July 18, 2016. Japanese mobile giant SoftBank has agreed a cash takeover of iPhone chip designer ARM Holdings for around £24.3 billion, the pair said Monday, in a major investment boost for post-Brexit Britain.

  Getty Images / AFP / NIKLAS HALLE'N

• 24/38 Pokemon Go craze sees Nintendo share price increase 86% in a week adding £15bn to company value - Friday July 15

  nvestors are still catching some of the global success of Pokémon Go global success, which has Nintendo shares hit a six-year high. The Japanese game company’s shares have climbed 86 per cent since last Thursday on the back of Pokémon Go’s popularity. That’s almost $15 billion (£11.1 billion) added to the company market value in a week.

  Getty Images

• 25/38 Bank of England holds interest rates at 0.5% - Thursday July14

  The Bank of England’s Monetary Policy Committee has decided to keep interest rates on hold, despite heightened market expectations that it would cut the cost of borrowing to a new historic low of 0.25 per cent to cushion the economy in the wake of the shock Brexit referendum result. But the Bank has also heavily hinted that a rate cut will come in August to support a weakening economy.

  Getty

• 26/38 Brexit will plunge the UK into a recession in the next year, BlackRock says - Wednesday July 13

  Britain will be plunged into a recession this year and be plagued with lower economic growth for another five because of the shock decision for the UK to leave the EU, BlackRock analysts have said. BlackRock is the largest asset manager in the world with $4.6 trillion under management as of 2015. Richard Turnill, chief investment strategist, has said that firm's "base case" is recession, meaning at a minimum, it expects the UK GDP to fall for two successive quarters in a row.

  Getty Images

• 27/38 Nintendo shares soar on Pokemon Go success - Monday July 11

  Shares in Japan's Nintendo = soared again on Monday, bringing market-value gains to $7.5 billion (£5.78 billion) in just two days as investors cheered the runaway success of Pokemon GO - its first long-awaited venture in mobile. The game, which marries a classic 20-year old franchise with augmented reality, allows players to walk around real-life neighborhoods while seeking virtual Pokemon game characters on their smartphone screens - a scavenger hunt that has earned enthusiastic early reviews.

  Getty Images

• 28/38 John Lewis warns over sterling slump - Friday July 8

  The boss of John Lewis has warned that the fall in the value of the pound could become a "big issue". Managing director Andy Street said the weak pound could start driving costs higher next year. He also said it was too early to say if the UK's vote to leave the European Union had affected consumer spending.

  Getty Images

• 29/38 IMF chief Christine Lagarde urges quick Brexit to reduce economic uncertainty - Friday July 7

  Christine Lagarde, the head of the International Monetary Fund, has urged the UK government to make a quick withdrawal from the European Union in order to reduce economic uncertainty. The growth of the British economy will be heavily dependent on the new trade agreements the UK negotiates with the EU, Ms Lagarde said. In an interview with the Financial Times, Ms Lagarde said: “We want to see clarity sooner rather than later because we think that a lack of clarity feeds uncertainty, which itself undermines investment appetites and decision making.”

  Getty Images

• 30/38 KPMG appoint new 'head of Brexit' - Wednesday July 6

  Brexit has seen a boom in demand for legal and financial services as UK businesses race to make sense of the situation ahead of the UK leaving the EU. KPMG, one of the fourth largest accountancy firms in the world, has created a head of Brexit position to manage client advice as the UK leaves the EU.

  KPMG

• 31/38 Pound sterling falls below $1.31 hitting new 31-year low

  The pound fall below $1.31 for the first time in 31 years amid growing concerns about the financial stability of the UK after the decision to leave the EU. The last time the pound was worth less than $1.31 was in September 1985.

• 32/38 Three former Barclays traders found guilty in benchmark rate rigging trial - Monday July 4

  Three former Barclays traders have been found guilty of conspiring to fraudulently manipulate global benchmark interest rates at a trial in London. Jay Merchant, 45 and born in Calcutta, was convicted unanimously. Jonathan Mathew, 35, a Libor submitter, and Alex Pabon (picture), 38, were found guilty by a majority verdict after the 10-week trial at Southwark Crown Court.

• 33/38 Bank of England to cut interest rates says Mark Carney - Thursday June 30

  The Bank of England is likely to cut interest rates over the summer to combat a post-Brexit vote slowdown, the Bank's Governor, Mark Carney said today. The Governor's words, in a speech at the Bank's Threadneedle Street headquarters, sent the pound instantly and sharply down against the dollar as financial market traders responded to the news of the stimulus. READ MORE Brexit: 5 charts that show the vulnerability of the UK economy Ten year government bond yields also plummeted.

  Getty

• 34/38 Toyota recalls more than 3.37 million cars - Wednesday June 29

  Toyota, the Japanese car maker, said it was recalling millions of car worldwide and thousands in the UK over defective airbag concerns and fuel emissions control units.

  Reuters

• 35/38 First upside down house in Kuala Lumpur - Tuesday June 28

  A two-storey house is the latest attraction for tourists in the Malaysian capital city. Kuala Lumpur Upside Down House is a two-storey house and is the latest attraction for tourists arriving to the Malaysian capital where everything inside such as the furniture are placed in an upside down position.

  Getty Images

• 36/38 George Osborne says he’ll delay ‘punishment budget’ as pound slumps to new 31-year low - Monday June 27

  George Osborne has sought to calm volatile financial markets in the wake of the Brexit vote in the referendum, but has left his own future as Chancellor in doubt. “Britain is ready to confront what the future holds for us from a position of strength” he said in a statement at 7.15am at the Treasury. "Growth has been robust and employment is at a record high. Our economy is now about as strong as it could be to confront the challenge the country now faces."

  AFP/Getty Images

• 37/38 Markets react to Reacts to EU referendum vote result - Friday June 24

  nalyst Robert Halver reacts at the Frankfurt Stock exchange the day after a majority of the British public voted for leaving the European Union on June 24, 2016 in Frankfurt am Main, Germany. The FTSE 100 plunged more than 8 per cent in its biggest opening slump since the financial crisis, wiping £120 billion off the value of the 100 biggest UK companies, after the UK voted to leave the EU.

  Getty Images

• 38/38 Lock of David Bowie's hair to be auctioned - Thursday June 22

  A clipping of David Bowie's blonde coiffure could fetch thousands this week at auction. The current bid is for $2,000 on Heritage Auctions, but The Associated Press is reporting that the Beverly Hills–based auction house is expecting to get more than $4,000 for the lock on Saturday.

  Getty Images