The 10 biggest business stories on Monday January 18

Tata Steel to cut 1,050 jobs in Britain; Middle East stock markets crash as Iran enters oil war; Uber to partner with Airbus for on demand helicopter service

Tata Steel, the biggest steelmaker in Britain, will cut more than 1,000 jobs across the country (Getty Images)

1. Share prices in the energy-rich Gulf states nosedived Sunday following the sharp decline in oil prices and the expected rise in Iranian crude exports after the lifting of sanctions.

2. Tata Steel, the biggest steelmaker in Britain, will cut more than 1,000 jobs across the country. It comes on top of hundreds of cuts announced by Tata last year due to low steel prices.

3. The richest one percent of the world's population now own more than the rest of us combined, aid group Oxfam said Monday, on the eve of the World Economic Forum (WEF) in Davos.

4. Wesfarmers, Australian retail giant, has confirmed the purchase of UK retailer Homebase for £340 million.

5. Oil and gas services company Amec Foster Wheeler said chief executive Samir Brikho is stepping down, and appointed chief financial officer Ian McHoul as his interim replacement.

6. National Australia Bank, the country's biggest lender by assets, has valued its UK unit, Clydesdale Bank, at up to A$4.3 billion ($3 billion), according to IPO pricing terms.

7. Disruptive labour market changes, including the rise of robots and artificial intelligence, will result in a net loss of 5.1 million jobs over the next five years in 15 leading countries, according to an analysis published in Davos on Monday.

8. Airbus will join forces with Uber to provide helicopter rides on demand through its app, the Wall Street Journal reported on Sunday.

9. Publicis Groupe, the French advertising agency holding group, is celebrating its 90th anniversary with the launch of a fund and mentorship program that is expected to raise tens of millions of dollars for 90 startups, Business insider reported.

10. London still has the highest overall salary but earnings in Leeds grew almost twice as fast as in the capital in 2015, according to the website CV-Library, the Telegraph reports.