Financial news

• Tokyo eyes ¥1 trillion in financial support for Japanese firms ... - The Japan Times

  15-12-2016 23:10
  Tokyo eyes ¥1 trillion in financial support for Japanese firms ...
  The Japan Times
  The government is considering offering financial assistance through state-affiliated banks for projects won by Japanese companies for nuclear power plant c.en meer »
  
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• Tokyo eyes ¥1 trillion in financial support for Japanese firms pursuing U.K. ... - The Japan Times

  15-12-2016 23:10
  Tokyo eyes ¥1 trillion in financial support for Japanese firms pursuing U.K. ...
  The Japan Times
  The government is considering offering financial assistance through state-affiliated banks for projects won by Japanese companies for nuclear power plant construction in Britain, sources said Thursday. Under study is a plan for the Japan Bank for ...en meer »
  
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• Top 10% highest earners in Europe paid as much as bottom 50%, report finds

  15-12-2016 21:00 via theguardian.com
  
  Wage inequality between highest and lowest paid workers risks fuelling rise of nationalism, report warns, while gender pay gap highest among CEOsThe top 10% of highest paid workers in Europe together earn almost as much as the bottom 50%, according to a report from the International Labour Organization that calls on governments and companies to do more to ensure the fruits of economic growth are shared out.The UN agency used its latest report into global wage trends to examine earnings inequalit
  
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• The Guardian view on self-driving cars: apply the brakes | Editorial

  15-12-2016 20:52
  
  The big questions are less technological than societal. The answers will need consensus and debate rather than just more engineering improvementsThe decision by authorities in California to halt ride-hailing company Uber from operating a fleet of self-driving cars on the streets of San Francisco is a welcome move. Technology must not race ahead of the society in which it was created. It did not help that Uber’s cars were filmed jumping red lights. It’s not just that the values embedd
  
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• Economic output per person in London more than double rest of UK

  15-12-2016 20:49
  
  New ONS figures indicate regional inequality increased over past decade, but growth now gathering pace in north-westLondon’s economic output per person is more than double the average across the rest of the UK, according to new figures that underscore the challenge facing ministers as they vow to tackle the UK’s entrenched regional inequality.Official figures showed gross value added (GVA) per head – a measure of what is generated by economic activity in an area – was hig
  
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• All gas and gators. And Glenda Jackson too | Brief letters

  15-12-2016 20:49 via theguardian.com
  
  Energy tariffs | Glenda Jackson | UK jobs for EU workers | Dylan Thomas and RLS | Donald Trump cabinetOne of the reasons why relatively few people change energy supplier (Millions stuck on ‘rip-off’ energy tariffs, data reveals, 15 December) is that price comparison is made more difficult by the standing daily charge that the energy companies include in their bills. The government could help us all by making this illegal. Then there would be a single figure to compare: the charge for
  
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• Sky investors should think in the long term and reject Murdoch's deal

  15-12-2016 20:45
  
  Offering £10.75 a share might seem like a good deal now, but Sky’s future prospects still look rosy“If there is one issue I regard as crucial to successful investment, it is the need for a long-term approach.” So said Martin Gilbert a year ago in a blistering blogpost for Aberdeen Asset Management, the fund management firm where he is chief executive. Short-termism, he continued, is difficult to uproot because it is driven by greed, fear and the desire for instant gratifi
  
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• UK interest rates kept at record lows , Greek parliament approves pension deal -as it happened

  15-12-2016 19:33
  
  UK central bank has voted to maintain interest rates at 0.25%European commissioner Moscovici meets Greece’s TsiprasPound hit by Bank’s inflation commentsFull story: Bank of England leaves rates at 0.25%Latest: Bank decision releasedEarlier:Dollar surges on back of Fed rate hike
  UK bond yields hit highest since Brexit voteGreek MPs vote on controversial giveaways 6.33pm GMTThe vote in the Greek parliament saw some unlikely allies back the government’s Christmas bonus to pensione
  
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• Post Office strikes to go ahead after talks break down

  15-12-2016 19:30
  
  Post Office says next week’s strike will have minimal impact with less than 100 branches to close, though that claim is disputed by unionsPost Office workers will go ahead with five days of strikes next week after talks over jobs, pay and pensions broke down on Thursday. Related: Union calls on Post Office to join 'serious talks' to avoid strikeContinue reading...
  
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• Bank of England leaves UK interest rates at record lows , Greece votes on pensions - live

  15-12-2016 18:32
  
  UK central bank has voted to maintain interest rates at 0.25%European commissioner Moscovici meets Greece’s TsiprasPound hit by Bank’s inflation commentsFull story: Bank of England leaves rates at 0.25%Latest: Bank decision releasedEarlier:Dollar surges on back of Fed rate hike
  UK bond yields hit highest since Brexit voteGreek MPs vote on controversial giveaways 5.32pm GMTWith the Federal Reserve raising interest rates for the first time in a year and talking of three more increases
  
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• Millions of British Gas and SSE customers urged to switch NOW

  15-12-2016 17:22 via feedproxy.google.com
  
  THREE-QUARTERS of British Gas customers could save £174 by simply moving to a cheaper energy supplier, according to Ofgem.
  
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• The tech industry won't save us – or the planet – from Trump's excesses | Kate Aronoff

  15-12-2016 17:05
  
  As the likes of Elon Musk and Sheryl Sandberg flock to meet Trump, will they ditch their lofty commitments to climate change along the way? Related: Donald Trump's presidential transition is basically reality television | Richard Wolffe Swamp monsters are about to take over the White House, and the consequences for the environment are terrifying. Tech millionaires are known for making lofty promises on climate. Now that they’ve jumped into the bed with Trump, they’ll be quick to say
  
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• Michel Roux Jr admits restaurant staff get no share of service charge

  15-12-2016 16:58
  
  TV chef who apologised for not paying minimum wage says charge at Le Gavroche in London is treated ‘as revenue’ The TV chef Michel Roux Jr has admitted he keeps 100% of the service charge added to bills at his Michelin-starred Le Gavroche restaurant instead of distributing the cash to staff in addition to their wages.
  The former Masterchef judge, who this week apologised for paying chefs beneath the legal minimum wage following a Guardian investigation, has revealed he treats the 13%
  
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• Southern rail dispute talks end without agreement

  15-12-2016 16:57
  
  Failure of two sides to reach agreement at Acas means widespread disruption of services will continue on FridayTalks aimed at resolving the Southern rail dispute have ended without agreement, meaning widespread disruption of services will continue on Friday. Leaders of the train drivers’ union Aslef met the company for a second day under the chairmanship of the conciliation service Acas to try to break a deadlocked row over driver-only trains.Continue reading...
  
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• Bank of England leaves UK interest rates at record lows - business live

  15-12-2016 16:20
  
  UK central bank has voted to maintain interest rates at 0.25%Latest: Pound hit by Bank’s inflation commentsFull story: Bank of England leaves rates at 0.25%Latest: Bank decision releasedEarlier:Dollar surges on back of Fed rate hike
  UK bond yields hit highest since Brexit voteGreek MPs vote on controversial giveaways 3.20pm GMTTsakalotos has defended Athens’ plans to pay out one-off benefits for low-income pensioners ahead of Christmas. A day after eurozone lenders put short-term deb
  
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• World Bank raises record $75bn to help poorest members

  15-12-2016 15:57
  
  Fund will include money raised on world capital markets for first time, along with contributions from 47 countriesThe World Bank has pledged to step up the fight against extreme poverty after announcing that tough negotiations with rich countries have left it with a record $75bn for grants and soft loans to its poorest members over the next three years.Despite budgetary pressures caused by slow growth and austerity, the Washington-based institution said 47 countries had agreed to make donations
  
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• Punch Taverns agrees takeover bid from Heineken and partner

  15-12-2016 15:54
  
  Dutch brewer strikes deal to buy 1,900 of group’s pubs for £305m, with Patron Capital taking the remaining 1,300Heineken has given the UK economy a vote of confidence following the EU referendum by agreeing to buy almost 2,000 British pubs.The Dutch company and investment firm Patron Capital have won a £400m battle to take over Punch Taverns, which has more than 3,500 pubs across the UK. Continue reading...
  
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• How data maps are transforming the fight against malaria in Zambia

  15-12-2016 15:00
  
  Experts from Seattle, Silicon Valley, Atlanta and beyond are donating their time to develop technology that could help eliminate malaria by 2020
  Marianne Soko considers the data on her computer screen, trying to decide which thatched houses and breeze block shops to spray next with insecticide. Related: 11 ways public and private can work together to improve healthcareContinue reading...
  
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• Just Eat online takeaway service pays £200m for UK rival Hungry House

  15-12-2016 14:52
  
  Internet company embarks on £300m buying spree that will also see it acquire the Canadian service SkipTheDishesThe online takeaway food service Just Eat is to spend up to £300m on a buying spree, swallowing up its smaller rivals Hungry House and SkipTheDishes.Just Eat is paying £200m upfront to buy Hungry House, its biggest UK competitor, from the German group Delivery Hero. It has promised to hand over another £40m if the company hits performance targets. Continue readin
  
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• Six-year-old spends £734 on TV shows, plus the people who don't shop

  15-12-2016 14:28
  
  Also, how landlords’ buy-to-let profits could soon become losses, and a perfect pair of pumping stations
  Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
  
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• Council tax can rise by 3% a year to help fund social care – Javid

  15-12-2016 14:28
  
  Plans set out by communities secretary mean bill for average home will go up by £46 in 2017 but critics say it is too little, too lateCouncil tax will be allowed to rise faster than expected by about £46 a year for an average home to bail out struggling social care services for the elderly and vulnerable in England, Sajid Javid, the communities secretary, has said.Under the plans, councils will be able to raise an extra 3% from their local population this year and 3% next year to fun
  
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• UK interest rates are going nowhere in 2017

  15-12-2016 14:22
  
  Uncertainty about inflation and the impact of article 50 mean growth folllowing Brexit vote is unlikely to lastInterest rates are going up in the US, but in the UK they are going nowhere.That, bluntly, was the message from the Bank of England as it announced its latest decision on borrowing costs less than 24 hours after the US Federal Reserve not only tightened policy but signalled more to come in 2017. Continue reading...
  
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• Damage to the UK's financial sector would be New York's gain not the EU's - The Actuary

  15-12-2016 13:59
  The Actuary
  Damage to the UK's financial sector would be New York's gain not the EU's
  The Actuary
  Any pain caused to the UK's financial sector could result in businesses relocating to New York or other financial centres outside the EU, rather than the EU itself, according to a House of Lords Select Committee. 15 DEC 2016 | CHRIS SEEKINGS. Danger of ...
  
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• 21st Century Fox set to take over Sky in £11.7 billion deal

  15-12-2016 13:50 via feedproxy.google.com
  
  BROADCASTER Sky has agreed to a takeover bid from US media giant 21st Century Fox for £11.7 billion.
  
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• Rupert Murdoch confirms £11.7bn Sky bid

  15-12-2016 13:45
  
  Mogul needs regulators to approve deal, which will give him full control of pay-TV operations in UK, Germany and ItalyRupert Murdoch’s 21st Century Fox has formally lodged its £11.7bn bid to take full control of Sky, as minority shareholders call for transparency on how the pay-TV company’s independent directors came to accept the offer.Murdoch will now need to gain regulatory approval for the deal, which values Sky at more than £18bn, which will give him control of pay-T
  
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• Fortnum & Mason aims to cut basic pay for more staff in bid to reduce tax bill

  15-12-2016 13:29
  
  Queen’s grocer seeks to move Heathrow bar workers to ‘tronc’ system that gives them a share of tips The Queen’s grocer Fortnum & Mason is trying to persuade more of its staff to accept a big cut in basic pay in return for a share of tips in a move that will help reduce its tax bill.The retailer, which recently announced a 27% rise in pre-tax profit to £6.2m in the year to July, currently does not share any of the 12.5% service charge automatically added to bills
  
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• Yahoo hack: 1bn accounts compromised by biggest data breach in history

  15-12-2016 13:23
  
  The latest incident to emerge – which happened in 2013 – is probably distinct from the breach of 500m user accounts in 2014Yahoo said on Wednesday it had discovered another major cyber attack, saying data from more than 1bn user accounts was compromised in August 2013, making it the largest such breach in history.The number of affected accounts was double the number implicated in a 2014 breach that the internet company disclosed in September and blamed on hackers working on behalf of
  
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• When will interest rates rise in the UK? Latest predictions and forecasts

  15-12-2016 13:17 via feedproxy.google.com
  
  THE BANK of England has kept interest rates on hold at their record low today. But when could we finally see a rate rise?
  
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• Bank of England leaves UK interest rates on hold at 0.25%

  15-12-2016 13:09
  
  Monetary policy committee votes to keep rates unchanged, but warns of likely slowdown in growth next year The Bank of England has left interest rates at their record low of 0.25% but repeated a warning that higher inflation and slower wage growth risk squeezing household budgets and spending next year.The Bank’s nine-strong monetary policy committee voted unanimously to keep rates on hold and maintain the current programme of electronic money printing known as quantitative easing. Policyma
  
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• Housing sales to fall in 2017, says CML

  15-12-2016 12:55
  
  Council of Mortgage Lenders revises forecast downwards to 1.17m transactions, as tax changes and Brexit uncertainty bite
  Fewer people are expected to buy homes in 2017, as tax changes and economic uncertainty resulting from the Brexit decision deter owner-occupiers and landlords.The Council of Mortgage Lenders (CML) said it expected the number of transactions to fall to 1.17m, the lowest level since 2013. The figure is below the 1.26m it forecast a year ago, which the CML said was “partly
  
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• Philip Hammond: Japanese banks are concerned about Brexit

  15-12-2016 12:46
  
  Chancellor, on visit to Japan, says he is trying to reassure sector that UK will seek maximum access to European marketsJapan’s financial sector has “concerns” about Britain’s exit from the European Union, Philip Hammond said on Thursday after he sought to reassure the country’s banks that London was striving to guarantee them “maximum possible access” to EU markets post-Brexit.
  The chancellor, who is in Japan to meet government officials and business le
  
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• Bank of England HOLDS interest rates - but experts warn of 2017 hike

  15-12-2016 12:43 via feedproxy.google.com
  
  INTEREST rates were today held at 0.25 per cent for December, as Britain's economic strength defies doom-monger predictions following the Brexit vote.
  
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• Retail sales rise thanks to Black Friday boost in November

  15-12-2016 12:33
  
  Department stores and electrical shops benefit, but ONS says fuel sales were lowest for two yearsBumper sales on Black Friday and Cyber Monday helped the retail sector to maintain strong growth in November and bolstered hopes of a busy Christmas on the high street.Department stores and electrical goods sellers were the biggest beneficiaries as consumers sought out deals on the latest TVs and phones. Continue reading...
  
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• EURO PLUNGE: Single currency dives amid US rate hike and fears over eurozone

  15-12-2016 12:17 via feedproxy.google.com
  
  THE EURO has hit its lowest level against the dollar since March 2015, as trust in the 'dysfunctional' eurozone tumbles.
  
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• EURO PLUNGE: Single currency dives amid fears of Italian economic EXPLOSION

  15-12-2016 12:17 via feedproxy.google.com
  
  THE EURO has hit its lowest level against the dollar since March 2015, as trust in the 'dysfunctional' eurozone tumbles.
  
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• EU politicians believe trade deal could take decade, No 10 is warned

  15-12-2016 12:01
  
  UK’s ambassador to EU is reported to have told PM of view that deal will not be finalised until early to mid-2020sEurope’s politicians believe a trade deal with the UK could take up to a decade or more and could still fail in the final stages, Downing Street has been warned by the UK’s ambassador to the EU.Sir Ivan Rogers, who conducted David Cameron’s renegotiation with the EU before the referendum, is reported to have told Theresa May that European politicians expect th
  
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• Pink Panther wafer maker Rivington hit by Brexit crunch

  15-12-2016 11:24
  
  About 100 jobs lost as Wigan-based biscuit firm goes into administrationThe loss-making company behind Pink Panther wafers has gone into administration, with the loss of about 100 jobs, after taking a hit from the fall in sterling since the Brexit vote.Rivington Biscuits, which is based in Wigan, Lancashire, was already in the red but its financial position worsened after the June referendum, as the sharp fall in sterling pushed up the cost of ingredients used to make its biscuits. As a small fi
  
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• City News: Boohoo, Dixons Carphone and Lavendon Group

  15-12-2016 11:20 via feedproxy.google.com
  
  SHARES in online retailer Boohoo.com hit a 133¼p high, up 15p, as it went shopping for a controlling stake in fellow web-based fashion brand PrettyLittleThing.
  
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• Heineken joins £400million fight for Punch Taverns group

  15-12-2016 10:55 via feedproxy.google.com
  
  A £400MILLION battle is brewing for one of Britain’s biggest pub companies. Shares in the 3,300-strong Punch Taverns group soared 48½p to 177p after it confirmed it had received two approaches pitching one of its founders, Alan McIntosh, against Dutch giant Heineken.
  
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• FTSE slips as dollar strength hits miners but Just Eat jumps after deals

  15-12-2016 10:41
  
  Online takeaway group buys UK rival Hungry House and Canada’s SkipTheDishesLeading UK shares have slipped back after the Federal Reserve raised US interest rates and talked of three rises next year.The news has pushed the dollar higher, and in turn hit commodity prices and dragged the mining heavy FTSE 100 18.15 points lower to 6931.04. European markets, less dominated by commodities, are managing to cling on to their slight gains. Continue reading...
  
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• British Gas owner Centrica says it will beat targets after cost cuts

  15-12-2016 10:25
  
  Improved forecast comes a day after it emerged that three-quarters of its customers are on expensive variable tariffsBritish Gas owner Centrica has upgraded its profit outlook after cost cuts and strong trading, a day after it emerged that three-quarters of its customers are on expensive variable tariffs.Despite volatile energy markets, Centrica now expects adjusted earnings per share of 16.5p this year and adjusted operating cashflow of £2.4bn to £2.6bn, up from a previous estimate
  
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• JD Sports to investigate conditions at warehouse after 'prison' claim

  15-12-2016 10:01
  
  Retailer denies allegations made in Channel 4 documentary about Kingsway distribution centre near RochdaleJD Sports is to launch an investigation into conditions at its Kingsway warehouse near Rochdale after a Channel 4 documentary found workers claiming it was “worse than a prison”.The retailer denied the claims, saying in a stock exchange statement it was “deeply disappointed and concerned by the footage broadcast by Channel 4”. Continue reading...
  
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• Southern rail users face another day of chaos as Acas talks resume

  15-12-2016 09:33
  
  Although there is a 24-hour pause in industrial action, Southern warns there will still be delays and cancellationsCommuters on the Southern rail network and Gatwick Express face another day of disruption, as talks between the train operator and drivers’ union Aslef continue.The strike action that shut down the entire network for two days is in a brief hiatus, having ended on Wednesday and resuming on Friday. But the franchise’s operator, Govia Thameslink Railway (GTR), warned that t
  
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• Southern rail operator says strikes will hit its costs

  15-12-2016 09:18
  
  Industrial action likely to have cost Go-Ahead millions, as operator prepares for further 48-hour walkout next weekSouthern rail operator Go-Ahead laid bare the financial cost of crippling strike action as it issued a warning over its full-year results for the train business.The transport giant, which runs the Southern service through its Govia Thameslink Railway arm, said it would take a hit from the bitter industrial dispute as it faces surging costs and added that half-year passenger revenues
  
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• EasyJet vows to recruit more female pilots

  15-12-2016 08:50
  
  Airline sets target of 20% of annual intake to be female after receiving more applications from womenEasyJet has pledged to increase the number of female pilots, setting a new target after receiving an increasing number of applications from women.The airline said it wanted 20% of new cadets by 2020 to be female, which it described as a “stretching” target. Continue reading...
  
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• Why retailers stop selling online: the hidden cost of e-commerce

  15-12-2016 08:15
  
  Free delivery and returns are unsustainable for many entrepreneurs, who are turning away from offering online shoppingAs the fastest growing retail market in Europe and North America, e-commerce is seen by many as essential for business success. At Christmas in particular, 73% of UK consumers will buy gifts online – that amounted to £24.4bn in 2015. For many small businesses, e-commerce has allowed them to explore new markets and enabled significant growth. But for some, online tradi
  
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• My wife wants to protect our children's inheritance if I remarry after her death

  15-12-2016 08:00
  
  She is concerned that if she pre-deceases me and I remarry, our children may not inherit our house
  Q I have a genuine problem which is causing a problem in my marriage. I married my wife over 20 years ago. When we met, she already had three children by a previous marriage, and we had one more together.I have always treated them all the same, and my current will leaves everything to my wife, or in the event of her death, a straight four-way split between the kids. I have no intention, or plan, to
  
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• My six-year-old bought £734 of BT TV programmes ... by remote control

  15-12-2016 08:00
  
  He is severely autistic but BT refuses to waive the chargesI have a severely autistic six-year-old who got hold of the TV remote and bought £734 of kids’ programmes on my BT account. BT refuses to waive the charges, although I have never purchased any programme during my five years as a customer. It has given me two weeks to pay but, as a single parent, I can’t afford this. HT, Mirfield, W YorksYou say your child managed to order 40 programmes in 10 minutes, so it’s disap
  
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• James Packer retreats from China with sell-off of Crown's overseas casinos

  15-12-2016 06:58
  
  Strategy shift will see Packer scale back international ambitions and become almost entirely focused on Australian business The casino magnate James Packer has scaled back the international ambitions of his gambling empire in a dramatic strategy shift that will see him concentrate on his Australian business.Crown Resorts, which is controlled by Packer, announced on Thursday that it has dumped plans to spin off his international assets and has halved his stake in the venture’s troublesome C
  
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• House Of Lords Sees Danger Of 'Lose-Lose' For U.K. Financial Services In Brexit - Forbes

  15-12-2016 01:02
  
  Forbes
  House Of Lords Sees Danger Of 'Lose-Lose' For U.K. Financial Services In Brexit
  Forbes
  The U.K. Government has a lot of work to do on achieving the reality of Brexit – the decision that the U.K. must leave the European Union (EU) resulting from the June referendum vote. It must first, early in the negotiation process, agree a ...
  UK's Hammond wants to address Japan financial sector's Brexit concernsJapan Today
  UK financial firms could up sticks over Brexit, warn peersBelfast Telegr
  
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