Shadow international trade secretary says Sir John Rose ‘is not fit to hold his knighthood’ if he was aware of the actions during his reignLabour called for the former chief executive of Rolls-Royce to lose his knighthood, after the company admitted “extensive systemic bribery and corruption” during the period in which he ran the manufacturer of jet engines.
Sir John Rose held the job between 1996 and 2011 at the Derby-based corporation, which was forced on Tuesday to adm
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-
Calls for ex-Rolls-Royce CEO to lose knighthood after firm admits bribery
-
He's had three strikes. Surely Pearson's chief executive is out?
Two mistakes from the US educational publisher would be understandable. Their confidence three months ago? Less soForecasting is difficult, especially about the future, as the old line goes – but is it quite as hard as John Fallon, chief executive of Pearson, makes it seem?Two errors in 2016 were understandable, or at least not unique. Most big US educational publishers were too optimistic about the numbers of students enrolling in US colleges and the number of students who would opt to re -
A race to the bottom on corporate taxation | Letters
There will not be great anxiety in the EU if Theresa May suggests the UK uses tax to “regain competitiveness” in the context of Brexit (Tax haven threat starts week of talking tough, 16 January). The UK is already a tax haven, and oversees large quantities of tax dodging. Of the 15 worst tax havens identified by Oxfam’s recent report, Britain is responsible for four, including the top two of Bermuda and the Caymans.We also need to know if what the chancellor said to Welt am Son -
Davos 2017: Joe Biden criticises Russia; Al Gore on climate change - as it happened
Rolling coverage of the second day of the World Economic Forum in DavosUS vice-president Joe Biden: 1% not pulling their weightBiden defends Nato, hits out at PutinGerman minister: Europe must spend more on defenceLagarde: middle classes in crisisLondon Mayor in Davos to fight hard Brexit6.47pm GMTThe official Davos sessions are now over for the day, although there are plenty of working dinners taking place (most off the record, alas). 6.35pm GMTIt wouldn’t be Davos without a dose of euroz -
'The swamp is Goldman Sachs': how the bank is rewarded for putting profits over people
The US government has continually mined the bank for some of its top posts despite its role in the 2008 financial crisis – and protests are popping up across the country again in response to Donald Trump’s cabinet picksIn a persistent drizzle on 17 January, a group of protesters swathed in green ponchos unfurled tarps and sleeping bags on the sidewalk in front of Goldman Sachs’ high-rise building on the West Side highway in New York City. A few of them wore handmade swamp creat -
Theresa May to meet with Wall Street bankers in Davos and outline hard Brexit vision
THERESA May is to meet bosses from some of Wall Street's biggest firms after banks threatened to move jobs out of the UK amid a so-called hard Brexit. -
It's not aid in reverse, illicit financial flows are more complicated than that
It’s meaningless to bundle up countries like China and Saudi Arabia with poorer economies such as Bangladesh and EthiopiaA comment piece published earlier this week calculated that for every $1 of aid that developing countries receive, they lose $24 in net outflows. The piece by Jason Hickel, which draws on a report by Global Financial Integrity (GFI), concludes that “poor countries don’t need charity. They need justice.” Rich countries, he argues, should act to stop the -
Pound to dollar: Sterling dips after Brexit bounce ahead of Donald Trump inauguration
THE pound has dipped against the dollar and the euro after a bumper day of gains sparked by Theresa May's Brexit speech, as traders await Donald Trump's inauguration. -
Mr Kipling maker's shares in exceedingly sharp fall as profits sliced
Premier Foods, which also owns Ambrosia and Oxo, blames post-Brexit-vote slide in pound and rising commodity prices Shares in Premier Foods, the maker of Mr Kipling cakes, Ambrosia rice pudding and Oxo stock cubes, have fallen sharply after it warned profits would be hit by rising costs linked to the fall in the pound since the Brexit vote. After a tough quarter in the run-up to Christmas, Premier said annual trading profits would be 10% lower than previously expected. City analysts had pencille -
JP Morgan Chase to pay $55m to settle racial discrimination charges
Bank allegedly charged black and Hispanic mortgage customers moreJP Morgan denied wrongdoing, saying prices were set by independent brokers Related: JP Morgan Chase to pay $264m over Chinese 'princelings' bribery scheme JP Morgan Chase agreed to pay $55m to settle charges that the bank discriminated against “thousands” of minorities seeking home loans by charging them higher rates and fees. Continue reading... -
Don’t be fooled – Theresa May’s Brexit plan won’t appease the markets for long | David Blanchflower
The announcement that parliament will get a vote on a final deal was welcome. But the prime minister’s speech does nothing to lift the fog of uncertaintyThe big fear with Theresa May’s Brexit speech was that the pound would tank and that the markets would respond as negatively as they had to most of her previous utterances. The opposite happened, and it rose to $1.24, up almost 3% on the day, after it had already risen on Tuesday morning on news that inflation had reached a two-year -
Theresa May's Brexit speech leaves small firms in the dark
No access to EU’s single market and replacement deals potentially decades away heightens uncertainty for UK businessesTheresa May’s speech on Tuesday was the government’s first informative announcement on what the UK will look like after Brexit.
A customs union with the EU has been ruled out so the UK can negotiate trade deals with countries outside the EU. This hard Brexit would mean that, after we leave, the UK will trade with the EU and the rest of the world under World Trad -
Grandparents miss out on tax credits that could boost state pension
via theguardian.com
Little-known scheme could put thousands of pounds back into pensions of grandparents who take time off work to look after grandchildren under 12
As many as 100,000 grandparents are missing out on national insurance credits that could boost their state pension by thousands of pounds over the course of their retirement, a former minister has claimed.The former Liberal Democrat MP Steve Webb, now director of policy at mutual insurer Royal London, said a freedom of information request to HM Revenue -
Will the Pearson chief be brought to book over profits warnings? | Nils Pratley
John Fallon has presided over a string of mishaps at the educational giant and a plunge in the share priceForecasting is difficult, especially about the future, as the old line goes – but is it quite as hard as John Fallon, chief executive of Pearson, makes it seem?Two errors in 2016 were understandable, or at least not unique. Most big US educational publishers were too optimistic about the numbers of students enrolling in US colleges and the pace at which all students would opt to rent, -
Royal Albert Hall called a 'national disgrace' over members' ticket resales
via theguardian.com
Pamphlet distributed to members who own 1,276 permanent seats offers advice on maximising resale profits on ticketing sitesRoyal Albert Hall members have exchanged detailed advice on how to sell their seats on ticket touting sites, prompting the venue’s former president to label its stewardship a “national disgrace”. The members, about 330 individuals who own 1,276 permanent seats in the 5,272 capacity venue, were sent a document offering tips on how to use online resale sites. -
Link cash machines may start charging because of row about network fees
via theguardian.com
Some financial firms using network want to reduce fees they pay to allow charge-free withdrawals from most of 70,000 ATMsThousands of Link cash machines could start charging for withdrawals as a result of a row about fees among members of the ATM network.The dispute centres on a move by some of the financial firms which use the Link network to reduce the fees they pay to allow their customers to withdraw cash from most of Link’s 70,000 cash machines across the UK. Continue reading... -
Pearson profit warnings wipe almost £2bn off its value
Education giant plans sale of stake in Penguin Random House to Bertelsmann as it cuts payout to shareholdersAlmost £2bn was wiped from the stock market value of Pearson after the beleaguered FTSE 100 company issued profit warnings for the next two years and said it would cut its payout to shareholders.The group is also putting up for sale its 47% stake in publisher Penguin Random House.Continue reading... -
Burberry sales leap 40% as weak pound draws overseas shoppers
Shoppers travel from all regions of the world to stock up on luxury goods as sterling’s fall makes money go furtherThe Brexit vote and the slump in sterling that followed the referendum has delivered a big boost to sales at luxury label Burberry – powered by overseas shoppers who have flocked to the UK to stock up on branded goods.The classic British label, famous for its beige check design, said sales in the UK surged by 40% in the final three months of 2016, boosted by strong deman -
Middle classes in crisis, IMF's Christine Lagarde tells Davos 2017
IMF head wins support from outgoing US vice-president Joe Biden as she uses American term for working people in demanding action over rising inequalityThe head of the International Monetary Fund, Christine Lagarde, has called for urgent action to tackle a “middle-class crisis” hitting working people as she warned that inequality, distrust and a lack of hope were fuelling growing populism.Speaking at the World Economic Forum in Davos, Lagarde said she had first highlighted the dangers -
Is this Hackney nursery the future for London’s childcare industry?
New Economics Foundation prepares to pilot co-produced nurseries in effort to tackle London’s ‘failing’ childcare modelIn one corner of the large, light room a two-year-old carefully dollops red paint on to an egg box. Elsewhere kids play together, or chat to one of the several adults present, and occasionally a young girl in a long yellow dress sweeps past.This is Grasshoppers in the Park, an east London nursery where professional staff and parents work together to create chil -
UK labour market shows signs of slowing
Fewer people are in work and wage growth has slowed, latest figures showBritain’s labour market showed signs of slowing in November as the number of people in work declined and wage growth slowed for the first time since August.The number of people in employment fell by 9,000 to 31.8 million while month-on-month wage growth, including bonuses, dropped from 2.9% to 2.8%. Continue reading... -
Southern rail to run full train service from Tuesday
Company announces restoration of normal timetable after Aslef calls off three strikes next week and overtime ban is liftedSouthern will restore a full train service from next Tuesday after industrial action by drivers was suspended. The company said it would not be possible to reintroduce a full timetable before then because work rosters were issued before Aslef called off three strikes next week and lifted an overtime ban.Continue reading... -
Globalisation has made the world a better place | Jim O'Neill
Trade has led to higher living standards in Asia and elsewhere. Are globalisation’s critics against eradicating global poverty?I was recently in beautiful Chile for a Futures Congress, and I had a chance to travel south to the very tip of Latin America. I also recently made a BBC radio documentary called Fixing Globalisation, in which I criss-crossed the UK in search of ideas for improving certain aspects of it and discussed topical issues with well-known experts. In both cases, I saw thin -
Brexit boom: Wages UP and unemployment FALLS proving doom-mongers wrong AGAIN
WAGES were rising in the months after the Brexit vote while unemployment fell, as Britain's strong economy continued to prove doom-monger Remain warnings wrong, official data revealed today. -
Ask the experts: how to build your business reputation – live chat
Join us on this page from 1-2pm on Wednesday 25 January to quiz our expert panel about growing a positive profile for your business 11.13am GMTSubmit a question
You can post questions in the comments section below during the chat. Or you can send questions in advance, or during the discussion, by emailing [email protected] or by tweeting us at @GdnSmallBiz with your question. 11.13am GMTHow to join in the discussion
Make sure you’re a registered user of the Guardian (if -
EE fined £2.7m for overcharging customers
UK’s biggest mobile phone company has been unable to identify all the users who were billed inaccuratelyMobile phone company EE has been fined £2.7m by Ofcom for overcharging tens of thousands of customers.
EE is owned by telecoms giant BT, which acquired the mobile operator last year in a £12.5bn deal.Continue reading... -
Public sector pay poised to fall by thousands in real terms, TUC says
Midwives and teachers will see real pay drop by more than £3,000 by 2020 if 1% limit on rises is enforced, says union bodyNurses, teachers and firefighters’ pay will drop by thousands of pounds in real terms by the end of the decade unless the government softens its stance on public sector salaries, the TUC has said in a new analysis.The trades union organisation calculated that midwives, teachers and social workers will see their real pay, which accounts for the impact of inflation, -
Homes in which to sit out the perils of 2017 – in pictures
via theguardian.com
Why not hunker in a bunker as the world winds to an end Continue reading... -
EasyJet should take on board our complaints about communications
via theguardian.com
The departure signs were not updated and the flight was called after the gate was closedMy husband was supposed to join me at a friend’s wedding in France on an easyJet flight to Toulouse. He never made it because the departure boards at Gatwick airport were not updated to show the flight was delayed. The new departure time was not posted and the flight was not called until after the gate had closed.Continue reading... -
Libor scandal: the bankers who fixed the world’s most important number | Liam Vaughan and Gavin Finch
With arrogant disregard for the rules, traders colluded for years to rig Libor, the banks’ lending rate. But after the crash, the regulators wereon their trailAt the Tokyo headquarters of the Swiss bank UBS, in the middle of a deserted trading floor, Tom Hayes sat rapt before a bank of eight computer screens. Collar askew, pale features pinched, blond hair mussed from a habit of pulling at it when he was deep in thought, the British trader was even more dishevelled than usual. It was 15 Se -
Xi Jinping signals China will champion free trade if Trump builds barriers
Chinese president defends globalisation at WEF in Davos, saying there will be no winners in a trade warChina’s president, Xi Jinping, has delivered a strong defence of globalisation, serving notice to Donald Trump that Beijing will seek to usurp America’s traditional role as the champion of free trade and open markets.Xi used an hour-long address to the World Economic Forum (WEF) to take a number of sideswipes at the US president-elect, attacking Trump’s protectionist views wit -
Thomas Cook to fly almost 1,000 Britons out of the Gambia
The travel agent is cancelling all flights to Gambia until 20 January, thanks to ‘potential military intervention’Are you being affected by the political situation in Gambia?Thomas Cook is to fly almost 1,000 UK customers out of the Gambia, following a change in Foreign Office advice due to unrest in the country.The west African nation has become a political battleground following presidential elections last month, with incumbent leader Yahya Jammeh unwilling to hand over power to th
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