Financial news

• Asda forced to repay suppliers after breaching fair dealing code

  05-09-2017 20:45 via theguardian.com
  Grocer breached ‘overarching principle of fair dealing’, says industry regulator – but report stops short of calling for inquiryAsda has been forced to pay back hundreds of thousands of pounds to dozens of suppliers after breaching an industry code governing fair dealing.The company, named as the worst supermarket in its treatment of suppliers earlier this year, was found to have demanded up front payments worth up to a quarter of the value of annual sales of particular product
  
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• UK’s economic model is broken, says Archbishop of Canterbury

  05-09-2017 20:26 via theguardian.com
  Report backed by business leaders says gains from growth are going largely into profits for corporations rather than wagesBritain’s economic model is broken and produces widespread inequality, the Archbishop of Canterbury has warned in a report backed by business leaders.Justin Welby said the UK needed to make fundamental choices about the direction of its economy, in a study that found the gains from growth are being diverted into profits rather than wages.Continue reading...
  
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• UK service sector growth slows as car sales fall dramatically

  05-09-2017 19:25 via theguardian.com
  Analysts voice concerns that UK economy is being held back, blaming Brexit uncertainty and weak poundBusiness leaders have blamed the uncertainty created by Britain’s vote to leave the European Union for the slowest pace of output growth in the services sector for almost a year.Financial data provider Markit said Brexit uncertainty and higher import costs arising from the slump in the pound were behind the stumbling performance of the UK’s largest business sector last month. Continue
  
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• Munkkiniemi tower – in pictures

  05-09-2017 11:30 via theguardian.com
  A Gothic residence fit for HIM or her Continue reading...
  
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• Lego to axe 1,400 jobs

  05-09-2017 09:59 via theguardian.com
  Danish toy company announces extensive staff cuts after the first fall in global sales for more than a decadeLego is to cut 1,400 jobs before the end of the year in a bid to scale back the 85-year-old business after suffering its first drop in sales in more than a decade.The Danish toymaker said it was hit by weaker demand in established markets such as the US and parts of Europe and admitted that the organisation had become too complex over the past five years to support global growth. Continue
  
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• Progressives take note: Brexit means Brexit, so let’s create a vision for it | Ivan Lewis

  05-09-2017 09:00 via theguardian.com
  Remainers must move beyond our grief at the referendum result and unite and rebuild our countryI will never forget walking around Manchester town hall in a daze in the early hours of 24 June as it became clear that we were about to witness the seismic shock of the beginning of the end of our membership of the EU. As I left bewildered and numb, I couldn’t help but reflect that while we thought we had everything to lose by leaving, too many of our fellow citizens felt they had nothing to los
  
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• Should vegans eat palm oil?

  05-09-2017 08:00 via theguardian.com
  The ubiquitous vegetable oil is plant-based so fits with a vegan diet, but its production can harm rainforests and biodiversityAs marketing slogans go, NotFrom.com offers something aspirational. Stacked on the virtual shelves of this new online vegan supermarket are row upon row of “animal and planet cruelty free” products.Only it’s not quite that simple. Yes, all of the products are plant-based and free from animal inputs. But, beyond this the line between what is and isn&rsqu
  
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• Forget about work and keep a dream diary: how to think creatively

  05-09-2017 08:00 via theguardian.com
  Ditch the brainstorming sessions and make time for knitting, cycling or just plain idling if you want to be more creative Most of us know that creativity is not just for artists – it has always been key to entrepreneurial success. Pushing heretical ideas, having a unique vision, thinking imaginatively and counterintuitively are the very definitions of creativity in business. In a world where a single original idea, like Uber or the Ice Bucket Challenge, can change the world, creative think
  
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• After BA’s IT meltdown our claim has finally taken off

  05-09-2017 08:00 via theguardian.com
  We were still £800 out of pocket but thanks to CEDR we’ve had most backBA’s well-publicised IT meltdown over the May half term meant we had to abandon our family holiday to Sweden. The airline refunded our flight costs and paid the €750 EU-mandated compensation, but we were still £800 out of pocket. You were kind enough to publish my letter about this – BA told you (as it had us) that it was not liable for our consequential loss. Other readers in a similar posi
  
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• Bell Pottinger: key players and controversial clients

  05-09-2017 07:25 via theguardian.com
  From Asma al-Assad to FW de Klerk and Oscar Pistorius, the PR firm has taken on accounts other firms might have balked atLord Bell, Margaret Thatcher’s favourite PR man when she was prime minister, co-founded Bell Pottinger in 1987. Continue reading...
  
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• The Brexit bill is cataclysmic. Only a swerve will save us | Polly Toynbee

  05-09-2017 07:00 via theguardian.com
  The government’s approach to the negotiations is dangerous as well as frivolous. Labour’s MPs are the grown-ups nowToday parliament returns, led by the most dangerously incompetent and decadent government in modern times. This parliament will seal the country’s fate permanently and, on current form, fatally: nothing in the conduct of Brexit suggests any understanding of the cataclysm ahead. Instead the summer has seen only callow jockeying for position between would-be Tory lea
  
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