Financial news

• Key Murdoch ally sells stake in 21st Century Fox

  08-11-2017 23:29 via theguardian.com
  Sale by Saudi prince Alwaleed bin Talal leaves company vulnerable to shareholder rebellionsA key ally of Rupert Murdoch has sold his stake in 21st Century Fox, leaving the company more vulnerable to a rebellion by shareholders unhappy at the dominance of the Murdoch family. Prince Alwaleed bin Talal, who controls the investment firm Kingdom Holding and is one of the world’s richest men, at one stage owned more than 6% of Fox and has consistently backed the Murdochs in shareholder votes abo
  
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• M&S tries to reinvent itself – but things are always happening to it | Nils Pratley

  08-11-2017 20:59 via theguardian.com
  Like Paddington Bear, Marks & Spencer’s good intentions are often frustrated by events – in its case, tough trading conditionsPaddington Bear, the star of Marks & Spencer’s Christmas ad, always kept a marmalade sandwich in his hat in case of emergency. M&S itself just reaches for another restructuring.The latest rejig is not the full sandwich, it should be said. Chief executive Steve Rowe is merely accelerating the store closure programme and making the expansion of
  
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• US hedge fund to take over indebted care home provider Four Seasons

  08-11-2017 20:55 via theguardian.com
  Four Seasons, which is responsible for 17,000 people, has buckled under state funding cuts and shortage of EU nursesStruggling care home provider Four Seasons, which is responsible for 17,000 elderly and vulnerable people, is set to be taken over by a US hedge fund in a complex rescue deal being closely monitored by regulators.Four Seasons has buckled under the pressure of state funding cuts, a shortage of EU nurses since the Brexit vote, higher costs after the introduction of the national livin
  
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• Narcissi bobbing in the slipstream of traffic | Brief letters

  08-11-2017 19:33
  Decline in seasons | Closure of Seer Green post office | Boris Johnson journalism fund | Government by dirty old menI’ve not seen any wasps either, now that you mention it (Letters, 4 November). What I have seen are the first daffodils of the spring – in November, when autumn hasn’t properly happened yet. Oaks and ashes are still holding their green leaves. I expect winter-flowering cherry, winter camellias, winter iris and daffs “January” and “February Gold&r
  
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• Paradise Papers: Oxford and Cambridge invested tens of millions offshore

  08-11-2017 19:00 via theguardian.com
  Funds invested in by the universities include a joint venture to develop oil exploration and deep-sea drilling The universities of Oxford and Cambridge, and nearly half of all Oxbridge colleges, have secretly invested tens of millions of pounds in offshore funds, including in a joint venture to develop oil exploration and deep-sea drilling, leaked documents from the Paradise Papers reveal.The files show that both universities have committed significant funds to multibillion-dollar private equity
  
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• Shortage of factory workers starts to push up pay rates

  08-11-2017 18:32 via theguardian.com
  Bank of England and businesses say firms raising wage offers to find staff, as level of unemployment drops and Brexit vote cuts number of EU workers in UKA shortage of factory workers is starting to push up pay rates but wage rises in the services sector remain rooted at around 2%, according to the latest feedback from the Bank of England’s regional agents.The central bank said its agents, which are based in offices across the country, found that shortages this month across the manufacturi
  
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• Europe's carmakers face 30% emission cuts target

  08-11-2017 18:32 via theguardian.com
  New proposals to limit CO2 from passenger cars and vans by 2030 would meet climate goals, but campaigners say regulations fall short The European commission has unveiled new proposals for limits on carbon dioxide emissions from passenger cars and vans, which would compel manufacturers to cut emissions from their vehicles by nearly a third from 2030.But the proposals will not require manufacturers to make a fixed quota of their fleet run on electricity, as some campaigners had hoped. Continue rea
  
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• No deal Brexit fears overblown, says JD Wetherspoon boss

  08-11-2017 18:11 via theguardian.com
  Tim Martin takes a swipe at Sainsbury’s and Whitbread claiming British firms are not facing a ‘cliff edge’ and his pub chain is ready to leave the EU nowJD Wetherspoon is ready to leave the EU without a transition deal and the idea that firms are facing a dangerous “cliff edge” is overblown and untrue, according to the pub chain’s chairman.Tim Martin said warnings from companies such as Sainsbury’s and Whitbread about the risks of a “no deal”
  
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• Landlord’s ban on ‘coloured’ tenants is unlawful, court rules

  08-11-2017 17:28 via theguardian.com
  Equality watchdog wins case against Fergus Wilson, who barred south Asians from renting his properties
  The buy-to-let mogul Fergus Wilson’s ban on “coloured” tenants because they allegedly left curry smells in his properties has been overturned in a court victory for the Equality and Human Rights Commission.At Maidstone county court, the judge, Richard Polden, granted an injunction against the landlord. “This policy clearly amounts to discrimination,” Polden said. &
  
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• Rolls-Royce trio plead guilty to corruption charges in US

  08-11-2017 15:58 via theguardian.com
  Three former employees admit to bribing foreign government officials to secure overseas contracts between 1999 and 2013Three former employees of the British engineering firm Rolls-Royce have pleaded guilty in America to bribery and corruption offences, the Serious Fraud Office and US Justice Department have said.James Finley, Keith Barnett and Louis Zuurhout, who worked in the company’s energy division, entered the plea following parallel investigations by US and UK authorities into whethe
  
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• Uber signs contract with Nasa to develop flying taxi software

  08-11-2017 14:14 via theguardian.com
  Ambitious plans for electric drone-like flying cabs take step forward as Uber announces plans to test flights in LA in 2020Uber has taken a step forward in its plan to make autonomous “flying taxis” a reality, signing a contract with Nasa to develop the software to manage them.
  The company’s chief product officer, Jeff Holden, announced the new service contract at Web Summit in Lisbon, alongside its intention to begin testing four-passenger, 200mph UberAir flying taxi services
  
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• UK''s Financial Conduct Authority Launches Wholesale Insurance Brokers ... - Proshare Nigeria Limited (press release)

  08-11-2017 12:37
  Proshare Nigeria Limited (press release)
  UK''s Financial Conduct Authority Launches Wholesale Insurance Brokers ...
  Proshare Nigeria Limited (press release)
  The Financial Conduct Authority (FCA) has today launched a market study to assess how competition is working in the wholesale insurance broker sector. The FCA wants to ensure that the sector is working well, and fosters innovation and competition in ...en meer »
  
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• Priti Patel's future as UK minister hangs in balance - Financial Express

  08-11-2017 11:53
  Financial Express
  Priti Patel's future as UK minister hangs in balance
  Financial Express
  Britain's senior-most Indian-origin minister, Priti Patel, is facing a very serious prospect of losing her Cabinet post after it emerged that she had two further meetings with Israeli officials that were not disclosed through the proper procedure. By ...
  Despite reports to the contrary, British PM confirms: No financial support for the ...JerusalemOnlinealle 326 nieuwsartikelen »
  
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• Charles arrives in India amid revelations about his financial affairs - AOL UK

  08-11-2017 11:33
  AOL UK
  Charles arrives in India amid revelations about his financial affairs
  AOL UK
  The Prince of Wales and Duchess of Cornwall have arrived in a smog bound New Delhi amid revelations of Charles' financial affairs back home. Charles is due to hold talks with India's prime minister Narendra Modi but the meeting is likely to be ...
  Charles 'should register financial interests to prevent secrecy'Belfast Telegraphalle 62 nieuwsartikelen »
  
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• 'No coloureds' landlord taken to court by UK equality watchdog

  08-11-2017 10:27
  Buy-to-let mogul Fergus Wilson told agent to ban ‘coloured’ tenants because they left curry smells in his properties The UK equality watchdog is seeking an injuction against buy-to-let mogul Fergus Wilson after he told his letting agent to ban “coloured” tenants because they left curry smells in his properties.It emerged in March that Wilson, who at one time owned almost 1,000 homes across Ashford and Maidstone in Kent, emailed a local letting agency, Evolution, saying: &
  
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• New M&S chair promises new radical shake-up to fix ‘drifting’ business

  08-11-2017 09:08 via theguardian.com
  Archie Norman’s comments come amid plans to extend cost-cutting drive, as inflation hits profit margins and online competition intensifiesThe new chairman of Marks & Spencer has accused the struggling store chain of “drifting” for more than 15 years and pledged to lead a radical shake-up of the business.“This business has been drifting, underfulfilling its customer promise not for five years, not 10 years but 15 years and maybe beyond,” said the M&S chairman
  
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• UK's Financial Conduct Authority Launches Wholesale Insurance Brokers ... - Exchange News Direct

  08-11-2017 08:56
  UK's Financial Conduct Authority Launches Wholesale Insurance Brokers ...
  Exchange News Direct
  The Financial Conduct Authority (FCA) has today launched a market study to assess how competition is working in the wholesale insurance broker sector. The FCA wants to ensure that the sector is working well, and fosters innovation and competition in ...en meer »
  
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• Low-income families will be biggest losers in next recession, says IFS

  08-11-2017 08:32
  Watchdog warns plans for reduction in tax credits will take heavy toll on households facing cuts in hours or lower wagesWorking families on low incomes will be among the biggest losers when the next recession hits, after their finances were weakened by welfare spending cuts in the wake of the 2008 financial crash.The Institute for Fiscal Studies, a leading tax and spending watchdog, said plans for a reduction in tax credits – which boost the incomes of low paid workers – will take a
  
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• Homes in windmills – in pictures

  08-11-2017 08:00 via theguardian.com
  Like a circle in a spiral, like a wheel within a wheel … keep these windmills in mind Continue reading...
  
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• Nearly half of all fresh potatoes thrown away daily by UK households

  08-11-2017 07:01
  Figures show nearly 3 million potatoes a day are wasted, at a cost of £230m a yearNearly half of the edible fresh potatoes bought by UK householders each day are thrown away - nearly 2.7 million of them per day, and at a “staggering” annual cost of £230m, figures show.The humble spud is the second most wasted food in the UK, behind bread, according to new official figures released on Wednesday. The new research was offered in support of a government campaign to encourage
  
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• MPs launch inquiry into household finances as £200bn debt pile looms

  08-11-2017 01:01 via theguardian.com
  Treasury select committee, chaired by Nicky Morgan, will look at borrowing and whether consumers are saving adequatelyMPs have launched a formal inquiry into household finances, as personal debt hits levels unseen since the financial crisis. The Treasury select committee will examine the debt levels of UK households as well as whether consumers are saving adequately as Britain leaves the European Union. Problem debt and the treatment of low income families by banks will also form part of the inq
  
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• Average value of UK home soars £7,000 in three months between August and October

  08-11-2017 01:01 via feedproxy.google.com
  MORE than £7,000 was added to the average value of a UK home over the summer, data from Britain’s biggest mortgage lender showed yesterday.
  
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