Financial news

• Philip Green considers selling Arcadia to Chinese textiles giant

  18-02-2018 18:18 via theguardian.com
  Shandong Ruyi looks over books of retail group, thought likely to fetch half its £1bn valuationSir Philip Green is thought to be considering the sale of his Topshop-to-Burton empire Arcadia as a Chinese textiles giant reportedly looks over its books. Green is thought to be seeking an exit from the group as his ageing, poor-performing brands including Dorothy Perkins, Wallis and Evans come under attack from fast-expanding online players such as Boohoo and Missguided. Continue reading...
  
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• Gambling tycoon builds $100m bitcoin-funded Antiguan resort

  18-02-2018 17:54 via theguardian.com
  ‘His excellency’ Calvin Ayre says project will be entirely funded from digital currency profitsCalvin Ayre, a gambling and bitcoin multi-millionaire who was once on the run from the US authorities, is building a $100m five-star resort on Antigua funded by profits from digital currencies.Canadian-born Ayre, who has been appointed Antigua and Barbuda’s special economic envoy, said he had begun work on the upmarket tourist resort on Antigua’s Valley Church beach.Continue rea
  
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• Unbalanced Britain needs more devolution to manage Brexit

  18-02-2018 13:16 via theguardian.com
  With woeful productivity in parts, local authorities should decide how to spend the cash that replaces EU fundsThroughout the 1980s, a war raged between Westminster and the rest of the country that has had lasting effects. Fearing councils under the control of Michael Foot’s Labour opposition, Margaret Thatcher stripped power from town halls in a sweeping political land grab that still marks Britain today.London’s economy during the 1970s and much of the 1980s had more in common with
  
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• Sky netted a sweet Premier League deal but the TV rights bubble isn’t over

  18-02-2018 08:00 via theguardian.com
  The value of TV packages may have plateaued in the UK but footie bosses aren’t worried, with the game’s appeal growing globally and the likes of Amazon on the sidelinesOn the face of it, the outcome of the latest battle for Premier League TV rights appears to be business as usual. Sky has taken the lion’s share of the best matches, extending its stranglehold on the biggest prize in British sports broadcasting to at least three decades, with BT slotting into second place.But wit
  
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• RBS looks to be in the money – but looming fine may put paid to that

  18-02-2018 07:59 via theguardian.com
  The bank’s reporting a profit for the first time in 10 years but its troubles aren’t over – and it’s not the only one in difficultyThis week should be a landmark for Royal Bank of Scotland. The publication of its annual results on Friday should mark the first time since the financial crisis that the taxpayer-backed bank has reported a profit for shareholders.RBS’s dire run started in 2008, when it racked up a loss of £24.1bn – the biggest in UK corp
  
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• Bitcoin DANGER: Cryptocurrency fans furious as JP Morgan point out ‘simple design flaw’

  18-02-2018 02:48 via feedproxy.google.com
  BITCOIN backers are furious with the huge multinational American bank JP Morgan after suggestions one of its biggest features may actually end up being what causes its downfall.
  
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• You’ve heard about the north-south divide. How about the west-east one? | Will Hutton

  18-02-2018 01:03 via theguardian.com
  Geographical inequalities are the result of historical legacies and a fractured economyPlace has always been destiny in Britain, but never more so than in 2018. Pity the child born in Weymouth, Corby or Carlisle, locked into poor schools, a lacklustre economy and few decent jobs; if he or she had been lucky enough to be born in Tower Hamlets, Hackney or Westminster, their life chances might have been transformed. Where you are born in Britain, and England in particular, is becoming ever more a t
  
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