Financial news

• Trump plays down US-China trade war concerns: ‘When you’re $500bn down you can’t lose’

  04-04-2018 22:04
  After China proposed tit-for-tat import taxes and stock markets fell, there are fears Trump’s aggressive tariffs could cause a slowdown
  Fears that Donald Trump is embroiling America in a global trade war intensified on Wednesday after China imposed tit-for-tat import taxes on the US and stock markets plunged.The Dow Jones industrial average dropped and then rallied after markets fell in Europe and Asia on worries of an intensifying trade conflict between the world’s two biggest econo
  
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• City knives are out for Martin Sorrell and his WPP empire

  04-04-2018 21:00
  If Sorrell survives intact, which he may, he will still have some serious questions to answerThe City is brutal. It digested the news that the board of WPP has hired independent counsel to investigate an allegation of “personal misconduct” against chief executive Sir Martin Sorrell and immediately advanced the story by several jumps. What’s the succession plan? Who’s the next boss? What does it all mean for WPP’s strategy? Will bits and pieces of the advertising emp
  
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• Gender pay gap figures reveal eight in 10 UK firms pay men more

  04-04-2018 20:14
  Data indicates 9.8% median pay gap, as hundreds of companies file figures before deadlineAlmost eight in 10 companies and public-sector bodies pay men more than women it was revealed, as the midnight deadline passed for businesses to report their gender pay gap.
  Some eight years after the law was tabled to compel companies across Great Britain to reveal the extent of the difference between male and female wages, the data showed that women were being paid a median hourly rate that, on average, wa
  
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• Apple poaches Google's AI chief in push to save Siri

  04-04-2018 18:23
  Scottish-born John Giannandrea joined search firm in 2010 and helped it become market leader Apple has poached Google’s AI chief, John Giannandrea, to run its machine learning and AI operations, in the clearest sign yet that the iPhone creator is attempting to fix the problems that saw its early lead in the field crumble.Scottish-born Giannandrea, who joined Google in 2010 after his startup, Metaweb, was acquired, has led the search firm’s push to become market leader in AI and machi
  
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• The ingenious eco tech helping India’s entrepreneurs

  04-04-2018 18:13
  Skoll Awards for Social Entrepreneurship winner: Harish Hande, co-founder of Selco and CEO of the Selco FoundationFrom electric flatbread machines to sustainable lighting sources for street vendors, Harish Hande’s Selco brings efficient, credit-worthy solutions to India’s micro-entrepreneursInequality haunts modern India – and where it bites deepest, and hurts most, is over access to sources of energy. Continue reading...
  
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• We’ve set up #PayMeToo to ensure women earn what they deserve | Stella Creasy

  04-04-2018 14:22
  The gender pay gap reports make it crystal clear that women are systematically undervalued. But there is action we can takeWomen. Like men, only cheaper. And in 2018 we are discovering by just how much. The introduction of mandatory reporting has transformed the debate about the gender pay gap from a little-discussed dry set of statistics directly into staffrooms and workplaces across Britain, with explosive effect. The data shows in black and white just how few women are progressing within orga
  
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• Vauxhall’s Luton plant to increase production despite Brexit fears

  04-04-2018 14:21
  PSA’s Carlos Tavares defies ‘total chaos’ with plans for capacity to rise to 100,000 vehicles per yearThe immediate future of Vauxhall’s Luton plant has been secured after its French owner announced plans to build a new model of the Vivaro van and increase production in 2019.PSA, the manufacturer of Peugeot and Citroen that acquired Vauxhall last year, is expected to invest around £100m in the plant despite persistent uncertainty over Brexit. Continue reading...
  
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• Would you drink Danny DeVito’s limoncello? The big names trying to sell us booze

  04-04-2018 14:05
  From George Clooney and David Beckham to Jay-Z and Fergie, stars are adding a dash of glamour to tequila, whisky and champagne. In Drake’s words, it’s ‘one sip, and wooh!’Celebrities used to be more famous for drinking booze than for producing it, but these days famous people are no more likely to take a wine than they are to take an entire winery. Case in point: actor Ryan Reynolds, who recently announced his purchase of Portland-based Aviation gin from its previous owne
  
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• US and China playing a gigantic game of chicken | Larry Elliott

  04-04-2018 13:47
  If Trump withdraws his threatened tariffs, the Chinese have said they will do the sameWhen Donald Trump tweeted that “trade wars are good and easy to win” most commentators thought the US president was merely sabre-rattling. The prospect of a return to full-scale 1930s protectionism was thought to be minimal. Cooler heads would prevail.A month on, the chances of a trade war between the US and China have significantly increased. Trump has said he will slap a 25% tariff on $50bn of Chi
  
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• Magners cider owner, C&C Group, to buy wholesale arm of Conviviality

  04-04-2018 13:09
  Bargain booze owner sells part of company after failing to raise £125m needed to stave off bankruptcyThe owner of Bulmers, Magners and Tennent’s – Dublin-based C&C Group – is to buy the wholesale arm of struggling Bargain Booze owner Conviviality, safeguarding more than 1,800 jobs.Conviviality is expected to appoint administrators on Wednesday and, before the move, C&C said it planned to buy the Matthew Clark and Bibendum drinks wholesalers for a nominal fee. It w
  
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• Mothercare replaces CEO with former Kmart boss

  04-04-2018 12:27
  Struggling retailer’s move follows revelation last month that it was in talks with its banksMothercare has ousted its chief executive and replaced him with the former head of a US department store group as the struggling retail chain attempts to secure its future after revealing last month that it was in talks with banks. The childrenswear and maternity specialist said on Wednesday that Mark Newton-Jones was leaving with immediate effect after four years in the top job. Continue reading...
  
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• 'Beast from the east' cost UK supermarkets £22m

  04-04-2018 11:36
  Shoppers made 5% fewer visits to grocery shops during the stormy weather opting to stay warm at home instead
  The ‘beast from the east’ cost Britain’s supermarkets £22m in lost sales as customers opted to stay warm at home rather than venture out to the shops.Shoppers made 5% fewer visits to grocery shops during the stormy weather, having stocked their cupboards with warming foods in preparation for the freezing temperatures, according to the data firm Kantar Worldpanel.Co
  
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• Martin Sorrell's CEO role in doubt as WPP investigates misconduct claims

  04-04-2018 09:20
  Pressure mounts on boss of world’s largest marketing group as misuse of funds is allegedSir Martin Sorrell’s iron grip as chief executive of WPP is under threat after the advertising group hired a law firm to investigate an allegation of personal misconduct.
  Sorrell is one of Britain’s best-known and most highly paid business leaders. He is also the longest-serving FTSE-100 chief executive and has run the sprawling WPP empire since starting the business in 1985. Continue readin
  
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• Tell us what the gender pay gap looks like where you work

  04-04-2018 08:50
  As the deadline looms we want to hear the situation where you work and your views on your company’s report on the gender pay gapIf you work for a company with more than 250 employees then management will have been working to report gender pay gaps to the Government Equalities Office. About 9,000 companies and public bodies will be reporting the mean and median difference in hourly earnings and bonus payments. Related: What you need to know about gender pay gap reportingContinue reading...
  
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• My husband has been overpaying Virgin Active for five years

  04-04-2018 08:00
  He has been entitled to a cheap over-55’s rate since he turned 60, but no one told himMy husband and I are longstanding members of Virgin Active gym. My husband turned 60 in January and I have just found out there is an over-55 membership at well under the standard rate. It is not listed prominently on the website and seems to be hidden. This means he has been overpaying for five years. I am angry and baffled. SB, London W14 Your case reflects the complexity of membership deals from this m
  
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• How do you make poverty sound better? Rebrand it! | Arwa Mahdawi

  04-04-2018 07:30
  Having to take several jobs and sending kids to work used to be a sign of living precariously – now it’s just a question of what your ‘side hustle’ isListen carefully. I am about to divulge the secret of financial success. I have deduced a failsafe way to amass a lot of money, even if you earn very little. It doesn’t involve cutting down on avocado toast, crocheting your own clothes or working eight jobs; it’s effort-free. Ready to have your mind blown? Well,
  
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