Financial news

• The high price of New Look’s low-cost strategy | Lucy Siegle

  13-06-2018 18:28 via theguardian.com
  The barons of fast fashion have grown rich – but the impact on garment workers in Dhaka and elsewhere can be devastatingThe refrain coming from the “fast fashion” retailer New Look reminds me of that Chumbawamba song from the 1990s. They get knocked down but they get up again (repeat ad infinitum). The brand has gone into a form of insolvency called a company voluntary arrangement (CVA), shuttering 60 stores and losing 980 staff. Its leadership also pinpointed where things all
  
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• GCHQ cybersecurity experts investigate Dixons Carphone data breach

  13-06-2018 17:42
  Electronics retailer apologises for breach involving 5.9m customers’ bank card detailsA branch of GCHQ, Britain’s intelligence and security service, is investigating one of the UK’s biggest data breaches at a single firm, involving unauthorised access to 5.9 million Dixons Carphone customers’ cards.The National Cyber Security Centre said it was working alongside the retailer and other agencies after the attack, which also involved unauthorised access to 1.2m personal reco
  
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• Why were we charged £1,000 to cancel our wedding venue?

  13-06-2018 17:07
  We paid the money for the venue in December 2019, but face a ‘no refunds’ policyWe have had to cancel our wedding at The Vu in Bathgate, West Lothian, booked for December 2019. The contract required a £500 deposit, followed by another £500 six months later and then the third £500 a year before the wedding. We have already paid £1,000 but the venue insists this is non refundable. I don’t believe it has incurred any costs and is reselling the date.Continue
  
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• Why the smart money should shift to the UK games sector

  13-06-2018 15:55 via theguardian.com
  Industry legend Ian Livingstone, speaking at Creative England Live 2018, warns studios are struggling for investment despite their high-profit potentialFacebook UK’s headquarters is hardly a stranger to creative thinking, but the air was crackling with inspiration at the launch of Creative England’s 50 (CE50) 2018 in central London.The annual event highlights the best upcoming innovators and businesses from the world of games, film, television, virtual reality (VR) and digital media.
  
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• Michelin-starred chef Atul Kochhar sacked over anti-Islam tweet

  13-06-2018 15:37 via theguardian.com
  
  Dubai hotel ends contract with chef who tweeted that Islam had ‘terrorised’ Hindus for 2,000 yearsA Dubai hotel has terminated its contract with the Michelin-starred chef Atul Kochhar after he tweeted that followers of Islam had “terrorised” Hindus for 2,000 years.The London-based chef, who is associated with the Rang Mahal restaurant in Dubai as well as five others in the UK and Spain, had been reacting to an episode of the US TV programme Quantico. Continue reading...
  
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• The euro could be nearing a crisis – can it be saved? | Joseph Stiglitz

  13-06-2018 14:55 via theguardian.com
  It was supposed to bring shared prosperity, but instead it has slowed growth and sown discordThe euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a eurosceptic government. This should surprise no one. The backlash in Italy is another predictable (and predicted) episode in the long saga of a poorly designed currency arrangement, in which the dominant power, Germany, impedes the necessary reforms and insists on p
  
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• Asda cuts fuel prices after big drop in wholesale costs

  13-06-2018 11:22
  ‘At last retailers have done the right thing and started to cut prices,’ says RACAsda has cut fuel prices after claims that retailers were refusing to pass on a drop in wholesale costs. The supermarket has reduced the price of unleaded by up to 3p a litre and diesel by up to 2p. Its national price cap means drivers will pay no more than £1.25 a litre for unleaded and £1.28 for diesel at its 318 filling stations.Continue reading...
  
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