Financial news

• Global workforce will be decimated by fourth revolution, says Siemens boss

  15-07-2018 18:49 via theguardian.com
  Joe Kaeser says it’s up to business and governments to find workable solutionGlobal workforces will be decimated as the next industrial revolution gets under way, the head of one of Germany’s biggest firms has warned, unless workers are retrained with new skills. Joe Kaeser, global chief executive of the engineering giant Siemens, said up to almost a third of jobs could be lost as the transition from combustion engines to electric cars takes place over the next decade, in what will b
  
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• Hundreds of train cancellations blamed on World Cup final

  15-07-2018 17:50 via theguardian.com
  Staff shortages at Northern, GWR and CrossCountry also down to heatwave, bosses sayHundreds of trains have been cancelled or delayed owing to staff shortages blamed on the World Cup and hot weather. Great Western Railway (GWR), Northern and CrossCountry services were disrupted on Sunday as fewer train crews than normal agreed to work.Continue reading...
  
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• Insurance firms heap pressure on troubled Debenhams

  15-07-2018 17:03 via theguardian.com
  Reduced cover for high street chain’s suppliers is a ‘massive warning light’Debenhams is under fresh pressure after it emerged credit insurers have reduced cover for suppliers to the department store chain in the latest sign of the challenges facing Britain’s high streets. Suppliers use credit insurance to protect themselves from the risk of not being paid. Euler Hermes, a leading insurer, is among those to have reduced cover. Continue reading...
  
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• Cambridge discovers the economic benefit of clustering | Richard Partington

  15-07-2018 14:31 via theguardian.com
  Victorian concept of the ‘industrial district’ could protect the UK from the worst of BrexitThere are tourists punting on the river and cyclists thronging the street. On this summer day, many of the trains have been cancelled or face severe delays. It’s more than a century since the Victorian economist Alfred Marshall taught at Cambridge University – where the economics library still bears his name – yet he would still recognise plenty of things about the city today
  
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• Why going cashless is discriminatory – and what's being done to stop it

  15-07-2018 12:00 via theguardian.com
  Not accepting cash excludes service to those without access to credit cards, but a new bill would make it illegal for restaurants to refuse paper moneyMobile payments. Credit cards. Digital currencies. Going cashless seems to be a worldwide trend. In Belgium, it is illegal to buy real estate with cash. Some banks in Australia have eliminated cash from their branches. Sweden has seen its use of cash drop to less than 2% of all transactions, and the number could be heading even lower in the next f
  
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• Has Greece finally escaped the grip of catastrophe?

  15-07-2018 10:30 via theguardian.com
  The country will exit from its final international bailout within weeks but, with no sign the debt will ever be paid off, some fear another crisisGreece’s oldest literary society, the Parnassos cultural club, stands opposite a church on one of Athens’s oldest squares. Its neoclassical facade and monumental columns were designed to impress. The society, named after the home of the Muses, had a single objective: to promote the nation’s “intellectual, moral and social improv
  
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• Trump’s trade war makes political sense to his base. Rivals must beware

  15-07-2018 08:00 via theguardian.com
  China may have underestimated the president’s determination, and the global fallout from any US ‘victory’ will come laterWhen Donald Trump’s chief trade adviser went to Beijing in May with proposals to open up China’s vast domestic market to American goods – and thereby reduce a ballooning trade deficit with China – the mission was declared a failure.Before Robert Lighthizer set off, the veteran rightwing economist told Congress: “It is not my obje
  
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• Investors deliver a rebuke to Royal Mail over first-class pay

  15-07-2018 08:00 via theguardian.com
  Executive rewards at privatised monopolies has long aroused anger. This week it’s the postal service’s turnFat-cat pay rows have never been confined to just the privatised industries, but the often lavish rewards handed out to bosses of the vital services sold off by successive governments seem to cause particular ire.Think back to Cedric the pig, the poor porker paraded at a British Gas annual meeting to protest against the 75% pay rise for Cedric Brown, who was chief executive. Con
  
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• The dishonourable Boris Johnson has brought us to the brink of catastrophe

  15-07-2018 07:59 via theguardian.com
  Lord Carrington and the other foreign secretaries who resigned on matters of principle contrast starkly with today’s populistsThe resignation of Alexander (“Boris”) Johnson from the prestigious post of foreign secretary in Her Majesty’s government came on the very same day that his illustrious predecessor Lord Carrington died at the wonderful old age of 99.Johnson becomes the fourth foreign secretary to have resigned since the war – all of them since the arrival of
  
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• Growth forecast reduces to ‘tepid’

  15-07-2018 06:27 via feedproxy.google.com
  BRITAIN will experience “tepid” economic growth this year due to higher inflation, subdued consumer spending and a slowdown in Europe, according to the respected EY ITEM Club think tank.
  
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• I run business from shed to survive

  15-07-2018 04:10 via feedproxy.google.com
  A CANDLE maker has set up a flourishing shop on an industrial estate to avoid the “astronomical” cost of rent and business rates on the high street.
  
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