Financial news

• Ministers set to be given new powers to block foreign takeovers

  23-07-2018 23:06 via theguardian.com
  Proposals cover all sectors of the British economy on national security groundsMinisters will have the power to block foreign takeovers across all sectors of the British economy on national security grounds under new government proposals designed to protect some of the UK’s most important and technically advanced businesses.The business secretary, Greg Clark, wants to widen the scope of the current system, which is limited to large transactions and certain industries such as defence, to co
  
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• The City will applaud Ryanair's tough stance only if it gets results

  23-07-2018 20:38 via theguardian.com
  Union recognition is new at the airline and the experience is proving less than happyRyanair’s emergency plan for a hard Brexit sounds dramatic but airworthy. The Irish group can restrict the voting rights of non-EU shareholders, which would include UK investors, in order to comply with ownership rules of EU-based airlines. It can also be confident that a UK operating licence to protect its UK domestic routes will be forthcoming. The show will go on.A greater long-term risk, at least for s
  
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• Australia’s tax base is collapsing and we are on a collision course with reality | Greg Jericho

  23-07-2018 20:00 via theguardian.com
  The government either needs to raise revenue or cut spending on services and benefitsA report by the Parliamentary Budget Office on the trends of taxation should sound a large warning to governments around Australia. Our tax base is narrowing at a time when the needs of spending on areas such as pensions and healthcare are growing. Unless changes are made, the government will be forced to either cut spending on services and benefits, or its ability to consistently deliver a surplus will be ever
  
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• Trump calls Washington Post ‘expensive lobbyist', reigniting war with Bezos

  23-07-2018 19:46 via theguardian.com
  President tweeted that the newspaper had ‘gone crazy’ against him and claimed it lobbies on behalf of the Bezos-owned AmazonDonald Trump has renewed his attacks on the world’s richest man and his arch nemesis, Jeff Bezos, railing against the Bezos-owned Washington Post and Amazon, the original source of the entrepreneur’s $150bn fortune. Related: Why does Trump hate Jeff Bezos: is it about power or money?Continue reading...
  
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• Orchards face being bulldozed as Heineken ends cider-apple deals

  23-07-2018 18:47 via theguardian.com
  Glut of fruit leads to drinks giant not renewing some Herefordshire contractsOrchards in one of Britain’s biggest cider-making regions face being bulldozed because the drinks giant Heineken is pulling the plug on apple-growing contracts.The Dutch brewer – which has owned Herefordshire-based Bulmers since 2008 – uses around a third of all the cider-apples grown in the UK. About 180 orchard owners, mostly based in Herefordshire, supply the fruit. Continue reading...
  
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• Offshore owners of British property to be forced to reveal names

  23-07-2018 18:25
  Hiding identity to be punished with up to five years’ jail in money-laundering crackdown Offshore owners of British property will be forced to reveal their true identities or face jail sentences and unlimited fines under draft laws that aim to end the UK’s reputation as a high-risk jurisdiction for money laundering.The legislation follows years of scandals involving the acquisition of high-value UK property by offshore companies, and concerns that a lack of regulation was allowing co
  
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• Tesla shares drop after embarrassing memo leaks

  23-07-2018 18:03 via theguardian.com
  Shares dropped almost 5% after the automaker was reported to have asked US suppliers for refunds, unnerving some investorsTesla took another financial hit on Monday, with shares in the company dropping almost 5% after the electric automaker was reported to have asked some US suppliers to return payments to the money-losing company.The disclosure was contained in a memo sent last week by a global supply manager and obtained by the Wall Street Journal. In it, the manager described the payments as
  
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• Channel 4's second HQ to be in Birmingham, Manchester or Leeds

  23-07-2018 17:46 via theguardian.com
  Winner of competition for new base will be announced in the autumnBirmingham, Greater Manchester and Leeds will compete to become the home of Channel 4’s second headquarters, following a strongly fought competition between local politicians keen to attract high-profile jobs to their region.The broadcaster has committed to transferring about 300 staff from the 800 working at its Westminster headquarters to new locations outside London as part of a deal with the government designed to avoid
  
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• Stagecoach gives trial to UK's first full-sized driverless bus

  23-07-2018 15:23 via theguardian.com
  Single-decker will run autonomously only in depots until laws allow passengersA full-sized driverless bus will be given a trial for the first time in the UK by one of Britain’s biggest transport operators later this year. Stagecoach said the single-decker bus will run autonomously only in its depots until laws change to allow it to carry passengers. Continue reading...
  
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• UK government opens door to mobile market consolidation - Financial Times

  23-07-2018 15:00
  Financial Times
  UK government opens door to mobile market consolidation
  Financial Times
  The UK government has said that it would support mobile consolidation if the country's four players struggle to justify the investment needed for 5G network upgrades. The surprise comment comes only two years after Three's planned £10.25bn takeover of ...
  
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• UK confirms plans for doubling offshore wind capacity in next decade - Financial Times

  23-07-2018 14:31
  Financial Times
  UK confirms plans for doubling offshore wind capacity in next decade
  Financial Times
  The UK government has confirmed plans to hold biennial auctions for offshore wind subsidies as part of a push to double capacity in the sector over the next decade, giving companies greater certainty around investment decisions. The move, to be ...en meer »
  
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• How to be an excellent landlord (Christmas sherry not mandatory) | Penny Anderson

  23-07-2018 14:00
  Encouraging good tenants to stay saves you bother and fees, so here are 10 tips to help buy-to-letters be more kind and tolerantHe’s been at it again. The poster boy for terrible landlords, Fergus Wilson, is being investigated by the Equality and Human Rights Commission for refusing to house and issuing notices to single mothers. This is the man who rejected people of colour as tenants, due to “the curry smell”.There are, however, many good reasons for more decent people to bec
  
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• UK faces a vaping dilemma as ecigarettes puff up the glamour - Financial Times

  23-07-2018 13:35
  Financial Times
  UK faces a vaping dilemma as ecigarettes puff up the glamour
  Financial Times
  In 2014, the Oxford dictionary's choice of word of the year was “vape” to mark the rise of electronic cigarettes. Now there is a new word and another controversy to grapple with — “juuling”. Juul, the US's most successful ecigarette brand, launched in ...en meer »
  
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• Starbucks is banning straws – but is it really a big win for the environment?

  23-07-2018 13:00 via theguardian.com
  The coffee giant has announced that it is phasing out straws. But are the new lids it’s introducing actually any better? This month, Starbucks joined a growing movement to ban single-use plastic straws, announcing it would eliminate the items from its stores by 2020. In their place, the company will be introducing strawless lids, which have a sippable protrusion. It will also make alternative-material straws available. Starbucks already has strawless lids available in more than 8,000 of it
  
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• Burberry’s bonfire of the vanities is brazen and ecologically reckless | Lucy Siegle

  23-07-2018 12:30 via theguardian.com
  Fashion brands are increasingly turning to burning excess stock – and attempting to justify it on environmental groundsThere are many burning issues with sustainability in the fashion industry, as we know. It seems the British heritage brand Burberry has sought to make these crises literal, by burning more than £28m worth of surplus fashion and cosmetic products. An eagle-eyed reader ploughing through Burberry’s 2017/18 annual report noticed a statistic for “finished good
  
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• Barclays to create up to 2,500 jobs at new Glasgow tech hub

  23-07-2018 10:44 via theguardian.com
  ‘Transformational’ Buchanan Wharf campus could double bank’s workforce in ScotlandBarclays has announced plans to create up to 2,500 jobs in Glasgow.The bank is developing a campus in Buchanan Wharf to provide a base for its functions, technology and operations teams. Continue reading...
  
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• Ryanair profits fall by a fifth as it warns of more strikes

  23-07-2018 09:31 via theguardian.com
  Airline grows rapidly in first quarter, with 7% rise in passenger numbers Ryanair has warned staff planning a summer of strikes that efforts to secure improved pay and working conditions could put their jobs at risk, as it reported a 20% decline in first-quarter profit.The no-frills airline continues to grow rapidly, reporting a 7% increase in passenger numbers to 37.6 million that pushed revenue up 9% to nearly €2.1bn (£1.86bn).Continue reading...
  
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• Why didn’t my Eames chairs come up to the mark?

  23-07-2018 08:00
  They cost £339 each from John Lewis but there were ‘stains’ on the white seats within monthsI bought four Eames dining chairs, made by Vitra, from John Lewis in August 2016. They were £339 each and were not delivered until the end of December – 20 weeks later than the 10 weeks promised. In February this year – just over the 12 months’ guarantee from when they were delivered – the white seats developed marks in each corner exactly where the black le
  
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• Plan early and avoid debit cards: how to get the most from holiday money

  23-07-2018 08:00
  As families begin their summer break, here are some tips to help beat the weak poundAs children finish up at school for the summer, the traditional August holiday season will see many families hit the continent, away from the political turmoil at home.But while many may be hoping to escape any discussion of Brexit, it will be impossible to get away from the impact of the 2016 vote on sterling and how many euros they get for their pound. Towards the end of July 2015 – the summer before
  
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• Quorn invests £7m into R&D on back of veganism boom

  23-07-2018 07:00 via theguardian.com
  Meat-alternative brand reveals 12% rise in sales to £112m in first six months of the yearThe vegan food boom has prompted one of Britain’s biggest names in meat-free food to make a multimillion-pound investment in R&D. Quorn is spending £7m on a research and development facility at its North Yorkshire headquarters as the meat-alternative brand attempts to capitalise on the increased popularity of veganism. Continue reading...
  
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• Fluffed it! The truth about Build-A-Bear's day of mayhem

  23-07-2018 07:00
  The global company was once lauded for being ahead of the curve, so what was behind the ‘pay-your-age’ misjudgment that left scores of its little customers brokenhearted?Thursday 12 July should have been a red-letter day for thousands upon thousands of kids, and for their favourite shop, Build-A-Bear Workshop. The company had announced a pay-your-age promotion, so customers in the UK, US and Canada could come in to make their own teddies and pay just a fraction of the normal cost: in
  
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• Monday Papers: Brussels rejects UK's financial services Brexit plan - Citywire.co.uk

  23-07-2018 06:26
  Citywire.co.uk
  Monday Papers: Brussels rejects UK's financial services Brexit plan
  Citywire.co.uk
  Financial Times: Brussels has turned down the UK's plan on how to govern the City of London's access to the European market after Brexit, expressing concerns that the proposal would rob the EU of its "decision-making autonomy". The Times: Bombardier ...en meer »
  
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