Financial news

• Trump safety cuts may cause workplace deaths to soar, says report

  25-04-2019 20:00 via theguardian.com
  Federal watchdog Osha has cut workplace safety inspectors to the lowest level in its 48-year history under Trump administrationA number of workplace safety advocates fear fatalities will soar as Trump cuts back on the federal work safety watchdog Occupation Safety and Health Administration (Osha).The latest Death on the Job report from union federation AFL-CIO, released to time with Workers’ Memorial Day, showed a slight dip in deaths from 2016, when 5,190 people died on the job. Some 5,14
  
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• Gender pay inequities in Matt Hancock’s health sphere | Letters

  25-04-2019 18:25
  Dr Carole Easton points out that the Department of Health reports a gender pay gap of 10.5%, as opposed to the 23% in the NHS, while Ted Watson says it is not obesity that has made the health service brokeMatt Hancock states that “The NHS is a huge employer of women – I want it to be one of the best as well” (theguardian.com, 25 April). His intention to reduce bullying and harassment is laudable, as is his desire to increase flexible working. But has he paid sufficient attentio
  
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• Women with master's degrees paid less than men without them in England

  25-04-2019 16:57
  Black graduates also paid significantly less on average than white peers, data showsWomen in England with postgraduate degrees still earn less than men with only bachelor’s degrees, while salaries for graduate men are growing at a faster pace than for their female peers, according to the latest official data on graduate earnings.The figures from the Department for Education’s graduate labour market statistics show that women with postgraduates degrees, including master’s degree
  
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• Living costs rising faster for UK's poorest families than richest

  25-04-2019 14:29
  Poorer households fare worse because of types of goods and services they buy, says ONSLiving costs have increased faster for Britain’s poorest households than for the richest, according to official figures, amid a squeeze on living standards for low-income families that has lasted more than a decade.The Office for National Statistics said costs for the poorest tenth of households in Britain had risen by 2.7% a year on average between 2006 and 2018, compared with an increase of 2.3% for the
  
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• Sainsbury shares near 25-year low after Asda merger is blocked - business live

  25-04-2019 12:16 via theguardian.com
  Regulator thwarts supermarket deal, saying it would hurt customers and drive up pricesLatest: Sainsbury’s shares hit by merger woeIntroduction: CMA blocks deal to create UK’s biggest supermarketCMA feared rising prices and lower quality
  Sainsbury’s: Consumers would have been better off!Sainsbury’s CEO Coupe under pressure (and not in the money) 11.16am BST An influential group of academics supported by John McDonnell, Ed Miliband and Caroline Lucas have launched a radical
  
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• Ladbrokes owner proposes ban on gambling ads linked to sport

  25-04-2019 12:15 via theguardian.com
  GVC to end sponsorship deals that promote its brands on football shirts or pitchside Ladbrokes’ owner, GVC, the UK’s largest gambling company, has broken ranks with the rest of the industry by announcing a series of proposals to protect problem gamblers, including an end to TV ads and football shirt sponsorship.GVC’s boss Kenny Alexander called on the rest of the industry to follow suit as he announced a number of measures he said would “do more to protect the vulnerable&
  
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• Extinction Rebellion protesters glue themselves to London Stock Exchange

  25-04-2019 10:40 via theguardian.com
  Climate campaigners target financial district before ending occupations and blockadesClimate change activists have glued themselves to the London Stock Exchange, in protest against the role of the finance industry in fuelling climate change.Extinction Rebellion plans to cause rush-hour disruption in London’s financial district before it brings an end to the wave of demonstrations in which protesters have occupied sites across London for more than a week. Continue reading...
  
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• Pound LIVE: GBP Sterling tumbles against euro after brief bounce on Theresa May update

  25-04-2019 10:28 via feedproxy.google.com
  THE pound is trading lower against the euro and US dollar today after briefly bouncing off news that an attempt to launch an earlier vote of no confidence on Theresa May had been thwarted.
  
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• Barclays cuts bonuses for investment bankers as profits slide

  25-04-2019 10:17 via theguardian.com
  Pre-tax profit of £1.5bn between January and March is down from £1.7bn a year earlierBarclays has cut bonuses for its investment bankers and traders as it posted lower first-quarter profits amid tough market conditions.The bank made a pre-tax profit of £1.5bn between January and March, down from £1.7bn a year earlier but in line with City forecasts. This excludes litigation and conduct charges. If they are included, Barclays made a £1.5bn profit against a £236
  
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• Sainsbury shares slump to 33-month low after Asda merger is blocked - business live

  25-04-2019 09:46 via theguardian.com
  Rolling coverage of the latest economic and financial newsLatest: Sainsbury’s shares hit by merger woeIntroduction: CMA blocks deal to create UK’s biggest supermarketCMA feared rising prices and lower quality
  Sainsbury’s: Consumers would have been better off!Sainsbury’s CEO Coupe under pressure (and not in the money) 8.46am BST The GMB union, which represents many Asda workers, says staff have suffered months of uncertainty thanks to the Sainsbury deal -- management now n
  
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• Extinction Rebellion activists glue themselves to London Stock Exchange in fresh protest – video

  25-04-2019 09:39 via theguardian.com
  Climate change activists have glued themselves to the London Stock Exchange and trains at Canary Wharf station in a fresh set of protests targeting the capital's financial district. The group plans to bring an end to their climate 'rebellion' on Thursday after more than a week of  demonstrators occupying sites across London Extinction Rebellion activists glue themselves to London Stock Exchange Continue reading...
  
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• Oil prices expected to spike in summer as US toughens stance on Iran sanctions

  25-04-2019 09:00 via theguardian.com
  News of US ending exemptions to Iran’s oil sanctions triggered surge in oil prices, as Americans prepare for summer road tripsThe summer driving season may just have gotten more expensive.US and global crude oil prices are near six-month highs as the White House said Monday it would not extend exemptions to Iran’s oil sanctions that were set to end in May. The news triggered an immediate spike in oil prices and comes as gasoline demand seasonally rises as Americans prepare fo
  
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• Extinction Rebellion activists glue themselves to London Stock Exchange

  25-04-2019 08:46 via theguardian.com
  Climate protesters target financial district before ending occupations and blockadesClimate change activists have glued themselves to the London Stock Exchange, in protest against the role of the finance industry in fuelling climate change.Extinction Rebellion plan to cause rush-hour disruption in London’s financial district before they bring an end their climate “rebellion” that has led to protesters occupying sites across London for more than a week. Continue reading...
  
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• Royal Bank of Scotland chief executive Ross McEwan resigns

  25-04-2019 08:43 via theguardian.com
  The 61-year-old has been in the role for five and a half years and says it is the right time to leaveRoyal Bank of Scotland’s chief executive, Ross McEwan, has resigned after five and a half years in the job, saying now is the “right time” to leave.The 61-year-old New Zealander has a 12-month notice period and will remain at the helm of the bank, which is still 62% owned by the UK government, until a successor has been found and an “orderly handover has taken place”
  
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• Time to take stock of Debenhams run-around refund policy

  25-04-2019 08:00
  They couldn’t supply two bridesmaid dresses but refused to give me my money backI’m being given the run-around by Debenhams, which won’t refund £180 for an item that is out of stock. I ordered two bridesmaid dresses on 21 March, promising delivery by 27 March. By 26 March, I still had no dispatch email. I asked for a refund but was told I couldn’t have it as they are now in the “dispatch process”. Five days later there was still no sign of them. I was th
  
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• 'Don't mess with our beers': outrage in Mexico over motion to ban sale of cold beer

  25-04-2019 07:43 via theguardian.com
  A lawmaker in Mexico City proposed outlawing the sale of the cold drink in a bid to reduce public and underage drinkingMexico City residents may have to slake their thirsts with warm beer after a local lawmaker introduced a motion on Wednesday to ban the sale of the cold beverage in convenience stores.The motion – met with incredulity on social media – would modify Mexico City’s commerce laws to ban selling beer or beverages of 7% or less alcohol content, which are “refri
  
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• Sackler family want to settle opioids lawsuits, lawyer says

  25-04-2019 07:00 via theguardian.com
  Owners of Purdue Pharma face more than 2,000 lawsuits by officials who blame prescription opioids for sparking drug crisisThe members of the multi-billionaire Sackler family who own a painkiller manufacturer and are being sued by hundreds of state and local officials as part of the opioids litigation want to settle, a leading lawyer for the family said this week.The attorney Mary Jo White represents four members of the family that controls Purdue Pharma, the company that developed and marketed t
  
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• Dare to declare capitalism dead – before it takes us all down with it | George Monbiot

  25-04-2019 07:00 via theguardian.com
  The economic system is incompatible with the survival of life on Earth. It is time to design a new oneFor most of my adult life I’ve railed against “corporate capitalism”, “consumer capitalism” and “crony capitalism”. It took me a long time to see that the problem is not the adjective but the noun. While some people have rejected capitalism gladly and swiftly, I’ve done so slowly and reluctantly. Part of the reason was that I could see no clear alt
  
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• Boohoo sales soar after taking 'fashion for all' approach

  25-04-2019 07:00 via theguardian.com
  The group, which owns PrettyLittleThing, sells latest bodycon dresses up to a size 26Sales at Boohoo are rocketing after the online fashion group embraced plus-sized models and started selling the latest bodycon dresses, miniskirts and swimsuits in up to a size 26.Boohoo co-founder Carol Kane said the company’s “fashion for all” approach had fuelled growth at the group, which also owns the PrettyLittleThing (PLT) online brand. “We’ve taken a bodycon dress and put it
  
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• Carlos Ghosn, former Nissan chairman, granted $4.5m bail

  25-04-2019 05:32 via theguardian.com
  Tokyo court grants bail to senior executive who has branded raft of allegations ‘a conspiracy’A court in Tokyo has granted bail to Carlos Ghosn, days after prosecutors charged the former Nissan chairman for a fourth time over allegations he misused company funds.Bail was set at 500m yen ($4.5m), according the the Tokyo district court. Continue reading...
  
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• Tesla earnings: company posts surprisingly large losses in delayed report

  25-04-2019 01:18 via theguardian.com
  Firm reveals losses of $2.90 a share after waiting more than an hour after markets closeTesla posted larger-than-expected losses in its first-quarter earnings report, as the company struggles with production rates and was forced to raise prices on a number of its cars.The electric carmaker reported a loss of $2.90 a share in its filing, weaker than the $1.30 loss a share experts were expecting. The company’s stock closed out the day at $258.66 a share and prices fluctuated wildly in after
  
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• Curbing pensioner benefits could help the young, says report

  25-04-2019 01:01
  Lords committee calls for free TV licences for over-75s and other perks to be scrapped Free TV licences for over-75s should be scrapped, the age threshold for free bus passes raised and the triple-lock on pensions abolished to close the widening gap between young and old in Britain, according to a Lords report.The House of Lords committee on intergenerational fairness and provision said it was time to rebalance government policy in favour of the young, to remove the risk of the social bonds betw
  
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• Facebook expects FTC fine of up to $5bn in privacy investigation

  25-04-2019 00:30 via theguardian.com
  Company makes revelation in financial reports showing first-quarter revenue growth to more than $15bnFacebook is expecting to pay as much as $5bn to the US Federal Trade Commission (FTC), it revealed in first quarter financial reports, which otherwise showed continued revenue growth to more than $15bn for the first three months of the year.Facebook recorded a $3bn legal expense “in connection with the inquiry of the FTC into our platform and user data practices”, the company said. Th
  
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