Financial news

• WeWork: SoftBank wants Adam Neumann replaced as CEO

  22-09-2019 22:48
  Japanese giant exploring ways to make big changeOffice-share start-up saw IPO postponedSoftBank, the biggest investor in WeWork, is exploring ways to replace Adam Neumann as chief executive, four people familiar with the matter told Reuters on Sunday. Related: 'A giant question mark': can WeWork's Adam Neumann reassure investors?Continue reading...
  
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• Rochdale traders and shoppers despair at loss of historic market

  22-09-2019 19:43
  Residents of the town, a trading centre since 1251, are bracing for the closure of the market next monthAlmost 800 years after Rochdale received the royal charter that made its historic market possible, traders and shoppers have expressed their dismay at the news it will soon be shut down for good.The Greater Manchester town, a trading centre since 1251, thrived for centuries as a hub for wool, cloth and cattle. But last week the local authority said the market – which is in its third loca
  
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• English councils send bailiffs to 310 firms a day, study reveals

  22-09-2019 19:23
  Figures come as chancellor is urged to ease the burden of business rates The UK chancellor is being urged to ease the burden of business rates after new figures suggested councils are sending bailiffs to 310 companies a day over arrears.English councils sent bailiffs to more than 69,000 companies that have struggled to pay their business rates in the year to the end of March, according to responses to a series of freedom of information requests made by the property consultancy Altus. Continue re
  
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• Hargreaves Lansdown founder attacks Neil Woodford over frozen fund

  22-09-2019 17:59
  Peter Hargreaves says fund manager appears not to have been truthful about performance The billionaire founder of the UK’s largest retail investment platform has attacked the beleaguered fund manager Neil Woodford for appearing not to be “truthful” about the performance of his frozen investment fund.Peter Hargreaves – who with Stephen Lansdown founded the Hargreaves Lansdown share-dealing service for private investors in 1981 – added that the firm’s clients ha
  
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• The British economy creates lots of jobs – not lots of pay rises | Philip Inman

  22-09-2019 16:34
  UK has created many part-time or self-employed roles, with new full-time posts going to older workersJobs, jobs, and more jobs. That is Britain’s economic success story of the last 10 years.While public services crumble and the welfare budget continues to be squeezed, when planning for a no-deal Brexit has displaced almost all other activities in Whitehall, ministers can always point to the UK economy as a well-oiled jobs machine. Continue reading...
  
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• Wrightbus in last-minute search for buyer to avoid collapse

  22-09-2019 16:22
  Northern Ireland maker of London’s new Routemaster buses employs 1,400 workersOne of Northern Ireland’s biggest employers faces a crunch week as Wrightbus, which employs 1,400 staff, attempts to stave off collapse by securing a last-minute rescue deal.Mounting financial problems at the Ballymena-based company have left it looking for a buyer, with the Chinese engineering group Weichai and a firm led by the JCB heir, Jo Bamford, understood to be the suitors in talks. However, local MP
  
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• A watershed moment for women as Alison Rose takes charge at RBS

  22-09-2019 15:18
  Appointment as CEO gives Britain a chance to take a great leap forward for women at senior levelsAlison Rose’s elevation to the top job at RBS, where she will succeed Ross McEwan as chief executive, is cause for celebration.Never before has the UK had a woman running one of its big four banks. Rose’s achievement is all the more remarkable for her journey through the bank, not so much for being one of the survivors after its near-demise in the 2008 financial crash, but for gaining exp
  
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• Geese, plover … and blast-off: Western Isles spaceport threatens wildlife and tourism, locals fear

  22-09-2019 09:32
  North Uist could be home to a new rocket site – but islanders say it would damage important habitatsRocky headlands frame the silvery white sands of Scolpaig Bay on the western coast of North Uist. The spread of machair – a grassland thick with flowers in summer – moorland and rock is much loved by walkers and birdwatchers.It is home to breeding colonies of cormorants and black guillemots as well as seals, otters and the occasional hen harrier. On the horizon to the west, the d
  
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• Labour has travelled a long way from the first European referendum

  22-09-2019 08:00
  Corbyn is claiming to emulate Harold Wilson in staying neutral over Brexit. But the reality of four decades ago was very differentMy friend Tom McGuinness, who will be known to many as the lead guitarist in Manfred Mann (now the Manfreds), recently spotted a most moving Churchill quote on a D-Day memorial in Normandy. “Men will be proud to say ‘I am a European’. We hope to see a day when men of every country will think as much of being a European as of being from their native c
  
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• Fraudsters hijack eBay parcels in a postcode lottery

  22-09-2019 08:00
  Refunds to buyers rely on Royal Mail tracking using postcodes rather than signatures, and it’s helping thievesAnastasios Siampos was suspicious after selling an iPhone for £275 on eBay. The buyer claimed it was defective and, though Siampos contested this, eBay instructed the buyer to return it using Royal Mail’s 48-hour tracked delivery service. Two days later eBay refunded the buyer, insisting that Royal Mail’s tracker showed the parcel had been successfully returned. S
  
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• We fight for security and pensions | Letters

  22-09-2019 07:00 via theguardian.com
  For the University and College Union, better working conditions and contracts are every bit as important as pensionsPhilip Inman gave a misleading account of the University and College Union’s campaigns to defend university pensions and fight for job security and a manageable workload (“Academics are fighting the wrong battle over pensions”, Business). It is not correct to suggest that we are focusing on the fight to save our pension scheme at the expense of seeking better work
  
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• Donald Trump is no hero of the working class. And the GM strikers know it | Robert Reich

  22-09-2019 07:00
  The walkout at General Motors is a predictable and powerful result of the president’s own kind of capitalismDonald Trump pretends to be a tribune of the working class, standing up for American jobs. Last week nearly 50,000 General Motors workers went on strike to get what they see as their fair share of its profits and stop further layoffs. Trump’s response? A shrug. Related: 'It's devastating'. End of GM in Ohio town as Trump fails to bring back midwest jobsContinue reading...
  
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