Financial news

• Chinese giant Jingye is leading contender for British Steel buyout

  03-11-2019 15:33 via theguardian.com
  Liberty House and Turkish Ataer among parties interested in steelmakerThe Chinese industrial giant Jingye has emerged as the leading contender to buy British Steel, which collapsed into administration in May.According to a source Jingye was “extremely interested” in making a bid after senior executives – including its chairman, Li Ganpo – flew into the north of England last week for meetings with MPs, unions and advisers to the sale. Continue reading...
  
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• John McDonnell on NHS privatisation and Heathrow expansion under Labour – video

  03-11-2019 14:29 via theguardian.com
  John McDonnell says a Labour government would eradicate all traces of privatisation from the health  service. Speaking ahead of the first full week of election campaigning, the shadow chancellor also says Labour could scrap the expansion of Heathrow because it does not meet the party's criteria on environmental, economic and social impactsLabour promises to remove all traces of privatisation from NHS Continue reading...
  
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• Saudi Aramco IPO: the ultimate marriage between carbon and capitalism

  03-11-2019 13:49 via theguardian.com
  A firm with the biggest carbon footprint seeks cash to grow just as the fight against climate change needs it to shrinkSaudi Aramco gets go ahead for $1.5tn listingRoll up! Roll up! The world’s biggest climate polluter, Saudi Aramco is poised to announce the world’s biggest stock flotation in an ultimate marriage of carbon and capital. Any institution with tens of millions of dollars and few qualms about the environment is invited.Entry is not as exclusive as it sounds. Individuals w
  
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• Government under fire for approval of new coalmine in Cumbria

  03-11-2019 13:36 via theguardian.com
  Decision coincides with net-zero emissions review and is branded ‘backwards step’A new coalmine in Cumbria has been given the green light by the government in the same week that the Treasury launched a review into how the UK can end its contribution to global heating.The developer, West Cumbria Mining, said the £165m mine would create 500 jobs. Continue reading...
  
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• Catalonia's other crisis: dry autumn shrinks wild mushroom crops

  03-11-2019 13:23 via theguardian.com
  Mushrooms are a key feature of Spanish autumnal cuisine but are in thin on the groundWhile street protests and riots in Barcelona continue to grab the headlines, deep in the woods of northern Catalonia another crisis is unfolding: a scarcity of wild mushrooms that is being blamed on climate change.Mushroom hunting is a serious and lucrative business in Catalonia when the autumn rains come and the precious fungi appear overnight on the damp woodland floor. But so far this season, mushrooms have b
  
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• Saudi oil giant Aramco gets go-ahead for $1.5tn stock listing

  03-11-2019 12:34 via theguardian.com
  World’s biggest ever IPO poised to take place next month after regulators give approval Analysis: ultimate marriage of carbon and capitalismSaudi Arabia has given the go-ahead to the long-delayed sale of its state-owned oil company Aramco, in what will be the biggest stock market flotation in history. The milestone market debut could value Saudi Aramco at $1.5tn, significantly below initial expectations of up to $2tn, as it courts international investors for the first time.Continue reading
  
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• Tory plan to outspend Labour turns party's principle on its head

  03-11-2019 12:16 via theguardian.com
  The Damascene conversion to a spending splurge funded via borrowing may not wash with voters, let alone the IFSBy any standards, the UK’s economic performance in the 2010s has been poor. Workers are still earning less in inflation-adjusted terms than they were when the financial crisis erupted in 2008, productivity growth has collapsed, business investment has been weak, the trading performance wretched.Despite all that, Britain has had nine uninterrupted years of Conservative rule and, if
  
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• Corbyn’s warning about the stinking rich could smell sweet to struggling workers

  03-11-2019 11:39 via theguardian.com
  The UK now has more than 150 billionaires, and that ought to be an admission of failure, according to the opening shots of Labour’s election campaignShould anybody have nine zeroes to their name? In the opening stages of the election campaign, Jeremy Corbyn launched a salvo against billionaires. A Labour government would go after super-rich people who exploit a “rigged system” to benefit themselves at the expense of the many, he warned in a speech last week.Britain has more tha
  
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• State Pension increase: Benefit to rise in biggest rise for eight years

  03-11-2019 10:02 via feedproxy.google.com
  PENSIONERS will see the biggest boost in their income in eight years as benefits increase.
  
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• Retail gloom: it will need more than holly to cheer high street

  03-11-2019 10:01 via theguardian.com
  Fragile consumer confidence, rising costs and online shopping leave shops vacant and cost jobsIt’s Christmas! Well, nearly. Last Friday, Argos was the first retailer to broadcast a festive TV ad, signalling the start of what has traditionally been an orgy of consumption in Britain’s shops.But behind the in-store displays of tinsel and looped selection of past Christmas hits, there isn’t much cheer for Britain’s high streets and shopping centres. Fragile consumer confidenc
  
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• Elizabeth Warren’s project is to remake capitalism. What can British politicians learn from her? | Will Hutton

  03-11-2019 10:00 via theguardian.com
  Both Labour and the Lib Dems would do well to study her crusading manifestoFor 40 years, western democracies have been gripped by the doctrine that unalloyed capitalism works. In 2019, the debate has moved on. Capitalism may rule the planet, but it plainly needs fixing. Disaffection is obvious and rising, variously behind the story of riots in Chile or Hong Kong or Britain’s Brexit vote and France’s gilets jaunes.No economist would now claim, as the Nobel prizewinner Robert Lucas onc
  
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• Shale gas fracking wasted ‘millions of taxpayers’ cash’, say scientists

  03-11-2019 09:13 via theguardian.com
  Scientists say research on carbon capture was always better environmental optionMinisters have been condemned for wasting millions of pounds of taxpayers’ money in a failed attempt to introduce fracking to the UK. The bid also cost the nation a decade of effort that should have been expended on other, more environmentally friendly energy projects, scientists and activists claimed yesterday.The criticisms were made in the wake of the government’s decision on Friday to impose a morator
  
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• The motorists driven to desperation by private parking contractors

  03-11-2019 09:00 via theguardian.com
  Car owners are having to wade through piles of paperwork to defend themselves from charges often dismissed in courtPeter Holden’s* nightmare began when he bought a car in 2015. Notices in the car park of his housing association block in Cardiff required residents to display a permit and Holden was issued with a temporary permit by the concierge while he waited for his application to be processed. The temporary permit did not pass muster with Premier Park, the company that managed the car p
  
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• How a visit to a GP can cost patients more than £100

  03-11-2019 09:00 via theguardian.com
  Surgery users launch petition demanding end to parking management scheme that hands out draconian finesPatients risk receiving three-figure charges for visiting their GP as parking management services are introduced in surgery car parks across the country.The system, designed to prevent the abuse of parking spaces, uses automatic number plate recognition (ANPR) cameras to record arriving and departing vehicles, and requires patients to obtain a permit from the surgery. Those who omit to do so or
  
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• Remember: it’s austerity, not Europe, that broke Britain

  03-11-2019 08:00 via theguardian.com
  It is hard to credit Johnson’s appeal to ‘left-behind’ voters when it was his party that chose to leave them behindIn 1970 the prime minister, Harold Wilson, called a general election he expected to win and lost. In the 1974 “who governs Britain?” election, called by prime minister Edward Heath, opposition leader Wilson expected to lose – and won.Heath had successfully negotiated the UK’s entry to the European Economic Community in 1973, in which venture
  
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• Retirement and me: Woman says she’s ‘lost life savings’ after state pension age changes'

  03-11-2019 05:01 via feedproxy.google.com
  RETIREMENT AND ME is the weekly series which looks at how people are spending their time and money as they approach and enter retirement. This week, a woman who was born in the 1950s has spoken about her life following the changes to the state pension age for women.
  
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