Financial news

• ‘Call me’: FCA releases messages between former Barclays boss and Jeffrey Epstein

  12-10-2023 20:21
  
  Financial watchdog provisionally concludes Jes Staley misled it over his friendship with billionaire sex offenderEx-Barclays boss Jes Staley banned from City over Jeffrey Epstein scandalThe UK’s financial watchdog has released a series of messages between former Barclays boss Jes Staley and convicted sex offender Jeffrey Epstein “referring to the strength of their friendship”.The messages form part of its 79-page report, which says Staley and the late billionaire exchanged more
  
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• From F1 supremo to tax fraud conviction: the rise and fall of Bernie Ecclestone

  12-10-2023 20:05
  
  Handshake approach that helped rule motorsport for decades appears to have been his downfallEcclestone given suspended sentence after pleading guilty to fraudBernie Ecclestone ran Formula One almost single-handedly for decades. There was not much other choice: the company’s headquarters in Kensington, London, only contained a handful of staff. The pinnacle of the motor sport business ran on handshakes and face-to-face negotiation.Now that handshake approach appears to have been his downfal
  
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• Incredibly smart or incredibly stupid? What we learned from using ChatGPT for a year

  12-10-2023 19:39
  
  As the tool becomes less of a curiosity and more a part of daily life, fans are finding clever uses – and discovering limitationsNext month ChatGPT will celebrate its first birthday – marking a year in which the chatbot, for many, turned AI from a futuristic concept to a daily reality.Its universal accessibility has led to a host of concerns, from job losses to disinformation to plagiarism. Over the same period, tens of millions of users have been investigating what the platform can
  
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• Royal Mint unveils new coin design inspired by King Charles

  12-10-2023 19:00
  
  Animals and plants feature heavily in coinage that allows ‘everyone to celebrate British nature’A new collection of coins bearing the face of the king has been unveiled by the Royal Mint, breaking tradition with designs inspired by plants and animals found across the four nations.The eight designs, overseen by King Charles, depict the flora and fauna found in different parts of the UK and reflect his interest in conservation and nature. Continue reading...
  
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• Carillion and the government’s shameful inertia on reform | Nils Pratley

  12-10-2023 18:54
  
  Outsourcer’s collapse revealed disgraceful failures at auditor KPMG, yet six years on where is tough new regulator we were promised?Even at the distance of half a decade, the chaotic collapse of Carillion shocks. One of the country’s biggest construction and contracting firms, embedded in schools and hospitals, failed with liabilities of £7bn and just £29m in cash. The company’s pension schemes were underfunded. Almost 3,000 employees lost their jobs and the implosi
  
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• Labour’s supposedly bold ‘new towns’ idea has been tried before. And it failed | Simon Jenkins

  12-10-2023 18:10
  
  These vast sums should be spent improving our ‘second-tier’ cities – not on costly, carbon-guzzling developments in the rural southKeir Starmer’s speech to the Labour party conference was good. It was that of an expectant prime minister, of sonorous phrases and few promises. Then came two words that fell flat: new towns. There would be “Labour new towns”, whatever they are, referred to in later briefing as in the south, on the “M1 corridor”, brooki
  
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• Boss of world’s largest cinema chain victim of catfish blackmail plot

  12-10-2023 18:10
  
  Adam Aron duped into sending explicit photos to ‘Mia’, fake ballet dancer created by US woman who pleaded guilty to cyberstalkingThe boss of the world’s largest movie theatre chain sent sexually explicit messages and photos to a woman who then tried to blackmail him for hundreds of thousands of dollars.Adam Aron, the chief executive of AMC Entertainment, which also owns the Odeon chain in Europe, exchanged messages for weeks last spring with an individual he believed was a ball
  
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• Spanish rail firm planning London to Paris service to rival Eurostar

  12-10-2023 17:25
  
  Evolyn says route is ‘strategic and high demand’ and it intends to launch its first service in 2025A Spanish rail company has announced plans to launch a Paris to London high-speed train service to rival Eurostar.The company, Evolyn, said the route was “strategic and high demand” and that it intended to launch its first service in 2025. It had reached an agreement to buy 12 high-speed trains from the French manufacturer Alstom and had the option of acquiring four more, it
  
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• James Dyson’s family holding company paid £1.2bn dividend in 2022

  12-10-2023 17:20
  
  Payout takes total extracted by pro-Brexit tycoon from technology group to £4bn over past five yearsThe technology group Dyson has paid a £1.2bn dividend to the Singapore-based family holding company of its founder.The pro-Brexit entrepreneur Sir James Dyson moved the group’s corporate headquarters to the city state in 2019, attributing the decision to the growing importance of supply chains and customers in Asia. Continue reading...
  
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• Philip Morris lobbying to stop WHO ‘attack’ on vapes and similar products

  12-10-2023 16:00
  
  Exclusive: Leaked email shows firm behind Marlboro cigarettes critical of global ‘prohibitionist’ agendaPhilip Morris International (PMI), the tobacco and vaping company behind Marlboro cigarettes, is waging a big lobbying campaign to prevent countries from cracking down on vapes and similar products as part of a global treaty, a leaked email reveals.The company, which has been increasingly focusing on smoke-free products as governments tighten regulations on cigarettes, made $10.19b
  
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• Full force of interest rate hikes is yet to be felt, says Bank of England official

  12-10-2023 15:29
  
  Swati Dhingra says economy has flatlined and millions of mostly young and poorer people could be affected if rates stay highBusiness live – latest updatesThe economy has flatlined and only a quarter of the impact from the Bank of England’s 14 consecutive increases in interest rates has fed through, according to one of its policymakers.Swati Dhingra, a member of the central bank’s rate-setting monetary policy committee (MPC), said the full force of the steep rise in borrowing co
  
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• Algorithms are hiring and firing us now – but tougher EU laws could protect workers | Francesca Bria

  12-10-2023 15:00
  
  The rise of management by AI raises urgent questions about data and big tech. We need new legislation to tackle itHollywood’s recent battles between screenwriters and the robots threatening their jobs should have been a wake-up call for millions of European workers. Who will protect our working rights from the algorithms, which increasingly act like our bosses?The traditional landscape of our workplaces, from factories to offices, is being dramatically transformed by the proliferation of r
  
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• US price growth holds steady as Fed mulls next move in inflation battle

  12-10-2023 14:43
  
  Official data shows consumer price index up to 3.7% as central bank keeps watchful eye on latest inflation figuresPrice growth held steady in the United States last month as the Federal Reserve mulls the next stage of its battle against inflation.The consumer price index rose at an annual pace of 3.7% in September, according to the Bureau of Labor Statistics. This was in line with August’s 3.7% reading. Continue reading...
  
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• Refusing to fly has lost me my job as a climate researcher. It’s a price worth paying | Gianluca Grimalda

  12-10-2023 14:12
  
  My company in Germany has demanded my swift return from climate-change fieldwork near Papua New Guinea. I can’t do itTwo weeks ago, my employer presented me with a stark ultimatum: return to my offices in Kiel, Germany, within five days, or lose my job. I am a climate researcher and since March 2023, I have been completing vital fieldwork into the social impact of climate change almost 24,000km away by overland routes, on the island of Bougainville off the coast of Papua New Guinea.My fiel
  
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• Dominica may have sold thousands more ‘golden passports’ than it disclosed, analysis suggests

  12-10-2023 13:42
  
  Investigation raises questions about transparency and governance of $1bn citizenship by investment schemeRevealed: thousands who bought ‘golden passports’ through Dominica’s $1bn schemeLuxury rooms and a swim-up bar: hotel with funding from Dominica’s golden passport schemeThe Caribbean island of Dominica may have sold thousands more “golden passports” than its government has publicly disclosed, according to analysis that raises questions about the transparenc
  
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• Home care: seven tops tips on how to find a suitable provider

  12-10-2023 13:14
  
  From ensuring they are registered with a professional body to deciding on the level of support needed, here’s what you need to know about bringing professional care support into your home, or that of an older loved one …An ageing population means there are increasing numbers of people in the UK struggling to get the care they need. A recent study by Age UK has found an estimated 1.6 million people aged over 65 have unmet needs for care, and about 40% of older people don’t feel
  
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• Home care: seven top tips on how to find a suitable provider

  12-10-2023 13:14
  
  From ensuring they are registered with a professional body to deciding on the level of support needed, here’s what you need to know about bringing professional care support into your home, or that of an older loved one …An ageing population means there are increasing numbers of people in the UK struggling to get the care they need. A recent study by Age UK has found an estimated 1.6 million people aged over 65 have unmet needs for care, and about 40% of older people don’t feel
  
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• What is home care? Ways to support older loved ones – in the place they’re happiest

  12-10-2023 13:13
  
  There are more older people than ever before and the majority want to maintain their independence. Could professional home carers play a part?There are no get-outs when it comes to getting old. No magic pills, no alternatives, no options to pick and choose from a menu of what the ageing process has in store. There is, however, help out there for those in need, even for those who need nothing more than a regular chat over a cup of tea.The population of England and Wales is skewing older, accordin
  
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• UK economy grew by 0.2% in August – but recession concerns remain

  12-10-2023 10:42
  
  Rise in GDP fuelled by business services amid worries that impact of recent interest rate hikes yet to be feltThe UK economy returned to growth in August, as activity picked up after a worse-than-expected slump in July.A modest 0.2% rise in gross domestic product in August was driven by a jump in business services output that offset a downturn in manufacturing and the negative impact of the US film and TV writers’ strike, which has closed down large parts of the British film industry. Cont
  
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• Tell us: how energy efficient is your new-build home in the UK?

  12-10-2023 10:37
  
  We want to speak to renters and homeowners in the UK who live in recently built homes about how low carbon their property isWe want to speak to people in the UK who live in recently built housing about how energy efficient and low carbon their home is.Whether you are a renter or a homeowner in the UK, if you live in a new-build home – constructed in the last few years - we want to hear about your experience. Is your home well-insulated – or not? What is the impact on you and your bil
  
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• Pressure on Reeves to drop Labour opposition to higher wealth taxes

  12-10-2023 07:00
  
  Union leaders and MPs on left of party say UK’s finances must be improved by taxing very richestRachel Reeves is under pressure to drop Labour’s blanket opposition to higher taxes on wealth, amid growing alarm within the party over extreme levels of inequality and the battered state of Britain’s public finances.After a conference in Liverpool designed to showcase party unity and economic credibility, trade union leaders and senior figures on the shadow chancellor’s left s
  
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• Half a billion cheap electrical items go to UK landfills in a year, research finds

  12-10-2023 07:00
  
  Research by Material Focus shows everyday items such as disposable vapes are a big contributing factorAlmost half a billion small, cheap electrical everyday items from headphones to handheld fans ended up in landfill in the UK in the past year, according to research.The not-for-profit organisation Material Focus, which conducted the research, said the scale of the issue was huge and they wanted to encourage more recycling. Continue reading...
  
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