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The great interest rate rip off part 10


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Credit Suisse equity strategists see pound falling further vs euro

 

LONDON Credit Suisse equity strategists said on Wednesday they expected sterling, which has been hit by concerns over Brexit, to fall further against the euro, and tipped buying UK stocks with earnings in Europe.

7:10am BST

Don't see need to ease at next rate review - BOJ's Harada

 

MATSUMOTO, Japan Bank of Japan board member Yutaka Harada said on Wednesday he saw no need now to ease monetary policy at the bank's next rate review on Oct. 31-Nov. 1 given improvements in the job market.

6:46am BST

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Timeline - Samsung Electronics' Galaxy Note 7 recall crisis

 

SEOUL Samsung Electronics Co Ltd scrapped its flagship Galaxy Note 7 smartphone on Tuesday less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns.

6:38am BST

Report spurs concern about productivity in German industry - Welt

 

BERLIN A new report showing declining labour productivity has raised concern in a leading trade group about the future competitiveness of the German automotive and mechanical engineering sector, the German newspaper Die Welt reported.

6:07am BST

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Wells Fargo faces costly overhaul of bankrupt sales culture

 

Embroiled in a scandal over unauthorised customer accounts, Wells Fargo & Co faces a steep challenge in overhauling its hard-charging sales culture without gutting profits.

6:01am BST

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VW may cut 2,500 jobs per year via early retirements, says labour boss - Handelsblatt

 

BERLIN Volkswagen may cut up to 2,500 jobs per year over 10 years by moving workers into early retirement, Handelsblatt reported on Wednesday, citing Bernd Osterloh, chief of the carmaker's influential works council.

5:55am BST

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Apple to set up R&D centre in Shenzhen, bolster China ties

 

HONG KONG Apple Inc will set up a research and development centre in China's manufacturing metropolis Shenzhen, the U.S. tech giant said on Wednesday, as the firm looks to spur growth in the world's second largest economy amid growing competition.

5:05am BST

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Civil liberties group urges Verizon to shore up Yahoo user protection

 

SAN FRANCISCO An international civil liberties group that has worked with web companies on human rights and surveillance issues is asking Verizon Communications Inc to examine a secret email scanning programme run by its acquisition target Yahoo Inc and improve on its user protection record.

5:01am BST

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GM ventures into China car-sharing with investment in app developer

 

BEIJING U.S. automaker General Motors Co made its first investment in a Chinese car-sharing start up, the company said on Tuesday, as its attempt to reshape itself as a mobility solutions company spreads around the globe.

4:54am BST

Japan's JBIC says cautious on lending to resource sector

 

TOKYO Japan Bank for International Cooperation (JBIC), a major backer of mining and energy projects for Japanese companies, said it will be cautious on lending to the resources sector despite a rally in commodity prices this year.

Will ease policy again if needed, including more rate cuts - BOJ's Kuroda

 

TOKYO Bank of Japan Governor Haruhiko Kuroda said on Wednesday he is prepared to ease monetary policy again if needed, including pushing short-term interest rates further into negative territory, to jump-start a sluggish economy and stoke inflation.

2:25am BST

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Never decided AIB IPO would be in 2017 - Irish finance minister

 

DUBLIN Ireland never decided for certain it would offer a 25 percent stake in state-owned Allied Irish Banks next year and will sell when the time is right, Finance Minister Michael Noonan said on Tuesday.

2:08am BST

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Nobel winner says CEO pay too complex, echoing investor gripe

 

BOSTON A 2016 Nobel Prize winner said executive pay plans have grown too complex and cited the overuse of consultants, remarks that pay specialists on Tuesday said echoed the complaints of many investors about ever-more detailed compensation statements.

11 Oct 2016

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Samsung scraps Galaxy Note 7 over fire concerns

 

SEOUL Samsung Electronics Co Ltd scrapped its flagship Galaxy Note 7 smartphone on Tuesday less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns.

11 Oct 2016

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Yum China aims to triple restaurants as challenges loom

 

Yum Brands Inc said it can triple the number of restaurants in its China division, which is being spun off after a string of sales setbacks that have raised the risk profile of the company's top profit generator.

11 Oct 2016

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Trump plan would aid Wall Street despite end of carried interest

 

WASHINGTON Republican presidential candidate Donald Trump in Sunday's debate reiterated his promise to kill the "carried interest" tax loophole that benefits hedge fund managers and others - but his tax plan offers other goodies to Wall Street financiers, a nonpartisan tax research group said on Tuesday.

11 Oct 2016

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Wall Street stocks slide, dollar hits 8-month high

 

NEW YORK Slumping crude prices and a dour start to Wall Street's corporate earnings season pulled down U.S. and European equities on Tuesday, while the dollar hit an eight-month high on increasing bets U.S. interest rates will rise in December.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

Hammond slammed over 'independence' claims for infrastructure quango

 

Critics have described the announcement as a sham since executive agencies are not considered to be independent of government departments

 

 

 

 

 

Unilever boss says Tesco Marmite row will be 'resolved soon'

 

 

 

 

 

 

 

 

 

 

'Man Tax' - New York pharmacy charges men 7% more than women

 

Policy sparks online outrage and accusations of 'reverse sexism'

 

 

 

 

 

 

Housing market picks up for first time since Brexit vote

 

 

 

 

 

 

Insurers playing cynical game over whiplash as Government mulls reform

 

 

 

 

 

 

Marmite shortage prompts £100,000 listings on eBay

 

Tesco has pulled Marmite and other products from its website after Unilever demanded a 10% increase in price

 

 

 

 

 

 

 

 

 

Tesco and Unilever shares tumble as price row takes its toll

 

Other supermarkets are also suffering from the fallout.

 

 

 

 

 

 

New £5 note to sell for more than £80,000

 

More than 100 people have bid on the £5 with an AK47 serial number

 

 

 

 

 

 

 

 

Tesco vs Unilever: The Retail Rumble in the Jungle sponsored by Brexit

 

Unilever products are disappearing from the supermarket’s shelves after the supplier tried to impose price increases. Brexit is to blame

 

 

 

 

 

 

Sports Direct finance boss resigns – three weeks after chief executive

 

News comes after the pound flash crash wiped £15m off the company’s profits last week.

 

 

 

 

 

Unilever increases sales despite Tesco dispute

 

 

 

 

 

Tesco running out of Marmite and PG Tips amid Brexit price row

 

 

 

 

 

 

Wells Fargo chief steps down amid sales scandal

 

The bank was recently fined $185m by Californian and federal regulators over its sales practices

 

 

 

 

 

 

 

 

McDonald's limits Ronald McDonald appearances amid 'clown scare'

 

The phenomenon started in the US but has spread to other parts of the world

 

 

 

 

 

 

The best paid part-time jobs have been revealed

 

There is no need to work long hours to earn a decent living in these careers.

 

 

 

 

 

 

 

Sterling loses almost 1% of value against dollar as Brexit debated

 

The pound lurched back below $1.22 as the government outlined its Brexit strategy

 

 

 

 

 

Alaska/Virgin America deal has 57 per cent chance - analyst

 

 

 

 

 

Passporting negotiations will be 'painstaking', says BoE top official

 

 

 

 

 

 

Lloyds Bank: Can service be sustained after another round of layoffs?

 

Customers are increasingly banking online or over the telephone, but banks like Lloyds still need to demonstrate they have the capacity to effectively look after them as they swing the axe

 

 

 

 

 

 

 

Airbus, Brexit, BP: Business News in Brief Wednesday 12 October

 

Plane maker in national security dispute, more bosses warn of Brexit exodus, BP scraps Australia drilling plans.

 

 

 

 

 

Value of trade-weighted pound sterling slumps to historic new low

 

 

 

 

 

Lloyds Bank to cut 1,230 jobs

 

 

 

 

 

 

Small businesses optimistic post Brexit. Here's why that won't last

 

Lack of skilled staff rated as the biggest impediment to growth

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monarch airline saved at last minute with £165m rescue deal

 

The investment from Greybull Capital will keep airline in business and save thousands of holidays.

 

 

 

 

 

A leading Brexiteer said the pound's record slump is good for Britain

 

 

 

 

 

Sterling, terrorism and competition: the challenges for Monarch

 

 

 

 

 

 

Samsung slashes profit forecast by £2 billion amid Note 7 nightmare

 

Flaming smartphones fiasco has already wiped billions off tech giant's value - now earnings forecast cut by a third.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sterling rebounds after completing worst performance since Brexit

 

The pound is still around 5% weaker than before the Conservative Party conference, where Theresa May promised to trigger article 50 within six months

 

 

 

 

 

 

 

 

Russian Bank VTB quits London. But will others follow?

 

It's hardly a household name but there are a lot of banks like this in London, they emply a lot of people, who pay a lot of tax, and they will be gone if the Government opts for a hard Brexit

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

 

Goldman’s Online Lender, Marcus, Opens (to Those With the Code)

 

By NATHANIEL POPPER

 

Named for Goldman’s founder, Marcus will offer loans to the general public. But initially applications will be limited to people who receive a special code in the mail.

 

Working Lives

 

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Pastry Chefs Are in Demand. Why Aren’t Wages Rising?

 

By NOAM SCHEIBER

 

The demand for people who are practiced in dessert-making is increasing, but the wages of pastry chefs have not kept pace. Restaurants are hiring dessert makers they can train.

 

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Uber Drivers Ruled Eligible for Jobless Payments in New York State

 

By NOAM SCHEIBER

 

The decision could raise costs and challenge the business model of Uber, Lyft and other companies in what is known as the gig economy.

 

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Writer for People Magazine Describes Forced Kiss by Trump

 

By CHRISTINE HAUSER 1:07 PM ET

 

Natasha Stoynoff described the 2005 encounter in an article on the magazine’s website. Mr. Trump denied her story on Twitter.

 

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Trump Threatens to Sue The Times Over Article on Unwanted Advances

 

By ALAN RAPPEPORT 11:28 AM ET

 

A lawyer for Mr. Trump denied the allegations of inappropriate touching made by two women in an article on Thursday in The New York Times.

 

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Wells Fargo Chief Abruptly Steps Down

 

By MICHAEL CORKERY and STACY COWLEY

 

He has been mired in a scandal involving sham accounts set up by bank employees. The bank’s president will succeed him.

 

Common Sense

 

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For John Stumpf, the Buck Stopped Where It Should Have

 

By JAMES B. STEWART

 

The resignation of Wells Fargo’s chief executive is an all-too-rare example of corporate governance working the way it should.

 

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In City Built by Immigrants, Immigration Is the Defining Political Issue

 

By BINYAMIN APPELBAUM

 

Many residents of Hazleton, Pa., who are losing ground, including Democrats, back Mr. Trump. Many who are prospering, including Republicans, support Clinton.

 

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Deutsche Bank Is Said to Begin Companywide Hiring Freeze

 

By CHAD BRAY 2:05 PM ET

 

The bank, whose stock price has declined more than 50 percent, is seeking to move forward with a plan to reduce costs and improve profitability.

 

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Galaxy Note 7 Is Not Samsung’s Only Problematic Product

 

By BRIAN X. CHEN and CHOE SANG-HUN

 

The South Korean manufacturer is juggling safety problems with other goods, including washing machines, microwaves and refrigerators.

 

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Snap’s I.P.O. Bankers Also Helped Bring Alibaba to Market

 

By MICHAEL J. de la MERCED 1:24 PM ET

 

Snapchat’s parent has hired two of the banks that worked on the $25 billion market debut of the Alibaba Group, the biggest I.P.O. on record.

 

 

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A 44% Pay Divide for Female and Male Law Partners, Survey Says

 

By ELIZABETH OLSON

 

Male partners either bring in more big cases or get more credit for doing so, according to a survey from a legal research firm.

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Tesco and Unilever end price dispute

 

 

 

 

The BBC understands Unilever gave some ground to resolve issues affecting the supply of leading brands including Marmite to Tesco.

 

  • 13 October 2016
  • From the section Business

 

 

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Young could get early access to pension

 

Early access to a state pension for those who start work at 16 or who work in manual jobs is among suggestions made to an official review.

 

  • 13 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: Wall Street recovers after touching three-month low

 

S&P 500 and Dow Jones indexes dragged down by weak China date; FTSE 100 closes down 0.7%; Latest on the Tesco-Unilever resolution.

 

 

 

 

 

 

MPs to vote on Philip Green knighthood

 

 

 

£250,000 prize offered for roads solution

 

  • 13 October 2016
  • From the section Business

 

 

Sports Direct finance boss steps down

 

  • 13 October 2016
  • From the section Business

 

 

 

 

 

Home buyers 'back after Brexit jitters'

 

  • 13 October 2016
  • From the section Business

 

 

HMRC steps in to sort out tax credits

 

  • 13 October 2016
  • From the section Business

 

 

Biggest business rate payers identified

 

  • 13 October 2016
  • From the section Business

 

 

Louis Vuitton handbags 'cheapest in London'

 

  • 13 October 2016
  • From the section Business

 

 

What does Uber's employment case mean?

 

  • 12 October 2016
  • From the section Business

 

 

New compensation for 15-minute rail delays

 

  • 13 October 2016
  • From the section UK

 

 

 

 

Features & Analysis

 

 

 

Brand repair

 

How can a company repair a damaged reputation?

 

  • 13 October 2016
  • From the section Business

 

 

 

 

 

Hedge your bets

 

Should I change my pounds to dollars now?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Sterling near record low as court hears Brexit vote was just "advisory"

 

LONDON Sterling traded close to a record low in trade-weighted terms on Thursday, kept under heavy pressure by worries that Britain will undergo a "hard Brexit" that will sever ties with Europe's single market.

5:56pm BST

Tesco, Unilever settle prices row after pound's Brexit dive

 

LONDON Britain's biggest retailer, Tesco, settled a pricing row with Unilever after halting online sales of goods produced by the Anglo-Dutch giant in a dispute caused by a plunge in the pound since Britons voted to leave the EU.

7:19pm BST

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FTSE hit by mining share losses, Unilever versus Tesco row

 

LONDON Britain's top share index slipped to its lowest level in more than a week on Thursday, just days after setting a record high, with basic-resources stocks selling off as metals prices fell following poor China trade data.

5:00pm BST

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Top William Hill investor Parvus rejects any Amaya deal

 

LONDON A leading investor in British betting company William Hill , Parvus Asset Management, said it would oppose any reverse takeover of Canadian firm Amaya , given its "limited strategic logic".

7:27pm BST

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Verizon believes Yahoo email hacking 'material,' could affect deal

 

WASHINGTON Verizon Corp's general counsel, Craig Silliman, said on Thursday the company has a "reasonable basis" to believe that Yahoo Inc's massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo.

7:41pm BST

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Wells Fargo complaints show flaws in federal whistleblower program

 

WASHINGTON Former Wells Fargo & Co general manager Claudia Ponce de Leon filed a whistleblower complaint in December 2011 with federal labor regulators, alleging she was fired for telling superiors about employees opening unauthorised accounts.

7:06pm BST

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As pound tumbles, UK faces sharp return of inflation

 

LONDON Prices are going to rise in Britain. The only question now is by how much.

2:54pm BST

Fed's Harker says might want to delay policy changes until after U.S. election

 

PHILADELPHIA The Federal Reserve might want to hold off on policy changes until after the U.S. presidential election on Nov. 8, Philadelphia Fed President Patrick Harker said on Thursday.

7:22pm BST

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Samsung offers financial incentives to stem Note 7 bleeding

 

SEOUL Samsung Electronics on Thursday offered refunds or financial incentives for U.S. and South Korea customers who exchange Note 7s for other products, as the tech giant scrambles to shore up its reputation after a damaging phone safety crisis.

7:10pm BST

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Almost 30 percent of Sky shareholders oppose James Murdoch as chairman

 

LONDON Almost 30 percent of voting shareholders at Sky opposed the appointment of James Murdoch as chairman of the European pay TV group on Thursday, with some saying he was too closely linked to the group's largest investor, owned by his father Rupert.

Shoppers turn anger on Unilever in its dispute with Tesco

 

BASILDON, England The mood among shoppers was resolute at the Tesco superstore in this town east of London on Thursday after Britain's biggest supermarket chain halted sales of top-selling Unilever brands online.

6:11pm BST

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German court rejects bid to block Canada-EU trade deal, Trudeau impatient

 

BERLIN/OTTAWA Germany's Constitutional Court cleared the government on Thursday to approve a free trade accord between the European Union and Canada under defined conditions, boosting the agreement's chances of passing an EU vote next week.

6:07pm BST

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Sterling near record low as court hears Brexit vote was just "advisory"

 

LONDON Sterling traded close to a record low in trade-weighted terms on Thursday, kept under heavy pressure by worries that Britain will undergo a "hard Brexit" that will sever ties with Europe's single market.

5:56pm BST

FCA takes "London Whale" identification case to Supreme Court

 

LONDON Britain's markets watchdog and a former JPMorgan executive on Thursday took their legal battle over alleged improper identification to the UK's highest court in a case that could limit details published by the regulator when it fines banks.

5:52pm BST

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Oil prices steady; product draws offset U.S. crude build

 

NEW YORK Oil prices steadied on Thursday, as a U.S. government report of larger-than-expected draws in diesel and gasoline helped prices rebound from losses incurred when data showed the first crude inventory build in six weeks was much larger than expected.

5:38pm BST

Gulf Keystone beefs up board under new shareholder structure

 

LONDON Gulf Keystone Petroleum has appointed two new board members following the completion of its debt-for-equity swap with bondholders, beefing up its leadership team as it shifts from survival to growth.

5:11pm BST

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FTSE hit by mining share losses, Unilever versus Tesco row

 

LONDON Britain's top share index slipped to its lowest level in more than a week on Thursday, just days after setting a record high, with basic-resources stocks selling off as metals prices fell following poor China trade data.

5:00pm BST

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Old problems overshadow new era at Wells Fargo

 

NEW YORK The Tim Sloan era has begun at Wells Fargo but the old problems remain.

4:59pm BST

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It's lonely at the top for FTSE 100 index

 

LONDON As sterling plumbs the depths, foreign investors are withdrawing from British stocks and leaving domestic funds to push the benchmark bluechip index to record highs - for now.

4:43pm BST

Oil traders increase risky lending even as some deals go bad

 

LONDON Trading houses' lending to distressed producers and refiners is booming and cheaper than ever even though many are owed hundreds of millions of dollars after the collapse of some risky pre-financing deals.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

EnQuest CEO pledges own cash to clinch restructuring deal

 

LONDON The chief executive of EnQuest has pledged to buy up to $50 million (40.98 million pounds) worth of new shares in the North Sea oil producer, a move that clinched a broader restructuring deal for the company struggling with mounting debt.

4:26pm BST

PIMCO's Amey says rise in UK government bond yields nearly over

 

LONDON One of the world's biggest bond funds said on Thursday that a recent rise in UK government bond yields, which have almost doubled in the last six weeks, had mostly run its course.

4:24pm BST

Trump's Scottish golf courses post more losses

 

LONDON Donald Trump’s two Scottish golf courses continued to suffer losses last year, accounts filed in Britain show, highlighting the challenge the U.S. presidential candidate has in making a return on his substantial investments there.

4:17pm BST

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U.S. jobless claims at 43-year low; import price deflation easing

 

WASHINGTON The number of Americans filing for unemployment benefits held at a 43-year low last week, pointing to sustained labour market strength that could pave the way for the Federal Reserve to raise interest rates in December.

4:09pm BST

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Chelsea agree long-term kit deal with Nike

 

LONDON Chelsea announced on Thursday a long-term partnership with Nike from next year in a deal that media reports suggested could be worth 60 million pounds a season.

3:45pm BST

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EU failure to sign Canada deal would send wrong message - Trudeau

 

OTTAWA If the European Union does not approve a landmark free trade deal with Canada, the world will realise the 28-nation bloc is heading down the wrong path, Canadian Prime Minister Justin Trudeau said on Thursday.

3:34pm BST

Mercuria sees oil sector going digital with blockchain

 

LONDON The traditionally old-fashioned oil and gas industry could start adopting the technology behind the bitcoin electronic currency within the next year, according to one of the world's largest commodity traders.

3:19pm BST

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Plunging pound and threats put EU farm workers off the UK

 

SUCKLEY, England For the last 18 years, Jerzy Kwapniewski has left his home in Poland to spend the summer months picking apples and hops on a farm in central England. He plans to look for work in Germany next year.

3:11pm BST

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EU appeals against WTO ruling in dispute over Airbus subsidies

 

BRUSSELS The European Union launched an appeal on Thursday against a World Trade Organization (WTO) panel finding last month that it had failed to rein in billions of dollars of subsidies to planemaker Airbus .

As pound tumbles, UK faces sharp return of inflation

 

LONDON Prices are going to rise in Britain. The only question now is by how much.

2:54pm BST

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ECB to keep policy steady in October; extend, tweak QE in December - Reuters poll

 

A stable but lacklustre economic outlook will push the European Central Bank to tweak its asset purchase programme and announce an extension by year-end, although economists polled by Reuters said a move was unlikely next week.

2:45pm BST

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Irish annual inflation flat in September

 

DUBLIN Irish consumer prices were unchanged in September from a year earlier, data showed on Thursday, as inflation remained stubbornly low despite strong economic growth.

2:26pm BST

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Dollar curbs, tough marketing crimp Iran oil deals - traders

 

LONDON Nine months after sanctions on Iran were lifted, some of the world's biggest traders have yet to strike major oil deals with the OPEC member, stymied by Tehran's tough stance on marketing its crude and restrictions on dollar trades.

2:16pm BST

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Deutsche Bank puts freeze on hiring: source

 

FRANKFURT Deutsche Bank has put a freeze on hiring new staff, a source familiar with the matter told Reuters on Thursday, amid investor fears that a pending U.S. fine could cripple the bank.

2:08pm BST

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EU investment plan may have no added value, auditors say

 

BRUSSELS The European Union investment plan, its flagship project to relaunch the bloc's sluggish economy, may have produced no added value, because private investment made through the plan might have been made anyway, EU auditors said on Thursday.

2:03pm BST

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Retailer price rises are a commercial decision - May's spokeswoman

 

LONDON How retailers respond to the fall in sterling since Britain's June vote to leave the European Union is a commercial decision, British Prime Minister Theresa May's spokeswoman said on Thursday.

12:01pm BST

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Idemitsu indefinitely delays Showa Shell takeover on founding family opposition

 

TOKYO Japanese refiners Idemitsu Kosan Co Ltd and Showa Shell Sekiyu said on Thursday they were delaying a planned integration indefinitely, putting in serious doubt a deal that has been fiercely opposed by the Idemitsu founding family.

11:30am BST

Engineer Renishaw to discontinue operations at diagnostics unit

 

Precision engineering group Renishaw Plc said it would discontinue operations at its diagnostics unit as it had not received any acceptable offers, and said 33 staff would be made redundant.

11:26am BST

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Britain's WH Smith looks to squeeze suppliers to offset forex hit

 

Britain's WH Smith Plc said it will lose its protection against a weaker pound next year and is looking to offset the impact by consolidating factories and negotiating better prices with suppliers to cut its costs.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Disappointing China trade data spurs fears recovery may be faltering

 

BEIJING China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.

10:24am BST

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Sky says customer demand picking up after slow summer

 

LONDON European pay-TV group Sky reported a 5 percent rise in underlying revenue in its first quarter, in line with its expectations in a year when it is paying substantially more for the premium soccer and entertainment content it offer viewers.

10:22am BST

Germany's Gabriel says court ruling clears way for EU-Canada trade deal

 

BERLIN A ruling by Germany's Constitutional Court allowing the government to back an EU-Canada trade deal is pleasing and paves the way for Europe to shape the rules of globalisation, Economy Minister Sigmar Gabriel said on Wednesday.

10:17am BST

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Kenya Airways halves loss, urges pilots to halt strike

 

NAIROBI Kenya Airways urged pilots to call off a strike planned for next week as it halved its pretax loss to 5 billion shillings ($49.4 million) over the past six months thanks to a recovery in passenger numbers.

10:03am BST

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French finance minister eyes U.S. bank exodus from London

 

PARIS It is inevitable that big U.S. banks will move activities from London in the coming years following Britain's decision to leave the European Union, French Finance Minister Michel Sapin said on Thursday.

9:39am BST

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House prices rise for second month in September, London weak - RICS

 

LONDON British house prices rose for a second month in September and enquiries from buyers picked up for the first time since February, suggesting the housing market has weathered the initial shock of the Brexit vote, a survey showed.

9:25am BST

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Foreign investors sue Toshiba over accounting scandal

 

TOKYO A group of investors, mostly foreign institutions, are suing Toshiba Corp in a Tokyo court for 16.7 billion yen (133.40 million pounds) in damages, over a $1.3 billion accounting scandal uncovered last year.

9:11am BST

Silver miner Hochschild raises full-year production forecast

 

Precious metals miner Hochschild Mining Plc raised its full-year production forecast for a second time this year on Thursday, citing better-than-expected performance at its Inmaculada and Arcata mines in Peru.

9:07am BST

Hargreaves Lansdown warns on investor confidence, shares drop

 

LONDON British investment company Hargreaves Lansdown said new business growth slowed in the three months to end-September, taking the shine off a record quarter for assets and profits.

8:58am BST

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Price rises help Unilever top sales forecasts but spark Tesco row

 

LONDON Price increases at Unilever, which have sparked a row with British supermarket Tesco, helped the maker of Ben & Jerry's ice cream and Dove soap report a smaller-than-expected slowdown in third-quarter sales on Thursday.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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BOJ likely to cut inflation forecasts, wary of easing - sources

 

TOKYO The Bank of Japan is likely to slightly cut next fiscal year's inflation forecast in a quarterly review, sources familiar with its thinking say, but the central bank isn't expected to ease in the near term after having revamped its policy framework only last month.

8:13am BST

Unilever CFO says price increases are normal

 

LONDON Unilever Chief Financial Officer Graeme Pitkethly said price increases taken to offset rising costs are a normal part of doing business, but he declined to comment specifically on a row with Tesco

7:58am BST

UK's Arbuthnot warns of post-Brexit rate cut hit to bank margin

 

Arbuthnot Banking Group Plc warned on Thursday the net interest margin at its commercial banking unit would fall in the short term due to the Bank of England's base rate cut following Britain's vote to leave the European Union in June.

7:44am BST

Japan's Fukoku to stick to 'open foreign bonds' in second half on rising hedging costs

 

TOKYO Fukoku Mutual Life Insurance will continue to invest in foreign bonds without currency hedging in the second half of the current fiscal year due to rising dollar hedging costs, a senior company official said, just as it did in the first half.

7:33am BST

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Sports Direct CFO to follow CEO out the door

 

LONDON Sports Direct said its chief financial officer had quit to take up a new job, the second management change in less than a month at the British retailer which is trying to mend its battered image.

7:27am BST

Jupiter gets third quarter market boost as assets under management rise 9 percent

 

LONDON Jupiter Fund Management posted a nine percent rise in assets under management in the third quarter on Thursday, helped by market and currency movements.

7:24am BST

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E.ON considers power grids spin-off, capital hike - WirtschaftsWoche

 

FRANKFURT German utility E.ON is considering spinning off at least part of its power grids or raising capital to offset falling grid fees, a pending payment for radioactive storage and possible writedowns, a German magazine reported.

7:18am BST

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Wanda's Wang defends top spot in China rich list

 

SHANGHAI Chinese property magnate Wang Jianlin has defended his crown as the country's richest man, according to the annual Hurun rich list, fending off Alibaba Group Holding Ltd founder Jack Ma and new players on the block like Baoneng's Yao Zhenhua.

7:14am BST

Mercuria boss says Brexit boosts London due to weak pound

 

LONDON The head of Geneva-based energy trader Mercuria said in the short term, Britain's planned exit from the European Union gives London the edge over Switzerland as a place to do business, as the drop in the pound has driven down running costs.

7:02am BST

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Austrian chancellor makes conciliatory noises on EU-Canada trade deal

 

VIENNA Austrian Chancellor Christian Kern said on Thursday many of his concerns about a free trade deal between the European Union and Canada had been addressed in an additional declaration, toning down his rhetoric days ahead of a vote on the deal in Brussels.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Samsung Vietnam says no cuts in jobs this year despite Note 7 woes

 

HANOI Samsung Vietnam will maintain its current staff numbers, the firm said on Wednesday, despite the parent company scrapping its flagship Galaxy Note 7 phone following a series of battery fires.

5:24am BST

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Wells Fargo's new CEO faces immediate test

 

NEW YORK Tim Sloan will not have much time to prepare his pitch for Wall Street.

5:08am BST

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Hanjin Shipping Asia-U.S. operations to be put up for sale as early as Friday

 

SEOUL The South Korean court overseeing Hanjin Shipping Co's receivership process plans to put the collapsed shipper's Asia-U.S. operations up for sale as early as Friday, a court spokesman said on Thursday.

3:32am BST

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Nortel settles fight to divvy up $7.3 billion from liquidation

 

Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.99 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait.

2:03am BST

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Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan

 

NEW YORK Wells Fargo & Co's veteran chairman and chief executive officer, John Stumpf, abruptly departed on Wednesday bowing to pressure over its sales tactics that has damaged the bank's reputation and put Wall Street under renewed scrutiny.

2:01am BST

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Samsung Electronics shares rise for first time in four days

 

SEOUL Samsung Electronics Co Ltd shares opened up 1 percent on Thursday, rebounding for the first time after three straight days of falls following its decision to permanently end sales of its fire-prone Galaxy Note 7 smartphones.

1:57am BST

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Britain lacks policies to meet emissions targets – government advisers

 

LONDON Britain lacks the policies needed to achieve its domestic emissions targets, and should by February set out new plans to meet them, the government's climate advisers said on Thursday.

12:25am BST

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Sterling bounces off record trade-weighted low as MPs flex Brexit muscles

 

LONDON Sterling rebounded from a record low in trade-weighted terms on Wednesday after Britain's prime minister said she would give lawmakers some scrutiny of the Brexit process and would seek "maximum possible access" to Europe's single market.

12:16am BST

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Snapchat picks Morgan Stanley, Goldman to lead IPO - sources

 

U.S. photo-sharing app Snapchat has chosen Morgan Stanley and Goldman Sachs Group Inc as lead underwriters for an initial public offering that could come as early as March, a source familiar with the situation said on Wednesday.

12:16am BST

KKR battling over Brazil acquisition with sellers, bank - sources

 

SAO PAULO KKR & Co LP's ill-fated takeover of a Brazilian data center provider has embroiled the private equity firm in a battle with the sellers in the deal as well as a key lender as it struggles to unwind the transaction on its own terms.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Ryanair reduces the check-in window for ‘basic’ fare passengers

 

Those on a one-week holiday will now have to get internet access during their trip

 

 

 

 

 

Life will 'get difficult' for the poor due to inflation says Carney

 

 

 

 

 

 

 

 

 

 

Pound sterling could be 'worth less than a dollar within three years'

 

Rogers, who co-founded the Quantum Fund with George Soros, said the UK is facing serious problems

 

 

 

 

 

 

Thousands of Asda workers win major step in equal pay claim battle

 

 

 

 

 

 

'Flash crash' trader to be extradited after losing appeal

 

 

 

 

 

 

MPs blast Southern Railway as guards say dispute is not about doors

 

Mismanagement, staffing and a lack of disabled access are all criticised in a report that serves as an indictment of rail privatisation

 

 

 

 

 

 

 

 

Saudi Arabia set to become world's biggest tech investor

 

Kingdom teams up with Japanese conglomerate that made billions from Yahoo and Alibaba.

 

 

 

 

 

 

Marmite-gate is over. The real Brexit battle will be harder to settle

 

Tesco took Unilever’s brands off its shelves after Unilever tried to force price rises through, blaming Brexit. They’ve now compromised but it's hard to see the EU doing the same with the UK’s hardline Brexiteers

 

 

 

 

 

 

 

 

Pound sterling' could lose its reserve currency status'

 

Standard & Poor’s stripped Britain of its AAA status immediately after the Brexit vote in June

 

 

 

 

 

 

Sir Philip Green could be stripped of his knighthood next week

 

It will be the first time MPs have voted on whether to annul an honour.

 

 

 

 

 

Verizon hints it could back out of £4bn Yahoo takeover after hack

 

 

 

 

 

Samsung, Sky, WH Smith: Business news in brief, Friday 14 October

 

 

 

 

 

 

US banks are planning exodus from the UK, French minister says

 

Theresa May has promised to trigger Article 50 of the EU treaty to begin the two-year exit process by next March

 

 

 

 

 

 

 

 

Marmite supply row resolved with Tesco, Unilever says

 

Issues surrounding the supply of Marmite and other leading brands to Tesco has been resolved and the items are once again "fully available", Unilever has said.

 

 

 

 

 

 

'Man Tax' - New York pharmacy charges men 7% more than women

 

Policy sparks online outrage and accusations of 'reverse sexism'

 

 

 

 

 

 

 

Housing market picks up for first time since Brexit vote

 

Surveyors predict a house price rise over the next three months as the number of homes on agents’ books remains at historic lows

 

 

 

 

 

Insurers playing cynical game over whiplash as Government mulls reform

 

 

 

 

 

Hammond slammed over 'independence' claims for infrastructure quango

 

 

 

 

 

 

Unilever boss says Tesco Marmite row will be 'resolved soon'

 

Graeme Pitkethly said price increases are a 'normal' part of doing business

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Wells Fargo Needs to Make a Clean Break With the Past

 

By GRETCHEN MORGENSON 2:01 PM ET

 

Critics say Timothy J. Sloan, the new chief executive, is not the person the bank needs to overhaul its system after the fraudulent accounts scandal.

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Eric Thayer/Bloomberg

 

Wells Fargo employees opened roughly 1.5 million bank accounts and applied for 565,000 credit cards that may not have been authorized by their customers, regulators said.

 

 

 

 

 

 

 

 

 

 

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Salesforce Rules Out a Bid for Twitter

 

By MICHAEL J. de la MERCED 1:40 PM ET

 

Twitter shares tumbled as few deal-making options remained.

 

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Goldman Sachs Didn’t Trick Libyan Fund, Judge Says

 

By CHAD BRAY 10:42 AM ET

 

The Libyan Investment Authority claimed that Goldman Sachs exploited its financial naïveté and pushed it into transactions that cost it $1.2 billion in losses.

 

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Wells Fargo’s New Boss Is Same as the Old Boss to Congress

 

By MICHAEL CORKERY and STACY COWLEY

 

Critics were dismissive of Timothy J. Sloan’s ability to shift course, though analysts were inclined to give him the benefit of the doubt.

 

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Verizon Says Yahoo Hack Could Reopen $4.8 Billion Deal Talks

 

By VINDU GOEL and NICOLE PERLROTH

 

Verizon’s top lawyer said the hacking of 500 million Yahoo email accounts, made public after the deal was announced, could justify reopening sale discussions.

 

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Obama, Cementing New Ties With Cuba, Lifts Limits on Cigars and Rum

 

By JULIE HIRSCHFELD DAVIS 1:12 PM ET

 

In a sweeping directive, President Obama pressed forward in the face of lingering opposition in Congress to repealing the Cold War trade embargo.

 

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Partisan Crowds at Trump Rallies Menace and Frighten News Media

 

By NICK CORASANITI 12:39 PM ET

 

Donald J. Trump’s criticism of the news media seems to have spurred shouts of obscenities and obscene gestures aimed at the news media by his supporters.

 

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‘Apprentice’ Producer Denounces Trump but Won’t Release Possibly Damning Tapes

 

By MICHAEL M. GRYNBAUM and RACHEL ABRAMS

 

Mark Burnett, who says he has no legal right to release unaired footage from the reality show as many have requested, said in a statement he was “NOT pro-Trump.”

 

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Samsung Predicts $3 Billion Hit to Future Profits After Pulling Galaxy Note 7

 

By CHOE SANG-HUN

 

The reduction in profits tied to cancellation of the model was expected to be in the mid-2 trillion won range in the October-December period, the company said.

 

Working Lives

 

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Creating a Pastry Chef From Scratch

 

By NOAM SCHEIBER

 

The demand for people who are practiced in dessert-making is increasing, but the wages of pastry chefs have not kept pace. Restaurants are hiring dessert makers they can train.

 

 

 

 

Bank Earnings

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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Share on other sites

Bank governor says inflation will rise

 

 

 

 

Bank of England governor Mark Carney says prices will rise on products such as food because of the fall in sterling.

 

  • 14 October 2016
  • From the section Business
  • comments

 

 

Related content

 

 

 

 

 

 

 

 

'Flash crash' trader to be extradited

 

The UK trader accused of contributing to the 2010 "flash crash" in the US loses his battle against extradition to the US.

 

  • 14 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: Wall Street ticks up on Yellen remarks

 

Wall Street up after Yellen's "high pressure" speech; Twitter shares fall as Salesforce rules out bid; RBS says 'computer glitch resolved'.

 

 

 

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Redress for thousands mis-sold annuities

 

  • 14 October 2016
  • From the section Business

 

 

Nissan boss meets PM over Brexit fears

 

 

 

Salesforce rules out Twitter bid

 

  • 14 October 2016
  • From the section Business

 

 

 

 

 

RBS 'resolves debit card problems'

 

  • 14 October 2016
  • From the section Business

 

 

Step forward in Asda workers' pay claim

 

  • 14 October 2016
  • From the section Business

 

 

Libya Goldman Sachs claim thrown out

 

  • 14 October 2016
  • From the section Africa

 

 

Jim O'Neill: Still bullish on Brics

 

  • 14 October 2016
  • From the section Business

 

 

Tesco and Unilever end price dispute

 

  • 13 October 2016
  • From the section Business

 

 

Wells Fargo profits hit by legal costs

 

  • 14 October 2016
  • From the section Business

 

 

 

 

Also in the News

 

 

 

Chelsea signs £900m Nike kit deal

 

  • 14 October 2016
  • From the section Business

 

 

 

 

Snapchat moves closer to share flotation

 

  • 14 October 2016
  • From the section Business

 

 

 

 

Features & Analysis

 

 

 

The business of hedging

 

Hedging is vital to companies - but what exactly is it?

 

  • 14 October 2016
  • From the section Business

 

 

 

 

 

A potted history of Marmite

 

What is the story behind this most British of brands?

 

  • 14 October 2016
  • From the section England

 

 

 

 

 

Lights, camera... cloud

 

How small special effects studios can compete with Hollywood giants

 

  • 14 October 2016
  • From the section Business

 

 

 

 

 

 

 

Big bonanza

 

Was India's tax evasion amnesty a success?

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

BoE's Carney pushes back against criticism from May

 

BIRMINGHAM, England Bank of England Governor Mark Carney hit back at criticism from British Prime Minister Theresa May of the central bank's low interest rates, saying on Friday that he would not "take instruction" from politicians on how to do his job.

6:12pm BST

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Tesco gets PR and share price boost from battle with Unilever

 

LONDON Tesco appeared to emerge victorious from a pricing row with Unilever on Friday, with its shares rising 5 percent and analysts saying Britain's biggest retailer had scored a public relations coup by casting itself as the consumer's champion.

5:12pm BST

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Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall St.

 

NEW YORK JPMorgan Chase and Citigroup trounced third-quarter estimates on Friday on a sharp rebound in trading revenues while Wells Fargo & Co barely beat expectations as a sales scandal engulfed the bank.

6:26pm BST

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Oil dips on dollar, rig count rise; focus still on OPEC

 

NEW YORK Oil prices fell slightly on Friday as traders balanced a stronger dollar and another increase in the U.S. oil rig count against expectations that more OPEC talk of output cuts will keep crude above $50 per barrel.

8:22pm BST

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Stocks, dollar rebound on Chinese, U.S. data

 

NEW YORK Global stocks and the dollar rebounded on Friday from losses a day earlier, buoyed by a surprising rise in Chinese producer prices and U.S. economic data that bolstered expectations the Federal Reserve would raise interest rates in December.

8:15pm BST

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Salesforce CEO says company will not bid for Twitter

 

Salesforce.com Inc's chief executive, Marc Benioff, said he has ruled out bidding for Twitter Inc , a decision that appeased Salesforce's investors on Friday and raised questions about Twitter's future.

7:43pm BST

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Fed's Yellen says 'high-pressure' policy may be only way back from crisis

 

BOSTON The Federal Reserve may need to run a "high-pressure" economy in order to reverse damage from the crisis that depressed output, sidelined workers and risks becoming a permanent scar, Fed Chair Janet Yellen said in a broad review of where the recovery may still fall short.

8:13pm BST

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Boeing names new sales chief as John Wojick plans to retire

 

Boeing Co announced the new sales chief for its commercial airplanes division on Friday as the U.S. planemaker and Europe's Airbus battle over dwindling jet orders.

7:09pm BST

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Exclusive - Deutsche Bank considers thousands more job cuts: source

 

FRANKFURT Deutsche Bank's finance chief told staff representatives last month that job cuts at the bank could be double that planned, a step that could remove 10,000 further employees, a person with direct knowledge of the matter told Reuters.

6:54pm BST

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UK economy doing better than expected - Bank Of England's Carney

 

LONDON Bank of England Governor Mark Carney said on Friday the British economy had performed a bit better than the central bank expected and the BoE would also have to take inflation considerations into account.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall St.

 

NEW YORK JPMorgan Chase and Citigroup trounced third-quarter estimates on Friday on a sharp rebound in trading revenues while Wells Fargo & Co barely beat expectations as a sales scandal engulfed the bank.

6:26pm BST

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Strong auto purchases lift U.S. retail sales; inflation stirring

 

WASHINGTON U.S. retail sales rebounded in September amid a surge in motor vehicle purchases and rise in discretionary spending, pointing to solid demand that reinforces expectations of an interest rate increase from the Federal Reserve in December.

6:22pm BST

UK companies' FX hedging soars after Brexit vote, research firm says

 

LONDON Britain's vote to leave the European Union sparked a doubling of currency hedging by small UK businesses, with more than half now using forward or options contracts to protect themselves from moves in the pound, industry research showed on Friday.

6:16pm BST

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BoE's Carney pushes back against criticism from May

 

BIRMINGHAM, England Bank of England Governor Mark Carney hit back at criticism from British Prime Minister Theresa May of the central bank's low interest rates, saying on Friday that he would not "take instruction" from politicians on how to do his job.

6:12pm BST

Private equity firms line up bids for BSN Medical - sources

 

FRANKFURT BC Partners, Blackstone and CVC [CVC.UL] are among the private equity firms expected to make non-binding bids on Monday for German bandage and plaster cast maker BSN Medical, several people close to the matter said.

6:01pm BST

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Microsoft seeks EU approval for LinkedIn buy

 

FLORENCE, Italy Microsoft sought EU antitrust approval on Friday for its $26 billion bid for social network LinkedIn, a spokesman said on Friday, kicking off a month-long review by regulators of its largest deal.

5:39pm BST

Exclusive - Russia may borrow in yuan this year for first time

 

MOSCOW Russia may borrow Chinese yuan for the first time ever by the end of 2016, a Russian finance ministry official said, a step towards Moscow's ambition of using Asian credit markets to compensate for its limited access to Western funding.

5:38pm BST

Investors pin hopes on autos and oil in bleak outlook for European earnings

 

LONDON Europe Inc's unimpressive performance on earnings over the last five years is expected to continue at least until the end of 2016 as worries over banks and the impact of the Brexit vote weigh on corporate profits.

5:26pm BST

EU-Canada trade deal hits resistance in Belgian fortress Wallonia

 

NAMUR, Belgium The Belgian fortress city of Namur, besieged by European armies down the centuries, issued a declaration of war on the global economic order on Friday with a vote to reject a planned EU-Canada free trade agreement.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

RBS aware of debit card glitches for customers in Britain

 

LONDON Royal Bank of Scotland is aware some customers are experiencing problems using their debit cards across Britain, it said on Friday, in the latest apparent glitch to hit the bank's IT systems.

5:16pm BST

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Tesco gets PR and share price boost from battle with Unilever

 

LONDON Tesco appeared to emerge victorious from a pricing row with Unilever on Friday, with its shares rising 5 percent and analysts saying Britain's biggest retailer had scored a public relations coup by casting itself as the consumer's champion.

5:12pm BST

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VW group sales post biggest gain since April 2014

 

BERLIN Volkswagen's group sales rose 7.1 percent in September, the largest monthly gain in two-and-a-half years, powered by demand for VW brand cars in China and robust sales in Europe, it said on Friday.

5:08pm BST

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Oil down as dollar rallies, rise in U.S. rig count seen

 

NEW YORK Crude oil prices fell on Friday as a stronger dollar weighed on the market and as traders awaited an industry report that would determine if U.S. oil drillers were ramping up activity with prices holding above $50 a barrel.

5:08pm BST

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Nissan's Ghosn to make Brexit investment decision by end of year

 

LONDON Japan's Nissan will decide by the end of the year whether to build its new Qashqai SUV model at Britain's biggest car plant, a source told Reuters, after CEO Carlos Ghosn met Prime Minister Theresa May to seek reassurance over the impact of Brexit.

5:06pm BST

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Goldman Sachs wins $1.2 billion dispute with Libyan sovereign fund

 

LONDON A British court ruled on Friday in favour of Goldman Sachs in a $1.2 billion (0.98 billion pounds) dispute with Libya's $67 billion sovereign wealth fund over derivatives trades, dismissing claims that the investment bank had abused the fund's trust.

4:19pm BST

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Global stocks, dollar rebound on Chinese, U.S. data

 

NEW YORK Global stocks and the dollar rebounded on Friday from losses a day earlier, buoyed by a surprising rise in Chinese producer prices and strong U.S. economic data that bolstered expectations the Federal Reserve would raise interest rates in December.

4:18pm BST

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ECB rate meeting, Chinese GDP in focus

 

FRANKFURT European Central Bank President Mario Draghi will have a tricky task next Thursday: give just enough clues about the bank's next move but not fuel undue expectations that could perturb markets.

3:55pm BST

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ChemChina, Sinochem in talks on possible $100 billion merger - sources

 

BEIJING Chinese state-owned chemical companies Sinochem Group and ChemChina are in discussions about a possible merger to create a chemicals, fertiliser and oil giant with almost $100 billion (81.89 billion pounds) in annual revenue, three sources familiar with the matter said.

3:49pm BST

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Small number of UK insurers risk action over annuity sales

 

LONDON Britain's financial watchdog left the threat of penalties hanging over a "small number" of insurance firms on Friday for failures in the information on pensions provided to customers in poor health.

ChemChina, Syngenta ready to offer EU remedies over $43 billion deal - source

 

FLORENCE, Italy Chinese state-owned chemical company ChemChina and Swiss pesticides and seeds group Syngenta are prepared to offer concessions to EU antitrust regulators to ease concerns over their $43 billion (35.21 billion pounds) deal, a person familiar with the matter said on Friday.

3:28pm BST

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Scandal-hit Wells Fargo's quarterly profit falls 3.7 percent

 

NEW YORK Wells Fargo & Co's profit dropped for the fourth straight quarter as it set aside funds for potential legal costs from a bogus account scandal that cost former Chief Executive and Chairman John Stumpf his job.

3:22pm BST

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BoE's Carney after May criticism - we won't take instruction on policies

 

BIRMINGHAM Bank of England Governor Mark Carney said on Friday he would not "take instruction" from politicians about how the BoE follows its objectives, in an apparent rebuff to criticism from Prime Minister Theresa May of the BoE's low interest rate policies.

3:20pm BST

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Bank of England's Forbes - inflation could overshoot target "sharply"

 

WARSAW Bank of England policymaker Kristin Forbes said inflation in Britain could "sharply" overshoot the BoE's 2 percent target, partly due to measures announced by the central bank in August to offset the impact of the Brexit vote.

3:06pm BST

Fund manager Hermes calls on FTSE 350 firms to cap CEO pay

 

LONDON British fund manager Hermes Investment Management is calling on FTSE 350 companies to cap their chief executive's pay as part of efforts to restore public trust in the way companies are run.

3:04pm BST

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Equal pay case against supermarket Asda given go-ahead to proceed

 

LONDON Britain's no.3 supermarket chain Asda could be forced to pay out millions of pounds to workers after a group of employees were given the go-ahead to proceed with a claim against the chain, which is owned by Walmart .

3:03pm BST

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Citigroup beats profit expectations on bond trading comeback

 

Citigroup Inc , the fourth-biggest U.S. bank by assets, beat expectations for third-quarter net profit on Friday after trading revenue surged 35 percent.

2:57pm BST

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Viacom hires financial advisers to explore CBS merger

 

Viacom Inc said it had hired financial advisers as part of its review of a proposal by National Amusements Inc to explore a merger with CBS Corp .

2:56pm BST

Boston Fed's Rosengren - Market outlook for December hike appropriate

 

BOSTON Boston Federal Reserve President Eric Rosengren said on Friday that investors were probably right in placing "very high" odds on a U.S. interest rate increase in December, a step he argues is already overdue.

2:52pm BST

Accused UK "flash crash" trader to be extradited to U.S.

 

LONDON A London-based trader accused of contributing to the 2010 Wall Street "flash crash" by placing bogus orders to spoof the market lost his legal bid to stop extradition on Friday and will now be sent to the United States to face trial.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

Education publisher Pearson bets on online degrees

 

LONDON Natalie Hilton travels past her central London university every day, listening to lectures on the bus, studying towards a masters degree without ever setting foot on campus.

2:34pm BST

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Exclusive - Carmakers forced back to bigger engines in new emissions era

 

PARIS Tougher European car emissions tests being introduced in the wake of the Volkswagen scandal are about to bring surprising consequences: bigger engines.

2:33pm BST

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Nissan's key Brexit model decision due by year-end - source

 

LONDON Japanese carmaker Nissan is due to decide whether to build its next Qashqai sport utility vehicle model in Britain or elsewhere by the end of the year, a company source said, a key investment decision for post-Brexit Britain.

2:21pm BST

Austria says will not stand in way of EU-Canada trade deal

 

VIENNA Austria will not stand in the way of a trade agreement between the European Union and Canada, Austrian Chancellor Christian Kern said on Friday, removing a potential obstacle to the accord after suggesting he might block it.

2:09pm BST

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JPMorgan beats third-quarter forecast as trading roars back to life

 

JPMorgan Chase & Co beat forecasts for revenues and profits on Friday as global bond and currency markets roared back to life in the third quarter following Britain's vote to leave the European Union.

2:07pm BST

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Infosys cuts revenue outlook again as clients slow spending ahead of U.S. election, Brexit

 

MUMBAI/BENGALURU Infosys Ltd cut its annual revenue growth target for the second time in three months as India's software service exporters feel the pinch of major Western clients holding back on spending as they wait to see how November's U.S. presidential election and Europe's Brexit drama play out.

12:46pm BST

Ambrian to close metals trading business

 

LONDON UK-based commodities trading and logistics services company Ambrian Plc is planning to wind down its metals trading activities over the next few months due to an uncertain business environment in commodities, the company said on Friday. [nRSN5126Ma]

12:28pm BST

England to play Germany in March friendly

 

England will play world champions Germany in a friendly in Dortmund on March 22, the Football Association (FA) said on Friday.

12:26pm BST

Traders chase dwindling oil refining profits

 

LONDON Trade firms that profited from the renaissance in global refining over the past two years are bracing for tougher times as ample stocks, dwindling volatility and newly powerful refineries in China squeeze opportunities, the chiefs of major trade houses told the Reuters Commodities Summit.

12:23pm BST

Bank of England not indifferent to level of sterling - Carney

 

NOTTINGHAM, England Bank of England Governor Mark Carney said on Friday that the central bank was not indifferent to the level of sterling, which has fallen sharply since Britain decided to leave the European Union in a referendum in June.

UK banks coped with Brexit due to post-crisis reforms - Broadbent

 

DERBY, England Deputy Bank of England Governor Ben Broadbent said on Friday that Britain's banking system had coped with the shock result of Britain's decision to leave the European Union in June because of reforms made after the global financial crisis.

11:15am BST

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Italy court accepts Monte dei Paschi settlement request - source

 

MILAN An Italian court accepted a request from Banca Monte dei Paschi di Siena to settle a case revolving round alleged financial crimes by former managers, a source said on Friday.

10:15am BST

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Poland says may still buy aircraft from Airbus

 

WARSAW Poland could still buy aircraft from Airbus, Foreign Minister Witold Waszczykowski said on Friday, in an apparent attempt to calm a procurement row with France over a cancelled deal to buy 50 helicopters from the French producer.

10:13am BST

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Samsung's damaging smartphone crisis could put screws on won

 

SEOUL Samsung Electronics Co.'s smartphone crisis is likely to ripple through to the foreign exchange market, analysts say, putting the South Korean won under pressure as the global tech giant takes a multi-billion dollar earnings hit from lost sales.

10:11am BST

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EU's Vestager says no concerns about France's Alstom train deal

 

FLORENCE EU regulators do not see any state aid issues in France's decision to order 21 fast trains from Alstom in a pre-election job-saving move, the bloc's competition chief said on Friday.

10:08am BST

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UK banks see muted outlook for business lending in fourth quarter

 

LONDON Britain's banks expect muted borrowing demand from businesses in the fourth quarter of the year, a Bank of England survey showed on Friday.

10:04am BST

Japan households still risk-shy despite heavy BOJ easing - survey

 

TOKYO Only 30 percent of Japanese households have experience investing in stocks and nearly 80 percent say they would not take on risk even for an investment yielding significant returns, a survey showed, underscoring the difficulty of reversing the risk-aversion widely blamed for prolonging Japan's chronic deflation.

10:01am BST

Rise in assets, acquisition and buyback boost Man shares

 

LONDON Man Group, the world's biggest listed hedge fund, announced a rise in third-quarter assets under management, an acquisition and plans to buy back $100 million (80.42 million pounds) of shares, sending its stock as much as 17 percent higher on Friday.

9:53am BST

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UK construction output falls in August, ONS sees no Brexit link

 

LONDON, British construction output unexpectedly fell in August led by a decline in infrastructure projects but Britain's statistics office said the weakness did not appear to be linked to the Brexit vote in June.

9:46am BST

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Saudi Arabia, SoftBank aim to be world's No. 1 tech investor with $100 billion fund

 

DUBAI/TOKYO Saudi Arabia and Japan's SoftBank Group will create a technology investment fund that could grow as large as $100 billion (82 billion pounds), making it one of the world's largest private equity investors and a potential kingpin in the industry.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

British government bond yields rise to highest since Brexit result

 

LONDON British government bond yields rose to their highest since the results of the country's vote to leave the European Union on Friday as a weakening pound stoked inflation expectations.

9:44am BST

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British banks keep cyber attacks under wraps to protect image

 

LONDON Britain's banks are not reporting the full extent of cyber attacks to regulators for fear of punishment or bad publicity, bank executives and providers of security systems say.

9:40am BST

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New computer glitch delays United Airlines flights

 

PARIS Thousands of passengers were delayed worldwide after a computer glitch temporarily halted departures at United Airlines, the latest in a series of outages to affect rival companies in the industry.

9:30am BST

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EU's Vestager says keeps close eye on state aid for banks

 

FLORENCE, Italy (Brussels) - EU regulators are keeping a close eye on subsidies granted by national governments to troubled banks to make sure that this does not give them an unfair advantage, Europe's competition chief said on Friday.

9:13am BST

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Tesco, Unilever settle prices row after pound's Brexit dive

 

LONDON Britain's biggest retailer, Tesco , settled a pricing row with Unilever after halting online sales of goods produced by the Anglo-Dutch giant in a dispute caused by a plunge in the pound since Britons voted to leave the EU.

9:12am BST

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Czech finance minister 'not a fan' of adopting euro - newspaper

 

PRAGUE Czech Finance Minister Andrej Babis, one of the country's most popular politicians heading into elections next year, has said he does not favour swapping the crown for the euro.

8:34am BST

China's state-owned lenders seek warmer ties with Manila - Philippines treasurer

 

MANILA China's state-owned lenders are "very keen" to establish economic and financial ties with the Philippines, opening the door for Manila to tap funding for its massive infrastructure spending plans, the national treasurer said on Friday.

8:29am BST

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China third-quarter growth seen steadying at 6.7 percent but property frenzy a worry

 

BEIJING China's economy likely grew 6.7 percent in the third quarter from a year earlier, the same pace as in the previous quarter, as increased government spending and a property boom offset stubbornly weak exports, according to a Reuters poll of 58 economists.

8:13am BST

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As pound tumbles, UK faces sharp return of inflation

 

LONDON Prices are going to rise in Britain. The only question now is by how much.

7:57am BST

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Collapsing mushroom sector exposes flaws in Ireland's Brexit response

 

WALDERSTOWN, Ireland Ireland's mushroom industry provides a stark warning to the rest of the country's economy about the damage a sustained weakness in sterling could inflict on Irish exporters, the sector most vulnerable to the impact of Brexit.

Emerging fund firm Ashmore says flows flat during September quarter

 

LONDON Emerging markets-focused fund manager Ashmore halted outflows and posted a 4 percent rise in assets under management in the September quarter due to investment performance.

7:25am BST

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HP Inc to cut up to 4,000 jobs over next three years

 

HP Inc said it expects to cut about 3,000 to 4,000 jobs over the next three years, as the maker of printers and personal computers continues to struggle with a subdued market, sending its shares down 1.3 percent in extended trading.

6:27am BST

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China producer prices rise for first time in nearly five years, may ease debt woes

 

BEIJING China's producer prices unexpectedly rose in September for the first time in nearly five years thanks to higher commodity prices, welcome news for the government as it struggles to whittle down a growing mountain of corporate debt.

5:27am BST

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Exclusive - Hershey CEO Bilbrey prepares to step down: sources

 

The chief executive of Hershey Co, the chocolate company that Oreo cookie-maker Mondelez International Inc tried to acquire earlier this year, is preparing to step down by next summer, people familiar with the matter said on Thursday.

5:20am BST

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China's Li signals easing rules for car-hailing market

 

HONG KONG Chinese Premier Li Keqiang has signalled a potential easing of strict regulations for the country's fast-growing car-hailing market, the official People's Daily said late on Thursday, a week after several major cities tightened rules on the sector.

5:07am BST

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GM's car-sharing play, Maven, expands to San Francisco

 

SAN FRANCISCO General Motors' car-sharing programme Maven, the auto giant's latest foray into alternative transportation services, has expanded into San Francisco, marking its ninth market since launching in January, the company announced Thursday.

5:04am BST

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Deutsche says wealth management outflows not significant

 

HONG KONG/SINGAPORE Deutsche Bank has seen some outflows from its wealth management division but the withdrawals were not significant, senior executives told Reuters, responding to concerns about the impact of a U.S. fine on the German lender.

4:56am BST

?m=02&d=20161014&t=2&i=1157403171&w=200&fh=&fw=&ll=&pl=&sq=&r=LYNXNPEC9D09Z

Volvo-owner Geely prepares October 20 launch for new car brand

 

BEIJING Chinese automaker Geely is set to launch a new car brand - Lynk & Co - on Oct. 20, sources said, as it seeks to broaden its appeal by tackling the middle market.

4:53am BST

Standard Chartered gets approval to issue SDR bonds in China

 

HONG KONG Standard Chartered Bank (Hong Kong) said on Friday that it has obtained approval from the People's Bank of China to be the first commercial issuer of bonds denominated in Special Drawing Rights (SDRs) in China's interbank bond market.

4:03am BST

Verizon says Yahoo hack 'material,' could affect deal

 

WASHINGTON Verizon Communications Inc said on Thursday it has a "reasonable basis" to believe Yahoo Inc's massive data breach of email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion (3.95 billion pounds) deal to buy the technology company.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

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MPs accuse Government of preferring ‘dirty diesel’ to renewables

 

Removing barriers to the creation of new electricity storage systems for wind and solar power could slash bills by £7bn a year, MPs say

 

 

 

 

 

Hard Brexit deal could leave UK vulnerable to gas crisis, MPs warn

 

 

 

 

 

 

 

 

 

 

Pound sterling could be 'worth less than a dollar within three years'

 

Rogers, who co-founded the Quantum Fund with George Soros, said the UK is facing serious problems

 

 

 

 

 

 

Thousands of Asda workers win major step in equal pay claim battle

 

 

 

 

 

 

'Flash crash' trader to be extradited after losing appeal

 

 

 

 

 

 

MPs blast Southern Railway as guards say dispute is not about doors

 

Mismanagement, staffing and a lack of disabled access are all criticised in a report that serves as an indictment of rail privatisation

 

 

 

 

 

 

 

 

Samsung, Sky, WH Smith: Business news in brief, Friday 14 October

 

Retail chain set to take big hit from falling pound; Murdoch's broadcaster recovers from slow summer; Samsung pays customers to swap their Galaxy Note 7s

 

 

 

 

 

 

Ryanair reduces the check-in window for ‘basic’ fare passengers

 

Those on a one-week holiday will now have to get internet access during their trip

 

 

 

 

 

 

 

 

Life will 'get difficult' for the poor due to inflation says Carney

 

Mr Carney said that inflation was likely to overshoot the Bank’s official 2 per cent target over the coming years but that the Bank would tolerate this in order to protect jobs

 

 

 

 

 

 

Saudi Arabia set to become world's biggest tech investor

 

Kingdom teams up with Japanese conglomerate that made billions from Yahoo and Alibaba.

 

 

 

 

 

Marmite-gate is over. The real Brexit battle will be harder to settle

 

 

 

 

 

Pound sterling' could lose its reserve currency status'

 

 

 

 

 

 

Sir Philip Green could be stripped of his knighthood next week

 

It will be the first time MPs have voted on whether to annul an honour.

 

 

 

 

 

 

 

 

Construction output unexpectedly falls in August

 

Output fell 1.5 per cent in the month and economists say the sector seems likely to be back in recession

 

 

 

 

 

 

Verizon hints it could back out of £4bn Yahoo takeover after hack

 

Breach of 500 million users’ accounts is ‘material’ to deal, says telecoms firm

 

 

 

 

 

 

 

US banks are planning exodus from the UK, French minister says

 

Theresa May has promised to trigger Article 50 of the EU treaty to begin the two-year exit process by next March

 

 

 

 

 

Marmite supply row resolved with Tesco, Unilever says

 

 

 

 

 

'Man Tax' - New York pharmacy charges men 7% more than women

 

 

 

 

 

 

Housing market picks up for first time since Brexit vote

 

Surveyors predict a house price rise over the next three months as the number of homes on agents’ books remains at historic lows

 

 

 

 

 

 

 

Insurers playing cynical game over whiplash as Government mulls reform

 

The industry shouldn't be allowed to use false claims as a way to stiff the victims of accidents that are no fault of their own

 

 

 

 

 

Hammond slammed over 'independence' claims for infrastructure quango

 

 

 

 

 

Unilever boss says Tesco Marmite row will be 'resolved soon'

 

 

 

 

 

 

Marmite shortage prompts £100,000 listings on eBay

 

Tesco has pulled Marmite and other products from its website after Unilever demanded a 10% increase in price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tesco and Unilever shares tumble as price row takes its toll

 

Other supermarkets are also suffering from the fallout.

 

 

 

 

 

New £5 note to sell for more than £80,000

 

 

 

 

 

Tesco vs Unilever: The Retail Rumble in the Jungle sponsored by Brexit

 

 

 

 

 

 

Sports Direct finance boss resigns – three weeks after chief executive

 

News comes after the pound flash crash wiped £15m off the company’s profits last week.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pound sterling slumps as Brexit sparks Tesco-Unilever price row

 

The war between Tesco and Unilever is making the pound worth even less

 

 

 

 

 

 

 

 

The best paid part-time jobs have been revealed

 

There is no need to work long hours to earn a decent living in these careers.

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

 

 

 

 

If DEBT is the problem REPAYMENT is the solution

 

Debt revenue doesn't equal tax revenue

 

I will pay for my own stupidity but not for the stupidity of others.

 

Remember, profits are privatised, losses are socialised.

That's the 21-century Free Market.

Link to post
Share on other sites

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