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The great interest rate rip off part 10


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Engulfed by flames, what now for Samsung?

 

 

 

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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Specter of Trump Loosens Tongues, if Not Purse Strings, in Silicon Valley

 

By DAVID STREITFELD 56 minutes ago

 

 

Silicon Valley’s traditional reticence about politics is being upended by the prospect of a President Trump, even as traditional fund-raising is lagging.

 

 

 

 

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Minh Uong/The New York Times

 

 

 

 

 

 

 

 

 

 

 

 

The Upshot

 

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How Did Walmart Get Cleaner Stores and Higher Sales? It Paid Its People More

 

By NEIL IRWIN

 

Can the answer to what ails the global economy be found in the people in blue vests at your neighborhood Walmart?

 

 

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Peter Thiel to Donate $1.25 Million in Support of Donald Trump

 

By DAVID STREITFELD

 

The billionaire investor, the only prominent supporter of the Republican candidate in the tech community, joins a very short list of large Trump contributors.

 

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Magnate’s Twin Goals: Fighting Climate Change and Electing Donald Trump

 

By DAVID GELLES

 

Andrew Sabin, who made a fortune recycling precious metals, is a political paradox, throwing his wallet behind climate change initiatives and the Republican nominee.

 

India-Russia Ties Are Strengthened by Military and Energy Deals

 

By REUTERS

 

A group led by the Russian oil giant Rosneft will acquire India’s Essar Oil. India will buy surface-to-air missile systems and stealth frigates from Russia.

 

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Flush and Dominant, Australia’s Banks Come Under Pressure

 

By A. ODYSSEUS PATRICK

 

Claims of misconduct have put big lenders under a spotlight and offer an example to global regulators scrutinizing “too big to fail” institutions.

 

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Wells Fargo Says Customers Shied Away After Scandal

 

By MICHAEL CORKERY

 

The bank said customer loyalty had fallen as fewer checking accounts and credit card accounts were opened in September.

 

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FM Stations That Don’t Reach Far, but Reach Deep

 

By BRETT SOKOL

 

With broadcast ranges as little as five miles, Low Power FM stations are finding loyal niche audiences not afraid to touch that dial.

 

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Salesforce Rules Out a Bid for Twitter

 

By MICHAEL J. de la MERCED and QUENTIN HARDY

 

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

 

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.

 

U.S. Deficit Increases to $587 Billion, Ending Downward Trend

 

By JACKIE CALMES

 

The Obama administration said that the six-year string of declining annual deficits came to an end with the fiscal year 2016.

 

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Why Isn’t the Fed Raising Rates? It’s Complicated, Chief Says

 

By BINYAMIN APPELBAUM

 

Janet L. Yellen said the Fed was struggling to understand the behavior of the labor market and the weakness of inflation, among other issues.

 

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Puerto Rico’s Governor Warns of Fiscal ‘Death Spiral’

 

By MARY WILLIAMS WALSH

 

Meeting in New York with the panel charged with addressing the island’s debt, Alejandro García Padilla asked help in lobbying Congress for assistance.

 

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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.

 

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Success Spoils a U.S. Program to Round Up Wild Horses

 

By DAVE PHILIPPS

 

The U.S. has struggled to limit wild horse populations since Congress passed a law in 1971 protecting the animals on public land in 10 Western states.

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

Tesco faces legal action in pay dispute

 

 

 

 

The UK's biggest supermarket chain Tesco faces legal action from workers who say they have lost out on pay for working anti-social hours.

 

  • 16 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

 

China backs Brics' long term prospects

 

China's president says the long-term prospects of Brics nations Brazil, Russia, India, China and South Africa are still positive despite global uncertainty.

 

  • 16 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

'Hundreds of new jobs' for crisps firm

 

Hundreds of new jobs will be created by upmarket snack firm Tyrrells following its takeover by a US firm, its managing director says.

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

Booming property auctions lift Brexit gloom in British real estate

 

LONDON Commercial property auctions are proving an unlikely bright spot in Britain's real estate market where a steep drop in sterling has attracted overseas buyers and local investors are as yet unfazed by potential fallout from Brexit.

12:03pm BST

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Goldman Sachs vindicated but bruised in court battle with Libyan fund

 

LONDON The outcome of a two-and-a-half-year legal battle between Goldman Sachs and Libya's $67 billion (53.88 billion pounds) sovereign fund is a triumph for the Wall Street giant, which was vindicated despite embarrassing revelations about how some of its bankers conducted business.

5:38pm BST

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Watchdog says about 15 Swiss banks in money laundering 'red zone' -SonntagsZeitung

 

VIENNA Roughly 15 Swiss banks are in a "red zone" of lenders particularly exposed to money laundering risks, the head of Swiss banking watchdog FINMA said in a newspaper interview published on Sunday.

12:08pm BST

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Germany soon to take delivery of A400M with self-protection after delay

 

BERLIN Germany's air force will get an Airbus A400M military transporter with a self-protection system for the first time towards the end of the year, a spokeswoman for the Defence Ministry said, almost a year behind schedule.

12:14pm BST

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ZTO Express eyes largest Chinese company U.S. IPO since Alibaba

 

Logistics company ZTO Express has set terms for what could be the largest U.S. initial public offering this year and also the biggest by a Chinese company after the $25 billion (20.10 billion pounds) IPO of e-commerce giant Alibaba Group Holding Ltd in 2014.

5:36pm BST

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Deutsche Bank considering changes to U.S. strategy - sources

 

FRANKFURT Deutsche Bank is studying a possible change of its strategy in the United States, where it is fighting a $14 billion fine the Department of Justice (DoJ) is requiring over the sale of toxic mortgage bonds before the financial crisis, two sources close to the company said on Saturday.

15 Oct 2016

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Germany says Tesla should not use 'Autopilot' in advertising

 

FRANKFURT German Transport Minister Alexander Dobrindt has asked Tesla to stop advertising its electric vehicles as having an Autopilot function as this might suggest drivers' attention is not needed, his ministry said on Sunday.

5:04pm BST

China's Envision joins investors in German battery firm sonnen cash boost

 

FRANKFURT A German battery maker which allows people to store and pool electricity said it has secured 76 million euros ($85 million) from venture capital investors, including Chinese wind turbine and energy management group Envision, to develop its systems.

1:19pm BST

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Monte dei Paschi CEO to analyse alternative offer on capital boosting plan

 

MILAN Italy's Banca Monte dei Paschi di Siena said on Saturday it had received a non-binding proposal on Oct. 13 from former Industry Minister Corrado Passera presenting an alternative plan to boost the lender's capital.

15 Oct 2016

Greece's lenders to launch new review as Athens digs in on debt relief

 

ATHENS Greece and its creditors start a fresh round of talks this week on reforming its labour market, a tricky task for a leftist government sliding in opinion polls but needed if the recession-hit state can ever win debt relief.

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

Germany considers protecting firms from foreign takeovers-newspaper

 

BERLIN The German Economy Ministry wants to protect high tech companies in Germany from unwanted takeovers, especially from state-owned and partly state-owned companies in non-European countries, a German newspaper reported on Sunday.

9:42am BST

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Vodafone Egypt, Etisalat sign 4G licence agreements with regulator

 

CAIRO Vodafone Egypt and Etisalat have signed 4G licence agreements with the telecoms regulator, an official from the regulator told Reuters.

9:40am BST

Greece's lenders to launch new review as Athens digs in on debt relief

 

ATHENS Greece and its creditors start a fresh round of talks this week on reforming its labour market, a tricky task for a leftist government sliding in opinion polls but needed if the recession-hit state can ever win debt relief.

9:22am BST

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Amid fried chicken craze, foreign firms ruffle Korean feathers

 

SEOUL Don't count your chickens before they hatch.

4:24am BST

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Vodafone Egypt and Etisalat request Egypt 4G licences - regulator

 

CAIRO Vodafone Egypt and Etisalat have requested fourth-generation mobile phone service licences in Egypt, an official at the telecom regulator said on Saturday.

15 Oct 2016

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Italy's Renzi presents 2017 budget, seeks compromise with Brussels

 

ROME Italian Prime Minister Matteo Renzi announced his 2017 budget plan on Saturday, hoping to persuade the European Commission to approve its minimal reduction in the budget deficit next year while avoiding unpopular belt-tightening.

15 Oct 2016

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Monte dei Paschi CEO to analyse alternative offer on capital boosting plan

 

MILAN Italy's Banca Monte dei Paschi di Siena said on Saturday it had received a non-binding proposal on Oct. 13 from former Industry Minister Corrado Passera presenting an alternative plan to boost the lender's capital.

15 Oct 2016

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Air Berlin bans Samsung Galaxy Note 7, Lufthansa does so on U.S. flights

 

FRANKFURT German carrier Air Berlin on Saturday said it had banned Samsung's Galaxy Note 7 mobile phones from flights, while rival Lufthansa said it had banned the phones on services to and from the United States and expected that soon the ban would apply to all other Lufthansa business.

15 Oct 2016

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Italy's Banco Popolare shareholders approve merger with BPM

 

VERONA, Italy Shareholders in Italian lender Banco Popolare on Saturday approved a tie-up with Banca Popolare di Milano (BPM) by a resounding majority, removing one of the final hurdles to the creation of Italy's third-largest bank.

15 Oct 2016

Banco Popolare, BPM shareholders back creation of Italy's third biggest bank

 

MILAN/VERONA The shareholders of Banca Popolare di Milano (BPM) and Banco Popolare approved a merger between the two lenders on Saturday, giving the final green light to the creation of Italy's third-largest bank by assets.

Continental buys auto supplier Konrad Hornschuch

 

FRANKFURT Leading German car industry manufacturer Continental on Saturday announced it had bought Hornschuch, a maker of films, foam laminates and artificial leather for cars and other applications, to help it expand into other industry sectors.

15 Oct 2016

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India, Russia agree missile sales, joint venture for helicopters

 

GOA, India India and Russia on Saturday announced plans to set up a joint venture to build helicopters in India, which will also buy surface-to-air missile systems from its former Cold War ally, as the two tighten their military relationship.

15 Oct 2016

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India's Essar agrees to sell oil arm to Rosneft-led group

 

GOA, India India's debt-laden Essar Group confirmed on Saturday that it has agreed to sell a 98 percent interest in its Essar Oil unit to a consortium led by Russia's Rosneft , giving the energy giant a gateway into the world's fastest growing fuel market.

15 Oct 2016

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India and Russia sign energy, defence deals worth billions

 

GOA, India India and Russia signed billions of dollars of defence and energy deals on Saturday at a summit that sought to inject new life into a relationship that has been tested by shifting global alliances and conflict in the Middle East.

15 Oct 2016

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Russia's Gazprom sees new LNG deal with India's Gail in six months

 

GOA, India Russia's Gazprom CEO Alexei Miller said on Saturday he hoped to renegotiate a deal to supply liquefied natural gas to India's Gail (India) Ltd within the next six months.

15 Oct 2016

Russia's Rosneft says it will use Venezuelan crude to supply Vadinar refinery

 

MOSCOW Russian oil major Rosneft said on Saturday it would use Venezuelan crude to supply India's Vadinar refinery after acquiring the plant from Essar Oil .

15 Oct 2016

Rosneft-Essar deal not subject to sanctions - Russia's VTB head

 

GOA, India A deal in which a group led by Russian oil major Rosneft will acquire India's Essar Oil has been specially structured to avoid falling foul of Western sanctions, Andrey Kostin, head of Russian lender VTB , told Reuters on Saturday.

15 Oct 2016

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Power networks a guarantor of EnBW's future earnings - CFO

 

FRANKFURT EnBW , Germany's third largest utility group, will rely on its power transport grids to generate future earnings, having decided to remain integrated in the face of split-ups by rivals RWE and E.ON , finance chief Thomas Kusterer said on Saturday.

15 Oct 2016

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Singapore Airlines bans Samsung Galaxy Note 7 on its flights

 

SINGAPORE Singapore Airlines said on Saturday it has banned Samsung's Galaxy Note 7 mobile phones from all its flights and any passenger carrying one will not be allowed to board its planes.

15 Oct 2016

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Volkswagen to step up savings in wake of emissions scandal - report

 

FRANKFURT German carmaker Volkswagen is planning to tighten spending sharply as it deals with fall-out from its diesel emissions cheating scandal, Automobilwoche reported on Saturday.

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

UniCredit says in talks with Poland's PZU, fund over Bank Pekao

 

ROME Italy's biggest bank UniCredit said on Saturday it was in talks with Polish insurer PZU and development fund Polski Fundusz Rozwoju about selling its Bank Pekao unit, but there was no certainty these would lead to a deal.

15 Oct 2016

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German finmin wants ESM to be budget watchdog for euro zone states - newspaper

 

BERLIN German Finance Minister Wolfgang Schaeuble told a German newspaper he wanted the euro zone bailout fund - the European Stability Mechanism - to be given responsibility for monitoring euro zone countries' budgets instead of the European Commission.

15 Oct 2016

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Deutsche Bank considering changes to U.S. strategy - sources

 

FRANKFURT Deutsche Bank is studying a possible change of its strategy in the United States, where it is fighting a $14 billion fine the Department of Justice (DoJ) is requiring over the sale of toxic mortgage bonds before the financial crisis, two sources close to the company said on Saturday.

15 Oct 2016

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Poland's PZU says in talks to buy Bank Pekao stake from Unicredit

 

WARSAW Poland's largest insurer, state-run PZU , said on Saturday it has started negotiations with Italy's banking group Unicredit over buying the lender's Polish unit Bank Pekao .

15 Oct 2016

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Russia's Rosneft, partners to invest around $12.9 billion in India's Essar Oil: CEO

 

GOA, India A group led by Russian oil major Rosneft will invest around $12.9 billion (10.37 billion pounds)in India's Essar Oil , Chief Executive Igor Sechin told reporters on Saturday.

15 Oct 2016

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U.S. bans Samsung Galaxy Note 7 smartphones from air travel

 

WASHINGTON Samsung Galaxy Note 7 smartphone devices will be banned from aircraft in the United States starting on Saturday at noon EDT (1600 GMT) under an emergency order, regulators said on Friday after numerous reports of the devices catching fire.

15 Oct 2016

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Samsung flags $5.3 billion profit hit from Note 7 failure

 

SEOUL Samsung Electronics Co Ltd on Friday said it expected to take a hit to its operating profit of about $3 billion (2.45 billion pounds) over the next two quarters due to the discontinuation of its fire-prone Galaxy Note 7 smartphone.

15 Oct 2016

Russia's VTB to open $3.9 billion credit line for India's Essar Oil - CEO

 

GOA, India Russian lender VTB will give India's Essar Oil $3.9 billion in credit for debt reconstruction, VTB Chief Executive Andrei Kostin said on Saturday.

15 Oct 2016

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Conflicting data blurs China's economic outlook

 

BEIJING A mixed bag of Chinese economic data this week has unnerved global markets and clouded the outlook for China's economic growth, days before the release of the country's quarterly gross domestic product figures.

15 Oct 2016

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BoE's Carney pushes back against criticism from PM 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.

Volkswagen to pay $175 million to U.S. lawyers suing over emissions

 

WASHINGTON Volkswagen AG , in another step to move past its costly diesel emissions cheating scandal, has agreed to pay $175 million (£143.6 million) to U.S. lawyers suing the German automaker on behalf of the owners of 475,000 polluting vehicles, two people briefed on the agreement said on Friday.

15 Oct 2016

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Twitter charts solo path as Salesforce rules out takeover

 

Twitter Inc faces an uncertain future after Saleforce.com Inc , the last of the companies believed to be interested in buying the troubled social network, said on Friday that it would not make a bid.

15 Oct 2016

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EU rebuffs Swedish call to ban North American lobster imports

 

BRUSSELS The European Union has rebuffed a Swedish push to ban live imports of a species of North American lobsters it saw encroaching on its shores, in a reprieve for U.S. and Canadian fishermen.

15 Oct 2016

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Britain should back large-scale energy storage - parliamentary committee

 

Britain should support large-scale electricity storage schemes to help make intermittent renewable energy sources such as wind and solar power available around the clock, a parliamentary committee report said on Saturday.

15 Oct 2016

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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" to reverse damage from the 2008-2009 crisis that depressed output, sidelined workers, and risks becoming a permanent scar, Fed Chair Janet Yellen said on Friday in a broad review of where the recovery may still fall short.

14 Oct 2016

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Fujitsu to cut 400-500 jobs in Germany - Nikkei

 

Japanese electronics giant Fujitsu Ltd will cut 400-500 jobs in Germany, the Nikkei business daily reported on Friday.

14 Oct 2016

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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.

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

 

 

 

 

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

Fall in pound is 'shock absorber'

 

 

 

 

Bank of England deputy governor Ben Broadbent says the slide in sterling has been an important 'shock absorber' for the economy.

 

  • 17 October 2016
  • From the section Business
  • comments

 

 

Related content

 

 

 

 

 

 

 

 

'I didn't want to be a weekend dad'

 

Employers should offer flexible working when jobs are advertised to help widen the pool of potential applicants, the CBI says.

 

  • 17 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: FTSE closes lower

 

Pearson falls 8%, dragging the FTSE 100 lower; pound keeps falling; gilt yields hit post-Brexit vote high.

 

 

 

 

 

 

Heathrow decision to await Cabinet view

 

  • 17 October 2016
  • From the section Business
  • comments

 

 

UK economy 'faces prolonged weakness'

 

  • 17 October 2016
  • From the section Business

 

 

Russian channel's UK accounts closed

 

  • 17 October 2016
  • From the section Europe

 

 

 

 

 

Coty styles up a £420m Good Hair Day

 

  • 17 October 2016
  • From the section Business

 

 

FTSE 100 falls 1% as Pearson shares sink

 

  • 17 October 2016
  • From the section Business

 

 

Bank branch closures 'hit small firms'

 

  • 17 October 2016
  • From the section Business

 

 

Biffa cuts share price in flotation

 

  • 17 October 2016
  • From the section Business

 

 

Casino shares slide after Crown arrests

 

  • 17 October 2016
  • From the section Business

 

 

Ladbrokes-Coral sells 359 betting shops

 

  • 17 October 2016
  • From the section Business

 

 

 

 

Also in the News

 

 

 

Royal Liver building is put up for sale

 

 

 

 

 

Tesla told to dump Autopilot brand

 

 

 

 

 

Features & Analysis

 

 

 

Breakfast binge

 

Why we're spending more on the first meal of the day

 

  • 17 October 2016
  • From the section Business

 

 

 

 

 

Quick question

 

Who is the man behind popular quiz app Trivia Crack?

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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A Critical Eye on Wall Street’s Secrets

 

By ALEXANDRA STEVENSON and MATTHEW GOLDSTEIN 12:18 PM ET

 

The National Labor Relations Board has challenged some parts of the employee contracts at the hedge fund Bridgewater Associates, including the confidentiality agreement.

 

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Jared Kushner Talks of a Trump TV Network With a Media Deal Maker

 

By MAGGIE HABERMAN 1:27 PM ET

 

Mr. Kushner, Donald J. Trump’s son-in-law, informally reached out to a veteran media investment banker, who is also a friend, about setting up the channel.

 

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In China, Property Frenzy, Fake Divorces and a Bloating Bubble

 

By NEIL GOUGH and CAROLYN ZHANG

 

As experts warn about the soaring cost of housing, the growing use of mortgages could make the country’s latest property boom particularly unstable.

 

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Specter of Trump Loosens Tongues, if Not Purse Strings, in Silicon Valley

 

By DAVID STREITFELD

 

The tech community’s usual reticence about politics is being upended by the prospect of a President Trump, even as traditional fund-raising is lagging.

 

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IBM Is Counting on Its Bet on Watson, and Paying Big Money for It

 

By STEVE LOHR

 

The years of investment in its artificial intelligence effort, IBM executives say, are increasingly turning into moneymaking opportunities in sizable markets like health care and manufacturing.

 

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Stepping Up Security for an Internet-of-Things World

 

By STEVE LOHR

 

As appliances, cars and factory machines are computerized and connected to networks, we may become more efficient but hackers will have more to hack.

 

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British Bank Abruptly Drops Russian Network RT’s Accounts

 

By NEIL MacFARQUHAR and KIMIKO DE FREYTAS-TAMURA 12:35 PM ET

 

The state-financed network, also known as Russia Today, suggested that NatWest’s decision hindered its freedom of speech, though critics consider RT a Kremlin mouthpiece.

 

Leading New York Law Firms Lag in Including Women and Minorities

 

By ELIZABETH OLSON

 

Some of the nation’s most profitable firms were required for the first time to complete a benchmarking survey to give a better picture of their makeup.

 

 

 

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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Pound sterling falls to lowest level against the euro since 2010

 

The pound is under pressure from fresh Brexit uncertainty

 

 

 

 

 

Britain may still pay billions into the EU's budget after Brexit

 

 

 

 

 

 

 

 

 

 

Ladbrokes and Coral sell shops for a song but they’re not real losers

 

Four big chains controlled 87 per cent of UK betting shops before the deal. That will go down to three if sale of more than 300 shops to Betfred persuades competition watchdogs to green light Ladborkes and Coral merger

 

 

 

 

 

 

US says Britain needs to 'sort out' its relationship with EU

 

 

 

 

 

 

Biffa's cut price flotation: Here's why it's bad news for the economy

 

 

 

 

 

 

Pound's fall is a good thing according to Bank of England policy maker

 

Weakened currency is an important ‘shock absorber’, Ben Broadbent says. It has already pushed up import costs and will feed through to shop prices over the next few months

 

 

 

 

 

 

 

 

Pound value falls back below $1.22

 

Sterling fell to $1.216, having lost more than 5% in the past two weeks after May raised the spectre of a 'hard' Brexit

 

 

 

 

 

 

Ladbrokes and Coral agree sale of 359 shops to allay competition fears

 

Regulators had ordered the sale after finding that the deal could lead to a worsening of comptition

 

 

 

 

 

 

 

 

Inflation set to rise as UK economy faces slowdown

 

The economy's stability since the EU referendum was “deceptive”, EY said

 

 

 

 

 

 

Euro is a 'house of cards' ready to collapse, key founder warns

 

Professor Otmar Issing says the European Central Bank betrayed the principles of the currency project by bailing Greece out in 2008

 

 

 

 

 

MPs accuse Government of preferring ‘dirty diesel’ to renewables

 

 

 

 

 

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

 

 

 

 

 

 

Eurostar to cut train services due to 'challenging environment'

 

Two trains to Paris and one to Brussels could be cancelled daily

 

 

 

 

 

 

 

 

Nissan chief ‘confident’ about investing in UK after Brexit

 

Chief executive Carlos Ghosn had Downing Street talks with the prime minister after he had demanded compensation for the company to stay in the UK after it leaves the EU.

 

 

 

 

 

 

William Hill needs to call time on its bad bet

 

The market added nearly £130m to the company's value when Hill's biggest shareholder said it would oppose a merger with Canadian gambling outfit Amaya

 

 

 

 

 

 

 

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

 

 

 

 

 

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

 

 

 

 

 

 

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'

 

 

 

 

 

Sir Philip Green could be stripped of his knighthood next week

 

 

 

 

 

 

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

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

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

Pearson slump, weak energy shares hit FTSE

 

LONDON Publisher Pearson led Britain's top share index lower on Monday after saying market conditions continued to be challenging.

6:42pm BST

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Sterling trade jumped three times on day of "flash crash" -Thomson Reuters

 

LONDON Sterling traded more than three times its daily average for the past three months against the dollar in the 24 hours following a dramatic 10-percent collapse on Oct 7, Thomson Reuters said on Monday.

12:27pm BST

Pearson shares slump as weak U.S. textbook sales hit recovery

 

LONDON Britain's Pearson said a drop in demand for higher education textbooks in its biggest market the United States had resulted in a weaker-than-expected third-quarter performance.

10:21am BST

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"Tired of fog? Try the frogs!" Paris tries to poach London business after Brexit

 

LONDON With a quip about British fog and French frogs, Paris began an advertising campaign on Monday aimed at poaching business from London after the Brexit vote raised questions about the future dominance of Europe's top financial capital.

1:17pm BST

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UK September commercial property values fall slightly - MSCI IPD index

 

UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain's vote to leave the European Union are easing.

4:13pm BST

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Bank of England sees little immediate harm from pension fund deficits

 

LONDON British businesses have shown little sign of creating fewer jobs or investing less as a result of growing pension liabilities but the rules governing such funds may need to be tweaked, Bank of England deputy governor Ben Broadbent said on Monday.

5:47pm BST

RBS says RT's bank accounts in Britain are still operative

 

Royal Bank of Scotland said on Monday Russian broadcaster RT's bank accounts in Britain remained open and were still operative, responding to a complaint by RT that it had been told that the accounts were to be closed.

7:03pm BST

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Fed's Fischer - downshift in potential means "not that simple" to raise rates

 

NEW YORK The U.S. economy may face longer and deeper recessions in the future if interest rates remain stuck at current low levels, Fed Vice Chair Stanley Fischer said on Monday as he mapped out a world in which low growth hamstrings central banks from effective recession-fighting.

6:41pm BST

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Carl Icahn on CNBC says a lot of companies are 'way overvalued'

 

NEW YORK Billionaire investor Carl Icahn told CNBC on Monday that many S&P 500 companies are "way overvalued" considering the risk in emerging markets.

6:33pm BST

Standard Life told by watchdog to review annuity sales

 

Britain's financial watchdog has asked Standard Life Plc to review whether it gave customers in poor health enough information when it sold them pension products, the insurer said on Monday.

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

Bank of America profit rises on bond trading, cost cuts

 

Bank of America Corp , the second-largest U.S. bank by assets, reported its first profit increase in three quarters on Monday, foiling expectations for another drop, as bond trading surged and expenses fell.

5:44pm BST

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Deutsche Bank's options to solve capital dilemma seen to be limited

 

FRANKFURT Deutsche Bank needs to move quickly to boost capital and deliver healthy profits if it is to restore investor confidence, but its room for manoeuvre appears limited, bankers, analysts and investors say.

5:43pm BST

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London insists on English requirement for private hire drivers

 

LONDON London's transport bosses said on Monday that all drivers of private hire vehicles must speak, listen to, read and write English to a set level, intensifying a battle with taxi app Uber [uBER.UL] which says the expected standard is too high.

4:55pm BST

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Britain, New Zealand agree to start regular trade talks

 

LONDON Britain and New Zealand agreed on Monday to set up regular trade policy talks to help push for greater global trade liberalisation and reform as Britain leaves the European Union, trade minister Liam Fox said.

4:50pm BST

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Frankfurt, Paris expect to welcome bankers from London in 2017

 

LONDON European financial centres are stepping up a charm offensive, saying they expect banks to start moving some operations from London next year to ensure continued access to the EU market after Britain leaves the bloc.

4:43pm BST

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Hasbro revenue, profit beat as Disney Princess dolls dazzle

 

Hasbro Inc reported better-than-expected quarterly revenue and profit, helped by strong demand for Disney Princess, Frozen and Trolls dolls, and said it was seeing "strong sales trends" heading into the holiday shopping season.

4:28pm BST

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German car industry warns UK that 'hard Brexit' could trigger shift south

 

BERLIN Parts of Britain's car industry could move to southeast Europe if it loses access to the EU's single market in its divorce negotiations, the president of Germany's VDA auto industry association said.

4:24pm BST

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Restaurants, rents push euro zone inflation up in September

 

BRUSSELS Higher prices in restaurants and cafes as well as rents and cigarette prices pushed up euro zone inflation in September, data showed on Monday, offsetting the downward pull on the index from cheap fuel and gas prices.

UK consumers most upbeat in five years, but not in pro-EU London

 

LONDON British consumers were their most confident in five years in September, a survey showed on Monday, but the upbeat mood was not shared in London where most voters opposed leaving the European Union in June's Brexit referendum.

4:19pm BST

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UK September commercial property values fall slightly - MSCI IPD index

 

UK commercial property values slipped in September but at a slower pace than in July and August, a closely-watched index showed, suggesting concerns about the impact of Britain's vote to leave the European Union are easing.

4:13pm BST

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UBS spending $1 billion on IT overhaul

 

ZURICH UBS , the world's biggest private bank, is spending around 1 billion Swiss francs (0.82 billion pounds) to standardize the IT platform across its flagship wealth management business, an investment it hopes will ultimately help lower costs.

3:57pm BST

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UK fashion market shows steepest sales decline in seven years - Kantar Worldpanel

 

LONDON Britain's fashion market has suffered its steepest decline in sales since 2009 as consumers increasingly spend their money elsewhere, according to industry data published on Monday.

3:51pm BST

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Thomson Reuters begins roll out of high-speed data feed

 

LONDON Thomson Reuters will take the first steps next month to launch a new data feed that gives high-speed computer traders 10 times faster updates on prices on its Matching venue, where banks trade tens of billions in foreign exchange daily.

3:21pm BST

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Japan's finance watchdog urges banks to lend more to companies with growth potential

 

TOKYO Banks in Japan should focus more on a company's potential rather than whether it has a solid track record when deciding whether to lend money, draft guidelines from the county's financial regulator showed.

2:09pm BST

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Trump's son-in-law held talks to set up Trump TV network - FT

 

Donald Trump's son-in-law, Jared Kushner, informally approached LionTree Advisors Chief Executive Aryeh Bourkoff about setting up a Trump TV network after the presidential election, the Financial Times reported on Monday, citing sources.

1:53pm BST

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Agency that vetted Tesla's Autopilot for Europe concerned about the name

 

AMSTERDAM The Dutch agency that approved Tesla's "Autopilot" driver assistance system for use throughout Europe is concerned the name could be misleading, a spokeswoman said on Monday, after Germany asked the company to stop using the term in advertising.

1:47pm BST

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Coty to buy London-based hairstyling appliances maker ghd

 

Beauty products maker Coty Inc said it would buy ghd, a high-end hairstyling appliances brand, from private equity firm Lion Capital LLP for about 420 million pounds.

1:32pm BST

"Tired of fog? Try the frogs!" Paris tries to poach London business after Brexit

 

LONDON With a quip about British fog and French frogs, Paris began an advertising campaign on Monday aimed at poaching business from London after the Brexit vote raised questions about the future dominance of Europe's top financial capital.

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

Banks in UK will shift some activities to Frankfurt in 2017 - official

 

LONDON Banks based in London will begin moving some operations to Frankfurt in the second half of next year to ensure full access to the European Union market, a top Frankfurt official said on Monday.

1:16pm BST

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Paris says banks in UK have two choices after Brexit: Paris or Frankfurt

 

LONDON Paris or Frankfurt are the only two real choices in the European Union for relocating financial firms from London after Britain leaves the bloc, a top French official said on Monday.

1:14pm BST

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ECB to maintain status quo when it meets on Thursday - traders

 

The European Central Bank will keep policy unchanged when it meets on Thursday, even as pressure builds on the central bank to do more, according to a majority of euro money market traders polled by Reuters.

12:55pm BST

UK competition watchdog says ICE has to sell Trayport

 

Financial and commodity markets operator Intercontinental Exchange Inc will have to sell commodities software house Trayport to preserve competition in the energy trading industry, Britain's competition watchdog said on Monday. http://bit.ly/2elcJZN

12:28pm BST

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Sterling trade jumped three times on day of "flash crash" -Thomson Reuters

 

LONDON Sterling traded more than three times its daily average for the past three months against the dollar in the 24 hours following a dramatic 10-percent collapse on Oct 7, Thomson Reuters said on Monday.

12:27pm BST

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BoE's Broadbent - won't risk economy to meet inflation target: BBC

 

LONDON Bank of England Deputy Governor Ben Broadbent said the central bank would not raise interest rates for the sake of meeting its 2 percent inflation target if it risked hurting the economy, in an interview published on Monday.

12:25pm BST

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Britain looks at paying into EU budget after Brexit to get market access - FT

 

LONDON Britain might continue to pay billions of pounds into the European Union's budget after Brexit to maintain single-market access for the City of London and other sectors under plans being discussed by government, the Financial Times reported.

12:17pm BST

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Sales of double-digit million pound UK homes fall 86 percent

 

LONDON The number of British homes worth 10 million pounds or more sold over the summer fell by an annual 86 percent, hit by property tax hikes and the Brexit vote, according to official data analysed by a residential fund.

12:07pm BST

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UK-U.S. trade talks impossible until Brexit clarified - U.S. Trade Representative

 

GENEVA Britain needs to sort out its relationship with the European Union before it can begin to talk to the United States about any post-Brexit trade deal, U.S. Trade Representative Michael Froman said in Geneva on Monday.

11:59am BST

Biffa IPO priced below expectations as European listings stutter

 

LONDON Waste management specialist Biffa priced its initial public offering (IPO) at a lower than expected level on Monday, highlighting continuing difficulties faced by companies seeking to raise cash on European capital markets.

Robert Walters sees uptick in London investment bank hiring

 

Hiring levels in London investment banking have picked up in recent weeks, though it is too early to say whether this will continue in the wake of Britain's vote to leave the European Union, recruitment firm Robert Walters said on Monday.

11:51am BST

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Creeping signs of deflation overshadow BOJ's optimism on economy

 

TOKYO The Bank of Japan has maintained its optimistic economic view on most of the country's nine regions but said some firms are struggling to raise prices due to weak consumption, underscoring the difficulty of removing the public's sticky deflationary mindset.

10:49am BST

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PepsiCo sets global target for sugar reduction

 

LONDON PepsiCo Inc has set a target for reducing the amount of sugar in its soft drinks around the world as part of a suite of goals aimed at tackling problems ranging from obesity to climate change.

10:42am BST

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VW factories to raise efficiency by up to 8 percent - Handelsblatt

 

FRANKFURT Volkswagen wants to improve the productivity of its factories by between five and eight percent per year, German daily Handelsblatt said on Monday, citing company sources.

10:41am BST

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Peugeot buys used car retailer in diversification push

 

PARIS PSA Group, the maker of Peugeot, Citroen and DS cars, said on Monday it was buying a stake in a French online second-hand car retailer as it expands into new areas of business.

10:32am BST

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How EU fund rules leave gaps in investor protection

 

PAVIA, Italy Pietro Maffi routinely checks his financial statements and has a good understanding of how his savings are being managed. At least he thought he did until he read the small print.

10:27am BST

Pearson shares slump as weak U.S. textbook sales hit recovery

 

LONDON Britain's Pearson said a drop in demand for higher education textbooks in its biggest market the United States had resulted in a weaker-than-expected third-quarter performance.

10:21am BST

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Sterling mired near lows, hurt by gilts sell off and politics

 

LONDON Sterling traded below $1.22 on Monday and weakened against the euro, hurt by rising gilt yields and media reports of disagreements between the Chancellor and his cabinet colleagues over the terms of Britain's exit from the EU.

9:24am BST

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Ladbrokes, Gala Coral to sell 359 shops ahead of merger

 

LONDON British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed.

9:23am BST

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Booming property auctions lift Brexit gloom in British real estate

 

LONDON Commercial property auctions are proving an unlikely bright spot in Britain's real estate market where a steep drop in sterling has attracted overseas buyers and local investors are as yet unfazed by potential fallout from 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.

Link to post
Share on other sites

Peugeot to cut more than 2,000 jobs in France in 2017 - France Info

 

PARIS PSA Peugeot Citroen plans to cut more than 2,000 jobs, around 3 percent of its workforce, in France next year through a combination of early retirements and voluntary buyouts, France Info radio reported on Monday, citing internal documents.

8:36am BST

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City of London's reliance on EU 'passport' exaggerated - think tank

 

LONDON Britain needs to focus its efforts on the banking sector when negotiating new financial trading terms with the European Union as the benefits of unfettered access across the industry as a whole have been overplayed, think tank Open Europe said in a report on Monday.

8:03am BST

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China aluminium makers to target auto, aerospace in global push

 

MELBOURNE China's giant aluminium makers are pushing into the global automotive and aerospace markets, with industry sources expecting their presence to heat up competition and possibly spark a buying spree for Western metals companies.

8:01am BST

Energy supplier SSE to sell 16.7 percent stake in gas distribution business

 

SSE Plc, Britain's second biggest energy supplier, said it had agreed to sell a 16.7 percent stake in regional gas distribution business Scotia Gas Networks Ltd (SGN) to Abu Dhabi Investment Authority for 621 million pounds.

8:00am BST

Canton Fair exporters upbeat as China moves up value chain

 

HONG KONG/GUANGZHOU, China More than 80 percent of companies at China's largest trade fair expect to export more next year, helped by innovation and currency movements, according to a Reuters poll, raising hopes of a turnaround after more than a year of weak export data.

7:51am BST

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BoE's Broadbent: pound's fall a 'shock absorber' after EU vote - BBC radio

 

LONDON Bank of England Deputy Governor Ben Broadbent said the pound's fall after Britain voted to leave the European Union has acted as an important shock absorber for the economy, in a radio interview broadcast on Monday.

7:49am BST

Kenyan opposition says any new Eurobond could become 'odious debt'

 

NAIROBI Kenya's main opposition leader Raila Odinga said any new Eurobond issue by Kenya could be classified as "odious debt", saying the government had failed to account fully for the use of funds raised in a previous issue.

7:32am BST

HK shares of Birmingham City football club owner dive on resumption after two-year halt

 

HONG KONG The Hong Kong-listed owner of English football club Birmingham City lost nearly a third of its value on Monday as the stock resumed trading after a near two-year suspension over a financial scandal that saw ex-chairman Carson Yeung jailed.

6:15am BST

Customers pile in, analysts fret as U.S. banks offer rich card awards

 

NEW YORK Morrie Low, a 27-year-old Seattle cocktail server, has found an unlikely new source of pleasure: credit card companies.

6:07am BST

China's AVIC, CITIC, others inject $850 million to fund Tencent's Supercell purchase

 

HONG KONG Tencent Holdings Ltd said a consortium formed to buy game developer Supercell has raised $850 million by selling new shares to investors including Chinese state-owned investment firms AVIC Capital and CITIC Capital.

Tesla, Panasonic to collaborate on solar cells production

 

Elon Musk's Tesla Motors said it would collaborate with Japan's Panasonic Corp to manufacture solar cells and modules in New York.

5:07am BST

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Boston Fed's Rosengren maps case for a dove's rate hike

 

WASHINGTON By the middle of next year, Federal Reserve Bank of Boston President Eric Rosengren says he expects unemployment to fall to 4.7 percent and inflation to beat the Fed's 2 percent target, leaving policymakers at risk of having to squelch the recovery with faster-than-expected rate increases.

5:06am BST

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Lack of new blood casts doubt over Wells Fargo's change plan

 

NEW YORK Wells Fargo & Co's decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a sales scandal has raised questions about whether it can truly fix the culture which caused its problems.

5:05am BST

China 2016 economic growth seen slowing to 6.6 percent, 6.5 percent in 2017 - poll

 

BEIJING China's economic growth is expected to cool to 6.6 percent this year and slow further to 6.5 percent in 2017, even as the government keeps up policy support to help ward off a sharper slowdown, a Reuters poll showed.

5:03am BST

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Airbus to overtake Boeing on aircraft output rates by 2020 - CEO tells paper

 

FRANKFURT European aircraft maker Airbus aims to overtake arch rival Boeing in terms of annual plane deliveries by 2020, having fallen behind in recent years, Chief Executive Fabrice Bregier said in a German newspaper interview published on Monday.

4:01am BST

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Sinochem unit says has no knowledge of merger with ChemChina

 

BEIJING Sinochem International Corp, a unit of state-owned Sinochem Group, said on Monday it has received no information regarding a proposed merger of its parent company with rival ChemChina.

3:02am BST

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Germany says Tesla should not use 'Autopilot' in advertising

 

FRANKFURT German Transport Minister Alexander Dobrindt has asked Tesla to stop advertising its electric vehicles as having an Autopilot function as this might suggest drivers' attention is not needed, his ministry said on Sunday.

1:16am BST

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Greece's lenders to launch new review as Athens digs in on debt relief

 

ATHENS Greece and its creditors start a fresh round of talks this week on reforming its labour market, a tricky task for a leftist government sliding in opinion polls but needed if the recession-hit state can ever win debt relief.

12:26am BST

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Surf, suds and stock tips - Millennials find place at Stocktoberfest

 

SAN DIEGO Actress Rachel Fox was just 15 when she made her first, and worst, stock market trade using money she had earned on "Desperate Housewives."

16 Oct 2016

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Deal with Rosneft is U.S. sanctions-compliant, says Essar Group CEO

 

MUMBAI The $12.9 billion (10.6 billion pounds) sale of India's Essar Oil to a group led by Russia's Rosneft does not run foul of U.S. sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group's CEO said on Sunday.

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.

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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.

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Share on other sites

The pound is recovering but airports are still selling it for a euro

 

Moneycorp at Bristol airport featured the worst rate at $1 for a pound - 19% lower than its wholesale rate

 

 

 

 

 

Higher inflation rise will cost poor families extra £100 a year, warns

 

 

 

 

 

 

 

 

 

 

UK will wait years to agree post-Brexit trade deals says WTO economist

 

In the meantime the country will be exposed to much higher import tariffs

 

 

 

 

 

 

William Hill pulls out of Amaya merger talks but what next?

 

 

 

 

 

 

Tesco increases market share for first time in five years

 

 

 

 

 

 

British fashion industry in steepest decline since 2009

 

It would be even worse if the collapse of BHS had been included,

 

 

 

 

 

 

 

 

UK inflation rises to 1% in September

 

The UK consumer price index jumped to 1 per cent - the highest inflation rate since November 2014

 

 

 

 

 

 

Pound sterling slide sees Ryanair cut its earnings forecast for 2017

 

Sterling hit a new six-year low against the euro on Monday.

 

 

 

 

 

 

 

 

Self-employed wages still lower than two decades ago

 

The Resolution Foundation estimates that average earnings for people in the group in 2014/15 are only around £240 a week, 15 per cent down on 1994/95 levels in real terms

 

 

 

 

 

 

Brexit pound slump good news for UK property as auction sales boom

 

Demand is now soaring, reversing the trend that saw billions rapidly pulled out of commercial property funds just after the referendum

 

 

 

 

 

William Hill and Amaya abandon mega-merger after shareholder revolt

 

 

 

 

 

Pearson, Brexit, Iran: Business News in brief, 17 October

 

 

 

 

 

 

Pepsi unveils new health drive - one can will still have 25g of sugar

 

One can will still contain an adults entire daily limit of added sugar, and it won't happen until 2025 - campaigners say it's not enough.

 

 

 

 

 

 

 

 

Argos agency staff fail to get 80p an hour bonus if they call in sick

 

Employment lawyers have warned the move could lead to “indirect disability discrimination”

 

 

 

 

 

 

Pound sterling falls to lowest level against the euro since 2010

 

The pound is under pressure from fresh Brexit uncertainty

 

 

 

 

 

 

 

UK no longer one of top 5 countries to invest in after Brexit

 

Survey of 1,700 business leaders in 45 countries shows UK has slipped down the list, and mergers and acquisitions are down by more than half

 

 

 

 

 

Ladbrokes and Coral sell shops for a song but they’re not real losers

 

 

 

 

 

US says Britain needs to 'sort out' its relationship with EU

 

 

 

 

 

 

Biffa's cut price flotation: Here's why it's bad news for the economy

 

The rock bottom price achieved by the company is symptomatic of investors' reluctance to take risks and the UK economy will suffer as a result

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

Airports expansion decision next week

 

 

 

 

The government will next week announce its decision on whether to favour expanding either Heathrow or Gatwick airport, after decades of delays.

 

  • 18 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

 

Philip Green 'sad and sorry' about BHS

 

Sir Philip Green says he is "sad and very sorry" for the hardship caused by the BHS collapse and that he still wants to sort out the pension deficit.

 

  • 18 October 2016
  • From the section Business

 

 

Related content

 

 

 

 

 

 

 

Live Business Live: Brexit hint boosts pound

 

The pound gains ground against the dollar after suggestions parliament may have to ratify a UK deal.

 

 

 

 

 

 

Annuity re-selling plans abandoned

 

  • 18 October 2016
  • From the section Business

 

 

Eurostar to cut services from December

 

  • 18 October 2016
  • From the section Business

 

 

Clothes and fuel push inflation to 1%

 

  • 18 October 2016
  • From the section Business
  • comments

 

 

 

 

 

Self-employed 'earn less than in 1995'

 

  • 18 October 2016
  • From the section Business

 

 

Tourists flock to Burberry's UK stores

 

  • 18 October 2016
  • From the section Business

 

 

Self-driving cab in 'prang' in Singapore

 

  • 18 October 2016
  • From the section Business

 

 

Pound fall hits Ryanair profit forecast

 

  • 18 October 2016
  • From the section Business

 

 

Goldman Sachs sees profits soar

 

  • 18 October 2016
  • From the section Business

 

 

East and South drive house price rises

 

  • 18 October 2016
  • From the section Business
  • comments

 

 

 

 

Also in the News

 

 

 

Shearer sues over Spinal Tap profits

 

 

 

 

 

Netflix sees big jump in subscribers

 

  • 17 October 2016
  • From the section Business

 

 

 

 

Features & Analysis

 

 

 

Inflation means inflation

 

Does anyone benefit from Brexit price surge?

 

  • 18 October 2016
  • From the section Business

 

 

 

 

 

Let's play!

 

How 'gamification' could help you get a job

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

HealthCare.gov Will Add ‘Simple Choice’ Plans in Effort to Improve Value

 

By ROBERT PEAR

 

 

Many consumers will have a new option when the insurance marketplace opens in two weeks: standardized plans that cover basic services without a deductible.

 

 

 

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Kevin D. Liles for The New York Times

 

 

Itineraries

 

Civil Rights History Finds Heightened Relevance in a Troubled Present

 

By JULIE WEED

 

Interest is growing in so-called civil rights tourism, as attendance and donations grow for museums focused on the African-American experience.

 

 

 

 

 

 

 

 

 

 

 

 

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Guiding Refugees in Europe on a Rocky Path to Assimilation

 

By LIZ ALDERMAN 11:23 AM ET

 

Private groups have sprung up to help newcomers find professional networks and improve their skills, but the adjustment has been harder than expected.

 

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Samsung’s Uneven Handling of Galaxy Note 7 Fires Angers Chinese

 

By SUI-LEE WEE

 

The company’s decision to exclude China from an initial recall has prompted a backlash that could further erode its position in the important market.

 

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Wall Street Dealmaker Says Professor Took Him for a Ride

 

By GRAHAM BOWLEY

 

Andrew J. Hall, a trader and operator of an art museum, is suing a former professor who he says sold him fake Leon Golub paintings.

 

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Dalian Wanda of China Offers a Carrot to Hollywood

 

By BROOKS BARNES

 

The Chinese conglomerate wants to be an entertainment superpower, and it would like to start by getting more American movies made in China.

 

 

On the Runway

 

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A Fashion Tech Giant Makes a Commitment to London

 

By ELIZABETH PATON 10:17 AM ET

 

Despite fears about the effect of Britain’s vote to leave the European Union, the Yoox Net-a-Porter Group announced a new technology hub in the British capital.

 

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Labor Board Challenges Secrecy in Wall Street Contracts

 

By ALEXANDRA STEVENSON and MATTHEW GOLDSTEIN

 

The National Labor Relations Board has challenged some parts of the employee contracts at the hedge fund Bridgewater Associates, including the confidentiality agreement.

 

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New Jersey Is Known for Cheap Gas. The Glory Days Are About to End.

 

By SARAH MASLIN NIR

 

The low prices are a point of pride for residents, and a reason for visitors to fill up before going home. That may change next month when the per-gallon tax rises 23 cents.

 

 

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Billy Bush Officially Departs NBC

 

By JOHN KOBLIN 1:12 PM ET

 

The terms of his departure are not known but he is believed to have left the network with a large settlement. He is free to seek a position elsewhere.

 

18DYLAN-web-thumbStandard.jpg

Bob Dylan, the Newest Nobel Laureate, Maintains His Reticence

 

By BEN SISARIO and ALEXANDRA ALTER

 

The singer-songwriter has not had contact with the Swedish Academy, which bestowed his Nobel Prize for Literature, nor did he mention it in two performances afterward.

 

 

 

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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