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Saturday, January 13, 2018
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When it comes to negative gearing, this government prefers fiction to fact | Greg Jericho 13 Jan 4:06pm When it comes to negative gearing, this government prefers fiction to fact | Greg Jericho
The Guardian
It is a matter of concern that Malcolm Turnbull and Scott Morrison chose to ignore the reliable recommendations of the Treasury
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13 Jan 12:35pm Carillion crisis looms for government as time runs out for refinancing deal
The Guardian
Opposition parties demand to know why ministers such as Chris Grayling continued to hand contracts to failing contractor The crisis at Carillion threatens to engulf the government as opposition parties question the decision to continue awarding public sector contracts to the services and construction giant when ministers knew it was in trouble. Whitehall departments are holding emergency meetings this weekend to discuss contingency plans if the Wolverhampton-based firm, which is integral to a raft of public infrastructure projects including HS2 and several major road schemes, is forced into administration.
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13 Jan 11:50am Carillion in crisis as outsourcing operation crumbles under debt
The Guardian
The construction conglomerate – one of the government’s biggest contractors – is hoping rescue talks taking place this weekend will produce a solution to its cash woes and halt a collapse The
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Open banking? I think I’ll be keeping my door shut | Patrick Collinson 13 Jan 5:00am Open banking? I think I’ll be keeping my door shut | Patrick Collinson
The Guardian
I might sound like a luddite, but I’m worried that letting an app access my data might leave me vulnerable to fraud
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13 Jan 3:00am Tencent, the $500bn Chinese tech firm you may never have heard of
The Guardian
It’s overtaken Facebook, bought stakes in Snapchat, Tesla and Hollywood films, and has quietly risen to rival Google and Netflix It is China’s web giant and has a string of high-profile investments spanning Snapchat, Spotify, Tesla and Hollywood film and TV. It is a sprawling corporate giant that has recently overtaken Facebook to become the world’s fifth most valuable listed company – but few, in the west at least, will have heard of Tencent, even though it is worth half a trillion dollars and rising. China is the world’s most populous digital market and the protection afforded by state censorship through the so-called great firewall – which has meant no competition from Facebook, Google, Twitter and Netflix – has helped Tencent flourish since it launched nearly two decades ago in Shenzhen. But in the last year the shares have been supercharged – climbing from less than HK$200 (£18) at the beginning of 2017 to HK$442 now – and the value of the company has soared.
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Ground rent: ‘We feel like prisoners in our own home’ 13 Jan 2:00am Ground rent: ‘We feel like prisoners in our own home’
The Guardian
High charges have left young homebuyers trapped – and the John Lewis pension fund has been accused of playing a role Thousands of young homebuyers remain trapped in virtually brand-new homes made unsaleable by spiralling ground rents and abandoned by developers such as Taylor Wimpey, despite a ban on the charges promised by the government. Guardian Money can also reveal that the £5bn John Lewis pension fund is behind the soaring rents that have made the lives of some homeowners a misery.
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13 Jan 2:00am Gangs of rogue landlords making millions out of housing benefits
The Guardian
‘Lockdown’ is a model that can make £56,000 a year from public funds. But the scandal goes onHighly organised gangs of rogue landlords are making millions every year out of the housing benefit system by enticing desperate local authorities to place single homeless people in micro-flats in shoddily converted and dangerous former family homes. Three-bed houses, where the maximum weekly housing benefit for flat-sharers is under £100 a person, are being converted into as many as six tiny self-contained studios – as little as 10 sq m in size. Each then qualifies for housing benefit of £181 a week, enabling a landlord to squeeze £56,000 a year in rent from a property on London’s fringes, all paid from public funds. The £56,000 compares with the typical £6,200 annual rent on a three-bed council house.
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