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Wednesday, June 13, 2018
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13 Jun 3:27pm Federal Reserve raises US interest rates again amid trade relations fears
The Guardian
Fed describes jobs market as ‘strong’ but chair Jay Powell acknowledges mounting concern among US executives over trade The Federal Reserve raised US interest rates again on Wednesday, the seventh increase since 2015 when the central bank resumed raising rates after the last recession. The Fed move came after a two-day meeting where its members discussed the robust state of the US economy and the potential impact of a trade war amid rising tension between the US and its largest trading partners.
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13 Jun 2:37pm Federal Reserve raises US interest rates again
The Guardian
Fed describes jobs market as ‘strong’ and says economic activity has been rising at ‘a solid rate’ The Federal Reserve raised US interest rates again on Wednesday, the seventh increase since 2015 when the central bank resumed raising rates after the last recession. The Fed move came after a two-day meeting where its members discussed the robust state of the US economy and the potential impact of a trade war amid rising tension between the US and its largest trading partners.
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13 Jun 2:18pm WPP chairman defends handling of Sir Martin Sorrell’s departure
The Guardian
Shareholders stage pay revolt but Roberto Quarta says former boss had to be treated as retired WPP’s chairman has defended the handling of Sir Martin Sorrell’s exit and insisted the world’s largest advertising group was powerless to stop its founder from walking away with share bonuses worth up to £20m. Roberto Quarta told shareholders at the group’s annual general meeting on Wednesday that there was “no basis” to cancel Sorrell’s share awards because the company had no proof of misconduct – despite a series of allegations against the former chief executive.
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13 Jun 12:34pm Fishermen warn against carve-up of UK waters in Brexit deal
The Guardian
Industry members urge MPs to take back control and rectify ‘travesty’ of 1973 EEC deal Fishermen from across the UK have visited Westminster to warn against a repeat of the “travesty” of 1973 when they claim British waters were carved up to the advantage of foreign fishing interests upon joining the European Economic Community.
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13 Jun 12:28pm The high price of New Look’s low-cost strategy | Lucy Siegle
The Guardian
The barons of fast fashion have grown rich – but the impact on garment workers in Dhaka and elsewhere can be devastatingThe refrain coming from the “fast fashion” retailer
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Ryanair to open new base at London Southend airport 13 Jun 12:15pm Ryanair to open new base at London Southend airport
The Guardian
Budget airline expects to carry around a million passengers a year, mainly to Spain and Italy Ryanair is to open a new base at London Southend airport in April 2019, despite its concerns for UK aviation after Brexit. The Irish airline expects to carry around a million passengers a year from the Essex airport, largely to Spain and Italy.
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13 Jun 11:42am GCHQ cybersecurity experts investigate Dixons Carphone data breach
The Guardian
Electronics retailer apologises for breach involving 5.9m customers’ bank card details A branch of GCHQ, Britain’s intelligence and security service, is investigating one of the UK’s biggest data breaches at a single firm, involving unauthorised access to 5.9 million
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13 Jun 8:55am The euro could be nearing a crisis – can it be saved? | Joseph Stiglitz
The Guardian
It was supposed to bring shared prosperity, but instead it has slowed growth and sown discord The euro may be approaching another crisis. Italy, the eurozone’s third largest economy, has chosen what can at best be described as a eurosceptic government. This should surprise no one. The backlash in Italy is another predictable (and predicted) episode in the long saga of a poorly designed currency arrangement, in which the dominant power, Germany, impedes the necessary reforms and insists on policies that exacerbate the inherent problems, using rhetoric seemingly intended to inflame passions. Italy has been performing poorly since the euro’s launch. Its real (inflation-adjusted) GDP in 2016 was the same as it was in 2001. But the eurozone as a whole has not been doing well, either. From 2008 to 2016, its real GDP increased by just 3% in total. In 2000, a year after the euro was introduced, the US economy was only 13% larger than the eurozone; by 2016 it was 26% larger. After real growth of around 2.4% in 2017 – not enough to reverse the damage of a decade of malaise – the eurozone economy is faltering again.
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UK inflation at one-year low, but petrol prices hit three-year high - business live 13 Jun 6:34am Updated UK inflation at one-year low, but petrol prices hit three-year high - business live
The Guardian
All the latest economic and financial news, as irate WPP shareholders challenge the company over Sir Martin Sorrell’s departure
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13 Jun 4:35am Updated Dixons Carphone reveals data breach affecting 5.9 million customers
The Guardian
Consumer electronics retailer apologises and says there is currently no evidence of fraud
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13 Jun 4:30am UK inflation holds steady, as WPP faces investor anger over Martin Sorrell - business live
The Guardian
All the latest economic and financial news, as irate WPP shareholders challenge the company over Sir Martin Sorrell’s departure
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Markets await UK inflation, as WPP faces investor anger over Martin Sorrell - business live 13 Jun 4:06am Updated Markets await UK inflation, as WPP faces investor anger over Martin Sorrell - business live
The Guardian
All the latest economic and financial news, as irate WPP shareholders challenge the company over Sir Martin Sorrell’s departure
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13 Jun 3:36am British overseas territories in talks to keep tax haven secrecy
The Guardian
UK plan to impose public registers of share ownership sparked protests and calls for constitutional separation Leaders of British overseas territories are to hold two days of showdown talks with ministers in an attempt to reverse the
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What’s your Vu of £1,000 wedding cancellation bill? 13 Jun 2:00am What’s your Vu of £1,000 wedding cancellation bill?
The Guardian
We paid the money for the venue in December 2019, but face a ‘no refunds’ policy
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12 Jun 9:17pm Adani says 450% bigger Carmichael dam does not need new review
The Guardian
Mining giant says dam and pipeline plan is covered by previous environmental impact statement
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