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Sunday, July 14, 2019
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14 Jul 12:44pm City regulator fines balloon to £320m in six months
The Guardian
Financial services watchdog starts to mete out stiff penalties after years of much-criticised inactivity The City regulator imposed more fines on companies in the first half of 2019 than in the previous three full years as it faced mounting pressure over failing to protect customers of the financial services industry. In the six months to the end of June, the Financial Conduct Authority (FCA) imposed 10 fines worth a total of £319.2m – more than five times the annual total for 2018 of £60.5m. Fines in the first half of 2019 outstripped the combined total for the previous three years of £311m.
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14 Jul 9:10am New UK nuclear funding model could leave taxpayers liable
The Guardian
Ministers are expected to announce plans to bolster nuclear industry this week The government will set out plans to resuscitate the UK’s struggling nuclear ambitions with a new scheme which would leave taxpayers liable for rising costs or delays. The funding model, expected this week, could help bankroll the multibillion pound plans for a follow-on to EDF Energy’s Hinkley Point C project in Somerset, which ministers aim to build at the Sizewell site in Suffolk.
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14 Jul 7:11am Unite to investigate claims of collusion with construction blacklist
The Guardian
Allegations focus on union officials passing information to bosses about potential ‘troublemakers’ Britain’s biggest trade union has launched an inquiry into longstanding allegations that union officials colluded with a clandestine blacklist which was run and funded by large construction firms to prevent specific workers from getting jobs. The inquiry set up by
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14 Jul 6:57am Will Mark Carney and George Osborne vie for the top IMF job?
The Guardian
The BoE governor stands more chance than the ex-chancellor but the likely choice may just be a Bulgarian woman Ever since he set his departure date from the Bank of England, there has been speculation about what Mark Carney will do next. There are not that many bigger jobs around than his current one but one of them has become available after the news of Christine Lagarde’s planned departure from the International Monetary Fund for the
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14 Jul 2:59am Five stars or fake? How to beat fraudulent online reviews
The Guardian
Internet sales are growing – and so is the threat of false endorsementsAs many shoppers search for bargains in advance of Amazon’s “Prime Day” sale this week, there is a growing scepticism about how they can judge the products they are thinking of buying. Three-quarters of people read the reviews posted about products and services, but doubts are mounting over the trustworthiness of these reviews. A burgeoning market for fakes has emerged, and experts say consumers must be vigilant.
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14 Jul 2:00am Little hope for a summer bounce as no-deal fears drag down GDP growth
The Guardian
The economy expanded just 0.3% in May, and a slump awaitsOne swallow doesn’t make a summer, so the old saying goes. For the warm middle months of the year, the British economy looked remarkably frosty, chilled by fears over a no-deal Brexit, until the Office for National Statistics reported a surprisingly strong month for growth in May.
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13 Jul 7:04pm Britain ‘facing highest risk of recession since 2007’
The Guardian
Policy may be constrained by the fact Bank has already deployed its tools to curtail the last recessionBritain is facing the highest risk of a recession since the financial crisis and needs urgent plans to combat the next downturn, according to an alarming assessment of the nation’s economic health. Preparations need to be made to reduce the impact, the study by the
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