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Monday, July 22, 2019
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22 Jul 5:24pm Updated British Airways pilots back August strike
The Guardian
Airline tries to obtain injunction to prevent strike backed by 93% of pilots The travel plans of hundreds of thousands of British Airways passengers face the threat of disruption next month after pilots at the airline voted to go on strike over pay. In the ballot, 93% of BA’s 4,000 pilots voted in favour of taking industrial action after rejecting a three-year pay deal. Strike dates have yet to be announced by the pilots’ union Balpa, which must give two weeks’ notice of any action.
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22 Jul 3:05pm Government delays decision on whether to restrict Huawei
The Guardian
Chinese tech firm’s equipment will continue to be used in UK’s 5G mobile networks for now Huawei equipment will continue to be used in the UK’s 5G mobile networks for now after the government delayed a decision on whether it should be restricted or banned over concerns the Chinese government can use it to spy on countries. Jeremy Wright, the culture secretary, said the UK had no choice because it is still gauging the impact of US sanctions on Huawei.
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22 Jul 1:58pm There must be a point at which HS2 is just too expensive
The Guardian
The CBI and BCC wring their hands at a budget overrun of £30bn – but then keep on insisting it must be built One thing as predictable as an increase in the projected cost of building HS2 is the response from business lobby groups. Sure enough, as the high-speed railway
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22 Jul 1:31pm Video game firms face prosecution over gambling by children
The Guardian
MPs told that betting regulator is prepared to take action Video game developers could be prosecuted if they fail to prevent children gambling
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22 Jul 11:30am Treasury urged to expand credit unions to help vulnerable consumers
The Guardian
Financial Conduct Authority calls for a viable alternative to payday lenders The financial regulator is calling for a government review of credit union rules to give vulnerable consumers a viable alternative to payday lenders. The Financial Conduct Authority said looser laws would allow credit unions to offer a wider range of products and services to customers. It said the move could help higher risk customers who often turn to expensive payday loans to make ends meet.
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22 Jul 10:57am Ted Baker’s former boss Ray Kelvin said to be considering buyout
The Guardian
Fashion chain’s founder quit in March after allegations of inappropriate behaviour Shares in Ted Baker have jumped after reports that the fashion retailer’s founder, Ray Kelvin, was considering teaming up with investors to buy the company. Kelvin
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22 Jul 10:45am Updated Trump calls for US interest rate cut; fears of UK Brexit recession – business live
The Guardian
Rolling coverage of the latest economic and financial news, as the National Institute of Economic and Social Research warns the UK faces a murky future
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22 Jul 10:17am Pub closure rate halves as communities fight back
The Guardian
Data suggests government action on business rates and development may be working The rate at which pubs are disappearing in England and Wales has halved, prompting claims that government measures designed to arrest the decline may be stemming the tide of closures.
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22 Jul 10:05am Volvo recalls more than 500,000 cars worldwide over fire risk
The Guardian
Almost 70,000 vehicles in the UK are affected by problem with plastic part in engine Almost 70,000 Volvo cars are being recalled by the manufacturer in the UK because of a fire risk in the engine. The manufacturer said that a plastic part in the engine has, in rare cases, been liable to melt and deform, resulting in a possible engine fire.
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22 Jul 9:44am No-deal Brexit risk may have already pushed UK into recession, says NIESR
The Guardian
Leaving without deal will ‘throw concrete’ in wheels of British-EU trade, says economist The mounting risk of no-deal
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22 Jul 8:05am Updated Brexit may already have pushed UK into recession – business live
The Guardian
Rolling coverage of the latest economic and financial news, as the National Institute of Economic and Social Research warns the UK faces a murky future
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22 Jul 6:35am Live Nation admits to placing tickets on resale sites
The Guardian
Admission confirms rumours that labels and artists sell live music tickets to secondary market Live Nation, the world’s largest live music firm, has admitted placing tickets for Metallica directly on to resale websites, despite having claimed that it is against ticket touting. In a secret recording of a telephone call between an associate of Metallica, a Live Nation business partner and a senior Live Nation executive, the executive outlined a plan to bypass the regular avenues by which fans buy tickets at face value.
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22 Jul 6:02am Neil Woodford: shares in listed fund fall as it invests £10m in Atom Bank
The Guardian
First major deal since shuttering of Equity Income Fund fails to excite investors Neil Woodford’s stock-market-listed fund has announced its first major investment since the shuttering of its flagship sister vehicle last month. Woodford Patient Capital Trust confirmed on Monday that it was pumping £10m into Atom Bank, keeping its stake at 18%. It is part of a wider £50m fundraising by Atom Bank that also drew investment from the Spanish banking group BBVA and investment funds Perscitus and Toscafund.
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22 Jul 3:55am Updated Markets weighed down by geopolitical tensions and Brexit worries – business live
The Guardian
Rolling coverage of the latest economic and financial news, as tensions in the Gulf push the oil price higher
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22 Jul 3:54am Chinese tech shares leap up to 500% as Nasdaq-style market launches
The Guardian
Star listing of domestic tech firms is seen as an attempt to sidestep US markets in trade war China’s tech scene was handed a fresh vote of confidence as investors piled into Shanghai’s new Nasdaq-style stock exchange and sent shares skyrocketing up to 500%. The launch of the Star listing of domestic tech firms is seen as China’s answer to the US’s Nasdaq, and an attempt to sidestep American markets in its
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22 Jul 2:00am Central banks are facing a lose-lose proposition | Mohamed El-Erian
The Guardian
Unconventional policies may have staved off short-term economic collapse but they may not foster long-term growth In recent years, central banks have made a large policy wager. They bet that the protracted use of unconventional and experimental measures would provide an effective bridge to more comprehensive measures that would generate high inclusive growth and minimise the risk of financial instability. But central banks have repeatedly had to double down, in the process becoming increasingly aware of the growing risks to their credibility, effectiveness and political autonomy. Ironically, central bankers may now get a response from other policymaking entities, which, instead of helping to normalise their operations, would make their task a lot tougher.
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22 Jul 2:00am No prize for guessing this text message is a con
The Guardian
It’s strictly a no win if you fall for one of these two ‘Tesco’ scams
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21 Jul 7:51pm Air travellers may have to pay carbon charge to offset emissions
The Guardian
Planned tax will make public more aware of climate harm caused by flying, ministers hope Air passengers may have to pay an extra “carbon charge” on flights as part of a government initiative to reduce CO2 emissions and tackle the climate crisis. Passengers could choose to pay more for travel tickets, which would then be used to offset greenhouse gas emissions. Or the scheme could work on an “opt out” basis and also be applied to trains, buses and ferries.
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21 Jul 7:01pm UK rail passengers lost out on £100m compensation last year
The Guardian
Travellers told to claim for all delays after only 35% of those eligible made claims in 2017-18 Rail passengers have been urged to claim compensation for every delay they suffer after missing out on an estimated £100m in payouts last year. Transport Focus, the UK industry watchdog, said passengers should send a message to train operators that reliability must keep improving by claiming their full entitlement.
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21 Jul 7:01pm Whirlpool recalls half a million tumble dryers from UK homes
The Guardian
Appliance manufacturer makes official move four years after fire-risk fault discovered The appliance manufacturer Whirlpool will on Monday announce a recall of an estimated 500,000 tumble dryers at risk of
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