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Overhaul at Royal Mail sets scene for break-up 11 Jan 6:38pm Updated Overhaul at Royal Mail sets scene for break-up
Simon Thompson's appointment as chief executive of Royal Mail Group's UK arm only - and not the whole business - will fuel speculation that the historic company could be split.
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ALEX BRUMMER: Signing off UK aerospace 11 Jan 6:34pm Updated ALEX BRUMMER: Signing off UK aerospace
By always placing short-term shareholder value above broader stakeholder and national interest, wheeler-dealer Rudd has left UK plc a poorer place.
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11 Jan 5:57pm Covid-19: New test rule for UK arrivals from Friday
BBC
International travellers will have to take a Covid test up to 72 hours before departing.
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US fund joins bidding war for Signature Aviation 11 Jan 5:04pm US fund joins bidding war for Signature Aviation
BBC
Global Infrastructure Partners is offering 405p per share in cash for the private jets provider, eclipsing the 380p per share or £3.2billion offered by a consortium of Gates and Blackstone last week.
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MARKET REPORT: JD Sports sees sales boom 11 Jan 5:01pm MARKET REPORT: JD Sports sees sales boom
BBC
Even though many of its bricks-and-mortar stores around the world were closed, the chain said revenues were up 5 per cent in the 22 weeks to January 2 as customers flocked to its online shop.
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Brexit Britain wins backing of Telefonica boss 11 Jan 5:01pm Brexit Britain wins backing of Telefonica boss
BBC
Alvarez-Pallete, the chief executive of the Spanish giant, which owns O2 in the UK, welcomed the Brexit deal signed over Christmas, saying it 'marks an exciting new chapter in Britain's history'.
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Marks and Spencer buys upmarket fashion brand Jaeger 11 Jan 5:01pm Marks and Spencer buys upmarket fashion brand Jaeger
BBC
The High Street giant is taking on the Jaeger brand and stock which it will sell in M&S stores and online. But none of the remaining 67 Jaeger stores will be saved - putting hundreds of jobs at risk.
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Deliveroo expanding thanks to lockdown demand for takeaway 11 Jan 5:01pm Deliveroo expanding thanks to lockdown demand for takeaway
BBC
The firm will reveal plans to expand to another 100 towns and cities this year, meaning it will cover another 4m potential customers.
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Massive drop in Heathrow traffic sparks industry fears 11 Jan 5:01pm Massive drop in Heathrow traffic sparks industry fears
BBC
Heathrow lost three quarters of its passengers in 2020, with only 22m travelling through the UK's busiest airport, as the pandemic left planes grounded.
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11 Jan 4:23pm UK economy ‘will get worse before it gets better’, warns Rishi Sunak
The Independent
‘The road ahead will be tough,’ says chancellor in update to House of Commons
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11 Jan 3:55pm Ford ends decades of Brazil manufacturing
BBC
The US car giant is closing its last three Brazilian factories, with a loss of 5,000 jobs.
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11 Jan 1:58pm Marks & Spencer buys Jaeger fashion brand from administrators
The Guardian
Undeclared price paid in deal that leaves fate of Jaeger’s employees also uncertain Marks & Spencer has
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11 Jan 1:38pm Rishi Sunak warns UK economy will get worse before it gets better
The Guardian
Tougher Covid rules will have impact before vaccine improves outlook, says chancellor
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Six in ten pensioner homeowners are failing to claim entitled benefits 11 Jan 1:21pm Updated Six in ten pensioner homeowners are failing to claim entitled benefits
The Guardian
Some 42 per cent of eligible homeowners are failing to claim any benefit at all, losing out on £830 a year on average, according to a report by Just Group,
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11 Jan 1:01pm Parler social network sues Amazon for pulling support
BBC
The social network has hit back asking a federal judge to order it to be reinstated.
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11 Jan 1:00pm Marks & Spencer snaps up Jaeger fashion brand
BBC
M&S is buying the brand out of administration, but not Jaeger's scores of shops and concessions.
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New cash fear as 167 bank branches set to be axed 11 Jan 12:38pm Updated New cash fear as 167 bank branches set to be axed
BBC
Experts fear that unless urgent action is taken by banks, payment providers, regulators and the Government, the country's network of free-to-use high street banking facilities will disintegrate.
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11 Jan 12:26pm Updated Coronavirus: Morrisons to ban shoppers who refuse to wear face masks
BBC
People who refuse to wear face coverings that are not medically exempt will not be allowed to shop inside.
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11 Jan 12:20pm Morrisons will refuse to serve customers without Covid masks
The Guardian
Supermarket breaks rank with rivals amid government concerns over lockdown compliance
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11 Jan 12:11pm Updated Financial watchdog warns of risky cryptoasset investments as bitcoin tumbles – business live
The Guardian
Rolling coverage of the latest economic and financial news
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11 Jan 11:45am Cut UK interest rate below zero to aid growth, says Bank policymaker
The Guardian
Silvana Tenreyo says negative rates worked elsewhere and would help UK recovery from Covid slump Cutting the UK’s official interest rate below zero would be good for growth and could be done without crippling commercial banks, a Bank of England policymaker has said. Silvana Tenreyro, one of the nine members of Threadneedle Street’s monetary policy committee, said negative rates had worked in other countries and would assist the UK’s recovery from its Covid-19 slump.
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SMALL CAP SHARE IDEAS: Great Western Mining 11 Jan 11:34am SMALL CAP SHARE IDEAS: Great Western Mining
The Guardian
Shelved (but not forgotten) is its interest in copper. Instead, the group is concentrating on gold and silver exploration and production in the aptly named Mineral County, Nevada.
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11 Jan 10:07am Bitcoin: Cryptocurrency investors should be ‘prepared to lose all their money’, warns watchdog
The Independent
Prices of digital currencies have soared in recent weeks as speculators chase high returns, but regulator says consumers face significant risks
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11 Jan 8:52am Dr Martens plans to float on stock market for first time
The Independent
Bootmaker’s private equity owners plan to sell down stake and offer shares to the public
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Cerno Global Leaders fund aims to buy into weakness and sell into strength 11 Jan 8:13am Updated Cerno Global Leaders fund aims to buy into weakness and sell into strength
The Independent
The fund's performance numbers are strong. Since launch, it has delivered an overall return of 55 per cent - comfortably ahead of the average for global investment funds (a return of 37 per cent).
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MIDAS SHARE TIPS: Selco-owner Grafton can build profits 11 Jan 8:12am Updated MIDAS SHARE TIPS: Selco-owner Grafton can build profits
The Independent
The building group is a well-run business with plenty of potential here and overseas. At £9.57, the shares are a good, long-term buy.
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11 Jan 8:11am Passengers at Heathrow down by 73% in 2020 due to Covid
The Guardian
Just 21.1m travellers passed through London airport – smallest number since 1975 Passengers at Britain’s biggest airport slumped by 73% in 2020 to the smallest annual number since 1975 due to the travel restrictions caused by the Covid-19 pandemic. Just 22.1 million travellers passed through Heathrow last year, 59 million fewer than in 2019. December figures were higher than November, rising to 1.1 million as Britain came briefly out of lockdown, but finished 83% below the previous December as the new variant of Covid-19 led to more border closures and halted many flights.
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MIDAS SHARE TIPS UPDATE: Braemar up 50% in eight months 11 Jan 8:09am Updated MIDAS SHARE TIPS UPDATE: Braemar up 50% in eight months
The Guardian
Cautious shareholders may choose to bank some profits now and sell at £1.49. Longer-term investors should hold on. Braemar is well regarded in the global shipping market.
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JCB launches new pothole-repairing vehicle that can fill one in 8 minutes 11 Jan 7:35am Updated JCB launches new pothole-repairing vehicle that can fill one in 8 minutes
The Guardian
British digger maker JCB says the machine halves the cost of current pothole fixing machinery used by councils and highways agencies across the country,
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11 Jan 7:29am Dr Martens planning stock market debut in London
The Guardian
Footwear brand expected to float at least 25% of business as sales surge during pandemic The British footwear brand Dr Martens is planning its stock market debut in London, more than 60 years after its first pair of UK-made boots were stitched together in Northamptonshire. Best known for its 1460 boot featuring its trademark yellow stitching and chunky soles, the company expected to float at least 25% of the business. If the listing is approved, it will be one of first major initial public offerings (IPO) on the UK market this year.
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Dormant pensions and investments to be handed to charity 11 Jan 7:23am Dormant pensions and investments to be handed to charity
The Guardian
An estimated £800m could be raised by expanding the current scheme, which has raised £745m from inactive bank and building society accounts since 2011.
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11 Jan 7:15am Cryptoasset investing? Be prepared to lose the lot, warns watchdog
BBC
The Financial Conduct Authority issues a striking warning to investors in unregulated cryptoassets.
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11 Jan 7:07am Royal Mail: Can new boss Simon Thompson turn it around?
BBC
Simon Thompson, who ran the NHS Test and Trace app, takes over after a tough year for the post service.
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11 Jan 6:38am Updated Heathrow boss says ‘aviation industry is fighting for survival’ as numbers slump
The Independent
One runway and two terminals at Heathrow have been closed to save cash
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11 Jan 6:03am Prince Charles urges businesses to sign Terra Carta pledge to put planet first
The Guardian
Magna Carta-style project aims to raise £7bn to ‘bring prosperity into harmony with nature’ Prince Charles is urging businesses to invest in the health of the planet and people at the launch of a sustainable finance charter backed by several international institutions. Evoking the history of the Magna Carta, the Prince of Wales is launching the
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EasyJet secures £1.4bn state-backed bailout 11 Jan 5:29am Updated EasyJet secures £1.4bn state-backed bailout
The Guardian
The firm said the five-year loan had been underwritten by a group of banks and part-guaranteed by UK Export Finance, a government agency.
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11 Jan 5:09am Updated Royal Mail: Former Test and Trace director named as new boss
BBC
Simon Thompson, who also worked for online grocer Ocado, takes over after a tumultuous year.
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11 Jan 5:00am All at sea: half a million seafarers stranded by the pandemic – in pictures
The Guardian
Up to 400,000 seafarers have been trapped on board cargo ships during the Covid pandemic, some for more than 18 months Chosen from among 3,000 images submitted to a photography competition run by
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UK fund market saw record high sales of £8.3million in November 11 Jan 4:40am UK fund market saw record high sales of £8.3million in November
The Guardian
Global Equity funds were the biggest winner, with net retail sales of £1.7billion, but UK All Companies funds continued to struggle ahead of the Brexit deal.
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Balance transfer credit cards: Some banks boost interest-free deals 11 Jan 4:36am Balance transfer credit cards: Some banks boost interest-free deals
The Guardian
Sainsbury's Bank now offers the best 0% deal on the market, offering 29 months interest-free, after reopening its doors to non-Nectar customers last October.
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11 Jan 4:32am Updated Dr Martens kickstarts plan to join stock market
BBC
The current owner of the footwear brand is considering making shares in the firm available to investors.
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Loft conversion or extension: which one will add the most value to my home? 11 Jan 4:16am Updated Loft conversion or extension: which one will add the most value to my home?
BBC
My partner and I want to increase the space in our home, but we are torn between converting our loft and extending into the garden. How much will each one cost and where do we begin?
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11 Jan 3:47am Royal Mail appoints Simon Thompson as chief executive
The Guardian
Ex-Ocado executive, who worked on NHS Test and Trace, tasked with £1.8bn overhaul Royal Mail has appointed a former Ocado executive as its new boss, putting him in charge of a sweeping overhaul of the postal business. Simon Thompson, who was already a non-executive on the Royal Mail board and worked on the NHS test-and-trace programme, is stepping into the role immediately.
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Can an architect and builder visit my house in lockdown? 11 Jan 3:38am Updated Can an architect and builder visit my house in lockdown?
The Guardian
We moved home last summer into a house that needs totally refurbishing and extending. Can we still do this in the new lockdown, as architects and builders would need to visit our home?
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11 Jan 3:15am Parler social network drops offline after Amazon pulls support
BBC
The platform had been reliant on Amazon's cloud computing service, which has pulled its support.
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RUTH SUNDERLAND: Covid loosening baby boomer dominance 11 Jan 3:13am Updated RUTH SUNDERLAND: Covid loosening baby boomer dominance
BBC
Demographics will have a huge effect on the UK in the coming years. The baby boomer stranglehold is being broken. Slowly, perhaps, but the coronavirus pandemic will speed up the process.
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11 Jan 3:00am The City of London is still eerily empty: will workers and shoppers ever return?
The Guardian
The Square Mile has been affected more than most districts by the Covid pandemic. We talk to firms large and small about the future The City of London has survived fire and plague in its centuries-long history. But the coronavirus pandemic has emptied its streets of office workers, shoppers and tourists, leading some to question whether the Square Mile will ever return to the way it was before Covid. The first working week of the new year has done little to break the silence in the capital’s financial district. Even if the vaccines programme allows restrictions to be lifted in the spring, few expect office staff to spend the entire working week at their desks in future.
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11 Jan 2:42am Royal Mail: Former Ocado executive named as new boss
BBC
Simon Thompson, who has also worked for NHS Test and Trace, will begin his role immediately.
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My late dad qualified for winter fuel payment - will it still be paid? 11 Jan 2:42am My late dad qualified for winter fuel payment - will it still be paid?
BBC
My dad passed away in November. He was entitled to the fuel payment, and his confirmation letter was received, but I have now closed all bank accounts to get the finances sorted.
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11 Jan 2:32am Coronavirus: At least 250,000 small firms face collapse without further government help, report warns
The Independent
Record number of small firms faced going under even before third lockdown, Federation of Small Businesses says
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11 Jan 2:00am Can my landlord force me to let in potential buyers during lockdown?
The Guardian
I have been told I will have a month to get out once rented flat is sold
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11 Jan 1:01am Online shopping spree boosts Christmas income at Post Office
The Guardian
Mail and parcel services rose 17% as fast-track Drop & Go service surges A
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Post Office gets 17% Christmas lift due to pandemic 10 Jan 7:01pm Post Office gets 17% Christmas lift due to pandemic
The Guardian
The network, which has more than 11,500 branches, reported sales of £66.3m between November 30 and December 27 - up from £56.7m a year earlier.
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10 Jan 7:01pm UK firms fear twin force of Covid plus Brexit will force them under
The Guardian
More than 250,000 small businesses expect to fail in 2021 as state support ‘dwindles’ Small businesses and manufacturers are bracing themselves for a fight for survival this year, according to fresh survey data, as they negotiate the twin threats of
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