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16 Feb 5:19pm Citi loses fight to recoup mistaken payments
BBC
The bank had hoped to recover some of the nearly $900m it erroneously wired in August.
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Astrazeneca boss Pascal Soriot is the £90m vaccine hero 16 Feb 5:10pm Astrazeneca boss Pascal Soriot is the £90m vaccine hero
BBC
The chief executive's 2020 package - his biggest yet - is up to £15.4m from £15.3m the previous year. It comes after his decision to join forces with Oxford University to produce a Covid-19 vaccine.
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MARKET REPORT: Mining investors strike gold as dividends surge 16 Feb 5:04pm MARKET REPORT: Mining investors strike gold as dividends surge
BBC
BHP will pay shareholders a record half-year dividend of 72p per share after a rally in iron ore prices helped profits rise 17 per cent to £7bn. It means the company, will hand out £3.7bn in total.
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Bitcoin soars to $50,000 as mainstream appeal grows 16 Feb 5:02pm Bitcoin soars to $50,000 as mainstream appeal grows
BBC
Last week the currency climbed after Elon Musk's (pictured) Tesla invested £1.1bn in bitcoin, while the oldest bank in the US, BNY Mellon, confirmed it would invest for the first time.
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Serco buys US defence contractor Whitney, Bradley & Brown for £212m 16 Feb 5:00pm Serco buys US defence contractor Whitney, Bradley & Brown for £212m
BBC
The British company, which is among the contractors behind NHS Test and Trace, said its takeover of Whitney, Bradley & Brown could open the door to the Pentagon.
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16 Feb 4:25pm Updated Neil Woodford relaunch plans spark call for inquiry
BBC
Activist Gina Miller calls for investigation into Woodford funds collapse and response.
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16 Feb 4:24pm Updated UK businesses and scientists sceptical over Covid vaccine certificate proposals
The Independent
Downing Street rules out requirements for proof of vaccination but says ‘up to businesses’ over what rules to introduce
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16 Feb 2:31pm Hargreaves Lansdown co-founder cashes in £300m stake
The Guardian
Sale by Peter Hargreaves, a self-made billionaire and divisive figure, amounts to a sixth of his holding Peter Hargreaves, the self-made billionaire who co-founded
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16 Feb 2:13pm British Gas to bump up energy bills by £97 a year for millions
The Guardian
Move expected to hit 2.3 million customers who use standard gas and electricity tariff Millions of British Gas customers will be asked to pay almost £100 a year more for their gas and electricity after the regulator lifted its cap on energy bills. The UK’s biggest energy supplier confirmed that it would raise the price of its standard variable energy tariff by £97 a year,
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16 Feb 1:44pm Departing Glencore chief reinstates $1.6bn dividend despite $1.9bn loss
The Guardian
Ivan Glasenberg, who will step down after 20 years, reinstates dividend after strong finish to 2020 Mining veteran Ivan Glasenberg delivered his final financial results as chief executive of Glencore by reinstating a dividend of $1.6bn (£1.15bn) for shareholders, despite reporting a net loss of $1.9bn for last year. Glasenberg will step down after 20 years as boss of the mining firm this June after a difficult 2020 in which Glencore was forced to scrap its $2.1bn dividend in August and write down the value of its assets by $5.9bn.
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16 Feb 1:38pm TUC calls on Raab to reject Australian candidate to lead OECD
The Guardian
Trade union body says Mathias Cormann would set back fight against poverty and the climate crisis The TUC has urged the UK foreign secretary to reject
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16 Feb 1:38pm Medicinal cannabis firm buoyed by London stock market debut
The Guardian
Israeli company Kanabo sees shares almost quadruple as it raises £6m for insomnia treatment Shares in a medicinal cannabis company, dubbed “the cannabis Nespresso”, almost quadrupled in value on their trading debut on the London Stock Exchange on Tuesday as investors scrambled to buy into the “wellness weed” market. Kanabo, an Israeli company that makes vaporised marijuana pods, saw its shares rise more than 292% to close at 18.5p. The shares, which launched at 4.75p, hit a high of 20.5p earlier in the day.
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16 Feb 1:16pm Updated Global markets at record highs; bitcoin hits $50,000 – business live
The Guardian
Rolling coverage of the latest economic and financial news
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16 Feb 1:15pm Six in 10 pubs will stay shut even if outdoor drinking is allowed, industry warns
The Independent
Almost 30,000 pubs will remain shut if rumoured plans for an Easter Weekend re-opening are enacted, says trade body
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REE Automotive opens new engineering centre in Warwickshire 16 Feb 11:43am Updated REE Automotive opens new engineering centre in Warwickshire
The Independent
The Israeli company said it would invest about £66million and create around 200 jobs advancing its electric vehicle platform technology over the next few years at its facility.
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16 Feb 11:15am Updated Travel industry demands escape route as hotel quarantine begins amid airport concerns
The Independent
Holiday firms say they are ‘united in outrage’ at Grant Shapps’s warning against booking travel, as Heathrow calls for some flights to be cancelled if queues build up
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Emerging markets are already on the road to recovery 16 Feb 10:48am Updated Emerging markets are already on the road to recovery
The Independent
Since stock markets plunged last March, an index of the biggest companies in emerging markets has outperformed US companies by close to 17 per cent.
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16 Feb 10:15am Bitcoin hits new record of $50,000
BBC
The digital currency has gained 72% so far in a volatile 2021.
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Stamp duty holiday extension: How likely is it? 16 Feb 9:57am Updated Stamp duty holiday extension: How likely is it?
BBC
Extending the stamp duty holiday by six weeks - a move chancellor Rishi Sunak is said to be considering - would save home buyers in England a further £1bn, according to new predictions.
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Sky bills hike will see bills rise by up to £72 per year 16 Feb 9:37am Updated Sky bills hike will see bills rise by up to £72 per year
BBC
The hikes are capped at a £6 a month rise, which will affect 8% of customers, the average increase comes in at around £3 per month, or £36 a year.
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British Gas is the first of the Big Six to announce its hiking its prices for default customers 16 Feb 9:35am Updated British Gas is the first of the Big Six to announce its hiking its prices for default customers
BBC
British Gas is the first of the big energy firms to announce it will be hiking its prices as of April, following the price cap announcement.
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16 Feb 8:58am Former Goldman Sachs analyst and brother charged with insider dealing
The Guardian
Mohammed Zina and his brother Suhail, who worked at Clifford Chance, face six charges Two brothers who worked at Goldman Sachs and leading City law firm Clifford Chance have appeared in court charged with insider dealing and fraud. Mohammed Zina, 32, who worked as an analyst at Goldman Sachs, and his brother Suhail Zina, 33, who worked as a solicitor at Clifford Chance, appeared at Westminster magistrates court on Tuesday charged with six offences of insider dealing and three offences of fraud by false representation.
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Hydrogen-fuelled homes are being built in Gateshead 16 Feb 8:45am Hydrogen-fuelled homes are being built in Gateshead
The Guardian
The houses include hydrogen appliances such as boilers, hobs, cookers and fires that release no carbon emissions - giving a glimpse into the potential home of the future.
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16 Feb 8:36am Asda: How to buy a £6.8bn supermarket for £780m
BBC
Asda has new owners - but they are borrowing £4bn to finance the deal. Will the debt burden be too great?
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16 Feb 8:08am eBay’s £6.5bn Gumtree deal could push up fees for online sellers, says competition watchdog
The Independent
Move ‘could reduce consumer choice, increase fees or lower innovation in the supply of platforms that allow people to buy and sell goods online’, says Competition and Markets Authority
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16 Feb 7:57am Gumtree Shpock tie-up could raise fees and reduce choice, warns watchdog
BBC
Competition watchdog fears sale of marketplace Gumtree by eBay to owner of Shpock could raise prices.
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16 Feb 7:38am Updated Global markets at record highs amid stimulus and recovery hopes – business live
The Guardian
Rolling coverage of the latest economic and financial news
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16 Feb 7:27am Most UK pubs could not reopen under April beer garden plan, says industry
The Guardian
Trade body says many pubs cannot use outdoor area if Covid restrictions on indoor movement persist
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16 Feb 7:19am Ebay’s £6.5bn Gumtree deal could push up fees for online sellers, says competition watchdog
The Independent
Move ‘could reduce consumer choice, increase fees or lower innovation in the supply of platforms that allow people to buy and sell goods online’, says Competition and Markets Authority
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16 Feb 5:46am Coventry seeks permission for new electric car battery gigafactory
The Independent
Project could attract £2bn in investment and create thousands of jobs
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New Mr Men coins: How much do they cost and will they be in your change? 16 Feb 5:45am Updated New Mr Men coins: How much do they cost and will they be in your change?
The Independent
The Royal Mint has kicked off its latest commemorative coin collection featuring characters from children's books with the launch of a £5 piece picturing Mr Happy from the Mr Men.
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16 Feb 5:33am Gumtree Shpock tie-up could raise fees and reduce choice warns watchdog
BBC
The competition watchdog fears the sale of Gumtree by eBay to the owner of Shpock could lead to higher prices.
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16 Feb 5:27am Updated Covid: Rapid tests could help reopen nightclubs, PM suggests
BBC
Boris Johnson suggests testing clubbers and theatregoers to reopen venues that have been closed since March.
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16 Feb 5:13am Virgin Wines to float for about £100m next month
The Guardian
Company follows Deliveroo and Moonpig in stock market debut after Covid crisis drives spending online Virgin Wines is to float on the London Stock Exchange next month with a valuation of about £100m as the Covid-19 pandemic increases demand for its home delivery business model. The company, bought out of Sir Richard Branson’s Virgin group in 2005, mostly sells wine through its WineBank and Wine Plan subscription schemes, but also on a pay-as-you-go basis. It has 169,000 active customers, of which 147,000 are members of its subscription schemes.
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Global stock markets soar amid optimism the pandemic can be beaten. 16 Feb 4:05am Updated Global stock markets soar amid optimism the pandemic can be beaten.
The Guardian
In London the FTSE 100 finished up 166.32 points at 6756.11 - the highest level for six weeks but still 14 per cent below the record levels of 2018. At the same time the FTSE 250 climbed 381.43 points.
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Best current accounts: First Direct brings back £100 switching bonus 16 Feb 3:25am Updated Best current accounts: First Direct brings back £100 switching bonus
The Guardian
First Direct has brought back its £100 switching bonus for newcomers as the bank looks to snap up current account customers after closing to new applicants for a large portion of last year.
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Online property auctions: Tips for bidding on a home 16 Feb 3:22am Updated Online property auctions: Tips for bidding on a home
The Guardian
Covid has put paid to traditional auctions - so for the last year, budding buyers have been going online in search of a property bargain instead.
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16 Feb 2:07am Phase out furlough gradually and keep universal credit uplift, says IFS
The Independent
Continued support needed as economy recovers, says think tank
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16 Feb 2:00am Is it all talk and no action over Lastminute.com refunds?
The Guardian
Many customers are not getting their money back despite pledges by the Competition & Markets Authority
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15 Feb 10:28pm New WTO boss warns against vaccine nationalism
BBC
Ngozi Okonjo-Iweala says rich countries should not be allowed to vaccinate their people as poorer countries wait.
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15 Feb 7:02pm 450,000 families ‘behind on rent because of Covid’
BBC
One in 20 private renters say they have been refused rent reductions, a report says.
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15 Feb 7:01pm Force banks to let customers block gambling transactions, Monzo tells ministers
The Guardian
Government urged to use law review to remove obstacles for people keen to stop betting The government should force banks to let customers block all betting transactions, according to proposals led by the online lender Monzo, which wants gambling firms to hand over data to make sure the system is watertight. In a letter to the sports minister, Nigel Huddleston, who is leading a
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15 Feb 7:01pm Calls for post-Brexit reforms of UK competition law
The Guardian
Tory MP John Penrose said ministers needed to update UK’s consumer institutions to reflect digital economy
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15 Feb 7:01pm First UK homes with hydrogen boilers and hobs to be built by April
The Guardian
Government says two properties in Gateshead will offer public a glimpse of the ‘potential home of the future’ The UK’s first homes to be fitted with boilers and hobs that run on hydrogen rather than fossil fuel gas will be built in Gateshead by April. The semi-detached houses in the north-east will use 100% hydrogen for heating and cooking in appliances including boilers, hobs, cookers and fires under a new government scheme intended to offer the public a glimpse into “the potential home of the future”.
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