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Evening Star News

Three held as police strike in drugs raids (1 hour 14 minutes old)

Three men have been arrested in Sudbury on suspicion of drugs offences after police struck at two properties in the town.

Work begins to bring down Orfordness lighthouse (1 hour 28 minutes old)

Preparatory work has begun to bring down one of Suffolk’s most iconic landmarks, Orfordness Lighthouse.

CCTV appeal after victim left ‘shaken’ by brazen handbag theft (1 hour 41 minutes old)

Police have released CCTV images of two people they would like to speak to in connection with a brazen handbag theft in Ipswich, which left the victim “shaken”.

Cable company promises to repair roads after Ipswich Society’s anger (2 hours old)

The company installing new high-speed fibre cables in Ipswich has promised to restore some pavements in conservation areas - after concerns the wrong materials were used to repair them.

Aggravated burglary suspect released from custody by accident (2 hours old)

An Ipswich man remanded in custody to appear in court charged with aggravated burglary was accidentally released back into the community.

Your chance to send a thank you message to your child’s school and teachers (2 hours old)

Schools across Suffolk are set to close for the summer in the coming days - but the coronavirus outbreak has left many students and parents without the chance to thank their hard-working teachers.

Officers quizzing of black couple on viral video to be investigated (3 hours old)

Police watchdogs are to investigate the controversial questioning of a black couple in Ipswich by officers which saw a video of the incident go viral.

Man arrested in police raid on suspicion of modern slavery (5 hours old)

A man from Clacton has been arrested as part of an investigation by Essex Police’s Modern Slavery and Human Trafficking Unit.

Boy, 15, arrested after serious assault of teenager (5 hours old)

A 15-year-old boy has been arrested on suspicion of causing grievous bodily harm to another teenager who is in hospital after a serious assault in Dovercourt.

Norwich Road reopened after crash which left biker in hospital (5 hours old)

Norwich Road has reopened after being closed while police dealt with a crash between a car and motorbike.

UK homepage

Russia-linked hackers accused of targeting vaccine developers (1 hour 5 minutes old)

UK, US and Canada attribute attacks to group ‘almost certainly’ working for Moscow

Inside Westminster’s coronavirus blame game (11 hours old)

What went wrong with the UK government’s pandemic response and why? As an inquiry looms, the search for a scapegoat is on

UK on track to sell £525bn of debt this year (5 hours old)

Extra £110bn in scheduled gilt issuance set to take total to more than double previous record

Morgan Stanley profits lifted by trading bonanza (3 hours old)

Wall Street bank’s revenues strike record as it avoids loan losses that hit rivals

UK denies that internal market plan will lead to race to the bottom (1 hour 29 minutes old)

SNP attacks proposals on regulatory standards as ‘riding roughshod’ over devolved administrations

How is the virtual recruitment experiment going? (12 hours old)

As offices remain closed, teams are working with new colleagues they have never met in person

Ivanka Trump’s ‘let them eat cake’ economics (5 hours old)

The First Daughter channels Marie Antoinette as she lectures unemployed Americans

The comfort of cash in a time of coronavirus (11 hours old)

Americans have been hoarding cash during the pandemic, presenting the Federal Reserve with an expensive challenge

Thermo Fisher sweetens Qiagen bid by €1bn after hedge fund criticism (1 hour 19 minutes old)

Deal values company at nearly €10.7bn as Covid-19 provides a boon to diagnostic business

© Copyright The Financial Times Ltd 2020. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Business | The Guardian

UK paid employment falls by almost 650,000 as Covid-19 crisis bites (8 hours old)

ONS says number of workers on payroll fell 2.2% from March although rate of decline fell in JuneAnalysis - rising unemployment is becoming less hiddenPaid employment in Britain has plunged by almost 650,000 employees since the onset of the coronavirus pandemic in March, official figures show, as growing numbers of companies cut jobs.According to the Office for National Statistics, the number of payroll employees fell by 2.2%, or 649,000, from March to June. However, it said the rate of decline in employment slowed in June compared with May. Continue reading...

China shares suffer biggest fall since February; US jobless claims still high - business live (1 hour 16 minutes old)

Rolling coverage of the latest economic and financial newsLatest: China’s stocks have slumped 4.8% todayChina avoids recession with 3.2% growth, but retail sales fallCoronavirus UK: 649,000 people lose their jobs during lockdownComing up: ECB meeting and US jobs figuresCoronavirus – latest updatesSee all our coronavirus coverage 3.16pm BST Time for a quick recap.China’s economy has returned to growth, with official figures showing GDP grew by 3.2% year-on-year in April to June. Industrial production strengthened, encouraging Beijing officials to predict they were “confident on the economic rec[...]

Rishi Sunak’s Covid-19 package recycled up to £10bn spending – IFS (2 hours old)

Chancellor’s statement ‘corrosive of public trust’ for passing old funds off as newRishi Sunak has been accused of repackaging up to £10bn of previously announced government spending to form the backbone of his summer statement plan to save jobs during Covid-19.Serving the chancellor with a blunt rebuke, the Institute for Fiscal Studies said it was “corrosive to public trust” for the government to reallocate old funds and pass them off as new money. Continue reading...

Royalties investment firm buys catalogue of Lady Gaga collaborator (1 hour 16 minutes old)

Hipgnosis acquires 100% of RedOne’s songs and recorded music interests, covering 337 tracksA London-listed firm offering investors the chance to make money from the royalties of track by famous artists has struck a deal for the catalogue of the songwriter and producer whose credits include Lady Gaga’s global hits Poker Face and Bad Romance.Hipgnosis has acquired the music catalogue of Grammy-winning producer and songwriter RedOne, who produced six songs on her 2008 debut album, The Fame. RedOne credits also include One Direction, Nicki Minaj, Enrique Iglesias, Shakira and Jennifer Lopez. Conti[...]

Pizza Express set to close up to 75 cafes, risking 1,000 jobs (1 hour 27 minutes old)

Insolvency move linked to competition and coronavirus adding to £1.1bn debts in 2018Coronavirus – latest updatesSee all our coronavirus coveragePizza Express is set to close up to 75 of its restaurants as part of a rescue plan which could put more than 1,000 jobs at risk.The restaurant chain is lining up a company voluntary arrangement (CVA) – an insolvency process which allows it to exit stores and cut rents – linked to talks with bondholders over its heavy debt burden. Continue reading...

Next in final stages of buying UK arm of Victoria's Secret (2 hours old)

Lingerie brand would be second bold acquisition by retailer during coronavirus crisisCoronavirus – latest updatesSee all our coronavirus coverageNext is finalising a deal to take on the UK arm of the lingerie brand Victoria’s Secret, which fell into administration last month.The brand, once renowned for its controversial fashion shows featuring models known as “angels”, would give Next access to a potentially younger consumer. Continue reading...

Rents rise in England but slide in London as Covid-19 affects market (10 hours old)

Property website Rightmove said rents outside London hit record £845 a month in early JulyRents have continued to climb across England, but they are sliding in London as Airbnb owners abandon hopes of attracting holidaymakers and put their properties on the long-term rental market.Property website Rightmove said asking rents outside London hit a record of £845 a month in early July, up 3.4% on the same time last year. Continue reading...

UK banks may have to flag up plans to shut branches or cash machines (2 hours old)

Regulator seeks to safeguard consumer access to cash as branches and free-to-use ATMs disappearBanks and building societies will have to alert regulators if they plan to close branches or cash machines and must prove they considered the impact on consumer access to cash, according to rules proposed by the City regulator.Under draft guidelines from the Financial Conduct Authority (FCA), lenders will also have to show they have explored alternatives to support cash access in areas affected by the closures. Alternatives could include mobile banking hubs, cash delivery, commissioning free-to-use A[...]

Southbank Centre warns of 400 job losses amid coronavirus crisis (7 hours old)

Redundancies likely to affect all areas of organisation including Royal Festival HallCoronavirus – latest updatesSee all our coronavirus coverageThe UK’s largest arts complex, the Southbank Centre, has confirmed 400 jobs are at risk as it enters into talks with staff in an attempt to reduce losses caused by the Covid-19 crisis.A spokesperson confirmed the news after workers were told about the cuts on Wednesday, which could lead to two-thirds of its staff being made redundant. Continue reading...

'Incredible' Boohoo denying knowledge of factory allegations, says MP (16 hours old)

Philip Dunne, chair of parliamentary committee, says it is ‘shameful’ it took pandemic for firm to acknowledge issuesBoohoo has been criticised by the chair of an influential committee of MPs, who said the online fashion firm had failed to address warnings of malpractice at Leicester factories.Philip Dunne, the chairman of the environmental audit committee, which questioned Boohoo co-founder Carol Kane about problems in Leicester factories in November 2018 for a report on the fast fashion industry, has disputed claims the group was not aware of potentially illegal working practices at factorie[...]

Guardian News and Media Limited or its affiliated companies. All rights reserved. 2020

Telecoms

Five Eyes, 5G and America’s self-sabotaging trade wars (4 hours old)

Pushing out Huawei doesn’t come cheap: the main alternatives are more expensive in the west

Vodafone wants 5G auction to be scrapped after Huawei move (12 hours old)

Call to allocate telecoms spectrum to cover cost of replacing Chinese equipment

Google to pour $4.5bn into Reliance’s digital business (23 hours old)

Investment in young Indian company damped by announcement of delay to Saudi Aramco deal

UK orders ban of new Huawei equipment from end of year (1 day old)

Boris Johnson’s government says existing kit must also be stripped from 5G networks by 2027

Why the UK has decided to ban use of Huawei’s 5G kit  (1 day old)

Government concluded that company’s products posed threat to security of UK infrastructure

Britain takes long view with Huawei 5G ban (1 day old)

The government must ensure its China relations remain constructive

Huawei UK chair Lord Browne to step down early (2 days old [14/07/20])

Earlier-than-expected exit coincides with UK move to ban Chinese company equipment

Huawei: security hang-up (2 days old [14/07/20])

Exile for the Chinese group will confirm the ascendancy of rival equipment suppliers

BT sounds alarm over prospect of UK ban on Huawei  (2 days old [13/07/20])

Chief says it would be ‘impossible’ to remove all Chinese group’s kit within 10 years

Huawei growth slows after sanctions and political pressure (2 days old [13/07/20])

Chinese group says profit margin improved as consumer business outpaced carrier unit

© Copyright The Financial Times Ltd 2020. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Technology sector

TSMC: chipper days (3 hours old)

There is ample room for the Taiwanese chipmaker to keep rising

TSMC raises forecasts after reporting 81% jump in profits (4 hours old)

Taiwanese chipmaker says customers are building inventory to guard against potential coronavirus waves

The great Twitter hack (5 hours old)

Some thoughts.

SMIC scores mainland China’s biggest listing in a decade (6 hours old)

Shares in chipmaker pop 246% after Beijing pushes investors to back drive to become self-sufficient

US-EU data sharing deal struck down by European court (7 hours old)

ECJ rules main mechanism for transferring information fails to protect EU citizens’ privacy

Airbnb shakes up management and revives IPO plans (9 hours old)

Core rental business boss to leave as site sees bookings rebound after coronavirus disruption

Twitter hack targets Elon Musk, Joe Biden, Apple and hundreds more (15 hours old)

Bitcoin scam raises new security questions for social media platform

Dell considers VMware spin-off to boost share price (16 hours old)

Plan would be a notable about-turn for founder Michael Dell

Apple wins landmark court battle with EU over €14.3bn of tax payments (16 hours old)

Judges annul ruling by European Commission in blow to competition commissioner Margrethe Vestager

Tech faces $3.5tn cold war costs (21 hours old)

Apple’s €14.3bn tax win, Tesla shares wow, Zoom for Home

© Copyright The Financial Times Ltd 2020. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

BBC News - Business

British Gas workers told to sign new contracts or risk jobs (1 hour 37 minutes old)

Parent Centrica company says a fresh wave of redundancies is a "last resort"

Coronavirus: UK payrolls shrink by 649,000 jobs in lockdown (4 hours old)

Official figures reveal a drop in the number in employment, with young people hard hit.

Coronavirus: Chances of getting a loan or mortgage are squeezed (3 hours old)

Lenders say they will reduce the availability of mortgages, loans and other credit despite demand rising.

Boohoo told to address exploitation claims amid criticism (6 hours old)

MP Philip Dunne says it is "shameful" it took the pandemic for the retailer to acknowledge issues.

Coronavirus: 'My once-in-lifetime holiday hasn't been refunded' (6 hours old)

A couple tell of their holiday refund "panic" as consumer group Which? calls for action from regulators.

EU-US Privacy Shield for data struck down by court (4 hours old)

The EU-US Privacy Shield, governing the transfer of citizens' data, has been declared invalid.

Coronavirus: Chinese economy bounces back into growth (7 hours old)

China's economy grew 3.2% in the second quarter of this year following a record coronavirus-related slump.

Jobless figures 'not showing full extent of crisis' (13 hours old)

Unemployment increased by 34,000 in April to reach 1.3 million, according to official data.

Banks urge 'student loans style' plan to avoid job cuts (15 hours old)

UK banks fear up to three million jobs could be lost if firms cannot defer payments on coronavirus loans.

Major US Twitter accounts hacked in Bitcoin scam (6 hours old)

Twitter says a hacking attack on employees was to blame for one of its biggest ever security lapses.

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UK equities

Income funds retreat from banks and move to tobacco in hunt for dividend (1 day old)

Portfolio managers shift to defensive, short-term positions in companies with guaranteed payouts

Wall Street advance cut short as tech shares give up gains  (2 days old [13/07/20])

Tesla rise briefly makes it 10th most valuable publicly traded US company

Stock market rally stalls as investors hunt for safer assets  (8 days old [07/07/20])

US Treasury sells three-year notes with a record-low yield

Are UK housebuilders really on solid foundations? (19 days old [27/06/20])

Market faces obvious strains, but analysts are almost uniformly bullish

Stimulus hopes lift Wall Street as US coronavirus cases rise (23 days old [22/06/20])

Investor sentiment tested by surge in infections in Asia, Europe and Americas

Once-bitten BP investors should be twice shy (26 days old [20/06/20])

Twenty years on from an ill-fated rebrand, the energy company has a new vision

Retail exuberance does not explain big rally in stocks (33 days old [13/06/20])

A bull market such as this relies on contrarianism, not inexperience

Stocks claw back losses with virus cases in focus (33 days old [12/06/20])

S&P 500 ends 1.3% higher to close out worst week since March

US stocks slide nearly 6% on worst day since March  (34 days old [12/06/20])

Investors spooked by uptick in virus cases and gloomy prognosis from the Federal Reserve

London can take heart from Unilever decision (34 days old [11/06/20])

The consumer group’s move is a feather in the cap for the City

© Copyright The Financial Times Ltd 2020. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Opinion

Rebellious cities find way to defy an authoritarian centre (1 hour 25 minutes old)

In Turkey and elsewhere, municipalities and mayors are preserving democratic values

Crisis offers a chance to rewrite accounting to include impact (3 hours old)

Investors need to know companies’ social and environmental effects

TSMC: chipper days (3 hours old)

There is ample room for the Taiwanese chipmaker to keep rising

Srebrenica’s wounds remain unhealed after 25 years  (4 hours old)

Bosnian Muslims remember the massacre and lament the growing narrative of genocide denial

The great Twitter hack (5 hours old)

Some thoughts.

Ivanka Trump’s ‘let them eat cake’ economics (5 hours old)

The First Daughter channels Marie Antoinette as she lectures unemployed Americans

The UK’s food strategy cannot be left to the market (5 hours old)

Standards must be maintained through trade negotiations, with action from retailers, government and farmers

The EU’s economic case against Apple and Ireland (5 hours old)

Brussels has lost a battle but not the war

Boohoo should serve as a wake-up call for ESG (6 hours old)

Investors must do more to hold fast-fashion chains to account

The IMF should turn to special drawing rights in its Covid-19 response (6 hours old)

An issue of SDRs would help developing countries inadequately covered by current financial safety nets

© Copyright The Financial Times Ltd 2020. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.

Ipswich