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UK borrowing costs suffer historic rise after hit to gilts (12 hours old)

Ten-year yields set for biggest ever monthly increase as fiscal worries trigger ‘extraordinary’ sell-off

Pound edges higher in Asian trading after dramatic fall (4 hours old)

Recent tumble has left sterling matching year-to-date losses of Japan’s yen

UK suffering ‘drama discount’ on business investment (3 hours old)

There have been many theatrical policy twists since Brexit — and the latest is a real humdinger

Kwarteng’s fiscal thinking is put to the test (10 hours old)

His rightwing economic agenda has been doing the rounds in Tory think-tanks for years

Kwarteng’s policies won’t get inactive Britain working again (2 hours old)

The labour force needs investment in health, social care and childcare

The cost of China’s information vacuum (2 hours old)

Reduced access for foreign experts is making it even harder for governments to understand decision-making in Beijing

Kwarteng faces growing Tory criticism after sterling slides (12 hours old)

MPs report ‘dire’ mood as party braces for public backlash over rising interest rates

UK business from airlines to brewers braced for higher costs as sterling falls (19 hours old)

Interest rate rises also weighing on industries such as housebuilding

China growth to fall behind rest of Asia for first time since 1990 (5 hours old)

World Bank is latest financial institution to slash Chinese economic forecast

© Copyright The Financial Times Ltd 2022. "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

Closing UK furlough scheme this autumn is a mistake, says NIESR (790 days old [28/07/20])

Thinktank says ending Covid-19 wage subsidy scheme from August could cost 1.2m jobsThe government closing its furlough scheme this autumn is a “mistake” that will drive up unemployment by 1.2 million by Christmas, one of the UK’s leading economics thinktanks has warned.Sounding the alarm over the mounting risk to jobs, the National Institute of Economic and Social Research (NIESR) said extending the wage subsidy scheme until the middle of next year would dramatically cut the number of redundancies across Britain and would probably pay for itself. Continue reading...

Boohoo vows to 'act decisively' on lawyers' review of UK supply chain (790 days old [28/07/20])

Retailer faced allegations that factories making its clothes in Leicester were paying workers below minimum wageThe online fashion retailer Boohoo has promised to “act decisively” on any recommendations made by lawyers investigating its UK supply chain, after it faced allegations that factories making its clothes in Leicester were paying workers below the minimum wage. So far, the company has not committed to publishing the full report.The independent review is being led by Alison Levitt QC, the former head of law firm Mishcon de Reya’s white-collar crime unit, and on Tuesday the company said [...]

Selfridges to cut 450 jobs as Covid-19 causes 'toughest year' (790 days old [28/07/20])

Redundancies at department store chain follow 700 job losses at Harrods this monthCoronavirus – latest updatesSee all our coronavirus coverageSelfridges is to cut 450 jobs across its department stores, in the latest blow to UK high street retailers hit hard by the coronavirus pandemic.The cuts represent 14% of its workforce and Anne Pitcher, group managing director, said it was the “toughest decision we have ever had to take”. Selfridges operates four department stores in the UK including its London flagship on Oxford Street, as well as a website. Continue reading...

Brexit will deliver double shock to UK economy, study finds (790 days old [28/07/20])

Exclusive: LSE report says even sectors unscathed from coronavirus crisis will be severely affectedA Brexit hit is looming for sectors that have emerged relatively unscathed from the Covid-19 pandemic, analysis by the London School of Economics suggests.The LSE report says Brexit will deliver a double shock to the economy – with business conditions worsening for those sectors that have survived the impact of coronavirus and lockdown measures – whether Boris Johnson secures a deal with the EU or not. Continue reading...

BA cabin crew warn of 'immediate' strike over plans to cut 12,000 jobs (790 days old [28/07/20])

Trade union accuses airline of setting out to fire and rehire thousands of workers on less favourable termsBritish Airways cabin crew have warned the airline to expect an “immediate” strike over plans to cut up to 12,000 jobs following the collapse in demand for air travel because of the coronavirus pandemic.Unite, the trade union which represents thousands of BA employees including cabin crew, engineers and maintenance staff, accused the airline of planning to “fire and rehire” thousands of its workers on reduced terms. Continue reading...

Billionaire bosses to feel the heat over tech giants' massive wealth and power (790 days old [28/07/20])

Extraordinary hearing will see some of the richest men in history called to account for their firms’ market dominanceSome of the richest men in history representing the most valuable companies ever created will be grilled by Congress on Wednesday , as US authorities get increasingly serious about whether tech giants Amazon, Apple, Facebook and Alphabet have become too powerful. Related: Clashes in Portland as Trump’s actions light fuse under protests in other cities Continue reading...

Hong Kong property tycoon pitches new city idea to Ireland (790 days old [28/07/20])

Ivan Ko hopes to find site between Dublin and Belfast to host 50,000 fellow HongkongersA Hong Kong property tycoon wants to build a city in Ireland to host 50,000 emigrants from the semi-autonomous city.Ivan Ko, founder of the Victoria Harbour Group (VHG), an international charter city investment company, hopes to find a 50 sq km site between Dublin and Belfast to create a new city, named Nextpolis, from scratch. Continue reading...

UK broadband users to save £270m after Ofcom price review (790 days old [28/07/20])

Regulator finds 40% of customers are out of contract and most are paying too muchMillions of customers are in line to share in savings of more than £270m a year on the cost of their broadband bills, after Ofcom reached agreement with companies on pricing changes and commitments to offer better deals when consumers’ contracts come to an end.A report released by the telecoms and media regulator found that about 40% of UK broadband customers, 8.7 million, are out of contract and most of them are paying higher prices than they could be if they struck a new deal or changed providers. On average, th[...]

BAME representation in UK's top jobs has barely risen in past three years (790 days old [28/07/20])

Colour of Power survey finds issue not addressed despite government-backed targetsThe proportion of black, Asian and minority ethnic people in some of the 1,100 most powerful jobs in the UK has barely moved over the past three years, according to a study that highlights the lack of non-white representation across key roles.Only 51 out of the 1,097 most powerful roles in the country are filled by non-white individuals, an increase of only 1.2%, or 15 people, since 2017, the Colour of Power survey by consultants Green Park and not-for-profit organisation Operation Black Vote said. Continue readi[...]

Coronavirus spurs sales surge for makers of Dettol (790 days old [28/07/20])

Reckitt Benckiser, which owns Vanish, Finish, and Harpic says it’s struggling to sate demand in parts of US and UKCoronavirus – latest updatesSee all our coronavirus coverageConsumer demand for cleaning products from Dettol to Lysol provided a pandemic sales surge for Reckitt Benckiser, although the company admitted it is still struggling to keep shelves stocked in “pockets” of the UK and US.The consumer goods group, which owns brands including Cillit Bang, Nurofen and Durex, beat market expectations with total revenues rising 11.9% to £6.9bn in the first half. Continue reading...

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

Telecoms

Musk offers Iranians uncensored internet access (16 hours old)

Special terminals will still need to be sent to country for users to benefit from Starlink service

French investors first in the queue at the UK’s rummage sale (3 days old [23/09/22])

A flurry of buyers from across the Channel will be joined by dollar-rich US rivals

Vodafone/Xavier Niel: a second French tycoon targets UK telecoms  (5 days old [21/09/22])

Investment vehicle Atlas describes mobile phone group as ‘an attractive investment opportunity’

French billionaire Xavier Niel builds 2.5% Vodafone stake (5 days old [21/09/22])

UK-based telecoms group under pressure to pursue deals and streamline business

TalkTalk pushes UK government to promote superfast broadband  (7 days old [19/09/22])

Target to cover 99% of homes needs a campaign to encourage switching, provider says

Apple/satellites: smartphone service from space could add millions of new customers (7 days old [19/09/22])

US tech group’s partnership with Globalstar gives iPhones an advantage

The strange death of the company phone number (9 days old [18/09/22])

As anger rises over clueless customer service there has never been a better time to offer a human, instead of an online form

Qatari telecoms group Ooredoo to exit Myanmar, following Norway’s Telenor (14 days old [12/09/22])

Business will be sold to Singapore-based Nine Communications

Europe needs a more robust optical fibre supply chain, says Corning chief (15 days old [11/09/22])

Demand has surged over the past three years driven by the rollout of 5G infrastructure

Rakuten founder embroiled in scandal as investors pile on pressure (28 days old [30/08/22])

Hiroshi Mikitani’s group is bleeding cash as he tries to enlist shareholders to back online bank IPO

© Copyright The Financial Times Ltd 2022. "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

DocuSign: new CEO must help boost billings (5 hours old)

E-signature software maker is suffering more than its peers

Asia’s largest metaverse platform Zepeto ramps up global expansion (6 hours old)

Korean group plans to boost presence as it seeks to take on big US rivals building avatar-filled virtual worlds

‘Sense of crisis’ has gripped South Korean chip industry, warns minister (6 hours old)

Lee Jong-ho says new legislation will boost competitiveness in supply chain and security

Meta apologises for harmful Instagram posts seen by Molly Russell  (13 hours old)

Social media company says some self-harm content viewed by teenager who took her own life was ‘safe’

Musk offers Iranians uncensored internet access (16 hours old)

Special terminals will still need to be sent to country for users to benefit from Starlink service

Apple expands iPhone production in India in shift away from China (19 hours old)

New Delhi has been working to lure companies seeking to diversify supply chains

Kahoot: faltering edtech investment sends SoftBank to back of the class (1 day old)

Weathering the broader tech sell-off amid the return to classroom learning is a risky bet

Corporate America is fretting over Taiwan risks, regulatory filings show (2 days old [24/09/22])

Technology is the sector most concerned, the semiconductor industry raising the loudest alarm

Big tech groups face probe by UK regulator over cloud services (3 days old [23/09/22])

Ofcom will assess whether Amazon, Microsoft and Google are limiting innovation and growth

Apple set to break average iPhone price record twice in coming months (3 days old [23/09/22])

Upward trajectory driven by customers buying more expensive ‘Pro’ models that command higher margins

© Copyright The Financial Times Ltd 2022. "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

Mortgage lenders halt some deals after pound falls (2 hours old)

Two lenders, Virgin Money and Skipton, say they will stop mortgage offers to new customers.

Bank will 'not hesitate' to raise interest rates after pound's fall (2 hours old)

The Bank of England said it was "monitoring developments closely" after the pound hit a record low.

iPhone in India: Apple makes new handset in India in shift from China (1 hour 19 minutes old)

The announcement marks the technology giant's latest move to diversify its supply chains outside China.

Cost of living: Millions forced to turn to second jobs, report finds (7 hours old)

More than five million people have taken on additional jobs, according to a report by Royal London.

Falling pound: What does it mean for me and my finances? (16 hours old)

The value of the pound touched a record low against the dollar after big tax cuts were announced.

Pound hits record low after tax cut plans (18 hours old)

Sterling sinks close to $1.03 as global markets react to the UK's biggest tax cuts in 50 years.

Aldi boss: Shoppers are switching in their droves (1 day old)

The discounter gains 1.5 million new customers in 12 weeks, says UK chief executive Giles Hurley.

Mini-budget: What it means for you and your finances (3 days old [23/09/22])

Chancellor Kwasi Kwarteng has delivered what the government calls a "fiscal event". Here is how it affects you.

'We'll be lucky to keep our heads above water' (3 days old [23/09/22])

The BBC talked to households and businesses to get their reactions to the mini-budget.

Income tax to be cut by 1p from April (3 days old [23/09/22])

The basic rate of income tax will fall by 1p from April with most people paying 19p instead of 20p for each pound.

Copyright: (C) British Broadcasting Corporation, see http://news.bbc.co.uk/2/hi/help/rss/4498287.stm for terms and conditions of reuse.

UK equities

UK stocks: sterling collapse has few silver linings (14 hours old)

Debate has shifted from how likely a recession will be to depth of the coming downturn

Global stocks fall for second straight week as central banks raise rates (3 days old [23/09/22])

Oil prices decline to levels seen before Russia’s invasion of Ukraine

Markets uneasy over new Truss-Kwarteng era (3 days old [23/09/22])

The government is following the playbook of the 1980s’ Thatcher and Reagan administrations

For European stocks it’s better if the currency is up not down (13 days old [14/09/22])

Falls against the dollar are due to the loss of competitiveness after the rising cost of energy

How many stocks should a portfolio hold? (13 days old [14/09/22])

There are good arguments for holding many more than 30 stocks

UK equities will struggle to attract investors back, says top fund manager (15 days old [11/09/22])

Richard Buxton pessimistic that a tumbling pound and a renaissance for fossil fuels will reverse sell-off trend

UK-focused funds exodus gathers pace  (20 days old [07/09/22])

£6.6bn outflows so far this year as the British economy suffers

Slim pickings on the markets and the river  (21 days old [06/09/22])

An unexpected profits warning from my biggest holding — but I still have faith

Investors recoil from UK ‘policy vacuum’ (24 days old [02/09/22])

Sliding sterling helps stocks but fund managers see dark outlook for currency and bonds

‘Most active fund managers should quit’ (26 days old [01/09/22])

Novice investors are better served by passive funds, says Blue Whale co-founder

© Copyright The Financial Times Ltd 2022. "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

How Europe can adapt to living without Russian gas for years (1 hour 23 minutes old)

Households turning down thermostats by 3 degrees could reduce much of the gap between supply and demand

Kwarteng’s policies won’t get inactive Britain working again (2 hours old)

The labour force needs investment in health, social care and childcare

Policymakers want to help with inflation but risk making it worse (2 hours old)

Tensions between governments and central banks emerge as soaring prices grip economies

The scramble for rare earths carries big geopolitical risks (2 hours old)

But without these metals there are limited solutions to our planetary problems

UK suffering ‘drama discount’ on business investment (3 hours old)

There have been many theatrical policy twists since Brexit — and the latest is a real humdinger

DocuSign: new CEO must help boost billings (5 hours old)

E-signature software maker is suffering more than its peers

Robinhood: SEC decision on order payments is no cure for growing pains  (13 hours old)

US retail brokerage’s future may lie in the business model it has sought to disrupt

Healthcare M&A: Titans on spree as regulatory crackdown falls flat (13 hours old)

Court ruling likely to boost spirits and ultimately transactions in the sector

Markets take fright over Britain’s economic strategy (13 hours old)

Government and Bank of England must restore faith in the credibility of policy

Kwarteng has shaken investor confidence in the UK (13 hours old)

Market sell-off on ‘fiscal event’ was as bad a verdict as any chancellor could fear

© Copyright The Financial Times Ltd 2022. "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