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McKinsey’s Kevin Sneader voted out in leadership ballot after crises (4 hours old)

Exclusive: Scottish managing partner loses out in consultancy’s ballot of top staff

Why London should resist the Spac craze (8 hours old)

Any changes to UK listing rules will require careful consideration

Global government bonds hit by fresh wave of selling (3 hours old)

US 10-year Treasury yield jumps above 1.4% for first time since start of Covid crisis

India’s Modi renames cricket stadium after himself  (4 hours old)

Change revealed just hours before start of third test match on England’s tour of country

J&J vaccine performs well against variants in boost for Covid battle (4 hours old)

FDA report finds single-dose shot effective in preventing severe symptoms in US, Brazil and South Africa

Politicians are using yesterday’s tools for today’s tech challenges (3 hours old)

Regulation must address the way digital groups are reshaping our society

The west is too obsessed with its colonial guilt (6 hours old)

France’s Stora report on the country’s occupation of Algeria shows that the colonised also need to face up to their past

McKinsey: after the fall (1 hour 43 minutes old)

A bigger threat to the franchise is that the firm is seen as representing an old elite order

Goldman and Blackstone CEOs join chorus of support for US stimulus (3 hours old)

Large group of Wall Street executives offer full-throated backing for Biden’s $1.9tn package

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Business | The Guardian

Closing UK furlough scheme this autumn is a mistake, says NIESR (211 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 (211 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' (211 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 (211 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 (211 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 (211 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 (211 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 (211 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 (211 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 (211 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

UK tech sues Huawei and Goodix for patent infringement (53 minutes old)

WaveTouch says Chinese rival is ‘spinning gold’ out of its fingerprint sensor system

Inmarsat appoints former Nokia boss as chief (2 hours old)

Veteran telecoms executive and dealmaker Rajeev Suri to take reins at satellite group next month

Vantage hopes to take advantage of tower dealmaking boom  (5 hours old)

Vodafone’s masts business seeks to scoop up more ‘sleeping beauty’ assets after float

Liberty Global targets deals in Ireland and Poland (1 day old)

Telecoms group see opportunities for further consolidation in European market as it prepares to merge Virgin Media with O2

Apple back on top in global smartphone sales (2 days old [22/02/21])

Gartner figures show slumps for Samsung and Huawei as Apple reclaims lead for first time since 2016

Eutelsat: underperforming flying object (7 days old [17/02/21])

A dependence on satellite broadcasting revenues has become a weakness as streaming proliferates

European telecoms: mixed signals (8 days old [16/02/21])

Investors want to see a green light for consolidation

Ericsson chief slams Europe’s ‘non-functioning’ telecoms market (8 days old [16/02/21])

Swedish telecoms equipment maker is worried the continent is falling far behind China and US in 5G rollout

How a tiny telco is fighting back against text message fraud (8 days old [16/02/21])

A Luxembourg mobile operator has developed technology that can identify scams

Norwegian telecoms chief denounces cyber security bill in Myanmar  (8 days old [16/02/21])

Telenor says legislation proposed by junta should not be implemented

© Copyright The Financial Times Ltd 2021. "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

UK tech sues Huawei and Goodix for patent infringement (53 minutes old)

WaveTouch says Chinese rival is ‘spinning gold’ out of its fingerprint sensor system

Inmarsat appoints former Nokia boss as chief (2 hours old)

Veteran telecoms executive and dealmaker Rajeev Suri to take reins at satellite group next month

Flying taxi start-up Joby to go public in deal with LinkedIn and Zynga founders (3 hours old)

Spac deal provides aircraft maker with $1.6bn in cash to pursue development work

Snap: camera angles  (3 hours old)

The company’s valuation is a bet on the future of social media as a place for visual advertising and ecommerce

Politicians are using yesterday’s tools for today’s tech challenges (3 hours old)

Regulation must address the way digital groups are reshaping our society

Facebook pledges to pay $1bn for news (5 hours old)

Tech group’s spending on publishers over next 3 years will match that promised by Google

The US’s big plan to cut supply chain reliance on China (10 hours old)

#techAsia, your guide to the billions made and lost in Asia tech

Car chip shortage shines light on fragility of US supply chain (13 hours old)

Semiconductor crunch becomes domestic political crisis after lay-off of assembly workers

India risks tax clash with Biden over crackdown on tech companies (17 hours old)

New Delhi wants Silicon Valley to pay more to help its economy recover from coronavirus

US considers sanctions against Russia over SolarWinds hack (19 hours old)

Senate hears cyber intruders wielded more tools than previously realised

© Copyright The Financial Times Ltd 2021. "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

Covid lockdown: 'My closed hair salons cost me £1,000 a day' (6 hours old)

The hair and beauty industry is calling for a cut in VAT to help mend the sector's finances.

Fraudsters stepped up efforts in new year, HMRC figures show (3 hours old)

Con-artists claimed people could receive a tax rebate or a grant, as they tried to steal financial details.

Biden orders 100-day review amid supply chain strains (9 minutes old)

The United States has grappled with shortages of medical gear and computer chips, among other items.

Heathrow passenger numbers fall to 1970s' levels (2 hours old)

Covid "devastated" air travel in 2020, the UK's largest airport says, as it sinks to a £2bn loss.

Cladding: Warning not to leave flat owners facing huge safety bills (1 hour 17 minutes old)

Rebel Tory MPs are urging the government to ensure leaseholders are protected from extra costs.

Nissan: Hundreds furloughed over parts shortage (1 hour 20 minutes old)

Late-shift work on one assembly line in Sunderland will be suspended for one week, the firm says.

'I was often the only woman in the room. That's changed' (9 hours old)

Boards of big companies have 50% more women present than in 2015, a government review has found.

Hays Travel boss 'shocked' by husband's sudden death (4 hours old)

Dame Irene Hays says tributes to her husband John have given her "determination" to carry on.

Apple buys a company every three to four weeks (14 hours old)

The technology giant has bought around 100 companies in six years, chief executive Tim Cook has revealed.

Budget 2021: 'Furlough is a lifeline, I hope they extend it' (6 hours old)

More support for jobs is expected in Chancellor Rishi Sunak's Budget, but will it be enough?

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UK equities

Wall St stocks reverse course as Powell stays supportive  (47 minutes old)

Yields on US Treasuries climb back from one-year high

London should be centre of ‘Spac revolution’, says ex-LSE chief (13 hours old)

Xavier Rolet and Matthew Elliott call for reforms to attract blank-cheque companies

US stocks rebound as tech-led sell-off eases (20 hours old)

Powell signals Fed staying the course with loose monetary policy

IG Group suspends leveraged trading in 900 shares (2 days old [22/02/21])

UK broker makes move in response to new wave of retail trading in volatile stocks

Should the UK change its listing rules to attract more overseas companies? (2 days old [22/02/21])

Two experts debate the future of IPO regulations and the wider capital market ecosystem

Global stocks muted as investors debate inflation outlook (4 days old [19/02/21])

US Treasury yields hit new 12-month high as sell-off gathers pace

Global equities slip and Treasuries steady after sell-off (6 days old [17/02/21])

Stock rally pauses as dollar strengthens following Biden’s promise to ‘go big’ on stimulus

Japanese stocks pass 1990 high as economic recovery accelerates (8 days old [15/02/21])

Best day for UK stocks in more than a month, driven by rallying commodities and vaccine rollouts

Private equity firms eye UK stock market for cheaper deals (10 days old [14/02/21])

Buyout groups make flurry of approaches to London-listed companies in bet on recovery from pandemic

US equities close the week at record highs (11 days old [12/02/21])

Italian bonds rally as Mario Draghi secures broad support from coun political parties

© Copyright The Financial Times Ltd 2021. "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

Credit markets/inflation: reality resumes (18 minutes old)

An easing pandemic, after a long hibernation, should lead to rapid economic growth initially

India turns to private sector to boost sluggish Covid-19 vaccine drive (1 hour 35 minutes old)

Government’s early struggles are reminiscent of the days of the socialist ‘Licence Raj’

McKinsey: after the fall (1 hour 43 minutes old)

A bigger threat to the franchise is that the firm is seen as representing an old elite order

UK’s competition watchdog needs some competition (1 hour 48 minutes old)

Blank-cheque groups an unlikely quick fix for LSE; private equity fund circles Synthomer

After Google drama, Big Tech must fight against AI bias (2 hours old)

‘Silicon Valley’s problems with gender and racial imbalance are endemic and likely to last for years’

Snap: camera angles  (3 hours old)

The company’s valuation is a bet on the future of social media as a place for visual advertising and ecommerce

Politicians are using yesterday’s tools for today’s tech challenges (3 hours old)

Regulation must address the way digital groups are reshaping our society

Lloyds/coronavirus: on the mend (3 hours old)

The UK bank is cantering out of trouble at pace

HK stamp duty: hardly taxing (4 hours old)

There are plenty of reasons to avoid the territory’s stocks — this is not one of them

Rich countries should reassign funds to Africa as the path out of Covid (4 hours old)

A voluntary shift of special drawing rights on the IMF’s proposed $500bn of new liquidity is needed

© Copyright The Financial Times Ltd 2021. "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