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Quant hedge funds reap windfall during 2022 market ructions (5 hours old)

Computer-driven managers post biggest gains since financial crisis after ‘dead decade’

Tech stocks: savvy short sellers make 34 per cent profit from the rout (2 hours old)

Investors appear to believe valuations are getting close to reality

Commodity funds stage revival as investors seek inflation hedges (1 day old)

Raw material prices surge as pandemic supply disruptions are compounded by war in Ukraine

Military briefing: battle for the Donbas heads for stalemate (5 hours old)

Russia may struggle to sustain offensive but Kyiv lacks enough heavy weapons to counter-attack effectively

Two years since George Floyd’s murder, healing remains elusive for Minneapolis (5 hours old)

Talk of systemic racism still dominates local politics, yet efforts to address it have been frustrated

Is the ‘subscription economy’ going to feel the Netflix effect? (5 hours old)

The pandemic boom in consumer subscriptions could falter as the cost-of-living crisis bites and regulators crack down

European shares retrace some losses ahead of Fed minutes (1 hour 22 minutes old)

Moves follow sharp drops overnight for US tech shares on slowdown fears

UK government clears £4.25bn Chelsea FC sale to Todd Boehly (1 hour 28 minutes old)

Licence issued as ministers satisfied Roman Abramovich will not benefit from funds

Pfizer warns on ‘constant waves’ of Covid-19 as complacency grows (1 hour 58 minutes old)

Chief executive Albert Bourla launches plan to offer patented medicines at lower cost to poorer nations

© 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 (665 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 (665 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' (665 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 (665 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 (665 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 (665 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 (665 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 (665 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 (665 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 (665 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

Under pressure Vodafone chief given ‘breathing space’ by new investor (5 days old [20/05/22])

Nick Read says he is pursuing deals but shareholders are pushing for turnround at telecoms group

Canada to ban Chinese telecoms Huawei and ZTE from 5G networks (5 days old [20/05/22])

Trudeau government delivers long-awaited decision on equipment manufacturers targeted by Washington

Vodafone targets deals as it warns on inflation hit (7 days old [17/05/22])

UK-listed telecoms group under pressure from shareholders to overhaul its businesses

‘Unlawful collusion’ by mobile groups led to Phones 4U demise, High Court told (8 days old [16/05/22])

EE, Deutsche Telekom, Orange, Vodafone and Telefónica deny working together to stop supplying retailer

Vodafone/e&: new investor fortifies chief’s hand in scrap with activist (8 days old [16/05/22])

Nick Read could use a friendly face but even a friend wants value for money when spending $4.4bn

UAE telecoms group takes 9.8 per cent stake in Vodafone  (10 days old [14/05/22])

State-controlled e&, formerly known as Etisalat, says it has no plans to make an offer for the British multinational

Deutsche Telekom raises forecasts as Sprint acquisition pays off in US (11 days old [13/05/22])

Group increases subscribers and net profit quadruples on back of T-Mobile Netherlands sale

Three-Vodafone may become third UK option (12 days old [12/05/22])

SoftBank’s historic loss, Disney gains on Netflix, Google Glass 2.0?

Vodafone/Three: consolidation is needed to dial up improvements (12 days old [12/05/22])

A cost-cutting merger that boosts shareholder returns is justified

BT signs sports deal with Warner Bros Discovery (12 days old [12/05/22])

New venture will broadcast English Premier League and Uefa Champions League football matches

© 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

Tech stocks: savvy short sellers make 34 per cent profit from the rout (2 hours old)

Investors appear to believe valuations are getting close to reality

Prologue pushes ahead with start-up accelerator despite tech sell-off (5 hours old)

Silicon Valley-backed firm with big ambitions could challenge famed rival Y Combinator

Snap breaks bad news on ads (15 hours old)

Airbnb’s China retreat, Digital nomad-eira, Logitech’s MX Mechanical

Snap spooks investors with macroeconomic warning (19 hours old)

Social media company’s shares plunge after it says conditions have ‘deteriorated further and faster than anticipated’

Convertible bonds drop as investors cool on once-hot tech companies (21 hours old)

Debt sold at top of market by groups such as Peloton and Spotify is hit by rising rates and sinking equities

Airbnb/China: exit leaves fat margins to local rivals  (23 hours old)

Competitors such as Meituan are well-placed to benefit from demand when lockdowns ease

Airbnb gives up on China as zero-Covid policy crushes tourism (1 day old)

Rental company abandons push to compete in local market and shifts focus to overseas trips

Amazon shareholders to challenge on pay, tax and working conditions (1 day old)

Proposals at this week’s AGM will be test of leadership for new chief Andy Jassy

Virtual clubbing points to future profits from the metaverse (1 day old)

Digital nightlife provides clues to products and services that will help drive the transition

Snap: profit warning highlights more than macroeconomics (1 day old)

In the last quarter, R&D expenses were $455.5mn — 43% of revenue

© 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

Marks & Spencer pulls out of Russia after 17 years (1 hour 48 minutes old)

The retail giant previously said complex franchise agreements prevented it from leaving completely.

Cost of living: Government plan to help households could come within days (8 hours old)

Measures could be announced as soon as Thursday after growing pressure on Downing Street, the BBC learns.

'I change how I look and talk to fit in at work' (9 hours old)

Two thirds of women of colour in UK workplaces say they change themselves to fit in, a report says.

Klitschko brothers urge Europe to stay strong for Ukraine (9 hours old)

The champion boxer brothers visit World Economic Forum in Davos to urge support for Ukraine.

Rail strike: RMT union votes for national action (11 hours old)

RMT members vote in favour of strike action across Network Rail and 13 train operating companies.

Shell consultant quits and accuses firm of 'extreme harms' (3 hours old)

Caroline Dennett's post on the professional networking platform LinkedIn has more than 10,000 likes.

Energy price cap: Typical energy bill set to rise by £800 a year in October (18 hours old)

Industry regulator Ofgem warns households that they should expect higher energy bills this winter.

US closes loophole for Russian debt payments (10 hours old)

The move by the US Treasury Department could push Russia closer to default.

Mining giant pleads guilty to UK bribery charges (13 hours old)

Glencore's UK subsidiary pleads guilty to bribery in London, while the firm resolves similar US claims for $1bn.

Why chicken is getting more and more expensive (22 hours old)

We follow a chicken from farm to supermarket shelf to see how costs are building up at every stage.

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UK equities

High Court approves Amigo Loans new business scheme (1 day old)

UK judge’s acceptance of plan moves guarantor lender closer to resuming business

Wall Street stocks dip, Treasuries gain as investors seek out safe assets (5 days old [19/05/22])

Investors assess risks to economic and corporate earnings outlook after ‘vicious’ pullback

US stocks suffer worst day since early months of pandemic (6 days old [18/05/22])

S&P 500 closes down 4% in biggest daily loss since June 2020 following weak results from retailers

Dollar strengthens as global growth and inflation fears mount (12 days old [12/05/22])

Investors sent to haven assets

Nasdaq Composite slides 3.2% as stock sell-off gathers pace (13 days old [11/05/22])

Tech-heavy index down nearly 30% from record as inflation bolsters likelihood of aggressive Fed interest rate rises

Nasdaq index marks worst monthly drop since 2008 financial crisis (25 days old [29/04/22])

Tech-heavy stock benchmark dropped 13.3% in April as investors braced for higher interest rates and slower growth

Time to start afresh on reviving UK markets (27 days old [28/04/22])

The City of London needs to be reconnected with the wider economy and with society

UK dividends expected to beat 2022 forecasts as energy profits soar (28 days old [27/04/22])

Improved outlook suggests shareholder payouts will match last year’s tally

Schroders: blue blood calls an end to its inequitable equities (28 days old [26/04/22])

City of London’s last big, independently-owned historic brand seeks to merge voting and non-voting shares

US stocks mixed after earnings results (34 days old [20/04/22])

Procter & Gamble, Danone and Heineken issue positive results

© 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

Tech stocks: savvy short sellers make 34 per cent profit from the rout (2 hours old)

Investors appear to believe valuations are getting close to reality

Is the ‘subscription economy’ going to feel the Netflix effect? (5 hours old)

The pandemic boom in consumer subscriptions could falter as the cost-of-living crisis bites and regulators crack down

We’re asking the wrong questions about stablecoins (5 hours old)

Real issue is whether these crypto assets should be allowed to exist at all

Now is the time to help Ukraine by stepping up sanctions on Russia (5 hours old)

Broader measures must cover the financial and energy sectors as well as more government officials and business figures

German companies struggle to be heard above the noise (5 hours old)

Businesses can no longer count on the product to do all the talking

Can engineers find a magic formula for investors? (5 hours old)

Time to take another look at specialist UK companies

Don’t hope for simplicity from the City’s Russia export ban (6 hours old)

Complexities are an inevitable and acceptable consequence of restrictions on professional services

HSBC saga reveals how much climate and financial risk are misunderstood (15 hours old)

The Stuart Kirk spat reveals the profound level of uncertainty that makes global warming unlike any other public policy problem

US influence in Asia depends on economic engagement  (16 hours old)

Biden’s first presidential trip to the region struggles to show a positive agenda

US Treasuries: Fed cannot count on Asian investors forever (17 hours old)

Rise of haven currency amid higher rates and a European war is casting a long shadow

© 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