Tesla’s chief designer smashed the vehicle’s windows in an attempt to demonstrate their toughnessDoes the act of someone’s net worth plummeting make an actual sound?If so, then for Elon Musk it would be the thonk of a metal ball splintering the purportedly unbreakable glass of his long-awaited cybertruck. Continue reading...
Economy forecast to contract as services and manufacturing firms blame fall on uncertaintyBritain’s private sector companies suffered the sharpest drop in activity this month since the EU referendum, as the prospect of a general election added to Brexit-related uncertainty.Most businesses blamed a contraction in activity in November on faltering confidence among both domestic and overseas customers, who are worn out by continuing political indecision. Continue reading...
President of the European Central Bank says US/China tariff war should be seen as an opportunityChristine Lagarde has called for European governments to boost innovation and growth with higher rates of public investment, in her first major speech as president of the European Central Bank.Speaking to an audience of bankers in Frankfurt, Lagarde said that rising trade barriers triggered by the US/China tariff war should be grasped by European governments as an opportunity to build a stronger internal market. Continue reading...
Only top 5% of earners would pay more tax under party, shadow chancellor saysJohn McDonnell has rejected suggestions that Labour’s economic policy would increase prices and lower wages, arguing that structural changes would challenge “extreme inequality” and unstable investment.Speaking after Labour’s manifesto was unveiled on Thursday, the shadow chancellor said people would have much more control over their lives and the economy as a result of the party’s plans to restore trade union rights and collective bargaining. Continue reading...
Debate deepens on whether savers should be compensated or taught how to invest their moneyGerman policymakers are locked in debate over how to react to negative interest rates, with a split between those who believe savers should be compensated and others who say they should learn to invest.The Christian Social Union (CSU), the sister party to Merkel’s Christian Democrats, has proposed either banning banks from passing on negative rates to savers, or giving savers tax concessions. Continue reading...
British Airways avoids festive disruption as union backs deal worth 12% over three yearsBritish Airways has agreed to a provisional pay settlement with its pilots, heading off the threat of Christmas disruption and bringing to an end one of the most damaging disputes in its history.The pilots union, Balpa, has recommended a deal worth 12% over three years to its members, more than a year after talks started and following strikes in September that cost the airline tens of millions of pounds a day. Continue reading...
Investor says it is seeing ‘positive signs’ from oil firm after PensionBee clients question inclusionLegal & General has defended its decision to retain Shell as one of the top stocks in its climate-conscious fund despite a pension client raising concerns about the oil corporation’s inclusion.PensionBee, an online pension provider that handles £650m worth of client assets, said it was being inundated with questions from its customers about the composition of one of Legal & General Investment Management’s Future World Funds, which counts Shell among its top 10 holdings. Continue reading...
Election promise effectively blames foreign buyers for inflating property pricesThe Conservatives would force overseas homebuyers to pay extra stamp duty in an election pledge that effectively blames foreign purchasers for inflating property prices.The party has unveiled plans for a 3% stamp duty surcharge for non-UK tax residents which would apply to companies as well as individuals – and also to expats wanting to move back home. It said as many as one in eight new London homes were bought by non-residents in 2014-16. Continue reading...
Richard Price currently heads Tesco’s F&F clothing and homewares labelMarks & Spencer has hired a senior Tesco executive to lead its latest attempt to reinvigorate its struggling clothing business.Richard Price, the head of Tesco’s F&F clothing and homewares label, has worked at M&S before. He spent seven years with the chain, rising to become menswear director, but left in 2012 after becoming disillusioned with the then M&S strategy. Continue reading...
Ban halts sale of all flavored e-cigarettes, except tobacco flavorsJuul stopped selling flavors other than tobacco and mentholNew York City could ban flavored vaping products as soon as next week, in a move that would make the metropolis of 8.6 million people the most populous place in America to ban flavored e-cigarettes.The backlash against flavored e-cigarettes has gained momentum after a vaping-linked illness swept across the United States, killing at least 40 people and sickening 2,000 more. Vaping bans have emerged in an effort to curb e-cigarettes’ appeal to young people. Continue readi[...]
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System is opening up to telecom operators in effort to reach the unbanked
New Delhi deferral of $5.8bn in spectrum dues aims to avoid Reliance establishing monopoly
More than 600 small providers would be affected by nationalisation plan
Sector leaders Vodafone Idea, Bharti Airtel and Reliance Jio to lift tariffs
FT's Nic Fildes examines a radical proposal to renationalise parts of BT
John Legere to step down as chief of US’s third-largest phone carrier
New 90-day extension comes as US prepares rules on telcos that pose national security risks
COO Mike Sievert to take over from May next year
The move would leave an enormous hole in BT’s pension fund
Labour plans for a nationalised broadband network are misguided
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Disappointment for high-profile listings comes even as US stocks hit record
Listing committee at stock exchange requests more information from Chinese AI leader
In spite of the self-belief and boosterism, Europe’s tech sector fails to convince
Total US fundraising plummets as companies focus on mainland and Hong Kong
Online hyper-personalisation may be affecting democracies. How far will Big Tech go to curb its effects?
The specialist groups risk being sidelined when big cloud companies start talking to each other
The company’s demise bodes ill for start-ups that rely on cheap, gig economy workers
Promising Lagos start-up profits from music as ‘a way of life’
Privacy concerns over access to non-regulated health information on 27m users
John Tu’s long-established memory business is flourishing in the age of the cloud
© Copyright The Financial Times Ltd 2019. "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.