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Earthquakes rock Turkey and Syria leaving thousands dead (2 hours old)

Early morning 7.8 magnitude quake and big aftershock trigger desperate search for survivors

Why Turkey and Syria’s calamitous earthquakes were decades in the making (8 hours old)

Turkey is at the centre of one of the world’s most seismically active regions

‘We are without hope’: desperate aftermath of huge Turkey-Syria quake (7 hours old)

Race to tackle growing humanitarian crisis amid scenes of devastation

Stocks and government bonds fall as investors worry over US rate rises (5 hours old)

Sell-off in Treasuries picks up after Atlanta Fed president warns of higher peak in borrowing costs

UK to design ‘digital pound’ that could fend off future private tech rival (4 hours old)

Central bank virtual currency under BoE and Treasury could supplant cash by end of decade

New Carlyle CEO Harvey Schwartz in line for $180mn pay deal (3 hours old)

Five-year performance-based package is among the most generous on Wall Street

UK regulators failed to spot threat from pension scheme borrowing, say peers  (2 hours old)

Lords report calls for greater oversight of LDI strategies after last year’s turmoil in gilt markets

Pension schemes advised to sell LDI funds after gilt chaos (22 hours old)

Investment advisers have cut ratings on funds run by BlackRock and other managers

Brexit could be reversed — here’s how (14 hours old)

Opinion is shifting but the public are running ahead of the politicians

© Copyright The Financial Times Ltd 2023. "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 (923 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 (923 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' (923 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 (923 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 (923 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 (923 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 (923 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 (923 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 (923 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 (923 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

Telecom Italia: KKR’s €20bn offer should not be dismissed (21 hours old)

The Italian government may be looking at different numbers, but the proposal deserves careful consideration

Bangladesh smartphone keyboard sparks political controversy (4 days old [02/02/23])

Telecoms minister says order to use his company’s software amounts to ‘no wrongdoing’

BT chief warns Openreach fibre push will ‘end in tears’ for rivals  (4 days old [02/02/23])

Telecoms group’s competitors race to lay fibre networks across UK before incumbent

KKR offers to buy stake in Telecom Italia’s fixed-line business (4 days old [02/02/23])

Possible deal could unlock stalemate over debt-laden company’s future

Vodafone/Elliott: activist seeks an opportunistic gain from tower sale  (5 days old [01/02/23])

US activist’s gambit depends on German securities law protecting minorities from premature squeeze-outs

Vodafone ‘can do better’, admits chief  (5 days old [01/02/23])

UK is the only large market where group had growth in the most recent quarter

Elliott takes stake in phone mast group Vantage ahead of possible delisting (6 days old [31/01/23])

Activist’s move could disrupt attempt by European tower company’s new owners to buy outstanding shares

Apollo and Marcelo Claure in talks over buyout of LatAm telecom Millicom (12 days old [25/01/23])

Private equity group has shown recent appetite for investing in communications sector

Telecoms company backed by Abramovich sold for £1 (13 days old [24/01/23])

Truphone bought by two European businessmen following months of uncertainty after sanctions on Russian oligarch

Ericsson warns profit margins at core equipment business set to worsen (17 days old [20/01/23])

Swedish telecoms group expects margins in its networks business to continue to fall in first half

© Copyright The Financial Times Ltd 2023. "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

Google reveals plans for chatbot ‘Bard’ as AI tech race heats up (7 hours old)

Silicon Valley group unveils its rival to OpenAI’s ChatGPT

Search wars reignited by artificial intelligence breakthroughs (13 hours old)

Google, Microsoft and some start-ups plan to embed AI into their services in ways that may transform the market

Big Tech companies use cloud computing arms to pursue alliances with AI groups (1 day old)

Deals between Google, Microsoft and Amazon and ‘generative AI’ start-ups raise competition concerns

Baillie Gifford sheds more than £100bn in assets in 2022 (1 day old)

Growth investor suffers as interest rates rises prompt sell-off in tech stocks

Apple blundered when it killed off Dark Sky (1 day old)

Doing away with a much-loved weather app has caused an understandable outcry

Musk wins investor lawsuit over Tesla ‘funding secured’ tweet  (3 days old [04/02/23])

Verdict is a victory for billionaire chief executive of electric-vehicle maker

Australian battery group selected as preferred bidder for Britishvolt (3 days old [03/02/23])

Recharge Industries beats three rival offers in race to buy UK start-up out of bankruptcy

Activision Blizzard pays $35mn SEC settlement over workplace complaints (3 days old [03/02/23])

US regulator says video game group did not properly collect and address allegations of harassment and discrimination

Google invests $300mn in AI start-up Anthropic (3 days old [03/02/23])

Cash-for-computing deal shows how large tech groups are investing in companies at the vanguard of generative AI

Big Tech ventures into AI’s uncharted territory (3 days old [03/02/23])

Who wants to wait and think about potential downsides if it means missing the chance to create a billion-dollar company?

© Copyright The Financial Times Ltd 2023. "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

One in five homes have not cashed energy vouchers (2 hours old)

Figures show that 19% of households did not redeem their vouchers in October and in November.

Royal Mail February strikes off after legal challenge (2 hours old)

Union bosses say they have called off the strikes later this month due to a legal challenge.

Trial of scrapping train return tickets extended (2 hours old)

The transport secretary will explain how tickets can be simpler for passengers in a speech on Tuesday.

Nissan warns costs must fall to make new electric cars in UK (8 hours old)

A senior boss at the car company says the UK faces challenges to be competitive with other countries.

How the nurses' strike on Tuesday 7 February will affect you (9 hours old)

What you need to know about strikes by nurses by the BBC's Zoe Conway.

Digital pound likely this decade, Treasury says (4 hours old)

The Treasury and Bank of England will formally start a consultation for the digital currency, on Tuesday.

Prepayment meters: Magistrates told to stop allowing forced installations (9 hours old)

Magistrates have been told to stop authorising warrants for energy firms to forcibly install prepayment meters.

'Our mortgage got so high we put off having a baby' (3 days old [03/02/23])

Homeowners tell the BBC they are being hit harder by rising mortgage rates than soaring fuel and food bills.

Pregnant women to get more protection against being made redundant (3 days old [03/02/23])

New law will aim to cover expectant mothers from the moment they tell their boss they are pregnant.

Energy bills: What can I do if I can't afford to pay? (3 days old [03/02/23])

If you're struggling to afford your gas and electricity bills, what options are available?

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

Baillie Gifford sheds more than £100bn in assets in 2022 (1 day old)

Growth investor suffers as interest rates rises prompt sell-off in tech stocks

FTSE 100 beats 2018 peak to hit all-time high (3 days old [03/02/23])

Stock barometer is stacked with companies that dodged last year’s global sell-off

UK asset managers suffer record outflows in 2022  (3 days old [03/02/23])

Retail investors withdraw more than £25bn

UK equities no longer a ‘must own’ asset class, shareholder group warns (11 days old [26/01/23])

Investor Forum says decline in market’s relevance over past 25 years has been ‘breathtaking’

Time to buy UK small-caps?  (18 days old [19/01/23])

Record number of ‘fallen angels’ entering UK small-cap index could set investors’ hearts aflutter

UK/FTSE 100: elated, decorrelated and just a bit inflated (19 days old [18/01/23])

Three-quarters of the index’s revenues originate from overseas.

Investor letter to FTSE chairs calls for new group to ease stewardship concerns (19 days old [18/01/23])

Fresh discussions needed to settle contentious topics such as executive pay and overboarding

FTSE 100 on course to outstrip FTSE 250 by record margin (50 days old [18/12/22])

UK mid-cap index to underperform blue-chip stocks by largest annual amount since 1986

US stocks extend slide as central banks point to challenging 2023 (52 days old [16/12/22])

Investors feel the hangover as monetary policymakers temper optimism around cooling inflation

© Copyright The Financial Times Ltd 2023. "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

Australia debates use of uranium and nuclear power (2 hours old)

Dispute over Jabiluka mine comes as country reassesses longstanding ban on energy source

The punctured hopes for a US-China reset (8 hours old)

Shooting down of a spy balloon shows cold war lessons need to be learnt

Self-storage M&A: US rivals jockey to grow asset bases (8 hours old)

Life Storage should tell bidders there is still space to squeeze in a higher bid

Corporate ‘privacy’ concerns must not derail Europe’s Data Act (9 hours old)

This legislation could hold the key to restoring digital trust and a fair information economy

Information hoarding won’t benefit governments in the long run (9 hours old)

The problem with transparency is that it raises uncomfortable questions for politicians

Newmont/Newcrest: US miner will have to lift offer price to win target (9 hours old)

A deal would reunite the two companies that split more than 30 years ago

Rothschild & Co: bid for weak stock pulls a reverse Goldman (13 hours old)

Buyout would make low-profile business even more so as banking dynasty seeks to tighten control

America’s library wars are heating up (13 hours old)

Requests to ban books in the US rose to record highs in the pandemic

Brexit could be reversed — here’s how (14 hours old)

Opinion is shifting but the public are running ahead of the politicians

The enigmatic US economy (20 hours old)

A confusing picture gets more so after the jobs report

© Copyright The Financial Times Ltd 2023. "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