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UK households urged to reduce energy use to avoid winter power cuts (13 hours old)

National Grid warns of three-hour blackouts in ‘extreme’ gas and electricity supply scenario

New UK oil and gas licences in North Sea face legal challenge (8 hours old)

Regulator to issue permits for exploration, but Greenpeace aims to halt ‘possibly unlawful’ plan

US says ‘nothing off table’ in response to Opec+ oil cuts (13 hours old)

White House considers more sales from strategic reserve and refuses to rule out fuel export limits

How Iranian students are shaping the anti-regime protests (3 hours old)

Universities emerge as central focus of unrest in Islamic republic

UK’s wake-up call on bond vigilantes (3 hours old)

Turmoil in gilts shows governments will have to work harder to keep markets on-side

Where climate change isn’t global: auditing (4 hours old)

Amount of information provided on climate risks in company accounts varies widely

Biden warns Putin ‘not joking’ about nuclear threat (4 hours old)

US president says risk of ‘Armageddon’ highest in decades as Russia faces setbacks in Ukraine

London’s most expensive home ‘owned by Evergrande founder’ (3 hours old)

Hui Ka Yan may sell mansion overlooking Hyde Park after suffering reversal in fortunes

Twitter deal tests banks’ resolve as they brace for big losses  (3 hours old)

Lenders’ commitment to finance Elon Musk’s buyout may cost them hundreds of millions of dollars

© 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 (800 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 (800 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' (800 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 (800 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 (800 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 (800 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 (800 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 (800 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 (800 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 (800 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

Viasat’s Inmarsat deal risks making in-flight WiFi more expensive, says CMA (17 hours old)

UK competition regulator warns $7.3bn tie-up risks quality of onboard connectivity

Huawei to relaunch 5G phone despite US sanctions (1 day old)

Chinese tech group works to bypass penalties by redesigning phone to avoid restricted advanced chips

Vodafone: Three UK deal would impede necessary restructuring (2 days old [04/10/22])

Unknotting mobile operator requires deft sword strokes, not fiddling with loose ends

Vodafone and Three in talks to create UK’s biggest mobile operator (3 days old [03/10/22])

Vodafone has been under pressure from activist investors to change strategy and improve returns

Musk offers Iranians uncensored internet access (10 days old [26/09/22])

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 (13 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  (15 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 (15 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  (17 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 (17 days old [19/09/22])

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

© 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

Twitter deal tests banks’ resolve as they brace for big losses  (3 hours old)

Lenders’ commitment to finance Elon Musk’s buyout may cost them hundreds of millions of dollars

Duolingo: focus on entertainment over education will keep subscription rates high (5 hours old)

Purchase of animation studio Gunner underscores desire to make learning languages fun

Judge puts Musk’s legal fight with Twitter on hold until October 28 (8 hours old)

Proceedings will resume in November if $44bn deal does not close

Tiger Global slows pace of investment with scaled-down fund (9 hours old)

Prominent tech investor seeks $6bn for new private equity vehicle less than half the size of predecessor

AI’s sudden big leap forward into usefulness (12 hours old)

In just a few weeks, technology has advanced to a level where it could have wide-ranging applications

Elon Musk’s Twitter takeover saga: a timeline of tweets (19 hours old)

World’s richest person’s attempt to buy social media company has been anything but smooth

The Vision Fund shrinks, and AirPods head to India (23 hours old)

The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times

Central banks face recessionary dangers (1 day old)

The intent to slash demand, money and credit in the system implies lower turnover growth

Rustbelt renaissance: Pittsburgh becomes an FDI standout (1 day old)

Once synonymous with post-industrial decline, the city has reinvented itself as a tech hub

Why Big Tech shreds millions of storage devices it could reuse (1 day old)

Companies like Amazon and Microsoft routinely destroy used hard drives in the name of data security — but industry insiders say there is a better option

© 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

Homeowners 'tearing their hair out' over rising rates and rents (7 hours old)

Whether letting or living in their homes, mortgages are pushing up the cost for many people.

UK defies climate warnings with new oil and gas licences (6 hours old)

More than 100 licences are expected to be granted for new fossil fuel exploration in the North Sea.

Elon Musk: Twitter won't 'take yes for an answer' (8 hours old)

Twitter said it did not trust the billionaire's promises to proceed with the takeover.

Homes face winter power cuts in worst-case scenario, says National Grid (12 hours old)

Cuts would probably occur at peak times and customers would be warned in advance.

Adidas puts Kanye West Yeezy deal under review (3 hours old)

Earlier this week, the rapper and fashion designer wore a t-shirt that read "White Lives Matter".

Train strike: Only one in five services set to run on Saturday (14 hours old)

People are being warned to only travel if absolutely necessary as the RMT union holds another strike.

Average five-year mortgage rate hits 12-year high (16 hours old)

Rates continue to rise as the chancellor meets the bosses of major UK banks and building societies.

Former Uber security chief convicted for concealing a felony (17 hours old)

Joe Sullivan had covered up a "massive theft" of Uber user data, in 2016, prosecutors said.

Petrol price rise warning after Opec oil output cut (1 day old)

Major oil producers including Saudi Arabia will pump less, raising fears of higher fuel prices.

Tesco: People watching every penny to make ends meet (1 day old)

The UK's largest supermarket chain has announced a further boost to pay for its UK workers.

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 companies face new wave of takeovers, warns Numis (6 days old [30/09/22])

Broker says overseas rivals are looking to buy out British groups as it faces 33% drop in its revenue

Global stocks and bonds fall as boost from BoE intervention wanes (7 days old [29/09/22])

Drops follow broad rally in asset prices after Bank of England took action to calm the gilt market

UK stocks: sterling collapse has few silver linings (10 days old [26/09/22])

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 (13 days old [23/09/22])

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

Markets uneasy over new Truss-Kwarteng era (13 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 (23 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? (23 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 (25 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  (30 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  (31 days old [06/09/22])

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

© 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

Half a million missing workers show modern Britain’s failings (3 hours old)

Chronic pain and mental health problems have pushed huge numbers out of the workforce since the pandemic

The lost art of urban apple picking (3 hours old)

‘So prolific were London apples that there are varieties named after its suburbs: Hounslow Wonder and the Merton Joy’

UK’s wake-up call on bond vigilantes (3 hours old)

Turmoil in gilts shows governments will have to work harder to keep markets on-side

The risks from derivatives have morphed (3 hours old)

Well-intentioned moves to safeguard the financial system have led to new vulnerabilities

Too much football risks burnout for fans and broadcasters (3 hours old)

Match overload is a path to lowering the commercial value of the world’s most popular sport

Where climate change isn’t global: auditing (4 hours old)

Amount of information provided on climate risks in company accounts varies widely

Duolingo: focus on entertainment over education will keep subscription rates high (5 hours old)

Purchase of animation studio Gunner underscores desire to make learning languages fun

AI’s sudden big leap forward into usefulness (12 hours old)

In just a few weeks, technology has advanced to a level where it could have wide-ranging applications

HSBC/Canada: Vancouver manoeuvre would give respite from Ping An (13 hours old)

International bank should attempt to sell Canadian business despite its profitability

The battle for control of the global oil market (13 hours old)

Ill-judged Opec+ output cuts could backfire on the Saudi-led cartel

© 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