Rolling coverage of markets, economics and business news amid warning of increased risks posed by non-bank lendersMore detail: Risks to global financial stability have increasedTwitter enters general election fray with rebuke to Conservatives Stock markets: Trump threatens tariff rise in China trade dispute Prosus hits back after Takeaway.com and Just Eat try to go forward with mergerAlibaba raises up to £10bn in Hong Kong share offering 1.55pm GMT Investment manager Janus Henderson has been fined £1.9m by the City regulator for not telling customers that their money was tracking investment in[...]
Premium tonic water and mixer maker lowers forecast after slowdown in UK retail salesThe drinks company Fever-Tree has said a slowdown in consumer spending has hit UK retail sales of its popular mixers.The premium tonic water and mixer maker lowered its forecast of global sales this year to £266m to £268m, about 13% year-on-year growth. Analysts had been forecasting sales of about £272m to £275m. Continue reading...
Luxury carmaker hopes DBX will reverse its fortunes amid falling sales and share priceAston Martin Lagonda has unveiled its first sports utility vehicle in an attempt to compete in the fast growing luxury SUV car market and reverse the 75% slide in its share price since the company floated last year.The British company, which supplies cars to James Bond in the 007 films, said it hoped the long-awaited £158,000 DBX model would widen its appeal to wealthy women, as almost all of its current customers are men. Continue reading...
UK insurer agrees tie-up with 14 housing associations in attempt to ease property crisisThe UK insurer Legal & General has teamed up with 14 housing associations to build 3,000 affordable homes annually, as official figures show a 22% rise in the number of affordable homes delivered in England in the past year.The insurance and pensions firm set up an affordable housing business in April 2018 and has built up a pipeline of 3,500 homes to be constructed over several years. Continue reading...
Pressure on prince grows as BT distances itself from him and letter to the Times emergesThe firms cutting ties with Prince Andrew in wake of scandalA claim by Prince Andrew during his controversial BBC interview to have first met the convicted sex offender Jeffrey Epstein in 1999 has been thrown into doubt after it emerged that the duke’s previous chief of staff said the two men met in “the early 1990s”.The claim was made by Alastair Watson, the prince’s private secretary for nine years until 2012, who wrote a letter to the Times in 2011 in order to reject reports that the Duke was a friend of[...]
Capacity rose by 42.9GW in 18 months, far outpacing global efforts to cut use of fossil fuelChina’s growing appetite for new coal-fired power stations has outstripped plant closures in the rest of the world since the start of last year, data shows.Elsewhere countries reduced their capacity by 8GW in the 18 months to June because old plants were retired faster than new ones were built. But over the same period China increased its capacity by 42.9GW despite a global move towards cleaner energy sources and a pledge to limit the use of coal. Continue reading...
Report reveals live music is worth £1.1bn to Uk economy with industry as a whole put at £5.2bnThe value of Britain’s live music sector hit a record £1.1bn last year, as fans flocked to see big name artists including Ed Sheeran, the Rolling Stones and Sam Smith on tour.It helped to drive the music industry’s overall contribution to the UK economy – which also includes sales of British music overseas and the money spent on food and accommodation by music tourists – to £5.2bn in 2018. Continue reading...
Deals for planes announced at Dubai airshow despite ban after two fatal accidentsBoeing’s 737 Max has taken centre stage at the Dubai airshow as airlines announced plans to order up to 50 of the jets worth $6bn (£4.6bn) despite a global grounding in place since March.Kazakhstan flag carrier Air Astana said it had signed a letter of intent to order 30 Boeing 737 Max 8 jets for its FlyArystan subsidiary. Air Astana, which operates Airbus and Embraer jets in its main network, said it was confident in Boeing’s ability to resolve problems with the Max. Continue reading...
IFS says rises needs in order to compete with private sector after decade of wage restraint Targeted increases in public sector pay are needed to enable the NHS, schools, the armed forces, the police, the civil service and prisons to hold on to and hire workers in the face of competition from the private sector, a thinktank has said.The Institute for Fiscal Studies said that after a decade of wage restraint, the government now needed to respond to growing evidence of recruitment difficulties. Continue reading...
Shadow chancellor criticises corporate excess but rules out windfall tax on oil and gas firmsLatest election news – live updatesJohn McDonnell has promised that a Labour government would “rewrite the rules of our economy” as he announced proposed reforms to business regulation that he said would help workers “take back control”.In a speech that made a series of attacks on corporate excess, the shadow chancellor declined to confirm that Labour is planning a windfall tax on oil and gas companies – a policy Labour had been seriously considering in recent days. Continue reading...
Guardian News and Media Limited or its affiliated companies. All rights reserved. 2019
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
Experts say ‘wheels would come off’ the competitive telecoms market
Billions in broadband spending at risk as Openreach nationalisation dismissed as ‘lunacy’
© 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.
Tech Scroll Asia, your guide to the billions made and lost in Asia tech
Sales are rising quickly, but so unfortunately are costs
Shares in world’s biggest deal this year priced at slim discount to US ADRs
Fatal Uber accident with pedestrian puts spotlight on ‘self-certifying’ approach
Google ruling reinforces view that loss of data security and control harms consumers
Hackers target distracted consumers and weak ecommerce defences
Fingerprints, facial scans, vein recognition and gait analysis among verification options
The final part of this FT report examines the importance of cyber security for ecommerce. The looming peak shopping period presents more opportunities for hackers; cyber insurance becomes mainstream; and the rise of quantum computing raises questions about encryption methods
Cyber experts fear data security will be exposed by quantum tornado
Regulator criticises company’s ‘safety culture’ and failure to prevent ‘automation complacency’
© 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.