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Ford to cut 7,000 jobs including more than 500 in UK

US carmaker announces plans to reduce global workforce by 10% by the end of AugustFord is to cut at least 7,000 jobs, including about 550 in the UK, as it presses ahead with plans to reduce costs in Europe and the US.The US carmaker said it planned to cut 10% of its global workforce by the end of August, after announcing plans to shrink its European operations this year. Continue reading...
Tags: Business, UK News, World news, US news, Ford, Job losses, Automotive Industry


Jaguar Land Rover reports record £3.6bn loss

Britain’s largest carmaker hit by weak Chinese market and falling diesel salesJaguar Land Rover suffered the largest loss in its history last year, sinking £3.6bn into the red as it wrestled with a weak Chinese market, falling diesel sales and a one-off downward revision to the value of its business.Britain’s largest carmaker, owned by India’s Tata Motors, pointed to a return to profitability in the fourth quarter of the year, when it recorded a £120m pretax profit. Continue reading...
Tags: Business, UK News, Jaguar Land Rover, Automotive Industry


Unions lobby investors to press Amazon over UK working conditions

GMB tells shareholders that warehouse workers endure targets that cause sufferingTrade unions are lobbying City investors to put pressure on Amazon to improve conditions for its workers in the UK.At a meeting at the TUC’s head office this month the GMB union made presentations, including one from an Amazon employee, to a dozen leading fund managers and pension funds that own stakes in Amazon including Legal & General, Baillie Gifford and Aberdeen Standard. Continue reading...
Tags: Amazon, Business, Politics, Technology, Internet, UK News, E-commerce, Work & careers, Trade unions, TUC, Jeff Bezos


Royal Mail to launch UK's first parcel postboxes

Parcel boxes to be introduced across the country, with aim to help small businessesThe Royal Mail is launching the UK’s first parcel postboxes across the country.The move follows a successful trial and is the first major change in the use of postboxes in 160 years. Continue reading...
Tags: Business, Small Business, UK News, Royal Mail, Postal Service


Too much has been sacrificed to allow Brexit to destroy Europe’s unity

As the anniversaries of D-Day and Monte Cassino approach, we should remember how and why the ‘European project’ startedShortly after Thursday’s elections for the European parliament, we shall be witnessing the 75th anniversaries of D-Day and of the terrible carnage of the battle of Monte Cassino. One hopes that memories of these events – or, in many cases, learning about them for the first time – may concentrate minds on all sides in the debate about our future relationship with the rest of Euro...
Tags: Economics, Brexit, European Union, Second world war, Foreign policy, European elections, D-day, European parliamentary elections 2019, Europe, UK news, Business, Politics, World news


Rail chiefs confident timetable change will not repeat 2018 chaos

More than 1,000 extra services a week will be added to UK timetables from SundayRail passengers have been advised to check times before travelling from Sunday as train operators prepare for a fresh timetable change, following months of scrutiny and preparation to avert the chaos that engulfed the railways last May.The biggest changes will come on South Western Railway (SWR) from Monday, with hundreds of extra services a week from the home counties into Waterloo station in London. Nationwide, mor...
Tags: Rail transport, Rail industry, Transport, UK news, Business


Asos tycoon who lost children in Sri Lanka attacks thanks public

Anders and Anne Holch Povlsen thank those who offered condolences after three of their children were killedThe Povlsen family have thanked the public for their condolences after they lost three of their four “beloved and beautiful” children in the terrorist attacks in Sri Lanka.Anders and Anne Holch Povlsen, who own an estimated 80,000 hectares (200,000 acres) in the Scottish Highlands, said the many words of comfort they had received since the attacks last month had touched their hearts. Contin...
Tags: Business, Scotland, UK News, World news, South and Central Asia, Asos, Sri Lanka, Anders, Povlsen, Sri Lanka attacks, Anne Holch Povlsen, Sri Lanka Anders


Huawei poses security threat to UK, says former MI6 chief

Report calling for 5G ban in UK comes as Netherlands said to be investigating Huawei espionageHuawei should be completely banned from supplying 5G mobile networks in the UK because its operations are “subject to influence by the Chinese state”, according to a report by a Conservative MP and two academics.They argue that a decision announced by Theresa May last month, following a fraught meeting of the National Security Council (NSC), to allow the company to supply “non-core” equipment should be ...
Tags: Business, UK, Technology, Privacy, China, Conservative, UK News, Surveillance, Theresa May, Netherlands, Telecommunications industry, Telecoms, MI6, Huawei, 5g, National Security Council NSC


Trump pardons fraudster Conrad Black after glowing biography

Former media mogul who owned Daily Telegraph spent more than three years in prisonConrad Black, the former media mogul who owned the Daily Telegraph and the Spectator before being jailed for fraud, has been pardoned by Donald Trump – shortly after writing a book praising the US president.The Canadian-born British citizen was once known for his extravagant lifestyle as he ran an international newspaper empire that included the Chicago Sun-Times and the Jerusalem Post. But he ended up serving thre...
Tags: Business, US, UK News, World news, US news, US politics, US crime, Donald Trump, Daily Telegraph, Trump, Chicago Sun Times, Jerusalem Post, Conrad Black, Trump Administration


Conrad Black: Trump pardons convicted fraudster who wrote flattering book

Former media mogul who owned Daily Telegraph spent more than three years in prison on fraud chargesConrad Black, the former media mogul who owned the Daily Telegraph and The Spectator before being sent to prison for fraud, has been pardoned by Donald Trump – shortly after writing a book praising the US president.The Canadian-born British citizen was once known for his extravagant lifestyle as he ran an international newspaper empire that also included the Chicago Sun-Times and the Jerusalem Post...
Tags: Business, US, UK News, World news, US news, US politics, US crime, Donald Trump, Daily Telegraph, Trump, Chicago Sun Times, Jerusalem Post, Conrad Black, Trump Administration


Brexit chaos hits Thomas Cook as losses mount to £1.5bn

Firm writes down value of MyTravel, says UK customers are delaying holiday bookingsThe scale of the crisis affecting Thomas Cook was laid bare on Thursday as the embattled travel firm posted a £1.5bn first-half loss, issued its third profit warning in less than a year and admitted that British customers have postponed travel plans for this summer because of Brexit uncertainty.Thomas Cook, which has debts of £1.2bn, sought to allay fears of a looming cash crunch by announcing it had secured £300m...
Tags: Business, UK, Travel & leisure, UK News, Thomas Cook, Brexit, MyTravel


Germany returns to growth; relief as Trump ‘delays car tariffs’ - as it happened

Germany’s economy has returned to growth, but retail spending has fallen in China and the USLatest: Trump to delay car tariffs US retail sales disappointChinese retail sales growth hits 16-year lowIntroduction: Germany grew by 0.4% in last quarterMinister: It’s a ray of hope 9.06pm BST Finally. the US stock market has ended higher for the second day running. 8.25pm BST German carmakers roared to the top of the Frankfurt stock market today.BMW gained 3.1% and Daimler rose by almost 3%, on...
Tags: Europe, Business, China, Germany, US, America, International Trade, Economics, UK News, Stock Markets, Frankfurt, Bmw, Daimler, Trump


Wall Street rallies as Trump ‘delays car tariffs’ - business live

Germany’s economy has returned to growth, but retail spending has fallen in China and the USLatest: Trump to delay car tariffs US retail sales disappointChinese retail sales growth hits 16-year lowIntroduction: Germany grew by 0.4% in last quarterMinister: It’s a ray of hope 7.21pm BST Technology companies are leading today’s Wall Street rally.Alphabet (Google) is one of the top risers on the S&P 500, up over 4%, with Facebook (+3.3%) and Twitter (+3%) also standing proud on the leaderboard....
Tags: Facebook, Europe, Business, Japan, Washington, White House, China, Germany, US, International Trade, Economics, Eu, UK News, Stock Markets, Beijing, Tokyo


Tax authorities mount raids on 19 German banks and homes

Investigation is linked to Panama Papers and part of money laundering allegationsEleven banks and eight private homes and offices across Germany have been raided by police and tax investigators as part of a wide-ranging investigation into tax evasion.The raids, which began at dawn on Wednesday and went on into the afternoon, were part of the same investigation started last November over money laundering allegations linked to the so-called Panama Papers scandal, alleged to involve Deutsche Bank....
Tags: Europe, Business, Germany, UK News, World news, Banking, Panama, Tax Havens, Panama Papers, Deutsche Bank Continue


Germany returns to growth, but US retail sales and factory output fall - business live

Germany’s economy has returned to growth, but retail spending has fallen in China and the USLatest: US retail sales disappointChinese retail sales growth hits 16-year lowIntroduction: Germany grew by 0.4% in last quarterConsumer spending, construction and equipment investment all helpedMinister: It’s a ray of hopeGermany had shrunk in Q3 2018, flat in Q4 3.20pm BST US treasury secretary Steven Mnuchin is testifying on Capitol Hill now.He’s told lawmakers that he expects to visit Beijing soon...
Tags: Europe, Business, New York, China, Germany, US, International Trade, Economics, UK News, Stock Markets, Beijing, Capitol Hill, Steven Mnuchin


Germany shrugs off recession fears, but US retail sales fall - business live

Germany’s economy has returned to growth, but retail spending has fallen in China and the USLatest: US retail sales disappointChinese retail sales growth hits 16-year lowIntroduction: Germany grew by 0.4% in last quarterConsumer spending, construction and equipment investment all helpedMinister: It’s a ray of hopeGermany had shrunk in Q3 2018, flat in Q4 2.15pm BST The surprise 0.2% fall in US retail sales last month is a worrying sign, say economists.Andrew Hunter of Capital Economics point...
Tags: Europe, Business, China, Germany, US, International Trade, Economics, UK News, Stock Markets, Capital Economics, AMZN, Andrew Hunter


Germany shrugs off recession fears, but China's economy stumbles - business live

Rolling coverage of the latest economic and financial news, including new GDP figures from Europe’s largest economyIntroduction: Germany grew by 0.4% in last quarterConsumer spending, construction and equipment investment all helpedMinister: It’s a ray of hopeGermany shrunk in Q3 2018, flat in Q4 9.19am BST Germany’s economy ministry has welcomed the pick-up in growth last quarter -- but also warned that the US-China trade war is still a key threat. In a new report, the ministry says:“The Ge...
Tags: Europe, Business, China, Germany, US, International Trade, Economics, UK News, Stock Markets, US China


Germany shrugs off recession fears by returning to growth - business live

Rolling coverage of the latest economic and financial news, including new GDP figures from Europe’s largest economyIntroduction: Germany grew by 0.4% in last quarterConsumer spending, construction and equipment investment all helpedMinister: It’s a ray of hopeGermany shrunk in Q3 2018, flat in Q4 8.10am BST German Q1 GDP at +0.4% q/q was a touch weaker than we had penciled in, but still showed a remarkable resilience of domestic demand to the many external headwinds. 1/n pic.twitter.com/WYs4...
Tags: Europe, Business, Germany, International Trade, Economics, UK News, Stock Markets, Carsten Brzeski


One in four northerners earn less than 'real living wage', says study

Many in north of England on zero-hours contracts earn under £9 an hour, says IPPROne in four workers in the north of England are paid less than the “real living wage” of £9 an hour, a study has found.The rise of zero-hours contracts and a decade of stagnant wages has left 1.6 million northerners earning less than what they need to live, according to the thinktank IPPR North. Continue reading...
Tags: Business, England, UK News, Pay, Work & careers, Zero-hours contracts, North Of England, IPPR North Continue


Huawei 'prepared to sign no-spy agreement with UK government'

Chinese telecoms company’s chairman says concerns about surveillance are overblownHuawei’s chairman has said the Chinese company would be prepared to sign a “no-spy agreement” with the British government to reassure politicians it has no intention of allowing its technology to be used for surveillance.Speaking on a visit to London, Liang Hua said the company did not want to spy on western consumers and that concerns about Chinese laws requiring the company to cooperate with the regime’s intellig...
Tags: Business, UK, Technology, Privacy, UK News, World news, Surveillance, Telecommunications industry, Telecoms, Huawei, London Liang Hua


Huawei founder 'would shut it down' if China asked it to eavesdrop

Telecoms firm insists it has never been asked to spy after political row over 5G networkThe founder of the Chinese telecoms equipment firm Huawei would “shut the company down” if he was asked by the country’s communist regime to eavesdrop on mobile phone calls, according to a senior executive at the fast-growing multinational.Tim Watkins, the company’s vice-president for western Europe, said Huawei had never been asked by the Chinese government to conduct surveillance despite a recently introduc...
Tags: Europe, Business, Technology, China, UK News, World news, Surveillance, Telecommunications industry, Telecoms, Huawei, Tim Watkins


Britain risks heading to US levels of inequality, warns top economist

Sir Angus Deaton says UK is at risk of extreme inequality in pay, wealth and healthRising inequality in Britain risks putting the country on the same path as the US to become one of the most unequal nations on earth, according to a Nobel-prize winning economist. Sir Angus Deaton is leading a landmark review of inequality in the UK amid fears that the country is at a tipping point due to a decade of stagnant pay growth for British workers. The Institute for Fiscal Studies thinktank, which is work...
Tags: Health, UK, Money, US, Society, UK News, Pay, Institute for Fiscal Studies, Family finances, Poverty, Mental Health, Britain, Social exclusion, Inequality, Deaton, Angus Deaton


Live music venue the Borderline to close over rising West End rents

Host of early performances by Oasis and Amy Winehouse will close its doors at end of AugustThe historic live music venue the Borderline, host to Rage Against the Machine, Oasis and Amy Winehouse early in their careers as well as REM and Debbie Harry, is to close in the latest blow to London’s embattled nighttime economy.Blaming rising rents in the West End, licensing pressures and the redevelopment of the building where it is housed, the owners of the Borderline – which will close its doors at t...
Tags: Business, Music, London, UK News, Music Industry, Amy Winehouse, West End, Oasis, Debbie Harry, Rage Against the Machine Oasis


Trade war: China hits back with new tariffs on US goods - business live

Beijing retaliates to America’s new tariffs with fresh taxes of its own, despite president Trump warning them not to BREAKING: China retaliates with new tariffsTariffs on $60bn of US goods begin in JuneTrump warns China will be hurt badlyYuan hits lowest level since January; soybeans at record lowAmerica now drawing up tariffs on all Chinese goods 2.24pm BST The official statement from China’s Ministry of Finance is online here, in Mandarin.It appears that China is hiking the tariffs on over...
Tags: Business, China, US, America, International Trade, Economics, Eu, UK News, US news, Stock Markets, Beijing, United States, Global Economy, Donald Trump, Trump, Ministry Of Finance


Trade war: Trump warns China not to retaliate over tariffs - business live

Rolling coverage of the latest economic and financial news, as fears of a deepening trade war hit shares in AsiaLatest: Trump warns China will be hurt badlyChina vows not to surrender Yuan hits lowest level since January; soybeans at record lowAmerica now drawing up tariffs on all Chinese goodsIntroduction: Beijing expected to retaliate to US tariffs 12.20pm BST Is Donald Trump correct that China picks up most of the new tariffs on their goods entering the US, as he just tweeted?It appear no...
Tags: Business, China, US, International Trade, Economics, UK News, US news, Stock Markets, Beijing, Global Economy, Columbia University, University Of California Berkeley, Donald Trump, Yuan, Ucla, Trump


Trade war: Markets hit seven-week low as Beijing vows not to 'surrender' - business live

Rolling coverage of the latest economic and financial news, as fears of a deepening trade war hit shares in AsiaLatest: China vows not to surrender; US expects retaliation soon Yuan hits lowest level since January; soybeans at record lowAmerica now drawing up tariffs on all Chinese goodsEuropean markets hit seven-week lowIntroduction: Beijing expected to retaliate to US tariffs 11.13am BST Chinese state television is also hammering home the ‘never surrender’ message.Reuters reports:State tel...
Tags: Business, China, US, International Trade, Economics, UK News, US news, Stock Markets, Beijing, Global Economy, Donald Trump, Yuan, Reuters, People 's Daily, AsiaLatest, People 's Daily Newspaper


Trade war: Markets hit seven-week low as Beijing vows 'no surrender' - business live

Rolling coverage of the latest economic and financial news, as fears of a deepening trade war hit shares in AsiaIntroduction: Beijing expected to retaliate to US tariffs Latest: China vows not to surrenderAmerica now drawing up tariffs on all Chinese goodsKudlow: Expect retaliation soonTrump and Xi could discuss issue at June’s G20 meetingShares fall across Asia; soybean prices hit 10-year low 9.14am BST Newsflash: China’s government has hit back at Washington, vowing not to cave into attack...
Tags: Asia, Business, Washington, China, US, America, International Trade, Economics, UK News, US news, Stock Markets, Beijing, Global Economy, Donald Trump, Trump, Reuters


Trade war: Investors brace for China retaliation to US tariffs - business live

Rolling coverage of the latest economic and financial news, as fears of a deepening trade war hit shares in AsiaIntroduction: Beijing expected to retaliate to US tariffs America now drawing up tariffs on all Chinese goodsTrump and Xi could discuss issue at June’s G20 meetingShares fall across Asia 8.05am BST The stock market boards in China are a sea of green today - and that’s bad news for investors, as it means shares are falling. “The lack of resolution in the latest U.S.-China trade talk...
Tags: Asia, Business, White House, China, US, America, International Trade, Economics, UK News, US news, Stock Markets, Beijing, Global Economy, Fox News, Donald Trump, Trump


Number of public sector pensioners on £100k trebles in seven years

Critics say it’s unfair on younger workers who must fund such generous payouts as well as paying more for their own retirementThe number of people in the public sector’s largest pension schemes retiring on incomes of more than £100,000 has more than tripled in the past seven years, according to figures obtained by a charity promoting intergenerational fairness.Pensions schemes covering the NHS, the civil service and the teaching profession were paying six-figure incomes last year to 375 retirees...
Tags: Money, Society, UK News, Civil Service, Teaching, NHS, Pensions


Britain must do more to stop drug firms from lining their pockets | Stephen Doughty

Overcharging for life-saving medicines costs lives, yet the UK seems reluctant to support efforts to encourage fairer pricingIn a year when the British government should be working to secure progress towards universal health coverage, they are failing to champion access to life-saving medicines globally.The Italian government has put forward a draft resolution to improve the transparency of markets for drugs, vaccines and other health-related technologies, to be discussed at the World Health Ass...
Tags: Business, UK, UK News, World news, Britain, Global development, Pharmaceuticals industry, Stephen Doughty, Global Health, World Health Assembly



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