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Thursday, October 11, 2018
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Sir Richard Branson suspends Saudi business talks over Khashoggi affair 11 Oct 6:22pm Updated Sir Richard Branson suspends Saudi business talks over Khashoggi affair
The Virgin boss was due to discuss government investment in space tourism but other western business figures remain silent on journalist’s disappearance Sir Richard Branson has suspended talks with the Saudi government over investment in his space tourism venture Virgin Galactic and has put on hold directorship of two massive tourism projects planned by Saudi Arabia along the Red Sea amid the deepening crisis over the disappearance and alleged murder of the dissident journalist Jamal Khashoggi. In a statement to the Guardian, Branson said that he had had “high hopes for the current government in the kingdom and its leader Crown Prince Mohammed bin Salman”. But reports of the regime’s involvement in the disappearance of the Washington Post columnist “if proved true, would clearly change the ability of any of us in the West to do business with the Saudi government”.
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Currencies in USD
GBP 1,26 -0,796%
EUR 1,13 -0,709%
CHF 1,00 -0,399%
Kent motorway to shut as work begins on possible post-Brexit lorry park 11 Oct 4:17pm Kent motorway to shut as work begins on possible post-Brexit lorry park
M26’s closure for site surveys angers local MP, amid wider concerns in Tory ranks about May’s Brexit plans A Kent motorway is undergoing a series of closures as work begins on turning it into a potential lorry park to deal with the possible impact of a no-deal Brexit. In the most significant practical work yet to prepare for the consequences of the UK crashing out of the EU, the M26 will be closed through the night until next week for site surveys before another set of closures in the month before Christmas to install gates in the central reservation.
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Coast fashion chain closes high street stores 11 Oct 3:00pm Coast fashion chain closes high street stores
Staff told brand is in administration but department store concessions will be sold to Karen Millen The fashion chain Coast has become the latest casualty of the high street crisis with 300 jobs and 24 stores set to go as part of an 11th-hour rescue deal. The brand’s high street stores are closing but its 145 department store concessions will carry on trading as part of the sale to sister brand Karen Millen.
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FTSE 100 falls in second day of global market turbulence 11 Oct 1:52pm FTSE 100 falls in second day of global market turbulence
Panic selling on Wall St spreads amid concern over trade disputes, inflation and Donald Trump’s clash with Federal Reserve The City has felt the full impact of a
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Tax chief received death threats over Brexit cost estimate 11 Oct 1:52pm Tax chief received death threats over Brexit cost estimate
Jon Thompson says he has changed routes to work after backlash to £20bn appraisal
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Global markets slide as Donald Trump blasts Fed, but ‘won’t fire’ Powell - business live 11 Oct 1:47pm Updated Global markets slide as Donald Trump blasts Fed, but ‘won’t fire’ Powell - business live
Rolling coverage as stocks slide in Asia and Europe, after Wall Street’s worst day in eight months
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Irish cheese maker stockpiling cheddar in case of no-deal Brexit 11 Oct 1:13pm Irish cheese maker stockpiling cheddar in case of no-deal Brexit
Ornua, owner of Kerrygold and Pilgrims Choice brands, says it is preparing for uncertainty The Irish dairy company behind well-known brands such as Kerrygold has started stockpiling cheddar in the UK to guard against the risk of a major price hike for Britain’s favourite cheese in the event of a no-deal Brexit. World Trade Organization tariffs on cheddar are as high as 42% but Irish cheese manufacturers fear sales would plummet in British supermarkets if it passed on the extra cost to the consumer.
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WH Smith to close six stores and 24 Cardmarket outlets 11 Oct 1:10pm WH Smith to close six stores and 24 Cardmarket outlets
Group to bring 40 crown post offices into its shops as overall pretax profits fall 4% WH Smith is closing about 30 stores, most of which are part of its Cardmarket budget chain, as it adapts to challenging conditions on the high street. Stephen Clarke, the chief executive, said the retailer would be closing six WH Smith stores which had “not got a hope of making any money” and about 24 Cardmarket outlets over the next three years. WH Smith would not confirm how many jobs would be affected, but Clarke said staff would probably be redeployed to other stores as the chain continued to open new outlets in hospitals, airports and other travel hubs.
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London remains a safe haven for the world’s dirty cash | Simon Jenkins 11 Oct 12:32pm London remains a safe haven for the world’s dirty cash | Simon Jenkins
The government’s new unexplained wealth orders are a hopelessly weak weapon against money launderingBritain’s denial that it launders money is like Russia’s
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Mini Ikea spin-off store opens in central London 11 Oct 12:05pm Updated Mini Ikea spin-off store opens in central London
Bedroom- and kitchen-focused Planning Studio marks firm’s shift to city centres The UK boss of
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Second Kent motorway is possible post-Brexit lorry park 11 Oct 11:44am Second Kent motorway is possible post-Brexit lorry park
M26 earmarked as holding lane for HGVs if customs checks into EU become necessary Work has started on turning a second motorway in Kent into a potential post-Brexit lorry park to deal with tailbacks to the Channel Tunnel and ports should customs checks have to be introduced. The M26 will remain closed through the night until next week as Highways England carry out site surveys and then again for more than a month before Christmas to install gates in the central reservation.
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FTSE 100 plunges into a correction as global markets hit eight-month low - business live 11 Oct 8:39am Updated FTSE 100 plunges into a correction as global markets hit eight-month low - business live
Rolling coverage as stocks slide in Asia and Europe, after Wall Street’s worst day in eight months
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Profits slide at big six energy firms as 1.4m customers switch 11 Oct 8:30am Profits slide at big six energy firms as 1.4m customers switch
Margins for 2017 drop by 10% in face of competition from smaller, challenger companies Britain’s biggest energy firms saw their profits dive by 10% last year as more than 1 million customers left them for smaller challenger companies. Profits at the so-called big six firms fell from
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Why are markets plunging and which stocks are worst hit? 11 Oct 6:26am Why are markets plunging and which stocks are worst hit?
Rising US interest rates, trade war tensions and uncertainty in Italy provide a volatile mix A volatile week across global stock markets has
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New law could force employers to reveal race pay gap figures 11 Oct 4:28am New law could force employers to reveal race pay gap figures
The scheme is intended to mirror elements of mandatory reporting of the gender pay gap
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Global stock markets hit eight-month low as shares slide in Europe, US and Asia - live 11 Oct 3:41am Global stock markets hit eight-month low as shares slide in Europe, US and Asia - live
Rolling coverage as stocks slide in Asia and Europe, after Wall Street’s worst day in eight months
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Stock market sell-off: FTSE 100 hits six-month low after rout in Asia and US - business live 11 Oct 3:22am Updated Stock market sell-off: FTSE 100 hits six-month low after rout in Asia and US - business live
Rolling coverage as stocks slide in Asia and Europe, after Wall Street’s worst day in eight months
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Johnston Press, owner of i newspaper, puts itself up for sale 11 Oct 3:15am Johnston Press, owner of i newspaper, puts itself up for sale
Struggling publisher seeks offers after lengthy refinancing talks with bondholders Johnston Press, which has titles include the i newspaper, the Scotsman and the Yorkshire Post, has put itself up for sale. The beleaguered publisher, which owns almost
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Ten years after its near-collapse, RBS is still a toxic brand | Fran Boait 11 Oct 3:00am Ten years after its near-collapse, RBS is still a toxic brand | Fran Boait
This week the bank’s chairman suggested a name change. What ii really needs to do is regain the trust of the British publicLooking back, there are two extraordinary aspects to what’s happened to RBS over the last 10 years. One is the new depths to which the bank has plummeted. It’s
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Stock market sell-off: Europe faces fresh losses after rout in Asia and US - business live 11 Oct 2:48am Updated Stock market sell-off: Europe faces fresh losses after rout in Asia and US - business live
Rolling coverage as stocks slide in Asia and Europe, after Wall Street’s worst day in eight months
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Why did Nissan dealership not tell us our car had been stolen? 11 Oct 2:00am Why did Nissan dealership not tell us our car had been stolen?
It went in for repairs, but was supposedly taken from a locked compound
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Amazon v the high street – how Doncaster is fighting back 11 Oct 1:00am Amazon v the high street – how Doncaster is fighting back
The old pit town lost 5% of its high-street shops last year – but both the council and creative locals are trying to think again Most towns and cities have the strange, uncertain spaces some people call “edgelands”, but Doncaster’s seem to go on for ever. Thanks to the Yorkshire town’s proximity to four motorways, the expanses around it are full of retail parks and distribution centres, those leviathans that sit at the heart of 21st-century consumerism. Three of them belong to Amazon. The two nearest the town centre are comparatively modest, set in a business park that also includes a Morrison’s supermarket and a Holiday Inn Express. But the newest is a breathtakingly vast black-and-silver box covering 1.1m sq ft (102,200 sq metres). On a day when bright sunlight seems to make it glow, driving around its seemingly endless walls proves to be a mesmerising experience, only spoiled by the unshakeable feeling that my little hire car and I are being watched.
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Climate change will make the next global crash the worst | Larry Elliott 11 Oct 1:00am Climate change will make the next global crash the worst | Larry Elliott
The storm clouds are gathering, but the world’s economies now have far fewer shelters from disaster than they did in 1929Late last month
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Brexit: Tony Blair warns of long-term damage to UK services sector 11 Oct 12:37am Brexit: Tony Blair warns of long-term damage to UK services sector
Former PM’s thinktank predicts impact could be twice that felt by export industries, with Chequers little better than no deal Brexit will inflict long-lasting pain on Britain’s service sector, Tony Blair has warned as a report said Theresa May’s plans will be only marginally better than no-deal on the dominant industry. An analysis carried out for the former prime minister’s Institute for Global Change said that crashing out and trading on World Trade Organisation (WTO) terms would see productivity 4.91% lower in 12 years’ time than if Britain remained in the customs union and single market.
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