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Thursday, December 6, 2018
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Panic as the US-China trade war truce lasts less than a week | Nils Pratley 6 Dec 2:44pm Panic as the US-China trade war truce lasts less than a week | Nils Pratley
US and UK markets lose all the gains of a year as trade tensions suddenly look ominous Investors were already confused about where the great US-China trade war was going next, not least because President Trump is capable of sending contradictory signals in the space of two tweets. Now they’re seriously alarmed.
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Currencies in USD
GBP 1,27 +0,553%
EUR 1,14 +0,176%
CHF 1,01 +0,199%
Stock market turmoil wipes £56bn off FTSE 100, in worst day since Brexit vote - business live 6 Dec 2:33pm Updated Stock market turmoil wipes £56bn off FTSE 100, in worst day since Brexit vote - business live
London stock market has suffered its worst day in over two years, as the FTSE 100 falls by 217 points (3.15%) to 6704
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Oil prices plunge as Opec delays decision on cutting output 6 Dec 12:02pm Updated Oil prices plunge as Opec delays decision on cutting output
Price falls to $59.48 a barrel as world’s major producers postpone expected announcement Oil prices have fallen by more than 3% to below $60 a barrel, after the world’s major producers postponed announcing an expected cut in output. At a crunch meeting in Vienna this week, the Opec cartel has tried to plot a course between protecting member countries’ revenues and not angering Donald Trump, who just hours before
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Wall Street tumbles after Huawei arrest, as US trade gap hits 10-year high – business live 6 Dec 11:29am Updated Wall Street tumbles after Huawei arrest, as US trade gap hits 10-year high – business live
Shares have been hit by the shock arrest of Huawei CFO Meng Wanzhou
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Pizza Express founder Peter Boizot dies aged 89 6 Dec 9:55am Pizza Express founder Peter Boizot dies aged 89
Man hailed as casual dining revolutionary has died at home in Peterborough Peter Boizot, founder of the restaurant chain Pizza Express, has died at his home in Peterborough aged 89. Boizot opened the first Pizza Express restaurant on Wardour Street in Soho, London, in 1965 and has been credited by many with revolutionising the casual dining experience. The brand now has more than 500 restaurants worldwide.
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I drafted article 50. We can and must delay Brexit for a referendum | John Kerr 6 Dec 9:45am I drafted article 50. We can and must delay Brexit for a referendum | John Kerr
Every EU state would agree to extend article 50 for a people’s vote on a bad deal or the one we’ve gotPeople once dreamed of a Brexit that would give Britain more control and free us from paying anything to Brussels, while opening up the prospect of huge new trade deals and “
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Stock markets slump after Huawei arrest, as US trade gap hits 10-year high – business live 6 Dec 9:06am Stock markets slump after Huawei arrest, as US trade gap hits 10-year high – business live
Shares have been hit by the shock arrest of Huawei CFO Meng Wanzhou
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Stock markets slump as Huawei arrest fuels trade war fears – business live 6 Dec 9:04am Updated Stock markets slump as Huawei arrest fuels trade war fears – business live
Shares have been hit by the shock arrest of Huawei CFO Meng Wanzhou
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Huawei faces catastrophe in the technology cold war 6 Dec 7:51am Huawei faces catastrophe in the technology cold war
If the US can prove the Chinese firm broke sanctions, Huawei could grind to a halt The arrest in Canada of the chief financial officer of the Chinese mobile
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Hot and cold: Thames Water blames problem leaks on the weather 6 Dec 7:11am Hot and cold: Thames Water blames problem leaks on the weather
Regulator fines dent profits as utility says cold snap and heatwave hampered repairs Thames Water has warned that the summer heatwave and the “beast from the east” cold spell last winter held back its efforts on reducing leaks, as it reported a slump in half-year profits due to regulatory penalties. Even though it fixed 1,431 leaks a week, its best performance in a decade, Britain’s biggest water company admitted its leakage performance worsened, with 683m litres a day lost in the six months to 30 September, compared with 665m in the same period in 2017.
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Is the gig economy what it has been cracked up to be? 6 Dec 7:00am Is the gig economy what it has been cracked up to be?
Are people really making a living doing this stuff? A study concludes that you may want to keep your day job The “gig” economy was supposed to be an opportunity for entrepreneurs to be their own boss. Everyone from Uber to Postmates, Lyft, Airbnb, Turo and Parklee have all sold themselves as platforms for freelancers and would-be entrepreneurs to work for themselves. But what about the dollars and cents? Are people really making a living doing this stuff? Can they quit their jobs and become full-time entrepreneurs driving for Uber or Lyft? Unfortunately, that’s probably not a great idea.
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O2 outage: 31m mobile customers unable to get online 6 Dec 6:31am O2 outage: 31m mobile customers unable to get online
Technical fault also hits Tesco Mobile and Sky Mobile users as O2 blames global software issue at supplier More than 30 million mobile customers of providers including O2, Tesco Mobile and Sky Mobile have been unable to get online or use 3G and 4G services after a technical fault caused a UK-wide outage. The outage hit O2 and also affected companies that use its network including its subsidiary Giffgaff and Lycamobile. It began at about 4am on Thursday, according to the website DownDetector.
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Two Tesco directors cleared of false accounting 6 Dec 6:31am Two Tesco directors cleared of false accounting
Southwark crown court case relates to £250m black hole found in profits in 2014 Former Tesco directors Chris Bush and John Scouler have been cleared of false accounting at Southwark Crown Court. The case at Southwark crown court related to an alleged hole in Tesco’s accounts revealed in September 2014 when the company told the stock market it had overestimated profits by about £250m. The announcement
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UK betting firms back live sports advertising ban 6 Dec 5:56am UK betting firms back live sports advertising ban
Online gambling firms such as Bet365, William Hill and Ladbrokes agree ban amid fears of impact on children Online gambling companies have agreed to a voluntary “whistle-to-whistle” ban on
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Joules stocks up for 2019 amid no-deal Brexit fears 6 Dec 5:39am Joules stocks up for 2019 amid no-deal Brexit fears
UK clothing brand brings forward spring-summer orders and rents warehouse in mainland Europe The British clothing brand Joules is stocking up early on next year’s spring and summer ranges and has rented an EU warehouse in preparation for a no-deal Brexit. The company said it was bringing forward its product orders for its spring and summer 2019 ranges, including its classic striped Breton Harbour tops, hand-drawn printed scarves and light coats and jackets. This is to ensure its deliveries will not be held up by delays at the ports if the UK crashes out of the EU without an agreement in March.
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FTSE 100 slumps to two-year low as Huawei arrest rattles markets – business live 6 Dec 5:24am Updated FTSE 100 slumps to two-year low as Huawei arrest rattles markets – business live
Shares have been hit by the shock arrest of Huawei CFO Meng Wanzhou
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FTSE 100 hits two-year low as Huawei arrest rattles markets – business live 6 Dec 4:45am Updated FTSE 100 hits two-year low as Huawei arrest rattles markets – business live
Shares have been hit by the shock arrest of Huawei CFO Meng Wanzhou
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Thames Water blames leak repair delays on weather 6 Dec 4:19am Thames Water blames leak repair delays on weather
Water company blames beast from the east cold snap and summer heatwave as profits slump Thames Water has warned that the summer heatwave and the “beast from the east” cold spell last winter delayed its progress on fixing leaks, as it reported a slump in half-year profits due to regulatory penalties. Britain’s biggest water company’s leakage performance actually worsened, with 683m litres a day lost in the six months to 30 September, compared with 665m in the same period in 2017.
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China demands release of Huawei executive arrested in Canada 6 Dec 4:12am China demands release of Huawei executive arrested in Canada
Detention of Meng Wanzhou, who faces US extradition, reportedly related to alleged sanctions violations
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Central bank warnings on the global economy are getting louder 6 Dec 3:16am Central bank warnings on the global economy are getting louder
The reasons to stay awake at night are multiplying – let’s hope this time we have priced the risks correctly When I took over responsibility for banking supervision in the United Kingdom, in 1995, a wise old bird in the Bank of England (BoE) warned me that I would find it a thankless task. No newspaper ever prints a headline reading “All London Banks Safe and Sound this Week.” But if a problem occurs, it is almost invariably seen as a case of supervisory failure. Dozy watchdogs asleep at the wheel are a trope that trips quickly into journalists’ coverage. Regulators are caught in a crossfire of conflicting expectations. Banks want to be left alone, unless they need help. Consumers and their political representatives want regulators to be aware of every transaction, ready to intervene in real time if any glitch occurs. In the years running up to the 2008 financial crisis, the pendulum swung toward the non-interventionist end of the spectrum. Today, “intrusive” has a positive connotation in the regulatory lexicon. But the need to strike a sensible balance remains.
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Markets rattled by Huawei arrest, as Opec ministers meet – business live 6 Dec 3:07am Updated Markets rattled by Huawei arrest, as Opec ministers meet – business live
Rolling coverage of the latest economic and financial news, as shares are hit by the shock arrest of Huawei CFO Meng Wanzhou
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Thomas Cook ‘special assistance’ was anything but for my mobility issues 6 Dec 1:59am Thomas Cook ‘special assistance’ was anything but for my mobility issues
Despite a £380 bill for extra leg room, the seats never materialised on the flight
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