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Friday, August 23, 2019
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Mark Carney: dollar is too dominant and could be replaced by digital currency 23 Aug 3:01pm Mark Carney: dollar is too dominant and could be replaced by digital currency
Bank of England governor says stockpiling dollars has become a barrier to global trade The Bank of England governor, Mark Carney, has challenged the dollar’s position as the world’s reserve currency, arguing that it could be replaced by a global digital alternative to end a savings glut that resulted in 10 years of low inflation and ultra-low interest rates. Likening the move to the end of sterling’s command of international money markets 100 years ago, Carney said the dollar had reached a level of dominance that meant it was a barrier to a sustainable recovery.
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Currencies in USD
GBP 1,25 +0,964%
EUR 1,11 +1,261%
CHF 1,01 +0,690%
The Guardian view on the global economy: opportunities wasted | Editorial 23 Aug 1:30pm The Guardian view on the global economy: opportunities wasted | Editorial
The G7 summit in Biarritz this weekend will fail to rise to any of its urgent challengesRarely has there been more need of collective action on the world’s problems than at the G7 summit hosted by Emmanuel Macron in Biarritz this weekend. Rarely have the chances of success appeared so miserably low. The G7 is supposed to be the forum where the west’s leading nations get to grips with thorny economic and political issues, and even though life has moved on since a previous French president, Valéry Giscard d’Estaing, hosted the first get-together at Rambouillet in 1975, there is plenty to talk about. Three subjects scream out for attention: protectionism, Brexit and the climate emergency. As in the mid-1970s, the global economy is not in good shape. Growth is slowing and there is a hint of recession in the air. In two G7 members –
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British Airways pilots to strike for three days in September 23 Aug 12:36pm British Airways pilots to strike for three days in September
Airline says industrial action over pay will disrupt plans of ‘tens of thousands’ of passengers Pilots at British Airways will go on strike for three days in September after talks failed to settle a long-running pay dispute, the union has announced. The pilots will take industrial action on 9, 10 and 27 September in a move that BA said was likely to disrupt the plans of “tens of thousands” of passengers.
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Ann Summers chief criticises landlords over high rents 23 Aug 12:32pm Ann Summers chief criticises landlords over high rents
Jacqueline Gold wins rent reductions on 95 of 100 stores but CVA remains an option The Ann Summers chief executive has accused some retail landlords of “burying their heads in the sand” by ignoring the crisis on the high street, after several refused to accept lower rents to support the chain. The
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Eddie Stobart suspends trading in its shares after accounting error 23 Aug 11:45am Eddie Stobart suspends trading in its shares after accounting error
Haulage company stuns investors as chief executive stands down immediately Eddie Stobart, best known for its 2,700 green and red trucks plying Britain’s motorways, has stunned investors by suspending trading in its shares after an accounting investigation found that profits had been overstated. The company said there was a £2m error in its 2018 accounts, and that profits for the first half of 2019 would be “significantly lower” than forecast. Its chief executive, Alex Laffey, will stand down “with immediate effect”.
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Let’s move to West Kirby, Merseyside: a monument to the way things used to be 23 Aug 11:29am Let’s move to West Kirby, Merseyside: a monument to the way things used to be
With bowling greens and municipal parks skirting the prom, this town should be preserved in its entirety as a monument to traditional aspiration
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Trump takes aim at Fed as China unveils fresh tariffs on US goods – business live 23 Aug 11:02am Trump takes aim at Fed as China unveils fresh tariffs on US goods – business live
Rolling coverage of economics, business and markets as China announced new tariffs on US imports, overshadowing a speech by Fed chair Jerome Powell
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Deutsche Bank to pay $16m to settle US ‘princelings’ case 23 Aug 8:59am Deutsche Bank to pay $16m to settle US ‘princelings’ case
German lender was accused of hiring unqualified relatives of foreign officials to win business
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The next global recession will be immune to monetary solutions | Nouriel Roubini 23 Aug 8:42am The next global recession will be immune to monetary solutions | Nouriel Roubini
Unlike in 2008, we now face the consequences of three potential negative supply shocks There are three negative supply shocks that could trigger a
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Peaky Blinders fever: from David Beckham-backed clothing to a two-day festival 23 Aug 8:00am Peaky Blinders fever: from David Beckham-backed clothing to a two-day festival
As the BBC’s cult gangster drama returns, superfans help to take the brand global Get set for peak Peaky Blinders as the return of the cult gangster drama heralds a global expansion, from a dapper clothing range backed by David Beckham to books, video games and its own two-day festival. The eagerly awaited fifth series of the Birmingham-set show returns on Sunday, making its debut on BBC1, the nation’s most-watched channel – a testament to its elevation to crown jewel status alongside the corporation’s biggest returning dramas such as Line of Duty.
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Royal Bank of Scotland and Santander rebuked for breaking PPI rules 23 Aug 7:57am Royal Bank of Scotland and Santander rebuked for breaking PPI rules
Days before mis-selling scandal deadline, regulator says correct reminders were not sent The UK’s competition authority has rebuked Royal Bank of Scotland and Santander for breaching payment protection insurance rules just days
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French wine-makers hope for G7 detente with Trump over tariffs 23 Aug 7:39am French wine-makers hope for G7 detente with Trump over tariffs
Trump had threatened high tariffs on French wine as punishment for Macron’s tax on tech firms French wine-makers are increasingly concerned about Donald Trump’s threats to introduce high tariffs on French wine in retaliation for Emmanuel Macron’s tax on global technology giants, as world leaders gather at the Biarritz G7 summit this weekend. A new front in Trump’s international trade wars could open up across France’s vineyards, damaging the livelihoods and jobs of small producers, if the US president decides to
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Greggs to develop vegan versions of all its bestselling foods 23 Aug 7:05am Greggs to develop vegan versions of all its bestselling foods
Success of Quorn sausage roll prompts baker to up ante with more vegan products
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RBS and Santander rapped over PPI failures – business live 23 Aug 6:42am Updated RBS and Santander rapped over PPI failures – business live
Rolling coverage of economics, business and markets as the competition regulator demands bank changes
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Hasbro buys Peppa Pig owner Entertainment One in £3.3bn deal 23 Aug 3:31am Hasbro buys Peppa Pig owner Entertainment One in £3.3bn deal
UK-listed firm is latest one to be targeted by a foreign buyer amid no-deal Brexit fears Hasbro, the US toymaker behind My Little Pony and Play-Doh, has snapped up the Peppa Pig owner Entertainment One in a £3.3bn takeover. The deal, which sent Entertainment One’s share price soaring by 30% in early trading on Friday, marks the latest UK-listed company to be targeted by a foreign buyer since the dramatic weakening of the pound over fears of a no-deal Brexit.
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Employee activism is rising as companies challenged over controversial issues 23 Aug 2:30am Employee activism is rising as companies challenged over controversial issues
Google was latest company to be lobbied by its employees as they urged it not to work with US agencies involved with the separation and detention of immigrants Last week, Google became the latest company to be publicly lobbied by its own employees specifically because of US immigration policy. More than 1,300 Google workers have
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Homes that can be let – in pictures 23 Aug 2:00am Homes that can be let – in pictures
From a former mill in Cumbria to a Victorian house on the edge of Exmoor, homes to generate an earning
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