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Press Round-Up Short (Premium)
31 Oct
noticias
Tuesday newspaper round-up: Brexit vote, construction, dairy, Pearson

A Brexit agreement with the EU would need to be enshrined in law and be subject to scrutiny and a vote by MPs and peers, ministers have conceded. Until now Theresa May and David Davis, the Brexit secretary, have insisted that parliament will only be given a “take it or leave it” vote on the overall deal, without the need for primary legislation. - The Times.

30 Oct
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Monday newspaper round-up: Budget hole, Fed head, trains, Tesco

Fresh analysis that reveals a hole of almost £20bn in the public finances will heighten the pressure on the chancellor, Philip Hammond, ahead of next month’s budget. Britain is on track for the deficit – the gap between government spending and tax receipts – to reach £36bn by 2021-22, more than twice the initial official forecast of £17bn, according to the Institute for Fiscal Studies (IFS). - Guardian.

27 Oct
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Friday newspaper round-up: Deutsche Boerse, billionaires, Amazon

The chief executive of Germany’s stock exchange has resigned to avoid distractions caused by allegations that he has been involved in insider dealing. The Frankfurt-based Deutsche Börse announced Carsten Kengeter would leave at the end of the year just days after a German court refused to back a settlement over the allegations under which he had agreed to a €500,000 (£443,281) penalty and the Börse €10. 5m. – Guardian.

26 Oct
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Thursday newspaper round-up: Mental health, UK tax rules, banks

About 300,000 people with a long-term mental health problem lose their jobs each year, a review commissioned by Theresa May has found. The Thriving at Work report, published on Thursday, puts the annual cost to the UK economy of poor mental health at up to £99bn, of which about £42bn is borne by employers. – Guardian.

25 Oct
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Wednesday newspaper round-up: Poundland, Twitter, Saudi Arabia

Poundland is being forced to redesign its copycat Toblerone bar, but can sell half a million of the lookalike chocolate this Christmas after reaching a sweet deal with the Swiss original’s owners. In July, the budget chain was forced to delay the launch of its Twin Peaks bar, which has two points per segment, rather than the single peak of a Toblerone, after a legal warning from the brand’s owner, a Swiss division of US confectionery and snacks group Mondelēz.

24 Oct
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Tuesday newspaper round-up: Lloyds, Dr Martens, Saudi Aramco

Sir Hector Sants, a former chief City regulator, is due to give evidence to the high court in private in relation to a case brought by Lloyds Banking Group shareholders over the information they were provided at the time of the HBOS takeover in 2008. The former chief executive of the Financial Services Authority made an application in July to allow him to give evidence in private. This can now be reported after an application to the high court made by five media organisations, including the Guardian, to establish what the judge had described as the “special arrangements” that have been put in place for him to give evidence.

23 Oct
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Monday newspaper round-up: Budget crunch, wages, manufacturers, GKN, Spire, BT

Philip Hammond has been warned by cabinet colleagues that he faces an ambush on the budget from Tories who want him out. Senior government figures fear that the chancellor has become so toxic that he does not have sufficient authority to get difficult measures through the Commons. - The Times.

20 Oct
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Friday newspaper round-up: Pensions, HBOS, Royal Mail, M&S mortgages

One of the most ambitious IT projects ever undertaken in financial services, to provide individuals with an online “pensions dashboard” covering all the schemes they may have, has been given the go ahead by the government. The Department for Work and Pensions is aiming to bring all the 64m different pension pots in Britain under one roof so that individuals can see all their entitlements in one place. – Guardian.

19 Oct
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Thursday newspaper round-up: Low pay, Lloyds, Bombardier, BP

Britain’s low pay culture traps people in poorly paid jobs and prevents them from escaping into full-time work with better pay, according to a major study by the government-backed body that tracks social mobility. Only one in six workers on low pay managed in the last 10 years to push themselves up the pay ladder and stay there, while most remained stuck in a cycle of part-time and insecure jobs. – Guardian.

18 Oct
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Wednesday newspaper round-up: Sainsbury's, Rio Tinto, Monarch

Sainsbury’s is axing 2,000 store and back office roles as the supermarket chain looks to slash costs by £500m amid an intensifying price war with Aldi and Lidl. The retailer is restructuring its HR departments, getting rid of 1,400 store-based clerks and another 600 staff based in the back offices that serve the chain as well as Argos and Sainsbury’s bank. - Guardian.

17 Oct
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Tuesday newspaper round-up: Brexit dinner, Spain, Interserve, Lloyds

Theresa May's hopes of breaking a deadlock in Brexit talks appeared to be given a boost after she and Jean-Claude Juncker agreed to "accelerate" negotiations. The Prime Minister flew out to dinner with Mr Juncker, the President of the European Commission, after a Brexit charm offensive with other EU leaders ahead of a summit on Thursday. - Telegraph.

16 Oct
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Monday newspaper round-up: Missing £490bn, May to Brussels, Chancellor's plans

Global banks and international bond strategists have been left stunned by revised ONS figures showing that Britain is £490bn poorer than had been ­assumed and no longer has any reserve of net foreign assets, depriving the country of its safety margin as Brexit talks reach a crucial juncture. A massive write-down in the UK balance of payments data shows that Britain’s stock of wealth – the net international investment position – has collapsed from a surplus of £469bn to a net deficit of £22bn.

13 Oct
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Friday newspaper round-up: Brexit debate, soft services, RBS, Sky

Ministers have been forced to postpone next week’s debate on the EU withdrawal bill on a chaotic day that saw Michel Barnier warn of a “disturbing deadlock” in the divorce talks in Brussels and a growing whispering campaign against the chancellor in Westminster. Andrea Leadsom, the leader of the House of Commons, told MPs the key piece of Brexit legislation would not be debated next week, as they had planned, as the government struggles to respond to a deluge of hostile amendments.

12 Oct
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Thursday newspaper round-up: National living wage, energy prices, London fintech

More than 300,000 people on low incomes were given a pay boost by the government’s new “national living wage”, dispelling fears that the move to raise minimum salary levels would trigger widespread job losses. The Resolution Foundation said Britain had experienced its biggest fall in low pay since the 1970s following the introduction of the national living wage (NLW), which imposes a floor of £7. 50 an hour for employees aged 25 and over. The thinktank found that 5.

11 Oct
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Wednesday newspaper round-up: Tesco, energy, RBS, Monarch

The sheer scale of supermarket firm Tesco meant the financial picture could change “overnight”, a court has heard. Nicholas Purnell QC, for the defence, gave the example of March 2014 when the finance team forecast a monthly sales shortfall of £108m versus internal targets for the UK food business – only for that figure to be reduced by £32m some 24 hours later. – Guardian.

10 Oct
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Tuesday newspaper round-up: Brexit deal, ECJ, Royal Mail, BT

Theresa May has revealed detailed plans for quitting the EU with “no deal” in a move designed to pile pressure on Brussels to begin trade talks. The Prime Minister decided to “focus minds” by publishing draft legislation showing how the UK will implement independent trade and customs arrangements from “day one” after Brexit in March 2019. - Telegraph.

09 Oct
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Monday newspaper round-up: ONS error, Brexit talks, BT, Just Eat

Pressure on the Bank of England to raise interest rates may be building more rapidly than first thought after a mistake by the Office for National Statistics led to domestic inflation being understated. On Friday, the ONS published an error in one of the critical data points used by the Bank of England to gauge domestic price pressures. In a correction to be released today, the nation’s official statisticians are expected to reveal that companies’ employment costs have been rising faster than previously believed.

08 Oct
sundays
Sunday newspaper round-up: RBS, gambling, Brexit, Centrica, Mirror, EIS

Royal Bank of Scotland has been accused of pursuing “unrealistic” business lending targets that risk incentivising reckless lending. The taxpayer-owned bank, which is under intense political pressure to boost support to the economy, has set strict targets for small and medium-sized enterprise lending to its around 800 lending managers, who are each expected to lend close to £2m a year. - Sunday Telegraph.

06 Oct
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Friday newspaper round-up: OBR, Brexit, Tory coup, energy cap, Tesco

A severe revision to UK growth forecasts will drastically cut Phillip Hammond's wiggle-room in the upcoming Budget. A dramatic over-estimation of the UK's productivity levels over the past seven years by fiscal watchdog, the Office of Budget Responsibility (OBR), means the Chancellor of the Exchequer's room for spending could be reduced by as much as two-thirds. - Telegraph.

05 Oct
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Thursday newspaper round-up: Tesco, Airbnb, Merlin Entertainments, Royal Mail

A top official at the Bank of England has warned the government it has less than 12 weeks to agree a transition deal with the EU to prevent City firms starting to move jobs and business out of the UK. Sam Woods, a deputy governor at the Bank, said City firms would activate their Brexit contingency plans if there was no deal on a transition period by Christmas which would mitigate the impact of a hard Brexit in March 2019. Woods also repeated his warning of the strain being put on the Bank’s ability to police the financial sector as a result of the changes firms needed to make.