Tag Archives: markets-theguardian

Headhunters charged with diversifying UK boardrooms still mainly white 

There are only six black executives and board members among leading five firms, finds the Guardian ‘We’ll hire 100 black interns a year’In the ruthless world of executive headhunting, Cynthia Davis got used to being called “the black girl”. In the early 2000s, she vividly recalls being one of only five women – and the only black employee – in a Leeds-based f […]

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Recession in real time: how big data can track the Covid slump 

Official economic data for June will be out this week. But unconventional indicators can help gauge conditions right nowThis week it will be confirmed that Britain’s economy is in the deepest recession for at least a century. Yet only a few days ago, the Bank of England heralded a return to growth, forecasting a more rapid recovery than previously feared.Off […]

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Evening Standard to cut one-third of staff as Covid-19 hits advertising 

Print edition of London freesheet will remain but focus will shift to digital and mobile platformsCoronavirus – latest updatesSee all our coronavirus coverageThe Evening Standard is to sack a third of its employees, as the London freesheet seeks a dramatic reduction in costs to survive the coronavirus pandemic.The newspaper has been hit particularly hard by […]

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BP halves dividend; 1,100 PizzaExpress jobs at risk- business live 

Rolling coverage of the latest economic and financial newsLatest: PizzaExpress could close 15% of UK restaurants in rescue deal1,100 jobs at risk Earlier:Oil giant cuts dividend to 5.25 cents per shareBP posts huge loss after asset writedownsDiageo hit by sales slump, but easyJet expands schedule 1.24pm BST Back in the City, oil giant BP is still among the t […]

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WFH? The coffee (and prosecco) van coming to a British street near you 

Deprived of office clients, food businesses are using vans, milk floats and even bikes to take their wares on the road“Stop me and buy one” is a slogan traditionally used by ice-cream sellers. Now you may be as likely to find coffee, bread, cakes and sandwiches being sold up and down your street.Growing numbers of cafes and caterers forced to stop trading du […]

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Brexit fuels brain drain as skilled Britons head to the EU 

A British-German study uncovers huge changes in migration patterns of UK citizens since 2016 referendum Brexit has sparked an exodus of economically productive people from the UK to European Union nations on a scale that would normally be expected only as a result of a major economic or political crisis, according to a detailed new study.Using a combination […]

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UK economic revival under way but jobs concerns grow 

Guardian analysis shows hit to workers gathering pace despite boost from lockdown easingUK Covid-19 cases fall but fears grow over jobs, spending and debtQ, U, V or W: what shape will Britain’s economic recovery be?Britain’s economy has begun to repair the damage from the coronavirus lockdown as restrictions are gradually lifted, despite mounting concern ove […]

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UK mortgage approvals rise four-fold; stocks struggle ahead of Fed decision – business live 

Bank of England lending data show housing market gathers paceDollar sell-off slows as Fed is expected to maintain ultra-supportive monetary policy to help economy 12.05pm BST Here’s more analysis of the Bank of England lending data, from Paul Dales, chief UK economist at Capital Economics.The signs that firms did not rush quite as fast to take on more debt i […]

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Marks & Spencer to cut 950 jobs in latest Covid-19 blow to high street 

Redundancies at stores and head office follow job losses at John Lewis and Boots this monthCoronavirus – latest updatesSee all our coronavirus coverageMarks & Spencer is to cut 950 jobs at its head office and stores, in the latest blow to UK high street retailers hit hard by the coronavirus pandemic.The latest cuts – to store management posts as well as […]

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UK restaurants: tensions boil over as diners and chefs fall out over VAT cuts and costly no-shows 

Customers expect too much, say struggling owners as anticipated reopening bonanza fails to materialiseCoronavirus – latest updatesSee all our coronavirus coverageRestaurants struggling to make money are increasingly finding themselves at loggerheads with customers as tensions over reopening lead to rows and disagreements. Related: The restaurant industry is […]

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Can Tesla justify a $300bn valuation? 

Elon Musk’s company is the world’s most valuable carmaker, but it has never made a profitWhen Elon Musk tweeted in May that the share price of Tesla was “too high” at $780 (£622), it caused a brief moment of panicked selling by investors in the electric carmaker. Yet two months later Tesla had overtaken Toyota as the world’s most valuable carmaker in a remar […]

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Democratising finance for all? An investment app for amateurs and a student trader’s death 

20-year-old killed himself after mistakenly believing he had lost $730,000 through the Robinhood appOn 12 June, 20-year-old student Alex Kearns killed himself, believing that he had just lost $730,000 (£580,000) through a smartphone app. To compound the tragedy, his despair was entirely needless. Far from having doomed himself to a lifetime of debt, he had, […]

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Rishi Sunak’s Covid-19 package recycled up to £10bn spending – IFS 

Chancellor’s statement ‘corrosive of public trust’ for passing old funds off as newRishi Sunak has been accused of repackaging up to £10bn of previously announced government spending to form the backbone of his summer statement plan to save jobs during Covid-19.Serving the chancellor with a blunt rebuke, the Institute for Fiscal Studies said it was “corrosiv […]

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Bank of England’s Tenreyro predicts ‘incomplete ‘V-shaped’ recovery – business live 

Rolling coverage of the latest economic and financial newsLatest: BoE policymaker predicts ‘incomplete V’Unemployment will hurt recovery, points out Silvana TenreyroIntroduction: UK consumer prices rose in JuneComputer games got pricier, but crisps prices fell Coronavirus – latest updatesSee all our coronavirus coverage 11.25am BST Over in Brussels, Apple ha […]

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Sunak will say things are looking up, but OBR has less faith in a rebound 

With bad news on jobs, and ongoing risk from Covid-19, hopes for a V-shaped recovery look misplacedHow quickly can Britain’s economy rebound after the pandemic? Last week, the chancellor, Rishi Sunak set out an upbeat recovery vision, with a plan to get restaurants buzzing again. It was perhaps the swiftest gear change in years: just days earlier, restaurant […]

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