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Business 17-06-2018

Equitable Life closing down after £1.8 billion sale

Much-maligned pension company Equitable Life is finally coming to an end, after almost two decades of struggle. The end comes as the company has been purchased for £1.8 billion by Life Company Consolidation Group. Equitable Life’s remaining customers will have their policies transferred to Reliance Life, a division of LCCG’s. The proceeds of the sale […]

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Finance News 17-06-2018

ECB announce quantitative easing coming to an end

The European Central Bank has said their quantitative easing bond purchases will slow down over the remainder of 2018, before coming to a stop in December. The announcement marks a significant step in the Eurozone’s economic roadmap, as the ECB deems the stimulus measures put in place to have done their job. Under the QE […]

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Finance News 17-06-2018

US fires first shot in trade war, says China

The possibility of a trade war between two of the world’s biggest powers is looking more and more likely. US President Donald Trump announced come July the nation would place a 25 percent tariff on imported Chinese goods, worth US$50 billion. The tariffs would apply to imports containing “industrially significant technologies”, the White House said. […]

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Aviation 17-06-2018

Ryanair set to open new base at Southend Airport

Budget airline Ryanair have announced plans to launch a brand new base at London Southend Airport in Essex. The £225m base, which will open in April 2019, will feature three new aircraft and add almost 60 flights per week. The destinations feature eight countries and 13 cities altogether, including Barcelona, Venice, Malaga and Dublin. “We […]

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Business 17-06-2018

Capita and FDM facing heat over training schemes

Two of the UK’s major outsourcing companies are facing legal action and may be forced to answer to parliament over controversial unpaid training schemes. The schemes, employed by Capita and FDM, are described by lawyer Jolyon Maugham as “indentured servitude”. They require job-seeking graduates to undergo up to four months of training before they can […]

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Business 17-06-2018

Tesco hits new highs following Booker acquisition

Supermarket giant Tesco achieved their 10th straight quarter of growth, the strongest growth seen by the company in seven years. The numbers for the three months to 26 May showed 3.5 percent growth for the company’s UK and Ireland sales, and 1.8 percent growth for group sales, which extend to Asia and Eastern Europe. The […]

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Business 17-06-2018

Theranos founder Elizabeth Holmes facing fraud charges

US officials have laid formal charges of fraud against the leadership of Silicon Valley startup Theranos. Company founder Elizabeth Holmes, along with former COO and president Ramesh Balwani, appeared before a court in San Jose Friday. The two were charged with nine counts of wire fraud, and two counts of conspiracy to commit wire fraud. […]

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Business 15-06-2018

Stobart Group dismisses former chief Andrew Tinkler from board

Tensions between Stobart Group and executive director Andrew Tinkley are heating up, as the former chief executive has been officially dismissed from the board of directors. Stobart, owner of London Southend Airport, is also launching legal action against Tinkley, under claims he has been attempting to destabilise the company. “The Company announces that, following the […]

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Banking 15-06-2018

Research shows almost 60 bank branches closing each mont

Almost 2900 branches have closed, or are planned to do so, between 2015 and 2018, says a recent consumer group study. The numbers, which equate to nearly 60 per month, come from a study from the group Which? “Bank branch closures are happening at an alarming rate – with almost 60 shutting every month – […]

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Finance News 15-06-2018

Unilever investors facing possibility of FTSE exit

British investors in consumer goods company Unilever are looking at being forced to sell their shares, as they are “extremely unlikely” to remain trading on the FTSE 100 index. While the company is engaging with FTSE Russell, the index’s governing body, over simplification plans, their planned Netherlands move casts significant doubt. Share prices for the […]

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