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4 Sep
2021

Quitting the customs union could bring 400k jobs to the UK, Brexit campaigners say

whatsapp Mark Sands by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift Verdictmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Love In total this would generate 387,580 new jobs, the campaign group said.Read More: Trump trade boss: Brexit gives foreign firms chance to steal UK businessPortes, a professor of economics and public policy at King’s College and senior fellow at think tank UK in a Changing Europe, said that any trade deals would increase both exports and imports.“Calculating, as Change Britain does, a speculative figure for the number of jobs created by additional exports while ignoring the jobs lost as a result of additional imports is either deeply ignorant or deliberately misleading,” Portes said.“Whatever your view on the economics of Brexit, Change Britain are again doing their best to distort the debate.” Quitting the customs union could generate almost 400,000 jobs in the UK thanks to new free trade deals, a pro-Brexit campaign group has claimed.Change Britain said the UK could hope to secure trade arrangements with up to eight nations if able to negotiate its own deals by exiting the trading bloc, although Theresa May’s government has stressed no decision has yet been made. However, economist Jonathan Portes has rubbished the figures, accusing the campaigners of attempting to “distort” the facts.Read More: “Clean Brexit” could save UK nearly £40bn a yearA 2012 study by the European Commission, which found that free trade with eight nations and trading blocs including Japan, China and India would be worth 16,700 jobs for every €1bn of extra EU exports.Working from the UK’s estimated 15 per cent of extra-EU exports, Change Britain said that similar deals would be worth 2,503 new British jobs for every €1bn.Six of the groups examined in the 2012 European Commission report have already expressed an interest in free trade with the UK, while Change Britain said it was “reasonable to assume” similar deals with Japan and the ASEAN bloc would also be agreed. Tuesday 3 January 2017 1:00 am Read More: All I want for Christmas is… an ultra-hard BrexitHowever, a Change Britain spokesman hit back: “To calculate the number of jobs that could be created from doing more free trade deals we have used the same methodology as used by the EU Commission in its papers on the benefits of free trade. This is the very institution that Portes is still campaigning in favour of.“We believe that, outside the confines of the EU’s customs union, the UK will be in a strong position to do trade deals across the world, creating opportunities for businesses and hundreds of thousands of jobs. It’s a shame that experts like Portes continue to talk Britain down.” whatsapp Quitting the customs union could bring 400k jobs to the UK, Brexit campaigners say Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org read more

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4 Sep
2021

Consumer spending is up but caution appears to be growing

whatsapp Consumer spending for February was up 1.5 per cent on the same time last year, according to the monthly Visa UK Consumer Spending Index. This marks a jump back up from a five-month low of just 0.4 per cent year-on-year growth in January.Trends from previous months held fast, with yet another rise for e-commerce spending, which grew by 3.2 per cent. However, this was the third consecutive month in which online sales growth eased, dropping down from 4.1 per cent in January, pointing to a slowdown. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share There was little change in terms of which sectors shrank and which grew. Food, clothing, household goods and transport all saw spending decline in February, with clothing seeing the fastest reduction of 4.5 per cent.However, spending on health and education saw the biggest rise compared to the previous month. Spending in the sector fell by 2.2 per cent on the year in January, but pushed up to modest growth of 0.9 per cent in February.Aside from the leisure and hospitality industries, the other sector which grew was miscellaneous goods and services, up two per cent. This category includes everything from financial services to beauty and jewellery. Face-to-face spending continued its steady decline, dropping three per cent on the year.Experiences continue to outstrip goods, as spending on recreation and culture increased by 3.3 per cent compared to last February. While expenditure at hotels, restaurants and bars also saw a rise of 1.2 per cent, growth has slowed from the big jump of 5.7 per cent in January.Kevin Jenkins, UK and Ireland managing director at Visa, said the growth in leisure and hospitality was softer than was seen in 2016, saying that “consumers are becoming more cautious with their discretionary spending”.The overall annual rate of spending growth also failed to live up to the average through 2016 of two per cent. In monthly terms, overall spending rose just 0.1 per cent compared to February.Annabel Fiddes, economist at IHS Markit, warned that the slower growth was likely to be a trend this year. She said: “Brexit-related nerves and concerns over the direction of the UK economy are feeding through to relatively low levels of consumer confidence, while expectations that unemployment could start to edge up this year could also weigh on consumer spending.” Alys Key Monday 13 March 2017 4:30 am whatsapp Consumer spending is up but caution appears to be growing read more

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4 Sep
2021

Ctrl Alt Delete: Technology could replace more than half of banking jobs, warns ex-Barclays boss

Ctrl Alt Delete: Technology could replace more than half of banking jobs, warns ex-Barclays boss whatsapp whatsapp Jessica Clark Read more: Aberdeen Standard Investments launches AI fund”We’ve already seen something like 25 per cent of branches close between 2011 and 2015, my expectation is at least another 50 per cent of branches will close over the next five to ten years.”Similarly I think we’ll see something like a 50 per cent or even greater reduction in the people employed in the industry,” he told the BBC. He echoed comments made by Citigroup’s investment bank president Jamie Forese who told the Financial Times that it would shed up to half of its technology and investment staff in the next five years.The Bank of England’s chief economist Andy Haldane predicted that machine automation could lead to the “hollowing out” of the jobs market.  Technology could replace more than 50 per cent of banking jobs, according to former Barclays chief executive Antony Jenkins. The boss of 10x Banking said that computers could replace customer service, middle and back office roles, and that the workforce will have to become more entrepreneurial. “Given the scale of jobs lost is likely to be at least as large as the three industrial revolutions [before] we’ll need even greater numbers of new jobs to be created in the future if we are not to suffer this longer term feature called technological unemployment,” Haldane told Radio 4’s Today programme on Monday.Artificial intelligence could create 7.2m jobs in the next 20-years but it will also replace another 7m, according to PwC research published earlier this year.Read more: Bank of England: AI could create widespread unemployment Share Thursday 23 August 2018 3:25 pm read more

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4 Sep
2021

Police intercept suspicious package addressed to former US vice president Joe Biden

first_img Tags: Barack Obama Donald Trump Hillary Clinton People Share Thursday 25 October 2018 1:58 pm whatsapp Police said today that they have intercepted a suspicious package addressed to former US vice president Joe Biden. Targets have included former presidents Barack Obama and Bill Clinton, 2016 presidential nominee Hillary Clinton, and Obama-era attorney general Eric Holder.A very big part of the Anger we see today in our society is caused by the purposely false and inaccurate reporting of the Mainstream Media that I refer to as Fake News. It has gotten so bad and hateful that it is beyond description. Mainstream Media must clean up its act, FAST!— Donald J. Trump (@realDonaldTrump) October 25, 2018President Donald Trump said on Twitter that “anger we see today” is a result of “purposely false and inaccurate reporting of the Mainstream Media that I refer to as Fake News”.”It has gotten so bad and hateful that it is beyond description. Mainstream Media must clean up its act, FAST!” he tweeted.center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndozenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushUndo The package is similar to pipe bombs sent to several prominent Democrats, a restaurant belonging to actor Robert de Niro and news studio CNN.Bomb squads are dealing with the package in a Delaware postal centre, NBC News reported.The news came after a suspicious package at Robert de Niro’s New York restaurant was called in to police this morning.A building worker called police saying the package had been in the restaurant for a few days.The latest discovery means police have now found nine suspected bombs in California, Florida, New York and elsewhere. whatsapp Police intercept suspicious package addressed to former US vice president Joe Biden August Graham last_img read more

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4 Sep
2021

Corbyn’s tipping tirade lays bare his anti-business agenda

first_img The Labour leader wants to make it illegal for businesses to “pocket” tips and optional service charges.Some restaurants and hospitality firms currently collectivise what we add to our bills or give to waiters and waitresses. They might directly pool tips to redistribute them through a common fund system or add them to general revenues.Read more: Jeremy Corbyn will return Elgin marbles to Greece if made Prime MinisterFor Corbyn, these actions amount to theft.“It is not right that workers have their tips stolen by bosses,” Corbyn said. The next Labour government will ensure that “workers keep 100 per cent of their hard-earned tips”. Corbyn’s tipping tirade lays bare his anti-business agenda Ryan Bourne Let’s leave aside the fact that workers would keep far from 100 per cent, given the high taxes likely under a Corbyn administration.Unfortunately, the Labour leader is not alone. He is making the same mistakes as then business secretary Sajid Javid made when discussing this subject: first, assuming that social expectations about where tips go can harmlessly be enshrined in legislation; second, failing to differentiate between the flow of cash and the overall economic impact.In fact, imposing a one-size-fits-all “tip must go to worker” regulation could adversely affect businesses and workers alike, given the different nature of restaurant models and how managers use tipping to adjust total compensation.Restaurant-specific tipping practices can be an important way to deal with risk, manage staff morale, and ensure that customers get a good service. Though less important generally in Britain than in the US, basic tipping can play an important economic function.Consider the set-up that Corbyn has in mind, in which, say, a single waiter or waitress serves a set of tables exclusively. Share whatsapp That is exactly what lots of restaurants do, distributing tips through formulae in many cases.This amounts to some centralised assessment of what components of the customer experience generate the extra revenue, which is subsequently used to set a system to reward good performance, individually or collectively.Think about it: when you go for dinner, do you really just tip based on the likeability or performance of your waiter? Or do you also take into consideration whether the manager was accommodating with your table preference, the food was good and prepared in a timely manner, the server spilled food over you, and the restaurant had your favourite dessert available?It’s pretty obvious that lots of these things are outside the gift of the waiter or waitress. A strict version of Corbyn’s proposal would simply make it more difficult for firms to find imaginative ways to incentivise staff, and could in some cases work out as less fair than the system he is criticising.No doubt firms would adjust in other ways: underlying pay rates and consumer prices would be tinkered with. But as Labour is also proposing a significant national living wage hike, many restaurants would have to cope with both higher fixed costs and less control of potential income.In fact, this whole proposal speaks volumes about Labour’s economic ideology in general.Nefarious restaurant owners (for which we can read business bosses in general) are regarded as having the market power and desire to screw over their workers at every available opportunity, while any perceived injustice can supposedly be corrected without harm by central diktat.Imposing strait-jacket regulation across a variety of businesses is the order of the day. No thought is given to how this might affect norms and conventions that businesses adopt to solve their own challenges and balance the needs and desires of staff, customers, and managers.It starts with restaurants, and ends with the whole economy.Read more: Labour prepares to block Heathrow while former minister tears into plans whatsapp The purpose of tips here is to be a form of risk-sharing for the restaurant, particularly if it is not easy to observe the behaviour and competence of wait-staff.Tips lower the underlying hourly wage a restaurant might need to offer to attract staff (lowering fixed costs), and total remuneration for a worker becomes linked to customer satisfaction. This averts the need for workplace performance assessments and controversial wage negotiations for each and every staff member.However, even this simple example (to say nothing of larger, more complicated restaurant set-ups) highlights reasons why it might make sense to deal with tips differently.In very small restaurants or established chains, where behaviour is observed or customer expectations simple, it could make more sense to adjust overall pay rates and put any tips into general revenue toward that. If the work is relatively homogenous, staff might resent a tipping “lottery”, where lucky workers benefit from generous tippers and other wait-staff who work just as hard do not.It can therefore make sense for restaurants to centralise this pot for distribution, or see it as general revenue, for the restaurant as a whole. Jeremy Corbyn has had another brainwave. Thursday 1 November 2018 9:42 am Tags: Jeremy Corbyn National Living Wage People Sajid Javidlast_img read more

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4 Sep
2021

Warren Buffett takes aim at Trump in annual letter

first_img Share Sunday 24 February 2019 8:49 pm Buffett’s comments come after a turbulent period for the US investor, whose Berkshire company lost more than $25bn (£19bn) in the final quarter of 2018. Such woes culminated last Friday when shares in Kraft Heinz tumbled almost 25 per cent, wiping more than $4bn of value off of Buffett’s holding in the company.Read more: Kraft Heinz share price plunges as SEC probe and losses spook Wall StreetThe US should “rejoice” when other countries have bright futures, Buffet added in his letter, saying that “Americans will be both more prosperous and safer if all nations thrive”.The remarks from Buffett, who was a supporter of Hilary Clinton in the 2016 US election and is an investor in the Chinese electric car market, come after tumultuous trade talks between China and the US over the last year. Warren Buffett takes aim at Trump in annual letter Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourBest Wine Gifts & Wine Accessories at Every PriceGayotSmoking and Hair Loss: Are They Connected?Vegamour by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthMisterStoryWoman files for divorce after seeing this photoMisterStoryPost FunRare Photos Show Us Who Meghan Markle Really IsPost FunBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakercenter_img Sebastian McCarthy Wall Street veteran Warren Buffett appeared to take aim at President Donald Trump over the weekend, after saying that individuals could not claim credit for success in the US economy.In a letter to Berkshire Hathaway shareholders on Saturday, the billionaire said that “it is beyond arrogance for American businesses or individuals to boast that they have done it alone,” in an apparent swipe at Trump’s recent remarks about his own role in delivering prosperity. whatsapp whatsapp Tags: Donald Trump People Warren Buffettlast_img read more

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4 Sep
2021

Boost minimum wage for young workers, Labour says

first_imgSaturday 11 May 2019 2:20 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStory whatsapp Boost minimum wage for young workers, Labour says Share August Graham Read more: Hammond ‘considering significant increase’ to minimum wage“But if the person serving you on the other side of the counter is young, they could be on half the wage of their colleagues.“It’s time to end this discrimination. Young people’s work should be properly valued, not exploited by employers to cut their wage bill. If they’re doing the job, pay them the wage – the real living wage.” Tags: Jeremy Corbyn People whatsapp The Labour Party has revealed plans to abolish the lower minimum wage for those under 18 as it aims to hike the salaries of all of the lowest paid to at least £10 an hour.The new hike would more than double what employers have to pay to their under-18 employees, who currently get a minimum of £4.35 an hour. Labour has already suggested the rise for those over 25 who are now paid at least £8.21. Read more: Labour considers plan to ban listed firms over climate change targetsBut a potential Labour government would increase both minimum figures to £10 in 2020, Jeremy Corbyn is set to say today, the BBC reported.It will give young full-time workers a £2,500 boost to their paychecks each year, Corbyn is expected to say.“Equal pay for equal work is hardly a controversial idea, so why are we discriminating against young people?,” he will tell his party colleagues.“You don’t get a discount at the shops for being under 18. Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamour’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapSmoking and Hair Loss: Are They Connected?VegamourHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapThis Is How Often You Should Cut Your HairVegamourlast_img read more

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4 Sep
2021

Thomas Cook shares plunge amid £750m Fosun takeover talks

first_imgRead more: Thomas Cook engages in Fosun talks to save company It blamed an “uncertain” consumer spending environment in the UK, increasing competition. Main image credit: Getty Much of this debt would be written off and converted into shares as part of the deal, while the new cash would be directed towards the airline division and the newly-sold tour operations arm. Read more: Fosun lines up bid for Thomas Cook tour business Share Fosun is already the travel company’s biggest shareholder, with an 18 per cent stake. The news comes a month after Thomas Cook originally said it was in talks, after the Chinese firm made an initial approach. Thomas Cook said bookings were down nine per cent year-on-year for the summer thus far and that it was facing “intense competition” as it headed into the peak season. Tour bookings have fallen nine per cent year on year for its busy summer period, while airline bookings are down three per cent. Thomas Cook fell into its current predicament in May but a trading update accompanying today’s talks showed little improvement. “After evaluating a broad range of options to reduce our debt and to put our finances onto a more sustainable footing … the board has decided to move forward with a plan to recapitalise the business,” Thomas Cook chief executive Peter Fankhauser said in a statement. This reflects an “uncertain customer environment,” it said. The travel company has struggled in recent years after sales declined and uncertainty around Brexit hampered customers’ desire to book holidays. Meanwhile Thomas Cook warned on earnings for the next six months, saying “it is clear that the trends experienced in the first half of the year have continued into the second half”. whatsapp In a statement, Thomas Cook said existing shareholders would be “significantly diluted” as part of the deal.  “Indeed management note that the ‘progressively more challenging’ market environment has affected its ability to execute a disposal of the airline ‘in a way which returns satisfactory value to the group’.” Thomas Cook’s shares sunk to their lowest price ever this morning as it confirmed it is in advanced talks with Fosun over a proposed £750m deal which would give the Chinese firm majority ownership over its tour operator business. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarPsoriatic Arthritis | Search AdsWhat Is Psoriatic Arthritis? See Signs (Some Symptoms May Surprise)Psoriatic Arthritis | Search AdsMisterStoryWoman files for divorce after seeing this photoMisterStoryLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Health “Fosun is a shareholder in Thomas Cook, because it is a British company operating in the global travel industry, in which we have extensive experience. We are committed investors, with a proven track record of turning around iconic brands including ClubMed and Wolverhampton Wanderers FC.” The cash injection would give the travel company enough funds to trade through the winter period and make investments to secure its future. Speaking to journalists this morning, Fankhauser was unable to confirm whether such a deal would mean Thomas Cook de-listing from the British stock market. “However, shareholders may be given the opportunity to participate in the recapitalisation by way of investment alongside Fosun and converting financial creditors on terms to be agreed,” it said. Alex Daniel Fosun Tourism Group said: “There are advanced discussions among the company, Thomas Cook and Thomas Cook’s core lending banks on the key commercial principles on the proposal.” ‘Uncertain customer environment’ Shareholders ‘significantly diluted’ Thomas Cook has already been forced to axe 150 jobs from its Peterborough head office as it tussles with difficult trading conditions. The deal would also give Fosun minority interest in Thomas Cook’s airline business. Thomas Cook shares hit record low amid £750m takeover talks with Fosun Questions remain for Thomas Cook investors More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Thomas Cook crashed into administration last year Thomas Cook’s shares have lost more than 85 per cent of their value in the last year after a series of disappointing financial results. The ailing tour operator reported a £1.5bn half-year loss in May, and is struggling with a £1.4bn debt pile. “While this is not the outcome any of us wanted for our shareholders, this proposal is a pragmatic and responsible solution.” “The group is helping to mitigate these challenges with a rigorous focus on cost, while remaining fully focused on delivering a stronger holiday offering to customers through high quality, higher-margin hotels,” it said. whatsapp “Margins remain weak due to continued intense competition with high levels of promotional activity across all businesses,” the company said. He was also unable to guarantee the deal would not lead to redundancies across the company. “That is up to Fosun to decide,” he said. But, he added, this is “really good news for our employees” because the deal would give the business more financial stability. Hong Kong listed Fosun already owns Clubmed and Premier League football club Wolverhampton Wanderers (Getty) Shares in the travel company plunged more than 40 per cent in early morning trading to just 6.25p after it emerged shareholders would lose much of their value in the company if the deal went ahead. Friday 12 July 2019 8:30 am “Whilst this has long been seen as the likely route out of the mire for Thomas Cook, there are several questions remaining, for instance how would this deal impact the proposed airline sale?” asked Neil Wilson, chief analyst at Markets.com. When asked whether he would remain as chief executive after the deal, he was unable to confirm either way. He said: “This is really not about me… Time will tell us.” Thomas Cook shares have plunged more than 85 per cent in the last 12 months (Getty) “Management say they are pausing the sale but it likely be dead if Fosun take over. Given the current environment, it may have been harder to offload the airline than thought, at least at a price that worked for Thomas Cook. Tags: Thomas Cook Grouplast_img read more

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4 Sep
2021

What was behind Friday’s National Grid outage? Network theory, not conspiracy

first_img Potential explanations swirl around both social and mainstream media. The system cannot cope with too much wind-generated electricity. The Russians hacked into the computers. The results were surprising. Most of the time, the shocks – made deliberately small by assumption – were contained and the network continued to function well. But occasionally, a small shock triggered a system-wide collapse. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Watts set up a highly abstract model of nodes, all of equal importance, connected on a network. Initially, all of these were, putting it into the Grid context, working well. He investigated the consequences of what happens when a very small number of them malfunctioned. National Grid owns and operates the UK’s power networks, as well as gas businesses in the US. Share Rebecca Long-Bailey, Labour’s energy secretary, has honed in on this. The fact that a small outage had such huge consequences is, to her, clear evidence of under-investment, and makes the case for public ownership. But scientific advances over the past 20 years provide a quite different perspective.   Watts coined the phrase “robust yet fragile” to describe this phenomenon. Most of the time, a network is robust when it is given a small shock. But a shock of the same size can, from time to time, percolate through the system. whatsapp National Grid is getting a kicking in the aftermath of last Friday’s electricity blackout. A key discovery in the maths of how things spread across networks is that in any networked system, any shock, no matter how small, has the potential to create a cascade across the system as a whole. Duncan Watts was at Columbia University when he published a groundbreaking paper on this in 2002 with the austere title “A simple model of global cascades on random networks”. He was subsequently snapped up by first Yahoo, then Microsoft.  More From Our Partners Connecticut man dies after crashing Harley into live bearnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com What was behind Friday’s National Grid outage? Network theory, not conspiracy whatsapp The National Grid is, by definition, a network. Power stations receive supplies from various sources, and then the energy is transmitted from them to businesses and households via power lines. The physical connectivity of the network had increased substantially due to advances in communication and control technology.   There may still prove to be a simple explanation of the sort loved by decision-makers the world over. But the science of networks may shed more light than theories based on conspiracy and incompetence. I collaborated with Colbaugh on this seeming paradox. We showed that it is in fact an inherent property of networked systems. Increasing the number of connections causes an improvement in the performance of the system, yet at the same time, it makes it more vulnerable to catastrophic failures on a system-wide scale.  The total number of outages had fallen – when one plant failed, it was easier to activate a back-up. But the frequency of very large outages, while still rare, had increased. Wednesday 14 August 2019 4:02 am In the mid-2000s, the academic Rich Colbaugh was commissioned by the Department of Defense to look into the US power grid.  Opinion Main image credit: Getty Paul OrmerodPaul Ormerod is an economist at Volterra Partners LLP, a Visiting Professor in the Department of Computer Science at UCL, and author of Against the Grain: Insights of an Economic Contrarian, published by the IEA in conjunction with City A.M. A puzzling aspect is that the initial shock to the National Grid was a very small one. The gas-fired station at Little Barford in Bedfordshire went down. Within minutes, a massive power outage had taken place.last_img read more

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4 Sep
2021

US leaders tussle as vote for impeachment draws near

first_imgRead more: US to suspend planned tariffs after reaching deal with China US leaders tussle as vote for impeachment draws near Democrats and Republicans tussled over tactics today as the two sides negotiated how the proceedings would work if there is the green light for the third-ever Senate impeachment trial. Show Comments ▼ whatsapp whatsapp Share The standoff focuses on whether or not Trump improperly sought help from Ukraine in his bid to be re-elected to the White House next year. Sebastian McCarthy Senate Democratic leader Chuck Schumer has already began preparing for next year’s near-inevitable trial by setting out demands for witnesses, but majority leader Mitch McConnell flatly rejected such calls this afternoon. Trump denies the twoaccusations that he soliciteda foreign country to help him politically and that he obstructedCongress. Tuesday 17 December 2019 4:39 pm Read more: Stock markets rise on US-China trade talks The outcome of thevote in the House has looked increasingly certain in recent days,with a group of Democratic House members in Republican-leaningdistricts coming out in favour of impeachment despite Trump’s bestefforts to win their support. The stage is set for a historic vote on Capital Hill tomorrow, where US politicians will decide whether to impeach Donald Trump after months of intense debate. The House of Representatives is expected to approve articles of impeachment against the President, paving the way for a trial in the Republican-controlled Senate on whether Trump should be removed from office. Hours of heated debate are expected before tomorrow’s vote, which comes in the middle of an already-ferocious battle between Democratic nominees looking to challenge Trump in next year’s election. (Getty Images) last_img read more

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