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World - Union boost for leftwinger hoping to lead UK`s Labour party

Britain`s opposition Labour party looked closer than ever to surging to the left on Wednesday after the anti-austerity, pro-nationalisation leadership candidate won the backing of two major trade unions. Long-serving lawmaker Jeremy Corbyn had initially been dismissed as an outsider with no chance of replacing Ed Miliband, who quit as Labour leader following the party`s dismal showing in May`s general election. Last week a YouGov poll put him well ahead of his rivals, while bookmakers William Hill, which initially had him as the 200/1 outsider, now has him as the favourite on 11/8, meaning you would have to gamble £8 to win £11.

Wednesday, July 29, 2015  21:00


World - Barclays profits jump awaiting new CEO

Barclays increased net profits by 43 percent in the first half as cost-cutting and higher revenue offset provisions for settling a series of scandals, the troubled British bank announced Wednesday. Barclays, which earlier this month sacked chief executive Antony Jenkins, said profit after tax increased to £1.611 billion ($2.512 billion, 2.275 billion euros) in the six months to the end of June from £1.126 billion in the first half of 2014. `The results reported today represent continued good progress for the business,` said John McFarlane, who, in the role of executive chairman, has replaced Jenkins on an interim basis awaiting the appointment of a new chief executive officer.

Wednesday, July 29, 2015  09:56


World - Royal Dutch Shell to cut 6,500 jobs on oil price slump

Royal Dutch Shell on Thursday said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover. `Today`s oil price downturn could last for several years, and Shell`s planning assumptions reflect today`s market realities,` the company said in a statement, adding that it anticipates `some 6,500 staff and direct contractor reductions in 2015`. Shell earlier this year unveiled a mega-takeover of British rival BG Group worth £47 billion ($73 billion, 67 billion euros), as the two firms consolidate their positions in a sector slammed by the oil price slump.

Thursday, July 30, 2015  08:02


World - Britain gives extra £7m for French border migrant crisis

Britain`s interior minister announced Tuesday an extra £7 million ($11 million, 10 million euros) towards improving security at the French end of the Channel tunnel after a mass illegal immigration attempt. Home Secretary Theresa May made the announcement following talks in London with her French counterpart Bernard Cazeneuve, centred on the ongoing migrant crisis in the French port of Calais. About 2,000 migrants tried to enter Eurotunnel premises in Calais overnight Monday in a desperate bid to reach Britain through the Channel tunnel.

Tuesday, July 28, 2015  20:13


World - Thieving British vicar turns himself in

A vicar who went on the run after pocketing more than £24,000 in fees for weddings and funerals handed himself in to police on Monday following appeals from senior clergy. Simon Reynolds disappeared during a lunch break in the court proceedings against him in Sheffield in last Thursday, shortly before being found guilty of four counts of theft. Senior clergy including the Bishop of Wakefield, Tony Robinson, had appealed to Reynolds to turn himself in.

Monday, July 27, 2015  16:21


World - Pearson says in talks to sell The Economist share

British publishing company Pearson said Saturday it was in talks to sell its 50-percent stake in The Economist Group, owner of the prestigious magazine of the same name. `Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50 percent share in the Group,` a Pearson spokesman said. The announcement comes just two days after Pearson agreed to sell the Financial Times to Japanese media group Nikkei for £844 million ($1.3 billion, 1.2 billion euros), saying that it wanted to focus solely on the education publishing sector which accounts for most of its business.

Saturday, July 25, 2015  20:28

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