eBay to ditch PayPal as preferred processor from 2020
eBay has said PayPal will no longer be its preferred payments processor, according to BBC News. In a blog post, eBay announced that users will be able to manage payments…
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Insurers face £30m bill for Carillion claims
Insurance companies have estimated that £30m will be paid out in claims by companies owed money by the liquidated contractor giant Carillion, according to BBC News. Claims for between £5,000…
JP Morgan issues warning over Brexit job losses
The chief executive of JP Morgan has said the bank may cut its UK workforce by more than 25% if different financial rules are adopted following Brexit, according to BBC…
GKN rejects hostile £7.4bn takeover bid from Melrose
The engineering giant GKN has fought off a £7.4bn hostile takeover from Melrose Industries, according to BBC News. Melrose, which specialises in turning around struggling businesses, claimed it could “deliver…
BoE says UK jobless rate will fall in 2018
The level of unemployment in the UK is set to fall faster than the Bank of England (BoE) and other economists had predicted, according to a statement from BoE policymaker…
Carillion enters liquidation
The construction company Carillion has announced that it will go into liquidation. Government-backed attempts to negotiate a deal to save the company failed, according to BBC News. The contractor is…
ECB orders Deutsche Bank to increase common equity holdings
The European Central Bank (ECB) has increased the capital holding requirements for Deutsche Bank in 2018 to a little above the average for European lenders, according to City AM. The…
IFS warning: higher minimum wage will lead to more robots
The Institute of Fiscal Studies (IFS) has warned that increasing the living wage could prompt employers to automate more jobs. According to BBC News, plans to increase the minimum hourly…
New management team for Norwegian
Budget airline Norwegian has revealed a new management team, with the appointment of a new chief financial officer to help fuel “ambitious growth plans”, according to City A.M. The new…
Brexit agreement reduces economic risk, says BoE
The Bank of England has said that the risk of a disorderly Brexit has been reduced following a recent breakthrough in negotiations with the European Union, according to Reuters. Policymakers…
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