Category: <span>Investment</span>

HSBC profits rise 74% as economy rebounds from Covid crisis
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HSBC profits rise 74% as economy rebounds from Covid crisis

HSBC’s profits rose 74% in the third quarter as improving economic conditions allowed the bank to release hundreds of millions of pounds originally set aside for a potential jump in loan defaults during the pandemic. The London-headquartered bank said pretax profits rose to $5.4bn (£3.9bn) in the three months to 30 September, up from $3.1bn a...

Asos chief Nick Beighton resigns as it warns over supply chain pressures
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Asos chief Nick Beighton resigns as it warns over supply chain pressures

Nick Beighton, the chief executive of Asos, is to step down with immediate effect as the online fashion retailer warned supply chain problems and rising costs would affect its profits. Asos said Beighton and the board had agreed it was “the right time” for him to go. It said after the departure of Beighton, who has...

UK in Brexit climbdown as safety rule deadline extended
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UK in Brexit climbdown as safety rule deadline extended

The government has pushed back a deadline for the launch of post-Brexit product safety standards by allowing companies to follow EU rules until 2023, in the latest climbdown amid concerns over the economy. Businesses will have an extra year to start using the new UKCA mark, which is planned to replace the EU’s CE mark...

Repairing and reusing household goods could create thousands of green jobs across the UK
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Repairing and reusing household goods could create thousands of green jobs across the UK

Reusing and repairing household goods, from washing machines to phones, and recycling throwaway consumer items such as plastic bottles, could create hundreds of thousands of green jobs across the UK, a thinktank has found. The UK creates thousands of tonnes of unnecessary waste each year, some of which is still exported, because of a failure to value...

Thousands of leaseholders in unsafe homes will be unable to sue developers
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Thousands of leaseholders in unsafe homes will be unable to sue developers

Thousands of leaseholders living in dangerous blocks will not be protected by the latest government attempt to tackle the spiralling cost of the post-Grenfell fire safety crisis, it has emerged, as ministers publish legislation allowing developers to pass on costs to residents. The housing secretary, Robert Jenrick, on Monday introduced a bill extending leaseholders’ rights to...

UK online shopping boom fuels cardboard shortage as households hoard boxes
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UK online shopping boom fuels cardboard shortage as households hoard boxes

The nation’s online shopping habit is causing a cardboard shortage as empty delivery boxes are hoarded in homes or stuck in council recycling bins. UK households have amassed 135m cardboard boxes during the pandemic, keeping valuable raw material out of the recycling chain and pushing up packaging prices, according to the packaging specialist DS Smith....

Cut of £40m in help for tenants will ‘drive up homelessness’
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Cut of £40m in help for tenants will ‘drive up homelessness’

The government is cutting the funding it gives to councils in England and Wales to help struggling tenants by more than a fifth, with critics warning the move will drive up homelessness following the recent end of the Covid evictions ban and the end of the furlough scheme in September. Discretionary housing payments (DHPs) provide...

‘Time to buy’ bitcoin adverts banned in UK for being irresponsible
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‘Time to buy’ bitcoin adverts banned in UK for being irresponsible

An ad campaign telling the public that “it’s time to buy” bitcoin has been banned after the advertising watchdog ruled that it was irresponsible and misleading. The high-profile campaign, which has featured heavily across the London underground and the capital’s bus network since December, ran with the strapline “If you’re seeing bitcoin on the underground,...

Great British Railways plan aims to simplify privatised system
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Great British Railways plan aims to simplify privatised system

The rail industry will be simplified but still substantially privatised as a rebranded Great British Railways, the government has pledged after publishing its long-awaited overhaul on Thursday. A white paper places control of rail infrastructure and services under the new arm’s-length public body, with franchises replaced by contracts that will incentivise private firms on punctuality and efficiency...