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Britain Business crime SFO UK 

UK fraud office expects decision on GSK, Rolls-Royce cases next year

August 10, 2017 By Kirstin Ridley LONDON (Reuters) – The UK Serious Fraud Office (SFO) said on Thursday it expects to decide next year whether it will file criminal charges in bribery investigations related to drugs giant GlaxoSmithKline and aero engine company Rolls-Royce . The SFO launched an investigation into GSK and its subsidiaries in 2014. Britain’s biggest drugmaker has already been fined a record 3 billion yuan ($452 million) by Chinese authorities for paying bribes to doctors to use its drugs. The SFO’s continued investigation into Rolls-Royce is focusing…

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Britain Business offer U.S. UK 

U.S. payments firm Vantiv clinches $10 billion deal to buy Worldpay

August 9, 2017 By Pamela Barbaglia LONDON (Reuters) – U.S. credit card processing company Vantiv secured a deal to buy British-based rival Worldpay for 8 billion pounds ($10.4 billion) on Wednesday in a bid to create a $29 billion global payments powerhouse. Vantiv’s move, one of the biggest takeovers of a British firm since last year’s Brexit vote, is part of a wave of payments company mergers as consumers move away from cash transactions to digital payments. Companies such as Vantiv with a strong presence in the United States are…

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Britain Business offer U.S. UK 

U.S. card firm Vantiv clinches $10 billion deal to buy Worldpay

August 9, 2017 By Pamela Barbaglia LONDON (Reuters) – U.S. credit card processing company Vantiv moved closer to creating a $29 billion global payments powerhouse on Wednesday with a formal offer to buy Britain’s Worldpay for 8 billion pounds ($10 billion). Vantiv’s move is part of a wave of payments company mergers around the world as consumers are moving away from cash transactions to smartphone or mobile payments and the industry, once a backwater of banking, faces growing competition from newcomers trying to disrupt the way merchants are paid. Recent…

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BBC Britain Economy European Union Top News UK 

UK needs Brexit fall-back position, says ex-BoE governor King

August 6, 2017 LONDON (Reuters) – Britain needs to make clear to the European Union that it is prepared to go it alone if it fails to reach a satisfactory deal in Brexit talks, former Bank of England Governor Mervyn King said on Saturday. King – who said in December that Britain should leave the EU’s single market and possibly its customs union – said his country needed to be able to show that it had a clear plan of how it would manage without an EU trade deal. “If…

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cyber government security Tech Top News UK 

UK government sets out tougher guidelines to protect smart cars from hackers

August 6, 2017 LONDON (Reuters) – The British government issued new guidelines on Sunday requiring manufacturers of internet-connected vehicles to put in place tougher cyber protections to ensure they are better shielded against hackers. The government said it was concerned that smart vehicles, which allow drivers to do things such as access maps and travel information, could be targeted by hackers to access personal data, steal cars that use keyless entry systems, or take control of technology for malicious reasons. The new guidelines will also ensure that engineers seek to…

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Business Economy election month Top News UK 

UK companies’ optimism on economy slips to six-month low – Lloyds

July 30, 2017 LONDON (Reuters) – British businesses are their least optimistic about the economy in six months and their overall confidence levels remain slightly below average, a survey showed on Monday, adding to a lackluster outlook for the economy. Lloyds Bank said its survey pointed to moderate growth although there had been some improvement from a month earlier, just after Prime Minister Theresa May unexpectedly failed to win a parliamentary majority in a national election. “Confidence remains just below the long-term average and is consistent with a moderately positive…

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Britain Business Economy European Union Top News UK 

UK wants to avoid cliff edge Brexit but will leave single market, Hammond says

July 28, 2017 LONDON (Reuters) – Britain wants to a avoid a cliff edge Brexit that would sow chaos for business but leaving the European Union means leaving the single market and the customs union, finance minister Philip Hammond told the BBC. Hammond refused to confirm or deny a Financial Times report that he had told business leaders that he wanted to negotiate a simple “off-the-shelf” transition deal with Brussels to maintain current trading relations with Europe for at least two years after Brexit. Hammond said it was in the…

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Britain Economy ESMA London Top News UK 

London asset managers face new Brexit threat

July 27, 2017 By Huw Jones, Anjuli Davies and Simon Jessop LONDON (Reuters) – British-based investment firms’ long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit, new EU guidance suggests. Asset managers in London oversee funds worth 1.2 trillion euros ($1.4 trillion) in the EU – more than their peers in France, Germany and Italy combined, according to figures from UK industry body the Investment Association. Previously, many mangers had said they expected the impact of Brexit on their operations would be…

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Britain Entertainment industry Tom Cruise Top News UK 

Your mission, should you choose to accept: save the UK economy

July 26, 2017 LONDON (Reuters) – Were it not for Tom Cruise and Mary Poppins, Britain’s economy might not have gained any speed at all during a sluggish second quarter. The film industry was one of the few areas of Britain’s economy that really rolled in the last quarter, according to official figures out on Wednesday. The industry accounted for almost a quarter of all economic growth between April and June – or 0.07 percentage points of the 0.3 percent growth over the period, to be exact. Without it, Britain’s…

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Britain Economy England Top News UK Wales 

UK house prices stabilize, but buyers still wary: Rightmove

July 16, 2017 LONDON (Reuters) – Asking prices for houses and apartments in England and Wales stabilized after a drop in June, but home-buyers remain cautious as wage growth falls behind inflation, a survey by property website Rightmove showed on Monday. The figures were based on property advertised between June 11 and July 8, covering the weeks after Prime Minister Theresa May unexpectedly lost her majority in parliament, creating uncertainty for investors who were already on edge about Britain’s exit from the European Union. Rightmove said average asking prices for…

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