Theresa May to ask the EU for an extra two years of Brexit transition

Theresa May to ask the EU for an extension to the Brexit transition to 2023. This would extend the Brexit process some seven years after Britain voted to leave the EU. The proposal will be highly controversial with Conservative MPs. Tory Brexiteers have threatened to oust May if a hard Brexit is not delivered. LONDON — Theresa May is set to ask the European Union for another two years of Brexit transition as her government struggles to come up with a proposal for arrangements that would avoid a hard border with Ireland. Britain is already set for a 20-month Brexit transition period once it leaves the EU in 2019. However,… Read More

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China is cranking up its war of words over Taiwan: It just slapped an iconic Japanese retailer with a $30,000 fine for describing it as a country

China fined the Japanese retailer Muji $31,280 for describing Taiwan as a country. Taiwan was listed as the “country of origin” on the packaging for 119 clothes hangers last year. This is the most serious action from China in the country’s escalating war of words over how Taiwan is officially recognized. Beijing considers it to be a province of China, not an independent country. So far this year, China has ordered Marriott to shut its website for a week for listing Taiwan as a country, and a number of airlines have kowtowed to China’s description of Taiwan. China fined iconic Japanese retailer Muji over $30,000 for describing Taiwan as a… Read More

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Ten Things You Need to Know Today: Thursday 24 May 2018

NHS needs £2,000 more from every household Two non-partisan think tanks – the Institute for Fiscal Studies and the Health Foundation – are warning today that there is no alternative to higher taxation to create even modest improvements in the NHS to meet increased demand. In a joint report, they say that every British household will need to pay an extra £2,000 in tax. Yulia Skripal releases video statement on attack Yulia Skripal, the daughter of former Russian spy Sergei Skripal, yesterday released a video statement, in Russian to the news agency Reuters. In her first public appearance since she was poisoned, Skripal says: “Our recovery has been slow and… Read More

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A star engineer who’s worked at UBS, Goldman Sachs and Blockchain told us how he built his incredible career by age 28

Lewis Tuff, 28, is one of Business Insider’s UK Fintech 35 under 35. He has worked at UBS, Goldman Sachs, Revolut, and now Blockchain. Tuff told Business Insider how he got where he is today and what advice he’d share with those looking to copy his career path. LONDON — Lewis Tuff is a high-achiever. Tuff, who features on Business Insider’s UK Fintech 35 under 35 list, is just 28 but has already worked at UBS, Goldman Sachs, fast-growing fintech startup Revolut, and now Blockchain, a much-vaunted cryptocurrency and blockchain company. “I think partly it’s putting yourself out there,” Tuff, an engineer, told Business Insider of his whirlwind career so… Read More

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These are the 28 biggest banks in the world — each one with more than $1 trillion of assets

LONDON – Every year S&P Global Intelligence releases its annual ranking of the world’s biggest banks by assets, and in 2017, for another year, Chinese banks dominate the top of the list. In total, S&P Global included 28 banks across the world with over $1 trillion in assets across Asia, North America, and Europe. “Asian banks continue to dominate the S&P Global Market Intelligence global bank rankings with Chinese institutions claiming the top four spots,” JP O’Sullivan, managing director of financial institutions at S&P Global. Banks with big retail operations dominate the list, meaning investment banking giants including Goldman Sachs and Morgan Stanley, and UBS miss out on the $1… Read More

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Wargaming Seattle to shut down, impacting 150 jobs in region’s latest game studio closure

Wargaming Seattle, the Redmond-based game studio that started as Gas Powered Games and more recently worked on the hit World of Tanks franchise, is shutting down in another studio closure by its parent company, international game developer Wargaming.net. Wargaming CEO Victor Kislyi. Official GDC Photo, via Flickr. The decision will reportedly leave around 150 employees without jobs, though efforts to recruit and re-employ them have already begun via the hashtag #WGJobs. Word of the impending closure leaked out today from employees and others in the industry, but Wargaming hasn’t yet confirmed or publicly acknowledged the plan to shutter the studio. The move comes less than two years after the demise… Read More

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‘Emotional’ Ovechkin, Capitals finally break through to Stanley Cup Final

TAMPA, Fla. — Alex Ovechkin is talking, but he’s basically speechless, sitting here with an Eastern Conference champions t-shirt on his back and an Eastern Conference champions hat on his head, a gap-toothed smile plastered on his bearded face. “Just ask Holts,” Ovechkin says, calling on the guy who just recorded a shutout in the biggest game of either of their lives to try to capture this moment, because he really can’t. “This kind of emotion,” Ovechkin says, still trying, “it’s hard to explain what I’m feeling.” if ( “1” == true && ‘undefined’ !== typeof window.getIndexAds ) { var so = {preroll:{1:{1:{siteID:191888},2:{siteID:191889}}}}; adServerUrl = window.getIndexAds( ‘http://pubads.g.doubleclick.net/gampad/ads?sz=640×360&iu=%2F7326%2Fen.sportsnet.web%2FVideo&ciu_szs=300×250&impl=s&gdfp_req=1&env=vp&output=vast&unviewed_position_start=1&ad_rule=1&vid=5788992413001&cmsid=384’, so, permalink); }… Read More

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‘Emotional’ Ovechkin, Capitals finally break through to Stanley Cup Final

TAMPA, Fla. — Alex Ovechkin is talking, but he’s basically speechless, sitting here with an Eastern Conference champions t-shirt on his back and an Eastern Conference champions hat on his head, a gap-toothed smile plastered on his bearded face. “Just ask Holts,” Ovechkin says, calling on the guy who just recorded a shutout in the biggest game of either of their lives to try to capture this moment, because he really can’t. “This kind of emotion,” Ovechkin says, still trying, “it’s hard to explain what I’m feeling.” if ( “1” == true && ‘undefined’ !== typeof window.getIndexAds ) { var so = {preroll:{1:{1:{siteID:191888},2:{siteID:191889}}}}; adServerUrl = window.getIndexAds( ‘http://pubads.g.doubleclick.net/gampad/ads?sz=640×360&iu=%2F7326%2Fen.sportsnet.web%2FVideo&ciu_szs=300×250&impl=s&gdfp_req=1&env=vp&output=vast&unviewed_position_start=1&ad_rule=1&vid=5788992413001&cmsid=384’, so, permalink); }… Read More

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Thursday 24 May 2018

Company news, markets and financial talking points, available from 8am Monday to Friday Pound slides after surprise fall in inflation UK inflation has fallen unexpectedly to its lowest level for a year, with lower airfares helping bring down the consumer price index to 2.4%. Forecasters had expected the annual rate of growth in prices to remain unchanged. The pound fell sharply against the dollar, ending the day at $1.33, as investors felt the next interest rate rise by the Bank of England had slipped further away. Split at Barclays over Standard Chartered plan The Barclays board is split between its chief executive and chairman amid speculation that the lender is… Read More

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Uber to open Advanced Technologies Center in Paris focused on flying taxis

Uber’s plan to fill the skies above cities with swarms of electric-powered flying taxis is getting its own dedicated laboratory. The company announced Thursday that it will build a new Advanced Technologies Center in Paris focused on its ambitious Uber Elevate project, the ride-hail company’s first research and development hub located outside North America. Uber says it will spend €20 million ($23.4 million) over five years to engineer all the backend technology, including AI algorithms and air traffic control systems, necessary to support a full-scale aerial taxi service. The company also announced a five-year research partnership with École polytechnique, the prestigious French engineering school located in a suburb southwest of…… Read More

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