Minggu, 12 Mei 2019

Hinduja brothers top Rich List for third time - BBC News

The billionaire Hinduja brothers have been named as the wealthiest people in the UK for a third time, according to the Sunday Times Rich List.

Sri and Gopi Hinduja saw their fortune increase by £1.356bn in the last year to £22bn, the paper estimates.

Meanwhile, chemicals firm founder Sir Jim Ratcliffe, who topped last year's list, has slipped to third place.

And Valerie Moran becomes the first black female entrepreneur ever to make the paper's Rich List.

Family business the Hinduja Group was founded in Mumbai in 1914, and now has interests around the world including in oil and gas, banking, IT and property.

British citizens Sri, 83, and Gopi, 79, who are based in London, are two of the four brothers controlling the empire.

Among the properties they own is the Old War Office in Whitehall, which they hope to reopen as a luxury hotel.

The two brothers topped the newspaper list in 2014 and in 2017.

The Sunday Times Rich List 2019 (Top 10)

  1. Sri and Gopi Hinduja (Industry and finance) | £22bn
  2. David and Simon Reuben (Property and internet) | £18.7bn
  3. Sir Jim Ratcliffe (Chemicals) | £18.2bn
  4. Sir Len Blavatnik (Investment, music and media) | £14.4bn
  5. Sir James Dyson and family (Household goods and technology) | £12.6bn
  6. Kirsten and Jorn Rausing (Inheritance and investment) | £12.3bn
  7. Charlene de Carvalho-Heineken (Inheritance, brewing and banking) | £12bn
  8. Alisher Usmanov (Mining and investment) | £11.3bn
  9. Roman Abramovich (Oil and industry) | £11.2bn
  10. Mikhail Fridman (Industry) | £10.9bn

The list, which estimates the 1,000 richest people in the UK, is based on identifiable wealth including land, property, other assets such as art, and shares in companies, the Sunday Times says. It does not include the amount contained in people's bank accounts.

Brothers David and Simon Reuben - who made their fortune in property, carpets and scrap metal - are in second place on the list, with a combined wealth of £18.664bn.

Meanwhile, the richest person on last year's list, Sir Jim Ratcliffe, who founded the Ineos chemicals firm, saw his net worth drop by £2.9bn since last year, the paper says.

Inventor Sir James Dyson - who campaigned for Brexit and has announced he would be relocating his company headquarters to Singapore - comes in at fifth on the list, up from 12th last year.

Zimbabwe-born Ms Moran is the first black female entrepreneur on the Rich List, ranking joint 970th alongside her husband, Noel. The couple, whose combined fortune is estimated at £122m, have a 81.5% stake in financial technology company Prepaid Financial Services.

Kirsten Rausing, part of the Rausing family which was behind the Tetra Pak drinks carton empire, is the highest ranked woman on the list. She appears alongside her brother Jorn Rausing in sixth place, with a combined estimated wealth of £12.256bn.

Meanwhile, Sir Philip Green and his wife Tina are placed at 156th on the list, down from 66th last year.

His fortune has been estimated at £950m - the first time in 17 years that Sir Philip has not been listed as a billionaire.

Sir Philip's company, The Arcadia Group, has been coping with a pensions deficit.

Robert Watts, who compiled this year's list, said: "On the face of it this looks like a bumper year for the super-rich, with record wealth, more billionaires and the entry level rising to £120m.

"But many of the rich are nursing big losses after a year of turbulence on the stock market and political deadlock in Westminster.

"Technology is making and breaking fortunes. We are finding young entrepreneurs making vast sums of money from online fashion retail, dating apps and creating YouTube videos."

He added that online shopping "continues to have a profound effect" on UK high streets, adding that well known retailers "are seeing their fortunes smashed by this seismic change".

For the sixth year in a row, Scotland's richest person was named as Glenn Gordon and his family, the Jersey-based tycoon behind distillers William Grant & Sons. The group produces whisky including Grant's, Glenfiddich and The Balvenie, as well as Hendrick's gin.

And Cardiff-born venture capitalist Sir Michael Moritz remains Wales' richest person with a £3bn fortune.

The richest sports star aged 30 or under was named as Northern Irish golfer Rory McIlroy.

Meanwhile, top of the Music Rich List in the UK - which includes writers and performers - is Andrew Lloyd Webber with a fortune of £820m.

Musician Ed Sheeran doubled his wealth last year, while grime artist Stormzy made his debut on the rich list of young musicians with £16m.

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https://www.bbc.com/news/uk-48240853

2019-05-12 02:36:18Z
CBMiJGh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy91ay00ODI0MDg1M9IBAA

Sabtu, 11 Mei 2019

London mayor says Trump not worthy of a state visit - Washington Examiner

London Mayor Sadiq Khan said unlike former Presidents George W. Bush and Barack Obama, President Trump is not worthy of the honors of an official state visit.

Khan specifically took issue with the "Access Hollywood" tape, where Trump said how he could just grab women by their genitals and start kissing them since he was famous, and with TV host Billy Bush laughing along in 2005.

When Trump won the presidency in 2016, "an impression [was] being given you could get away with it, that you get a get out of jail card," Khan told British radio talk station LBC on Friday.

Khan said because the United Kingdom has a special relationship with the U.S., they should call out immoral behavior and not have to dignify it.

“Of course we should have a close relationship with the president of the U.S.A., but we shouldn’t be rolling out the red carpet. We shouldn’t have a state banquet,” Khan said. “History tells us only two presidents have had a state visit. President Trump is not in the same class as those two, but it's possible to have a working relationship without the need to have a state banquet and roll out the red carpet."

Trump will visit the U.K. in June. Jeremy Corbyn, the leader of the left-wing Labour Party, said he would meet with Trump, but declined the invitation to the state dinner and criticized Prime Minister Theresa May for "rolling out the red carpet."

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https://www.washingtonexaminer.com/news/london-mayor-says-trump-not-worthy-of-a-state-visit

2019-05-10 22:28:00Z
52780292024342

Jumat, 10 Mei 2019

UK economy rebounds in first quarter - BBC News

Media playback is unsupported on your device

The UK economy picked up in the first three months of the year after manufacturers' stockpiling ahead of Brexit helped to boost growth.

Growth was 0.5% in the quarter, up from 0.2% in the previous three months, the Office for National Statistics said.

The manufacturing sector grew at its fastest rate since 1988 in the period.

The ONS said this was driven by manufacturers rushing to deliver orders before the original Brexit deadline of 29 March.

Pharmaceuticals was one of the sectors most affected, expanding 9.4% between January and March.

Previous business surveys had shown manufacturers stockpiling goods for Brexit in case the UK left the EU without a transition deal, which they feared could lead to delays at UK borders.

What impact has Brexit had on the figures?

As well as manufacturers rushing to deliver orders before the UK was due to leave the EU, firms also stockpiled parts.

This drove a surge in imports, with the total trade deficit - the gap between what the UK imports and exports - doubling in the first quarter to a record high, separate data from the ONS showed.

The total trade deficit widened from £8.9bn to £18.3bn, driven partly by a sharp increase in imports of cars and gold.

However, the UK's deadline to exit the EU has since been extended until the end of October after Prime Minister Theresa May asked the EU for more time to negotiate a deal.

Is the economy stabilising?

Chancellor Philip Hammond said the figures showed the economy remained "robust".

"These GDP figures this morning show again that the UK economy is performing robustly, despite the evidence of slowing global growth and the continued Brexit uncertainty at home - so it's good news," he told the BBC.

But analysts have warned the impact of Brexit could mean the pick-up in growth is short-lived.

Tej Parikh, senior economist at business lobby group the Institute of Directors, said it could well be just "a flash in the pan".

"Some businesses brought activity forward early this year in preparation for leaving the EU, so higher stocks and earlier orders have artificially bumped up the growth numbers.

"In the second quarter, many firms will be keen to run down their Brexit caches, which will drag on economic growth," he said.

But Ruth Gregory, senior UK Economist at Capital Economics, said the figures offered some "encouraging signs that underlying growth gained some pace".

She said household consumption growth was "solid" and pointed out that business investment grew "for the first time in four quarters".

What do the trade figures tell us about the economy?

There's something upbeat in today's figures and also something downbeat, quite possibly with the same cause.

In spite of all the political fuss, the economy grew better than it has in a while. At 1.8% for the year, it is almost at pre-financial crisis rates, when growth of 2-3% a year was normal.

The figures can be taken to confirm predictions that there would be a boost to economic growth from "stockpiling" - firms spending more than usual building up their stocks of supplies, just in case a no-deal Brexit meant cross-border trade seized up.

Manufacturing enjoyed a boost and more cars were imported than usual. You can't tell from these figures alone, but that may also be due to stockpiling: a "buy-now-while-stocks-last" effect in case the pound dropped (making imported cars more expensive) and tariffs were imposed (ditto).

But here's the downer. Partly due to higher imports, the trade deficit doubled, from £8.9bn to £18.3bn. Because we enjoy a surplus in services, exporting more than we import, it looks even worse when you strip out services.

The trade in goods deficit in the first quarter widened to a record: £43.3bn including non-monetary gold, which rose by £6bn.

We know from numerous economic studies: people buy gold when they're worried. It looks like, in the first quarter of the year, economic growth was lifted - by anxiety. It's small, but you might call it a mini "worry-boom".

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https://www.bbc.com/news/business-48225334

2019-05-10 09:00:18Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy00ODIyNTMzNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNDgyMjUzMzQ

UK economy rebounds in first quarter - BBC News

Media playback is unsupported on your device

The UK economy picked up in the first three months of the year after manufacturers' stockpiling ahead of Brexit helped to boost growth.

Growth was 0.5% in the quarter, up from 0.2% in the previous three months, the Office for National Statistics said.

The manufacturing sector grew at its fastest rate since 1988 in the period.

The ONS said this was driven by manufacturers rushing to deliver orders before the original Brexit deadline of 29 March.

Pharmaceuticals was one of the sectors most affected, expanding 9.4% between January and March.

Previous business surveys had shown manufacturers stockpiling goods for Brexit in case the UK left the EU without a transition deal, which they feared could lead to delays at UK borders.

What impact has Brexit had on the figures?

As well as manufacturers rushing to deliver orders before the UK was due to leave the EU, firms also stockpiled parts.

This drove a surge in imports, with the total trade deficit - the gap between what the UK imports and exports - doubling in the first quarter to a record high, separate data from the ONS showed.

The total trade deficit widened from £8.9bn to £18.3bn, driven partly by a sharp increase in imports of cars and gold.

However, the UK's deadline to exit the EU has since been extended until the end of October after Prime Minister Theresa May asked the EU for more time to negotiate a deal.

Is the economy stabilising?

Chancellor Philip Hammond said the figures showed the economy remained "robust".

"These GDP figures this morning show again that the UK economy is performing robustly, despite the evidence of slowing global growth and the continued Brexit uncertainty at home - so it's good news," he told the BBC.

But analysts have warned the impact of Brexit could mean the pick-up in growth is short-lived.

Tej Parikh, senior economist at business lobby group the Institute of Directors, said it could well be just "a flash in the pan".

"Some businesses brought activity forward early this year in preparation for leaving the EU, so higher stocks and earlier orders have artificially bumped up the growth numbers.

"In the second quarter, many firms will be keen to run down their Brexit caches, which will drag on economic growth," he said.

But Ruth Gregory, senior UK Economist at Capital Economics, said the figures offered some "encouraging signs that underlying growth gained some pace".

She said household consumption growth was "solid" and pointed out that business investment grew "for the first time in four quarters".

What do the trade figures tell us about the economy?

There's something upbeat in today's figures and also something downbeat, quite possibly with the same cause.

In spite of all the political fuss, the economy grew better than it has in a while. At 1.8% for the year, it is almost at pre-financial crisis rates, when growth of 2-3% a year was normal.

The figures can be taken to confirm predictions that there would be a boost to economic growth from "stockpiling" - firms spending more than usual building up their stocks of supplies, just in case a no-deal Brexit meant cross-border trade seized up.

Manufacturing enjoyed a boost and more cars were imported than usual. You can't tell from these figures alone, but that may also be due to stockpiling: a "buy-now-while-stocks-last" effect in case the pound dropped (making imported cars more expensive) and tariffs were imposed (ditto).

But here's the downer. Partly due to higher imports, the trade deficit doubled, from £8.9bn to £18.3bn. Because we enjoy a surplus in services, exporting more than we import, it looks even worse when you strip out services.

The trade in goods deficit in the first quarter widened to a record: £43.3bn including non-monetary gold, which rose by £6bn.

We know from numerous economic studies: people buy gold when they're worried. It looks like, in the first quarter of the year, economic growth was lifted - by anxiety. It's small, but you might call it a mini "worry-boom".

Let's block ads! (Why?)


https://www.bbc.com/news/business-48225334

2019-05-10 08:31:23Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy00ODIyNTMzNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNDgyMjUzMzQ

UK economy rebounds in first quarter - BBC News

Media playback is unsupported on your device

The UK economy picked up in the first three months of the year after manufacturers' stockpiling ahead of Brexit helped to boost growth.

Growth was 0.5% in the quarter, up from 0.2% in the previous three months, the Office for National Statistics said.

The manufacturing sector grew at its fastest rate since 1988 in the period.

The ONS said this was driven by manufacturers rushing to deliver orders before the original Brexit deadline of 29 March.

Pharmaceuticals was one of the sectors most affected, expanding 9.4% between January and March.

Previous business surveys had shown manufacturers stockpiling goods for Brexit in case the UK left the EU without a transition deal, which they feared could lead to delays at UK borders.

What impact has Brexit had on the figures?

As well as manufacturers rushing to deliver orders before the UK was due to leave the EU, firms also stockpiled parts.

This drove a surge in imports, with the total trade deficit - the gap between what the UK imports and exports - doubling in the first quarter to a record high, separate data from the ONS showed.

The total trade deficit widened from £8.9bn to £18.3bn, driven partly by a sharp increase in imports of cars and gold.

However, the UK's deadline to exit the EU has since been extended until the end of October after Prime Minister Theresa May asked the EU for more time to negotiate a deal.

Is the economy stabilising?

Chancellor Philip Hammond said the figures showed the economy remained "robust".

"These GDP figures this morning show again that the UK economy is performing robustly, despite the evidence of slowing global growth and the continued Brexit uncertainty at home - so it's good news," he told the BBC.

But analysts have warned the impact of Brexit could mean the pick-up in growth is short-lived.

Tej Parikh, senior economist at business lobby group the Institute of Directors, said it could well be just "a flash in the pan".

"Some businesses brought activity forward early this year in preparation for leaving the EU, so higher stocks and earlier orders have artificially bumped up the growth numbers.

"In the second quarter, many firms will be keen to run down their Brexit caches, which will drag on economic growth," he said.

But Ruth Gregory, senior UK Economist at Capital Economics, said the figures offered some "encouraging signs that underlying growth gained some pace".

She said household consumption growth was "solid" and pointed out that business investment grew "for the first time in four quarters".

What do the trade figures tell us about the economy?

There's something upbeat in today's figures and also something downbeat, quite possibly with the same cause.

In spite of all the political fuss, the economy grew better than it has in a while. At 1.8% for the year, it is almost at pre-financial crisis rates, when growth of 2-3% a year was normal.

The figures can be taken to confirm predictions that there would be a boost to economic growth from "stockpiling" - firms spending more than usual building up their stocks of supplies, just in case a no-deal Brexit meant cross-border trade seized up.

Manufacturing enjoyed a boost and more cars were imported than usual. You can't tell from these figures alone, but that may also be due to stockpiling: a "buy-now-while-stocks-last" effect in case the pound dropped (making imported cars more expensive) and tariffs were imposed (ditto).

But here's the downer. Partly due to higher imports, the trade deficit doubled, from £8.9bn to £18.3bn. Because we enjoy a surplus in services, exporting more than we import, it looks even worse when you strip out services.

The trade in goods deficit in the first quarter widened to a record: £43.3bn including non-monetary gold, which rose by £6bn.

We know from numerous economic studies: people buy gold when they're worried. It looks like, in the first quarter of the year, economic growth was lifted - by anxiety. It's small, but you might call it a mini "worry-boom".

Let's block ads! (Why?)


https://www.bbc.com/news/business-48225334

2019-05-10 07:58:33Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy00ODIyNTMzNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNDgyMjUzMzQ

UK economy rebounds in first quarter - BBC News

Media playback is unsupported on your device

The UK economy picked up in the first three months of the year after manufacturers' stockpiling ahead of Brexit helped to boost growth.

Growth was 0.5% in the quarter, up from 0.2% in the previous three months, the Office for National Statistics said.

The manufacturing sector grew at its fastest rate since 1988 in the period.

The ONS said this was driven by manufacturers rushing to deliver orders before the original Brexit deadline of 29 March.

Pharmaceuticals was one of the sectors most affected, expanding 9.4% between January and March.

Previous business surveys had shown manufacturers stockpiling goods for Brexit in case the UK left the EU without a transition deal, which they feared could lead to delays at UK borders.

What impact has Brexit had on the figures?

As well as manufacturers rushing to deliver orders before the UK was due to leave the EU, firms also stockpiled parts.

This drove a surge in imports, with the total trade deficit - the gap between what the UK imports and exports - doubling in the first quarter to a record high, separate data from the ONS showed.

The total trade deficit widened from £8.9bn to £18.3bn, driven partly by a sharp increase in imports of cars and gold.

However, the UK's deadline to exit the EU has since been extended until the end of October after Prime Minister Theresa May asked the EU for more time to negotiate a deal.

Is the economy stabilising?

Chancellor Philip Hammond said the figures showed the economy remained "robust".

"These GDP figures this morning show again that the UK economy is performing robustly, despite the evidence of slowing global growth and the continued Brexit uncertainty at home - so it's good news," he told the BBC.

But analysts have warned the impact of Brexit could mean the pick-up in growth is short-lived.

Tej Parikh, senior economist at business lobby group the Institute of Directors, said it could well be just "a flash in the pan".

"Some businesses brought activity forward early this year in preparation for leaving the EU, so higher stocks and earlier orders have artificially bumped up the growth numbers.

"In the second quarter, many firms will be keen to run down their Brexit caches, which will drag on economic growth," he said.

But Ruth Gregory, senior UK Economist at Capital Economics, said the figures offered some "encouraging signs that underlying growth gained some pace".

She said household consumption growth was "solid" and pointed out that business investment grew "for the first time in four quarters".

What do the trade figures tell us about the economy?

There's something upbeat in today's figures and also something downbeat, quite possibly with the same cause.

In spite of all the political fuss, the economy grew better than it has in a while. At 1.8% for the year, it is almost at pre-financial crisis rates, when growth of 2-3% a year was normal.

The figures can be taken to confirm predictions that there would be a boost to economic growth from "stockpiling" - firms spending more than usual building up their stocks of supplies, just in case a no-deal Brexit meant cross-border trade seized up.

Manufacturing enjoyed a boost and more cars were imported than usual. You can't tell from these figures alone, but that may also be due to stockpiling: a "buy-now-while-stocks-last" effect in case the pound dropped (making imported cars more expensive) and tariffs were imposed (ditto).

But here's the downer. Partly due to higher imports, the trade deficit doubled, from £8.9bn to £18.3bn. Because we enjoy a surplus in services, exporting more than we import, it looks even worse when you strip out services.

The trade in goods deficit in the first quarter widened to a record: £43.3bn including non-monetary gold, which rose by £6bn.

We know from numerous economic studies: people buy gold when they're worried. It looks like, in the first quarter of the year, economic growth was lifted - by anxiety. It's small, but you might call it a mini "worry-boom".

Let's block ads! (Why?)


https://www.bbc.com/news/business-48225334

2019-05-10 07:39:56Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy00ODIyNTMzNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNDgyMjUzMzQ

UK economy rebounds in first quarter - BBC News

Media playback is unsupported on your device

The UK economy picked up in the first three months of the year after manufacturers' stockpiling ahead of Brexit helped to boost growth.

Growth was 0.5% in the quarter, up from 0.2% in the previous three months, the Office for National Statistics said.

The manufacturing sector grew at its fastest rate since 1988 in the period.

The ONS said this was driven by manufacturers rushing to deliver orders before the original Brexit deadline of 29 March.

Pharmaceuticals was one of the sectors most affected, expanding 9.4% between January and March.

Previous business surveys had shown manufacturers stockpiling goods for Brexit in case the UK left the EU without a transition deal, which they feared could lead to delays at UK borders.

What impact has Brexit had on the figures?

As well as manufacturers rushing to deliver orders before the UK was due to leave the EU, firms also stockpiled parts.

This drove a surge in imports, with the total trade deficit - the gap between what the UK imports and exports - doubling in the first quarter to a record high, separate data from the ONS showed.

The total trade deficit widened from £8.9bn to £18.3bn, driven partly by a sharp increase in imports of cars and gold.

However, the UK's deadline to exit the EU has since been extended until the end of October after Prime Minister Theresa May asked the EU for more time to negotiate a deal.

Is the economy stabilising?

Chancellor Philip Hammond said the figures showed the economy remained "robust".

"These GDP figures this morning show again that the UK economy is performing robustly, despite the evidence of slowing global growth and the continued Brexit uncertainty at home - so it's good news," he told the BBC.

But analysts have warned the impact of Brexit could mean the pick-up in growth is short-lived.

Tej Parikh, senior economist at business lobby group the Institute of Directors, said it could well be just "a flash in the pan".

"Some businesses brought activity forward early this year in preparation for leaving the EU, so higher stocks and earlier orders have artificially bumped up the growth numbers.

"In the second quarter, many firms will be keen to run down their Brexit caches, which will drag on economic growth," he said.

But Ruth Gregory, senior UK Economist at Capital Economics, said the figures offered some "encouraging signs that underlying growth gained some pace".

She said household consumption growth was "solid" and pointed out that business investment grew "for the first time in four quarters".

What do the trade figures tell us about the economy?

There's something upbeat in today's figures and also something downbeat, quite possibly with the same cause.

In spite of all the political fuss, the economy grew better than it has in a while. At 1.8% for the year, it is almost at pre-financial crisis rates, when growth of 2-3% a year was normal.

The figures can be taken to confirm predictions that there would be a boost to economic growth from "stockpiling" - firms spending more than usual building up their stocks of supplies, just in case a no-deal Brexit meant cross-border trade seized up.

Manufacturing enjoyed a boost and more cars were imported than usual. You can't tell from these figures alone, but that may also be due to stockpiling: a "buy-now-while-stocks-last" effect in case the pound dropped (making imported cars more expensive) and tariffs were imposed (ditto).

But here's the downer. Partly due to higher imports, the trade deficit doubled, from £8.9bn to £18.3bn. Because we enjoy a surplus in services, exporting more than we import, it looks even worse when you strip out services.

The trade in goods deficit in the first quarter widened to a record: £43.3bn including non-monetary gold, which rose by £6bn.

We know from numerous economic studies: people buy gold when they're worried. It looks like, in the first quarter of the year, economic growth was lifted - by anxiety. It's small, but you might call it a mini "worry-boom".

Let's block ads! (Why?)


https://www.bbc.com/news/business-48225334

2019-05-10 07:03:31Z
CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy00ODIyNTMzNNIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9hbXAvYnVzaW5lc3MtNDgyMjUzMzQ