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‘World’s richest 1% get 82% of the wealth’, says Oxfam

The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed. Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said. Oxfam said its figures – which critics have queried – showed a failing
Money

Theresa May vows to stop private sector ‘pension abuse’

The government will stop workers' pensions being put at risk from "executives who try to line their own pockets", the prime minister has said. In the Observer, Theresa May said a government white paper would set out "tough new rules" for company bosses. It comes after it emerged that the collapse of construction firm Carillion could leave its pension scheme with a
Money

Amazon opens a supermarket with no checkouts

In a move that could revolutionise the way we buy groceries, Amazon opens its first supermarket without checkouts – human or self-service – to shoppers on Monday. Amazon Go, in Seattle, has been tested by staff for the past year. It uses an array of ceiling-mounted cameras to identify each customer and track what items they select, eliminating the need for
Money

Brexit transition deal needed “urgently” warns European banks group

Politicians on both sides of the Channel must “urgently” agree a Brexit transition deal to avoid a legal and regulatory cliff edge which would cause chaos for firms and threaten financial stability, according to a lobby group for Europe’s biggest banks. The Association for Financial Markets in Europe (Afme), which counts JP Morgan, Lloyds, and Citi among its heavyweight
Money

The European Union will benefit from a City Brexit deal

French President Emmanuel Macron made quite an impression during his brief visit to the UK last week. Not since the visit of President Obama in 2011 has the British media been quite so excited about catching a word from a visiting politician. Angela Merkel may be a step closer to forming a government (Berlin watchers think one could be in place by Easter) but she has
Money

It’s June or nothing for eurozone reform: Bruno Le Maire

PARIS — Stop talking, start deciding. That’s the key message French Economy Minister Bruno Le Maire wants to send eurozone governments ahead of a crucial meeting of finance ministers this week — the first Eurogroup meeting to be chaired by its new president, Portugal’s Mário Centeno. “The roadblocks preventing a true eurozone reform have been known for almost 10 years,
Money

Second coming of Sylvie Goulard

PARIS — Emmanuel Macron has made a first and surprising move in the high-stakes game that will end with the near-total renewal at the top of all major EU institutions in the second half of 2019. That’s the upshot of the French president’s rehabilitation of former (albeit briefly) Defense Minister Sylvie Goulard, unexpectedly selected as deputy governor of Banque de
Money

France and Germany agree on eurozone reform

PARIS — Governments talk a lot about eurozone reform but can’t get their act together. So it’s time for academics to step in. That impatience seems to be at the core of an unprecedented initiative by French and German economists, who published Wednesday a detailed plan on how to make the monetary union shock-resistant and a better guarantor of long-term
Money

Pierre Moscovici sees big leap for eurozone

WASHINGTON — European Commissioner for Economic and Financial Affairs Pierre Moscovici said Friday he was confident eurozone countries would pursue an ambitious restructuring of their currency union after upcoming elections in France and Germany. “It will be a window of opportunity that we must not miss,” he said in an interview on the sidelines of the International