Donald Trump has insisted that the US military presence in Syria is “only for the oil”, contradicting his own officials who have insisted that the remaining forces were there to fight Isis.
Related: Donald Trump says US military presence in Syria 'only for the oil' – live
Continue reading...Damning CQC report on private Cygnet Acer clinic where patients could self harm and one died by hanging
A privately run mental health unit has been banned from admitting new patients after inspectors found numerous safety failings, one of which led to a resident dying by hanging.
The Care Quality Commission (CQC) has stopped the Cygnet Acer Clinic, in Chesterfield, Derbyshire, from accepting new inpatients. It declared that the facility was “not safe” for people to use.
Continue reading...European court of justice says origin must be identified in decision likely to anger Israel
The European Union’s top court has ruled that EU countries must oblige retailers to identify products made in Israeli settlements with special labels, in a ruling likely to spark anger in Israel.
The European court of justice (ECJ) said in a statement that “foodstuffs originating in the territories occupied by the state of Israel must bear the indication of their territory of origin”.
Continue reading...World’s biggest planemaker hopes aviation authorities will soon approve plane’s flight control software
Boeing said on Monday it could have its fleet of 737 Max jets flying again by January as safety checks on the aircraft’s troubled flight software reach completion. The planes were grounded in March in the wake of two fatal crashes in the space of five months that killed 346 people.
The world’s biggest planemaker said it hoped the Federal Aviation Administration would approve certification of the plane’s flight control software before the end of the year. A fault with the plane’s anti-stall mechanism is believed to have caused the Lionair crash in Indonesia last October and then the Ethiopian Airlines disaster in March.
Continue reading...Patrick McLarry, 71, of Devon, faces jail after taking more than £250,000 from scheme
The former head of a charity faces a substantial prison sentence after admitting to defrauding a pension scheme for workers with disabilities and using the money to buy houses in England and France.
Patrick McLarry, 71, took more than £250,000 from the pension scheme of Yateley Industries for the Disabled and used it to buy homes for himself and his wife and pay off a debt over a pub lease.
Continue reading...State-owned Saudi oil giant said it will provide the final offer price on 5 December
Bidding for shares in the world’s most profitable company will start in one week, it has been announced. Saudi Aramco, the state-owned oil giant, said it plans to provide the final offer price, precise number and percentage of shares on 5 December.
Its prospectus, released on Saturday night, showed profits of $68.2bn (£53.3bn) for the first six months of this financial year, but did not include any indication of the value the Saudi government hopes to achieve.
Continue reading...TfL says aim is for the London rail link to open ‘as soon as practically possible in 2021’
Crossrail will not open until 2021 and has incurred a further cost overrun that will take the total price of the London rail link to more than £18bn, Transport for London (TfL) has announced.
The latest assessment for the opening of the central section has ruled out late 2020 and the aim is for Crossrail to open “as soon as practically possible in 2021”, the capital’s transport authority said. TfL had previously said the Elizabeth line, as the service will be called, was unlikely to start running before 2021 but had kept an autumn 2020 opening in its plans.
Continue reading...Like the big banks, big tech uses its lobbying muscle to avoid regulation, and thinks it should play by different rules. And like the banks, it could be about to wreak financial havoc on us all. By Rana Foroohar
‘In every major economic downturn in US history, the ‘villains’ have been the ‘heroes’ during the preceding boom,” said the late, great management guru Peter Drucker. I cannot help but wonder if that might be the case over the next few years, as the United States (and possibly the world) heads toward its next big slowdown. Downturns historically come about once every decade, and it has been more than that since the 2008 financial crisis. Back then, banks were the “too-big-to-fail” institutions responsible for our falling stock portfolios, home prices and salaries. Technology companies, by contrast, have led the market upswing over the past decade. But this time around, it is the big tech firms that could play the spoiler role.
You wouldn’t think it could be so when you look at the biggest and richest tech firms today. Take Apple. Warren Buffett says he wished he owned even more Apple stock. (His Berkshire Hathaway has a 5% stake in the company.) Goldman Sachs is launching a new credit card with the tech titan, which became the world’s first $1tn market-cap company in 2018. But hidden within these bullish headlines are a number of disturbing economic trends, of which Apple is already an exemplar. Study this one company and you begin to understand how big tech companies – the new too-big-to-fail institutions – could indeed sow the seeds of the next crisis.
Continue reading...Returning infrastructure investment to 1970s levels may be undeliverable, says IFS
Labour and the Conservatives have triggered a public spending bidding war, promising massive programmes of borrowing that will return public investment to levels last seen in the 1970s, according to Britain’s leading experts on the public finances.
The Institute for Fiscal Studies said plans unveiled by Sajid Javid, the chancellor, and John McDonnell, his Labour shadow, would represent a decisive break with the past, but warned that a future government might have trouble delivering projects on the scale envisaged.
Continue reading...IMF says deal to alleviate trade tensions could persuade it to revise up growth forecasts
China has raised hopes that a deal can be reached to end its trade war with the US after agreeing with Washington to roll back some tariffs.
The prospect of an agreement sent stock markets soaring to all-time highs and prompted the International Monetary Fund (IMF) to say a deal easing trade tensions between the US and China could persuade its officials to revise up forecasts for global growth next year.
Continue reading...The company’s new logo is designed to bring a ‘sense of optimism’ to the brand that brought us the Cambridge Analytica scandal
Forget Facebook: meet FACEBOOK.
Amid antitrust investigations, Capitol Hill hearings, and a generally poor reputation, the company announced on Monday it is reinventing itself with a rebrand. In the coming weeks, a new multicolored, all-caps logo will begin appearing across its services. Instagram and Whatsapp, owned by the company, will proudly tell users that they are services “from FACEBOOK”.
Continue reading...Cities are testing new systems to reduce the pollution and congestion caused by of the final leg of a package’s journey from warehouse to doorstep
The cube truck sidled up to a row of parked cars on a busy Montreal street and threw on its hazard lights, blocking a lane of traffic. The driver hopped out with a package in hand and disappeared into a building, leaving a bottleneck of frustrated drivers in his wake.
“This is exactly what we’re trying to change,” said Agathe Besse-Bergier, a project coordinator with the city, as she watched the scene unfold.
Continue reading...Tasmanian man’s body was found in a fire stairwell at Bondi Junction shopping centre three weeks after he disappeared
As Bernard Gore’s wife of 50 years waited to meet him in a Sydney shopping centre, she had no idea her husband was trapped nearby in a fire stairwell where he would later die.
Angela Gore, surrounded by her children, cried silently as an inquest heard how her husband’s body was found kneeling forward – as if he’d fallen off a nearby chair – in the stairwell at Westfield Bondi Junction in early 2017.
Continue reading...McDonald’s chief executive officer, Steve Easterbrook, has left the fast food giant after violating company policy by engaging in a consensual relationship with an employee, the corporation said on Sunday.
Related: Profile: McDonald’s chief executive Steve Easterbrook
Continue reading...Sixteen-nation Regional Comprehensive Economic Partnership will cover half the planet’s people
The world’s largest trade deal is unlikely to be signed this year, with a draft statement from south-east Asian leaders suggesting it will be delayed until 2020, despite China’s desire to bring it into operation as soon as possible as a counterweight to its debilitating tariff war with the US.
The 16-country Regional Comprehensive Economic Partnership – known as the RCEP – would be the world’s largest when operational, spanning India to New Zealand, including 30% of global GDP and half of the world’s people.
Continue reading...The philanthropist who has spent billions promoting democracy talks populism, Trump and powerful enemies
Around three decades ago, George Soros was introduced to a brash property magnate over dinner at a country house in the Catskills, upstate New York. Donald Trump was about to launch a New York office block, and he asked Soros to be his lead tenant. Soros was already a spectacularly successful financier, but told Trump he simply couldn’t afford it. “And that was just because I didn’t like him,” he tells me, smiling.
It’s not hard to see why Soros took such an instant dislike. Worldly, bookish, curious and somewhat shy, he tends to find other businessmen boring. He is unimpressed by celebrity, preferring the company of intellectuals, journalists and anyone he feels knows more about a given subject than he does. As a hedge fund manager, he was more likely to spend his free time reading and writing philosophy texts than hanging out on the golf course. If you had to conjure up a personality that is the polar opposite of the current president of the United States, it would look a lot like Soros.
Continue reading...Mahathir Mohamad says amount is insufficient but a better offer might lead Malaysia to drop its demand for US$7.5bn
Malaysia has rejected an offer from Goldman Sachs of less than US$2bn in compensation over the 1MDB scandal, in contrast to the country’s publicly stated demand of US$7.5bn.
Malaysia has charged Goldman and 17 current and former directors of its units for allegedly misleading investors over bond sales totalling US$6.5bn that the US bank helped raise for the sovereign wealth fund 1Malaysia Development Bhd (1MDB).
“Goldman Sachs has offered something like less than $2bn,” the Malaysian prime minister, Mahathir Mohamad, told the Financial Times on Friday. “We are not satisfied with that amount so we are still talking to them … If they respond reasonably we might not insist on getting that $7.5bn.”
Related: US strikes deal with fugitive Jho Low to recoup almost $1bn stolen from 1MDB
Continue reading...Photographer David Levene visited Malawi with Sarah Boseley, to document the impact of the tobacco industry on the wellbeing of the local farming communities whose livelihood depends on it. Human rights lawyers Leigh Day are working with Malawian translators and paralegals interviewing potential clients to join the watershed legal action against British American Tobacco
Warning comes a week after company flagged it may close its New Zealand smelter
Mining giant Rio Tinto says its Australian Aluminium smelters, which employ more than 2,600 workers, are not sustainable at current power prices.
The company runs three smelters in Australia, which are under financial pressure due to the high price of electricity, which makes up about a third of their costs, and the low price of aluminium due to a flood of cheap supply coming from Asian competitors.
Continue reading...Three UK businessmen plead guilty in US to bribing officials in nine countries over 17 years
Three British businessmen have admitted their roles in paying multimillion-dollar bribes to officials in nine countries over 17 years, American prosecutors have said.
Two brothers from the Ahsani family, who ran the energy consultancy Unaoil, have pleaded guilty to facilitating the payment of bribes between 1999 and 2016 to officials in Africa and the Middle East.
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