Finance News

UK Covid live: No 10 refuses to back minister’s suggestion that big Christmas parties might be unwise

Latest updates: prime minister’s spokesperson refuses to endorse suggestion from science minister that firms should not have big Christmas parties

Jeremy Corbyn posted a tweet this morning promoting a virtual Stop the War fundraiser this Christmas, not an in-person one. So my earlier post (now removed) about this being an example of a party going ahead that might not meet with George Freeman’s approval was completely wrong. I apologise for the mistake.

The Cabinet Office has been fined £500,000 for accidentally disclosing the postal addresses of the 2020 new year honours list recipients online, in breach of data protection laws.

On 27 December 2019 the Cabinet Office published a file on GOV.UK containing the names and unredacted addresses of more than 1,000 people announced in the new year honours list. People from a wide range of professions across the UK were affected, including individuals with a high public profile.

After becoming aware of the data breach, the Cabinet Office removed the weblink to the file. However, the file was still cached and accessible online to people who had the exact webpage address.

When data breaches happen, they have real-life consequences. In this case, more than 1,000 people were affected. At a time when they should have been celebrating and enjoying the announcement of their honour, they were faced with the distress of their personal details being exposed.

The Cabinet Office’s complacency and failure to mitigate the risk of a data breach meant that hundreds of people were potentially exposed to the risk of identity fraud and threats to their personal safety.

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Stocks making the biggest moves premarket: Snowflake, Boeing, Apple and more

These are the stocks posting the largest moves before the bell.

When a far-right candidate has ‘le buzz’, France shouldn’t take young people for granted | Oliver Haynes

The youth movement around Éric Zemmour, though small, is an indication that this deeply political generation can also be nihilistic

  • This article was highly commended in the Guardian Foundation’s 2021 Hugo Young award, which champions political opinion writing among 18- to 25-year-olds

In early 2019 I was teaching French sixth formers on an Erasmus placement when we got into a discussion about immigration. Some girls spoke admiringly of women on the centre-right, some boys were liberal left, though suspicious of the excesses of internet social justice politics, while others might be dismissed as “woke”.

They all rolled their eyes when I asked them what they thought of Éric Zemmour, the smirking far-right polemicist running for president. My students thought he was racist and wrote him off as a crank. They hated Marine Le Pen of the far-right Rassemblement National (National Rally) but took her seriously. You had to accept that she was part of the political furniture, but this guy was beyond the pale. He had, after all, been convicted of hate speech.

Oliver Haynes, a student from City of London University, was highly commended in the Guardian Foundation’s Hugo Young award for political opinion writing 2021, for this piece

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Emmanuel Macron’s dangerous shift on the New Caledonia referendum risks a return to violence |...

With the growing possibility of a pro-independence victory, France is derailing decolonisation in a bid to shore up its position in the Indo-Pacific

The French government’s decision to hold New Caledonia’s self-determination referendum on 12 December, despite the resolve of pro-independence parties not to participate, is a reckless political gambit with potentially dire consequences.

The referendum will be the third and final consultation held under the 1998 Noumea accord – successor to the Matignon accords which ended instability and violence between the Kanak independence movement and local “loyalists” and the French state in 1988. By organising this month’s referendum without the participation of the Indigenous Kanak people, who overwhelmingly support independence, France is undermining the innovative and peaceful decolonisation process of the last 30 years, founded on French state neutrality and seeking consensus between opposing local political parties.

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Macron privately called Boris Johnson a ‘clown’, says French magazine

Report follows French president’s complaint about PM’s behaviour after they discussed sinking of refugee boat in the Channel

The French president, Emmanuel Macron, referred to Boris Johnson in a private conversation as a “clown”, according to reports in France.

The political magazine Le Canard enchaîné, often described as the French equivalent of Private Eye, reported Macron as saying the British prime minister has “the attitude of a vulgarian”.

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Stock futures inch higher after sell-off prompted by first U.S. omicron case

U.S. stock index futures inched higher during overnight trading on Wednesday.

People onboard sinking Channel dingy ‘tried to contact UK authorities’

Home Office acknowledges people involved in tragedy may have tried to call for help as investigations continue

The occupants of a boat which sank last week in the Channel causing the deaths of at least 27 people may have tried to contact the UK authorities, the Home Office has acknowledged.

Dan O’Mahoney – the clandestine channel threat commander – said he could not say with any certainty if those onboard had rung the UK for help. Speaking to parliament’s human rights committee, O’Mahoney said HM Coastguard was now investigating.

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Stocks making the biggest moves midday: Vertex Pharmaceuticals, Moderna, Lennar, Salesforce and more

These are the stocks posting the largest moves in midday trading.

Financial watchdog cracks down on bank overdraft fees

The Consumer Financial Protection Bureau is increasing oversight of banks with a heavy reliance on overdraft fees for revenue, the agency said Wednesday.

A for-profit prison company is going public via SPAC, raising ESG concerns in the blank-check space

Securus Technologies, a prison services company, is in talks to go public via merging with Atlantic Avenue Acquisition Corp.

Harrison Street CEO Christopher Merrill says inflation could last 'for the next decade'

Christopher Merrill sat down with Leslie Picker to discuss how his strategy has endured over the years and why he thinks inflation may linger for a decade.

Capital One says it is ditching all consumer overdraft fees, giving up $150 million in annual revenue

Banks have been under pressure from consumer advocates to eliminate overdraft fees because they often punish those who can least afford to pay them.

The rise of Éric Zemmour shows how far France has shifted to the right | Didier Fassin

The far-right media pundit is now a presidential candidate – and his toxic ideas have ever more mainstream support

On 17 November, the far-right journalist and polemicist Éric Zemmour went on trial in Paris on charges of incitement to racial hatred. In September 2020, he had said on the French news broadcaster CNews that unaccompanied foreign minors were “thieves, they’re murderers, they’re rapists, that’s all they are. We must send them back”. He did not appear at the trial and was represented by his lawyers, who said the charges were unfounded. The verdict is expected to be delivered next year.

Zemmour has previously been convicted of incitement to racial hatred and religious hatred and been tried and acquitted in several other cases. But the stakes are different this time: the defendant is now a candidate for president of the French republic. In early November, polls indicated that up to 17% of the electorate would choose him for next president. This placed him behind only Emmanuel Macron, suggesting that the second round of the election could be between the two men. On 30 November, he officially announced his candidacy.

Didier Fassin is a professor at the Institute for Advanced Study, Princeton, and director of studies at the École des Hautes Études, Paris

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Dunkirk’s camps – in pictures

Guardian photographer David Levene visited northern France after twenty-seven people drowned in the Channel last week as they attempted to make the perilous crossing from France to Britain across busy shipping lanes in a dinghy that deflated in the open sea.

The number of people crossing the Channel has increased to 25,776 in 2021, up from 8,461 in 2020, according to Home Office figures. Those who want to cross gather at camps that have sprung up between Calais and Dunkirk. The police routinely destroy the makeshift camps and their occupants are dispersed to holding centres across the country, though many soon return to the coast in northern France.

After a previous camp was destroyed by French authorities last week, a new one sprang up on disused railway tracks near to Grand-Synthe, a suburb of Dunkirk.

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From the archive: The ruthlessly effective rebranding of Europe’s new far right – podcast

We are raiding the Audio Long Read archives to bring you some classic pieces from years past, with new introductions from the authors.

This week, from 2016: Across the continent, rightwing populist parties have seized control of the political conversation. How have they done it? By stealing the language, causes and voters of the traditional left. By Sasha Polakow-Suransky


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'Way overdue for a correction': Long-time bull Jim Paulsen delivers a 10% to 15% pullback forecast

The Leuthold Group’s Jim Paulsen believes the latest weakness is a foreshock to a more serious downturn.

Stock futures rise ahead of first trading day of December after omicron fears dent markets

Wednesday marks the first trading day of the final month of 2021.

Stocks making the biggest moves after hours: Salesforce, Box, Ambarella and more

See which stocks are posting big moves after the bell on Tuesday, November 30.

Goldman Sachs unveils Amazon-backed cloud service for Wall Street trading firms

The move puts 152-year-old Goldman in the unusual position of being a provider of cloud services for Wall Street.

Far-right TV pundit Éric Zemmour to run for French presidency

It’s time to save France, controversial figure says as he reads video speech posted on social media

Éric Zemmour, the controversial French far-right TV pundit with convictions for inciting racial hatred, has declared he will run for president next spring, claiming he wanted to “save” traditional France from “disappearing”.

In a 10-minute video posted on social media, Zemmour sat at a desk reading a speech in front of an old-fashioned microphone designed to look like Charles de Gaulle’s famous June 1940 broadcast to Nazi-occupied France – sparking anger from the traditional Gaullist right.

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Here's why unemployment claims hit their lowest level since 1969

Claims for unemployment benefits are trending downward. A seasonal adjustment likely made the most recent data appear rosier than reality.

Ray Dalio says cash is not a safe place right now despite heightened market volatility

"Cash is not a safe investment, is not a safe place because it will be taxed by inflation," Dalio said Tuesday on CNBC's "Squawk Box."

It's premature to turn bearish based on Covid omicron variant fears, Stifel's chief economist suggests

Stifel's chief economist, Lindsey Piegza, is hesitant to change her economic outlook right now despite new risks.

Powell to tell Senate omicron variant poses downside risk to economy, complicates inflation picture

Fed Chair Jerome Powell believes that the omicron variant of Covid-19 and a recent rise in coronavirus cases pose a threat to the U.S. economy.

Stocks making the biggest moves midday: Twitter, Moderna, Merck, Tesla and more

These are the stocks posting the largest moves in midday trading.

Johnson insulting France over Channel crossings will only make things worse | Simon Jenkins

The prime minister’s pointlessly macho stance is putting the UK ever more at odds with its closest neighbour

France’s interior minister, Gérald Darmanin, is a sensitive soul. He dislikes British politicians saying nice things to him in private, then turning round and using “insulting” and “strongly unfriendly” language in the House of Commons and the press. He is particularly upset by his British opposite number, Priti Patel, and her boss, Boris Johnson, doing this on the topic of immigration.

We might wonder where the French minister spent his political upbringing to become so innocent of political reality. Yet the substance of Darmanin’s complaint is true. The current cross-Channel migration crisis has two dimensions. One is the real human anguish needing diplomatic and practical resolution. The other is its exploitation in a shouting match for public and political consumption. Thousands of refugees have sought British shores this past year, and last week tragedy struck as 27 of them died in the crossing.

Simon Jenkins is a Guardian columnist

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Stocks making the biggest moves premarket: Moderna, Carnival, Zoom and more

These are the stocks posting the largest moves in premarket trading.

The 12 days of Christmas are more expensive this year

Buying your true love two turtle doves or five gold rings? Inflation is raising the cost.

Bill Ackman says the omicron Covid variant could end up being bullish for markets

Bill Ackman said the new omicron variant of the Covid-19 virus could actually give U.S. stocks a boost if symptoms turn out to be less severe.

Stock futures move higher after Friday's big sell-off, investors monitor omicron Covid variant

Stocks are coming off a holiday-shortened session Friday in which the Dow posted its worst day since October 2020.