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Hot Off The Wires - 24th November 2020

News


  • A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the Bank of England governor Andrew Bailey has warned.

  • Rishi Sunak is set to squeeze millions of retirees’ incomes in his spending review by pressing ahead with an inflation shake-up that will cost investors more than £100 bn.

  • Snapchat has introduced a new feature that will allow users to share videos with a wider audience, becoming the latest social media app to compete with Chinese sensation TikTok.

  • French food company Danone will cut up to 2,000 jobs, or 2% of its workforce, as part of a reorganisation to give more power to managers and squeezing out efficiencies.

  • Equiti Capital, a London foreign exchange broker, is facing a multimillion pound legal claim over its alleged links to a suspected $125m Ponzi-like fraud being investigated by the US Securities and Exchange Commission.

  • Cineworld has secured more than $750m of extra funding after the closure of its screens across the US and UK forced it into emergency talks with lenders.


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Trivia


Which English king built castles in the 13th century to help conquer Wales?

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