Next ditches TopShop offer amid bidding frenzy for high street titan

Next has pulled out of the bidding for TopShop as the auction of Sir Philip Green’s former high street empire enters its closing stages. Sky News has learnt that a consortium comprising Next and Davidson Kempner Capital Management, a US investment firm, have withdrawn from a process being run by Arcadia Group’s administrator. The surprise move comes days after Next […]

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Factbox: Yellen to negotiate multilateral tax deals, study SALT deduction

WASHINGTON (Reuters) – U.S. Treasury nominee Janet Yellen underscored on Thursday the Biden administration’s intent to remake tax and trade policy after making domestic investments on workers and infrastructure in written answers to senators’ questions. The Senate Finance Committee plans to consider her nomination for Treasury Secretary for 10 a.m. EST on Friday, potentially paving the way for confirmation by […]

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How Wall Street Reflects the Economy Biden Inherits

What big banks reveal about the economy America’s biggest banks have all now released their financial results for the past year, data that reflect the strange economic situation facing President Biden and his new administration. Parts of the economy are booming, others are at a standstill and the outlook is extraordinarily uncertain. Wall Street’s core business is booming. Goldman Sachs’s […]

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London's poshest homes are sitting empty during Covid-19 crisis

LONDON (BLOOMBERG) – London’s luxury housing market is enduring a lonely lockdown. Homes in the most expensive areas of the capital are sitting empty for more than two months before finding tenants, the longest waiting period since the last financial crisis, according to property data company LonRes. And that’s despite rents recently plummeting at the fastest annual pace in a […]

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BlackRock to add Bitcoin as eligible investment to two funds

NEW YORK (REUTERS) – BlackRock is adding Bitcoin futures as an eligible investment to two funds, a company filing showed, in a move to bring the world of cryptocurrency to its clients. The world’s largest asset manager said it could use Bitcoin derivatives for its funds BlackRock Strategic Income Opportunities and BlackRock Global Allocation Fund Inc. The funds will invest […]

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‘Strong smell of cannabis’ near Bank of England leads to drugs factory

More than 800 plants have been seized after a tip-off about a “strong smell of cannabis” led to a raid on a building close to the Bank of England. City of London Police said it was the first find of its kind in the financial district – currently largely deserted because of the COVID-19 crisis. A statement said: “This is […]

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‘They Have Not Legitimately Won’: Pro-Trump Media Keeps the Disinformation Flowing

Forgoing any appeals for healing or reflection, right-wing media organizations that spread former President Donald J. Trump’s distortions about the 2020 election continued on Wednesday to push conspiracy theories about large-scale fraud, with some predicting more political conflict in the months ahead. The coverage struck a discordant tone, with pro-Trump media and President Biden in a jarring split screen: There […]

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Joseph Biden Promises New Day in America

President Joseph Biden took power in Washington promising to bring the nation back together — to battle the coronavirus, take on the old ill of systemic racism and “make America once again the leading force for good in the world.” “This is America’s Day,” Biden said on the steps of the Capitol, where just two weeks ago a mob riled […]

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TV Captures the End of a Tumultuous Presidency

Hours before Joseph R. Biden Jr. took the presidential oath of office, President Trump offered one more made-for-TV moment. A little past 8 a.m. on Wednesday, the cable news channels and major broadcast networks were trained on images of Marine One, the presidential helicopter, as it swooped past the Washington Monument and settled onto the South Lawn of the White […]

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