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Royal wedding 2018: Who's paying?

Royal wedding 2018: Who's paying?

Business
From choosing the cake to the flowers and even the chair-covers, anyone who's ever planned a wedding knows it can be eye-wateringly expensive. But when it comes to royal weddings - with all the VIPs, security and extra extravagance - the bill runs into millions.So what do we know about the expected cost of Prince Harry and Meghan Markle's wedding, and how much will the taxpayer be paying towards it?Security costThe wedding will be held in Windsor. And crowds in excess of 100,000 people are expected to descend on the town.Invitations have been sent to 600 guests, with a further 200 invited to the couple's evening receptionOn top of that, 1,200 members of the public will attend the grounds of Windsor Castle.Managing these sorts of numbers requires substanti...
Sainsbury's-Asda merger facing investigation

Sainsbury's-Asda merger facing investigation

Business
Britain's competition regulator has confirmed it is investigating the planned merger between Sainsbury's and Asda. The Competition and Markets Authority (CMA) said it was inviting interested parties to comment on the impact of the deal ahead of a formal "phase one" inquiry.A deal between Sainsbury's and Asda, currently the second and third biggest UK supermarkets, would create a grocery powerhouse, overtaking Tesco as the market leader.It would have 2,800 stores across the UK - including the Argos business already owned by Sainsbury's - with combined revenues of £51bn.Some experts think the CMA could ultimately order the company to dispose of at least 75 stores.There are also concerns about the impact the tie-up would have on suppliers - and this part of the sector is ...
FTSE 100 strikes new record closing high

FTSE 100 strikes new record closing high

Business
The FTSE 100 has registered a new record high - signalling some cheer for UK pension funds as the economy stagnates. London's premier share index closed Thursday's session at 7787 points - a rise of 53 on the previous day as utility and retail stocks made some ground.It beat the previous record close of 7778, which was recorded in January before a stock market wobble.Values sank across the world amid fears of a US-inspired trade war, that pushed the FTSE below the 7000-point barrier at one stage in March.Its fortunes have been largely governed by the pound since the Brexit vote - with weakness in the currency boosting the earnings of its dollar-earning constituents.Sterling has bled value in recent weeks versus the dollar, partly because of continued concern about the state...
British Columbia stands firm in Trans Mountain fight

British Columbia stands firm in Trans Mountain fight

Business
May 17 (UPI) -- The federal Canadian government is putting investor interests above provincial issues with its support for the Trans Mountain pipeline, British Columbia said. Federal Finance Minister Bill Morneau said Wednesday the government would offset the risks from provincial opposition to expand the Trans Mountain oil pipeline to British Columbia. Citing shareholder risk from that opposition, pipeline company Kinder Morgan in early April said it might back out of the plans to triple the pipeline's capacity. That opposition, the company added, has led to increased provincial tensions. British Columbia has already enacted legislation that could limit the flow of the heavier type of oil carried by Trans Mountain. Premier John Horgan said in response to Ottawa's position that he has a ...
East Coast train line to be put into public control

East Coast train line to be put into public control

Business
Media playback is unsupported on your device Rail services on the East Coast Main Line are being brought back under government control, following the failure of the current franchise.Operators Stagecoach and Virgin Trains will hand over control from 24 June.The Department for Transport will run the service until a new public-private partnership can be appointed in 2020.Transport Secretary Chris Grayling said it would smooth the transition to a new operator, but critics said it was evidence of private sector failure.Mr Grayling said the franchise had failed because Stagecoach and Virgin Trains had "got their bid wrong", overestimating the profitability of the line.It is the third time in a just over a decade that the government has called a hal...