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Funding Circle announces £300m flotation plan

Funding Circle announces £300m flotation plan

Business
Peer-to-peer lender Funding Circle has announced plans to raise £300m through a stock market flotation. Launched in 2010 by three former Oxford University students, Funding Circle works by matching lenders to tens of thousands of small business borrowers, currently in the UK, US, Germany and the Netherlands.Funding Circle said that the money raised will be used to bankroll expansion into new markets.The lender has now made loans to small and medium-sized enterprises (SMEs) in excess of £5bn since being established eight years ago, with £1bn in the first half of this year alone.The cash injection will also "enhance" the balance sheet and help "engender trust" in the group's business with investors, borrowers and regulators, the company said.Sky News unde...
Trump announces 'incredible' trade deal with Mexico

Trump announces 'incredible' trade deal with Mexico

Business
Media playback is unsupported on your device The US and Mexico have reached common ground on key trade terms as pressure mounts to complete renegotiation of the North American Free Trade Agreement.US President Donald Trump, a frequent critic of the existing deal, announced the apparent breakthrough on Monday.The final outcome remained in doubt as Canada, the third country in the treaty, has not signed off.The development follows about a year of talks triggered by Mr Trump, who had threatened to pull out of the pact.He demanded renegotiation of the 1994 trade agreement, which he blames for a decline in US manufacturing jobs, especially in the auto industry.In a televised appearance at the White House, Mr Trump said the US and Mexico had agreed ...
BREAKING: Cheryl announces split from Liam Payne days after her birthday

BREAKING: Cheryl announces split from Liam Payne days after her birthday

Entertainment
Cheryl has announced her split from Liam Payne.The star took to social media to break the news.Posting on the official Cheryl Twitter page she wrote: "We are sad to announce that we are going our separate ways. It's been a tough decision for us to make. We still have so much love for each other as a family. Bear is our world and we ask that you respect his privacy as we navigate our way through this together." GETTY SPLIT: Cheryl announces split from Liam Payne TWITTER/ CHERYL BREAK UP: Cheryl announces split from Liam Payne The news comes after Liam failed to publicly wish Cheryl a happy birthday yesterday.Cheryl shared a rare stunning s...
China retaliates immediately after US announces tariffs

China retaliates immediately after US announces tariffs

World
China said Friday it is retaliating against U.S. tariffs by imposing penalties on the same scale against the United States. China's commerce ministry announced the tariffs after President Donald Trump said earlier Friday the United will hit $ 50 billion of goods from China with a 25 percent tariff. The ministry did not detail specifically what goods China will penalize. China had warned the White House earlier Friday that it would respond “in the first instance” to protect its economy if Trump moved forward with any tariffs on $ 50 billion worth of Chinese goods. At the daily briefing here, Chinese Foreign Ministry spokesman Geng Shuang said, “If the U.S. side adopts unilateralism and protectionism and damages China’s interests, we will respond in the first i...
Rolls-Royce announces 4,600 job cuts

Rolls-Royce announces 4,600 job cuts

Business
Engineering firm Rolls-Royce is to cut 4,600 jobs over the next two years as part of a major reorganisation.Middle managers and back-office staff are to bear the brunt of the cuts, which are expected to hit its Derby base hard.The company is refocusing its business on civil aerospace, defence and power systems.About a third of the job cuts are expected to happen by the end of this year, Rolls-Royce said. The programme is expected to continue throughout 2019, with full implementation by mid-2020.Rolls-Royce said that the programme would cost £500m to carry out, including redundancies, but would save it £400m a year by the end of 2020.The firm also said it would continue to work on its problems with its Trent 1000 engin...