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Job support scheme puts close to one million roles at risk, Labour says

Job support scheme puts close to one million roles at risk, Labour says

Business
The expansion of the government's job support scheme will put close to one million roles at risk and is like throwing whole sections of the economy on the "scrapheap", Labour has said.The shadow business secretary, Ed Miliband, also said fewer than one in 15 jobs in shut-down businesses stand to benefit from the move. Mr Miliband added that workers in sectors such as weddings, cinemas and events and conferences, which are not "legally closed" but have been forced to "shut in all but name", will not enjoy protections from the programme.The government has announced employees off work for more than seven consecutive days because their workplace was legally required to close due to local or national restrictions will get two-thirds of their salaries covered, up to £2,100 per month.The scheme w
Chancellor defends Eat Out To Help Out scheme in face of UK’s second coronavirus wave

Chancellor defends Eat Out To Help Out scheme in face of UK’s second coronavirus wave

Business
Chancellor Rishi Sunak has defended encouraging people back to pubs and restaurants over the summer, prior to the government being forced to take fresh action to limit the spread of coronavirus.Mr Sunak's "Eat Out To Help Out" scheme handed Britons discounted meals during August, as ministers attempted to restart the economy after the UK's lockdown. Pubs, bars and restaurants - along with the rest of the hospitality industry - have since been handed a 10pm curfew as the government attempts to deal with a second wave of COVID-19 infections.Live coverage of the latest coronavirus news and updates Image: Rishi Sunak defended his Eat Out To Help Out scheme At the weekend, Prime Minister Boris Johnson hailed the meals discount programme fo...
Rishi Sunak defends emergency jobs scheme

Rishi Sunak defends emergency jobs scheme

Business
Media playback is unsupported on your device Chancellor Rishi Sunak has said it is "impossible" to predict how many jobs the government's new wage subsidy scheme will save. The scheme, set to replace furlough, will see the government top up the pay of people unable to work full time.It aims to stop mass job cuts after the government introduced new measures to tackle a rise in coronavirus cases.Mr Sunak said he hoped the plan would "benefit large numbers", but he could not say what job is "viable or not".Under the Job Support Scheme, if bosses bring back workers part time, the government will help top up their wages with employers to at least three-quarters of their full-time pay. It will begin on 1 November and last for six months. How will th...
Covid-19: Sunak set to unveil emergency jobs scheme

Covid-19: Sunak set to unveil emergency jobs scheme

Business
Chancellor Rishi Sunak will later unveil a plan aimed at minimising further unemployment as stricter Covid-19 restrictions come into force.The new measures are expected to replace the furlough scheme, which is set to expire next month.In July, around five million workers were still receiving some or all of their income through the scheme, many in the hospitality sector.Pubs and restaurants have warned they will be hit hard by new restrictions.From Thursday, hospitality venues in England will have to shut at 22:00 BST as the government tries to control the spread of the coronavirus. Scotland is introducing similar measures, with pubs and restaurants having to close at 22:00 BST from Friday, while in Wales restrictions are limited to stopping alcohol sales ...
FinCEN Files: HSBC moved Ponzi scheme millions despite warning

FinCEN Files: HSBC moved Ponzi scheme millions despite warning

World
HSBC allowed fraudsters to transfer millions of dollars around the world even after it had learned of their scam, leaked secret files show.Britain's biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014.Its role in the $ 80m (£62m) fraud is detailed in a leak of documents - banks' "suspicious activity reports" - that have been called the FinCEN Files.HSBC says it has always met its legal duties on reporting such activity.The files show the investment scam, known as a Ponzi scheme, started soon after the bank was fined $ 1.9bn (£1.4bn) in the US over money laundering. It had promised to clamp down on these sorts of practices.Lawyers for duped investors say the bank should have acted sooner to close the fraudste