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Mark Carney: Bank of England to freeze 0.5% interest rate – video

The governor of the Bank of England says the Monetary Policy Committee voted to 8-1 to hold the interest rate at 0.5%. It also voted unanimously to maintain the stock of asset purchases at £375bn and re-affirmed its expectation that when rate increments occur they can be expected to be limited and gradual. However, he adds that the time for a rate rise was “drawing closer”

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Source: The Guardian Circular Economy RSS

Can big brands like Nestlé really play a role in halting land disputes?

Businesses need to start seeing communities as legitimate counterparts if we are to stand a chance of slowing down conflicts over land

Globally, over 70% of land lacks clear registration or is subject to ownership disputes. This phenomenon directly increases the vulnerability of the world’s poorest, as development agencies such as the World Bank now widely recognise.

Liberia’s emerging palm oil industry provides a case in point. Golden Veroleum, one of the sector’s largest foreign investors, stands accused of intimidating local landowners and trampling on communal property rights. In response, the firm says all its concessions comply with government rules, “thereby recognising the communities’ customary stake”.

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Source: The Guardian Circular Economy RSS

Super Thursday: Pound tumbles as Bank signals no rate rise imminent – live

4.08pm BST

Hope the closing figure in Athens isn’t ominous.

Athens ASE Index closes up 3.65% to finish at 666 as bank sell-off stops http://t.co/MJlkyCF6i2 pic.twitter.com/TYFzv8rmBX

3.50pm BST

Speaking of Greece, the Athens stock market has ended the day 3.65% higher.

The beleaguered banking sector moved higher for the first time since the market reopened on Monday, with the banking index rising 17.8% after falling 63% in the previous three days.

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Source: The Guardian Circular Economy RSS

BA owner IAG 'to sustain thousands of UK jobs' with order for 31 Airbus planes

Airline group is buying 11 long-haul jets and 20 short-haul aircraft, with a large proportion of the manufacturing to be done in Britain

British Airways’ owner International Airlines Group has placed an order for 31 Airbus aircraft valued at $5.2bn (£3.3bn) in a deal that the aircraft manufacturer said would sustain thousands of British jobs.

IAG is to buy 11 long-haul aircraft destined for BA’s Spanish sister airline, Iberia, as well as 20 short-haul planes to be used for fleet replacement across the group, which includes the low-cost carrier Vueling.

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Source: The Guardian Circular Economy RSS

Adidas puts golf division up for sale after under-par performance

German sportswear giant appoints investment bank to explore options for business, which includes TaylorMade, as sport falls out of favour

Adidas has put its golf division, which includes the world’s biggest golf brand, TaylorMade, up for sale as the popularity of the sport wanes.

The German sportswear giant has instructed an unnamed investment bank to explore options for the business, and announced on Thursday that golf sales fell 26% in the second quarter.

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Source: The Guardian Circular Economy RSS

Pfizer and Flynn Pharma accused of breaching competition laws

Competition and Markets Authority says companies abused position by raising prices of epilepsy drug by up to 2,600%

The competition watchdog has accused Pfizer and Flynn Pharma of breaching UK and European law by ramping up the cost of an epilepsy drug given to more than 50,000 British patients by as much as 2,600%.

The Competition and Markets Authority (CMA) said its provisional view was that the companies abused a dominant position by charging “excessive and unfair” prices for phenytoin sodium capsules.

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Source: The Guardian Circular Economy RSS

Super Thursday does not make things super clear

The simultaneous release of economic documents does little to improve market understanding of the UK economy

“Super Thursday” didn’t quite live up to the grand billing. The moment of the first hike in interest rates is getting closer, said the Bank of England governor, Mark Carney, but it is also clear that this song could remain the same for some time. Only one member of the monetary policy committee, not the expected two, voted for a rate hike. It is now highly unlikely that interest rates will rise this year.

Despite Carney’s many references to “robust momentum” in the economy, next May is viewed by financial markets as the most likely moment the Bank increases the cost of borrowing. The mildly dovish message was echoed in the currency markets: the pound fell 0.75%.

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Source: The Guardian Circular Economy RSS

What motivates CEOs to solve the world’s big social and environmental problems?

More sustainability leaders are beginning to understand, and respect, the relationship between people and the natural world, argues author Steve Schein

What turns a person into a sustainability crusader? Author and professor Steve Schein wanted to know, so he interviewed corporate sustainability executives – people who have dedicated their careers to doing business better – to find out what makes them tick.

Many of these executives, from global companies including Nike, Sprint, Mattel, AT&T, Coca-Cola, Hewlett-Packard, Starbucks and Unilever, traced their commitments back to their childhood, talking about their families and teachers. One consumer products company executive told Schein about how her parents composted; another recalled spending time in her grandfather’s apple orchard.

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Source: The Guardian Circular Economy RSS

America is on the wrong side of history

The US has become an obstacle to reshaping international laws for tax, debt and finance, writes Joseph Stiglitz

The Third International Conference on Financing for Development recently convened in Ethiopia’s capital, Addis Ababa. The conference came at a time when developing countries and emerging markets have demonstrated their ability to absorb huge amounts of money productively. Indeed, the tasks that these countries are undertaking – investing in infrastructure (roads, electricity, ports, and much else), building cities that will one day be home to billions, and moving toward a green economy – are truly enormous.

At the same time, there is no shortage of money waiting to be put to productive use. Just a few years ago, Ben Bernanke, then the chairman of the US Federal Reserve Board, talked about a global savings glut. And yet investment projects with high social returns were being starved of funds. That remains true today. The problem, then as now, is that the world’s financial markets, meant to intermediate efficiently between savings and investment opportunities, instead misallocate capital and create risk.

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Source: The Guardian Circular Economy RSS

Mosquitos are hungry this time of year – here are six ways to avoid their bites

These quick and easy tips help you to prevent the pesky blood-sucking insects from making a meal out of you

Those bites you got at last night’s barbeque? They’re not entirely random. Mosquitoes are attracted to a variety of chemical compounds, meaning your body type, activity level and even what you’re drinking have an effect on whether or not you’ll end the day with zero bites or five.

Besides carbon dioxide (CO2), which they can detect from more than 50 feet away, mosquitos are more attracted to active people because they release a greater amount of chemical signals through their perspiration than sedentary people do. Larger people also put out more of these signals, making them easier targets. Other major draws include body heat – heat sensors in mosquitoes’ mouths help them track sources of warm blood – and the odor of lactic acid excreted through skin. Additionally, recent research suggests the insects may prefer those who’ve had a couple of beers.

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Source: The Guardian Circular Economy RSS