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Royal Dutch Shell cuts ties with Alec over rightwing group's climate denial

Shell joins BP in corporate exodus from membership of the conservative, free-market lobbying group, which continues to deny the science of climate change

Royal Dutch Shell have announced they will end their membership of the far-right American Legislative Exchange Council (Alec) because of its continuing denial of the science of climate change.

In a statement released on Friday, a Shell spokesman said: “Alec advocates for specific economic growth initiatives, but its stance on climate change is clearly inconsistent with our own.”

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Source: The Guardian Circular Economy RSS

Steady US job figures could end the era of ultra-low interest rates

The Federal Reserve looks likely to decide that the time is right for a rate rise, almost seven years to the day since Lehman Brothers’ collapse

The symbolism would be perfect. When the Federal Reserve announces its decision on US interest rates on 17 September it will be almost seven years to the day since Lehman Brothers went bust. That was the moment when the financial crisis went nuclear, ushering in the era of ultra-low interest rates.

That era now looks to be coming to an end. The latest set of US unemployment figures were unspectacular, and would have been seen as modest in previous economic cycles. The increase in non-farm payrolls was 10,000 smaller than Wall Street had been expecting.

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Source: The Guardian Circular Economy RSS

Selfridges Christmas shop: it’s nice to be jolly any season … isn't it?

Baubles all over the world is the name of the game for some at the department store – you can see Yuletide in summer becoming an august institution

I’ll tell you what was flying off the shelves in the Selfridges Christmas shop, London, on 6 August 2015: pure white baubles that said “Selfridges 2015”. This is a big thing in the world of Christmas trees; it’s the modern equivalent of collecting spoons.

“Wherever I go, to any major city,” said Paula Byrne, “I always visit the Christmas store. My tree has got every continent on it.” She is accompanied by a full complement of menfolk: her father, Tommy Simon, 75, her husband John, 53, and her son Harrison, 15. They are uncomplaining, as they lurk between robins made of twigs and tiny owls in exquisitely soft, unknowable fabrics: her father has even bought some Christmas cards, as a gesture of goodwill. “We don’t just have a tree,” Paula, 49, adds, “we have mini-trees in the kids’ bedrooms.”

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Source: The Guardian Circular Economy RSS

Green light for Fed rate rise from US jobs report – live

5.12pm BST

#Greece "nearly ready" for agreement with lenders, says Dep PM Dragasakis after cabinet meeting. Talks continue in Athens tomorrow

5.07pm BST

Ratings agency DBRS has just confirmed Germany’s AAA rating, with a stable outlook.

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Source: The Guardian Circular Economy RSS

Exit from EU would damage Britain and Europe, says Axa chairman

Henri de Castries, head of influencial Bilderberg group, says Brexit would ‘diminish both the status and influence of the UK’

A British exit from the European Union would be severely damaging for both parties and like a divorce, the head of one of the biggest insurers and chairman of the influential Bilderberg group has warned.

Henri de Castries, chairman of Axa, said a so-called Brexit would “diminish both the status and influence of the UK” and leave the country as a “big Switzerland”.

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Source: The Guardian Circular Economy RSS

Morrisons to meet dairy farmers as milk price protests grow

Supermarket also threatens legal action as farmers blockade distribution centres in fight to be paid enough to cover production costs

Morrisons has agreed to meet dairy farmers to discuss the price it pays for milk after a week of protests that included a blockade of two of the supermarket’s distribution centres.

The chain has come under fire along with Asda, Aldi and Lidl for failing to guarantee farmers that they will be paid at least enough to cover the cost of production for milk.

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Source: The Guardian Circular Economy RSS

Axa boss Henri de Castries on coal: 'Do you really want to be the last investor?'

Head of giant insurer, and chair of the shadowy Bilderberg group, talks about selling off fossil fuel investments, China’s stock market crash and Brexit

Henri de Castries might just be the most powerful man in the world. He is chief executive and chairman of one of the world’s biggest insurers, Axa, and a member of France’s illustrious noble house of Castries. But De Castries is also chairman of the Bilderberg group, a collection of political and business leaders from Europe and North America that meets in private every year to debate “megatrends and major issues facing the world” – or which is secretly running the world if you are a conspiracy theorist.

With this in mind, De Castries’s penchant for making dramatic comparisons is worth taking seriously. The charismatic Axa boss compares investing in fossil fuels to investing in asbestos-related companies in the 50s or 60s, the rise of the internet to the advent of electricity at the end of the 19th century and, perhaps most alarmingly, the recent fall in Chinese share prices with the Wall Street Crash of 1929.

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Source: The Guardian Circular Economy RSS

Jaguar Land Rover cuts prices in China after falling sales hit Tata profits

Luxury carmaker suffers 7% drop in sales in vital China market partly due to slowdown in economy, but European sales surge 28%

Jaguar Land Rover is cutting prices in China after being hit by sliding sales in the world’s biggest car market.

Demand for the British-designed luxury sedans and four-wheel-drives has slumped during a slowdown in the Chinese economy and continued campaign against corruption that is deterring some Chinese from making extravagant purchases.

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Source: The Guardian Circular Economy RSS

Union files pay claim to Sports Direct over zero hours contracts

Unite wants the retailer to move thousands of zero-hours workers at its main warehouse in Shirebrook on to permanent contracts

Unions representing staff at Sports Direct’s main warehouse in Shirebrook have filed a pay claim asking the retailer to move thousands of zero-hours workers on to permanent contracts.

Unite, which represents just a handful of permanent staff at the site in Derbyshire despite having had a union recognition agreement in place for many years, said Sports Direct should pay staff the living wage of £7.85 an hour.

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Source: The Guardian Circular Economy RSS

Unemployment rate remains steady at 5.3% as US economy adds 215,000 jobs

As the US economy continues to add jobs, the Federal Reserve is expected to raise interest rates for the first time in almost a decade come September

The US economy added 215,000 jobs in July, while the unemployment rate remained steady at 5.3%, meeting expectations. The numbers released by the Department of Labor on Friday heighten expectations that the Federal Reserve will raise interest rates as soon as September.

Economists expected US employment to have grown by 225,000 jobs last month, and for the unemployment rate to hold at a seven-year low of 5.3%. So far this year, job gains have averaged 208,000 a month.

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Source: The Guardian Circular Economy RSS