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News Summary (10th February – 16th February)

UK News: Killer weather sweeps UK

 

Two people have died as strong winds battered England, adding to the problems already caused by the flooding in southern areas. A woman was killed in central London after her car was crushed by falling masonry, while a man died after a freak wave hit a cruise ship in the British Channel.

 

Diners also had to be rescued by the Army and emergency services after surging floodwater trapped them inside a beachfront restaurant in Hampshire.

 

 

UK News: Money is ‘no object’ for PM

 

The prime minister has said that money is no object when it comes to flood relief efforts across the UK. Mr Cameron canceled his scheduled trip to the Middle East next week, saying that the most important thing to do is dealing with the flooding.

 

 

UK News: From Russia with Love

 

Lizzy Yarnold became the first British athlete to win gold at the Winter Olympics in Sochi. She dominated the women’s skeleton in which she set a track record time. This came after snowboarder Jenny Jones won team GB’s first ever medal on the snow with a bronze in the slopestyle event.

 

 

UK News: Woman and unborn child die in crash

 

A pregnant woman and her unborn child have died following a crash on the A465 in south Wales. The woman, aged 20, died in a hospital in Abergavenny following the incident.

 

 

World News: UN sorry over Syria talks

 

A UN editor has apologised to the people of Syria over the lack of progress made in peace talks between the government and opposition in Geneva. No date has yet been set for a third round of talks.

 

 

World News: Turkish MPs brawl but reach reform

 

After a brawl which left one opposition MP with a broken nose, Turkish MPs approved controversial plans to reform the country’s top judicial body.

 

 

World News: Protests mark anniversary of Bahrain uprising

 

A policeman has died and another has been injured following a bomb blast during protests. Three policemen were injured by another explosion as protests marked the third anniversary of the country’s uprising.

 

 

World News: Snow sweeps across US

 

A huge snow storm is blasting the North East of America, while the cold weather continues to cause problems in the South. The weather system has been blamed for at least 18 deaths as around 750,000 homes and businesses still lack power.

 

 

Business: Barclays’ tactics come under fire

 

Barclays has been criticised for increasing its bonus pool by 10 per cent at a time when it is shedding thousands of jobs and despite reporting a drop in annual pre-tax profit of 32 per cent.

 

 

Business: BNP Paribus sets aside earnings for expected fines

 

BNP Paribus has set aside $1.1 billion for potential fines from its quarterly earnings after the French bank said that it found “a significant volume” of transactions over the past few years which may have broken the rules under American sanctions-policy.

 

 

Business: Car-making in Aus shuts down

 

A political row has broken out in Australia after Toyota decided to shut its operations in the country from 2017; thus ending Australian car-making. While the government blamed carworker’s demands, Toyota cited the strength of the Australian dollar.

 

 

Business: Nestlé in new skin care role

 

The Swiss food giant Nestlé sold 8 of the 29 per cent stake it had in L’Oreal back to the French cosmetics company. As part of the deal Nestlé gains full control of Galderma, which makes treatments for skin conditions, which is set to become the core of a new subsidiary: Nestlé Skin Health.

 

 

Finance: Another fall for Bitcoin

 

The reputation of Bitcoin as a viable global and virtual currency was struck another blow after an exchange base in Tokyo, Mt. Gox, halted withdrawals. Mt. Gox stated that a glitch had been noticed  which suggested someone had tried to hack into its system and make transactions disappear.

 

 

Finance: Bank of England drop interest/unemployment rate connection

 

The governor of the Bank of England, Mark Carney, has dumped the forward guidance connecting decisions on interest rates to the country’s unemployment rate. The bank is set to consider a broader range of indicators in its future guidance and is not set to increase interest rates for at least a year.

 

 

On a Lighter (yet business-y!) Note: Dumb Starbucks a dumb idea

 

Starbucks failed to see the funny side after a comedian opened a new cafe, called Dumb Starbucks. The Los Angeles cafe mimicked the Starbucks brand in close detail, varying only in how it affixed the word ‘dumb’ in front of all products, such as a ‘dumb cappuccino’.

It was promptly shut down, not on the grounds of copyright infringement, but because it didn’t have a permit to sell drinks.