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Friday newspaper round-up: Boris Johnson, Labour, Burberry, German recession

Fri 15 November 2019 07:03 | A A A

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(Sharecast News) - Boris Johnson has announced another election package costing hundreds of millions of pounds for neglected towns, some of which will be spent in marginal constituencies. Concentrating on rundown high streets, the closures of pubs and post offices and the restoration of rail links, the prime minister has claimed that the measures will build upon the £3.6bn towns fund first announced in July. - Guardian

Radical Labour plans to pay workers as much as £500 each in dividends, by forcing every large company in Britain to give staff a 10% stake, should be scaled back to focus on profits generated in the UK market, a key architect of the policy has said. In response to criticisms of the landmark proposal by the shadow chancellor, John McDonnell, the leftwing Common Wealth thinktank said changing the policy to focus on profits made in Britain, rather than globally, would help to address concerns that firms would relocate to avoid the rules. - Guardian.

Some of the world's biggest consumer companies have revealed the cost of doing business in Hong Kong, which is beset by anti-government protests, after Burberry led a series of warnings. The fashion retailer said yesterday that it had taken a £14m writedown on the value of its shops in the territory and that it was negotiating with landlords about rent reductions over fears that the escalating levels of unrest will not end soon. - The Times

Germany has escaped recession but remains mired in industrial slump, leaving the country acutely vulnerable to China's intractable woes and any further slowdown in global trade. While Germany's manufacturing sector has begun to stabilize after two years of contraction, this may not be enough to stop the gloom spreading to services and consumers over coming months. - The Telegraph.

Concern about sexual harassment in the workplace is still regarded by some City firms as "political correctness gone mad" because of an "unhealthy culture" that persists in boardrooms, a senior regulator has warned. Jonathan Davidson, the Financial Conduct Authority's director of supervision, said senior managers who held such views were not "fit and proper" and could face sanctions. - The Times

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