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Tuesday newspaper round-up: TSB, Trump, Virgin Atlantic, Lendy

Tue 03 December 2019 07:38 | A A A

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(Sharecast News) - Bosses at TSB will have their bonuses docked for failing to meet gender balance targets intended to raise the number of women in senior roles by 2020. It is the latest blow for the leadership team at the bank, which is cutting jobs and closing branches as it seeks to drive down costs and move on from its IT meltdown last year. - Guardian

The UK's six richest people control as much wealth as the poorest 13 million, according to research into the gaping inequality in British society. Six billionaires at the top of the UK wealth league have a combined fortune of £39.4bn, which, according to analysis by the Equality Trust, is roughly equal to the assets of 13.2 million Britons. - Guardian

The Trump administration has threatened to slap 100pc tariffs on up to $2.4bn (£1.9bn) of French goods in retaliation to the country's digital tax against US tech companies. The US trade representative (USTR) said on Monday night, after completing an investigation, it found the French digital services tax unfairly discriminated against American technology companies such as Google, Apple, Facebook and Amazon. - Telegraph

Virgin Atlantic is set to remain in British hands after Sir Richard Branson abandoned plans to sell a significant stake in the airline to Air France-KLM. The billionaire businessman said yesterday that he intended to retain his 51 per cent stake instead of selling 31 per cent of the airline - set up 35 years ago as a rival to British Airways - to the Franco-Dutch group under a £220 million deal negotiated two years ago. - The Times

People who invested in businesses via a failed peer-to-peer platform have discovered their money was not ring-fenced as promised, raising new questions for the City regulator. Lendy investors, who are owed more than £150 million, expressed shock and anger after administrators told them to brace for a much bigger hit than expected because a significant proportion of money they believe they are owed has been earmarked to pay off insolvency practitioners and creditors. - The Times

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