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5 Things You Need To Know, Today, on Monday 14th October 2019
5. Facebook’s Libra cryptocurrency must not go ahead until the company proves it is safe and secure, according to a report by the world biggest economies.
The report by the G7 group of nations warns cryptocurrencies like Libra pose a risk to the global financial system, this comes days after Mastercard and Visa pulled out of the Libra project.
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4. Political uncertainty in Britain is forcing finance directors to cut costs and hold off hiring.
The audit of 91 chief financial officers of some of Britain’s largest companies showed that a renewed focus on cost control will be a strong priority for six in 10 of respondents over the next year, the highest level for 10 years.
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3. China’s exports fell at a faster pace in September while imports contracted for a fifth straight month, pointing to further weakness in the economy and underlining the need for more stimulus as the China-U.S. trade war drags on.
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2. Labour’s nationalisation plans would cost at least £196bn, according to the Confederation of British Industry.
The employers’ group said the up-front cost of taking control of the water and energy utilities, train firms and Royal Mail was equivalent to all income tax paid by UK citizens in a year.
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1. The UK is willing to make concessions to its plans for the Northern Ireland border after Brexit but “a big gap” remains over customs arrangements, according to the EU.
Meanwhile, the UK and EU negotiating teams are due to meet again in Brussels today, as efforts continue to reach a deal before a summit on Thursday and Friday.
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