North Korean ICBM test looking more likely, says South

North Korea may be preparing to test-launch an upgraded prototype of an intercontinental ballistic missile (ICBM), South Korea has warned. In his new year’s speech the North Korean leader, Kim Jong-un, boasted a test launch would happen soon and state media has said a launch could come at any time. That test launch could coincide with the inauguration of Donald Trump as president on Friday, South Korean media said. A road-hauled ICBM, which could be kept hidden or moving until it was fired, would make the job of tracking and stopping a North Korean missile launch much more difficult. In 2016 North Korea conducted a test of an ICBM engine made up of a cluster of smaller rockets.

January 19, 2017 03:44 UTC

Bonuses slashed at Deutsche Bank

More than 20,000 staff at Deutsche Bank have been told that their bonuses will be drastically reduced in the wake of its $7.2 billion settlement with American regulators over the mis-selling of toxic mortgage-backed debt before the financial crisis. Cutting bonuses will cause pain for London-based staff of Deutsche. It employs more than 7,000 people in the UK, the home for much of its investment banking business that, in its heyday, was a rival for the likes of Goldman Sachs and JP Morgan. In a company-wide memo, Deutsche Bank said that it had decided to “substantially limit” the bonuses paid to about a quarter of its 100,000-strong workforce as the struggling lender tries to rebuild its finances after a torrid 12 months. The management board…

January 19, 2017 00:06 UTC

Brexit won’t give us control of immigration

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January 19, 2017 00:06 UTC

Obama’s message of hope ended up as hype

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January 19, 2017 00:06 UTC

Toss crucial to England’s chances of hitting back

Jos Buttler described Eoin Morgan as a “revolutionary player for England” before the second game of the three-match one-day series against India, but the most important contribution the captain makes today may prove to be something as plain as winning the toss. Morgan, who transformed batting with his improvisations at the turn of the decade, suggested after losing on Sunday that England are probably a better side chasing a target. Predictions of heavy dew this evening in Cuttack make batting second even more attractive and perhaps even critical. The groundsman at the Barabati Stadium estimates that dew will start to settle at about 5.30pm local time (noon GMT). Transposing this onto the match timetable, the turf may be moist even before the second innings begins.

January 19, 2017 00:06 UTC



Cricket pioneer dies aged 77

Champion’s innings: Baroness Heyhoe Flint, who captained the England women’s cricket team and was vice-president of Wolverhampton Wanderers, has died at 77. She received an OBE in 2008 Fiona Hanson/Press AssociationRachael Heyhoe Flint, the pioneering former England cricket captain, has died at the age of 77 after a short illness. She captained England between 1966 and 1978, played in the first ever women’s match at Lord’s in 1976 against Australia. She was a driving force behind the vote at the Marylebone Cricket Club (MCC) in 1998 that finally allowed women to be admitted to the club as members, and in 2004 became the first woman to be elected to the MCC committee. Her crowning glory came at the 1973 Women’s World Cup when she led England to victory in the inaugural tournament, having been…

January 19, 2017 00:06 UTC

America’s might lies in the power to forgive

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January 19, 2017 00:06 UTC

Someone should get sums right

No wonder John Fallon sold the FT in July 2015 to focus on the “huge opportunity” in education. You can see what the Pearson boss was on about: another 29 per cent off the shares to 573p and a trading update so full of jargon that you pity the students coughing up $200 for one of the company’s textbooks. Not that the word “textbook” gets a mention, of course, despite the print study aids being at the heart of the problem. No, they get wrapped up with the “North American higher education courseware business”, an activity that’s just been through “further unprecedented decline”. Well, basically, fewer students than Mr Fallon was banking on enrolled and the ones that did sensibly opted to rent…

January 19, 2017 00:06 UTC

Make Merret

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January 19, 2017 00:06 UTC

Burberry’s best of British is back in vogue

The Tale of Thomas Burberry advert, featuring Lily James, was hailed a huge success by the newly confident fashion sellerThe weak pound that has lured shoppers from all over the world to London has paid off handsomely for Burberry. The luxury fashion house announced strong third-quarter figures yesterday, with comparable sales up by 40 per cent in the UK, what it called an “exceptional performance”. Even a price increase in November, to take account of sterling’s slide after the Brexit vote, failed to dampen demand, with domestic buyers’ appetite for Burberry’s buckle and saddle bags, monogrammed leather wallets and trench coats proving as strong as that of tourists. The bumper British figures helped Burberry’s retail revenue to hit £735 million in the three months to the end of December, up 3 per cent on a like-for-like basis and ahead of analysts’ expectations. The company,…

January 19, 2017 00:06 UTC

Economists are still in Wetherspoon boss’s sights

The chairman of JD Wetherspoon has accused economists and politicians of “catastrophically poor judgment” after their “apocalyptic predictions” of fallout from the European Union referendum proved wide of the mark. Tim Martin, one of the Brexit campaign’s most vocal supporters, claimed that the majority had “consistently misunderstood the implications of the euro, the exchange rate mechanism and the implications of leaving the EU over a period of about 30 years”. Mr Martin, who has described Brexit as “a fantastic plus for pubs”, insisted that the EU “lacks any genuine commitment to free trade, other than to countries which are in, or on the borders of, the EU”. He added: “Unless these lessons are learnt and acknowledged by economists, their historic mistakes will be repeated.”He…

January 19, 2017 00:06 UTC

Most voters back PM’s plan . . . but doubt it will work

The public overwhelmingly supports Theresa May’s plan for leaving the European Union but doubts that she will ultimately get what she wants. A YouGov poll for The Times found voters to be highly positive about the ideas in the prime minister’s speech on Tuesday, endorsing her plan for Britain by a margin of more than two to one. Some 55 per cent said it would be good for Britain, 19 per cent said it would not while 26 per cent did not know. Voters backed Mrs May’s threat to walk away from the negotiating table if the UK did not get the kind of deal it was seeking, paving the way for a disorderly and potentially costly Brexit. Some 48 per cent agreed that “no…

January 19, 2017 00:06 UTC

British satellite will gaze into the winds to sharpen forecasts

Aeolus will be the first satellite to examine the strength and speed of the wind sweeping around our planetA British-built satellite is expected to revolutionise the way that forecasters predict the weather by studying wind patterns from space. The satellite, named after Aeolus, the “keeper of the winds” in Greek mythology, will be the first to examine the strength and speed of the wind sweeping around our planet. It is hoped this will help meteorologists to make more reliable forecasts by using a specially developed laser instrument, about the same weight as a classic Mini car, to probe the 30km of atmosphere above the earth’s surface. Meteorologists currently use a variety of methods to measure wind patterns, from whirling anemometers and weather balloons to satellites that study cloud movement or the choppiness of the sea. Aeolus’s laser works in a similar way to…

January 19, 2017 00:06 UTC

Trade policy and leaving the single market

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January 19, 2017 00:06 UTC

I just want to sleep, admits British sailor chasing epic ocean victory

It had taken him 226 days. Today, Alex Thomson should arrive on the west coast of France at the end of his own epic circumnavigation on Hugo Boss, a mere 74 days after leaving port. The Queen knighted Chichester for his endeavours, using the same sword that Elizabeth I had employed to knight Sir Francis Drake. After almost 25,000 miles at sea, Thomson was just looking forward to a hamburger, a hug from his wife and two children and a long, long sleep. He has stayed awake for the past two days in an attempt to…

January 19, 2017 00:06 UTC



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