Global Financial Shake-Up: From Labour Practices to Tax Cuts

These are the top stories from the Financial Times, covering various financial and political updates. Highlights include a US senator urging an investigation into Shein's labor practices, Rishi Sunak's tax cut pledges, Alison Rose's new role at Charterhouse, and Invesco's closure of its UK equities team.

Reuters | Updated: 12-06-2024 07:32 IST | Created: 12-06-2024 07:32 IST
Global Financial Shake-Up: From Labour Practices to Tax Cuts
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The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines

- US senator urges UK to investigate Shein's labour practices ahead of IPO - Rishi Sunak pledges 17 bln pounds in tax cuts to revive Tory election bid

- Ex-NatWest boss Alison Rose joins UK buyout firm Charterhouse - Invesco shutters UK equities team as customer outflows hit wider sector

Overview - Marco Rubio, the top Republican on the U.S. Senate intelligence committee, has urged the UK government to investigate whether Shein, the Chinese fashion group planning to list in London, has used forced labour in its operations.

- British Prime Minister Rishi Sunak has pledged more than 17 billion pounds ($21.65 billion) in tax cuts in a bid to revive his stalled election campaign, but his Conservative manifesto was attacked by some on the Tory right for being too timid. - British bank NatWest's former chief executive Alison Rose has joined private equity firm Charterhouse in her first role since leaving the UK high-street lender following the "debanking" of Nigel Farage last year.

- American investment manager Invesco is shuttering its standalone UK equities team, formerly led by stockpicker Neil Woodford, and merging it with its European division amid an industry-wide drop in interest for British stocks. ($1 = 0.7851 pounds) (Compiled by Bengaluru newsroom)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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