Published:  12:01 AM, 10 July 2019

Worldwide waffling(10.07.2019)

Worldwide waffling(10.07.2019)

China's national women's soccer team just got a big boost from online payments app Alipay. The Alibaba-affiliated company is taking the lead on a 1 billion yuan commitment to support Chinese women's soccer over the next decade. The foundations of Alibaba co-founder Jack Ma and executive vice chairman Joe Tsai are also taking part in the pledge. It is the biggest investment in women's soccer in China ever, according to Alipay. Alipay wants to bring "technology, funds and resources to better support the development of women's soccer in China," a spokesman for the company said.

The kind of radical move made by Deutsche Bank AG Chief Executive Officer Christian Sewing has been on the table for years in Frankfurt. But when it came to making a decision, the bank's stewards preferred more incremental steps -- until now. With a retreat that will see the lender exit its equities business and cut its 91,000-person work force by a fifth, Sewing is ending a trading foray that lasted for three decades and ultimately only led to losses. The plan "is a necessary and courageous step for Deutsche Bank," said Michael Huenseler, a fund manager at Assenagon, which owns the bank's stock.

British Airways is facing a £183m fine following the theft of customer data in 2018. The airline said on Monday it was notified that the UK information commissioner planned to impose the penalty, which amounts to 1.5 per cent of British Airways' worldwide turnover in 2017. BA disclosed in September 2018 that hackers had stolen data relating to about 380,000 customers from its website and mobile app during a two-week period beginning on August 21, at the height of the summer holiday season.

We are 115 days away from a potential no-deal Brexit. That leaves us with just in excess of 16 weeks to finish preparing, as best we can, for the serious disruption of the UK deciding to become a third country overnight after 46 years of EU membership. The chances of a disorderly Brexit have never been higher and the Government now considers the risk of this outcome on October 31st as "significant". Therefore, on Tuesday I will bring to Cabinet a detailed update on our contingency planning across all Government departments and State agencies.

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