Financial news

• BT Openreach's new boss has caught a hot potato

  11-01-2016 22:19 via telegraph.feedsportal.com
  
  Even without the uncertainty around Ofcom's decision on the future of Openreach, Selley will have a hectic few months ahead getting to grips with the business
  
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• Donald Trump is wrong: America is no oligarchy

  11-01-2016 21:34 via telegraph.feedsportal.com
  
  Many people who don't make much money today can rationally hope to end up in the top 10pc or even top 1pc at some point in their careers
  
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• Collapsed Caparo faces pension fund black hole

  11-01-2016 21:07 via telegraph.feedsportal.com
  
  Documents from Lord Paul's failed company reveal scale of liabilites at the business, which put hundreds of jobs at risk when it collapsed
  
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• The Guardian view on women’s pension changes: a disaster in waiting | Editorial

  11-01-2016 20:57
  
  The government is bringing equity to state pension ages, but not fairnessNo one at 40 puts much thought or planning into the distant day that they will be 60. In 1995, women in their 40s learned that, sometime in the next century, their pensionable age would rise. From 2010, it would drift upwards until by 2020, women, like men, would be 65 before they were eligible. The oldest in the group, those born early in 1950, would see their pension date slip by just a couple of months; those born after
  
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• RBS cries 'sell everything' as deflationary crisis nears

  11-01-2016 20:54 via telegraph.feedsportal.com
  
  Clients told to seek safety of Bunds and Treasuries. 'This is about return of capital, not return on capital. In a crowded hall, exit doors are small'
  
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• Big Pharma's big gamble may prompt a big headache

  11-01-2016 20:36
  
  Shire’s $32bn takeover of Baxalta rests on planned tax savings and the premise that drug prices will stay highCynics used to say the most important employees at pharmaceutical companies were not the scientists, developing novel medicines, but the lawyers, the folk defending the drug patents in court. These days, it seems, the top dogs are tax advisers.Irish-domiciled Shire’s $32bn (£22bn) takeover of haematology specialist Baxalta of the US will go ahead on rejigged terms becau
  
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• Crude reckoning: what will oil price slump mean for the global economy?

  11-01-2016 20:04 via telegraph.feedsportal.com
  
  Oil hits new low of less than $32 per barrel and could plunge further, increasing pressure on US and Middle East producers
  
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• Sky told to ban exit penalties in January for customers affected by price increases

  11-01-2016 19:34 via telegraph.feedsportal.com
  
  Telecoms watchdog tells Sky to suspend contract termination charges after it increases charges
  
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• Co-op Bank to pay current account customers £4 a month

  11-01-2016 19:34 via telegraph.feedsportal.com
  
  The Co-operative Bank is the latest to pay customers to have a current account, but most could get a better deal elsewhere
  
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• Alert: Santander 123 will cost £5 a month from today - is it worth it?

  11-01-2016 19:31 via telegraph.feedsportal.com
  
  The price of the popular 123 current account has more than doubled. We examine who should pay the £60 annual cost
  
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• Questor share tip: Brewin Dolphin remains bid target after investment chief exits

  11-01-2016 19:20 via telegraph.feedsportal.com
  
  The wealth manager could attract bids at a 50pc premium to the current share price as turnaround continues, says Questor
  
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• Questor share tip: Unite to increase dividends as properties break £2bn barrier

  11-01-2016 19:07 via telegraph.feedsportal.com
  
  The student accomodation provider is benefitting from increasing UK student numbers and investor demand for its assets, says Questor.
  
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• Travelodge to begin £140m spree of hotel openings with branch in Weston-super-Mare

  11-01-2016 18:35 via telegraph.feedsportal.com
  
  Travelodge will open 19 branches this year as several private equity-backed firms have their eye on buying the hotel chain
  
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• Shares in BAE Systems hit 10-month high on rating upgrade

  11-01-2016 18:33 via telegraph.feedsportal.com
  
  BAE Systems enjoys its second rating upgrade in six days, while FTSE ends the day down after China guides the yuan higher.
  
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• Belgium's 'sweetheart' tax deals are illegal, says EU

  11-01-2016 18:00 via telegraph.feedsportal.com
  
  Commission calls for clawing back of €700m from 35 mainly European companies benefiting from tax breaks
  
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• WeWork: they’ve transformed the office, now it’s time for your home

  11-01-2016 17:25
  
  WeWork has reinvented the dull office as a ‘platform for creators’. Now the $10bn company plans to do the same to our houses. Carole Cadwalladr meets the two founders to hear how they plan to shape our futureI meet Miguel McKelvey by the juice stall on the seventh floor of a glass-and-steel office building in Moorgate, central London. It’s in a large common area with a polished floor, oversized light fittings and views of the Gherkin. All around us young people are lounging on
  
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• Ex-Gaucho MD raises stakes with restaurant expansion plan

  11-01-2016 17:00 via telegraph.feedsportal.com
  
  Martin Williams opened his second M Restaurant branch last month and has plans to open a third within the next year
  
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• Tougher sentencing powers needed to deter data thieves, says ICO

  11-01-2016 16:51
  
  Call from information commissioner Christopher Graham follows case of a woman who stole 28,000 driver records and received only a £1,000 fineThe head of the government’s privacy watchdog has called for stronger sentencing powers for people convicted of stealing personal data, after a woman who sold 28,000 pieces of sensitive driver data was fined just £1,000.In the wake of the case information commissioner Christopher Graham said the courts should be given tougher sanctions to
  
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• Bowie Bonds: How David Bowie became a pioneer in the worlds of finance and the internet

  11-01-2016 16:39 via telegraph.feedsportal.com
  
  Not content with breaking ground in the music and fashion worlds, David Bowie was also a financial innovator
  
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• Savings rates hit 'record low'

  11-01-2016 16:18
  
  Interest rates, as measured by the average easy-access cash Isa rate, are just slightly above 1%, says MoneyfactsSavings rates have hit a record low, according to data published on Monday, just as thousands of people are expected to start looking for a new home for their nest-egg cash when the first pensioner bonds mature on Friday. The National Savings & Investments pensioner bonds, known officially as 65+ guaranteed growth bonds, went on sale in January 2015 and were a huge success, with 4
  
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• These are the big bets against the market you should be making right now

  11-01-2016 16:02 via telegraph.feedsportal.com
  
  Four shorts (and one long) that could create impressive profits for investors
  
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• Online retailer Koovs woos India's middle classes

  11-01-2016 16:02 via telegraph.feedsportal.com
  
  London-listed Asos 'copy-cat' has seen sales surge by 210pc on the back of a Bollywood-inspired marketing campaign
  
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• Belgian 'sweetheart' tax deals are illegal, says EU

  11-01-2016 15:00 via telegraph.feedsportal.com
  
  Commission calls for clawing back of €700m from 35 mainly European companies benefiting from tax breaks
  
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• Rolls-Royce car sales plunge in China as economic slowdown and anti-bribery rules bite

  11-01-2016 14:44 via telegraph.feedsportal.com
  
  Chinese sales crash 54pc amid slowdown - but elsewhere the picture is more rosy
  
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• House of Fraser joins ranks of Christmas retail winners

  11-01-2016 14:26 via telegraph.feedsportal.com
  
  Department store chain posts rise in sales, buoyed by online orders
  
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• 'We've saved credit card points for an iPad with NatWest and RBS - but they've shut the scheme'

  11-01-2016 14:16 via telegraph.feedsportal.com
  
  A banking group's points' scheme is cancelled just as a husband and wife were about to pool their points redeem them
  
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• British police paid telecoms firms £6.7m for surveillance data last year

  11-01-2016 14:14 via telegraph.feedsportal.com
  
  UK forces pay phone companies - including BT, Vodafone, EE and Virgin Media - millions of pounds a year to share data, official figures show
  
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• Shire to combine with Baxalta in £22bn deal

  11-01-2016 13:53 via telegraph.feedsportal.com
  
  The merger of the two pharmaceutical giants will create a world leader in rare diseases
  
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• Shire to buy Baxalta in £22bn deal

  11-01-2016 13:53 via telegraph.feedsportal.com
  
  The combination of the two pharmaceutical giants will create a world leader in rare diseases
  
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• Jeff Howell: cavity wall crisis continues

  11-01-2016 13:40 via telegraph.feedsportal.com
  
  Despite cavity wall insulation my walls are still damp
  
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• Fine diners fatten sales at Wolseley owner

  11-01-2016 13:16 via telegraph.feedsportal.com
  
  However Corbin & King's net debt widened as the group moved into hotels
  
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• Scandi chic is out - it's all about farmhouse kitchens in 2016

  11-01-2016 13:10 via telegraph.feedsportal.com
  
  Timber beams, bashed brass and even baking pantries: bespoke cabinet making replaces white gloss units
  
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• David Bowie, musical legend behind Ziggy Stardust, dies at 69 from cancer

  11-01-2016 13:00
  
  LONDON (Reuters) - Legendary British rock star David Bowie, who framed hits such as "Ziggy Stardust" with daringly androgynous displays of sexuality and glittering costumes, has died of cancer aged 69.
  
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• Xchanging backs CSC bid as hopes fade for another takeover offer

  11-01-2016 12:52 via telegraph.feedsportal.com
  
  Outsourcing firm says rival bidder Ebix's intentions are still unclear
  
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• Britain uses Brimstone missiles for first time in Syria

  11-01-2016 12:49
  
  LONDON (Reuters) - Britain carried out several air strikes against Islamic State (IS) militants in Syria on Sunday, deploying its Brimstone missiles for the first time there, a spokeswoman for Prime Minister David Cameron said on Monday.
  
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• ReNeuron bags £2.1m grant from Innovate UK for stem cell treatment

  11-01-2016 12:47 via telegraph.feedsportal.com
  
  The Aim-listed biotech is developing a range of ground-breaking therapies that could help the body heal itself
  
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• Taylor Wimpey warns over plan to build discounted homes for first-time buyers

  11-01-2016 12:40
  
  Housebuilder questions how proposed 20% saving on more than 200,000 properties would be implemented and its impact on affordable housing sectorTaylor Wimpey has warned that the government’s plan to build more than 200,000 discounted houses for first-time buyers could be in doubt because of confusion about how the scheme would work.Pete Redfern, chief executive of Britain’s third-biggest housebuilder, said the starter homes programme, outlined in the chancellor’s autumn statemen
  
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• Number of first-time housebuyers falls despite government help

  11-01-2016 12:39 via telegraph.feedsportal.com
  
  Halifax estimates that 310,000 became first-time buyers last year, and say the average deposit has risen to £33,000
  
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• As Anglicans meet, spiritual leader says schism would be failure

  11-01-2016 12:28
  
  LONDON (Reuters) - A schism in the worldwide Anglican Communion over homosexual rights and women clerics would be a failure but not a disaster, the spiritual head of Anglicans said on Monday at the start of a high-stakes meeting between conservative and liberal primates.
  
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• UK-wide carbon tax would have 'little impact' on consumers, study finds

  11-01-2016 12:21
  
  BusinessGreen: LSE study predicts modest carbon tax of £20 a tonne would increase consumer prices by just 0.9%, while driving emission cutsA “modest” uniform carbon tax of £20 a tonne would have a negligible impact on consumer prices, according to a new study that attempts to make the case for wider adoption of carbon pricing policies.The study from the Grantham Research Institute on Climate Change and the Environment and the ESRC Centre for Climate Change Economics and P
  
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• Fears of fresh steel jobs losses as crisis continues to hit industry

  11-01-2016 12:18 via telegraph.feedsportal.com
  
  Hundreds of steel workers at Port Talbot plant in Wales could lose their jobs
  
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• Rockhopper shares bounce after Falklands oil discovery

  11-01-2016 11:49 via telegraph.feedsportal.com
  
  Oil and gas explorer will soon own a bigger slice of the field
  
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• Clive Selley named BT Openreach boss

  11-01-2016 11:40 via telegraph.feedsportal.com
  
  Current chief of BT Technology will head Openreach when former boss Joe Garner becomes Nationwide CEO
  
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• Tax returns: the quirks of self-assessment

  11-01-2016 11:18 via telegraph.feedsportal.com
  
  If you're among 5m people still to file a tax return by January 31, read this first
  
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• Tax returns: Six quirks of self-assessment

  11-01-2016 11:18 via telegraph.feedsportal.com
  
  If you're among 5m people still to file a tax return by January 31, read this first
  
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• Suspected case of low risk bird flu found at Scottish farm

  11-01-2016 11:12
  
  LONDON (Reuters) - A suspected case of avian flu has been discovered at a Scottish farm, Scotland's government said on Monday, adding it was believed to be a low risk form of the virus.
  
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• Hefner's Playboy mansion listed for sale for $200 million

  11-01-2016 11:00
  
  Jan 11 (Reuters) - The iconic Los Angeles mansion of Hugh Hefner, the founder of the Playboy empire, is being put up for sale for $200 million, Playboy Enterprises said, one of the highest asking prices for a private residence in the United States.
  
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• Carmakers help European shares to recover lost ground

  11-01-2016 11:00
  
  LONDON, Jan 11 (Reuters) - European shares recovered some of last week's hefty losses on Monday, helped by gains in the car sector and the potential for China to do more to prop up its slowing economy.
  
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• New year brings new ways you can maximise your money

  11-01-2016 10:55
  
  April will see some major changes to Isas and peer-to-peer lending, and tax limits on savings and rooms to rentThese days it’s rare to hear of new ways to give your finances a boost, but those keen to keep their cash out of the taxman’s grasp can take advantage of some major changes this year. From 6 April you will be able to place up to £15, 240 in brand new finance Isas. There is also a new savings allowance, and householders can also benefit from a massive rise in how much t
  
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• Ever so slowly, the euro zone economy awakes

  11-01-2016 10:27
  
  LONDON (Reuters) - Moribund. Decrepit. Sclerotic. Popular words to describe the economy shared by the 19 countries of the euro zone - but perhaps no longer apt.
  
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