Financial news

• Spacewalk suspended after leak in U.S. astronaut's helmet

  15-01-2016 23:45
  
  CAPE CANAVERAL, Fla. (Reuters) - NASA cut short a spacewalk on Friday at the International Space Station after one of the astronauts reported a leak in his spacesuit helmet, the U.S. space agency said.
  
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• US stock markets take a major fall as Dow reaches lowest level since August

  15-01-2016 22:52
  
  Losses followed worldwide declines due to concerns about health of the Chinese economy and falling oil price and extend US markets’ worst ever start to the yearUS stock markets suffered further heavy losses on Friday with the Standard & Poor’s 500, the index of America’s biggest companies, falling 2.2% to 1,880 points – the lowest since August 2014.The losses, which follow declines across the world due to concerns about the health of the Chinese economy and the plungi
  
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• Fiat Chrysler CEO: US can make cars that meet 54.5mpg fuel efficiency standard

  15-01-2016 21:58
  
  Technology is ‘undoubtedly available’ to hit the target, Sergio Marchionne says – but how much will it cost, and how would it affect demand?The US car industry has the technology to make future vehicles meet the federal 54.5-mile per gallon average fuel economy requirement scheduled to arrive in 2025, the CEO of Fiat Chrysler Automobiles told journalists at the North American International Auto Show in Detroit earlier this week.“There is nothing wrong with owning ambitiou
  
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• The market mayhem isn't all doom and gloom

  15-01-2016 20:28 via telegraph.feedsportal.com
  
  What the markets did yesterday or will do tomorrow has little bearing on investments laid down to pay for a pension in 10, 20 or 30 years' time
  
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• Miners plumb the depths as whole market keeps tumbling

  15-01-2016 20:04 via telegraph.feedsportal.com
  
  The FTSE 350 mining index suffered its biggest daily fall in one month as weak oil prices continued to weigh on financial markets
  
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• Hey youngsters! No pension? No home? No wonder. Look at you!

  15-01-2016 20:00 via telegraph.feedsportal.com
  
  If young people today want the financial cushion they perceive the older generation to have, they need to give up their gadfly ways and knuckle down - like we did
  
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• 'Financial carnage' wipes £113bn off FTSE in ten days as China enters bear market

  15-01-2016 19:32 via telegraph.feedsportal.com
  
  For the second time in seven months, the Shanghai Composite index entered 'bear market' territory, as FTSE suffers its worst new year start ever
  
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• Bank levy cuts prove chancellor dances to City's tune, John McDonnell says

  15-01-2016 19:32
  
  Shadow chancellor criticises George Osborne’s decision as newspaper report reveals sustained pressure from bankersGeorge Osborne is on the side of the banks and not those who rely on them, John McDonnell, the shadow chancellor, has said, responding to reports that the chancellor cut the bank levy after sustained lobbying from the City. McDonnell said the reports were “yet another example of how George Osborne dances to the tune of whatever the bankers call for, and everyone else is a
  
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• From GoPro to oh no! Investors reeling from stock price plunge

  15-01-2016 19:28
  
  Shareholders have been left unimpressed by the fall in price from $94 to $12 and are reaching for their lawyersIts specialist action cameras allow surfers, skiers and other thrillseekers to record their exploits. The devices have been strapped to eagles to give a real bird’s eye view of the landscape, and can even be attached to a specially designed harness so that dog owners can view the world through the eyes of their pet. When GoPro floated its shares on Wall Street in June 2014, there
  
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• Six reasons why now is the right time to raise interest rates

  15-01-2016 19:03 via telegraph.feedsportal.com
  
  By delaying a rate rise, the Bank of England is exposing the UK economy to a much wider set of risks
  
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• Janet Yellen and Fed left with face full of egg after interest rate rise blunder

  15-01-2016 18:56
  
  Four weeks and one market meltdown later, US central bank’s decision to opt for early rate hike no longer looks so cleverTurn the clock back a month. It is the week before Christmas and the Federal Reserve has just raised interest rates for the first time in almost a decade.The mood in the markets is upbeat. A so-called Santa rally is in full swing. Dealers say the US central bank has played a blinder by keeping Wall Street sweet. If there were Oscars for central bankers, Janet Yellen woul
  
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• Bank of England bans two former Co-op Bank chiefs from top City jobs

  15-01-2016 18:49
  
  Barry Tootell and Keith Alderson also fined for posing ‘unacceptable threat to the safety and soundness’ of the bankTwo former bankers at the Co-operative Bank have been banned by the Bank of England from holding senior positions in the City after being found to have posed an unacceptable threat to the company’s financial position.The Bank is fining Barry Tootell, a former Co-op Bank chief executive, £173,802, and Keith Alderson, who ran the corporate and business banking
  
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• Walmart to shutter 269 stores, with most located in the US

  15-01-2016 18:44
  
  The retail giant announced it is working to transfer 10,000 US employees to nearby stores, as CEO said closings are ‘necessary to keep the company strong’Walmart is closing 269 stores, more than half of them in the US and another big chunk in its challenging Brazilian market. The stores being shuttered account for a fraction of the company’s 11,000 stores worldwide and less than 1% of its global revenue, but according to workers’ group Making Change at Walmart, this annou
  
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• Big six under fire over 'energy bills rip-off'

  15-01-2016 18:43
  
  Energy regulator Ofgem says the biggest companies are ‘overcharging in many cases’ as wholesale oil and gas costs plungeA coalition of poverty groups, industry experts and politicians have piled new pressure on the big six energy suppliers to cut their bills, accusing them of ripping off customers at a time of steep falls in company wholesale costs.The outburst of anger against the big six came as cold weather and huge declines in oil prices focused attention once again on an industr
  
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• VW sales lag behind wider EU market

  15-01-2016 18:26
  
  European car sales 9.3% higher in 2015, while VW sales rose 6.1%Volkswagen has fallen behind its competitors in Europe after the scandal-hit German carmaker failed to keep pace with an industry-wide sales increase of almost 10% last year. The European Union saw 13.7m car sales last year, 9.3% more than in 2014. However, sales of Volkswagen cars rose 6.1% over the same period as the company, which has admitted rigging diesel emissions tests, lost ground to its peers.Continue reading...
  
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• BT's £12.5bn EE takeover gets green light

  15-01-2016 17:38
  
  Competition and Markets Authority gives final clearance saying deal will not hurt mobile phone or broadband customersThe competition regulator has given the final clearance for BT’s contentious £12.5bn takeover of EE, Britain’s largest mobile phone network.The Competition and Markets Authority said it did not expect the takeover to lead to a substantial reduction in competition or be to the detriment ofconsumers in any market in the UK, including mobile and broadband services.C
  
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• Let’s move to Braunton, Croyde and Woolacombe, Devon

  15-01-2016 17:30
  
  If the Beach Boys had tried the cream teas and surf round here, they’d be wishing they could all be DevoniansWhat’s going for it? I’m not completely au fait with their oeuvre, but I don’t think the Beach Boys harmonised about cream teas or clotted cream, thatched cottages and fat pasties. Imagine if they’d hung out here in Britain’s surfers’ paradise, instead of LA! “I wish they all could be a Devonian.” Even having “pasty” in the
  
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• Warning as fraudsters send fake texts pretending to be your bank

  15-01-2016 17:19 via feedproxy.google.com
  
  CONMEN are masquerading as consumers' banks in a scarily sophisticated new scam that leaves victims with their accounts raided by criminals.
  
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• Debt advice clinic: put your questions to our experts

  15-01-2016 17:06
  
  Are you struggling with debt after Christmas? Do you need advice on dealing with your creditors? Our financial experts are here to helpIn the third week of January bank balances are often running low just as bills start arriving for Christmas borrowing. It’s no wonder that debt charities report that it is one of their busiest times of year. We are running a live advice clinic on Monday 18 January to answer readers’ questions about debt and how to deal with it.Continue reading...
  
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• House prices have rocketed 300% in England and Wales since 1995 – analysis

  15-01-2016 17:05
  
  Savills research on house price growth reveals Oval in south London saw the biggest rise, while South Tyneside had the smallest
  House prices in some parts of England and Wales have increased by almost 1,000% over the past two decades, with Oval in south London seeing the biggest price surge in that period, according to research by property firm Savills.Analysis of Land Registry data for second-hand properties shows that across England and Wales the average house price grew by 300% between 1995 a
  
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• Stock market plunge wipes £110bn off FTSE in ten days as China enters bear market

  15-01-2016 16:50 via telegraph.feedsportal.com
  
  For the second time in seven months, the Shanghai Composite index entered 'bear market' territory, as FTSE suffers its worst new year start ever
  
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• Experts name the one Isa fund they would back for 2016

  15-01-2016 16:49 via telegraph.feedsportal.com
  
  We ask those who pick funds for a living to name the one fund they would back above all others
  
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• British, EU officials see reform deal in weeks

  15-01-2016 16:42
  
  BRUSSELS/ANKARA (Reuters) - The British foreign minister and a senior EU official involved in negotiations to help keep Britain in the European Union both said on Thursday that a deal was taking shape that could be struck within weeks.
  
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• End of Saudi Arabia power? Iran set to outmuscle oil supremacy as competition increases

  15-01-2016 16:03 via feedproxy.google.com
  
  SAUDI Arabia could see its place as a major oil player under threat as fierce rivals Iran is expected to start pumping million of barrels after restrictions were lifted.
  
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• Ex-Thomas Cook boss Harriet Green received £6.3m in 2015 despite only working two months

  15-01-2016 16:01 via telegraph.feedsportal.com
  
  Peter Fankhauser, Ms Green's successor, also received almost £4.3m from the tour operator in the last financial year
  
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• US retailers suffer their worst year since 2009

  15-01-2016 15:38 via telegraph.feedsportal.com
  
  Weak sales figures cast shadow over world's largest economy
  
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• BT cleared to buy EE despite fears of a bad deal for customers

  15-01-2016 15:36 via feedproxy.google.com
  
  COMMUNICATION giant BT has been given the green light to go ahead with a £12.5billion takeover of EE, despite a wave of worry that the mega-merger will mean a raw deal for consumers.
  
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• Time to 'sell everything'? No, this is when a 'hold everything' strategy works

  15-01-2016 15:15 via telegraph.feedsportal.com
  
  Experts predict market meltdown. A respected investor had already tipped off the Telegraph on how to play this one, says Andrew Oxlade
  
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• 'Can you recover £3,475 from Tesco for our timeshare?'

  15-01-2016 14:26 via telegraph.feedsportal.com
  
  A couple seek help from our consumer champion over a complex timeshare agreement
  
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• Car loans drive surge in UK consumer borrowing

  15-01-2016 14:15
  
  Personal loans and credit card borrowing jumped in November, says Bank of England
  A surge in loans for new cars was behind a big increase in lending to households, according to Bank of England figures, which may raise fresh fears that families are falling into the trap of debt-fuelled spending. The Bank, in its quarterly credit conditions survey, said unsecured borrowing by households – such as personal loans and credit cards, but not mortgages – jumped by 8.3% in November.Continue r
  
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• UPDATE 1-Bank of England bans former Co-op boss from senior bank roles

  15-01-2016 14:07
  
  LONDON, Jan 15 (Reuters) - The Bank of England banned the ex-boss of Co-operative Bank from holding top level jobs in banking for life on Friday due to his role at the British lender which came close to collapse, the first time the regulator has barred a former CEO in this way.
  
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• Citigroup profit leaps as legal bill shrinks

  15-01-2016 14:07
  
  Jan 15 (Reuters) - Citigroup Inc, the No.3 U.S. bank by assets, reported a massive jump in quarterly profit as costs plunged from a year earlier, when the bank took $3.5 billion in legal and repositioning charges.
  
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• Pound falls to lowest level since 2010 election as builders suffer shock contraction

  15-01-2016 14:00 via telegraph.feedsportal.com
  
  Construction industry shrinks at fastest rate since 2013
  
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• From Colgate ready meals to Bic's disposable undies: the world's weirdest off-brand products

  15-01-2016 13:54 via telegraph.feedsportal.com
  Would you buy wine from jeans maker Diesel, disposable underwear from Bic or perfumes made by Zippo? Companies don't always get it right when launching entirely new product ranges. These are some of the odder attempts.
  
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• EBay buyer sent my 'health machine' for repair - and wanted me to pay

  15-01-2016 13:42 via telegraph.feedsportal.com
  
  Our consumer champion helps a reader who was presented with a repair bill from a buyer for an item sold
  
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• Polish lawmakers approve asset tax on lenders despite ECB worries

  15-01-2016 13:32
  
  WARSAW, Jan 15 (Reuters) - Poland's parliament approved on Friday a bill that imposes a tax of 0.0366 percent on lenders' assets per month, excluding government bonds, despite concern from the European Central Bank that the legislation could encourage risky behaviour.
  
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• Britain gets final payment for Landsbanki's Icesave collapse

  15-01-2016 13:31
  
  Jan 15 (Reuters) - Britain received a final payment of 740 million pounds ($1.06 billion) on Friday from the estate of Landsbanki, an Icelandic bank that collapsed during the 2008 financial crisis.
  
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• UPDATE 1-Brazil's economic activity slows for 9th month in November

  15-01-2016 13:27
  
  BRASILIA, Jan 15 (Reuters) - Economic activity in Brazil slowed in November for the ninth straight month as the country sank into one of the world's deepest recessions for the year, but the drop was smaller than expected due to a surprise increase in retail sales.
  
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• Bosses allowed to snoop on YOUR WhatsApp messages and emails could hit British economy

  15-01-2016 13:25 via feedproxy.google.com
  
  A EUROPEAN court ruling allowing bosses to monitor WhatsApp and other private messages made by staff during work time could damage the British economy, according to an expert dubbed Britain’s nicest boss.
  
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• UPDATE 2-BlackRock profit weaker than expected on higher compensation, expenses

  15-01-2016 13:11
  
  Jan 15 (Reuters) - BlackRock Inc on Friday reported quarterly profit that was weaker than analysts expected, due to higher compensation costs.
  
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• COLUMN-As LME volumes fall, is base metals pricing fragmenting?: Andy Home

  15-01-2016 13:06
  
  LONDON, Jan 15 (Reuters) - Trading volumes on the London Metal Exchange (LME) fell by 4.3 percent in 2015.
  
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• UPDATE 1-Russia's PM calls for spending cuts, says budget faces "serious risks"

  15-01-2016 13:03
  
  MOSCOW, Jan 15 (Reuters) - Russian Prime Minister Dmitry Medvedev has ordered the government to decide which spending could be significantly cut, saying on Friday that a dramatic fall in oil prices was creating serious risks for the budget.
  
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• Scandal-hit VW stalls as European car sales hit the gas

  15-01-2016 12:40 via telegraph.feedsportal.com
  
  Market rebounding but experts warn there's still a long way to go
  
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• BHP Billiton shares slide again on US writedown and oil price slump

  15-01-2016 12:38 via telegraph.feedsportal.com
  
  Brazilian police are also investigating fatal dam collapse last November
  
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• World economy MELTDOWN: China stock losses spark panic sell-off and FTSE drops £113BN

  15-01-2016 12:35 via feedproxy.google.com
  
  CHINA’S stock market has plummeted so low it's now officially in so-called 'bear' territory, as the price of oil hit new depths, sparking fears the world economy could go under.
  
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• H&M posts surprise 10pc surge in sales

  15-01-2016 12:32 via telegraph.feedsportal.com
  
  Fashion retailer Hennes & Mauritz warms up to winter with better-than-expected sales over December
  
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• Former Co-op Bank bosses banned from City for life

  15-01-2016 12:24 via telegraph.feedsportal.com
  
  Former chief executive Barry Tootell and corporate chief Keith Alderson receive lifetime ban
  
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• Equity fund exodus continues, largest outflows in 18 weeks

  15-01-2016 12:22
  
  LONDON (Reuters) - Investors' exodus from equity funds continued in the second week of January, wiping $5.7 trillion off global stocks in the first nine trading days of 2016, Bank of America Merrill Lynch (BAML) said on Friday.
  
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• Brazil's Odebrecht seeks partner for sanitation arm - paper

  15-01-2016 12:18
  
  BRASILIA, Jan 15 (Reuters) - Brazilian engineering firm Odebrecht SA is seeking a partner for its water and sewage business Odebrecht Ambiental and does not rule out selling a stake in its transportation arm too, newspaper Valor Economico reported on Friday.
  
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• Equity fund exodus continues, largest outflows in 18 weeks -BAML

  15-01-2016 12:17
  
  LONDON, Jan 15 (Reuters) - Investors' exodus from equity funds continued in the second week of January, wiping $5.7 trillion off global stocks in the first nine trading days of 2016, Bank of America Merrill Lynch (BAML) said on Friday.
  
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