Financial news

• European commission unfairly targeting US companies over taxes, official says

  29-01-2016 22:52
  
  Strongly worded comments are likely to worsen a growing rift between European and US officials over issues including tax policy and online privacyApple, Amazon, Starbucks and McDonald’s are being unfairly targeted by the European Commission over tax avoidance, according to Robert Stack, the US Treasury official in charge of international tax policy.After meeting with EU competition officials in Brussels on Friday, the Financial Times reported that Stack said: “We are concerned that t
  
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• Global markets end tumultuous month on a high

  29-01-2016 21:24
  
  2016 has seen some dramatic falls already, but Bank of Japan’s negative interest rates put some hope back into the global economy Global markets have ended a difficult month on a stronger note after the Bank of Japan stepped in to boost its economy with negative interest rates.However, weak economic growth figures in the US underscored the scale of a global slowdown that has rattled investors. Continue reading...
  
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• Investors love cheap money – and hate optimistic central bankers

  29-01-2016 20:42
  
  Stock markets rally thanks to Bank of Japan interest rate cut but the signs are the global economy is still feeling fragileIt would be easy to think that the worst is over, at least for the time being. Watching world stock markets rally after the Bank of Japan cut interest rates gave a sense of relief to many in the financial community. Oil prices, which slumped to just $27 (£19) a barrel a fortnight ago, stood at $34, up 40 cents on the day.Yet the reverse is true. If anything, investors
  
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• Serious Fraud Office back in the dock after Libor acquittals

  29-01-2016 20:13
  
  Time may be running out for the SFO director and his organisation following the failed attempt to pursue Libor convictionsFor Terry Farr, being cleared of rigging the Libor interest rate was just one reason to celebrate this week. It was also his father’s 70th birthday.More than three years after the first arrests in the investigation, and after a trial lasting four months, the 44-year-old Farr celebrated the end of his ordeal by sharing a couple of drinks with his parent. Continue reading
  
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• Google's tax deal with the UK: key questions answered

  29-01-2016 19:22
  
  The chancellor’s ‘huge success’ in securing £130m in back taxes from the technology company raises a number of issues When Google reached a £130m settlement with the British taxman last week, George Osborne described the deal as a “major success”. But the chancellor and the search giant have been on the back foot ever since, accused of striking a “sweetheart deal” that might have short-changed taxpayers and has drawn the close attention of Br
  
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• What's stopping Murdoch from trying to buy Sky a second time? Absolutely nothing

  29-01-2016 19:01 via telegraph.feedsportal.com
  
  Sky is now 52pc more expensive than it was back in 2011, but that won't put off James Murdoch
  
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• FTSE 100 surges as Bank of Japan stuns with negative interest rate move

  29-01-2016 18:56 via telegraph.feedsportal.com
  
  Market Report: Global stocks suffer worst January in 7 years despite late rally
  
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• Revealed: Osborne's 'pension revolution' will cost young professionals £161,263

  29-01-2016 18:45 via telegraph.feedsportal.com
  
  Telegraph analysis reveals exactly how the biggest pension tax reforms in a generation will affect you
  
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• Tesco to shorten opening hours at almost a quarter of 24-hour stores

  29-01-2016 18:36
  
  400 staff affected will be supported to find alternative roles with no redundancies expected, spokesperson says Tesco is to halt 24-hour trading at 76 of its biggest stores owing to a lack of shoppers in the early hours.The company, which began operating 24-hour stores 20 years ago, said just under a quarter of those currently open round-the-clock will now close at midnight and reopen at 6am. Continue reading...
  
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• 'One of a kind': tributes to UK's 'oldest working miner' who died at 80

  29-01-2016 18:28
  
  Forest of Dean freeminer Robin Morgan is described as unique character who ‘loved the pit and died with his boots on’He first ventured underground at the age of 13 when his father guided him into the cramped, dark, soggy tunnels under the Forest of Dean.And Robin Morgan was still scrabbling for coal and iron the day before he died last week aged 80, possibly the oldest working miner in the UK.Continue reading...
  
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• Self assessment: tax returns disrupted by HSBC attack on last working day before deadline

  29-01-2016 18:22 via telegraph.feedsportal.com
  
  Around 1.5m taxpayers still yet to submit their forms have until midnight on Sunday to avoid £100 fine
  
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• Ministers can do more to support British steel, trade unions say

  29-01-2016 18:22
  
  Claim follows underwriting of bank loans to Sheffield Forgemasters by Rolls-Royce, BAE Systems and BabcockTrade unions have said a government-backed support package for Sheffield Forgemasters demonstrates that ministers can do more to support Britain’s embattled steel industry.Manufacturing group Rolls-Royce, defence contractor BAE Systems and military services firm Babcock International have agreed to underwrite about £30m of bank loans to the steelmaker. They have done so as indust
  
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• After 68 years, last classic Land Rover Defender 4x4 rolls off production line

  29-01-2016 18:21
  
  LONDON (Reuters) - The last classic Land Rover Defender, the 4x4 known the world over and with famous owners including Queen Elizabeth, rolled off the production line on Friday, 68 years since first being built.
  
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• Startup of the Year 2015-2016 competition entry: Danielle's Made For You

  29-01-2016 18:14
  
  In their own words: ‘As 2016 goes on I will be continuing to expand and have begun organising local events to get my work seen’ Danielle Legg, sole trader at Danielle’s Made For You, explains why the business should win the Startup of the Year category of the Guardian Small Business Showcase competition:In early 2014 I found a love for sewing again, and at only 20 years old I never thought that two years later I would be using my hobby to run a business! In November 2014 I regi
  
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• UK Maoist cult leader jailed for 23 years for raping followers

  29-01-2016 18:05
  
  LONDON (Reuters) - A Maoist cult leader, convicted of raping and beating his brainwashed British female followers and keeping his own daughter a fearful prisoner for more than three decades, was jailed for 23 years on Friday.
  
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• Barclays picks from JP Morgan's ranks for new risk boss

  29-01-2016 18:00 via telegraph.feedsportal.com
  
  Jes Staley has hired his former Wall Street colleague CS Venkatakrishnan
  
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• 'Robust' domestic probes would pre-empt ICC charges against UK soldiers - minister

  29-01-2016 17:43
  
  THE HAGUE (Reuters) - Britain's legal system is robust enough to avoid the risk of British soldiers being prosecuted by the International Criminal Court over alleged human rights abuses in Iraq, a senior British government official said.
  
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• Startup of the Year 2015-2016 competition entry: The Great British Exchange

  29-01-2016 17:35
  
  In their own words: ‘This year is shaping up to be very exciting, we are building opportunities with large department stores’Anna Brizzolara, brand manager at The Great British Exchange, explains why the business should win the home business category of the Guardian Small Business Showcase competition:The Great British Exchange (The GBE) is passionate about British-made products. Our mission is to source artisan British-made products and make them easily accessible for retailers to b
  
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• Let’s move to Solihull, West Midlands

  29-01-2016 17:30
  
  Urbs in rure, goes its slogan, though it’s more rure in urbs, with fragments of its quaint past embraced by suburbiaWhat’s going for it? You say Solly-hull, I say Sow-lihul. It’s all terribly terribly, round here – all Groves, Avenues and Crescents, 1920s lawns and conifers. Under different circumstances, it might have continued life as a small Warwickshire market town with a fine sandstone parish church, a manor house and a huddle of half-timbered cottages, but Brum fatt
  
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• Britain's world-beating services are a sign of success, not failure

  29-01-2016 17:23 via telegraph.feedsportal.com
  
  Services industries are beginning to play the same role that manufacturing did in the past - they are generating export revenue and creating the bulk of the new jobs
  
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• 'Why does Barclays home insurance policy cost £700?'

  29-01-2016 17:03 via telegraph.feedsportal.com
  
  Barclays argue that the home is in an area of high flood risk, but a flood report suggests otherwise
  
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• Lloyds goes ahead with repurchase of high-interest 'ECN' bonds

  29-01-2016 16:52 via telegraph.feedsportal.com
  
  Bank will buy back the high-interest bonds on February 9 - but will pay compensation if Supreme Court subsequently fails to back its decision
  
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• US economy slows sharply in the final quarter

  29-01-2016 16:45 via telegraph.feedsportal.com
  
  Weak US growth figures add to global gloom as economists say March rate hike by the Federal Reserve now less likely
  
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• Is your local Tesco no longer open 24 hours? Find out here

  29-01-2016 16:06 via telegraph.feedsportal.com
  
  Tesco is bidding 70 of its 24-hour stores goodnight - will it be your local?
  
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• Wales' financial service sector is the fastest growing in the UK - WalesOnline

  29-01-2016 16:05
  WalesOnline
  Wales' financial service sector is the fastest growing in the UK
  WalesOnline
  Wales is officially the UK's hotspot for growth in companies in the financial services sector. According to research from specialist accountant for finance and banking contractors, Nixon Williams, the number of start-up financial services businesses in ...en meer »
  

• Unexpected £330 fee for EE 'dongle'

  29-01-2016 16:05 via telegraph.feedsportal.com
  
  Our consumer champion steps in when a reader's £10 fixed monthly charge escalates
  
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• Six ways the lifetime savings limit is killing pensions

  29-01-2016 15:54 via telegraph.feedsportal.com
  
  New Labour - and the Tories - should be ashamed of the lifetime allowance. Richard Dyson explains why it should be abolished
  
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• WMA Conference: Financial crime costs UK £52 billion - Citywire.co.uk

  29-01-2016 15:49
  Citywire.co.uk
  WMA Conference: Financial crime costs UK £52 billion
  Citywire.co.uk
  Financial crime has cost the UK economy £52 billion in total despite 88% of all cybercrime going unreported. Speaking at the Wealth Management Association's (WMA) financial crime conference yesterday, special inspector James Phipson, commercial ...
  Financial crime costs the UK £52 billionThe Economic Voice (blog)alle 4 nieuwsartikelen »
  

• Profits halve at Indian energy giant Vedanta Resources

  29-01-2016 15:37 via telegraph.feedsportal.com
  
  The group, which mines across the world as well as producing oil and gas, has been hard hit by the commodities downturn
  
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• Insolvencies plunge in 2015 but companies and individuals to struggle this year

  29-01-2016 15:15 via telegraph.feedsportal.com
  
  Company insolvencies are at an 11-year low while the number of bankrupt individuals hits lowest level since 2005
  
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• Poland against 'emergency brake' solution on UK migrant workers

  29-01-2016 15:13
  
  WARSAW (Reuters) - Poland does not support "emergency brake" proposals that could help curb immigration from other European Union states to Britain, Foreign Minister Witold Waszczykowski said on Friday.
  
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• Inflation finally picks up in the eurozone

  29-01-2016 15:00 via telegraph.feedsportal.com
  
  Consumer prices rise to 0.4pc - their highest level in 14 months - but it won't be enough to prevent another shot of stimulus from the ECB in March
  
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• Bets pay off for Mecca bingo owner Rank Group

  29-01-2016 15:00 via telegraph.feedsportal.com
  
  Owner of Grosvenor Casinos will open two new formal bingo halls to attract younger users
  
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• HSBC online banking failure: What you need to know

  29-01-2016 14:46 via telegraph.feedsportal.com
  
  HSBC customers are struggling to use online accounts as bank admits its systems have come under attack
  
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• Plunging oil price boosts trading outfit Tullett Prebon

  29-01-2016 14:06 via telegraph.feedsportal.com
  
  Inter-dealer broker said it enjoyed a strong end to the year as clients piled into oil bets
  
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• Property prices rise across the country as demand outstrips supply

  29-01-2016 13:55 via telegraph.feedsportal.com
  
  Private rents grew 2.5pc in the year to December, with London up 3.9pc
  
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• UK housing: London renters facing financial squeeze as rents run far ahead of pay - International Business Times UK

  29-01-2016 13:51
  International Business Times UK
  UK housing: London renters facing financial squeeze as rents run far ahead of pay
  International Business Times UK
  Private rents in London are rising much faster than wages, according to official figures. Data from the ONS shows that private rents grew by 3.9% on average in London over the year to December 2015, but London's average weekly earnings for full-time ...
  

• North Sea oilfield services company Proserv takes heavy credit ratings hit

  29-01-2016 13:32 via telegraph.feedsportal.com
  
  S&P says the company's creditworthiness is "significantly deteriorating"
  
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• CMA delays findings into current account competition

  29-01-2016 13:16 via telegraph.feedsportal.com
  
  Watchdog says it needs more time to weigh up new ways to improve the market
  
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• European funds raise euro zone bond, equity holdings

  29-01-2016 13:09
  
  LONDON (Reuters) - European funds raised their exposure to euro zone bonds and equities in January after the ECB hinted strongly that further easing could be on the way and European stocks plunged more than 20 percent, a Reuters poll showed on Friday.
  
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• British investors cut equities, dash for cash

  29-01-2016 13:05
  
  LONDON (Reuters) - British investors reduced their equity holdings and sought safety in cash in January, a Reuters poll showed on Friday, after nearly $8 trillion was wiped off global stock markets at the start of the year.
  
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• Brexit threat hangs over London-based EU medicines agency

  29-01-2016 13:05
  
  LONDON (Reuters) - Fears of a British exit from the European Union are growing in a corner of London's Canary Wharf financial district - but this time it is pharmaceutical executives rather than bankers who are worried.
  
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• HSBC online banking service crashes again

  29-01-2016 12:52 via telegraph.feedsportal.com
  
  The bank said it has successfully defended itself after coming under cyber attack
  
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• HSBC online banking crashes after cyber attack

  29-01-2016 12:52 via telegraph.feedsportal.com
  
  The bank said it successfully defended itself against the hackers, but the disruption meant customers weren't able to log in to their accounts
  
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• HSBC suffers online banking cyber-attack

  29-01-2016 12:51
  
  Bank admits its internet banking facility was made unavailable following a ‘denial of service’ attack, but says no transactions were affectedHSBC customers were locked out of internet banking for several hours on Friday after the company was targeted by online criminals in a denial of service attack.The bank, which has 17 million personal banking and business customers in the UK, said its website had been attacked, but it had successfully defended its systems. Customers were unable t
  
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• Reading takes the lead in house price rises

  29-01-2016 12:49
  
  Record house prices have caused a knock-on effect in the rental market, with tenants paying 2.5% more than last year, according to ONS and Land Registry dataReading recorded the biggest house price rises in England and Wales in 2015, according to a survey, in a further sign of London workers unable to afford central locations in the capital looking elsewhere. In London, the biggest rises were in the outer suburbs of Barking and Dagenham and Hillingdon, both up by more than 15%, while in Kensingt
  
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• Britain leaving EU would hurt its football clubs, chairwoman says

  29-01-2016 12:25
  
  LONDON (Reuters) - British soccer teams could find it harder to sign top European players and some players may be forced to leave if the country exits the European Union, one of the leading women in the sport said on Friday.
  
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• Fed owns up to global risks in statement shift

  29-01-2016 12:15
  
  SAN FRANCISCO/WASHINGTON (Reuters) - In the U.S. Federal Reserve's arsenal of tools the characterization of economic risks is heavy artillery, used to flag the moments when major events like the 2003 Iraq war or the near crack-up of the euro zone in 2011 make forecasting even trickier than usual.
  
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• Oxford keeps statue of colonialist Rhodes, angering some students

  29-01-2016 11:21
  
  LONDON (Reuters) - An Oxford University college has announced it will keep a statue of 19th century colonialist Cecil Rhodes on display, resisting pressure to remove it from student campaigners who say it glorifies a brutal racist.
  
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• Britain's steel industry slams Europe's toothless fightback against China

  29-01-2016 11:21 via telegraph.feedsportal.com
  
  The European Commission has imposed tariffs on some Chinese imports but British Steel claims the measures are a "slap in the face" for UK manufacturers
  
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