Financial news

• The euro, like the banking system, is good for the few, not the many

  26-02-2016 23:00 via telegraph.feedsportal.com
  
  As Mervyn King makes clear, monetary union has created a conflict that is fraught with dangers
  
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• Safety first, says the PM, but the EU puts money and people at risk

  26-02-2016 23:00 via telegraph.feedsportal.com
  
  As Mervyn King makes clear, monetary union has created a conflict that is fraught with dangers
  
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• Britain's campaign to leave EU takes 4 percent point lead - ORB poll

  26-02-2016 21:04
  
  LONDON (Reuters) - The campaign to take Britain out of the European Union in a June 23 referendum has taken a 4 percentage-point lead, according to an online survey taken by the ORB pollster for The Independent newspaper published on Friday.
  
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• Osborne warns of deeper spending cuts after growth falls short

  26-02-2016 20:11
  
  LONDON (Reuters) - Chancellor George Osborne warned that he might cut public spending more deeply than he previously planned after the country's economic growth fell short of the pace foreseen in his plans to wipe out the country's budget deficit.
  
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• UK energy supply forecasts 'into the red' for first time next winter

  26-02-2016 19:56 via telegraph.feedsportal.com
  
  Britain will be forced to rely on imports and costly emergency measures to prevent blackouts, official data suggests
  
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• Sterling's fall shows EU referendum 'no parlour game' - Osborne

  26-02-2016 17:31
  
  LONDON (Reuters) - Leaving the European Union would be a "profound economic shock" for Britain and this week's drop in the value of its sterling currency drives home the real-world consequences of the "In-Out" debate, Chancellor of Exchequer George Osborne said on Friday.
  
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• How much cheaper can borrowing get? Mortgage and loan rates keep on falling

  26-02-2016 17:31 via feedproxy.google.com
  
  BORROWING costs have tumbled to new record lows as an interest rate rise looks ever more unlikely.
  
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• Let’s move to Alston, Cumbria

  26-02-2016 17:30
  
  One of England’s highest market towns, it has stone cottages, hardy locals and a shop for anything you could possibly needWhat’s going for it? Should we be out on our sea level rise predictions, I reckon Alston would be OK. London might become Atlantis, but high on top of the Pennines, Alston, one of the loftiest towns in the country, would surely survive as an un-desert island. They’re a resourceful, independent lot here. They’ve had to be. Farming has become tougher, so
  
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• Contactless payments used for 1bn UK purchases in 2015

  26-02-2016 16:28
  
  Increase in transaction limit to £30 boosted spending by more than 200%
  UK shoppers made more than 1bn contactless purchases on credit and debit cards in 2015, and used the technology for almost one in eight of all card transactions in December.An increase in the amount that could be spent without using chip and pin, from £20 to £30, and growing awareness of the technology by consumers pushed spending up by 233% over the year, to £7.75bn. Continue reading...
  
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• Gang jailed for sex crimes in English town at centre of abuse scandal

  26-02-2016 15:40
  
  LONDON (Reuters) - Five people were jailed on Friday for multiple sex crimes against young girls in Rotherham, the northern English town that hit the headlines two years ago when it was revealed that as many as 1,400 children had been abused by gangs.
  
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• G4S decides to sell UK Children's Services division

  26-02-2016 15:32
  
  LONDON (Reuters) - G4S, the world's largest security company, has decided to sell its UK Children's Services division, which includes a training centre for young offenders at the centre of a storm over allegations of mistreatment.
  
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• Overwhelmed? 10 ways to feel less busy

  26-02-2016 15:00
  
  You can’t do it all, so try Oliver Burkeman’s tips to reclaim your time and your sanitySecret office diariesInside the UK’s wackiest officesPeople with stressful jobs track their heart ratesMeet the man with 20 jobsTim Dowling’s office buzzword quizWork isn’t working; that much seems clear. If you’re a human being with a job and you don’t feel unpleasantly busy yourself, you almost certainly know several people who do, and who rarely stop mentioning it.
  
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• 'Stamp duty stampede' as house prices in London surge by 14 per cent

  26-02-2016 13:46 via feedproxy.google.com
  
  HOUSE prices have surged as second home and landlord buyers rush to complete before a new tax takes effect, show official figures today.
  
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• Alleged former IRA chief gets 18 months in jail for tax evasion

  26-02-2016 13:44
  
  DUBLIN(Reuters) - The alleged former chief of staff of the Irish Republican Army (IRA) Thomas 'Slab' Murphy was sentenced on Friday to 18 months in prison for not paying tax in a embarrassing decision for close allies in the Sinn Fein political party on election day.
  
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• Gold funds post longest run of inflows since 2009

  26-02-2016 13:02
  
  LONDON (Reuters) - Gold funds accumulated their largest inflows since 2009 and equity funds posted their longest run of outflows since 2008 in the last week as financial market turmoil continued to unnerve investors, Bank of America Merrill Lynch said on Friday.
  
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• House prices jumped 2.5% in January, says Land Registry

  26-02-2016 12:54
  
  Price increase was the biggest monthly leap in England and Wales since June 2002
  House prices in England and Wales jumped by 2.5% in January, adding more than £4,700 to the average cost of a property, official figures show.A fall in the number of homes coming onto the market, combined with the announcement of new stamp duty rates for investors in November’s autumn statement, boosted demand and prices.Continue reading...
  
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• RBS crisis: Taxpayer-funded bank posts £2bn loss sparking massive share plunge

  26-02-2016 11:54 via feedproxy.google.com
  
  ROYAL Bank of Scotland has revealed a £2billion annual loss, making it the eighth year in a row the taxpayer-bank has failed to turn a profit.
  
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• Amundi bond manager cuts sterling exposure, hedges further Brexit falls

  26-02-2016 10:59
  
  LONDON (Reuters) - The head of Amundi's flagship bond fund said on Thursday he had cut back his exposure to the British pound and taken out options to sell it if it falls further on the prospect of Britain opting to leave the European Union.
  
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• Spot prices steady as supply and demand near balanced

  26-02-2016 10:00
  
  LONDON (Reuters) - British gas prices for prompt delivery were steady on Friday in a near-balanced system as stable supplies from Norway helped meet demand.
  
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• Osborne pushes G20 to warn against Brexit - FT

  26-02-2016 09:23
  
  (Reuters) - British finance minister George Osborne is pushing the Group of 20 leading economies to warn about the dangers of Britain leaving the European Union, the Financial Times reported on Thursday.
  
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• Ofcom tells BT to open up infrastructure to rivals

  26-02-2016 08:28
  
  Openreach should be run at ‘arm’s length’, regulator says in review, but BT should keep control of cable network – for nowBT has been told to help rivals use its infrastructure to lay fibre cables that are faster than its own copper network, as part of a review of Britain’s broadband needs by the regulator Ofcom.In a once in a decade review, the regulator stopped short of recommending that BT be forced to split off Openreach, the division that owns the broadband inf
  
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• Bank of England's Carney warns of zero-sum game from negative rates

  26-02-2016 05:40
  
  LONDON (Reuters) - Bank of England Governor Mark Carney warned on Friday that moves by central banks to cut interest rates below zero risked creating a "beggar-thy-neighbour" environment which could leave the global economy trapped in low growth.
  
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• UK consumers least confident in over a year on economic uncertainties

  26-02-2016 02:02
  
  LONDON, (Reuters) - British consumer morale fell to its lowest in over a year in February as concerns over the economic outlook hurt sentiment, a survey showed on Friday.
  
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• Woolworths suffers $1bn loss as Masters debacle and price war take their toll

  26-02-2016 01:58
  
  The retailer admits there is no end in sight to fierce competition for customers and promotes supermarkets boss Brad Banducci as new chief executiveWoolworths has announced a $1bn loss in the first half and appointed a new chief executive to revive the business.The company’s decision in January to pull the plug on its Masters hardware chain will cost $3.25bn before tax in a one-off impairment. Shareholders will take a $972.7m hit, it said in its first half results on Friday. Continue readi
  
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• Electricity price rise likely in NSW after tribunal overturns regulated cuts

  26-02-2016 01:45
  
  Australian competition tribunal rules in favour of electricity network operators in New South Wales who claimed their costs were $5bn more than estimatedHousehold energy prices are set to jump in New South Wales after a tribunal overturned a regulator’s decision to cut prices charged by electricity networks.The decision also has national implications, and is likely to result in more expensive power bills in at least the ACT and Victoria. Continue reading...
  
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• Asda backs down over food bank ban

  26-02-2016 01:17
  
  Supermarket chain to allow collection points back into its UK supermarkets after backlash The supermarket chain Asda has announced a policy U-turn that will see the return of permanent collection points for food banks and other charities in all its UK stores. The move comes after the Guardian broke the news that the collection points were being removed across Britain. Some food banks said the move would threaten 25% of their supplies, while the Trussell Trust food bank network warned of losses o
  
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• Bank of England chief accuses G20 of failing to reform to boost growth

  26-02-2016 01:05
  
  Mark Carney rejects idea that central bankers have ‘used all ammunition’ against downturn but says system remains strong Bank of England boss Mark Carney has accused the G20 of failing to adopt measures to boost global growth as he defended central banks and their power to play a role in stimulating economic growth following attacks from critics who say they have run out of ammunition.Speaking at a meeting of G20 finance ministers and bank governors in Shanghai on Friday, Carney turn
  
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• MPs seek veto powers over top regulator post

  26-02-2016 01:04
  
  LONDON (Reuters) - MPs want veto powers over decisions to hire or fire the head of one of Britain's top financial regulators after the exit last year of its chief executive who was considered too tough on bankers for the government.
  
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• EU referendum jitters could hinder UK housing market, says Hometrack

  26-02-2016 01:01
  
  Property firm says sales in 20 biggest cities, which slumped 2% last year, could slow further in run-up to June voteUncertainty over the outcome of the EU referendum is likely to slow Britain’s housing market in the coming months, according to property firm Hometrack.The firm, which provides data to mortgage lenders and developers, said the number of sales in the country’s 20 biggest cities had already fallen by 2% last year and activity was likely to dip further in the run-up to the
  
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