Financial news

• Big six's hearts warmed by watchdog as standard tariff payers left out in cold

  10-03-2016 20:50
  
  Those hoping for radical revamp of household energy market to stop £1.7bn ‘rip-off’ disappointed by regulator’s triumph of hope over experienceIt feels a very long time since Ed Miliband (remember him?) was talking about freezing energy bills, an idea that proved so politically dangerous that it led indirectly to an inquiry by the Competition and Markets Authority. At the time, even the big energy companies, feeling battered by “rip off” headlines, reluctantly
  
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• Morrisons target £100M extra profits after online development

  10-03-2016 19:22 via feedproxy.google.com
  
  MORRISONS is targeting extra profits of up to £100million from developing its online appeal and utilising its food-making skills as it looks to build on its first quarterly sales rise for four years.
  
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• Leaving the EU is NOT a risk for investors, says world’s largest sovereign wealth fund

  10-03-2016 18:12 via feedproxy.google.com
  
  THE boss of the world's biggest sovereign wealth fund dismissed the prospect of Britain leaving the EU as a large investment risk.
  
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• Buy-to-let boom: Landlord lending beats first-time buyers for first time

  10-03-2016 18:00 via feedproxy.google.com
  
  LANDLORD borrowing eclipsed first-time buyer borrowing for the first time on record in January, show industry figures released today.
  
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• Homelessness crisis: ministers consider 'prevention duty' for councils

  10-03-2016 17:44
  
  Change in law would force local authorities to give advice and support to anyone at risk of homelessnessMinisters are considering changes to the law in an attempt to support the growing number of people on the brink of homelessness, including tens of thousands of “sofa surfers” currently denied official help to keep them off the streets.Options include introducing a new duty of prevention in England, which would force councils to provide advice and support for anyone at risk of homel
  
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• Property market WARNING: House prices in London to crumble amid tax changes

  10-03-2016 17:16 via feedproxy.google.com
  
  BRITAIN's housing market is set for a major slowdown over the next few months amid growing fears London's house prices are about to crash.
  
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• EDF and China's CGN win EU okay for Hinkley Point project

  10-03-2016 17:05
  
  BRUSSELS - French power company EDF and Chinese nuclear firm CGN won regulatory approval from the EU's competition authority on Thursday to build and operate nuclear power plants at Hinkley Point in Britain.
  
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• UK Financial Regulatory Developments - March 2016 #5 - JD Supra (press release)

  10-03-2016 16:33
  UK Financial Regulatory Developments - March 2016 #5
  JD Supra (press release)
  EBA has published its annual assessment of EU colleges of supervisors. The report assesses how colleges have functioned during 2015 and identifies key activities for the effective oversight of EU cross-border banking groups in 2016. The report ...
  

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• UK’s second most valuable stamp sells for £495,000

  10-03-2016 16:06
  
  Plate 77 Penny Red, one of five used examples known to philatelists, bought by unnamed British collectorAn incredibly rare Penny Red has become the UK’s second most valuable stamp after being sold to to an unnamed British collector for £495,000.
  The sale was arranged by London-based dealers Stanley Gibbons, which said the Plate 77 Penny Red is one of only five used examples known to the world of philately – another of which is held in the British Museum. Continue reading...
  
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• Brexit could leave EU, EIB vulnerable to ratings downgrade

  10-03-2016 15:49
  
  LONDON (Reuters) - A UK decision to leave the European Union would deprive the EU of one of its best-rated members, leaving the bloc and its investment bank vulnerable to credit rating downgrade.
  
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• Why energy changes could mean more junk mail

  10-03-2016 15:45
  
  Plus, making a Moonpig’s ear of Mother’s Day, the ‘pay penalty’ for women having children early; and wooden homes for saleBuy-to-let mortgage lending rockets ahead of stamp duty rise Continue reading...
  
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• Storm of big six lobbying put the dampeners on energy supply reform

  10-03-2016 15:37
  
  The fact Centrica’s share price has risen is a sure sign the competition watchdog caved in to energy industry pressureAs the competition and market authority (CMA) launched measures to halt rip-offs in the energy supply sector the rain fell across many parts of Britain. Related: UK watchdog accused of bowing to pressure from 'big six' energy suppliersContinue reading...
  
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• UK watchdog accused of bowing to pressure from 'big six' energy suppliers

  10-03-2016 14:20
  
  Review by competition regulator addressing overcharging of consumers branded ‘waste of time and taxpayer’s money’ after diluting proposals The competition watchdog has been accused of bowing to pressure from the “big six” energy suppliers after proposing a watered-down series of remedies aimed at stopping UK consumers from being overcharged. Opposition MPs, independent power companies and fuel poverty groups all warned the Competition and Markets Authority review wo
  
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• Pope imposes financial oversight for saint-making process - Belfast Telegraph

  10-03-2016 14:17
  Belfast Telegraph
  Pope imposes financial oversight for saint-making process
  Belfast Telegraph
  Pope Francis has imposed new financial accountability regulations on the Vatican's multimillion-dollar saint-making machine after gross abuses were revealed in two books. The rules require external vigilance over individual Vatican bank accounts ...en meer »
  

• EU vote uncertainty could slow UK housing market, Savills warns

  10-03-2016 13:47
  
  Upmarket estate agent posts 16% increase in pre-tax profits but says stamp duty rise may also deter buyers in coming months The upmarket estate agent Savills has warned that Britain’s housing market could slow in the coming months due to increased stamp duty and growing uncertainty surrounding Britain’s membership of the EU.The firm beat City forecasts with a 16% rise in pre-tax profits to £98.6m for 2015, with revenues rising nearly a fifth to £1.3bn. Underlying profits
  
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• Buy-to-let mortgage lending rockets ahead of stamp duty rise

  10-03-2016 13:40
  
  Council of Mortgage Lenders reports 22% rise in number of loans taken out by landlords in January as 1 April hike loomsThe number of buy-to-let mortgages rocketed by 22% in January compared with the same month in 2015, as landlords rushed to beat forthcoming tax changes.Around 9,500 loans were taken out by buy-to-let borrowers in January, compared with 7,800 in January 2015, according to the Council of Mortgage Lenders (CML). The total amount borrowed rose by 40% year-on-year to £1.4bn.Con
  
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• Are UK's tabloids falling out of love with Prince William and Kate?

  10-03-2016 13:38
  
  LONDON (Reuters) - For the last six years, Prince William and his wife Kate have been the darlings of the world's media, gracing the front pages of newspapers and magazines across the globe with their good looks, easy charm and two photogenic children to boot.
  
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• Energy report Q&A – what it means for you

  10-03-2016 13:31
  
  Competition and Markets Authority’s proposal could give postal addresses of non-switchers to all 37 energy firms The Competition and Markets Authority (CMA) has announced the findings of an 18-month investigation into the energy market. It concluded customers are being overcharged by £1.7bn a year in total and suggested measures to make the market more competitive.What is it suggesting? Continue reading...
  
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• Stephen Hawking joins 150 top scientists calling for Britain to stay in EU

  10-03-2016 11:32
  
  LONDON (Reuters) - Stephen Hawking has joined more than 150 top scientists in calling for Britain to stay in the European Union, saying that leaving would be "a disaster for UK science and universities".
  
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• Cameron warns of sterling pressure if Britain leaves EU

  10-03-2016 10:54
  
  LONDON (Reuters) - A British exit from the European Union would put pressure on sterling, Prime Minister David Cameron will warn on Thursday in a speech outlining the potential costs of voting to leave the bloc in a June referendum.
  
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• UK energy suppliers face price freeze for some customers

  10-03-2016 10:25
  
  LONDON (Reuters) - Britain's biggest energy suppliers will have to freeze prices for 4 million households as part of competition watchdog proposals designed to shake-up a market controlled by just a handful of players.
  
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• Negative bets against Ocado hit record high

  10-03-2016 08:59
  
  LONDON (Reuters) - "Short interest" in British online grocer Ocado has surged to a record high, suggesting that some investors are betting on a further drop in its share price after a fall of 14 percent so far this year.
  
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• Palace complains over report the Queen backs EU exit

  10-03-2016 08:46
  
  LONDON (Reuters) - Buckingham Palace said it had launched an official complaint with Britain's press watchdog on Wednesday over a newspaper report that Queen Elizabeth backs a British exit from the European Union, saying the monarch remains politically neutral.
  
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• London council launches letting agency for private renters

  10-03-2016 08:05
  
  Haringey says online agency, Move 51⁰ North, is first in the UK to offer an alternative to mainstream letting agents A London council has launched a letting agency for private renters, in a move it said would protect tenants from “the scourge of rip-off fees and charges”.Haringey council in north London said its online agency, Move 51⁰ North, was the first in the UK to offer private tenants an alternative to mainstream letting agents. Continue reading...
  
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• Five markers of adulthood millennials have had to give up on

  10-03-2016 08:00
  
  Lack of disposable income and rocketing living costs are forcing young adults to miss out on key milestonesDo you remember when you were young enough to say: “When I grow up I want to ... have a house with a garden/be a vet/fly to space/get married?” It was a lighthearted conversation encouraged by older generations to inspire ambition. But now you’ve grown up, how many of the more moderate goals have you achieved? And how many have you filed under “unobtainable”? C
  
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• Can we return our property to joint ownership using the Land Registry?

  10-03-2016 08:00
  
  My partner put our property into his sole name when we broke up. Now we are back together and are unsure of the tax implications of switching it backQ My partner and I have lived together in the same property for 40 years. We originally had a joint mortgage but I left him for two years more than 20 years ago and he had the property put into his sole name.We got back together and have now been together for 27 years and I have paid the mortgage with him and for the upkeep of the house. We paid the
  
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• Any space to manoeuvre over parking fine disagreement?

  10-03-2016 08:00
  
  As a charity we provided a grant to cover the cost of a removal firm ... and now we’ve got their ticketWe are an occupational charity that provide grants for clients having a tough time who have worked in the pub trade. We agreed to provide such a grant for a client to cover the cost of a removal firm, but have just received a call from this firm to say it has incurred a parking ticket outside the property, which they want us to pay. Is that common practice? CJ, LondonLook in the T&Cs
  
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• Government loses parliamentary vote on longer Sunday trading hours

  10-03-2016 07:04
  
  EDINBURGH/LONDON (Reuters) - British Prime Minister David Cameron was rebuffed in parliament on Wednesday when members of his own party joined with opposition lawmakers to block government plans to allow shops to open for longer on a Sunday.
  
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• Ikea billionaire Ingvar Kamprad buys second-hand clothes to save money

  10-03-2016 01:41
  Documentary on Swedish mogul emphasises his thrifty nature which he claims helped make Ikea a top brandFrugal billionaire Ingvar Kamprad, founder of the flatpack furniture chain Ikea, buys his clothes at flea markets to save money, he has said in a documentary to be broadcast on Swedish television.
  Kamprad, who turns 90 on 30 March, has a reputation for penny-pinching, which he claims helped Ikea to become one of the world’s top brand names.Continue reading...
  
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• Scotland the poor man of Europe: Huge financial deficit lays bare Nationalists' lies - Express.co.uk

  10-03-2016 01:05
  Express.co.uk
  Scotland the poor man of Europe: Huge financial deficit lays bare Nationalists' lies
  Express.co.uk
  NICOLA Sturgeon was last night urged to rule out a second referendum for “a very long time” after Scotland's finances were exposed as the worst in Europe. By Ben Borland. PUBLISHED: PUBLISHED: 00:05, Thu, Mar 10, 2016. Nicola Sturgeon GETTY.en meer »
  

• Eight million people in UK 'suffer financial worries' - Mirror.co.uk

  10-03-2016 01:01
  Mirror.co.uk
  Eight million people in UK 'suffer financial worries'
  Mirror.co.uk
  One in six UK adults is living with problem debt, with households in Sandwell in the West Midlands and parts of the South Wales Valleys being the most likely to be over-burdened, according to a Government-backed body. The Money Advice Service (MAS) ...en meer »
  

• Eight million people in UK 'suffer financial worries' - Mirror Online - Mirror.co.uk

  10-03-2016 01:01
  Mirror.co.uk
  Eight million people in UK 'suffer financial worries' - Mirror Online
  Mirror.co.uk
  One in six UK adults has problem debt, with Sandwell, West Mids, and the South Wales Valleys worst hit, says the Money Advice Service.
  Eight million UK adults 'suffer with financial worries' « Express & Starexpressandstar.com
  Eight million UK adults 'suffer with financial worries'Daventry Expressalle 9 nieuwsartikelen »
  

• Osborne’s climbdown on pension tax relief was ‘missed opportunity’

  10-03-2016 01:00
  
  Current system remains highly regressive and benefits top earners disproportionately, says Resolution Foundation thinktankGeorge Osborne’s decision to back down from making radical changes to pensions tax relief was a “missed opportunity” to boost the retirement pot of the average British worker by more than 14%, according to an analysis by the Resolution Foundation thinktank.The chancellor’s allies took the unusual step last week of announcing, less than a fortnight befo
  
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