Financial news

• Irish PM offers more housing, infrastructure to woo independents

  05-04-2016 21:34
  
  DUBLIN (Reuters) - Irish Prime Minister Enda Kenny has offered to boost a state house construction programme and build more infrastructure to coax independent parliamentarians to support a new government, a draft document seen by Reuters showed on Tuesday.
  
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• The Panama Papers show why Britain needs to get its house in order | Mary Dejevsky

  05-04-2016 21:20
  
  David Cameron talks the talk about cleaning up international finance. Yet some of the biggest havens of dirty money are British territories and London property• Corbyn says UK should impose direct rule on tax havens
  • Five things Britain could do now to clean up tax havens
  • What are the Panama Papers?British taxpayers are so shocked, we were assured by clean-government campaigners yesterday, that something will now have to be done. Really? Ordinary taxpayers shocked by the revela
  
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• Cameron, under pressure from 'Panama Papers', says he does not benefit from offshore funds

  05-04-2016 20:54
  
  LONDON (Reuters) - Prime Minister David Cameron and his family do not benefit from any offshore funds, his spokesman said on Tuesday, after the British leader came under pressure over his late father's inclusion in the "Panama Papers" revelations over tax havens.
  
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• "UK Establishes New HM Treasury Office to Implement Financial Sanctions" - JD Supra (press release)

  05-04-2016 20:34
  "UK Establishes New HM Treasury Office to Implement Financial Sanctions"
  JD Supra (press release)
  On March 31, 2016, the U.K. launched the new Office of Financial Sanctions Implementation (OFSI) within HM Treasury. OFSI, which assumes the financial sanctions responsibilities previously carried out by HM Treasury's Asset Freezing Unit, is tasked ...en meer »
  

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• London is a tax haven much closer to home | Letters

  05-04-2016 20:28
  
  Richard Brooks is certainly correct that, in the long run, tax havens need to be driven out of existence (We don’t need to reform tax havens – just get rid of them, 5 April). But given the enormous scale of the vested interests that support their existence, this is politically a rather utopian goal. Meanwhile, some much simpler reforms could help; the scam, which permitted thousands of wealthy individuals (not just the super-rich oligarchs etc) to avoid paying stamp duty on property
  
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• The wealth of ways to save family its fortune

  05-04-2016 19:01 via feedproxy.google.com
  
  MIDDLE class Britons have been urged to act now or risk losing more of their wealth to inheritance tax.
  
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• Windsor & Eton brewery draughts in next generation to target younger drinkers

  05-04-2016 18:13 via feedproxy.google.com
  
  BE RADICAL with the craft ale recipe, draw on the family’s brewing experience and then come top in an international beer contest.
  
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• British university encourages others to curb use of conflict minerals

  05-04-2016 17:47
  
  LONDON (Thomson Reuters Foundation) - The first British university to adopt a policy aimed at cutting the use of conflict minerals in the products it buys, said on Tuesday it hopes to form a network of like-minded universities that together would combat the issue in their supply chains.
  
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• The New State Pension: Winners and Losers revealed

  05-04-2016 17:23 via feedproxy.google.com
  
  RETIREMENT benefits are to be completely overhauled from April 6 in a move that will benefit millions, but also leave plenty of savers paying the price.
  
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• Savers risking everything in search for return after years of stagnant interest rates

  05-04-2016 17:15 via feedproxy.google.com
  
  DESPERATE savers turning to riskier investment products in a search for income is one of the biggest threats to financial services in Britain, according to the market regulator.
  
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• New state pension: How much will you get?

  05-04-2016 16:44 via feedproxy.google.com
  
  A RADICAL overhaul of the state pension system takes effect tomorrow. But what is the new state pension and how much will you get?
  
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• City of London head takes aim at Mayor Johnson over backing Brexit

  05-04-2016 16:29
  
  LONDON (Reuters) - London Mayor Boris Johnson's leading role in campaigning for Britain to leave the EU is sending "unwelcome and unhelpful" signals to investors about the capital's future, the head of the City of London Corporation said on Tuesday.
  
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• Zero-hours contracts make it harder for workers to save, says FCA

  05-04-2016 16:27
  
  City regulator says financial institutions face challenge of creating products suitable for the 800,000 people on such contractsZero-hours contracts make it harder for workers to save and present a challenge to financial institutions to come up with products suitable for consumers on less secure incomes, the City regulator has said.The number of workers on zero-hours contracts, which do not offer a minimum number of hours a week, surpassed 800,000 for the first time in the last three months of 2
  
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• PM Cameron says he does not own any shares, offshore funds

  05-04-2016 15:53
  
  LONDON (Reuters) - British Prime Minister David Cameron said on Tuesday he did not own any shares or have offshore funds, after his late father was included in a leaked list of clients using a law firm in the tax haven of Panama.
  
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• Transfixed by radio drama, Britons donate, debate domestic abuse

  05-04-2016 15:31
  
  LONDON (Reuters) - A downtrodden wife tries to leave her abusive husband but in the course of a confrontation ends up stabbing him in front of her young son. The case makes front-page news, stirs a moral debate and prompts a spike in donations to domestic abuse charities.
  
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• Lead EU carbon policymaker calls for end to UK price floor to help steel

  05-04-2016 14:57
  
  BRUSSELS (Reuters) - Britain should abolish its carbon floor price to help the hard-hit steel industry, the lawmaker shepherding a reform of the EU Emissions Trading System (ETS) through parliament said on Tuesday.
  
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• I have a PhD yet haven't even got a job interview – in academia or elsewhere

  05-04-2016 14:41
  
  I am told to ‘lower my expectations’ and seek roles in admin and retail, which I don’t want to. Do I have any hope of gaining work in academia?Twice a week we publish problems that will feature in a forthcoming Dear Jeremy advice column in the Saturday Guardian so that readers can offer their own advice and suggestions. We then print the best of your comments alongside Jeremy’s own insights. Here is the latest dilemma – what are your thoughts?I am 39 and have recent
  
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• IMF issues warning to Eurozone: Lagarde says tackle financial crisis NOW or face RUIN

  05-04-2016 14:36 via feedproxy.google.com
  
  EUROPE's economy is in a worse state than previously thought, shock figures revealed today, as the International Monetary Fund urged the bloc to do more to tackle problems amid an increased risk of a global financial crisis.
  
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• UK watchdog to review impact of pension freedom reforms

  05-04-2016 13:35
  
  LONDON (Reuters) - Britain's Financial Conduct Authority is launching a full-blown review of the multi-billion pound pension industry to ensure new freedoms to cash in savings pots do not lead to another mis-selling scandal.
  
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• How would Brexit affect the pound?

  05-04-2016 13:33 via feedproxy.google.com
  
  BREXIT campaigners argue that an EU exit would set Britain free to manage its own finances and affairs. But what impact would Brexit have on the pound?
  
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• 11million to lose THOUSANDS in pension laws coming into effect TOMORROW..are you affected?

  05-04-2016 12:17 via feedproxy.google.com
  
  MILLIONS of workers are set to be tens of thousands of pounds 'worse off' under the new state pension that takes effect tomorrow.
  
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• The 30-year-old Saudi prince who is changing the world with £1.4TRILLION

  05-04-2016 11:51 via feedproxy.google.com
  
  A SAUDI Arabia prince is to create a £1.4TRILLION sovereign wealth fund to raise the cash needed to keep its economy afloat amid plunging profits from lower oil prices.
  
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• Cheap petrol days OVER: Prices at the pump jump past £1 mark with further rises on horizon

  05-04-2016 11:46 via feedproxy.google.com
  
  DRIVERS suffered a sudden jump in fuel prices last month with experts warning more price hikes are to be expected in the coming weeks.
  
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• New parents: have you taken shared parental leave?

  05-04-2016 11:37
  
  Research shows that a small proportion of new fathers have taken the opportunity to share parental leave
  Shared parental leave (SPL) was introduced on 5 April 2015 to give parents more choice and flexibility in caring for their children during the first 12 months after their birth. Parents can split 52 weeks’ leave, receiving some payment for 39 of those weeks. That is on top of the two weeks’ statutory paternity leave available to fathers.Research among 200 employers by the firm My
  
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• UK services PMI edges up, first-quarter GDP growth likely to slow, Markit says

  05-04-2016 11:22
  
  LONDON, April 5 (Reuters) - Britain's economy appears to have slowed since the start of this year as worries about the global economy, government spending cuts and a vote on staying in the European Union take their toll, a closely watched survey showed on Tuesday.
  
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• Financial Development Programme for Non-Financial Managers - Nottingham ... - Business Wire (press release)

  05-04-2016 10:41
  Financial Development Programme for Non-Financial Managers - Nottingham ...
  Business Wire (press release)
  Understanding the financials has never been more important for the managers and leaders of organisations. Better decision making results from an improved understanding of the numbers and therefore better profits and cash flow. This highly practical and ...en meer »
  

• Bank of England policymakers disagree on pace of capital rule tightening, eye EU vote

  05-04-2016 10:33
  
  LONDON (Reuters) - Bank of England policymakers will look again at whether to tighten capital requirements for banks more rapidly after the result of Britain's vote on European Union membership is known in June.
  
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• UK financial watchdog says its funding needs rise 7.8 pct - Reuters

  05-04-2016 10:30
  UK financial watchdog says its funding needs rise 7.8 pct
  Reuters
  April 5 The UK's financial watchdog said its annual funding requirement had increased by 7.8 percent due to the inclusion of consumer credit in its operating costs for the first time. The Financial Conduct Authority said its funding requirement for ...en meer »
  

• Support for 'In' campaign rises ahead of Britain's EU vote - ORB poll

  05-04-2016 10:02
  
  LONDON (Reuters) - Support for Britain to stay in the European Union rose in the last month, suggesting a crisis in the steel industry and attacks in Brussels have not boosted the campaign for an exit, according to an ORB poll for the Daily Telegraph.
  
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• Drive Dynamics promised an instructor. But he never contacted me

  05-04-2016 08:00
  
  The self-styled most ‘liked’ driving school has a habit of leaving customers high and dryIn February I gave £117.75 to the driving school Drive Dynamics for five hours of lessons. I was assured that I’d hear from my instructor within five days. I received no more information about him, not even his phone number or last name.A week later I managed after several attempts to get through to customer service on the phone, but it directed me back to email. It eventually sent th
  
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• Being self-employed means freedom. Freedom to be abused and underpaid | Aditya Chakrabortty

  05-04-2016 07:59
  
  Across Britain, firms are laying off permanent staff in favour of contractors – then treating them unfairlyHere are two things you probably know. First, huge swaths of Britain’s workforce aren’t paid enough to live on and rely on benefits to get by. Second, there’s sod all chance of this changing. David Cameron’s hardly likely to take on business, the trade unions get punier by the day and work is becoming so insecure that those doing it dare not challenge their bos
  
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• Policy steps help China stocks defy global slide, oil slump hits Hong Kong

  05-04-2016 06:34
  
  SHANGHAI, April 5 (Reuters) - China stocks rose on Tuesday as a series of government support measures and improving economic data revived investors' appetite for riskier assets, though thin trading volume indicated that confidence remains fragile.
  
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• Credit Suisse, HSBC dismiss "Panama Papers" tax avoidance allegations

  05-04-2016 06:06
  
  HONG KONG/SINGAPORE, April 5 (Reuters) - Credit Suisse and HSBC, two of the world's largest wealth managers, dismissed on Tuesday suggestions they were actively using offshore structures to help clients cheat on their taxes.
  
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• Credit Suisse CEO Thiam targets bigger China presence

  05-04-2016 06:02
  
  HONG KONG, April 5 (Reuters) - Credit Suisse Chief Executive Officer Tidjane Thiam said on Tuesday the Swiss bank has been "underweight" in China and would look to build its wealth management capabilities in the world's second-biggest economy, despite slowing growth.
  
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• China limits coverage and denounces Panama Papers' tax haven revelations

  05-04-2016 05:31
  
  BEIJING, April 5 (Reuters) - China has moved to limit coverage of the massive leak of documents from a Panamanian law firm that may have exposed financial wrongdoing by some of the world's rich and powerful, blocking some search terms and removing certain stories online.
  
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• Australia shares hit one-month low, NZ retreats from record high

  05-04-2016 05:31
  
  SYDNEY/WELLINGTON, April 5 (Reuters) - Australian shares fell to their lowest in a month on Tuesday, led by a slump in Nine Entertainment which disappointed investors with a revenue warning, while New Zealand stocks touched another record high and then retreated.
  
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• Australia's booming education sector lures investors, boon to economy

  05-04-2016 04:55
  
  SYDNEY, April 5 (Reuters) - Australia's student housing market is shaping up to be the next big thing as an influx of foreign scholars entices investors into a neglected sector, reinvigorating a home building boom that is providing vital support to the wider economy.
  
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• UPDATE 1-BOJ's Kuroda, with eye on economy and markets, says ready to ease more

  05-04-2016 04:49
  
  * Adds won't cut rates just because it's easier (Adds quotes, detail)
  
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• Nutanix posts strongest revs yet, continues pursuit of IPO

  05-04-2016 04:30
  
  SAN FRANCISCO, April 4 (Reuters) - Nutanix on Monday disclosed a rise in quarterly revenues to a record high in a new regulatory filing that signaled the high-tech computing and storage company is proceeding with plans to go public.
  
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• UPDATE 1-U.S. court orders UBS to pay $4.7 mln in Puerto Rico divorce flap

  05-04-2016 03:53
  
  April 4 (Reuters) - A UBS AG unit must pay more than $4.7 million to a customer's former spouse who alleged that the firm improperly released accounts worth $12 million to her ex-husband despite a court order freezing those assets, a U.S. federal judge has ruled.
  
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• 'Still evolving' Rolling Stones open up rock 'n' roll world to fans

  05-04-2016 02:26
  
  LONDON (Reuters) - After more than 50 years of rock 'n' roll, the Rolling Stones are still pushing boundaries with their first exhibition showcasing hundreds of items from their long-running career, from Mick Jagger's jumpsuits to Keith Richards' guitars.
  
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• UPDATE 3-Brazil attorney general urges Congress to end impeachment case

  05-04-2016 01:54
  
  BRASILIA, April 4 (Reuters) - Brazil's attorney general urged a congressional committee on Monday to dismiss impeachment charges against President Dilma Rousseff, saying there is no legal basis for the proceedings.
  
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• Bernard Madoff to be deposed by victims' lawyers -filing

  05-04-2016 01:47
  
  NEW YORK, April 4 (Reuters) - A federal bankruptcy judge has ruled that Bernard Madoff can be questioned by lawyers for some former customers who lost money when the imprisoned swindler's firm collapsed in December 2008, a Monday court filing shows.
  
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• WRAPUP 8-Prosecutors open probes as world's wealthy deny 'Panama Papers' links

  05-04-2016 01:18
  
  LONDON/PANAMA CITY, April 4 (Reuters) - Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialised in setting up offshore companies.
  
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• Tiny proportion of new fathers are opting for shared parental leave

  05-04-2016 01:01
  
  Pay concerns are a key factor, survey finds, as just 40% of employees say their firm encourages sharing leaveHave you taken shared parental leave?
  Fathers are not taking advantage of rules that allow them to share leave with their partners, according to research published a year after the rights came into force.Shared parental leave (SPL) was introduced on 5 April 2015 to give parents more choice and flexibility in caring for their children during the first 12 months after their birth. Parents c
  
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• Shared parental leave is suffering teething problems

  05-04-2016 01:01
  
  Figures show fewer than 1% of UK men have taken time off work to spend with their new baby – largely due to money Talk about baby steps. On the first anniversary of the government’s shared parental leave scheme, figures show men have not leapt at the chance to have a chunk of time at home with their new baby.According to the research by My Family Care and the Women’s Business Council, the main obstacle was family finances. This should not come as a surprise. Equality campaigner
  
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• Cheaper petrol ends as UK pump prices rise

  05-04-2016 01:01
  
  RAC says prices have risen 3.4p a litre on average – the first increase on the forecourts since July 2015Motorists have been warned that the period of lower fuel prices is over after the cost of petrol rose last month for the first time since July 2015.Experts said the 3.4p a litre rise in average pump prices to 105p was a result of oil reaching $40 (£28) a barrel for the first time since early December. Continue reading...
  
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• UPDATE 1-Pimco says had 'good cause' to fire Bill Gross -filing

  05-04-2016 01:00
  
  April 4 (Reuters) - Pacific Investment Management Co said former bond manager Bill Gross' abusive conduct and effort to sabotage colleagues he deemed disloyal gave it "good cause" to oust him, and not pay any of the more than $200 million of damages he now seeks in a lawsuit.
  
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• Indian rate cut expected, with RBI seen staying 'accommodative'

  05-04-2016 01:00
  
  MUMBAI, April 5 (Reuters) - The Reserve Bank of India is expected to cut its policy interest rate by a quarter percentage point on Tuesday, lowering it to a more than five-year low while dangling the prospect of another cut later this year if inflation trends stay benign.
  
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• Global funds drawn to India's record $120 bln sour debt

  05-04-2016 01:00
  
  MUMBAI, April 5 (Reuters) - Global distressed asset buyers such as J.C. Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated $120 billion of bad and troubled loans.
  
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