Financial news

• Boots pharmacists feel the pressure of putting profit first | Letters

  14-04-2016 20:28
  
  My story mirrors that of Tony (How Boots went rogue, The long read, 13 April). I have been broken by Boots despite being loyal. I too have had overwhelming pressure to perform services for pure profit over patient benefit. I was set targets by my manager at times expecting 30 Medicines Use Reviews (MURs) a week. My manager showed total disregard for ethics, saying: “I don’t care how you do them but I want them done.” For a period in this store I refused to do services
  
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• You probably have a drawer full of them – why can't we crack battery recycling?

  14-04-2016 13:58
  
  Research indicates up to half of all EU countries could fall short of this year’s target to recycle 45% of waste batteriesContinue reading...
  
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• Bank of England leaves rates on hold as Brexit fears grow - business live

  14-04-2016 13:27
  
  Central bank fears that UK growth is already suffering from uncertainty over June’s EU referendum Latest: Bank says Brexit fears are hitting growthRates on hold again Burberry suffers sales fallAsian markets hit four-month high12.27pm BSTHere’s Ben Brettell, senior economist at Hargreaves Lansdown, on the Bank of England decision:Consumer spending, aided by low inflation, low unemployment and rising wages, has been the engine of economic growth lately. But recent surveys suggest cons
  
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• Britain should stay in EU 'warts and all' - Corbyn

  14-04-2016 13:15
  
  LONDON (Reuters) - Britain should stay in the EU "warts and all", the opposition Labour leader will say on Thursday, making his first big intervention in the referendum campaign as he seeks to counter criticism he is not doing enough to persuade his voters to back the "In" campaign.
  
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• Cameron's ratings fall, both campaigns level ahead of EU referendum - YouGov

  14-04-2016 13:14
  
  LONDON (Reuters) - Prime Minister David Cameron's ratings have fallen 8 percentage points as he battles to keep Britain in the European Union ahead of a June referendum, according to a YouGov poll for The Times newspaper on Thursday.
  
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• It’s time for restaurants to get rid of tips | Jay Rayner

  14-04-2016 13:00
  
  The system of service charges is crass, inefficient and demeaning. Let’s end itI am a control freak and as such completely unsuited to my job as a restaurant critic. Every time I visit a restaurant I am, in effect, ceding control of my night out to complete strangers: the waiters who will be looking after me. This makes me antsy. Usually, I know nothing about them. I have no guarantee they will show me a good time. Ah, but it’s OK because they have an incentive to do so: the discreti
  
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• A real profits recession may be on its way – but there's no need to panic

  14-04-2016 13:00
  
  The ‘new normal’ is likely to see slow corporate earnings growth. But that doesn’t mean we’re in for another major recessionThis time, it’s real. The corporate earnings recession, that is. For the better part of six months now, markets pundits have been muttering away about a lack of growth in corporate profits. Without that, the classic theory goes, you just can’t have other good things, like economic growth, job growth and stock market growth. The problem &n
  
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• Queen Elizabeth is still 'the boss' as she approaches 90th birthday

  14-04-2016 12:55
  
  LONDON (Reuters) - Britain's Queen Elizabeth, the world's oldest monarch, turns 90 next Thursday showing no sign she will be retiring from the stage anytime soon.
  
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• A royal encounter for Britain's William and Kate in Bhutan

  14-04-2016 12:54
  
  THIMPHU (Reuters) - Britain's Duke and Duchess of Cambridge arrived on Thursday in the tiny Himalayan kingdom of Bhutan, where they will meet its glamorous young royal couple for the first time.
  
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• Unilever warns of fragile consumer market

  14-04-2016 12:52
  
  Consumer goods giant says growth is weakening across emerging markets, negligible in North America and negative in EuropeUnilever has warned it was operating in a “fragile” consumer environment with deflation weighing on its performance in Europe and slowing growth in emerging markets.The consumer goods company behind well-known brands such as Persil, Marmite and PG Tips, said sales in Europe fell 0.6% in the first quarter as the impact of eurozone deflation and aggressive price disc
  
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• RBS to close 32 NatWest branches and axe further 600 jobs

  14-04-2016 12:46
  
  Bailed-out bank blames cost-cutting move on greater customer shift away from traditional branches towards online and phone bankingRoyal Bank of Scotland is to close 32 of its NatWest branches and cut 600 jobs in the latest attempt by the bailed-out bank to save costs and respond to customers’ increased use of digital banking. The jobs are being cut in clerical roles at the 73%-taxpayer owned bank, including 200 posts in the London area and 400 across the north and the Midlands.Continue rea
  
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• JD Sports profits rise 45% as new stores open across Europe

  14-04-2016 12:42
  
  Retailer plugs into ‘athleisure’ trend with like-for-like sales up more than 10% after strong demand for women’s sportswearJD Sports has reported a 45% surge in annual profits and booming sales in sports fashion as it rolls out stores across Europe.Strong demand for trainers made by Nike and other leading brands, as well as for women’s, men’s and junior sportswear, meant that like-for-like sales at JD’s sports fashion division rose by more than 10% for the sec
  
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• House prices could fall over Brexit risk, plus Tesco to accept Sainsbury's vouchers

  14-04-2016 12:26
  
  Also, a brief guide to the history of inheritance tax; Norway, the country where you can see everyone’s tax returns; and how do I become ... an astronomer? Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
  
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• Mothercare shares plunge 20% after sales fall at non-UK stores

  14-04-2016 12:20
  
  Baby goods chain reports fewer shoppers visited its 1,310 overseas outlets, particularly in China and the Middle EastShares in Mothercare have plunged after the baby goods chain reported that shoppers stayed away from its non-UK stores, particularly across the Middle East and China.Mothercare, which has 170 stores in the UK and 1,310 overseas, said on Thursday that sales fell in all four international regions in the 11 weeks to 26 March. Sales were down by 9.7% measured at constant currencies an
  
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• Antimicrobial resistance a 'greater threat than cancer by 2050'

  14-04-2016 12:13
  
  UK chancellor George Osborne to tell IMF that 10m people a year could die without radical action Antimicrobial resistance to antibiotics will present a greater danger to humankind than cancer by the middle of the century unless world leaders agree international action to tackle the threat, George Osborne will say.The chancellor will tell a panel of experts at an IMF meeting in Washington that 10 million people a year could die across the world by 2050 – more than the number of people lost
  
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• Persimmon shares dive over concerns about slowing sales

  14-04-2016 12:05
  
  Housebuilder’s shares drop 6% to £19.07 despite sales revenues going up 8% since the start of the year Fears over slowing sales at Persimmon, one of Britain’s biggest housebuilders, have caused a sharp drop in its share price.In a trading update on Thursday morning ahead of its annual meeting at York Racecourse, which could involve protests over executive pay and other issues, Persimmon said sales revenues had risen 8% to £2.15bn since the start of the year. Weekly privat
  
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• UK's corporate tax deals put ideology before financial necessity - Equal Times

  14-04-2016 11:49
  
  UK's corporate tax deals put ideology before financial necessity
  Equal Times
  Tough talk from the British government on corporate tax avoidance has no credibility as long as multinationals negotiate their tax bills while most people suffer austerity cuts. The Panama Papers reveal the depth of hypocrisy in the UK government's ...en meer »
  
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• BRIEF-UK financial watchdog seeks to ban ex UBS trader over alleged Libor ... - Reuters

  14-04-2016 11:15
  
  BRIEF-UK financial watchdog seeks to ban ex UBS trader over alleged Libor ...
  Reuters
  April 14 FCA. * Today published a decision notice in respect of Mr Arif Hussein, formerly a derivatives trader at UBS in london. * Decision notice has no effect pending determination by tribunal. * This sets out FCA'S finding that Mr Hussein is not a ...
  
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• Peppa Pig owner Entertainment One denies ITV approach, but its shares jump

  14-04-2016 10:42
  
  Overnight reports that UK broadcaster plans to bring home the bacon with takeover prompt flurry of interest
  Shares in Peppa Pig owner Entertainment One have jumped by almost 20% despite the firm denying reports it had been approached about a takeover by ITV.Bloomberg reported overnight that ITV had held preliminary talks with the Canadian company, which also distributed Oscar-winning film Spotlight. The company is currently trading at a value of more than £800m.Continue reading...
  
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• BP boss faces shareholders angry at £13.8m pay deal

  14-04-2016 10:02
  
  IOD urges shareholders to vote against pay rise at AGM amid oil giant’s record lossesBP chief executive Bob Dudley will face shareholders on Thursday amid investor anger over his £13.8m pay package, after the oil company posted its worst-ever annual loss.The Institute of Directors made a rare intervention on executive pay ahead of the AGM, urging BP shareholders to think twice before backing Dudley’s pay award. Continue reading...
  
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• Five ways you can inspire budding entrepreneurs

  14-04-2016 09:52
  
  Few school students have ambitions to start a business, but entrepreneurs can change that. Here’s how to invest in the next generation of startup foundersStarting a business is an unpopular career choice among school pupils – 78% of young people aged 15-18 have no interest in doing so, according to a recent YouGov survey, commissioned by Google. But, as a business owner, you have the power to motivate the future generation of founders.Entrepreneurship still remains on the fringes of
  
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• Fewer wealthy Chinese tourists hits Burberry sales in Europe

  14-04-2016 09:40
  
  Fashion house trading update says fall in well-off visitors following Paris terror attacks will dent full-year profits in 2017Burberry’s share price has taken a dive after it reported a sales slowdown in Europe, as luxury Chinese shoppers stayed away from the region following the Paris terror attacks in November.The luxury fashion brand warned that a “challenging” environment would push full-year profits in the year ahead to the bottom end of analyst expectations. Continue read
  
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• Profit on RBS stake sale will be tricky, warns outgoing Treasury chief

  14-04-2016 09:22
  
  Sir Nicholas Macpherson admits government’s remaining 73% stake in bailed-out bank may have to be sold well below break-even price of 502pFresh doubt has been cast on the ability of George Osborne to sell off
  the state’s remaining stake in Royal Bank of Scotland at a profit following
  remarks by the outgoing head of the Treasury. The chancellor sold off the first tranche of a 79% stake in the bailed-out bank in August at a £1bn loss and Sir Nicholas Macpherson, the outgoing perm
  
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• UK's £3 billion green home scheme not value for money – watchdog

  14-04-2016 09:17
  
  LONDON (Reuters) - A British government scheme costing energy firms 3 billion pounds to help people save money on their bills and cut greenhouse gas emissions has not provided value for money, a parliamentary watchdog said.
  
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• Debenhams to name new boss after Michael Sharp confirms 2017 exit

  14-04-2016 09:13
  
  Department store chain’s chief executive begins 12-month notice period amid rise in half-year profitsDebenhams expects to appoint a new boss in the next few weeks after Michael Sharp confirmed his resignation on Thursday.Revealing a slightly better than expected rise in half-year profits, the company said it was in the “final stages” of hiring a replacement for Sharp who has agreed a 12-month notice period starting on Thursday. Sharp will receive full pay and benefits, amountin
  
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• A fortnight’s holiday is hardly relaxing - let’s all take a sabbatical

  14-04-2016 08:12
  
  We can’t possibly work any harder - but we’d all like to feel healthier and bring some true enthusiasm to our work. I suspect sabbaticals are the answer. A few weeks ago, I got back from my honeymoon - an, extravagant, once in a lifetime fortnight in Hawaii. I know that I’m disgustingly lucky, and now karmically obligated to spend all subsequent holidays in static caravans in North Wales in November. The sun was hot, the sky was blue, and the people who got up at 5AM to reserve
  
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• How do I become ... an astronomer?

  14-04-2016 08:00
  
  Marek Kukula chose his career aged 14 on a trip to Jodrell Bank, and now he’s public astronomer at the Royal ObservatoryMarek Kukula says he was “one of those kids who is always asking questions” so perhaps becoming some kind of scientist was always on the cards. It was on a trip to the radio telescope at Jodrell Bank in Cheshire at the age of 14 that Kukula decided what he wanted to do – and he is now public astronomer at the Royal Observatory in Greenwich.Continue readi
  
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• BT couldn’t provide us with a phone, but its billing machine is unstoppable

  14-04-2016 08:00
  
  I am being charged for two cancelled orders - help!We have just moved back to the UK from Australia. We tried to set up a phone line with BT then realised we needed to order it as part of an internet bundle. We were advised to cancel the phone order and put in an order for the Infinity 2 bundle. BT sent an email to say this second order had been cancelled (no reason given). I rang and they assured me any money taken would be refunded. I have now received billing details for both the cancelled ac
  
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• US corporations have $1.4tn hidden in tax havens, claims Oxfam report

  14-04-2016 06:01
  
  Charity analysis of the 50 biggest US businesses claims Apple have $181bn held offshore, while General Electric has $119bn and Microsoft $108bnUS corporate giants such as Apple, Walmart and General Electric have stashed $1.4tn (£980bn) in tax havens, despite receiving trillions of dollars in taxpayer support, according to a report by anti-poverty charity Oxfam. Related: Tax havens don’t need to be reformed. They should be outlawed | Richard BrooksContinue reading...
  
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• Australia can't balance budget with spending cuts alone, says Moody's

  14-04-2016 05:39
  
  Ratings agency warns treasurer he will have to increase revenue to reach surplus by 2021, as Morrison promises budget will have revenue measures Ratings agency Moody’s has warned the treasurer, Scott Morrison, Australia’s budget is unlikely to return to surplus by June 2021 with modest spending cuts alone. Related: Scott Morrison: Australia has a spending problem, not a revenue problemContinue reading...
  
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• Labor plans boost in use of Australian steel for government projects

  14-04-2016 04:32
  
  The opposition leader, Bill Shorten, and industry spokesman, Kim Carr, announce six-point plan to encourage, but not mandate, use of Australian steelLabor has announced a six-point plan to encourage – but not mandate – the use of Australian steel in government projects through higher standards and considering a further crackdown on dumping.The government has criticised the policy, saying it amounts to a backdown on comments by the opposition leader, Bill Shorten, last week, questioni
  
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• UK RICS house price index hits nine-month low in March as EU vote nears

  14-04-2016 01:18
  
  LONDON, April 14 (Reuters) - - Britain's housing market looks set for a soft patch in the run-up to June's referendum on European Union membership, surveyors said on Thursday, forecasting the slowest house price growth in almost a year.
  
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• UK advertising survey shows confidence falls

  14-04-2016 01:17
  
  LONDON (Reuters) - Companies' confidence in Britain's financial prospects has fallen to the lowest level since early 2013, hit by uncertainty over the possibility of Brexit and concerns about global growth, a survey of marketing executives found.
  
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• When'sa your Dolmio day? 'Occasionally', new labels to say

  14-04-2016 01:01
  
  Mars Food’s pasta products, high in sugar and fat, to carry label advising shoppers that food is not for everyday consumptionThe food giant that makes Mars bars is to introduce new labelling advising consumers that its Dolmio pasta meal kits and ready-made sauces – high in sugar, salt and fat – should be eaten only occasionally.As part of a five-year global health initiative being announced on Thursday, Mars Food is introducing new labels on its savoury pasta and rice products
  
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