Financial news

• Anglo American's pay drama shows discretion is a dirty word for some

  21-04-2016 21:06
  
  Pay committees need to stop waving their formulas, hiding behind remuneration consultants and start providing leadershipAnglo American got off lightly. A 42% revolt against the pay report was less than the 59% seen at BP last week, but was bound to be. The BP row was about actual rewards – notably chief executive Bob Dudley’s £14m – whereas the Anglo affair involved sums that may be paid to executives in future. Passions always run higher when pay has already been trouser
  
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• Diesel cars' emissions far higher on road than in lab, tests show

  21-04-2016 21:05
  
  UK inquiry after Volkswagen scandal finds much higher nitrogen oxide levels than when vehicles are tested in laboratoryDiesel cars are producing many times more health-damaging pollutants than claimed by laboratory tests, with some emitting up to 12 times the EU maximum when tested on the road, according to a government investigation undertaken following the Volkswagen scandal.
  A Department for Transport (DfT) study of cars made by manufacturers such as Ford, Renault and Vauxhall found there was
  
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• Don’t blame Panama for the Panama Papers | Isabel Saint Malo de Alvarado

  21-04-2016 19:47
  
  The tax haven label is unfair. Lack of financial transparency is a global issue that my country can help to stamp outA trove of leaked documents relating to offshore corporations with ties to the rich and famous has shed light on the extent to which the world’s financial and corporate centres are vulnerable to abuse by those seeking to hide their wealth.The affair has unfairly come to be known as the Panama Papers, even though, as the documents show, tax evasion and financial crimes are gl
  
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• Volkswagen to compensate Americans for diesel scandal as British drivers get NO PAYOUT

  21-04-2016 18:42 via feedproxy.google.com
  
  CARMAKER Volkswagen is to pay almost half a million American drivers "substantial compensation" over the diesel cheating scandal, while British owners will not receive a single penny.
  
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• UK unveils financial help for crisis-hit Tata Steel buyer - Daily Mail

  21-04-2016 17:53
  
  Daily Mail
  UK unveils financial help for crisis-hit Tata Steel buyer
  Daily Mail
  The British government Thursday offered "hundreds of millions of pounds" in financial support for potential buyers of crisis-hit Tata Steel's UK operations and said it could even buy up to a quarter of the company. "A package of support worth hundreds ...
  UK unveils financial support plan for Tata Steel buyerCitizen
  Government outlines details of financial support for Tata Steel UK buyersBusiness MattersBusiness Mat
  
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• £1.5m Battersea power station apartments held back from market

  21-04-2016 17:44
  
  Downturn at top end prompts developers to withhold from sale 150 flats designed by Frank Gehry and Norman FosterLuxury £1.5m apartments being built in the Battersea power station redevelopment are being held back from the market, as the downturn at the top end of the London property market hits sales.Prices start at £1.39m for a two-bedroom apartment designed by the architect Frank Gehry on the £8bn site on the south bank of the Thames, while homes from Foster + Partners are ma
  
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• Britain's debt now at £1.6 TRILLION as George Osborne blows yet another economy promise

  21-04-2016 17:40 via feedproxy.google.com
  
  BRITAIN's debt sky-rocketed to £1.594 TRILLION, as George Osborne officially broke another of his OWN economy borrowing rules, figures revealed today.
  
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• P&M: ​Senior markets regulator resigns from UK financial watchdog - International Financing Review

  21-04-2016 17:32
  
  P&M: ​Senior markets regulator resigns from UK financial watchdog
  International Financing Review
  This content is available to IFRe.com subscribers. Please login if you have a subscription. Alternatively, you can request a trial, or contact your IFR account manager for more information. If you have a subscription to IFRe, please enter your login ...
  
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• A Port Talbot buyout could transform industrial relations in the UK | Ian Greenwood

  21-04-2016 17:27
  
  A management buyout of the Tata steel plant is a long way off. But a renaissance for state intervention and industrial democracy would only be good for businessA management buyout at the ailing Tata Port Talbot steelworks will depend on a financial package requiring, in all probability, not only private but also government support. And for the sake of retaining the customer base, state backing will have to be vocal as well as financial. Related: Senior Port Talbot staff ‘to announce buyout
  
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• Pensions: FCA proposes protections for people planning to sell annuity

  21-04-2016 16:26
  
  City regulator says some may risk running out of money in retirement, and others may not realise the true value of their plan People considering selling their annuity should be given risk warnings by the firms involved, under proposals set out by the City regulator. From April 2017 people who have an annuity, which gives pensioners a guaranteed income, will be able to sell it on for a lump sum.Continue reading...
  
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• George Osborne's borrowing targets will be hard to meet

  21-04-2016 16:08
  
  The slowing economy will mean fewer tax receipts but more speculation on whether spending cuts or tax rises are needed to reach a 2020 budget surplusEarlier this week the Treasury made some confident projections about what the economy would look like in 2030 in the event of a vote to leave the EU in June’s referendum. The hazards of forecasting even one month ahead have now been illustrated.At the time of the budget, the number crunchers at the Office for Budget Responsibility (OBR) said t
  
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• Financial services deal revealed – UK must still make requests - BVI News Online

  21-04-2016 14:14
  BVI News Online
  Financial services deal revealed – UK must still make requests
  BVI News Online
  There has been clarification that law enforcement agencies and tax authorities in the United Kingdom (UK) will still have to request access to confidential information regarding the owners of corporate and legal entities that have been incorporated in ...en meer »
  
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• Senior markets regulator resigns from UK financial watchdog - Reuters

  21-04-2016 13:32
  City A.M.
  Senior markets regulator resigns from UK financial watchdog
  Reuters
  LONDON, April 21 David Lawton, director of markets policy and international relations, has resigned from Britain's Financial Conduct Authority, the FCA said on Thursday. The departure would allow Andrew Bailey, who takes up the reins as the FCA's new ...
  Financial services watchdog reveals more information on the secondary market ...City A.M.
  UK's Financial Conduct Authority Outlines Rules For Secondary Annuity M
  
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• John Maynard Keynes died 70 years ago. We ignore his wisdom at our peril | Justin Talbot Zorn and Merle Lefkoff

  21-04-2016 13:30
  
  The economist warned against the potentially disastrous weaknesses of our global financial system. It’s not too late to pay him heed now
  When John Maynard Keynes died, 70 years ago on Thursday, he was a man with serious unfinished business. While he achieved much in his lifetime, he lost out to the American delegation at the 1944 Bretton Woods conference. Against his objections, the US dollar was made the global currency, and Keynes’ foresighted idea for a new institution to more equ
  
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• Rush to beat stamp duty changes causes surge in housing market activity

  21-04-2016 12:12
  
  HMRC reports over 141,000 transactions over £40,000 in March, more than double the same period a year agoThe rush to beat an increase in the tax bill on buying a second home led to sharp rises in UK mortgage lending and house sales in March, two new sets of housing market data show.Non-seasonally adjusted figures from HMRC show that 161,990 property sales of £40,000 or more were registered during the month, a 77% increase on the figure for March 2015. Rising house prices in recent ye
  
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• REVEALED: The banks losing THOUSANDS of customers every month as they find better deals

  21-04-2016 12:11 via feedproxy.google.com
  
  BANKING giant Barclays is losing thousands of customers every month as disgruntled users switch for a better deal, figures reveal.
  
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• Executive pay is ‘broken’ system, say city experts

  21-04-2016 12:00 via feedproxy.google.com
  
  FAT CAT pay came under fresh attack yesterday as a group of high profile bosses branded the system for rewarding executives of UK-listed companies “broken” and “not fit for purpose”.
  
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• Sopra Steria chosen by Financial Conduct Authority to deliver the UK's largest ... - RealWire (press release)

  21-04-2016 11:44
  
  Sopra Steria chosen by Financial Conduct Authority to deliver the UK's largest ...
  RealWire (press release)
  London, UK, 21 April 2016 – Sopra Steria, a European leader in digital transformation, has today announced that it has been selected by the Financial Conduct Authority (FCA) to deliver a new digital regulatory market data processing platform. The ...en meer »
  
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• Given the facts the UK should stay in the EU

  21-04-2016 11:17
  
  While both pro- and anti-EU campaigns exaggerate their case, the facts suggest saying no to Brexit would be the better option … and the EUIn this, the 400th year since William Shakespeare’s death, the UK faces an existential question: to be or not to be “European”. When Britons vote in June on whether to remain in the European Union, making the right choice will require them to cut through the hyperbole on both sides of the debate and consider carefully what so-called &l
  
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• Help-to-buy rules mean I can't rent out my flat

  21-04-2016 11:05
  
  I want to move to my partner’s house but my mortgage terms prevent me from leasing my flat out. What can I do?Q: I have a problem. I bought my flat in Manchester in June 2014 with an equity loan from the help-to-buy scheme. I met my partner in March 2015 and in September we decided to live together. Given our circumstances we decided to move into his house and I thought it would be good idea to rent out my flat.Unfortunately the help-to-buy loan stipulates that I’m not allowed to ren
  
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• US and UK Studies Issue Warnings about Financial and Health Impacts of ... - Justmeans (blog)

  21-04-2016 10:07
  Justmeans (blog)
  US and UK Studies Issue Warnings about Financial and Health Impacts of ...
  Justmeans (blog)
  (3BL Media/Justmeans) – A new study by the London School of Economic (LSE), published in the peer-reviewed journal Nature Climate Change, says climate change could cut the value of the world's financial assets by $2.5tn (£1.7tn). This research used ...en meer »
  
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• Ten tips for future creative leaders

  21-04-2016 09:46
  
  Female leaders from advertising, arts, tech and social enterprise share their words of wisdom on getting to the top of creative industriesWhile the needle is moving in the right direction, the lack of women at the top of the creative tree is still a huge problem for the creative industries: as of 2014 only 13% of women occupied creative director roles. In an attempt to inspire the next generation of creative leaders, creative networking platform The Dots asked women making waves in the creative
  
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• Opening up scientific publishing for the Flickr generation

  21-04-2016 08:15
  
  Figshare has brought science publishing into the digital age so that academics can publish and share their research fully
  For an aspiring scientist, being published in a creditable journal is a major step towards gaining respect in the field. But for Mark Hahnel, founder and CEO of Figshare, this old system was drastically in need of an update. “The internet was built for sharing academic data but the way scientific papers are published had hardly changed since the early days of the printi
  
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• The London to Margate train journey that cost £268

  21-04-2016 08:00
  
  We had tickets my brother had bought, but they weren’t valid – and then the price escalatedIn February my brother and I planned a trip from London to Margate. He bought both the tickets with his Network Railcard for £57.02 for the two but, at the last minute, wasn’t able to go so I travelled with a friend.We were stopped by a Southeastern railway ticket inspector and told that in the absence of the Network Railcard and my brother, our tickets were invalid. We were told th
  
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• Flood waters have receded but small firms are struggling to recover

  21-04-2016 08:00
  
  Months on from widespread flooding across the north of England and Scotland, many business owners are still out of pocketJayne Shepherd and her son, Michael, had only run their restaurant Winner Winner in King’s Staith, York, for 15 months when the Boxing Day floods hit last year. When they raced to their restaurant that evening, there was little left to salvage. Sewage-contaminated water had surpassed 4ft, destroying stock, kitchen equipment and furnishings. “We were scrambling to p
  
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• India crippled by extreme weather as 100 million exposed to floods

  21-04-2016 04:00
  
  Ranked top in a list of populations most at risk from natural disasters, India must find solutions to make its economy less exposedIndia’s changing climate – in pictures
  High temperatures and a crippling shortage of rainfall in India is forcing schools to close and communities to ration drinking water. In Chennai, the oppressive heat currently gripping the southern Indian city has led to workers demanding an allowance for working in stifling factories and vets offering advice on cari
  
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