Financial news

• RBS boss looks ahead to 'sustainable financial returns' - Belfast Telegraph

  04-05-2016 23:17
  
  Belfast Telegraph
  RBS boss looks ahead to 'sustainable financial returns'
  Belfast Telegraph
  The boss of the Royal Bank of Scotland said the "heaviest restructuring" of the bank will be behind it by the end of the year as it presses ahead with cost-cutting plans. Chief executive Ross McEwan told shareholders at the bank's annual general ...en meer »
  
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• UK Financial Regulatory Developments - April 2016 #24 - JD Supra (press release)

  04-05-2016 23:06
  
  UK Financial Regulatory Developments - April 2016 #24
  JD Supra (press release)
  Tracey McDermott spoke on the regulation of advice following FCA and Treasury's Financial Advice Market Review (FAMR). She noted the high level of engagement with the review and looked at recent changes to the financial landscape to emphasise the ...
  
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• David Cameron calls for political courage to seal TTIP deal

  04-05-2016 21:12
  
  PM says EU-US trade deal would be good for UK and dismisses concerns over impact on NHS as ‘reddest of red herrings’David Cameron has said a trade deal between the EU and US is not dead despite France threatening to veto the proposal in its current form.The prime minister said it would take “political courage to get it over the line” but the Transatlantic Trade and Investment Partnership (TTIP) would be good for British people. Continue reading...
  
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• €500 'Bin Laden' banknotes to be axed

  04-05-2016 20:16
  
  ECB’s governing council votes to stop issuing the notes on the grounds that they are too often used to finance crimeThe European Central Bank has phased out the €500 (£400) note, nicknamed the “Bin Laden” because of its association with money-laundering and terror financing – and because while many people know what it looks like, few have ever seen one. The ECB announced on Wednesday that the fuchsia-coloured bills, the highest denomination of the eurozone&rsqu
  
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• Kipper Williams on Wonga’s woes

  04-05-2016 20:13
  
  Tougher regulation of payday loan sector leads to sharp fall in revenues Continue reading...
  
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• Scottish economy grows far more slowly than UK as a whole

  04-05-2016 19:56
  
  Analysis finds Scottish GDP has grown by 4% in cash terms since 2008, compared with 23% for Britain as a wholeThe Scottish economy is growing at a far slower rate than the UK as a whole, with the North Sea oil slump leading to a fall in GDP last year, the latest data shows.Scotland’s gross domestic product declined by 1% in cash terms last year and has only grown by 4% since the recession, an analysis by the economist John McLaren has found. By comparison, the UK economy as a whole has gro
  
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• Sainsbury's sales and profits fall amid price cuts

  04-05-2016 19:46
  
  Sales fell 1.1% to £25.8bn in the year to 12 March and underlying profits slid to £587mSainsbury’s has revealed a 14% drop in annual profits after it was forced to slash prices to compete with the rise of the discounters.Sales fell 1.1% to £25.8bn in the year to 12 March and underlying profits slid to £587m, higher than the £571m predicted by analysts, as the company said it had maintained market share in a “competitive, deflationary environment”.
  
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• George Osborne’s great income tax pretence | Letters

  04-05-2016 19:40
  
  Now that April pay slips are appearing, the government’s posturing about cutting taxes and helping “hard-working families” is being shown to be a complete falsehood. My partner is a middle manager in the public sector. She has received a 1.2% pay rise and an increased income tax personal allowance, but these have been more than cancelled out by a whopping increase in national insurance, so she is worse off now than before. National insurance is income tax by another name and is
  
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• Barclays to sell off more than 100m shares in Africa subsidiaries

  04-05-2016 19:29
  
  Bank hopes to make £750m by reducing stake in operations on continent by 12.2%, in offering rumoured to be target of former boss Bob Diamond Barclays has kickstarted the sale of parts of its African operations, eyed by its former chief executive Bob Diamond.In a sale that could raise £750m for the bank, Barclays announced it was placing 103.6m shares – or around a 12.2% stake – in Barclays Africa with institutional investors. Continue reading...
  
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• How loyal are you to your loyalty cards?

  04-05-2016 19:26
  
  Supermarkets and shops are cutting back on the perks offered by their reward schemes. We ask whether it’s still worth weighing down your wallet with countless cardsIf you have a wallet, chances are there’s at least one loyalty card stashed in there, be it a dog-eared coffee stamp card or a Boots Advantage card. But with many major shops and supermarkets cutting back on their perks – Tesco is scrapping its Clubcard Boost events and Nectar has halved the value of points you recei
  
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• BHP Billiton faces £30bn compensation claim over Brazil dam disaster

  04-05-2016 18:31
  
  Mining subsidiary Samarco blamed for country’s worst environmental tragedy, which left 19 dead, but critics say legal case is politically motivatedThe mining group BHP Billiton and its partner Vale are facing a 155bn reais (£30bn) claim from Brazilian prosecutors over an iron ore mine dam collapse last year that released a torrent of toxic mud, killing 19 people and leaving 700 homeless.Shares in the London-listed BHP plunged almost 10% after the charges were revealed into what is be
  
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• MPs examining BHS offer to cooperate with investigators

  04-05-2016 18:18
  
  Frank Field tells SFO and Insolvency Service that select committee wants to help ‘shed light’ on retailer’s collapseMPs looking into the demise of BHS have written to the insolvency regulator and the Serious Fraud Office offering to cooperate with their investigations.Frank Field, chairman of the work and pensions committee, told the SFO boss, David Green, that MPs wanted to “shed light on what has happened to BHS and identify any regulatory, supervisory or legislative de
  
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• Call to make recruiters responsible for housing migrant workers safely

  04-05-2016 18:07
  
  Anti-slavery agencies point to ‘gap’ in law after finding that Staffline Group suggested sub-standard lodgings to workersGovernment anti-slavery bodies have pointed to a “gap” in the law that lets employment agencies who take on migrant workers avoid responsibility for helping them find safe housing. The call comes after it emerged that workers crammed into a dangerous disused showroom in north Wales had been suggested the accommodation by one of the UK’s biggest em
  
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• Man jailed over Libor seeks 'miscarriage of justice' review

  04-05-2016 17:10
  
  Tom Hayes hires lawyer who led Gary McKinnon extradition case to take appeal to Criminal Cases Review CommissionTom Hayes, serving 11 years for rigging Libor rates, has hired a high-profile lawyer to take his appeal to the Criminal Cases Review Commission, which investigates suspected miscarriages of justice.The 36-year-old’s attempt to have his conviction overturned failed although three senior court of appeal judges reduced the sentence from 14 years. Continue reading...
  
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• Industry 4.0: how intelligent assets will be part of a circular economy

  04-05-2016 17:08
  
  The internet of things and intelligent assets will be key to achieving a truly circular economy and forward-thinking cities such as Barcelona and Amsterdam are ahead of the curveIn a materials-reliant industrial economy, the notion of pervasive connectivity as the “new” infrastructure is significant if we are to achieve sustainability goals and tread more lightly on our planet.Until now, industrial growth has been focused on the linear “take, make, dispose” model. We dig
  
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• Bitcoin: Craig Wright promises new evidence to prove identity

  04-05-2016 17:08
  
  Proof of identity may not be enough to win round high-profile backer Gavin Andresen, who has now questioned Wright’s claim of being Satoshi NakamotoCraig Wright, the Australian computer scientist who claims to have created the cryptocurrency bitcoin in 2008 under the pseudonym Satoshi Nakamoto, has promised to provide fresh evidence to back up his claim.In a blogpost on his website, Wright says “over the coming days, I will be hosting a series of pieces that will lay the foundations
  
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• Turkey engulfed by bad loans and BANKRUPTCIES: Economic fears as it tries to join eurozone

  04-05-2016 17:05 via feedproxy.google.com
  
  TURKEY'S slowing economy threatens to spark instability in the country that could become the newest member of the eurozone.
  
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• REVEALED: The mortgage deals that can save YOU hundreds of pounds

  04-05-2016 16:10 via feedproxy.google.com
  
  HOMEOWNERS can shave hundreds of pounds off the cost of their mortgage bills by opting for tracker deals, analysis has revealed.
  
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• US private sector adds 156,000 jobs in April for slowest growth in three years

  04-05-2016 16:05
  
  Weak hiring at medium and larger companies and losses in manufacturing account for drop in hires, well short of March’s 194,000 jobs addedUS companies added jobs at the slowest pace in three years in April, a private survey found, a sign that slower growth and volatile financial markets could weigh on hiring.Payroll processor ADP says that businesses added 156,000 jobs in April, down from 194,000 in March. Manufacturers shed 11,000 jobs, after losing 3,000 the previous month. Services firm
  
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• BAE chairman to peace activists: 'weapons sales encourage peace'

  04-05-2016 15:07
  
  Sir Roger Carr tells questioners at BAE Systems AGM that all sales of ‘the very best weapons’ are in accordance with rules set out by UK governmentThe chairman of BAE Systems has claimed his company’s weapons sales encourage peace, as he responded to questions from peace activists who infiltrated the arms maker’s shareholder meeting. Sir Roger Carr was forced on the defensive by a salvo of questions probing BAE’s dealings with Saudi Arabia, which is currently at war
  
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• Barclays 100% mortgage: how much does it really help homebuyers?

  04-05-2016 15:06
  
  The no-deposit deal requires relatives to put up funds or act as guarantors, and all parties to take a tough affordability testThe launch of the Barclays 100% mortgage brings the number of products aimed at borrowers who do not have a deposit to its highest since the financial crash. But, while would-be first-time buyers may be skimming the pages of Rightmove with new-found enthusiasm, there will be many who still can’t get their hands on a loan. The new breed of 100% loans comes with stri
  
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• Next's view of consumer demand: dunno, guv

  04-05-2016 14:52
  
  Sales might have been affected by the weather, or consumers might be spending less – Next isn’t sureHere is Next’s considered opinion on the current state of consumer demand, derived from a detailed analysis of its own trading in the past six weeks: “Dunno, guv, we only sell clothes and stuff.”The chief executive, Lord Wolfson, didn’t put it like that, of course. Instead there was a worthy discourse on the effect of weather (cold in March and April versus last
  
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• Brexit jitters set to weigh on foreign demand for London office space

  04-05-2016 14:00
  
  Transactions expected to fall in run-up to June vote before bouncing back if Britain stays in the EU, says CBREGlobal investment in London office space remained strong at the start of the year, but is expected to dip in the run-up to the EU referendum next month.A total of £3.5bn was invested in central London in the traditionally subdued first three months of the year, on a par with the same quarter in 2015, according to data from the real estate advisory firm CBRE. The figure was down fr
  
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• Deutsche Bahn pushes ahead with plans to float Arriva

  04-05-2016 13:38
  
  German railway group expects to get approval for sale of international arm, which runs many UK train and bus servicesDeutsche Bahn is pushing ahead with plans to float Arriva, its international transport arm that runs many of Britain’s train and bus services, as part of a sell-off to raise an anticipated €4.5bn (£3.6bn) for the ailing German railway group. The supervisory board of the state-owned group is expected to approve plans on Wednesday evening for a part-privatisation of
  
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• Ex-EDF CFO Quit Over Financial Risks From U.K. Nuclear Project - Bloomberg

  04-05-2016 13:25
  
  Bloomberg
  Ex-EDF CFO Quit Over Financial Risks From U.K. Nuclear Project
  Bloomberg
  Former Electricite de France SA Chief Financial Officer Thomas Piquemal said he quit two months ago to highlight the risks of proceeding with the 18 billion-pound ($26 billion) Hinkley Point nuclear power project without additional financing. The ...en meer »
  
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• Secret to making no-smell socks is kids' play, says Devon farmer

  04-05-2016 12:53
  
  Steve Whitley uses the fleece of his young angora goats in hosiery that ‘can be worn for as much as a year without washing’A Devon farmer is claiming to have invented by accident socks that don’t smell and don’t need washing.
  Steve Whitley said the fleece of angora kid goats does not trap smelly bacteria in the same way as scalier wool or cotton fibres, and his mohair socks can be worn for as much as a year without washing. Originally he sold the socks for their comfort a
  
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• Next warns on sales and profits as cold weather chills spring ranges

  04-05-2016 12:52
  
  Cold weather in March and April reduced demand for clothing, fashion retailer said in a trading updateClothing and homeware retailer Next has cut its guidance for annual sales for the second time in less than two months after a disappointing first quarter of the year.Cold, damp weather in March and April reduced demand for clothing over the past six weeks, Next said. Though sales have improved in the past few days as weather has improved, the company said demand for clothes could stay weak. Cont
  
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• Is that Asda price? Three for £3 deal on cereal is usually... 97p A PACK

  04-05-2016 12:47 via feedproxy.google.com
  
  ASDA has been slapped with an official warning over a 'fake' price deal just days after the supermarket giant promised to end misleading promotions.
  
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• Holiday insurance: Check all the details before motoring overseas

  04-05-2016 12:32 via feedproxy.google.com
  
  IF YOU are taking your car to the Continent, check what cover your UK motor insurance policy offers.
  
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• Don’t leave it to last minute: Book your holiday and insurance now

  04-05-2016 12:18 via feedproxy.google.com
  
  THE summer holidays will arrive sooner than you think, so time is running out to put all your plans in place.
  
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• Why it pays to keep track of the score of your credit

  04-05-2016 11:58 via feedproxy.google.com
  
  A SIMPLE slip-up such as failing to pay a bill on time could wreak untold damage on your credit score and make it harder to borrow money.
  
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• New NO DEPOSIT deal for homebuyers as 100 per cent mortgages RETURN

  04-05-2016 11:58 via feedproxy.google.com
  
  FIRST-time buyers will once again be able to buy a home without saving ANY deposit at all, thanks to a new home loan offered by Barclays.
  
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• George Osborne’s tax assault: The screw keeps on turning for buy-to-let

  04-05-2016 11:30 via feedproxy.google.com
  
  THE buy-to-let market is buckling under Chancellor George Osborne’s tax assault as investors say they can no longer make a profit from the investment.
  
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• Buy euros NOW as pound will tumble post-Brexit, sunseekers are told

  04-05-2016 10:33 via feedproxy.google.com
  
  HOLIDAYMAKERS are being urged to buy euros now if they believe Britain will vote to leave Europe in the upcoming referendum.
  
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• Sprint finish: how to solve problems and try new ideas in five days

  04-05-2016 08:00
  
  Google Ventures design partner Jake Knapp encourages teams to hatch an idea and move it from prototype to road-testing within a week
  Google Ventures (GV) design partner Jake Knapp is on a mission: he wants to reduce the meetings, emails and phonecalls employees go through when they are brainstorming and implementing a new idea. It all started when his son was born in 2003. Knapp became obsessed with boosting his productivity so that he could leave the office to spend quality time with his family
  
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• Homes in castles – in pictures

  04-05-2016 08:00
  
  From a 12th-century Northumbrian tower to a Renaissance castle in the Dordogne, these properties are worth playing for keeps Continue reading...
  
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• A disconnect with Vodafone over my sister’s mental illness

  04-05-2016 08:00
  
  Her vital mobile was cut off because of excess charges, but the company has failed to helpMy sister has been a customer of Vodafone for 15 years, and has a £20-a-month dongle and £33-a-month mobile phone contract with the provider.Her phone is her lifeline but, due to serious mental issues and a physical condition, she lacks the ability to understand practicalities, and uses it to watch a lot of videos. I need her to be contactable as I check on her daily, and on occasion have had to
  
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• Record numbers of people in council tax arrears, say charities

  04-05-2016 01:01
  
  Councils are too quick to pass debts to bailiffs, which should be a last resort, say StepChange and Money Advice TrustRecord numbers of people are falling behind with council tax payments, according to debt charities, which are calling for an halt to increasingly “aggressive” use of bailiffs by cash-strapped local authorities. Leading debt adviser StepChange said typical council tax arrears among its clients have jumped to £961 compared with £717 in 2011. It added that, w
  
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• Barclays offers 0% deposit mortgage to home buyers

  04-05-2016 01:01
  
  British high street bank increases the multiple of earnings against which people can borrow on its ‘family springboard’ mortgageThe no-deposit mortgage has returned, with Barclays removing the need for buyers to put down any deposit when buying a home using its “family springboard” mortgage.The deal had previously allowed people to climb on to the property ladder with a 5% deposit, provided that a “helper” – often the home buyer’s parents – p
  
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