Financial news

• UK should stop 'sitting back' in EU, says Jeroen Dijsselbloem

  02-06-2016 23:00
  
  Dutch finance minister and Eurogroup president wants UK to play a stronger role if Brexit is rejected on 23 JuneOne of the eurozone’s most senior figures has called on Britain to lead in Europe and go beyond defending the interests of the City of London.
  Jeroen Dijsselbloem, the Dutch finance minister and president of the Eurogroup, wants the UK to play a stronger role to make the European Union a success if Britain votes to stay in the 23 June referendum.Continue reading...
  
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• The Guardian view on the high street: help urgently needed | Editorial

  02-06-2016 20:29
  
  The collapse of BHS may mark a new low in the fortunes of traditional British retail. Businesses, and the people who work in them, need a creative responseBritish Home Stores, for nearly a hundred years a stalwart of almost every high street in the land, is to close. Despite upbeat reports of bank holiday trading and rumours of potential purchasers, the attempt to find a buyer has failed. As stocks run out, the shutters will come down, and 11,000 people who are directly employed in 163 stores wi
  
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• Predictions of recession if UK leaves EU based on 'bizarre assumptions'

  02-06-2016 19:54
  
  Economists for Brexit group claims that downturn would be avoided if Britain removed all trade barriers after leaving EUEconomists campaigning for Britain to leave the European Union have accused the Treasury and international institutions of “groupthink” in a report that says growth would be boosted if all trade barriers were removed after a leave vote in this month’s referendum.The group Economists for Brexit (EfB) said consumers and businesses would benefit from lower prices
  
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• Oil production stays level as Opec summit produces no deal

  02-06-2016 19:42
  
  The Vienna talks went largely according to the script: the Saudis and Iranians at loggerheads, meaning any agreement was wishful thinkingThe failure of the once mighty oil cartel Opec to reach a production-curbing deal was hardly a big surprise. Saudi Arabia wanted to limit output in order to underpin crude on global markets, but for both financial and political reasons there was never the remotest possibility that Iran would agree.No longer a pariah after the lifting of western sanctions, Iran
  
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• How will Sadiq Khan help London's private renters?

  02-06-2016 19:13
  
  The capital’s new mayor is starting to flesh out some of his manifesto pledges in a key area of housing policySadiq Khan’s approach to winning his famous London mayor election victory suggested he doesn’t fight battles he cannot win. The same principle seems to inform his policies for improving the capital’s private rented housing sector, where increasing numbers of Londoners reside at high and often punishing expense. On Tuesday, Khan visited private renters in Hackney a
  
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• High street blues: British retail casualties since 2011

  02-06-2016 19:11
  
  From BHS to Phones 4U, multiple chains have sunk without trace thanks to tough trading conditions and an online shopping surge
  May – BHS is to disappear from British high streets after nearly 90 years, with the loss of 11,000 jobs, after a rescue deal falls apart. Continue reading...
  
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• Train ticket machines need to use clearer language, study finds

  02-06-2016 19:06
  
  ‘London terminals’ and ‘any permitted’ among confusing terms highlighted in regulator’s report which finds jargon is rifeJargon is widely used by train operators’ ticket machines at Britain’s railway stations, the industry’s regulator has said as it published a study that found more needs to be done to eradicate confusing terminology when passengers are buying tickets.Phrases highlighted for concern by the Office of Rail and Road (ORR) included &ld
  
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• Want to leave an inheritance to your loved ones? You may be out of luck

  02-06-2016 19:01 via feedproxy.google.com
  
  GROWING numbers of people will be unable to leave an inheritance to their loved ones because they have already handed over their money to pay for school fees and house deposits, according to research.
  
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• Turkey 'wins' 2016 house price Championship

  02-06-2016 19:01
  
  Property values have jumped by more than 65% in the past four years
  Turkey, the Republic of Ireland, Iceland and England are unlikely semi-finalists for this year’s European Championship finals, but they take the first four places in a league of house price rises since 2012. Figures from property firm Knight Frank show that in the four years since the Championships last took place, prices in Turkey have jumped by 65.6%. This is followed, at some distance, by the Republic of Ireland, where
  
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• Top economists blast Government 'deceit' over Brexit and reveal risks of staying in Europe

  02-06-2016 19:01 via feedproxy.google.com
  
  TOP economists and politicians today joined forces to blast the establishment's "deceit" over what would happen to Britain's economy outside of the European Union .
  
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• US proposes new rules for payday loan industry to curtail borrower debt

  02-06-2016 18:05
  
  Consumer Financial Protection Bureau seeks to require lenders to check if people can afford to repay as critics accuse agency of ignoring credit needs of poorThe US government announced plans on Thursday to regulate the controversial $38.5bn payday loan industry. Regulation of the high-interest, low-dollar loan industry has until now been left to individual states. Under the new rule, lenders would be required to verify income of those taking out loans to ensure that they can afford to repay the
  
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• Nationwide cuts interest rates on cash Isa

  02-06-2016 17:57
  
  Building society becomes latest financial provider to cut rates, as diminishing returns mean insititutions fall out of love with savings schemeNationwide has become the latest big-name savings provider to cut the interest rates on its range of cash Isas, to reflect what the building society says is the general decline in returns across the market.Despite no change in the Bank of England base rate, on 1 June Nationwide imposed cuts of up to 0.5% across the board – including online Isa deals
  
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• Britain's first PLASTIC BANKNOTE featuring Winston Churchill revealed TODAY

  02-06-2016 14:07 via feedproxy.google.com
  
  BRITAIN's first plastic banknote has been officially unveiled today featuring Sir Winston Churchill.
  
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• Let us give silent thanks for M&S’s decision to switch off the music | Anne Perkins

  02-06-2016 14:04
  
  Muzak is an aural air-freshener that cuts us off from the natural sounds of the world around us. Its absence can only bring quiet reliefStalin was keenly aware of the power of music, or at least of the inherent challenge of free expression to authoritarian rule. In 1936, around the time of the start of the purges, he condemned Dmitri Shostakovich’s opera Lady Macbeth of Mtsensk. For two years it had been playing around the world to packed houses. But Pravda, Stalin’s mouthpiece, decl
  
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• New plastic £5 note launched plus six months of buying nothing

  02-06-2016 13:25
  
  Also: homebuyers may be paying too much for insurance, new EU car hire rules in Switzerland and some homes by the seaHello 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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• Plastic fiver: £5 note switched to polymer from paper – video

  02-06-2016 13:18
  
  The Bank of England’s first plastic banknote, the new Winston Churchill fiver, is unveiled on Thursday. It forms part of the Bank’s switch to polymer banknotes, which will end 320 years of paper money. Manufactured from a transparent plastic film and coated with an ink layer, polymer banknotes are seen as cleaner, more durable and more secure than paperWinston Churchill plastic £5 note ends trail of paper moneyContinue reading...
  
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• Cuts to public financial aid making it harder than ever to get a college degree

  02-06-2016 12:00
  
  The cost of attending college has grown at a far faster clip than median household incomes, creating a barrier for many US familiesAcross the country, proud parents are watching their children, mortarboards firmly attached to their heads, stride onto a stage to collect their college diplomas. Graduation is the reward – finally – for an investment that can cost an average of anywhere from $36,000 to $144,000 and leave the student and their families struggling with debt that could take
  
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• City news: Supermarkets, Chrysalis records, Halfords and CT Capital

  02-06-2016 11:18 via feedproxy.google.com
  
  BRITAIN’S big four supermarkets are continuing to lose sales to emerging rivals despite further signs of a revival at Tesco.
  
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• London Stock Exchange's merger deal to cost jobs

  02-06-2016 10:55 via feedproxy.google.com
  
  THE London Stock Exchange’s £21billion merger with Deutsche Boerse to create a European trading powerhouse could lead to 1,250 jobs being axed from the combined group, it was revealed yesterday.
  
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• My year of buying nothing – six months in

  02-06-2016 10:52
  
  I felt isolated and lonely and I wondered daily whether I’d made a huge mistake in setting myself the challenge – but then something happenedSix months ago I made a pledge to jump out of the consumer rat race and embark on a no spend year, and I can honestly say the past 183 days have changed my life for the better. Deciding to stop spending money was a shock to the system but one that I, and my spendthrift ways, sorely needed.Related: Why I'm buying nothing for a year – no clo
  
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• The divorce app that lets you break up without breaking the bank

  02-06-2016 08:15
  
  Divorce can be a costly legal battleground as well as an emotional ordeal. But a new app, amicable, could provide a better wayBreaking up may be hard to do but the developers of a new app hope to at least make it much less expensive. As long as both parties are reasonable enough to communicate with each other, rather than lawyers, the founders of amicable claim the groundwork for divorce can be completed for “tens of pounds” per month rather than thousands in legal bills.
  The app com
  
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• EUROZONE on the BRINK: Europe's stock markets NOSEDIVE as Bank policies fail

  02-06-2016 03:53 via feedproxy.google.com
  
  STOCK markets across Europe plunged into the red yesterday amid growing fears over the economy and the failure of the European Central Bank .
  
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