Financial news

• London’s standing in global finance at risk as City faces loss of ‘EU passport’

  25-06-2016 23:29
  
  ECB warning highlights risk of damage to London’s standing as global financial centreThe shock waves from the Brexit vote continued to spread across the City of London on Saturday as the financial heart of the capital – a major contributor to Britain’s economy – was put on notice that it is unlikely to retain a key privilege of EU member states.Banks based in London rely on an “EU passport” to operate freely across Europe’s financial markets while having
  
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• UK business leaders caution against hasty EU exit

  25-06-2016 18:08
  
  Heads of commerce groups say they do not like the uncertainty Brexit has heralded but nor do they want a rushed dealUK business leaders have cautioned against kickstarting the process to leave the EU too quickly, after European governments piled pressure on Britain to leave the bloc as soon as possible.Acknowledging that the climate of uncertainty that came with the referendum result was bad for the economy, the heads of the UK’s biggest business groups urged the government not to rush to
  
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• EU Financial-Services Chief Hill Resigns After U.K. Brexit Vote - Bloomberg

  25-06-2016 17:43
  
  Bloomberg
  EU Financial-Services Chief Hill Resigns After U.K. Brexit Vote
  Bloomberg
  Jonathan Hill, sent to Brussels by U.K. Prime Minister David Cameron less than two years ago, resigned as the European Union's financial-services chief in the wake of Britain's vote to secede from the bloc. “As we move to a new phase, I don't believe ...en meer »
  
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• Shares down, jobs down, prices up? Business comes to terms with Brexit

  25-06-2016 17:00 via theguardian.com
  
  Corporate leaders have a difficult course to plot in the wake of the referendum. What are the UK’s business brains thinking?To some it is a political disaster that will bring financial Armageddon. To others, Britain’s vote to leave the EU represents a golden opportunity. Business leaders want to make the best of it, even though most wanted to remain. But the experts so derided by Michael Gove are still concerned that the uncertainty created by leaving, and the prospect of two years o
  
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• Hemp is eco-friendly. So why won't the government let farmers grow it?

  25-06-2016 16:00
  
  In July, Congress will consider a bill to legalize industrial farming of hemp in the US. Hemp farmers around the country say there are still many hurdles to overcomeRob Jungmann wants to see everyone in a hemp t-shirt by 2020. That’s the tagline for his hemp-loving company Jungmaven. The conservationist and entrepreneur wants to convince Americans that hemp should be in their wardrobes as much as cotton.And his campaign comes at the right time. Continue reading...
  
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• Brexit hangover: 3 huge headaches facing the U.K. - CNNMoney

  25-06-2016 15:45
  
  CNNMoney
  Brexit hangover: 3 huge headaches facing the U.K.
  CNNMoney
  Britain's vote to exit the European Union leaves the country nursing an enormous financial hangover. Shares in the country's biggest companies slumped Friday, bank stocks crashed, and the pound suffered its biggest one-day fall on record. Growth ...
  UK financial sector reels after voteThe Japan News
  Britain's financial sector reels after Brexit bombshellRTE.ie
  UK “leave” vote batters financial marketsWorld Socialist
  
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• UAE financial institutions unaffected by UK-Europe uncertainty: Central Bank - Emirates 24|7

  25-06-2016 14:44
  
  Emirates 24|7
  UAE financial institutions unaffected by UK-Europe uncertainty: Central Bank
  Emirates 24|7
  A cashier helps a customer at Myers of Keswick, a British grocery store, June 24, 2016 in New York City. British citizens voted in a referendum (also known as the Brexit) to leave the European Union which has caused uncertainty across the world.en meer »
  
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• City news: BA's departure turbulence, Poundland snub and merger continues

  25-06-2016 13:26 via feedproxy.google.com
  
  SHARES in the owner of British Airways nosedived 119p to 409p yesterday as it became the first major company to warn that the vote to leave the EU would dent profits.
  
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• Brexit likely to raise cost of clothing and food, warns Next boss

  25-06-2016 13:21
  
  Lord Wolfson says fall in value of pound will increase sourcing costs for retailers who import goods to UKThe boss of one of Britain’s biggest high street retailers has signalled that clothing prices could rise next year as the impact of Brexit boosts inflation, amid warnings that food prices could also climb. Lord Wolfson, the chief executive of Next and a prominent Vote Leave supporter, spoke against the backdrop of a collapse in the value of the pound that will increase sourcing costs f
  
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• City news: UK market fightback follows pound plummet

  25-06-2016 13:13 via feedproxy.google.com
  
  THE pound plunged but leading UK shares staged a fightback as global markets reeled from the UK’s vote to leave the EU.
  
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• Summer camp with an open bar: retreats for stressed-out adults are big business

  25-06-2016 13:00 via theguardian.com
  
  It’s not just for kids anymore: summer camps tailored for adults looking to relive some of their childhood have become a million-dollar industry in the USMarshmallows toasting on an open fire beneath a star-filled sky, kayaks, hammocks, mosquito bites, first kisses. Who doesn’t love camp? Nostalgic adults can now rejoice: it’s not just for kids anymore.Adult camps are a booming business in the US as stressed adults head for the hills to unleash their inner child. On a hot but b
  
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• Brexit wipes $2tn off markets as Moody's lowers UK credit rating outlook

  25-06-2016 10:00
  
  Amid concerns that the EU referendum result risks sparking fresh financial crisis, Bank of England governor says it is ready to do whatever is needed Emergency meetings as EU pushes for UK to act – liveThe ratings agency Moody’s has lowered the outlook for the UK’s credit rating from stable to negative amid what it said would prove a prolonged period of uncertainty following Britain’s vote to leave the European Union.Moody’s said the unpredictability of British deci
  
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• How drones are sparking a transport revolution – in pictures

  25-06-2016 09:00
  
  You may have seen miniature drones flying above your neighbourhood and parks – but the ways in which they can be used go far beyond the casual and recreational. Here is how they could affect the transport industry of the futureContinue reading...
  
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• The interest-only mortgage is back, but you’ll need to clear a few hurdles

  25-06-2016 08:00 via theguardian.com
  
  First-time buyers will benefit from lower monthly payments, but they will need to have a repayment strategyThey almost became extinct in the wake of the credit crunch, and were once branded a “ticking timebomb” by the City regulator. However, interest-only mortgages have begun moving back into the mainstream.This week an Essex-based building society announced that teachers, doctors and lawyers are among the professions being offered the chance to sign up for a mortgage on an interest
  
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• Take out a mortgage … and walk away with a freebie

  25-06-2016 08:00 via theguardian.com
  
  From buying a house to bank accounts, energy companies and insurance, firms are increasingly offering tempting incentivesIf you’re looking for a mortgage, how about one with a free iPad, laptop or washing machine thrown in? That’s effectively the deal on offer from the Halifax, which this week announced it is offering first-time buyers and home movers a £500 Currys PC World gift card when they successfully apply for a mortgage between 20 June and 14 August.If that doesn’t
  
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• Premium-rate service drained my Virgin mobile balance – but I hadn’t signed up

  25-06-2016 08:00 via theguardian.com
  
  I have lost about £20 to people who had no right to take my moneyI put £20 on my pay-as-you-go Virgin mobile account. When I checked the balance a couple of weeks later I found I only had £1.28 credit, which was a big surprise as I don’t use it very much. I then noticed a text message informing me I could unsubscribe to a firm I had never heard of, and another saying that I didn’t have enough funds for the service to continue.I contacted Virgin and got through to a
  
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• It’s time to end the great letting agency rip-off in England and Wales

  25-06-2016 08:00 via theguardian.com
  
  Nothing infuriates Generation Rent more than high fees charged by agentsThe letting agency business is a highly profitable one. Each one of the agents for Foxtons who spin around London in their Vauxhall Adams (those branded Minis are very last year) rake in an average revenue for their company of £113,000 a year. The profit margin on lettings at the company is a juicy 30%. Other letting agents enjoy similarly wide margins: LSL Property Services, the UK’s biggest independent chain, w
  
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• Is your car the most stolen model in England and Wales?

  25-06-2016 08:00 via theguardian.com
  
  Hi-tech thieves are using computers to outsmart electronic security systems, with the Audi S3 and Land Rover Defender most at riskAfter two decades of decline, the number of cars stolen in England and Wales rose by 9% in 2015, with 75,656 incidents reported by unlucky motorists.Luxury cars stolen by organised gangs feature prominently on the list of stolen cars, but the humble Ford Escort makes an appearance in the top 10 even though it fell out of production more than a decade ago. Continue rea
  
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• Beware your breakdown cover going up

  25-06-2016 08:00 via theguardian.com
  
  Car owners should check renewal notices to avoid a surprise premium riseCar owners who buy annual breakdown cover are being warned to check their renewal notices closely after Direct Line more than doubled one Leeds woman’s annual premium without explanation.Sue Sharp*, who also buys her home and car insurance from Direct Line, contacted Guardian Money this week to ask if other readers had complained about “ridiculous” price rises. Continue reading...
  
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• Are there any non-iron shirts and blouses that don’t look terrible?

  25-06-2016 08:00 via theguardian.com
  
  My wife and I need to look smart but we both loathe ironingEvery week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.This week’s question: Continue reading...
  
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• Give us our fees back Foxtons, says the man lining up an £80m lawsuit

  25-06-2016 07:59 via theguardian.com
  
  Tenants could recover past fees if a legal fight against the lettings agency is successful – potentially paving the way for more suits against other heavyweight consumer firmsFoxtons is facing an £80m “class action” lawsuit that if successful could force the giant estate agency to pay back hundreds of pounds in fees and charges to every tenant who has rented a property from them.Michael Green, whose law firm CaseHub is behind the group action, has obtained legal opinions
  
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• UK “leave” vote batters financial markets - World Socialist Web Site

  25-06-2016 07:40
  
  News 12 Connecticut
  UK “leave” vote batters financial markets
  World Socialist Web Site
  Thursday's vote in the UK to leave the European Union triggered a global stock sell-off Friday, prompting fears of a global market crash, recession or both. Despite polls showing a slight lead for the leave campaign in the week leading up to the vote ...
  Financial advisor explains fiscal risks of UK's 'Brexit'News 12 Connecticut
  Financial caution urged after UK exitNapoleon Northwest Signalalle 13
  
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• Brexit puts UK-China financial services linkages at risk - Reuters UK

  25-06-2016 07:38
  
  Reuters UK
  Brexit puts UK-China financial services linkages at risk
  Reuters UK
  HONG KONG Britain's shock vote to leave the European Union could derail a raft of financial services projects agreed between China and the United Kingdom, which for years has marketed itself to Beijing as its best economic and financial friend in Europe.
  Financial markets plunge, Cameron to resign after U.K. votes to exit blocMilwaukee Journal Sentinel
  Brexit hangover: 3 huge headaches facing the U.K.CNNMoney
  Britain
  
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• Brexit: What will happen to house prices now Britain has voted to leave the EU?

  25-06-2016 07:37 via feedproxy.google.com
  
  BREXIT has sent the shockwaves through the global economy and prompted a huge drop in value of the pound. But what will happen to house prices?
  
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• How to make money from Brexit: YOU could make a fortune from EU referendum

  25-06-2016 06:18 via feedproxy.google.com
  
  INVESTORS who position themselves carefully now could now reap the rewards from the stock market as Britain leaves the European Union .
  
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• Santa Barbara Financial Expert Weighs in on UK Exit - KEYT

  25-06-2016 06:03
  
  KEYT
  Santa Barbara Financial Expert Weighs in on UK Exit
  KEYT
  On June 23, the United Kingdom voted to leave the European Union. The controversial vote had an immediate effect on the world economy. Related Content. Santa Maria Mayor Patino Announces Re-Election Bid · Shake Up in Arroyo Grande as City ...
  
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• Germany, USA and Canada ALL say they want special trade deals with post-Brexit Britain

  25-06-2016 05:42 via feedproxy.google.com
  
  GERMANY has joined the United States and Canada in reaching out to Britain to stress the importance of trade deals with the UK outside of the European Union .
  
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• Should you buy euros now? Pound plunges after hitting highest level of 2016

  25-06-2016 05:36 via feedproxy.google.com
  
  THE pound surged to its highest level this year on Thursday, before crashing to its lowest level since 1985 as Britain voted to leave the European Union in the historic referendum.
  
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• Financial advice following UK's Brexit vote - WLBZ2.com

  25-06-2016 05:22
  
  WLBZ2.com
  Financial advice following UK's Brexit vote
  WLBZ2.com
  (NEWS CENTER) — The United States is likely to be directly affected by Britain's decision to leave the European Union. The concerns range from falling 401Ks to economic stability and military alliances. No one can say with certainty what's going to ...en meer »
  
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• Brexit: As UK walks alone, India shrugs off impact - Financial Express

  25-06-2016 03:17
  
  Financial Express
  Brexit: As UK walks alone, India shrugs off impact
  Financial Express
  The UK's resolve to walk alone could have a “minimal” short-term impact on India's real economy while policy action would promptly tame temporary market volatility... By: FE Bureau | New Delhi | Updated: June 25, 2016 8:34 AM. Arvind Subramanian ...en meer »
  
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• Hagerstown financial expert urges calm after UK vote - Herald-Mail Media

  25-06-2016 01:03
  
  Herald-Mail Media
  Hagerstown financial expert urges calm after UK vote
  Herald-Mail Media
  A television screen on the floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Friday, June 24, 2016. The DJIA dropped 611 points, or 3.4 percent, to 17,399 in heavy trading Friday. Stocks plunged in the ...en meer »
  
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• Brexit panic wipes $2 trillion off world markets - as it happened

  25-06-2016 00:55
  
  World markets have slumped in Europe, America and Asia, as economists predict that Brexit vote will push UK into recessionMoody’s puts UK on negative outlookWall Street suffers biggest fall in 10 monthsEuropean markets battered after Brexit voteBank of England pledges £250bn liquidity
  Pound hit 31-year low this morning 11.55pm BSTIt’s almost 24 hours since it first became clear that David Cameron’s EU referendum had not gone as the PM had planned. That realisation has tri
  
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• It's game, set and match for these homes with tennis courts – in pictures

  25-06-2016 00:45 via theguardian.com
  
  Serve up an ace in these properties from Staffordshire to PembrokeshireContinue reading...
  
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