Financial news

• Redfern review into housing: worth building on?

  15-11-2016 23:01 via theguardian.com
  
  Taylor Wimpey chief’s Labour-backed study offers little fresh insight, but contains ideas Theresa May could consider pinching It’s a bit cheeky of Pete Redfern to bill his report into the decline of home ownership as “independent”. He is chief executive of Taylor Wimpey, one of the country’s biggest housebuilders, so he doesn’t arrive on the scene free of commercial interests. Never mind. He was asked by the Labour party to lead the study and can’t be bl
  
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• Ticketing websites 'acting like old-fashioned fences', say MPs

  15-11-2016 19:07
  
  StubHub and Ticketmaster questioned by Commons committee investigating claims touts use underhand methods to obtain ticketsStubHub and Ticketmaster have been accused of acting like “old-fashioned fences” as MPs investigate websites that allow touts to make huge profits from illegal ticket sales.The ticketing industry also faces the prospect of being dragged into an HM Revenue & Customs inquiry, amid claims that some touts are not declaring all of the money they make via resale si
  
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• Brexit? I've no idea what's going on either, says Mark Carney

  15-11-2016 18:39 via theguardian.com
  
  Once bitten, twice shy is the phrase that comes to mind as the Bank of England governor appears before MPsThe governor of the Bank of England took a lot of flak during the EU referendum campaign for forecasting an economic downturn in the event of a Brexit vote, so he was hellbent on giving away as little information as possible at his latest appearance before the Treasury select committee. See no evil, hear no evil, speak no evil.“I may be a bit thick,” said the Conservative Kit Mal
  
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• UK house-building hits post-financial crisis high - Reuters UK

  15-11-2016 18:23
  
  Reuters UK
  UK house-building hits post-financial crisis high
  Reuters UK
  A row of terraced houses is seen in Leicester central England October 18 , 2016. REUTERS/Phil Noble. LONDON Britain built the largest number of new homes since the global financial crisis during the year to the end of March, annual figures showed on ...en meer »
  
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• UK has no Brexit plan, claims leaked memo - Financial Express

  15-11-2016 15:56
  
  Financial Express
  UK has no Brexit plan, claims leaked memo
  Financial Express
  The British government has no concrete plan for leaving the EU and may need six more months to form a negotiating strategy for Brexit apart from nearly 30,000 extra staff, a leaked memo published today claimed. The memo, obtained by 'The Times', warns ...en meer »
  
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• More than 7m Britons now in precarious employment

  15-11-2016 14:48
  
  As part of the Guardian series on the UK’s increasingly uncertain world of work, analysis of official figures reveals more than one in five workers could lose their jobs at short or no noticeHelp fund our journalism by becoming a Guardian Supporter or making a contributionThe number of workers in the UK in precarious positions where they could lose their jobs at short or no notice has grown by almost 2 million in the past decade, as businesses insist on using more self-employed workers and
  
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• Richard Branson reveals prototype for supersonic passenger aircraft

  15-11-2016 14:00 via theguardian.com
  
  Virgin Group founder has teamed with startup Boom to offer ‘affordable’ $5,000 flights between New York and London in 3.5 hoursSir Richard Branson on Tuesday heralded the rebirth of supersonic passenger flights with the unveiling of a prototype aircraft promising 3.5-hour flights from London to New York for an “affordable” $5,000 return.The billionaire Virgin Group founder said his Spaceship company would help Denver-based startup Boom build a new generation of supersonic
  
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• Revealed: temp agencies' avoidance scheme costs taxpayers 'hundreds of millions'

  15-11-2016 13:58
  
  In the first of a series on the UK’s increasingly precarious world of work, a Guardian investigation uncovers the use of ‘contrived’ financial arrangements to slash national insurance bills• Help fund our journalism by becoming a Guardian Supporter or making a contributionAn aggressive tax avoidance scheme used by temp recruitment agencies is depriving the taxpayer of “hundreds of millions” of pounds a year, a Guardian investigation has found.A number of agenci
  
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• Pension exit fees capped at 1%

  15-11-2016 13:51
  
  Over-55s wishing to cash in their workplace or personal pension pots early will pay a maximum of 1% in charges from 2017
  Some older workers should see a big fall in the fees they pay to access their company pension cash after the government announced plans to cap charges.
  Ministers are proposing that early exit charges for money purchase workplace pension schemes be capped at 1%. That could make a huge difference to some workers: it has emerged that some employer schemes impose a maximum exit ch
  
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• Joseph Stiglitz: what the US economy needs from Donald Trump

  15-11-2016 13:00 via theguardian.com
  
  Too many Americans feel left behind by globalisation. But Trump is unlikely to pursue the agenda his voters need. This is what he should doDonald Trump’s astonishing victory in the US presidential election has made one thing abundantly clear: too many Americans – particularly white male Americans – feel left behind. It is not just a feeling, it can be seen in the data no less clearly than in their anger. And, as I have argued repeatedly, an economic system that doesn’t de
  
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• Cybercrime: how to protect your business

  15-11-2016 12:57 via theguardian.com
  
  Small firms are targeted seven million times a year. In this webchat, from 1-2pm on 21 November, we’ll discuss how to spot – and stop – attacksIs your business safe from hackers? Two thirds of small businesses have fallen victim to cybercrime in the past two years, costing the UK economy £5.26bn, according to research from the Federation of Small Businesses.The majority of attacks are phishing and spear phishing, where cybercriminals target individuals, rather than comput
  
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• House price growth remains 'stable' at 7.7%: UK HPI - Financial Reporter

  15-11-2016 10:48
  
  Financial Reporter
  House price growth remains 'stable' at 7.7%: UK HPI
  Financial Reporter
  The housing market is seeing a period of "relative stability" as prices grew by 7.7% in the year to September, unchanged from August, according to the latest UK house price index. The index from the ONS and Land Registry says that "while there is some ...en meer »
  
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• UK Financial Conduct Authority Clamps Down On Pension Exit C - London South East (registration) (blog)

  15-11-2016 10:04
  UK Financial Conduct Authority Clamps Down On Pension Exit C
  London South East (registration) (blog)
  ced its final rules on early exit charges for personal pensions, capping them for existing consumers and banning them for new contracts. Alliance News. Back to Alliance News · Share Price, Share Chat, Stock Market news at lse.co.uk. FREE Member Servicesen meer »
  
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• Meet the man helping Mivan weather the financial storm - Belfast Telegraph

  15-11-2016 09:58
  
  Belfast Telegraph
  Meet the man helping Mivan weather the financial storm
  Belfast Telegraph
  It's rebirth enabled it to secure a £2.5m deal to fit-out the inside of luxury train the Belmond Grand Hibernian, Ireland's answer to the Orient Express. But in January 2014 things looked bleak for Antrim joinery firm Mivan. The economic downturn had ...
  
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• UK's Financial Conduct Authority Introduces Cap On Early Exit ... - Exchange News Direct

  15-11-2016 09:06
  UK's Financial Conduct Authority Introduces Cap On Early Exit ...
  Exchange News Direct
  The Financial Conduct Authority (FCA) has today announced its final rules on capping early exit charges for consumers eligible to access the government's ...en meer »
  
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• Financial reasons helped Hughes pick England over Fiji - Eurosport.co.uk

  15-11-2016 08:37
  
  Financial reasons helped Hughes pick England over Fiji
  Eurosport.co.uk
  Fiji-born forward Nathan Hughes has admitted that the financial benefits of representing England played an important factor in the decision to pledge allegiance to his adopted nation. Hughes, who qualifies for England via the three-year residency rule ...en meer »
  
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• What makes an investor sign the cheque?

  15-11-2016 08:00 via theguardian.com
  
  A seasoned investor offers valuable insights to startup entrepreneurs about to take the daunting step of pitching for finance
  Investing in startups is exciting. Having been on both sides of the negotiation table, it’s given me great insight in the emotional, financial and administrative side effects of having a “good idea”. My mentor and I lead an investment club of about 30 high-net worth individuals who are interested in making use of their personal cash, industry knowledge a
  
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• Only a three-day window to return clothes from H&M’s Kenzo range

  15-11-2016 08:00
  
  We queued to get Christmas gifts from the designer collaboration, but discovered there’s no extended exchange or refund dateI queued in the early hours outside H&M to buy some of its new range by designer Kenzo. I spent just over £500 on items for my three daughters, intended as Christmas gifts.I was disappointed that the receipt showed that for Kenzo items there is only a three-day window for returns or exchanges. Yet the same receipt says H&M has extended its refund policy
  
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• A million artisanal gold miners in Madagascar wait to come out of the shadows

  15-11-2016 07:00 via theguardian.com
  
  Small-scale gold mining has been given an unexpected boost as a result of a political coup and fall in commodity pricesThe downturn in commodity prices has hit the mining industry globally but in Madagascar, it coincided with the end of a five-year period of turmoil, precipitated by a coup in 2009. Any hopes for the sector to propel itself back on the development track were dashed.“Lots of mining companies came to Madagascar to explore [before 2009] but then we had the political crisis, wi
  
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• Drought, floods and water stress cost companies $14bn

  15-11-2016 06:01 via theguardian.com
  
  A survey of 600 global companies released at the Marrakech climate change conference shows they are still not doing enough to mitigate water risksDroughts, water scarcity and stricter environmental regulations cost businesses a reported $14bn (£11bn) this year, up from $2.6bn in 2015. Yet companies still aren’t doing enough to protect themselves from water risks, according to a new report. Compiled by environmental non-profit CDP and released Tuesday at the climate summit in Marrakec
  
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• UK slowdown will give chancellor little scope for tax cuts, says PwC

  15-11-2016 01:01 via theguardian.com
  
  Report predicts Philip Hammond will be prudent in next week’s autumn statement and forecasts slowing GDP growthA slowdown in the UK economy will hit tax receipts and leave the chancellor with little wriggle room for giveaways at next week’s autumn statement, a new report warns.Publishing new forecasts for GDP growth to slow next year as the Brexit vote bites, the consultancy firm PwC said Philip Hammond could afford some spending on big projects such as housing and roads if he change
  
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• Office construction in central London hits eight-year high

  15-11-2016 01:01 via theguardian.com
  
  Amount of office space being built rises to 14.8m sq ft as key business districts shrug off Brexit jittersConstruction work in central London has reached the highest level for eight years, demonstrating the resilience of the city’s key business districts despite warnings that companies will leave because of Brexit.The amount of office space being built in central London stands at 14.8m sq ft across 120 projects, up more than 4% compared with six months ago and before the EU referendum. Con
  
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• Intertain Announces Third Quarter 2016 Financial Results - PR Newswire UK (press release)

  15-11-2016 00:49
  
  Intertain Announces Third Quarter 2016 Financial Results
  PR Newswire UK (press release)
  The Intertain Group Limited ("Intertain" or the "Company") (TSX:IT) today announced its financial results for the three and nine months ended September 30, 2016. All amounts are stated in Canadian dollars unless otherwise noted. Q3 Financial and ...en meer »
  
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