Financial news

• Data on over 130,000 Three mobile customers compromised in breach

  18-11-2016 20:50 via theguardian.com
  
  Three men arrested for alleged fraudulent use of company’s phone upgrade system in attempt to steal handsetsCustomer information from more than 130,000 users of the Three mobile network has been compromised in a cyber security breach, the mobile operator has said.
  Three boss, Dave Dyson, said in a statement that all affected customers were being contacted individually and that while personal information had been accessed, no financial information had been compromised. Continue reading...
  
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• The Guardian view on the autumn statement: a break with past thinking please | Editorial

  18-11-2016 20:26 via theguardian.com
  
  The prime minister promised the country’s working poor more than warm words and gesture politics. Next week offers her a chance to prove itEver since she moved into No 10, Theresa May has had one simple pitch: I am not a born-to-rule, out-of-touch Conservative. It was the theme of her first speech as prime minister and it will be one of the ways by which she is judged. Well, now she has an opportunity to prove it. Next week’s autumn statement is her first big chance. It cannot be the
  
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• Amazon v Donald Trump? Jeff Bezos may soon face his biggest challenge yet

  18-11-2016 20:13 via theguardian.com
  
  The president-elect has been verbally sparring with Bezos for months. Now things could get a lot tougher for AmazonAmazon will almost certainly enjoy its biggest ever day on Black Friday next week.The discount shopping event will help the American online retailer to continue its run of 22 years of unbroken and dramatic sales growth since it was founded in 1994 by Jeff Bezos. It is now valued at more than $375bn (£304bn), making it one of the biggest companies in the world. Continue reading
  
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• Bringing home the bacon? Price of pork hits two-year high

  18-11-2016 20:12 via theguardian.com
  
  Analysts report 18% increase in wholesale price of pork as food manufacturers and retailers face commodity price swings and weak sterling after Brexit votePigs in blankets might have to be rationed round the Christmas dinner table next month after the price of pork hit a two-year high.Analysts are reporting an 18% increase in the wholesale price of pork, with the surge expected to have a knock-on effect on the price of bacon and sausages in supermarkets in the coming weeks. Continue reading...
  
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• Exploitation and lies in the new world of work | Letters

  18-11-2016 19:58 via theguardian.com
  
  Felicity Lawrence’s piece (Trump is right: Nafta is a disaster. But US workers aren’t the big losers, 18 November) chimes with my experiences from the mid-1980s. My company, IBM, produced PCs in state-of-the-art plants in Greenock and Havant, for which it won export awards and its chair got a knighthood. Then, on a globalisation tide, both UK plants were shut, well-paid workers lost their jobs and manufacturing was moved, for cheaper labour, to Mexico – where, typically, plants
  
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• Mario Draghi hints eurozone stimulus will last - as it happened

  18-11-2016 19:12 via theguardian.com
  
  The president of the central bank has signalled monetary support will persist amid a fragile eurozone recovery and weak inflationary pressureEuro hits record losing streak against the dollarItaly leads European markets lowerJim O’Neill joins Osborne’s thinktankBank of England deputy defends low ratesGlobal bonds rack up biggest loss in more than 25 years 6.11pm GMTThe oil price has been dominated in recent days by the strength of the dollar weighing it down, and hopes of an agreement
  
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• Let’s move to Harringay, north London: ‘It’s up and come’

  18-11-2016 17:30
  
  Not as affordable as it was, but it still has fantastic Turkish grocers, green spaces and sought-after town housesWhat’s going for it? Harringay was my introduction to London. It was an inauspicious start. I was hoping for Mayfair, or Islington, at a push. (What can I say? I was young and foolish.) I’d never live here, past Finsbury Park? But here I lived in a £60-a-week room on Hermitage Road. It had a carpeted toilet mat around the loo. Still, Harringay won me over. It&n
  
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• Lighter way to enjoy Maltesers? Mars shrinks sharing bags by 15%

  18-11-2016 17:16 via theguardian.com
  
  Mars downsizes the bags from 121g to 103g, joining more gappy Toblerone as latest examples of ‘shrinkflation’It started with bigger gaps between Toblerone’s chunky chocolate peaks, but now the Maltesers have started to disappear too.Food manufacturing giant Mars has shrunk its sharing bags of Maltesers by 15% as it looks for ways to offset rising production costs. It is the latest example of what is being described as “shrinkflation” in the food industry, where pack
  
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• SSE to freeze energy prices this winter

  18-11-2016 16:01 via theguardian.com
  
  Energy supplier promises it will not hike standard prices until at least April 2017, piling pressure on rivals to follow suitSSE, one of Britain’s “big six” energy suppliers, has frozen its standard prices this winter, putting pressure on its rivals to do the same. British wholesale gas and electricity prices have risen about 30% and 40% respectively since June, along with a bounceback in other commodities such as coal, leading to speculation that some electricity suppliers cou
  
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• Staples sale takes jobs affected by retail failures in 2016 to 26,000

  18-11-2016 13:59 via theguardian.com
  
  Sale of US stationery chain’s UK business brings jobs figure to 25,933 – highest since 2012 and four times last year’s numberThe sale of Staples has taken the number of UK retail jobs affected by business failures this year to almost 26,000 – the highest figure since 2012 when the sector was still reeling from the recession.With six weeks of 2016 remaining, 22 medium and large retailers employing 25,933 people have failed, according to the Centre for Retail Research (CRR)
  
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• Buy-to-let lending falls as tougher rules bite

  18-11-2016 13:43
  
  Nationwide says new affordability tests introduced ahead of tax changes have made life more difficult for landlordsThe first signs that the buy-to-let boom could be coming to an end have emerged in figures from the Nationwide building society, which showed that lending to landlords went into the reverse over the past six months.Nationwide’s buy-to-let subsidiary, the Mortgage Works, lent £2.8bn in the six months to September 2016, down from £2.9bn in the same period a year earl
  
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• Shake-up of fund managers proposed by UK financial watchdog - Belfast Telegraph

  18-11-2016 13:41
  
  Belfast Telegraph
  Shake-up of fund managers proposed by UK financial watchdog
  Belfast Telegraph
  The UK's financial watchdog has outlined a major shake-up for the fund management industry to ensure investors get a good return in an era of low-interest rates. The Financial Conduct Authority (FCA) said investors should be offered an "all-in fee" so ...
  UK Financial Conduct Authority seeks to regulate investment consultantsIPE.com
  UK's Financial Conduct Authority kicks some asset managementBanking
  
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• Financial Woes Cause The Highest Drop In Wellbeing Scores For UK Adults - Huffington Post UK

  18-11-2016 13:19
  
  Huffington Post UK
  Financial Woes Cause The Highest Drop In Wellbeing Scores For UK Adults
  Huffington Post UK
  “How are you today?” It's a question we ask on a daily basis without giving the answer a second thought. “Not bad,” we reply. Or “could be better”. But what does “better” mean exactly? And what's the key to achieving it? As a health and wellbeing ...
  
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• Puppy power: the £10.6bn industry paying off for small businesses

  18-11-2016 12:56 via theguardian.com
  
  Research from American Express has found the UK’s dog owners spend an average of £1,252 on their pets every year. More than a quarter (26%) say they spend more money on their pets now than they did five years ago. Much of that money goes to independent small businesses, with owners pointing to the quality and personalisation of service as the main benefitsContinue reading...
  
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• Volkswagen to axe 30,000 jobs worldwide

  18-11-2016 12:32 via theguardian.com
  
  German carmaker says cuts will make it leaner and more efficient as VW attempts to bounce back from emissions scandalVolkswagen is to axe 30,000 jobs as part of a restructuring designed to help the German carmaker recover from the diesel emissions scandal.The cuts will be in the core VW business, as opposed to its other brands such as Porsche, Audi and Seat, and 23,000 will be in Germany. There will also be job cuts in Brazil, Argentina and North America. Continue reading...
  
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• FCA to shake up fund management to get better deal for investors

  18-11-2016 12:28
  
  Regulator urges firms to publish ‘all-in fee’ as it recommends review of investment consultant marketFund management firms are facing a shakeup after the City regulator published a hard-hitting critique of the “sustained, high profits” the industry has earned from savers and pension funds over the years.
  The major companies, which manage £7bn of assets, should charge a single fee, the Financial Conduct Authority said, so investors could see how much they were being
  
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• Celebrating toilets from Madagascar to Ghana - in pictures

  18-11-2016 11:51 via theguardian.com
  
  ‘Before we built toilets, there were faeces all over the village,’ says Valentina Horacio from rural Angola. She and other women and children from the slums of Nairobi to northern Ghana are proud of the new equipment which will protect them from disease. Tomorrow is World Toilet Day, set up by the UN in 2013 to bring attention to the global sanitation crisis Continue reading...
  
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• Can Trump strike the right balance on monetary policy?

  18-11-2016 11:42 via theguardian.com
  
  If the Fed becomes too hawkish too soon, it will undermine the goal of creating jobs and boosting blue-collar incomesWhen Donald Trump defeated Hillary Clinton in the US presidential election, the market’s immediate negative response was to be expected. But by the next day, the market’s downward turn had already reversed itself.US equities and bond yields rallied after Trump delivered a victory speech that seemed to signal that he was tacking to the centre, which investors had origin
  
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• UK's top companies still falling short on governance reporting - Financial Director

  18-11-2016 11:26
  UK's top companies still falling short on governance reporting
  Financial Director
  ALMOST HALF of FTSE 250 companies fail to meet their governance requirements, with only one in five public companies report adequately on culture, a new study has found. Shareholder engagement is also deteriorating, hitting a five-year low with only ...
  
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• Low interest rates have not driven inequality, says Bank of England deputy

  18-11-2016 11:09 via theguardian.com
  
  Ben Broadbent also stresses Bank will carefully balance controlling inflation and supporting economy in futureA long spell of ultra-low interest rates has not driven a rise in inequality in the UK, the deputy governor of the Bank of England has said, rebuffing criticism that central bank policy had hurt some households.Ben Broadbent also reinforced the recent message from the Bank that it would tread carefully in setting interest rates over the coming months as it deals with a trade-off between
  
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• Three UK admits hack but says 'financial details are not at risk' - TechRadar

  18-11-2016 10:31
  
  TechRadar
  Three UK admits hack but says 'financial details are not at risk'
  TechRadar
  Three customers are waking up to the news that hackers have potentially stolen some of their details in an attempt to illegally nab themselves high-end smartphones. Early reports suggested details of up to six million customers could have been accessed ...en meer »
  
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• UK's financial conduct authority will say by next summer if rule changes needed ... - BreakingNews.com

  18-11-2016 10:14
  
  UK's financial conduct authority will say by next summer if rule changes needed ...
  BreakingNews.com
  ONS: Number of non-UK nationals working in the UK increased from 986,000 in 1997 to 3.49 million in Sept. 2016. Read more on ons.gov.uk · Alert my friends. 24 WHOA! labor. Nov 15, 2016, 07:29 PM GMT ( 2d ). Update: UK prison officers in process of ...
  
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• Mini tornado strikes JCB headquarters in Staffordshire

  18-11-2016 09:36 via theguardian.com
  
  Windows smash and wall collapses as 70mph winds pound UK factoryWorkers at JCB’s world headquarters in Staffordshire were stunned on Thursday when a mini tornado caused a wall to collapse and windows to crash to the ground.Production of diggers stopped after the tornado tore into the side of the factory. No one was injured in the incident and the factory was back up and running after 30 minutes. The damaged areas have been cordoned off. Continue reading...
  
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• Three British men arrested over Three mobile network data breach

  18-11-2016 08:25 via theguardian.com
  
  Two men from Manchester and one from Kent have been charged after the breach that enabled fraudsters to steal mobile phonesThree men have been arrested after a data breach at the Three mobile network allowed fraudsters to steal phones.The company said fraudsters had accessed personal data, including names and addresses, by using authorised logins to its database of customers eligible for an upgraded handset. Continue reading...
  
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• Beauty boom or bust: does the UK have too many salons?

  18-11-2016 08:20 via theguardian.com
  
  With 12 new salons opening each week, competition in the beauty industry is hotting up, but is there still enough business to go around? Take a look on the average British high street now, and chances are you will be faced with an impressive choice of places to get a hair cut, manicure or wet shave.According to the Royal Mail’s Address Management Unit, more beauty and grooming salons opened on UK high streets last year than any other type of independent business, with a net increase of 626
  
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• I'm British, a Brazilian entrepreneur and no, not your cleaning lady

  18-11-2016 08:10 via theguardian.com
  
  As Latin American women in the UK worry about Brexit one entrepreneur aims to shift stereotypes and promote their contributions to UK businessIt was freezing on Oxford Circus as I handed out leaflets to passersby, jumping up and down to keep warm. “Would you like one?,” I repeated to each person. It was one of the few English phrases I knew. I was 21 and had recently packed up my life in Brazil, sold my car, put my job on hold and enrolled in an English school in London. I wanted to
  
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• UFO home spotted in France – in pictures

  18-11-2016 08:00
  
  It’s enough to make your head spin – this wooden dome home rotates to take advantage of the light and glorious viewsContinue reading...
  
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• I'm applying for a senior role in my company, but don't really want it

  18-11-2016 08:00
  
  I fear it’s a benchmarking interview as my skills aren’t a perfect fit, so how should I tackle the application and interview?
  Twice a week we publish problems that will feature in a forthcoming Dear Jeremy advice column in the Saturday Guardian so that readers can offer their own advice and suggestions. We then print the best of your comments alongside Jeremy’s own insights. I am in the strange position of applying for a job I don’t want. I work in a tiny team in a small
  
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• Trump is right: Nafta is a disaster. But US workers aren’t the big losers | Felicity Lawrence

  18-11-2016 07:00 via theguardian.com
  
  The president-elect has promised to rip up the free trade treaty, yet there is no sign that his approach will be any fairerBullies have a habit of blaming their victims. So the American alt-right has blamed poor Mexicans for stealing US jobs with their cheap labour and illegal immigration, and Donald Trump won votes by promising to rip up Nafta – the North American Free Trade Agreement – which has been so damaging to hard-working families. As with so much about this post-fact era, th
  
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• Strong-arm Apple and tax China bigly: a guide to Trump's possible tech policies

  18-11-2016 01:16 via theguardian.com
  
  Silicon Valley has enjoyed its relationship with Obama, but how will companies such as Google, Apple and Facebook fare under a Trump administration? America’s technology industry has enjoyed a close relationship with President Obama’s administration since he was elected in 2008 – a fact that will not be lost on president-elect Donald Trump, who pitched his own ideas about technology policy while campaigning.
  The technology sector is responsible for 6% of the nation’s econ
  
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• Daily commute of two hours – reality for 3.7m UK workers

  18-11-2016 01:01
  
  Numbers spending more than 120 minutes on move up by a third as stalled wages and costly housing stretch commute, says TUCThe number of workers who commute daily for two hours or more has increased by a third in five years, a study shows, with stagnant wages and soaring housing costs blamed for pushing people further away from their jobs. Research by the Trades Union Congress estimates that 3.7 million, or about one in seven, workers spent at least that time travelling to and from work in 2015 &
  
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• City news: Royal Mail, Co-op, Majestic Wine and Ted Baker

  18-11-2016 01:01 via feedproxy.google.com
  
  LESS junk mail as companies cut down on marketing activity amid Brexit uncertainty delivered a blow to Royal Mail’s revenue.
  
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