Financial news

• New triple lock fear as pensions minister refuses to guarantee its safety

  27-11-2016 20:33 via feedproxy.google.com
  
  A MINISTER today refused to pledge that the triple lock guaranteeing annual rises in the state pension is safe.
  
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• Budget energy supplier folds blaming rising prices

  27-11-2016 09:48 via theguardian.com
  
  Customers face possibility of higher charges as GB Energy Supply ceases tradingAbout 160,000 UK customers face potentially higher energy bills after a budget supplier closed down, blaming rising energy prices.
  GB Energy Supply ceased trading this weekend, leaving many faced with the possibility of higher charges unless they ask for the cheapest deal from their new supplier. Continue reading...
  
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• OK, no workers in the boardroom: but May must be strong on executive pay

  27-11-2016 08:00 via theguardian.com
  
  A taskforce of heavyweights are trying to block the prime minister’s plan for pay ratios and binding votes. She must stand up to themTheresa May’s corporate governance agenda is in trouble. The prime minister last week abandoned her plan to put workers on boards, though she couldn’t bring herself to admit it frankly. Now comes an attack on two other key proposed reforms: the idea of forcing companies to publish a ratio showing how the pay of the chief executive compares with th
  
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• Of course the forecasts are bad: no one has a plan for Brexit

  27-11-2016 08:00 via theguardian.com
  
  The Leavers somehow managed to deflect the blame for austerity on to ‘Europe’. But they are far less convincing about our economic future nowThe European Union did not cause the 2007-08 financial crisis. The European Union did not instruct George Osborne to introduce an austerity policy which magnified the deleterious effects of that crisis. The European Union did not impose neoliberal and excessively deregulatory policies which contributed to a situation where the “fruits of g
  
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• Mystic (Rees-)Mogg and the art of economic prediction

  27-11-2016 08:00 via theguardian.com
  
  The forecasters due to be quizzed by the Treasury select committee this week are not likely to strike a chord with its buttoned-up chairmanA big week in parliament for the Jacob Rees-Mogg committee (formerly known as the Treasury select committee), which will again be grilling one of its favourite targets: economic forecasters.First up on Tuesday comes Paul Johnson, director of the Institute for Fiscal Studies, which last Thursday said that Brexit really means British workers facing the longest
  
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• Calling John Lewis about my Partnership card ... is there anybody out there?

  27-11-2016 08:00 via theguardian.com
  
  IT problems at retailer leave credit card customers in the lurchAs I see from many posts on money forums and social media, I know I am not alone in complaining about the John Lewis Partnership credit card. But my situation is vexing me. John Lewis Finance revamped its website in early October, asking cardholders to re-register. I did so. Then, two weeks ago, I realised that my card expired this month and a replacement had not arrived. It was apparent from the online posts about failed payments a
  
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• NS&I bond raises hopes of greater savings competition

  27-11-2016 07:59 via theguardian.com
  
  Savings expert says modest rate may encourage interest from other providersA market-leading savings bond announced in the autumn statement will hopefully encourage other providers to unveil better-paying deals, and could mean the government thinks interest rates may rise next year, according to one industry expert.During his speech on Wednesday chancellor Philip Hammond pulled a small rabbit out of his hat in the form of a government-backed three-year NS&I savings bond expected to pay around
  
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• China's property frenzy and surging debt raises red flag for economy

  27-11-2016 07:52 via theguardian.com
  
  Outstanding loans have risen sharply to 40% of GDP but analysts fear the end of the credit binge could trigger a crisis for the wider worldChinese household debt has risen at an “alarming” pace as property values have soared, analysts have said, raising the risk that a real estate downturn could wreak havoc on the world’s second largest economy.
  Loose credit and changing habits have rapidly transformed the country’s famously loan-averse consumers into enthusiastic borrowe
  
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