Financial news

• RBS must raise £2billion after failing a stress test

  30-11-2016 21:00 via feedproxy.google.com
  
  ROYAL Bank of Scotland must raise about £2billion to bolster its finances after being found wanting in an annual health check of Britain’s banking system.
  
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• Tories seek positive uncertainties in a deluge of negative certainties

  30-11-2016 20:40 via theguardian.com
  
  MPs grill Robert Chote over the OBR’s gloomy post-Brexit predictions: wasn’t it possible all the forecasters were wrong?Just after the chancellor’s autumn statement, Conservative Jacob Rees-Mogg had rubbished the Office for Budget Responsibility for making unnecessarily gloomy predictions about the government’s handling of Brexit and suggested we would all soon be dancing towards fun-filled days of forever summer. A lot can change within a week. Not least that it now appe
  
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• With its deal on barrel quotas, Opec is back on the radar – for now

  30-11-2016 20:27 via theguardian.com
  
  Cuts of 4.5% in production mark a ‘historic moment’, says the organisation. Let’s judge in six months’ timeThere is life is the old cartel yet, it seems. A year ago, obituaries were being written for Opec when, despite much bullish talk, it couldn’t agree any production cuts. Now the 14 members – soon to be reduced to 13 as Indonesia sits out for a while – have agreed that 1.2m barrels a day will be removed, a reduction in Opec’s volumes of about 4
  
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• RBS fails Bank of England stress test

  30-11-2016 19:27 via theguardian.com
  
  Taxpayer-backed bank unveils plan to bolster its capital by £2bn after faltering in annual health check of UK banking systemRoyal Bank of Scotland was the biggest failure in the Bank of England’s annual health check of the UK banking system and has embarked on a new plan to bolster its financial strength by £2bn.The Edinburgh-based bank, which is 73% owned by taxpayers, is to cut costs and reduce its exposure to risky assets after the results of the toughest tests yet on the ba
  
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• Philip Morris's vision of cigarette-free future met with scepticism

  30-11-2016 19:26 via theguardian.com
  
  Campaigners and analysts question Marlboro maker’s claims that new heat-not-burn iQos could see cigarettes phased out Claims by tobacco giant Philip Morris, the US company behind brands including Marlboro, that conventional cigarettes could become a thing of the past have been met with scepticism.Speaking as he launched a new product that the firm claims is less harmful than traditional smoking, chief executive André Calantzopoulos predicted a “phase-out period” for ciga
  
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• Manager demoted for failing to bow to Korean boss, UK tribunal told

  30-11-2016 19:26
  
  Former financial manager Misook McDonald is suing Dongbu Daewoo Electronics for discriminationA financial manager at a UK branch of a Korean firm lost her job because she refused to bow to her boss, an employment tribunal has heard.Misook McDonald, 43, claims she was demoted to secretarial duties after the perceived slight and is suing Dongbu Daewoo Electronics for sex discrimination, age discrimination and racial discrimination. Continue reading...
  
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• Britain could make bumper SIX trade deals at SAME TIME after Brexit

  30-11-2016 16:42 via feedproxy.google.com
  
  BRITAIN could secure six trade deals at the same time when it leaves the European Union , according to a top government trade official.
  
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• The art of gentrification: city data made beautiful

  30-11-2016 15:32 via theguardian.com
  
  Graphic designer Herwig Scherabon visualises the data behind gentrification using a striking array of different styles. These examples look at the patterns of income inequality and segregation in large cities, from London to LA Continue reading...
  
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• There are fairer ways to set the pension age – but politicians are ducking them | Ros Altmann

  30-11-2016 14:02
  
  A rise to 70 is rumoured to be on the way. Surely there must be more creative, flexible ways to meet the growing needs of an ageing populationYounger generations are being told to prepare to wait even longer for their pensions, with former minister Steve Webb suggesting that the retirement age for a state pension will rise to 70.I can understand why some policymakers seeking to cut the costs of state support for pensioners are attracted to the idea of continually raising pension ages, but I beli
  
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• Italy's banks could need €40BILLION bailout after Renzi defeat

  30-11-2016 13:40 via feedproxy.google.com
  
  ITALY'S crisis-hit banks could need a massive €40BILLION rescue if, as expected, the Prime Minister loses Sunday's crucial referendum.
  
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• ITV Studios: is the glitter coming off broadcaster's hit factory?

  30-11-2016 13:18 via theguardian.com
  
  Star-studded gala to woo advertisers comes amid problems including jittery ad market and slowing growth in production businessBehind the showbiz hullaballoo of ITV’s annual showcase for advertisers at the London Palladium, the company’s chief executive, Adam Crozier, is facing his stiffest test since successfully leading the broadcaster out of the previous recession after taking the helm in 2010. The red carpet event last Thursday came as Brexit jitters left ITV facing its worst run-
  
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• Families on tax-credit harassment: 'a massive headache and real worry'

  30-11-2016 11:52
  
  Chased by debt collectors for overpayments made in error by HMRC, they suffer what one MP calls a ‘menacing obstacle course’ Since its introduction in 2003, the tax-credit system has been plagued with problems. For more than a decade, HM Revenue & Customs has struggled to respond swiftly to families’ changing circumstances, resulting in hundreds of thousands of people unwittingly owing money after being overpaid working tax credit and child tax credit. In the year to June 2
  
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• Mark Carney warns EU faces financial drought if it cuts off UK overnight - but ... - Telegraph.co.uk

  30-11-2016 11:38
  
  Telegraph.co.uk
  Mark Carney warns EU faces financial drought if it cuts off UK overnight - but ...
  Telegraph.co.uk
  The European Union desperately needs finance from Britain and will face severe knocks to its economy if member nations do not agree to a transitional period to give banks and finance firms time to adapt to Brexit, Mark Carney has warned. The Governor ...
  Carney: “UK financial system faces a challenging outlook”The Armchair Trader (blog)alle 93 nieuwsartikelen &raqu
  
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• What is the Bank of England stress test? What were the 2016 results and why did RBS fail?

  30-11-2016 10:55 via feedproxy.google.com
  
  RBS has failed the Bank of England stress test, forcing it to draw up new plans in case of a financial crisis. But how does the test work?
  
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• We need to rethink workers’ rights in today’s gig economy | Matthew Taylor

  30-11-2016 10:28
  
  Theresa May has asked me to lead a review of modern employment. The fast-changing nature of self-employment means it’s a daunting taskFor work in the UK it can feel like the best of times and the worst of times. We have a flexible labour market, a strong and internationally envied record of job creation and a solid framework of individual rights. Yet hardly a day seems to go by without stories of workers being unfairly treated, whether in long-established areas of employment such as retail
  
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• BoE's Financial Stability Report: UK Financial Stability Risks Remain Elevated ... - Economic Calendar

  30-11-2016 09:50
  
  Economic Calendar
  BoE's Financial Stability Report: UK Financial Stability Risks Remain Elevated ...
  Economic Calendar
  In the latest Bank of England stress tests for the UK banking sector, Royal Bank of Scotland failed the test with failure to meet Tier 1 capital target under adverse conditions and will need to raise fresh capital. There were also shortcomings in ...
  Royal Bank of Scotland fails UK stress testFinancial Expressalle 256 nieuwsartikelen »
  
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• RBS shares PLUNGE after lender FAILS stress tests

  30-11-2016 09:30 via feedproxy.google.com
  
  SHARES in state-backed Royal Bank of Scotland plunged by more than three per cent this morning, after the lender was highlighted as Britain's weakest bank.
  
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• Bank of England Cautions Disorderly Brexit Threatens U.K. ... - TheStreet.com

  30-11-2016 09:24
  
  TheStreet.com
  Bank of England Cautions Disorderly Brexit Threatens U.K. ...
  TheStreet.com
  The Bank of England cautioned Wednesday that risks to financial stability in Britain remain elevated and that a messy exit from the European Union could have ...
  Post-Brexit outlook for Britain's financial stability 'remains challenging'Belfast Telegraph
  Risks to UK financial stability remain elevated - BoEEconoTimes
  BOE Warns Of Elevated Risks For UK's Financial StabilityInvesting.com
  The Straits Tim
  
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• RBS FAILS stress tests and Barclays struggles but Mark Carney says YOUR money is SAFE

  30-11-2016 08:45 via feedproxy.google.com
  
  RBS will have to raise £2billion after failing stress tests that left Barclays and Standard Chartered struggling as Mark Carney insists UK banks are resilient and calls for an "orderly Brexit".
  
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• ‘I was introduced to a world I’d never thought about before’

  30-11-2016 08:30 via theguardian.com
  
  When his son was born with severe disabilities Hardeep Rai reevaluated his life. Now he offers disabled entrepreneurs startup mentoring and finance Until 2006 my life had been easy. I had most of the things I wanted – a good job, a happy marriage, steady income and family. The one thing that was missing was a child. I was so excited for my son to be born that November.But, on the day of my son Eshan’s birth, at the last minute, something went terribly wrong. During the birthing proce
  
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• Forget the ‘annual’ fee … Money Club takes £98 payment as often as it likes

  30-11-2016 08:00
  
  The shopping club debited more than £2,000 from dementia sufferer’s bank account over three yearsI have taken over the financial affairs of an elderly dementia sufferer. In March 2013, he signed up with Money Club and paid an annual fee of £98. At that time he had just started losing his memory and he does not own a computer or have the mental capacity to use the service, so I’m baffled as to how it sold him the membership. Another £98 was taken in March 2014 and si
  
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• Using satellites to support Kenya's drought-hit herders – in pictures

  30-11-2016 06:00 via theguardian.com
  
  In Kenya 1.3 million people are facing serious food insecurity and loss of livelihoods as a result of poor rainfall. As the next dry season approaches, one insurance scheme is using satellite data to support some of east Africa’s most vulnerable. Photographs by ILRI. Continue reading...
  
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• EU will be economically crippled unless it treats Britain’s banks fairly, blasts Carney

  30-11-2016 04:53 via feedproxy.google.com
  
  BRITAIN is the investment banker for Europe and the bloc would be left suffering if UK banks are hit by Brexit, according to the Bank of England Governor.
  
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• Supermarket shoppers can get their Christmas dinner for £20 – survey

  30-11-2016 02:00 via theguardian.com
  
  Cost of buying 11 festive ingredients comes to £19.82 if consumers shop around across Aldi, Lidl, Asda, Morrisons and IcelandSupermarket shoppers can pick up everything they need for Christmas dinner for eight people for less than £20 this year, a survey has found.The cost of buying 11 Christmas dinner essentials – including a turkey, plum pudding, fresh vegetables and cranberry sauce – comes out at £19.82, or £2.48 a head, after shopping around for the best p
  
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• What you need to know about funding your golden years

  30-11-2016 01:01 via feedproxy.google.com
  
  DECIDING how to take your pension income at retirement is one of the toughest and most important decisions you will ever make.
  
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