Financial news

• Could Matteo Renzi's exit lead to an Italian bank rescue?

  05-12-2016 21:27 via theguardian.com
  
  With eurozone authorities willing to bend their own rules, a solution could be at hand – though it would fix few long-term issues Investors’ ability to look on the bright side on political turmoil is remarkable. In the case of Italy, the departure of Matteo Renzi, the market-friendly centre-left prime minister, was followed quickly by the thought that the crisis in the country’s banking system may, counterintuitively, become easier to address.That wasn’t last week’s
  
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• Mark Carney's history lesson shows we haven't learned on globalisation

  05-12-2016 20:13 via theguardian.com
  
  The Bank of England governor’s look back at previous crises suggests action needs to be taken to stop capitalism from eating itselfHistory repeats itself. That was the message from Mark Carney as the governor of the Bank of England sought to draw some conclusions about the future of globalisation at the end of a turbulent year.Carney’s argument was that the current lost decade is not the first. The 1860s had its own financial crisis: the run on Overend, Gurney & Co was the last t
  
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• Amazon Go store lets shoppers pick up goods and walk out

  05-12-2016 19:49 via theguardian.com
  
  Grocery store in Seattle has no checkouts, with purchases automatically billed to customers’ accountsAmazon has opened a corner store where customers can pick up their groceries and just walk out without having to queue up and pay at the checkout.The company said shoppers at its Amazon Go store will have the cost of their purchases automatically billed to their Amazon Prime account. Sensors will track customers as they go about the store and record items they pick up.Continue reading...
  
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• Dollar Financial UK Ltd v HMRC: - Lexology (registration)

  05-12-2016 19:46
  Dollar Financial UK Ltd v HMRC:
  Lexology (registration)
  The decision in Dollar Financial UK Ltd v HMRC [2016] UKFTT 598 will likely be of interest to a range of participants in the lending market, and the financial services sector more generally, because it confirmed a number of helpful principles in terms ...
  
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• CRISIS POINT: Bank of England says liberal elite is FINISHED if inequality isn't tackled

  05-12-2016 19:21 via feedproxy.google.com
  
  MARK CARNEY tonight warned that the global system of free trade is on the brink of collapse as rising inequality and a sense of deep injustice drives voters across the world into the arms of anti-establishment parties.
  
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• The Crusader: Beware if you are buying your gadgets from Europe

  05-12-2016 18:55 via feedproxy.google.com
  
  IF YOU are tempted to shop for a gadget from a Europe-based company, as opposed to a UK one, think twice before pushing the ‘buy’ button.
  
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• Hammond and Davis meet bank chiefs to talk Brexit 'opportunities'

  05-12-2016 18:44 via theguardian.com
  
  Chancellor and Brexit secretary say meeting aimed to examine impact of UK vote to leave the EU on financial sectorBanking leaders from Goldman Sachs and HSBC were among those who met the chancellor and the Brexit secretary to discuss how to keep financial services in the UK after leaving the European Union.Philip Hammond and David Davis hosted a gathering at the Shard tower in central London on Monday, amid concern among many banks about losing “passporting” rights and the potential
  
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• Italy vote is 'harbinger' of doom: Deutsche Bank boss warns of MORE turbulence after No

  05-12-2016 18:01 via feedproxy.google.com
  
  DEUTSCHE Bank's chief executive warned staff of more eurozone turmoil after Italian Prime Minister Matteo Renzi's resignation over a referendum on constitutional reform.
  
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• How Italy became this century's 'sick man of Europe'

  05-12-2016 17:55 via theguardian.com
  
  Joining the euro removed the country’s only means of overcoming economic troubles and restoring competitivenessOn New Year’s Day in 2002, Italians gathered in Rome to throw their lire into the Trevi fountain. There were celebrations as Italians took possession of the new euro notes and coins that became legal tender as the clocks struck midnight.But hopes that the advent of the single currency would provide a fresh start for Italy’s economy were misplaced. The growth performanc
  
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• Now pushy European Union angers the US as it tries to control AMERICAN banks

  05-12-2016 16:50 via feedproxy.google.com
  
  FURIOUS American banks are fighting back against burdensome Brussels plans, which would allow European regulators to exert more control over foreign lenders.
  
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• REVEALED: The commuter towns where house prices are rising faster than London

  05-12-2016 16:40 via feedproxy.google.com
  
  COMMUTER hubs in parts of the South East are seeing faster price growth than London, as more buyers look to combine better value homes in well-connected areas.
  
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• What Brexit hangover? Britain's service sector reaches 10-month HIGH after referendum vote

  05-12-2016 14:33 via feedproxy.google.com
  
  BRITAIN'S crucial services sector activity beat expectations to jump to a 10-month high in November, as the economy continues to dispel doom monger forecasts following the vote to leave the European Union .
  
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• Activistas de los medios quieren mostrar la buena cara del Brasil

  05-12-2016 13:47 via theguardian.com
  
  Hartos de la rutinaria cobertura de drogadicción y violencia en las favelas, periodistas en Río de Janeiro quieren cambiar su mala imagen Read this article in EnglishMientras la ciudad de Río de Janeiro se preparaba como organizadora de los juegos olímpicos el pasado agosto, descripciones de las favelas en las que “Niños rata” rascaban basureros, millones de personas en ocupaciones ilegales vivían en “chozas entre aguas negras y quebra
  
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• Italy referendum: What will the result mean for Italy’s banking crisis?

  05-12-2016 13:36 via feedproxy.google.com
  ITALY’s decision to vote No in a pivotal referendum on constitutional reform has plunged the eurozone into chaos and has prompted Prime Minister Matteo Renzi to resign. But what will the result mean for Italy’s banking crisis?
  
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• Growing business fleet demand fuels rise in new car sales

  05-12-2016 11:48 via theguardian.com
  
  Company purchases and cheap finance deals drive surge but economists warn private demand is falling as consumers are put off by Brexit vote uncertaintyNew car sales in the UK continued to rise last month as growing demand from businesses made up for falling demand from private buyers.A total of 184,101 vehicles were registered in November, a rise of 2.9% from a year earlier, according to the Society of Motor Manufacturers and Traders. So far this year, more than 2.5m new cars were registered &nd
  
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• Share Hunter: Challenges on the horizon for Greene King

  05-12-2016 10:52 via feedproxy.google.com
  
  IN NORMAL circumstances, investors would be cheering Greene King’s first-half results.
  
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• Italy's banks at recession lows: Monte Dei Paschi stocks tumble amid No vote uncertainty

  05-12-2016 10:25 via feedproxy.google.com
  
  FEARS are rising for Italy's troubled banks after Italian Prime Minister Matteo Renzi resigned over a humiliating defeat in a national referendum.
  
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• RBS agrees multimillion-pound deal with shareholders

  05-12-2016 09:37 via theguardian.com
  
  Bank reaches settlement with three of five shareholder groups who claim they were misled over the £12bn rights issue in 2008Royal Bank of Scotland has agreed multimillion-pound payouts to settle claims from shareholders that they were misled during the bank’s £12bn cash call in 2008.The bailed-out bank has reached agreement with three out of five groups which brought the claims, worth about £4bn, over the rights issue which took place before its £45bn taxpayer bailo
  
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• Pound jumps against euro and FTSE 100 gains as Italy referendum boosts Brexit

  05-12-2016 09:35 via feedproxy.google.com
  
  THE pound has hit a four-month high against the euro, as Italy's referendum sparks panic over the future of the eurozone.
  
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• Robots beware, kids are in training for the jobs of tomorrow

  05-12-2016 09:33 via theguardian.com
  
  After-school tech clubs and Raspberry Pi are reigniting hobbyist computing and creating a talent pipeline“We need to train kids for jobs that don’t exist yet,” says Simon Riley, founder of the Brighton-based business MakerClub. His company, founded in 2014, runs after-school technology clubs for children aged nine to 14, teaching them to build robots, use 3D printers and code. Riley is one of a number of UK entrepreneurs tapping into the demand from teachers, parents and politi
  
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• Protecting your business from cybercrime – what the experts say

  05-12-2016 09:15 via theguardian.com
  
  From recognising a rogue email to training staff on a budget, experts in our live Q&A offered tips to keep your business safeWhat steps should you take to keep your business safe from hackers? With new threats emerging and longstanding ones still an issue, it pays to know. The average cost of cyber attacks to a small business was £3,000 over a two-year period, according to research [pdf] from the Federation of Small Businesses. During our live Q&A on how to protect your business fr
  
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• Lost, the £4,000 we invested in a new-build Redrow home

  05-12-2016 08:00 via theguardian.com
  
  We paid for upgrades before exchanging contracts, but had to pull out when our buyers let us downWe reserved a new-build, off-plan, home at a local Redrow development at West Malling in Kent earlier this year, after accepting an offer on our house.Unfortunately, a couple of weeks ago, our buyer pulled out at the 11th hour. Redrow decided immediately to put our reserved house back on the market. Continue reading...
  
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• I work in HR and want a change of direction

  05-12-2016 08:00
  
  I am moving to a rural location and enjoy training people, but am not sure how to best utilise my skillsTwice 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 live in a city and am looking to move closer to family in a more rural part of the country, although with access to larger towns and citi
  
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• Cyber criminals move to exploit ‘safe’ social media spaces

  05-12-2016 07:59 via theguardian.com
  
  Friend requests and easy conversation can quickly lead to threats of blackmail, as users fail to take suitable precautionsFollowing a few glasses of wine, John’s inhibitions had dropped when he went online to talk to a woman he had met through an internet dating site. Although they hadn’t met in person, they had been exchanging messages for about a week and a half.Because of the familiarity built up through previous messages, and the effects of the alcohol, when she suggested that sh
  
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• Thousands wait for action over potentially dangerous tumble dryers

  05-12-2016 07:00 via theguardian.com
  
  A year since Whirlpool issued safety alert, Which? says customers subjected to slow and inadequate serviceThousands of owners of potentially dangerous tumble dryers are being forced to wait for modifications to their machines, a year after the manufacturer announced a safety alert due to the risk of them bursting into flames, a consumer group has warned. Which? said Whirlpool customers were being subjected to “slow, poor service” and even incorrect and dangerous advice, as it publish
  
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• Euro falls to 20-month low after Italy government's referendum defeat

  05-12-2016 06:36 via theguardian.com
  
  The single currency could sink to US80c, according to analysts, as a vital rebooting of Italy’s fragile banking sector is set be delayed again The euro has fallen to a 20-month low against the dollar and investors fled riskier assets after Italian prime minister Matteo Renzi said he would resign on Monday following a crushing defeat on constitutional reform.Renzi’s defeat threatens to undermine efforts to stabilise the country’s shaky banking system and deals a wider body blow
  
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• Thousands of UK restaurants could go bust, accountancy firm warns

  05-12-2016 01:01 via theguardian.com
  
  Higher cost of importing food and wine – due to weaker sterling – and rising wage bills could hit over 5,000 companies
  Thousands of restaurant businesses in Britain could go bust because the fall in sterling since the Brexit vote has sharply raised the cost of imported food and wine, an accountancy firm has warned.Moore Stephens says that 5,570 restaurant businesses have at least a 30% chance of insolvency in the next three years, due to inflationary pressures and stagnating disposab
  
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• British arms companies buck global trend with increase in sales

  05-12-2016 01:01 via theguardian.com
  
  BAE Systems – the UK’s biggest arms maker – sees sales rise to $25.5bn partly because of aircraft exports to Saudi ArabiaArms companies in the UK and elsewhere in western Europe bucked the downward trend in sales in much of the rest of the world by recording a 6.6% rise last year, according to data compiled by the Stockholm International Peace Research Institute (SIPRI).UK companies listed in the top 100 arms companies were among those who reversed the trend, with sales up 2.8%
  
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• Britain's agency workers underpaid and exploited, thinktank says

  05-12-2016 01:01 via theguardian.com
  
  Agency work booming but staff earning hundreds of pounds a year less than employees doing the same job, report finds
  Britain’s rapidly growing army of agency workers is as serious an issue as zero-hours contracts, with full-time agency staff earning hundreds of pounds a year less than employees doing the same jobs, according to a new report into the issue.The Resolution Foundation thinktank warns that agency staff are the new ‘secret agents’ in the UK labour market, as it begin
  
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