Financial news

• Amazon Made Its First Commercial Delivery by Drone in the UK - Financialbuzz.com

  14-12-2016 22:36
  Amazon Made Its First Commercial Delivery by Drone in the UK
  Financialbuzz.com
  On Wednesday, Jeff Bezos, the CEO of Amazon.com, Inc. (NASDAQ:AMZN), announced that the company completed its first commercial drone delivery in Cambridge, U.K. last week, which marks the start of Amazon's drone program after three-year's ...en meer »
  
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• 'Call me': Donald Trump woos tech leaders at New York meeting

  14-12-2016 22:22
  
  President-elect meets Facebook, Amazon, Google and Microsoft executivesTrump says his goal is ‘to help you folks do well’Donald Trump extended an olive branch to the titans of technology on Wednesday, telling them his goal is “to help you folks do well” at a meeting at his New York headquarters.“We have no formal chain of command around here,” the president-elect told the most powerful men and women in the technology industry, whom he encouraged to “call
  
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• New UK Financial Regulator Heralds Tougher Enforcement Era - Law360 (subscription)

  14-12-2016 22:10
  
  New UK Financial Regulator Heralds Tougher Enforcement Era
  Law360 (subscription)
  Law360, London (December 14, 2016, 9:08 PM GMT) -- Britain earlier this year established the Office of Financial Sanctions Implementation, adding another enforcer to the list of names policing U.K. banks and signaling a more robust approach to fighting ...
  
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• Letter to Nissan about Brexit could be made public, MPs are told

  14-12-2016 21:36
  
  Letter reassured carmaker the government would try to secure tariff-free access to single market, says business secretaryThe government could publish the letter it sent to Nissan reassuring the carmaker about Brexit once concerns about commercial sensitivity have passed, the business secretary has told MPs. Greg Clark said the government persuaded Nissan to commit to its Sunderland factory by reassuring the Japanese carmaker in a letter that it would try to secure tariff-free access to the singl
  
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• Eurozone ministers won't budge an inch on Greek finance measures

  14-12-2016 21:12
  
  Greece exceeded budget surplus target of 1.5% but with the eurozone’s 2018 target at 3.5%, more hardship is around the cornerHere’s a safe prediction for 2017: the Greek debt crisis will turn ugly again. In fact, the next chapter has already begun. On Wednesday, eurozone finance ministers put their plan for short-term debt relief on hold because Athens handed a relatively small sum of money to pensioners at Christmas and said it would pay for school meals for 30,000 children in impov
  
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• Rolls-Royce winning contracts legitimately key to growth, says CEO

  14-12-2016 21:08
  
  Warren East says group, which is under SFO investigation over bribery claims, has taken steps to ensure zero-tolerance policyThe chief executive of Rolls-Royce, which is under investigation by the Serious Fraud Office over bribery allegations, has said winning business ethically plays a key role in his plans for future growth.Warren East said the Derby-based engineering group was focusing on securing contracts legitimately. Continue reading...
  
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• Greece on collision course with lenders as ESM freezes debt relief

  14-12-2016 20:41
  
  European financing body says it will not honour accord after Greek PM announced pre-Christmas bonus for pensionersThe dispute between Greece and its creditors has turned more ugly after the European body financing the country’s €86bn (£72bn) bailout programme decided to freeze a deal on short-term debt relief measures.The prime minister, Alexis Tsipras, was taken by surprise on Wednesday when the European Stability Mechanism announced it would not honour an accord to ease the bu
  
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• Boohoo spends £3.3m on cofounder's sons' company

  14-12-2016 20:19
  
  PrettyLittleThing offers ‘a very good deal for shareholders’, according to Boohoo’s chairman, Peter WilliamsBoohoo, an online fashion retailer, has taken control of PrettyLittleThing, the fast-growing website set up by the children of Boohoo’s co-founder Mahmud Kamani. “This is a very good deal for shareholders,” said Boohoo’s chairman, Peter Williams, before adding that it was a “natural fit” for the company.Related: Family behind Boohoo.com
  
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• More than 2,500 BA cabin crew could go on strike over Christmas

  14-12-2016 19:58
  
  Union representatives to decide what action to take after staff at Heathrow-based mixed fleet unit vote for walkout over payMore than 2,000 British Airways cabin crew based at Heathrow could go on strike over Christmas after voting overwhelmingly in favour of walkouts in a dispute over pay. Cabin crew in BA’s mixed fleet unit – who represent about 15% of stewards at the airline – voted to strike after rejecting a 2% pay offer on what the Unite union has described as “pove
  
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• Peter Wilkinson: the man the unions say is driving the Southern rail strike

  14-12-2016 19:39
  
  Civil servant has become bogeyman at Department for Transport after ill-advised speech in February saying ‘we have got to break’ driversA casual observer might struggle to equate the man who appeared before the transport select committee looking like a French philosopher with the hatchet man whom unions accuse of driving the Southern rail strike.But Peter Wilkinson, whose shaven head, polo-neck and thick designer glasses transcend the usual faceless civil servant attire, has become t
  
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• Lego to raise its prices in UK from January

  14-12-2016 19:25
  
  Danish toy manufacturer says it is not ruling out further increases if sterling does not recover from post-Brexit vote plungeLego is to raise its prices in Britain by 5% next year as it becomes the latest manufacturer to respond to the plunging pound after the UK voted to leave the EU.The Danish firm confirmed it had decided to to hike the prices of its playsets, bricks and mini-figures in the UK owing to “currency fluctuations”, while not ruling out further increases if sterling doe
  
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• UK employment falls in months after Brexit vote

  14-12-2016 18:29
  
  ONS reports mixed news, with rising economic inactivity but fewer claiming unemployment benefit in three months to OctoberEmployment in Britain has fallen for the first time in a year in a half in a sign that the UK jobs market is losing steam following the EU referendum.The employment rate edged lower to 74.4% in the three months to October, from a record high of 74.5%, according to the Office for National Statistics (ONS). It was the first drop since February to April 2015, triggered by a 6,00
  
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• Buried at sea: the companies cashing in on abandoned cables

  14-12-2016 18:01
  
  Companies are starting to realise the value of defunct communications cables on the sea bed. But some say they’re better left untouchedFrom the telegraph wires laid across the Atlantic in the 1860s to the fibre optic wires carrying digital data today, our oceans are criss-crossed with lines used for 98% of our communication (pdf). But when technology is superseded or a company ceases to trade, what happens to the cables and their copper, aluminium, steel and plastic?
  Some companies upgrade
  
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• REVEALED: The best time to book your 2017 holiday flights for the biggest deals

  14-12-2016 17:25 via feedproxy.google.com
  
  HOLIDAYMAKERS looking to get the best price on next year's summer getaway should consider waiting until the spring, analysis shows.
  
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• Southern rail strike talks adjourned

  14-12-2016 17:19
  
  Hopes remain that row can be resolved as Southern’s 2,242 weekday services were cancelled again on WednesdayTalks at Acas aimed at bringing an end to the long-running Southern rail dispute have adjourned for the day, leaving passengers facing the uncertain prospect of further chaos on Britain’s biggest rail franchise. Southern’s owner, Govia Thameslink Railway, began talks with the drivers’ union, Aslef, on Wednesday morning, on the second day of a strike that had complet
  
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• This is a true age of uncertainty for the world economy | Barry Eichengreen

  14-12-2016 15:55
  
  Donald Trump and the EU crisis make the instability described by JK Galbraith nearly 40 years ago seem enviableThe year 2017 will mark the 40th anniversary of the publication of John Kenneth Galbraith’s The Age of Uncertainty. Forty years is a long time, but it is worth looking back and reminding ourselves of how much he and his readers had to be uncertain about.In 1977, as Galbraith was writing, the world was still reeling from the effects of the first Opec oil-price shock and wondering w
  
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• Another London pop-up: the project that could ease the housing crisis

  14-12-2016 15:46
  
  Ninety-six people are living in the Ladywell development in south-east London, which will serve as a model elsewhere in the UKThe UK’s first pop-up village in south-east London, which houses 24 formerly homeless families, is a novel attempt at helping tackle Britain’s housing crisis and will serve as a blueprint for factory-made accommodation across the capital and in other cities.The 96 residents of the brightly coloured Ladywell development in Lewisham previously lived in B&Bs
  
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• Pound’s rally continues: Sterling SURGES ahead of US interest rate decision

  14-12-2016 15:42 via feedproxy.google.com
  
  THE pound continued this week's winning streak, strengthening against both the dollar and euro on Wednesday, ahead of a highly anticipated decision on US interest rates.
  
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• MPs expected to receive pay rise of more than £1,000

  14-12-2016 15:22
  
  Salaries for politicians are due to increase by 1.4% in April, taking their pay to £76,011 at a time of public sector austerityMPs are expected to receive a 1.4% pay rise worth more than £1,000 in April next year, taking their salaries to £76,011.Increases are based on the annual change in average weekly earnings across the public sector, which the Office for National Statistics calculated on Thursday at 1.4%. Continue reading...
  
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• PPI complaints to hit record levels, financial ombudsman says - AOL ... - AOL Money UK

  14-12-2016 15:04
  
  AOL Money UK
  PPI complaints to hit record levels, financial ombudsman says - AOL ...
  AOL Money UK
  The financial ombudsman expects to handle record numbers of payment protection insurance complaints next year as the fallout from the mis-selling scandal ...en meer »
  
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• Mortgage data points to slowdown in UK housing market in October

  14-12-2016 14:43 via theguardian.com
  
  Loans to home movers down 20% on year ago, while remortgage activity at almost eight-year high, industry figures showThe housing market slowed down in October, with the number of mortgages granted to home movers down 20% on a year ago, according to data from the Council of Mortgage Lenders.There was also a fall in the buy-to-let market, where activity has been hit by tax changes. But the lending market was bolstered by the amount of remortgage activity which hit its highest level since January 2
  
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• FCA considers £1m compensation limit to increase protection for pensioners

  14-12-2016 14:29
  
  Financial Conduct Authority to review safeguards against risk of financial firms going bust as pensioners favour drawdown products to annuitiesThe maximum compensation someone can receive if an investment company goes bust could be increased from its current £50,000 to as much as £1m, the UK’s main financial watchdog has suggested.The Financial Conduct Authority (FCA) said a rethink of the official compensation scheme relating to financial firms may be needed following the new
  
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• Ofgem energy league table could save users hundreds of pounds

  14-12-2016 12:52
  
  Price comparison tool could help reduce bills for consumers on standard variable tariffs by £200 a year, says regulatorOfgem has published its first energy company league table, comparing the most expensive standard tariffs with the cheapest deals on the market to provide “greater transparency to consumers”.The energy secretary, Greg Clark, said the table would show consumers where they could save money and would increase transparency for the “millions” of Britons w
  
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• Whitehall should intervene to deal with schools' 'financial concerns' - LocalGov

  14-12-2016 12:46
  
  LocalGov
  Whitehall should intervene to deal with schools' 'financial concerns'
  LocalGov
  Central government should intervene earlier and more often with local authorities when it has financial concerns about maintained schools, auditors say. The recommendations were made as part of a report from the National Audit Office (NAO) which warns ...en meer »
  
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• COUNCIL TAX WARNING: Bills could jump by SIX PER CENT in next two years

  14-12-2016 12:33 via feedproxy.google.com
  
  BRITISH families are in line for a stinging rise in council tax over the next two years, as ministers give authorities the freedom to implement hikes of up to six per cent.
  
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• UK jobs improvement has stalled as employers wait and see on Brexit

  14-12-2016 11:55
  
  Latest ONS figures showing slight fall in employment after major rise in previous quarter are consistent with other surveysEmployment and unemployment down marginally. Wage growth and inactivity up a bit. Cut through the mass of data and the conclusion is clear: the improvement in the UK labour market has stalled.
  The latest news from the Office for National Statistics is consistent with the recent reports from the Bank of England’s regional agents, the officials who act as the eyes and ea
  
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• Larger UK redress levies in offing for riskier financial products - euronews

  14-12-2016 11:14
  AOL Money UK
  Larger UK redress levies in offing for riskier financial products
  euronews
  LONDON (Reuters) – Firms offering riskier products should pay higher levies to a fund used to compensate consumers of pensions, credit and investment funds, Britain's financial watchdog said in proposals published on Wednesday. The Financial Conduct ...
  Financial watchdog looks at extending consumer protection for pensionsAOL Money UK
  UK FCA looking at raising financial compensation to £1mFo
  
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• Larger UK redress levies in offing for riskier financial products - Reuters UK

  14-12-2016 11:11
  
  Reuters UK
  Larger UK redress levies in offing for riskier financial products
  Reuters UK
  The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren. By Huw Jones | LONDON. LONDON Firms offering riskier products should ...
  Financial watchdog looks at extending consumer protection for pensionsAOL Money UK
  UK FCA looking at raising financial compensation to £1mForexLive
  UK
  
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• New crowdfunding platforms following peer-to-peer lending are riskier than many realise

  14-12-2016 11:00 via feedproxy.google.com
  
  Peer-to-peer lending has been a ray of sunshine for savers seeking a healthier return on their money, but now there is a shadow on the horizon.
  
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• Brexit Britain keeps booming as unemployment drops to lowest level in more than a DECADE

  14-12-2016 10:42 via feedproxy.google.com
  
  BRITAIN'S jobless rate hit its lowest level in more than a decade, as the economy continues to power through the vote to leave the European Union , official data revealed today.
  
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• Take charge of your mortgage: 3 out of 5 mortgage borrowers have no idea how much they owe

  14-12-2016 10:25 via feedproxy.google.com
  
  TOO many mortgage borrowers fail to understand how their deal works and could face a shock when interest rates finally start rising, new research suggests.
  
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• Inflation challenge to the long-suffering savers in Britain

  14-12-2016 09:56 via feedproxy.google.com
  
  SAVERS now have to rise to the added challenge of beating inflation if they want to get a decent return on their money.
  
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• Working with the NHS: 'doors are opening for innovative small firms'

  14-12-2016 09:15
  
  The health service is increasingly relying on small businesses to meet its needs. But how can entrepreneurs find a way in?As the fifth largest organisation in the world, the NHS can provide lucrative opportunities for small business. But from the outside, it’s often seen as an unwieldy, unnecessarily bureaucratic body that’s difficult to break into. For Jason Williams, business development director at seeDATA, a partnership came about through an agreement with the local academic heal
  
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• Charity helping ethnic minority interns loses government funding

  14-12-2016 09:00 via theguardian.com
  
  Creative Access, which provides opportunities for black trainees, faces closure after DfE withdraws supportA charity that provides young black and ethnic minority people with paid training opportunities in creative and media companies, including the BBC and ITV, is facing closure after the government withdrew more than £2m of funding for the scheme.The programme by diversity charity Creative Access was funded by the Department for Business, Innovation and Skills (Bis) until June this year,
  
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• 'Our investors were losing faith in us and I was losing sleep'

  14-12-2016 08:15
  
  When James Dawson tried to find a site to open a wine bar, landlords kept turning him down. So he tried a different tack“You’ll never raise that much!” This was the response from most of my friends and family when I shared my plans to crowdfund £500,000 to take my wine importing business to the high street.I’d been importing wines directly from boutique vineyards for five years – selling them to private clients and hosting tastings for corporates. Many of my c
  
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• Three easyJet flights are cancelled and no one says why

  14-12-2016 08:00 via theguardian.com
  
  Our fare refund has inexplicably been reduced and it won’t pay our expensesA flight I was due to go on from Manchester to Hamburg in June was cancelled as I was going through security. EasyJet took five of us to a hotel in Leven in Flintshire for a flight from Edinburgh to Hamburg the next day.The following morning the taxi easyJet had promised did not turn up. I paid £60 for a replacement for the five of us and we arrived at the airport just before the check-in desk was due to close
  
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• Homes for skiers – in pictures

  14-12-2016 08:00 via theguardian.com
  
  These properties, from Slovenia to Austria and Suffolk, are in pole position for some fun on the slopesContinue reading...
  
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• UK 4G coverage worse than in Romania and Peru, watchdog finds

  14-12-2016 01:01 via theguardian.com
  
  National Infrastructure Commission says UK is being held back by poor mobile connectivity and calls for end to ‘digital deserts’Britain’s 4G mobile phone coverage is worse than that in Albania, Panama, Peru and Romania, with users able to connect barely half the time, a government infrastructure watchdog has found.In a major new report, the National Infrastructure Commission said the UK is being held back by poor mobile phone connectivity, as it called for an end to “digi
  
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• HSBC shutting four bank branches a week

  14-12-2016 01:01 via theguardian.com
  
  Consumer body Which? calculates that banks have closed 1,000 branches in past two years as online banking growsHSBC has revealed that it is shutting more than four branches a week and that at least 57 more will be axed in the first few weeks of 2017. High-street banks have closed more than 1,000 branches in the UK during the past two years, according to consumer body Which?.It has called on banks to consult with communities before implementing closures to ensure that the needs of their customers
  
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