Financial news

• Why 2017 won't be the year women get paid the same as men

  27-12-2016 23:45
  
  It’s been a dreadful year and unless women shout loudly, the new year - and the 170 years after that - will still see pay inequality
  All in all 2016 hasn’t been a great year for women’s rights. The small flicker of hope that we might finally have a female president in the US was thoroughly doused by Donald Trump. Last year two women won a Nobel prize; this year there was none. The number of female CEOs in the Fortune 500 dropped. And research announced at the World Economic Fo
  
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• Original concert ticket sellers also rip off buyers | Letters

  27-12-2016 19:10
  
  Once again the problem with secondary ticket prices is being “investigated” (Ticket resale sites face inquiry, 20 December). Though laudable, why not take this a step further and investigate the ripping off of ticket buyers by the original ticket sellers. The upfront advertised price of tickets is nowhere near what you actually pay. Booking fees, handling charges, postage, etc can add quite a lot to the cost of each ticket.How can companies justify booking fees of say £8 on a &
  
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• 'Negligible' link between executive pay and firm's performance, says study

  27-12-2016 18:56
  
  Wage packets of FTSE 350 chief executives have risen 82% in 13 years, while return on money invested has been 1%, CFA UK findsThe link between executive pay and company performance is negligible, according to a study that will fuel arguments for reform of corporate wage packets.The chief executives of Britain’s leading 350 companies each took home a median pay package of £1.9m in 2014, a rise of 82% on 13 years ago, research commissioned by the UK arm of the CFA Institute, the global
  
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• Labour: new public appointments rules are 'power grab' by Tories

  27-12-2016 18:55
  
  Ministers to have more say than independent commissioner on top job appointments at BBC and other agenciesTheresa May’s government has been accused of changing the rules on public appointments to make it easier in future for ministers to pick their political allies for senior jobs at the BBC and regulators such as Ofsted.The new code on public appointments will give ministers greater powers over who oversees a raft of agencies, watchdogs and advisory committees, while weakening the involve
  
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• BHS workers swamp Charles Dickens charity with help requests

  27-12-2016 18:53
  
  Trust once chaired by Hard Times author receives record number of applications from struggling families asking for support for their childrenA hardship charity once chaired by Charles Dickens has been overwhelmed with requests for support from struggling shopworkers in the months since the collapse of BHS.The failure of the department store chain earlier this year, which triggered 11,000 job losses, has led to a record number of applications to the Fashion and Textile Children’s Trust for
  
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• Brexit worries and online stores hit shopping centre sales

  27-12-2016 18:02
  
  Retail outlet footfall drops drastically as fewer shoppers make Boxing Day trips and prefer leisure experiences to spending on physical goodsRetailers are facing a tough close to the festive season amid signs that shoppers have ditched the traditional post-Christmas sales trip due to Brexit worries and the growing popularity of online stores.Shopping centres had a particularly disappointing Boxing Day, suffering a 19.9% year-on-year drop in footfall – a measure of shopper numbers. High str
  
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• Sports Direct sells Dunlop for $137m

  27-12-2016 13:58
  
  Sportswear brand once ubiquitous in golf and tennis tournaments sold to Japanese buyer Sumitomo Rubber IndustriesSports Direct is selling Dunlop, the sportswear brand known for its green flash tennis shoes, to a Japanese buyer in a surprise $137.5m (£112m) deal.Sumitomo Rubber Industries confirmed that it will acquire the trademark rights of the Dunlop brand overseas, as well as its sporting goods and licensing businesses. Continue reading...
  
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• Monte dei Paschi shortfall €8bn, ECB says

  27-12-2016 12:44
  
  Italian bank’s bailout cost rises as European Central Bank puts recapitalisation requirement higher than previously estimatedThe cost of rescuing Monte dei Paschi has escalated after the European Central Bank told the struggling Italian lender that it required €8.8bn (£7.5bn) to mend its finances.The lender, Italy’s third-largest bank, has tried in vain to arrange a €5bn rescue package with private investors but the ECB said the sum would not have been enough. Continu
  
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• Generation rent: official figures overstate UK home ownership - study

  27-12-2016 11:56 via theguardian.com
  
  Resolution Foundation finds barely half of British families own their own home in research highlighting rise of rentingBarely half of all families in Britain own their own home, research highlighting the extent of the rise of generation rent shows.A study by the Resolution Foundation thinktank has shown that official figures have exaggerated home ownership, which has been in steady decline since 2002.Continue reading...
  
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• Private firms earn £500m from disability benefit assessments

  27-12-2016 07:00 via theguardian.com
  
  Capita and Atos earn huge sums, despite intense criticism from MPsTwo private firms have earned more than £500m in taxpayers’ money for carrying out controversial disability benefit assessments.The Department for Work and Pensions (DWP) paid Atos and Capita £507m for personal independence payment (PIP) tests between 2013 and 2016, despite fierce criticism of their services by MPs. Continue reading...
  
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• Post Brexit UK banks, financial firms may relocate to Ireland - Hindustan Times

  27-12-2016 06:15
  
  Hindustan Times
  Post Brexit UK banks, financial firms may relocate to Ireland
  Hindustan Times
  Part of a pro-Brexit protester's placard held up outside the Supreme Court in central London. (REUTERS). Banks and financial institutions make up the overwhelming majority of more than 100 companies inquiring about relocating to Ireland after Brexit ...
  
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• Rising cost of essentials leaves UK households with less cash for treats

  27-12-2016 01:01
  
  Report by Lloyds suggests pound’s steep fall since Brexit vote is raising import costs and leading to higher prices for consumersHouseholds are being left with less cash to spend on treats or to stash away as savings as the rising cost of essentials like food and fuel take a bigger chunk out of family budgets.A new report on household finances from Lloyds bank echoed other signs that the pound’s steep fall since the Brexit vote is raising import costs for the UK and trickling through
  
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