Financial news

• UK Tourism Budget Down 12% | Financial Tribune - Financial Tribune

  30-12-2016 23:59
  
  Financial Tribune
  UK Tourism Budget Down 12% | Financial Tribune
  Financial Tribune
  The agency promoting the UK worldwide as a holiday destination faces a £2.5 million cut in its budget because of the fall in the pound's value following the vote ...en meer »
  
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• Lloyd's of London's Inga Beale made a dame in New Year honours list

  30-12-2016 23:30 via theguardian.com
  
  Beale, Lloyd’s first female boss, recognised along with Mumsnet’s Justine Roberts and designer Anya Hindmarch, who get CBEsLeading women in British business, including the chief executive of Lloyd’s of London, Inga Beale, have been recognised in the New Year honours list.Beale has been made a dame, while there are CBEs for the designer Anya Hindmarch, Rosaleen Blair, the founder of headhunting company Alexander Mann Solutions, and Justine Roberts, the co-founder of Mumsnet. Con
  
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• City news: Jobs market, unions and Run-DMC

  30-12-2016 21:04 via feedproxy.google.com
  
  RAP group Run-DMC has filed a $50million lawsuit in New York accusing Wal-Mart, Amazon and other retailers of selling products that traded on the group’s name without permission.
  
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• New markets add ad to fizzing English wine exports

  30-12-2016 20:24 via feedproxy.google.com
  
  ENGLISH sparkling wine exports are fizzing, with several new markets added to the list of destinations in 2016, according to producers.
  
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• A tumultuous year: the 2016 global economy in 10 charts

  30-12-2016 17:04 via theguardian.com
  
  The Dow’s Trump-fuelled rally, the pound’s Brexit-led tumble, gold’s surge and Italy’s high youth unemployment – the year hasn’t been short of drama Continue reading...
  
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• FTSE 100 SURGE: Index closes at all-time high for THIRD day running

  30-12-2016 16:22 via feedproxy.google.com
  
  LONDON’S top-flight index surged to an all-time high and recorded its best year since 2013 after riding out a turbulent 12 months thanks to a boost from the Brexit-hit pound.
  
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• FTSE 100 ends 2016 at all-time high of 7142 points – as it happened

  30-12-2016 16:22 via theguardian.com
  
  London stock market hits its third record high in a row, on the final trading day of the yearBreaking: FTSE 100 ends 2016 at record levelsBlue-chip index has posted its best year since 2013Weak pound drove shares up
  Analysts predict turbulence in 2017Introduction: It’s the final trading day of 20163.22pm GMTThe City of London has officially shut down for another year.The FTSE 100 has ended a tumultuous year at an all-time high, boosted by a surge in mining companies and dollar earners and
  
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• Councils told to keep tax hikes low despite social care budget holes

  30-12-2016 15:54 via theguardian.com
  
  Ministers stress policy to keep council tax low amid reports some local authorities are considering ways to plug funding gapsMinisters have told local authorities to keep council tax rises low amid reports that some are considering referendums on increasing charges by as much as 16% to cope with holes in their social care budgets.Sajid Javid, the communities secretary, announced earlier this month that he would allow councils to increase charges by an additional percentage point, meaning bills c
  
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• FTSE 100 ends 2016 at all-time high after surge in dollar earners

  30-12-2016 14:30 via theguardian.com
  
  Hopes of spending spree by Donald Trump help push index to record for third day and make it best-performing European marketThe FTSE 100 has ended a tumultuous year at an all-time high, boosted by a surge in mining companies and dollar earners and hopes of a spending spree by the US president-elect Donald Trump.Britain’s blue chip index closed a shortened trading day at 7,142.83, up 22.57 points, beating the previous intra-day peak of 7,129.82 set in October. It was the third day in a row t
  
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• KitKat maker gives three fingers the thumbs down

  30-12-2016 13:49 via theguardian.com
  
  Nestlé boss Dame Fiona Kendrick promises it will manage Brexit costs responsibly and look after ‘well-loved brands’KitKat lovers can eat happy in the knowledge that the chocolate bar will not be downsized to cut Brexit-related costs. Dame Fiona Kendrick, Nestlé’s boss in the UK and Ireland, said the four-fingered version of the much-loved biscuit bar would not be reduced to three to lower costs. Continue reading...
  
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• UK banks and financial firms looking at Ireland says IDA - Business World (press release) (blog)

  30-12-2016 13:21
  Business World (press release) (blog)
  UK banks and financial firms looking at Ireland says IDA
  Business World (press release) (blog)
  The Guardian newspaper last week published an article with Martin Shanahan, the Chief Executive of the Industrial Development Agency (IDA), the agency tasked with bringing foreign investment into the republic. In the interview, he confirmed that banks ...
  
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• Deadline looms for Indian cash overhaul

  30-12-2016 12:56 via theguardian.com
  
  Users have until midnight to declare or deposit 500- and 1,000-rupee banknotes as cash crisis continuesIndians will no longer be able to exchange expired currency for new notes after midnight on Friday as severe cash shortages continue to disrupt daily life across the country.The prime minister, Narendra Modi, gave Indians a 50-day window to declare and deposit their 1,000- and 500-rupee notes after a surprise announcement on 8 November that both denominations would become invalid that evening.
  
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• The starry night in Syria – in pictures

  30-12-2016 11:54 via theguardian.com
  
  Reuters photographer Ammar Abdullah captures rare quiet nights in the province of Idlib in north-west Syria before the announcement of a ceasefire between the Assad government and rebels Continue reading...
  
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• Industry predicts 2017 rate rise as UK economy rebounds - Financial Reporter

  30-12-2016 11:47
  
  Financial Reporter
  Industry predicts 2017 rate rise as UK economy rebounds
  Financial Reporter
  This may well be the year when the turn in the interest rate cycle takes effect – even if that first rise is just modest at 0.25%. Richard Stone, Chief Executive of The Share Centre, predicts that the UK economy will perform better than many anticipate ...
  
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• Southern rail passengers face new year disruption as strikes bite

  30-12-2016 11:40 via theguardian.com
  
  RMT members will strike for three days from New Year’s Eve while Aslef’s overtime ban over driver-only trains continuesSouthern rail passengers have been told services will be severely disrupted over the next few days because of a fresh strike by guards and an ongoing overtime ban by drivers.
  Members of the Rail, Maritime and Transport union will walk out for three days from New Year’s Eve in a long-running row over the role of conductors, while the train drivers’ union A
  
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• Italy FURIOUS at European Central Bank as it DOUBLES estimate of ailing bank bailout

  30-12-2016 10:52 via feedproxy.google.com
  
  ITALY has attacked the European Central Bank over its decision to double its estimate of the capital shortfall for the ailing bank Monte dei Paschi di Siena , which is being bailed out by the state.
  
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• FTSE slips from record close, while Icap and Tullett complete deal

  30-12-2016 10:50 via theguardian.com
  
  Interdealer brokers swap assets and begin trading under new namesLeading shares are drifting away from their record close, but are still set to record their best performance since 2009.In a shortened trading day, the FTSE 100 has so far lost 23.02 points to 7,097.24, with a mixed picture for traders to digest. After Thursday’s gold-price related gains, precious metal miner Fresnillo has fallen 19p to £12.05 while Randgold Resources is steady at £64.15. Continue reading...
  
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• RBS investors call for governance changes to improve transparency

  30-12-2016 09:06 via theguardian.com
  
  Shareholder committee ‘would prevent poor stewardship’ at Royal Bank of Scotland to avoid rerun of near collapse About 160 investors are calling for the Royal Bank of Scotland to shore up corporate governance by creating a shareholder committee to sniff out “poor stewardship”.The aim is said to be to avoid a rerun of the bank’s near-collapse in 2008.Continue reading...
  
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• 'Vultures dressed up': the entrepreneurs rejecting venture capital funding

  30-12-2016 08:00 via theguardian.com
  
  It’s seen as the holy grail for many small businesses. But could VC investment do your company more harm than good?Entrepreneur James Davis* secured £100,000 in venture capital finance to start an IT business, in exchange for a 50% stake in his company. He was assigned a “handler” to talk to, but says there was “very little engagement or involvement” and “none of the dialogue” he expected. “Nine months later we were growing but not at the rat
  
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• Iain Wright, the MP bringing Mike Ashley and Sir Philip Green to book

  30-12-2016 08:00 via theguardian.com
  
  The MP for Hartlepool has become a central character in the BHS and Sports Direct scandals that engulfed the British business world in 2016“Do I have to have a beer with either of them?” asks Iain Wright, the chairman of the Commons’ business select committee, when quizzed about which, of the two billionaires he interrogated during 2016, he would choose to meet for a Christmas pint.“Do you know what? I think Mike Ashley would like a pint more than [Sir] Philip Green,&rdqu
  
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• Financial Services Quarterly Report - Fourth Quarter 2016: UK Autumn ... - JD Supra (press release)

  30-12-2016 03:44
  
  Financial Services Quarterly Report - Fourth Quarter 2016: UK Autumn ...
  JD Supra (press release)
  In his first (and last) Autumn Statement, the Chancellor of the Exchequer, Philip Hammond, announced a number of tax measures affecting the financial services industry, although many of these changes had been the subject of earlier announcements or ...
  
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• Zero-hours workers '£1,000 worse off a year' than employees

  30-12-2016 01:01 via theguardian.com
  
  Resolution Foundation study highlights a 93p per hour pay penalty for zero-hour workers doing the same work as those on permanent contractsWorkers on zero-hours contracts lose an estimated £1,000 a year compared with employees doing the same work, according to a study that underscores the divide between people in precarious jobs and those who have a permanent contract.The Resolution Foundation said all workers who find themselves without a permanent, full-time role lose out in terms of wag
  
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• Working people need fairer share of economic gains, says TUC head

  30-12-2016 01:01 via theguardian.com
  
  Frances O’Grady calls for ‘new bargain’ and warns of threat to workers’ rights from BrexitWorking people in Britain must get a “new bargain” in 2017 that gives them a fairer share of the country’s economic gains and that turns the tide in an increasingly precarious jobs market, the head of the Trades Union Congress has urged.In her new year’s message, Frances O’Grady also pressed the government to ensure workers’ rights are maintained a
  
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• More than 150 RBS investors lack faith in bank and call for corporate governance changes

  30-12-2016 01:01 via feedproxy.google.com
  
  ABOUT 160 investors are demanding the Royal Bank of Scotland shores up corporate governance by creating a shareholder committee to sniff out "poor stewardship" and avoid a rerun of the bank's near collapse in 2008.
  
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