Financial news

• Wall Street attorney Jay Clayton nominated for SEC chairman

  04-01-2017 20:56
  
  If confirmed, Trump’s pick will head federal agency that regulates financial markets though Dodd-Frank law, which president-elect seeks to overhaulPresident-elect Donald Trump on Wednesday chose a Wall Street attorney with experience in corporate mergers and public stock launches as his nominee to head the Securities and Exchange Commission (SEC).Trump announced his nomination of Jay Clayton, a partner in the law firm Sullivan and Cromwell, as chairman of the independent agency that overse
  
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• Cause for alarm at Next as Wolfson's policy shift betrays his pessimism

  04-01-2017 20:12
  
  With a move away from share buy-backs, retailer’s chief executive is saying he does not know how bad things will turn outLord Wolfson’s default setting is caution. So, as shopkeepers across the land await the coming squeeze on consumers’ incomes, it is not a surprise to hear the chief executive of Next drifting closer to outright gloom.The slowdown in spending on clothing and footwear, which he says started in November 2015, will continue this year. Next’s post-Christmas
  
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• Next shares slump after gloomy 2017 forecast and unfestive figures

  04-01-2017 19:40
  
  Fashion retailer biggest faller on FTSE 100, with Marks & Spencer and Debenhams also down after rival predicts slowdownNext’s share price slumped by more than 14% after the fashion and homewares retailer warned of lower-than-expected profits this year and a tough year ahead as a result of rising inflation and shoppers switching away from buying clothing.Its chief executive, Simon Wolfson – a prominent Vote Leave campaigner, said consumers were buying less clothes and instead spen
  
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• Bhuti's one-stop service sets new standard for day spas

  04-01-2017 19:36 via feedproxy.google.com
  
  “FITNESS is changing. It’s both body and mind now. We’re different because we offer it all under one roof,” says Samantha Trinder describing her day spa Bhuti and new moves in the wider market.
  
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• Final salary pension deficit of biggest listed firms in UK 'hits £137bn'

  04-01-2017 18:32 via theguardian.com
  
  Consultancy says combined deficit has trebled from £39bn in previous year despite stock market ending year on highThe combined final salary pension deficit of the UK’s 350 largest listed companies more than trebled to reach £137bn in 2016, despite the stock market ending the year on a high, according to a leading consultancy.The retirement consultancy Mercer said a sharp fall in corporate bond yields and higher inflation expectations had both hit schemes. It found that the comb
  
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• Southern rail drivers split planned six-day strike in two

  04-01-2017 17:40 via theguardian.com
  
  Train company says two three-day strikes will ‘maximise misery for commuters’Two weeks of unprecedented disruption on Southern rail now loom in January after a planned six-day walkout by train drivers was split over two periods, a move which the train company said would “maximise misery for commuters”.The driver’s union, Aslef, said it was “taking a longer-term view” of the dispute, and warned that strikes over driver-only operated trains could spread to
  
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• EU CRACKS DEEPEN: Germany and ECB set for showdown as inflation soars to four-year high

  04-01-2017 17:38 via feedproxy.google.com
  
  TENSIONS between German politicians and the European Central Bank are likely to erupt again after inflation in the eurozone jumped to its highest level in four years in December.
  
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• Old Mutual Global Investors UK Ltd. Buys 789870 Shares of Voya Financial, Inc ... - BBNS

  04-01-2017 16:38
  
  BBNS
  Old Mutual Global Investors UK Ltd. Buys 789870 Shares of Voya Financial, Inc ...
  BBNS
  Voya Financial logo Old Mutual Global Investors UK Ltd. increased its stake in Voya Financial, Inc. (NYSE:VOYA) by 68.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned ...en meer »
  
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• Financial Settlement In England Following Divorce Proceedings Abroad - Mondaq News Alerts (registration)

  04-01-2017 16:24
  Financial Settlement In England Following Divorce Proceedings Abroad
  Mondaq News Alerts (registration)
  Cross-border divorce raises unique issues, not the least being where to actually initiate divorce proceedings. Often an individual will return to their country of origin for the divorce, despite being domiciled in the UK. Once the divorce has been ...
  
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• Cruise firm All Leisure Holidays goes bust with 400 customers abroad

  04-01-2017 16:13 via theguardian.com
  
  Holidaymakers who are currently overseas will be repatriated under Atol scheme, says Civil Aviation AuthorityThe holiday firm that operates the Swan Hellenic and Voyages of Discovery cruise programmes has stopped trading, with hundreds of customers overseas.The Civil Aviation Authority (CAA) said it would ensure All Leisure Holidays’ 400 holidaymakers currently abroad would be repatriated at no extra cost under the terms of the Atol protection scheme.Continue reading...
  
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• Discover Financial Services (DFS) Stake Boosted by Old Mutual Global Investors ... - Community Financial News

  04-01-2017 15:44
  
  Community Financial News
  Discover Financial Services (DFS) Stake Boosted by Old Mutual Global Investors ...
  Community Financial News
  Discover Financial Services logo Old Mutual Global Investors UK Ltd. raised its position in shares of Discover Financial Services (NYSE:DFS) by 55.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission.en meer »
  
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• CMA voices concerns over Mastercard's Vocalink deal

  04-01-2017 15:29
  
  Competition watchdog says takeover of payments system could affect Link ATM networkThe competition watchdog has raised concerns that a takeover of a payments system by Mastercard could have an impact on the Link cash machine network. The Competition and Markets Authority has given Mastercard a week to tackle its concerns that its takeover of Vocalink will restrict the number of companies able to provide systems to Link, which operates more than 70,000 automatic teller machines (ATMs) around the
  
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• REVEALED: The cheapest and most expensive places to buy petrol in the country

  04-01-2017 15:22 via feedproxy.google.com
  
  BRITISH drivers could pay up to £220 a year more to fill up their tanks simply because of where they live, analysis has showed.
  
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• Retailer B&M reveals hearty Christmas trading period

  04-01-2017 15:19
  
  Sales were up 7.2% at established UK stores in 13 weeks to 24 December, with overall group having best quarter since 2013 The discount retail chain B&M has revealed a bumper Christmas trading period as cautious shoppers looked to save money.Sales rose 7.2% at the group’s UK established stores in the 13 weeks to Christmas Eve, with 1.1% of that lift coming from an extra day of trading. The company said underlying growth had increased thanks to strong seasonal product ranges and better s
  
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• Rex Tillerson cuts ties with Exxon Mobil via $180m retirement package

  04-01-2017 15:16
  
  Donald Trump’s nominee for secretary of state will surrender all unpaid stock for a cash payment before his Senate confirmation hearing starts next weekExxon boss Rex Tillerson will receive more than $180m from the company as he severs financial ties with the oil industry to become Donald Trump’s secretary of state. Tillerson’s confirmation hearings begin next week. Related: Rex Tillerson named as Donald Trump's secretary of stateContinue reading...
  
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• Trump's tweets keep US manufacturers on their toes

  04-01-2017 14:54
  
  Criticism of Ford, GM and others raises prospect of elements of US industrial strategy being formulated on social mediaDonald Trump’s prolific and opinionated tweeting helped him win the US election, and now he is using Twitter to persuade big business to bend to his agenda. There was further evidence this week that the incoming president’s unusual approach is paying off after Ford cancelled plans to open a new plant in Mexico. It came one month after a Trump-brokered agreement with
  
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• Brexit: pro-leave Next boss urges government to lay out core principles

  04-01-2017 14:51
  
  Simon Wolfson says openness on immigration would help retailers that employ large proportion of EU nationalsBrexit campaigner Lord Wolfson, chief executive of clothing retailer Next, has called on the government to lay out some of the core principles of its Brexit strategy.Simon Wolfson, who has previously warned that the British economy would be “finished” if the government pursued an isolationist Brexit course, said: “It would be helpful to understand the principles and objec
  
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• UK credit binge approaching levels not seen since 2008 crash

  04-01-2017 14:41 via theguardian.com
  
  Debt charity issues warning to government after unsecured consumer credit grew at fastest rate in more than 11 yearsA credit boom that is close to levels not seen since the 2008 financial crash should set alarm bells ringing in Theresa May’s government, a debt charity has warned.The latest figures from the Bank of England show unsecured consumer credit, which includes credit cards, car loans and second mortgages, grew by 10.8% in the year to November to £192.2bn, picking up pace on t
  
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• UK shoppers are still happy to borrow – but danger may lie ahead

  04-01-2017 14:40
  
  Shoppers are still pulling out the plastic, but borrowing may become less choice and more necessity as budgets are squeezedBritain went on a bit of a borrowing binge as Christmas approached. Unable to resist all the bargains on offer on Black Friday, shoppers pulled out the plastic. The rise in unsecured consumer debt in November was the biggest for more than a decade.News of the increase in consumer debt is not exactly a surprise. When the Bank of England cut interest rates in August last year,
  
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• Renewables investment in UK will fall 95% over next three years – study

  04-01-2017 14:31
  
  Analysis reveals extent of decline because of subsidy cuts and raises concerns about Britain meeting emissions targetsInvestment in windfarms will fall off a “cliff edge” over the next three years and put the UK’s greenhouse gas reduction targets at risk, a thinktank has found.More than £1bn of future investment in renewable energy projects disappeared over the course of 2016, the Green Alliance found when it analysed the government’s latest pipeline of major infras
  
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• Euro collapse by 2022: Member state WILL leave currency within five years, experts say

  04-01-2017 14:31 via feedproxy.google.com
  
  THE euro is at increasing risk of a bombshell exit by a member country, which could tip the single currency into meltdown, according to leading experts.
  
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• Webster Financial Corporation (NYSE:WBS) Under Analyst Spotlight ... - UK Market News

  04-01-2017 14:13
  Webster Financial Corporation (NYSE:WBS) Under Analyst Spotlight ...
  UK Market News
  Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares ...en meer »
  
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• Deck the halls with share options: today is Fat Cat Wednesday | Anne Perkins

  04-01-2017 13:24
  
  Yes, it takes FTSE 100 bosses little more than two days to make the average annual salary. Is this fact a spur to action on inequality, or just a statistical stunt?Just when it seemed Christmas and New Year really were finally over, it’s time to get the festive wear out one last time, for today is Fat Cat Wednesday. This is not (although Twitter followers might be forgiven for the mistake) a celebration of chubby moggies falling off the sofa. By lunchtime today, a mere two and a half days
  
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• Southern rail strike next week cut from six days to three

  04-01-2017 13:23
  
  Aslef reduces length of next week’s industrial action but drivers will strike for further three days at end of monthA six-day strike by drivers on Southern rail next week has been cut to three days, but there will be three further strike days at the end of the month.Members of Aslef were due to walk out from Monday, which would have halted services for the entire week. Continue reading...
  
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• People's United Financial Inc. (NASDAQ:PBCT) Valuation According To Analysts - UK Market News

  04-01-2017 13:17
  People's United Financial Inc. (NASDAQ:PBCT) Valuation According To Analysts
  UK Market News
  As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of People's United Financial Inc. (NASDAQ:PBCT). Latest broker research notes issued: 12/21/2016 – Stephens began new coverage on People's United ...en meer »
  
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• Ocwen Financial Corporation (NYSE:OCN) Valuation According To Analysts - UK Market News

  04-01-2017 13:03
  Ocwen Financial Corporation (NYSE:OCN) Valuation According To Analysts
  UK Market News
  As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Ocwen Financial Corporation (NYSE:OCN). Latest broker research notes issued: 10/27/2016 – Ocwen Financial Corporation was downgraded to “neutral” ...
  
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• UK construction industry enjoys fast growth in new orders

  04-01-2017 11:26
  
  Report follows strong manufacturing survey, painting better-than-expected economic picture after Brexit voteThe UK construction industry enjoyed the fastest growth in new orders in almost a year in December, according to a survey, but the weaker pound has driven up firms’ material costs to their highest in five-and-a-half years.The upbeat report from Markit/CIPS comes a day after a strong survey for the manufacturing sector, where activity hit a two-and-a-half-year high last month. Togethe
  
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• Next share price PLUNGES 14 per cent after shock profit warning

  04-01-2017 09:48 via feedproxy.google.com
  
  RETAIL giant Next saw shares plunge as much as 14 per cent after revealing a worse-than-expected performance over Christmas.
  
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• The fintech entrepreneur doubling as Arnold Schwarzenegger’s sidekick

  04-01-2017 08:15
  
  Gemma Godfrey, founder of Moola, talks about appearing on The Celebrity Apprentice US and why finance is dominated by menI’m sure it’s the same for everyone in financial services: you’re often approached by friends asking you what they should do with their money [Godfrey has worked in financial management since 1997]. For me this was magnified because I was being asked the same question on television while appearing as a money and consumer expert [Godfrey’s credits includ
  
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• Virgin gets back on track with rail ticket refunds

  04-01-2017 08:00 via theguardian.com
  
  Train company changes policy after pressure from readers and passenger group over refunding commuters if they find their lost railcardA few weeks ago we covered the case of GC of London who had forgotten their disabled person’s railcard while on a Virgin West Coast train between Manchester Piccadilly and London Euston. They had to buy two new tickets at full price (an eye-watering £201.85 each compared with £35.65 for the advance tickets with the railcard).GC found their railca
  
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• Rail chiefs or unions: can passengers trust either of them? | Rafael Behr

  04-01-2017 08:00 via theguardian.com
  
  As commuters face strikes and price rises it’s clear that a key problem is the lack of accountability. But renationalisation is not the answerIf solidarity among British people experiencing a common misfortune could be measured, the scientific unit would be the blitz. When train delays are announced, sensitive instruments might read the synchronised rolling of eyes on station concourses in milliblitzes. Inside a carriage that has stopped between stations, there is a steady buildup of centi
  
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• Miniature homes – in pictures

  04-01-2017 08:00 via theguardian.com
  
  From Suffolk to Somerset and Surrey, these tiny spaces are small wonders Continue reading...
  
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• UK bosses make more in two and a half days than workers earn all year

  04-01-2017 01:01 via theguardian.com
  
  High Pay Centre says £1,000-an-hour bosses will pass £28,000 average salary by lunchtime on ‘Fat Cat Wednesday’The UK’s top bosses will have made more money by lunchtime on Wednesday than the typical UK worker will earn all year, according to an analysis that exposes the gulf between executives and the rest of the workforce.On “Fat Cat Wednesday” campaigners say that public anger with elites will intensify unless action is taken to tackle excess among ex
  
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• Now Christmas is over it is time to get your debts under control

  04-01-2017 01:01 via feedproxy.google.com
  
  WITH the Christmas spending splurge finally over, now is the right time to get all your debts under control.
  
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• How to make the most of booming Britain as the stock market hits record highs

  04-01-2017 01:01 via feedproxy.google.com
  
  LAST year’s stock market boom has continued where it left off, with the FTSE 100 hitting a fresh record high of 7202 in early trading yesterday.
  
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• Celebrity deaths: Stars highlight the inheritance tax risk

  04-01-2017 01:01 via feedproxy.google.com
  
  Recent high-profile deaths are a timely reminder that everyone should make financial plans for when they are gone.
  
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