Financial news

• Genworth Financial Inc (GNW) Shares Bought by Old Mutual Global Investors ... - BBNS

  06-01-2017 21:14
  
  BBNS
  Genworth Financial Inc (GNW) Shares Bought by Old Mutual Global Investors ...
  BBNS
  Genworth Financial logo Old Mutual Global Investors UK Ltd. increased its position in shares of Genworth Financial Inc (NYSE:GNW) by 10.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission ...en meer »
  
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• Courier wins holiday pay in key tribunal ruling on gig economy

  06-01-2017 20:39
  
  Judge decries contract and rules CitySprint must award holiday pay to cycle courier wrongly classed as self-employedA cycle courier working for the delivery firm CitySprint has won the right to paid holidays and minimum pay in a key ruling on the gig economy.The central London employment tribunal ruled that CitySprint had unlawfully failed to award holiday pay to Mags Dewhurst and had wrongly classed her as a self-employed freelancer. CitySprint, which has 3,500 self-employed couriers in the UK,
  
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• We name this ship Brexit Britain - yacht firms toast booming market

  06-01-2017 20:10
  
  Fall in pound since the EU referendum has turbo charged sales, say British boat buildersBoat builders were toasting the Brexit vote with champagne at the opening of the London Boat Show as the collapse in the pound since the June referendum has “super-charged” sales of British luxury yachts to wealthy foreigners.
  Bosses of British yacht companies said sales had increased as much as 50% in the second-half of 2016 compared with the previous year because of the “Brexit discount&rd
  
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• US created fewer jobs than expected, but Dow and FTSE hit new peaks – as it happened

  06-01-2017 19:44
  
  In the final monthly update on US employment under President Obama, fewer jobs were created than forecasts suggestedFTSE 100 hits new record closeUS added 156,000 jobs in DecemberJamie Oliver to shut six restaurantsGatwick reports record passenger traffic 6.44pm GMTBoth the S&P 500 and the Dow Jones Industrial Average have hit new peaks in the wake of the latest US jobs data, showing the economy in reasonably healthy shape and paving the way for further US rate rises.But so far the 20,000 ba
  
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• The couple who made Tiger roar … and millions of pounds in the process

  06-01-2017 19:32
  
  From remortgaging their home to 44 shops, how did it go so right for Philip and Emma Bier and Denmark’s ‘posh Poundland’?Philip and Emma Bier made a life-changing amount of money this week by selling their stake in the Danish homewares retailer Tiger for millions of pounds. The London-based couple brought the quirky Scandinavian brand to Britain with just £200,000 in 2005, scraping together the funds by remortgaging their home. They also gave up their careers to do so. Ph
  
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• UK box office records its biggest-ever total in 2016

  06-01-2017 19:10
  
  Buoyed by success of Rogue One and Fantastic Beasts, UK cinemas beat the previous best figures from the year beforeThe cinema box office in the UK and Ireland achieved its best-ever results, amassing £1.32bn to beat the previous record set in 2015.According to figures released by the box-office tracker comScore, the total for 2016 was 1.45% higher than the previous year, which finished at £1.31bn. With several strong performers in 2015, including Star Wars: The Force Awakens and Spec
  
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• Tracking the cost: UK and European rail commuter fares compared – in data

  06-01-2017 18:34
  
  Monthly rail passes can cost up to 14% of an average British wage, and have just increased by more than the cost of inflation. Would the equivalent tickets on the continent put a similar dent in your pay packet? Related: Is Britain’s rail network getting worse? An Action for Rail report released earlier this week revealed the high cost of rail travel for UK commuters. Continue reading...
  
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• Mountain Warehouse aims to expand abroad after record Christmas sales

  06-01-2017 18:10 via feedproxy.google.com
  
  MOUNTAIN Warehouse weathered the storm engulfing large parts of the high street as it scaled new festive trading heights and lined up further expansion in the UK and abroad.
  
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• President-elect Trump and US-UK cooperation on financial crime - International Law Office (registration)

  06-01-2017 17:40
  
  President-elect Trump and US-UK cooperation on financial crime
  International Law Office (registration)
  There has been much speculation over recent weeks as to what a Trump presidency might mean for US-UK bilateral relations. As a result of the scarcity of detailed policy proposals issued during his campaign for the presidency, commentators have resorted ...
  
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• Let’s move to Durham, County Durham

  06-01-2017 17:30
  
  As buildings go, Durham Cathedral is as good as it gets What’s going for it? Is it silly to move somewhere just because of one building? I think I could, you know. I’m an archi-geek, so perhaps more predisposed to being intoxicated by a smashing guildhall or a stately home. But still: Durham Cathedral, what a place. As buildings go, this is as good as it gets, equal to the Alhambra, the Pantheon or the Parthenon. Walk in and you’re beamed back to a time of monks and border raid
  
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• Tim Cook's bonus pay is cut as Apple misses sales targets

  06-01-2017 16:57
  
  CEO sees payout reduced by 15% as sales and revenue targets slip, although he still netted $135m in shares in 2016Apple’s chief executive, Tim Cook, had his annual payout reduced last year after the company failed to reach its 2016 targets.
  According to Apple’s SEC filings, the company’s annual sales missed its target of $223.6bn (£181.6bn) by 3.7%, reaching only $215.6bn, while operating income came up 0.5% short at $60bn. As a result, Cook received a total payout of $8.
  
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• Economist admits BoE's Brexit financial collapse warnings were 'a misjudgement' - RT

  06-01-2017 16:46
  
  RT
  Economist admits BoE's Brexit financial collapse warnings were 'a misjudgement'
  RT
  Economists failed to predict the 2008 financial crash and completely misjudged Brexit's impact, the executive director of monetary analysis at the Bank of England (BoE) has admitted. Read more. Canary Wharf and the city are seen at sunset in London.en meer »
  
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• Obama's labour market report card: not bad, could have done better

  06-01-2017 16:17
  
  The US job market is at least in better shape than it was in when he assumed office, just months after the collapse of LehmansSo that’s it. The last jobs report of Barack Obama’s presidency has been published and the figures encapsulate his eight-year presidency. Job creation in December was not bad at 156,000, simply a bit mediocre. Better was expected.In Obama’s defence, he was left the worse possible legacy. The world’s biggest economy was in freefall when he arrived i
  
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• Apple is not the only tech company kowtowing to China’s censors | Melissa Chan

  06-01-2017 16:14
  
  There is rightly outrage at Apple removing the New York Times app from its Chinese store. Now let’s take a look at LinkedIn, Evernote and MicrosoftNews of Apple pulling the New York Times app from its store in China has been met with the expected outrage on social media. One online advocacy organisation labelled Apple the “world leader in globalising Chinese censorship”. Tom Grundy of Hong Kong Free Press, an independent online news outlet, tweeted that Apple was now “eag
  
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• US wage growth shows Trump will inherit solid labour market

  06-01-2017 16:07
  
  Barack Obama’s final figures show lower-than-expected job creation – but economy still added more than 2m jobs in 2016The US economy added more than 2m jobs in 2016 and finished the year with a pick-up in wages, suggesting Donald Trump will inherit a solid labour market from outgoing president Barack Obama.The news of the strongest wage growth since 2009 also raised expectations that the president-elect’s first year in office will be accompanied by a series of interest rate ris
  
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• Jamie Oliver to close six restaurants in 'tough market' after Brexit vote

  06-01-2017 15:47
  
  Chef shrinks size of Jamie’s Italian chain in UK to focus on international launches and expansion of Barbecoa brandJamie Oliver is to close six of his Italian restaurants after tough trading and the “pressures and unknowns” following the Brexit vote.Oliver intends to close Jamie’s Italian restaurants in Aberdeen, Exeter, Cheltenham, Richmond, Tunbridge Wells and Ludgate Hill, near London’s St Paul’s Cathedral, by the end of the first quarter of the year.Contin
  
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• Weak UK productivity spurs warnings of living standards squeeze

  06-01-2017 15:29
  
  Experts say employers will struggle to award pay rises if country cannot restore growth to pre-financial crisis levelsA slowdown in the UK’s already lacklustre productivity growth has prompted fresh warnings that households will face a squeeze on living standards this year.Jobs markets experts said employers will struggle to award pay rises that keep pace with mounting inflation unless the country can turn around its poor performance on productivity, a measure of what is produced per hour
  
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• Sturgeon offers to shelve independence vote in return for soft Brexit

  06-01-2017 14:53
  
  Scotland’s first minister would take quick referendum off table if UK wins favourable deal with EU and access to single marketNicola Sturgeon has said she would take a quick Scottish independence referendum off the table if the UK wins a favourable, soft Brexit deal with the EU.In an apparent retreat from her claims last year that a fast second referendum was now “highly likely”, the first minister said her emphasis now was on securing a good deal for the Scottish parliament an
  
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• The Fourth Industrial Revolution review – adapt to new technology or perish

  06-01-2017 14:00
  
  In this slim volume by Klaus Schwab, founder of the organisation behind Davos, corporate-speak disguises a harsh realityMuch mirth ensued recently when Jeremy Corbyn’s crack publicity team issued a photograph of the dear leader with a compressed quote from his speech: “We now face the task of creating a New Britain from the fourth industrial revolution – powered by the internet of things and big data to develop cyber physical systems and smart factories.” Wait, what?One m
  
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• Jamie Oliver BLAMES BREXIT for the closure of six Italian restaurants

  06-01-2017 13:30 via feedproxy.google.com
  
  Jamie Oliver is to close six Jamie's Italian restaurants as the celebrity chef is hit by a combination of rising Brexit cost pressures and tough trading.
  
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• Nearly 700 firms fined total of £1.4m for not paying minimum wage

  06-01-2017 13:29
  
  MPs say penalties on employers including football clubs and restaurants are not enough to stop others from breaking lawNearly 700 firms, including Brighton and Hove Albion and Boris Becker’s favourite Wimbledon restaurant, have been fined nearly £1.4m for paying staff below the minimum wage.The penalty is on top of the previously announced £3.5m in owed wages these 687 employers – which also include a Huddersfield branch of discount chain Poundstretcher and the Dudley div
  
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• Five things economists can do to regain trust

  06-01-2017 12:49
  
  The Bank of England’s chief economist has admitted errors in its Brexit forecast – how can the profession get out of its crisis?The Bank of England’s chief economist has admitted his profession is in crisis having failed to foresee the 2008 financial crash and having misjudged the impact of the Brexit vote. Andy Haldane said it was “a fair cop” referring to a series of forecasting errors before and after the financial crash which had brought the profession’s r
  
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• Economists have completely failed us. They’re no better than Mystic Meg | Simon Jenkins

  06-01-2017 12:47
  
  On Brexit and the 2008 crash their predictions – distorted by politics – were utterly wrong. The profession owes the public an inquest and an apologyIt is official. Figures for the past six months show that the forecasts of instant Brexit catastrophe from the Treasury and the Bank of England were garbage. The Bank’s economist, Andrew Haldane, admitted yesterday that it was a repeat of the failure to predict the 2008 crash. It was another “Michael Fish moment”, when
  
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• British Formula One team Manor Racing on brink of collapse after entering administration

  06-01-2017 12:19 via feedproxy.google.com
  
  BRITISH Formula 1 team Manor Racing is on the brink of collapse after entering administration.
  
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• 2008 crash was economists' Michael Fish moment, says chief economist – video

  06-01-2017 12:19
  
  The Bank of England’s chief economist Andrew Haldane describes the collapse of Lehman Brothers in 2008 as his profession’s ‘Michael Fish moment’. In 1987 BBC weatherman Fish dismissed suggestions that a hurricane would hit the UK. It went on to cause widespread damage to parts of southern England Chief economist of Bank of England admits errors in Brexit forecastingContinue reading...
  
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• The elders fighting FGM in Kenya: 'It robs women of their dignity' – in pictures

  06-01-2017 11:41
  
  NGO Plan International is supporting community leaders in helping to eradicate female genital mutilation across Africa. In Kenya, the initiative is being supported by the Njuri-Ncheke elders, traditional leaders of the Ameru community who are responsible for passing on community knowledge across the generations. Here they explain why they are joining the fight against FGM Continue reading...
  
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• UK Stock To Observe: TETRAGON FINANCIAL GROUP LIMITED ORD USD0 ... - Herald KS

  06-01-2017 11:37
  
  Herald KS
  UK Stock To Observe: TETRAGON FINANCIAL GROUP LIMITED ORD USD0 ...
  Herald KS
  Shares of TETRAGON FINANCIAL GROUP LIMITED ORD USD0.001 (LON:TFG) closed at 12.25 yesterday. TETRAGON FINANCIAL GROUP LIMITED ORD USD0.001 currently has a total float of 139.69M shares and on average sees 7,688 shares exchange ...en meer »
  
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• THREE business surveys DEFY Brexit uncertainty in more crushing blows to fear mongering

  06-01-2017 11:10 via feedproxy.google.com
  
  THREE business surveys have revealed strong economic growth during the final month of 2016 in a crushing blow to Remoaners' fear mongering over Brexit.
  
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• Christmas boost for easyJet as 5.6m people fly in December

  06-01-2017 10:59
  
  Rise of 15.1% in passenger numbers is welcome news for airline after it suffered sharp fall in annual profitsEasyJet enjoyed a big rise in passenger numbers in December as Britons put aside concerns about the falling pound to seek out winter sun in the Canaries or Spain. European city breaks were also popular in the run-up to Christmas.The budget airline flew nearly 5.6 million passengers last month, 731,720 more than a year earlier – a 15.1% rise. This took the number of passengers transp
  
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• UK wind power overtakes coal for first time

  06-01-2017 10:54
  
  Green groups hail analysis showing collapse in coal due to power station closures and rising carbon taxesWindfarms across the UK generated more electricity in 2016 than coal power plants for the first time, according to an analyst’s estimates.Three major coal power stations closed last year, causing coal electricity generation to plummet to 9.2%, down from 22.6% in 2015. Wind power provided 11.5% of generation in 2016, slightly down from 12% in 2015. Continue reading...
  
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• We contribute billions to US economy, Toyota politely tells Trump

  06-01-2017 10:50
  
  After familiar outburst against plans for factory in Mexico, Japanese company calmly explains it employs more than 136,000 people in AmericaJapanese officials have defended Toyota’s contribution to the US economy after Donald Trump threatened to impose a “big border tax” on the carmaker if it went ahead with plans to open a new plant in Mexico.
  Trump’s tweet was followed by Toyota shares dropping more than 3% in morning trade in Tokyo on Friday. Shares in Nissan and Honda
  
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• What’s wrong with spending your benefits on prosecco? Nothing | Phil McDuff

  06-01-2017 10:26
  
  Moaning about the fecklessness of the poor, as Phillip Schofield did, may make some of us feel virtuous. But we belittle ourselves and damage our economyThe first benefits “fauxtrage” of 2017 is upon us, barely a week in. Harrumpher-in-chief Phillip Schofield decided that the best use of his time was to shake his head patronisingly at a woman who had the gall to buy two bottles of prosecco on her “Christmas bonus” – a pittance added to her benefits payments. This le
  
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• Eight dos and don'ts for launching a successful business

  06-01-2017 09:34
  
  Many small businesses struggle to find their feet in their first year. Nick Leech looks back at his past failures and describes what he’d do differently Despite the internet making it easier than ever for small businesses to take on the big guys and win, the fact is that the first year of business can be difficult. Any successful entrepreneur is likely to have experienced failure more than once – myself included. I’ve succeeded a couple of times but I also have a nice back cata
  
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• City news: Sports Direct, Persimmon, Timpson and JCB

  06-01-2017 08:39 via feedproxy.google.com
  
  JCB has landed a $142million order to supply the US Army with a fleet of more than 1,600 forklift trucks.
  
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• Services sector cooks up boost for economy

  06-01-2017 08:17 via feedproxy.google.com
  
  BRITAIN’S economy saw out 2016 with strong momentum after the dominant services sector grew faster than expected in December.
  
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• What is the bitcoin? Why did bitcoin hit a record high before falling this week?

  06-01-2017 08:00 via feedproxy.google.com
  
  BITCOIN plummeted yesterday after reaching a record high earlier this week. Here is what you need to know about the world’s biggest virtual currency.
  
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• Samsung says it’s out of spares for my 18-month-old washing machine

  06-01-2017 08:00
  
  It cost £1,700, is still on sale and I offered to pay for a repair – but it won’t budgeWhen my 18-month-old washing machine sprang a leak, Samsung sent a technician and he diagnosed a tear in the drum. Then things started to go downhill. We chased for information for two weeks until Samsung told us we were not covered under warranty because the damage had been caused by a “foreign object”. We asked if we could pay for a repair. However, another 10 days passed before
  
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• I'm leaving our two-man consultancy firm – how can I tell my boss?

  06-01-2017 08:00
  
  He seems to have lost all interest in work, pays me below market rate and has essentially cut me adrift on my final projectTwice 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 work for a two-man consulting company – my boss is a friend from university and owns all of the business. Over t
  
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• Declutter your cupboard if you want, but it won't save the planet | Frank Trentmann

  06-01-2017 08:00
  
  Claims that we are tiring of selfish consumption aren’t supported by the evidence. Without a fundamental rethink, nothing will changeIs this the year we finally get to grips with all our stuff? If so, it has been a long time coming. Forecasters and commentators say we have entered a new era where people prefer to share rather than own, and prize experiences over possessions. Retailers worry about the implications for them of a public sated on “peak stuff”. Official figures sugg
  
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• A deluxe former chapel seen in Call the Midwife – in pictures

  06-01-2017 08:00
  
  St Joseph’s College doubled as an East End convent on screen, and now its altered chapel can be yours for an unholy £6m Continue reading...
  
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• Diesel cars are 10 times more toxic than trucks and buses, data shows

  06-01-2017 07:01
  
  Stricter EU emissions testing for large vehicles means modern diesel cars produce 10 times more NOx per litre of fuelModern diesel cars produce 10 times more toxic air pollution than heavy trucks and buses, new European data has revealed.The stark difference in emissions of nitrogen oxides (NOx) is due to the much stricter testing applied to large vehicles in the EU, according to the researchers behind a new report. They say the same strict measures must be applied to cars. Continue reading...
  
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• Bank chief admits: We were WRONG as Brexit doom forecasters had 'Michael Fish moment'

  06-01-2017 06:22 via feedproxy.google.com
  
  THE financial industry is in crisis, according to the Bank of England's top economist who admitted doom-mongering Brexit forecasters had a "Michael Fish moment" after being proved monumentally wrong.
  
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• Government must share its data to give Australia a competitive advantage

  06-01-2017 04:07
  
  State and federal governments hold, create and collect vast amounts of data with huge potential to drive growth and innovation – if they open it up This century is already witnessing extraordinary transformation fuelled by rapid technological change and the availability of massive data and information. It’s only going to change faster.This period of disruption and innovation – also known as the fourth industrial revolution – brings challenges and opportunities in which da
  
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• CHUMPS! Two out of three economic forecasters admit they got everything wrong

  06-01-2017 01:45 via feedproxy.google.com
  
  BRITAIN'S booming economy has humbled top economists, as it is revealed how epically wrong so-called experts were about the impact of the vote to leave the European Union .
  
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• Christmas cheer fades for high street as buyers shop online from home

  06-01-2017 01:01
  
  Slump for clothes shops while internet purchases rise 51% on last year, due to convenience and effect of weak poundBritish high streets endured a fourth Christmas of falling sales as shoppers switched to buying gifts online from the comfort of their sofa. Underlying sales dipped 0.1% in December, after a 5.3% fall in the same month in 2015, as clothing retailers had a particularly tough year, said the consultancy firm BDO.Sophie Michael, head of retail at BDO, which surveyed more than 70 retaile
  
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