Financial news

• UK Financial Conduct Authority Proposes Changes to Financial ... - JD Supra (press release)

  13-01-2017 21:04
  
  UK Financial Conduct Authority Proposes Changes to Financial ...
  JD Supra (press release)
  The Financial Conduct Authority launched a consultation on the future funding of the Financial Services Compensation Scheme as well as changes to the FSCS ...en meer »
  
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• EU negotiator wants 'special' deal over access to City post-Brexit

  13-01-2017 20:15
  
  Exclusive: minutes of Michel Barnier’s meeting with senior MEPs reveal he wants 27 member states to have easy access to London’s financial institutionsThe EU’s chief negotiator in the Brexit talks has shown the first signs of backing away from his hardline, no-compromise approach after admitting he wants a deal with Britain that will guarantee the other 27 member states continued easy access to the City.Michel Barnier wants a “special” relationship with the City of
  
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• William Hill tells staff to shine torches through rival bookies' windows

  13-01-2017 19:12
  
  Staff encouraged to ‘make sure punters see the light’ in stunt designed to exploit dispute over Racing Partnership feesWilliam Hill has been accused of “appalling” behaviour after encouraging torch-waving staff to visit rival bookmakers and lure gamblers into its own shops with the promise of free bets.The bizarre tactic is part of William Hill’s efforts to exploit a dispute between two of its competitors – Ladbrokes-Coral and Betfred – and horse-racing
  
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• Salmon retail prices set to leap owing to infestations of sea lice

  13-01-2017 19:03
  
  Wholesale cost rose 50% in 2016 as fish farmers from Scotland to Norway and Chile tried to tackle parasite problemYou may never have heard of Lepeophtheirus salmonis, and you’re unlikely to have spotted one, because they are usually less than 1.5cm long, but the humble sea louse is creating waves that are about to wash on to your dinner plate.Balanced on blinis, tucked into bagels or crafted into sushi, salmon has become an everyday luxury in the UK. But fans of seafood may be forced to ta
  
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• Army of staff descends on Davos to serve WEF super-rich

  13-01-2017 17:43
  
  Amid sessions on inequality, hastily bussed-in hotel workers will pack five to a room on bunk beds to serve the super-rich and powerful delegatesHundreds of chambermaids, doormen and cocktail waiters have been flown to Davos to cater to every whim of world leaders, business executives and the super-rich who will descend next week on the Swiss Alps town for the annual World Economic Forum (WEF) celebration of capitalism.While WEF guests, including Theresa May, Chinese leader Xi Jinping and South
  
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• Let’s move to Streatham, south-west London: forget what you know

  13-01-2017 17:30
  
  ‘Huge efforts have been made to reverse the reputation for crime Streatham attracted in the 80s. It’s worked’What’s going for it? Don’t, don’t, don’t believe the hype. Or the opposite of hype, whatever that is. Streatham has a reputation. But so what. The reality is amazing. In the 1930s (geographically challenged) people called it the “West End of south London”. Streatham was glam. The High Road is still lined with art deco mansion blocks, f
  
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• Theatregoers face paying £200 to see Broadway hit Hamilton in London

  13-01-2017 16:30
  
  Cost of premium seats for hip-hop musical reignites debate on West End ticket prices
  Tickets for the best seats at the hotly anticipated US hit musical Hamilton will cost £200 each when it opens in London later this year, reigniting a debate about West End theatre ticket prices.
  The producers of the London staging of the Pulitzer prize-winning show, which will begin previews at the the Victoria Palace Theatre in November, have revealed details of ticket prices. Perhaps inevitably, the eyes
  
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• REVEALED: The savings accounts where rates are RISING as they take on big name banks

  13-01-2017 16:01 via feedproxy.google.com
  
  SAVERS have been offered a New Year boost after a spate of providers hoping to take on the big name banks lifted rates across a range of accounts.
  
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• Blind trusts: what do Theresa May and Donald Trump have in common?

  13-01-2017 14:41
  
  It has emerged that May put her financial affairs into a blind trust on becoming prime minister, and Trump claims he’s done something similar. The idea is to avoid the appearance of any conflict of interest – but it’s never quite that simpleWhat is a blind trust, and why is the prime minister using one?
  Blind trusts are designed to give the public confidence that a minister cannot benefit personally from decisions over which he or she has influence. Some politicians will sell a
  
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• Pound's flash crash 'was amplified by inexperienced traders'

  13-01-2017 14:19
  
  Official report finds sterling’s sudden plunge to a 31-year low against the dollar in October was caused by string of factorsOctober’s flash crash in the pound – when the currency nosedived by 9% against the dollar in Asian trading hours – was caused by a combination of inexperienced traders, algorithmic trading and complex trading positions, according to an official report.No single factor caused the dramatic moves which compounded the weakness of sterling after the Brex
  
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• Brexit: HSBC set to move jobs out of UK, says chairman - Financial Director

  13-01-2017 14:08
  Brexit: HSBC set to move jobs out of UK, says chairman
  Financial Director
  THE UK could see a massive migration of jobs exceeding “more than just a few tens of thousands” because of the economic impact on the financial services sector of the UK leaving the European Union. HSBC chairman Douglas Flint this week said the bank ...
  
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• Tata Steel to pay millions into UK pension fund: Report - Financial Express

  13-01-2017 13:58
  
  Financial Express
  Tata Steel to pay millions into UK pension fund: Report
  Financial Express
  Indian steel giant Tata Steel has offered to pay "hundreds of millions" of pounds to its 130,000 member-strong pension scheme in the UK to facilitate a merger of its European steel business with German steel giant ThyssenKrupp, a media report said today.en meer »
  
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• FTSE 100 extends record winning streak - business live

  13-01-2017 13:42
  
  The FTSE 100 is on course to close at a record high for the 12th successive dayChinese exports slump amid fears of US trade warGermany’s Merkel poised for Brexit negotiationsBank of England’s Saunders: jobless rate could stay below 5% Sterling volatility mounts as May prepares Brexit speechMitchells & Butler and Fortnum & Mason have a merry ChristmasUK Christmas retail: the winners and losers12.42pm GMTOil prices continue to slide and are on course for the first weekly fall s
  
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• Renault to be investigated over diesel emissions 'cheating'

  13-01-2017 13:34
  
  Carmaker’s shares fall as French prosecutors launch inquiry just a day after US authorities charged Fiat ChryslerFrench prosecutors have announced they will investigate Renault over suspected “cheating” in emissions tests of diesel motors, causing shares in the carmaker to fall sharply.Following a massive emissions scandal involving Volkswagen, independent French experts found dangerously high levels of emissions from diesel engines of several carmakers, including Renault, the
  
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• EUROPE ON THE EDGE: Germany's Scháuble LASHES OUT at ECB's controversial euro policies

  13-01-2017 12:53 via feedproxy.google.com
  
  GERMAN finance minister Wolfgang Scháuble has hit out at the European Central Bank , reigniting a long-running squabble over eurozone economic policies.
  
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• 17 global development clichés to avoid in 2017

  13-01-2017 12:05
  
  The development sector is beset with jargon and buzzwords that don’t help our mission. Here are 17 words and phrases I resolve not to use in 2017Someone once told me that this phrase exists to differentiate perspectives from ivory towers. But to me, it feels more commonly used as a lazy, somewhat self-righteous substitute for “parachuting into a developing nation.” I get countless pitches from writers who tell me they’re “on the ground in [insert country in Africa,
  
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• Poorer men are being driven out of full-time work. Here’s why | Simon Jenkins

  13-01-2017 11:50
  
  The south-east booms while other regions stagnate, and low-paid, part-time jobs proliferate – a smarter safety net is needed to remedy growing imbalancesThe latest figures for employment are as good as they are bad – and as intriguing. Unemployment continues to fall, now below 5%, a level not seen since before the 1970s recession. The Office for National Statistics has announced that average pay rose last year by 2.4%. Even the pay gap fell. “Income for the poorest fifth was up
  
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• I work in recruitment, but dread dealing with people

  13-01-2017 10:58
  
  My personality is more suited to data and systems analysis – can you advise me on how to make the shift?
  Twice 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 have a history of poor career decisions, which is why I need your advice. After a few years of various short job experiences, I r
  
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• UK Christmas retail: the winners and losers

  13-01-2017 10:10
  
  The festive season is traditionally a lucrative one for retailers – but which emerged best this year?The weeks leading up to Christmas are traditionally lucrative for high street and online stores but they also reveal which retailers are faring better than others. As firms report their sales figures, the winners and losers are emerging. This year most of them are winners, with the notable exception of Next. Continue reading...
  
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• Lord Marland: ‘People are obsessed with free trade agreements’

  13-01-2017 08:30
  
  The preoccupation with free trade between countries hides the real issue, says the chairman of the Commonwealth Enterprise and Investment Council “[Trading with] the Commonwealth is a no brainer,” says Lord Marland, chairman of the Commonwealth Enterprise and Investment Council (CWEIC). “[But] there’s no doubt the UK has withdrawn from a lot of the Commonwealth countries, because it hasn’t had the support of the government as it used to. We’re going to have to
  
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• Holden announces date for last car to roll out of Adelaide plant

  13-01-2017 08:24
  
  Production to cease on 20 October but some design and marketing functions will stay in Australia as cars are importedHolden will finish manufacturing cars at its Adelaide plant on 20 October.The company, which is owned by US-based General Motors, will then import all its cars from overseas, but some design and marketing functions will remain in Australia. Continue reading...
  
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• Sharp rise in first-time buyers taking mortgages lasting at least 30 years

  13-01-2017 08:00
  
  Halifax figures may herald death of 25-year mortgage, revealing that 28% of first-timers chose 30- or 35-year mortgage terms in 2016, up from 11% in 2006
  The traditional 25-year mortgage could be on the way out, with growing numbers of first-time buyers opting for deals lasting 30 or 35 years – suggesting that many will still be burdened with home loan debt in their 60s and 70s. Continue reading...
  
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• Harron Homes left us hanging for months over our half-built house

  13-01-2017 08:00
  
  It kept promising our property would soon be finished, leaving us powerless to find somewhere to rentWe agreed to purchase a new £240,000 house from Harron Homes in December 2015. We paid a deposit in January 2016 and were told the house would be ready towards the end of May. Unfortunately, May came and went, as did June, July, August, September, October and November. Over that time we were constantly given the impression that we would be moving in soon. What actually happened was the hous
  
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• A stunning villa on the Côte d’Azur – in pictures

  13-01-2017 08:00
  
  Outside, there’s a heated pool, theatre, helipad and football pitch. Inside, you can amuse yourself in the cinema, billiards room, bar or wine cellarContinue reading...
  
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• Bleak trend of low, part-time wages in UK is revealed

  13-01-2017 07:01
  
  Survey shows link between low hours and wages increased sharply in past 20 years, with one in five low-paid men now working part-timeMen on low pay are four times more likely to be working part-time than in the 1990s, according to a survey that illustrates the trend for low hours and wages to go together.The Institute for Fiscal Studies said 20 years ago only one in 20 men aged 25 to 55 worked part-time with low hourly wages. Today one in five of this group works part-time. Continue reading...
  
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• What if Uber kills off public transport rather than cars?

  13-01-2017 06:00
  
  Uber’s privatised transportation system may do more harm than good if cities allow public transport to deteriorateThe perceived wisdom is that Uber has disrupted taxis and that private automobiles are next, but what if we’ve misread what is happening in our cities?Traditional thinking would suggest that UberPool, which allows users to split the cost of trips with other Uber riders heading in the same direction, will always be inferior to public transport. Sitting in the backseat of a
  
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