Financial news

• Toy prices could rise by up to 15% after pound's Brexit plunge

  24-01-2017 19:52 via theguardian.com
  
  Lego and Peppa Pig makers among those saying cost of products could increase as economic uncertainty weighs on sterling The price of some toys could rise by up to 15% as a result of the plunging pound, manufacturers have warned.Lego and the producer of Peppa Pig merchandise are among the companies to have announced price rises recently.Continue reading...
  
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• Highly paid bosses should not get knighthoods, City veteran tells MPs

  24-01-2017 19:22 via theguardian.com
  
  Rewards for being in business should be primarily financial, says GlaxoSmithKline chair Sir Philip HamptonKnighthoods and other public honours should not be handed to highly paid businesspeople, one of the UK’s most respected company chairmen has told MPs.Sir Philip Hampton, who is chairman of pharmaceuticals group GlaxoSmithKline and was awarded his knighthood for public service, said businesspeople were rewarded with money, and that the honours system should be directed at those who do n
  
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• Beer prices rise amid sobering threat of Brexit-related inflation

  24-01-2017 19:22 via theguardian.com
  
  Heineken and Carlsberg follow makers of Carling and Budweiser in hiking cost of their beers in face of weak poundThe spectre of inflation is looming over the British pint, as two major brewers raised the price of beer and the brewing business warned of far larger Brexit-related rises to come.Heineken and Carlsberg have become the latest beer makers to raise prices, following MolsonCoors – maker of the UK’s most popular beer, Carling – and ABInBev, whose stable of brands include
  
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• G4S to limit filming asylum seekers in their homes without consent

  24-01-2017 19:13 via theguardian.com
  
  Security firm to scrap contentious use of constant recording by instructing staff to use cameras only when felt threatenedG4S has partially backed down in a row about filming asylum seekers in their own homes without their consent after campaigners threatened to sue the security firm for alleged privacy breaches.Last month, more than 60 G4S housing and welfare officers working on a government contract to house 30,000 asylum seekers were issued with body-worn cameras in a measure designed to tack
  
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• Highly paid bosses should not get honours, City veteran tells MPs

  24-01-2017 18:50 via theguardian.com
  
  Rewards for being in business should be primarily financial, says GlaxoSmithKline chair Sir Philip HamptonKnighthoods and other public honours should not be handed to highly paid businesspeople, one of the UK’s most respected company chairmen has told MPs.Sir Philip Hampton, who is chairman of pharmaceuticals group GlaxoSmithKline and was awarded his own knighthood for public service, said businesspeople were rewarded with money, and that the honours system should be directed at those who
  
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• BT shareholders will remember profit warning for years | Nils Pratley

  24-01-2017 18:47 via theguardian.com
  
  The global telecoms giant’s Italian unit has blown a hole in this year’s numbers and shredded BT’s reputation for solidityNot every BT shareholder, one suspects, will have been aware the company has a meaningful presence in Italy. But they all know now. A unit that last year contributed only 1% of group profits has blown a hole in this year’s numbers and shredded BT’s reputation for solidity. The BT chief executive, Gavin Patterson, may see bonuses clawed back from
  
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• BT shares plunge 20% as Italian accounting scandal deepens – business live

  24-01-2017 18:39 via theguardian.com
  
  BBC reports that BT Europe chief will resign today, over ‘extremely serious’ improper behaviour at its Italian armBT Europe chief expected to quitDETAILS: BT Italian accounting scandal much worse than thought.
  Bad news for BT shareholders£7bn wiped off BT’s value... Instant reaction Executives suspended over “improper accounting practices”
  UK public finances released 5.39pm GMTIt’s been a day to forget for BT, its executives and of course its army of sma
  
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• BT shares plunge 20% as Italian accounting scandal deepens – as it happened

  24-01-2017 18:39 via theguardian.com
  
  BBC reports that BT Europe chief will resign today, over ‘extremely serious’ improper behaviour at its Italian armBT Europe chief expected to quitDETAILS: BT Italian accounting scandal much worse than thought.
  Bad news for BT shareholders£7bn wiped off BT’s value... Instant reaction Executives suspended over “improper accounting practices”
  UK public finances released 5.39pm GMTIt’s been a day to forget for BT, its executives and of course its army of sma
  
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• Toy prices expected to rise after pound's Brexit plunge

  24-01-2017 18:11 via theguardian.com
  
  Lego and Peppa Pig makers among those saying cost of products could increase as economic uncertainty weighs on sterling The price of some toys could rise by up to 15% as a result of the plunging pound, manufacturers have warned.Lego and the producer of Peppa Pig merchandise are among the companies to have announced price rises recently.Continue reading...
  
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• Link ATMs: last-ditch bid to keep cash machines free

  24-01-2017 18:06 via theguardian.com
  
  Crunch meeting of on Thursday could decide future of network, through which 97% of withdrawals are freeLast-ditch proposals to overhaul the way the Link cash machine network operates have been tabled in a bid to avert charges for bank customers withdrawing money at thousands of ATMs.
  A number of ideas have been put forward in an effort to head off a breakup of the 70,000-strong network amid fears that if banks and building societies drop Link, thousands more machines could be forced to charge fo
  
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• Brexit and Trump mean 'dangerous new phase' for Airbus, says boss

  24-01-2017 17:37 via theguardian.com
  
  Aircraft maker says it is ‘pretty scary’ if it cannot move products freely, adding that US rivals will take advantage Airbus has warned of a “dangerous new phase” as it faces the twin threat of Brexit and the policies of the Trump administration.Tom Williams, chief operating officer and president of commercial aircraft at the European company, told MPs on the Treasury select committee that it would be “pretty scary” if Airbus were no longer able to operate a s
  
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• G4S filmed asylum seekers in their own homes without consent

  24-01-2017 16:24 via theguardian.com
  
  Information commissioner raises concern and campaigners threaten legal action over security firm’s use of body-worn camerasCampaigners are threatening to sue the private security giant G4S over alleged privacy and data protection breaches after it began filming asylum seekers in their own homes without their consent.
  Last month, more than 60 G4S housing and welfare officers working on a government contract to house 30,000 asylum seekers were issued with body-worn cameras in a measure desig
  
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• British Gas told to pay £9.5m in compensation for late and incorrect bills

  24-01-2017 16:17 via theguardian.com
  
  Watchdog orders supplier to repay customers and donate to charity after IT relaunch hit tens of thousands of usersBritish Gas has been ordered to pay £9.5m for IT failures that landed business customers with incorrect and late bills, leaving some paying over the odds with other suppliers because of delays registering new accounts.Some customers did not receive a bill for up to 18 months and were then hit with large catch-up statements after the launch of a new IT billing system in 2014 to
  
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• HSBC to close 62 more branches this year, blaming online banking

  24-01-2017 16:14 via theguardian.com
  
  Branches in London, Bristol and Keswick among planned closures, with 180 jobs to go and more than 200 at risk in ITHSBC is to shut another 62 branches this year – on top of 55 already earmarked for closure – in a move it blames on customers increasingly conducting their banking through the internet and mobile phones.Unions said it was a “dark day” for HSBC’s workforce, with 180 roles being lost in branches alongside 204 IT positions being put at risk. Continue readi
  
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• Ohpen sesame says UK's Financial Conduct Authority - Banking Technology

  24-01-2017 14:49
  Banking Technology
  Ohpen sesame says UK's Financial Conduct Authority
  Banking Technology
  Amsterdam-based banking software vendor Ohpen has gained approval from the UK's Financial Conduct Authority (FCA) to carry out its regulated activities under its new British company, Ohpen Operations UK. Angelique Schouten, Ohpen UK's CEO, says ...en meer »
  
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• Poll confirms Southern’s status as UK's worst-performing rail firm

  24-01-2017 13:58 via theguardian.com
  
  Only 30% of passengers said last journey had been punctual, while one in eight said train operator had dealt well with delaysSouthern’s status as Britain’s worst-performing train operator has been confirmed by the national rail passenger survey, which shows growing dissatisfaction across the country. Related: Seaford: the town cut off by the Southern rail disputeContinue reading...
  
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• UK postcodes with highest burglary rates revealed

  24-01-2017 13:26 via theguardian.com
  
  Ilford in east London has highest burglary rate in UK, says Moneysupermarket, after analysing insurance quotes. Where’s lowest? Northern IrelandHouseholds in parts of Ilford, east London, suffer the worst rates of burglary in the UK, according to insurance forms, although the number of break-ins continues to fall nationally.Analysis of 1.8m home insurance quotes by Moneysupermarket.com over the past five years names the IG4 postcode, covering an area between Redbridge and Gants Hill in eas
  
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• What's your experience of discriminatory dress codes at work?

  24-01-2017 13:08
  
  A petition to make it illegal for women to be forced to wear heels at work has received thousands of signatures. Share your stories of discriminatory dress codes with us A petition to make it illegal for employers to force women to wear high heels has received over 150,000 signatures, highlighting a lack of legal protection to guard workers from discriminatory dress codes. If you’ve experienced discrimination at work because of your appearance, we’d like you to share your story with
  
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• UK's Theresa May must get parliament's approval before triggering Brexit - Financial Express

  24-01-2017 13:05
  Financial Express
  UK's Theresa May must get parliament's approval before triggering Brexit
  Financial Express
  British Prime Minister Theresa May must give parliament a vote before she can formally start Britain's exit from the European Union, the UK Supreme Court ruled on Tuesday, giving lawmakers who oppose her Brexit plans a chance to amend or hinder them.en meer »
  
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• Poll: Is the Brexit vote forcing you to raise prices?

  24-01-2017 12:59 via theguardian.com
  
  Following the EU referendum, costs have risen due to the weak pound. If you run a small business, take part in our poll and let us know how you’re affectedSince the vote to leave the EU in June, a raft of major companies including Apple, Unilever and Cath Kidston have revealed plans to increase prices in the wake of the pound losing its value. Following the referendum, the value of the pound has dropped by 18.5% against the US dollar, leaving companies to hike up prices to counteract cost
  
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• Secret aid worker: does your employer have the right to know you're dating a colleague?

  24-01-2017 12:43 via theguardian.com
  
  Office dating is murky territory for any workplace – but the risk of potential conflicts of interest is greater in the humanitarian sector, says one aid workerRelationships happen in every workplace, and aid work is no different. In fact check out any aid worker’s Facebook page and you’re guaranteed to find evidence of lots of socialising in the field. And by socialising, I mean parties, sex and lots of drunken adventures. No matter how remote a field location might be, someone
  
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• BT loses almost £8bn in value as Italy accounting scandal deepens

  24-01-2017 12:20 via theguardian.com
  
  Shares plunge nearly 20% after bill for mismanagement at Italian division almost quadruples to £530m Almost £8bn or more than a fifth was wiped off the stock market value of BT after the telecoms group revealed that an accounting scandal at its Italian business was much worse than originally thought.The company also warned of a slowdown in some of its other operations, with international corporate clients cutting back after the Brexit vote and UK government departments reducing their
  
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• BT loses £7bn in value as Italian accounting scandal deepens

  24-01-2017 12:20 via theguardian.com
  
  Shares plunge nearly 20% after bill for mismanagement at Italian division almost quadruples to £530mMore than £7bn or nearly a fifth was wiped off the value of BT after the telecoms group revealed that an accounting scandal at its Italian business was much worse than originally thought.The company also warned of a slowdown in its other operations, with international corporate clients cutting back after the Brexit vote and UK government departments reducing their spending.Continue rea
  
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• Supreme court rules parliament must have vote to trigger article 50

  24-01-2017 11:45 via theguardian.com
  
  Justices rule by eight to three against government over EU exit, but ministers do not need devolved assemblies’ consentFollow all the reaction to the judges’ ruling on our live blogThe government has lost its fast-tracked appeal to the supreme court, forcing ministers to introduce emergency legislation into parliament to authorise the UK’s departure from the EU.In a judgment that sets a far-reaching constitutional precedent and upholds parliamentary sovereignty, the court ruled
  
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• Trump didn’t kill TPP, the people did | Owen Jones

  24-01-2017 10:39 via theguardian.com
  
  Don’t let him take the credit for the Trans-Pacific Partnership’s demise, it was already dead – and no thanks to Hillary ClintonCan everyone stop saying Donald Trump killed off the Trans-Pacific Partnership? He didn’t. It was already dead. Thanks to pressure from ordinary Americans – yes, it really does work – TPP already lay without a pulse on the floor of Congress. There is no need to congratulate Trump’s bigoted regime or pretend he has assembled a ca
  
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• BT shares plunge 19% as Italian accounting scandal deepens – business live

  24-01-2017 10:34 via theguardian.com
  
  Telecoms firm suspends staff over ‘extremely serious’ improper behaviour at its Italian arm, and admits UK business is also slowingBT: Italian accounting scandal much worse than thought.
  £7bn wiped off BT’s valueInstant reaction Executives suspended after “improper accounting practices” uncovered
  Scandal now costs £530m, up from £145m
  Coming up: UK public finances 9.33am GMTHere’s Mike van Dulken of Accendo Markets on BT shock warning:This mo
  
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• Theresa May's industrial strategy: what took them so long?

  24-01-2017 10:23 via theguardian.com
  
  Ignoring the need for a strategic economic policy has left many communities outside of London in decline – the government’s plan is long overdueFor just twenty years, from the early 1960s until the early 80s, the politicians and officials responsible for economic policy in the UK thought it was important to have an institution embodying long term thinking and strategic aims. There was nothing unusual in this. Almost all developed economies and many emerging markets had and still have
  
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• UK fraud hits record £1.1bn as cybercrime soars

  24-01-2017 08:01 via theguardian.com
  
  Law enforcement agencies will come under increasing strain as they investigate complex ‘super cases’, warns KPMGThe value of fraud committed in the UK last year topped £1bn for the first time since 2011, prompting a warning about increasing cyber crime and the risk of more large-scale scams as the economy comes under pressure.The 55% year-on-year rise in the value of fraud to £1.1bn reported in the court system was recorded by accountants KPMG, which found that while the
  
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• Ilford has highest burglary rate in UK, says Moneysupermarket

  24-01-2017 08:01 via theguardian.com
  
  Analysis of insurance quotes reveals parts of Cambridge and Manchester also have high rates, while Northern Ireland is lowestHouseholds in parts of Ilford, east London, suffer the worst rates of burglary in the UK, according to insurance forms, although the number of break-ins continues to fall nationally.Analysis of 1.8m home insurance quotes by Moneysupermarket.com over the past five years names the IG4 postcode, covering an area between Redbridge and Gants Hill in east London, as worst for bu
  
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• Nothing is what we got for helping out easyJet

  24-01-2017 08:00 via theguardian.com
  
  We were promised hotel expenses and £300 for disembarking, but there’s no sign of the moneyMy wife and I are regular and satisfied users of easyJet. Last September, we were due to fly back from Brindisi in Italy when, after a delay that required a change of plane, the company asked for four volunteers to get off to allow it to take off. We agreed, having been promised hotel expenses plus a further €300. We disembarked, with two others, to a round of applause from the remaining p
  
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• Financial crises are a 'filtering mechanism' for startups

  24-01-2017 08:00 via theguardian.com
  
  In the teeth of recession, a spirit of entrepreneurialism can take hold. Firms explain how they found opportunities in tough times“The financial crisis was a great time for startups,” says Vikas Shah, a professor of entrepreneurship at the Massachusetts Institute of Technology Sloan School of Management, and adviser to the UK government.
  The crash of 2007-08 created economic upheaval and political ramifications, but it also necessitated innovation. Shah adds: “Many of our brigh
  
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• Tourist boom for ayahuasca a mixed blessing for Amazon

  24-01-2017 06:00 via theguardian.com
  
  Short supply of plant has led to uptake in commercial planting, use of dangerous alternatives and fears of deforestationSeated beneath the domed ceiling of a ceremony hall in Peru’s Sacred Valley, Martin (not his real name) picks some fruit out of the communal bowl.“Basically, I confirmed what I’ve always known anyway – plants are sentient and self-aware, far more than we realise,” he says, before biting down into an apple. Continue reading...
  
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• UK minister defends 'failed' Trident missile test - Financial Express

  24-01-2017 00:50
  
  Financial Express
  UK minister defends 'failed' Trident missile test
  Financial Express
  Britain hit back today against reports of a failed test of its nuclear weapons deterrent last year when an unarmed missile reportedly misfired, possibly in the direction of the United States. (Reuters). Britain hit back today against reports of a ...
  UK Opposition Seeks Explanation Over Missile Test FailureFinancial Tribunealle 379 nieuwsartikelen »
  
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