Financial news

• Lonmin: we can't afford to house Marikana massacre families

  26-01-2017 20:14
  
  Amid protests on 5th anniversary of deaths platinum mine owner tells AGM rockbottom metal prices means housebuilding has been slowPlatinum miner Lonmin has come under attack over its record on conditions for its workers, nearly five years after dozens of people were killed in violence at its Marikana mine in South Africa.Speaking as protesters displayed placards bearing the names of the dead, the chief executive, Ben Magara, told shareholders at the group’s annual meeting that progress on
  
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• Hard times for luxury Swiss watches as sales drop 10%

  26-01-2017 19:48
  
  Swiss watch federation reports huge drop in exports to China as official crackdown on bribery makes it worst year for industry since 2009Sales of luxury Swiss watches dropped by 10% last year following a crackdown on corruption in China.The Federation of the Swiss Watch Industry said 2016 watch exports fell by more than 2bn Swiss francs (£1.6bn) to SFr19.4bn as the Chinese bought far fewer luxury watches, which have been used to grease the wheels of politics and commerce in the world&rsquo
  
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• Brexit's mixed bag: good for scotch, bad for washing machines

  26-01-2017 19:31
  
  Unilever, Diageo and Whirlpool results show how vote raised prices for some, cut demand for others and hiked overseas profits for oneContinue reading...
  
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• UK financial regulator calls for new global market access regime - Reuters UK

  26-01-2017 19:12
  
  Mortgage Introducer
  UK financial regulator calls for new global market access regime
  Reuters UK
  LONDON Banks, insurers and traders that comply with reinforced global financial sector rules should be allowed to operate unhindered across the world to spur economic growth and trade, a top British regulator said on Thursday. Andrew Bailey, chief ...
  UK Financial Regulatory Chief Calls For Global Market AccessLondon South East (registration) (blog)alle 10 nieuwsartikelen »
  
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• Hermes courier: 'I felt pressured to work while caring for my dying son'

  26-01-2017 19:02
  
  Worker claims lack of support made her fear losing job with firm, which faces legal challenge from self-employed couriersAmandeep Kaur, 29, a Hermes courier from Leicester, was in the back of an ambulance rushing her seriously ill son to hospital when she first felt the pressure to get back to work. It was two weeks before Christmas, one of the busiest periods for Britain’s booming parcel delivery industry, but Kaur’s six-year-old, Sukhmanjeet, had collapsed at home and she could not
  
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• Britain's economy beats forecasts with 0.6% growth in the last quarter - as it happened

  26-01-2017 18:48
  
  UK defies downturn fears thanks to another strong performance by service sector firms, but economists fear a slowdown in 2017
  Summary: UK GDP better than expectedService sector grows 0.8%, construction and production lagEconomists predict slowdown this yearHammond: UK economy remains resilientListen: Robert Kennedy on GDP’s shortcomings 5.48pm GMTIn the US the Dow Jones Industrial Average may have continued to head higher in early trading following Wednesday’s long-awaited breach of
  
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• UK financial regulator calls for new global market access regime - Yahoo Finance

  26-01-2017 18:42
  Mortgage Introducer
  UK financial regulator calls for new global market access regime
  Yahoo Finance
  LONDON, Jan 26 (Reuters) - Banks, insurers and traders that comply with reinforced global financial sector rules should be allowed to operate unhindered across the world to spur economic growth and trade, a top British regulator said on Thursday ...
  UK Financial Regulatory Chief Calls For Global Market AccessLondon South East (registration) (blog)alle 10 nieuwsartikelen »
  
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• Is YOUR local cashpoint going to be boarded up? Row means HALF are set to be axed

  26-01-2017 18:30 via feedproxy.google.com
  
  TENS of thousands of free-to-use cash machines could be axed across Britain amid an ongoing row between banks and providers.
  
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• Endemic Elitism: Financial discrimination against the working classes in the UK - NOTTINGHAM CITY COUNCIL LOLS (blog)

  26-01-2017 18:01
  
  NOTTINGHAM CITY COUNCIL LOLS (blog)
  Endemic Elitism: Financial discrimination against the working classes in the UK
  NOTTINGHAM CITY COUNCIL LOLS (blog)
  As an educated guy from a working class background the sight of right-wing politicians from privileged backgrounds pretending to be the friends of the working classes always makes me sick to the stomach. Right-wing politics has always been about ...
  
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• Star Wars and Trainspotting sequels help UK film production break records

  26-01-2017 17:43
  
  Some 200 movie shoots spent £1.6bn in Britain in 2016, a rise of 13% on the previous year, reveal new BFI statistics The Brits may not be coming at this year’s Oscars, as Tuesday’s nominations saw the country score its lowest number in a decade, but the film industry is increasingly coming to Britain. New statistics released by the British Film Institute on 26 January show that 200 feature films started shooting in the UK last year, contributing to a total spend of £1.6 b
  
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• UK financial compensation scheme issues phishing email alert - International Adviser

  26-01-2017 17:20
  
  International Adviser
  UK financial compensation scheme issues phishing email alert
  International Adviser
  The Financial Services Compensation Scheme (FSCS) has warned consumers to be on their guard against an email scam promising a $5.7m (£4.5m, €5.3m) payment to encourage people to provide personal information. Print · UK financial compensation ...en meer »
  
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• UK economy defies expectations in Q4 - Financial Reporter

  26-01-2017 17:02
  
  Financial Reporter
  UK economy defies expectations in Q4
  Financial Reporter
  The UK economy grew more than expected in Q4 2016 despite the Brexit uncertainty, according to estimatges from the Office for National Statistics. The UK economy grew more than expected in Q4 2016 despite the Brexit uncertainty, according to estimates ...en meer »
  
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• UK chancellor rules out cutting stake in RBS after £3.1bn US hit

  26-01-2017 16:59
  
  Justice department charge for mis-selling scandal in US puts bailed-out bank on course for ninth consecutive annual lossThe chancellor has ruled out reducing the government’s stake in Royal Bank of Scotland after it took a £3.1bn hit towards the cost of a bond mis-selling scandal in the US.The charge for the latest regulatory failure will push RBS to its ninth consecutive annual loss and was blamed by Ross McEwan, the bank’s chief executive, on the bank having “lost its w
  
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• UK GDP figures show solid end to 2016 despite Brexit vote

  26-01-2017 16:13
  
  TUC chief warns against government complacency as economy expands by 0.6% in the final three months of yearBuoyant consumer spending kept the UK economy growing at the brisk pace of 0.6% in the final quarter of 2016, marking a strong finish to the year despite the Brexit vote.The initial estimate for fourth-quarter GDP from the Office for National Statistics matched the 0.6% growth recorded in the third and second quarters. It was a touch better than the 0.5% rise expected by City economists. Th
  
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• Jobcentre staff at risk amid plans to close one in 10 offices

  26-01-2017 16:10 via theguardian.com
  
  Employment minister says buildings are underused as people increasingly claim benefits onlineThe government is planning to close more than one in 10 jobcentres around the UK, with the loss of up to 750 jobs.The Department for Work and Pensions would not say how many of the 714 offices would close, but unions said it was more than one in 10 locations in England, Wales and Scotland. Continue reading...
  
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• George Soros bets against ING bank accidentally leaked by bungling Dutch regulator

  26-01-2017 15:56 via feedproxy.google.com
  
  BILLIONAIRE investor George Soros has had details of his bets against banks mistakenly revealed by the Dutch regulator.
  
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• Whistleblower wins out over HSBC charges; plus, Sky ditches the dishes

  26-01-2017 15:25 via theguardian.com
  
  Also, customers caught up as banks de-risk due to money-laundering laws, and the Yorkshire to close 48 branchesHello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
  
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• Marmite maker: it was right to increase prices after Brexit vote

  26-01-2017 15:20
  
  Unilever reports drop in global revenues but says 10% price rise has been exonerated after rivals followed suitThe Unilever boss has defended the multinational’s decision to raise the price of Marmite, saying many other suppliers have followed suit with price rises or by reducing the size of products in response to the weakening pound.Tesco, Britain’s biggest retailer, removed Marmite and other household brands made by Unilever from its website last October, after the manufacturer tr
  
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• Nigerian oil pollution claims against Shell cannot be heard in UK, court rules

  26-01-2017 14:32
  
  Campaigners hoped case would pave way for lawsuits to be brought against corporations for actions abroadThe high court has ruled that tens of thousands of Nigerians affected by oil pollution cannot proceed with a legal challenge in the UK against Shell and its Nigerian subsidiary.The ruling is a blow for campaigners who called the ruling an “outrage”. They had hoped the case would set an important precedent on jurisdiction, paving the way for other cases to be brought against UK-base
  
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• Does the Imperial revolt herald a new health warning for executive greed?

  26-01-2017 14:29
  
  Shareholders were right to rebel against tobacco firm’s boardroom plan – but few pay rises will be as shameless as that planned for CEO Alison CooperAlison Cooper, chief executive of Imperial Brands, will presumably now quit her employer of 17 years, to be followed out of the fags factory by an unhappy crew of fellow executives who have lost the chance to earn (even) bigger pay packages.That, or something like that, was the prospect raised by Imperial’s chairman, Mark Williamso
  
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• Hermes facing legal challenge from its self-employed workers

  26-01-2017 14:26 via theguardian.com
  
  Move is being led by GMB union on behalf of couriers who believe delivery company wrongly classes them as self-employed
  Hermes, the courier company that delivers parcels for John Lewis and Next, is facing a legal claim from workers who believe they are wrongly classed as self-employed, according to the Labour MP Frank Field. Speaking on Thursday, he said the move is being orchestrated by the GMB union. It follows a Guardian investigation that found Hermes was paying some of its couriers at level
  
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• Wheelsure Holdings (WHLP) UK Regulatory Announcement: Annual Financial ... - Business Wire (press release)

  26-01-2017 14:06
  
  Wheelsure Holdings (WHLP) UK Regulatory Announcement: Annual Financial ...
  Business Wire (press release)
  Sales of £290,330 an increase of 21% compared with 2015 (£239,525);; In addition to the sales above, royalty income was received of £18,328 (2015: £22,168);; During the year further sales and orders were received in all our main strategic territories.
  
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• Tobacco giant Imperial Brands rethinks CEO's pay rise after revolt

  26-01-2017 13:36
  
  Move by tobacco firm behind Gauloises and John Player cigarettes may affect other FTSE 100 firms increasing bosses’ bonuses Shareholders appear to have blocked a pay rise for Alison Cooper, chief executive of Imperial Brands, in a move that may affect other FTSE 100 companies aiming to hike the bonuses of their bosses.The maker of Gauloises and John Player cigarettes issued an unexpected announcement to the stock exchange on Thursday to say it would not put its new pay policy to a vote as
  
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• UK GDP growth shows consumers spending despite Brexit worries | Larry Elliott

  26-01-2017 12:27 via theguardian.com
  
  George Osborne has been proved wrong in his forecasts of doom – the economy has stayed afloat thanks to the service sectorIt was supposed to be the moment of truth. Had the economy performed as George Osborne predicted it would in the fevered days before the referendum, late January 2017 would have been the moment when official data showed that output in the UK had contracted in both the third and fourth quarters of 2016 – the technical definition of a recession.Instead, Philip Hammo
  
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• Do we need a deed of trust to reflect our shares in our house purchase?

  26-01-2017 12:12 via theguardian.com
  
  As an unmarried couple we want to protect our monies, but my partner is worried that if I pay for repairs her share will fall Q Two years ago my partner and I bought our first house together. Although the deposit we gathered was more mine than hers, we signed a deed of trust protecting our respective monies. It has since come to light that I am due to inherit some money. As there is still much to be done to the house, I had planned to spend around £20,000 putting in a new bathroom, double
  
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• Want accurate data on people with disabilities? Ask them

  26-01-2017 10:57
  
  The UK’s department of international development and Sightsavers are calling for better data on people with disabilities. Without it they will be left behindGlobally, there is a staggering dearth of accurate and comparable data on disability. Censuses and other surveys have provided some general estimates, but the reality is that many governments and policymakers don’t have an accurate picture of how many people with disabilities live in their countries.They don’t know where th
  
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• Bernie Ecclestone, Sir Martin Sorrell and executives to reap $40m in F1 selloff

  26-01-2017 10:00
  
  Seven of Formula One’s key figures are selling up to $39.9m of shares in Liberty Media, which closed its $8bn takeover of the company on MondayBernie Ecclestone and Sir Martin Sorrell, two of Europe’s most well-known businessmen, are among a handful of executives to have reaped a $40m payoff from the sale of Formula One (F1) auto racing to US media conglomerate Liberty Media.On Monday, Liberty closed its $8bn takeover of F1’s parent company Delta Topco, which was controlled by
  
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• UK's fintech envoy raises Brexit immigration fears - Financial News - Financial News (subscription)

  26-01-2017 09:46
  
  Financial News (subscription)
  UK's fintech envoy raises Brexit immigration fears - Financial News
  Financial News (subscription)
  The UK's Fintech Envoy to the Treasury has said that the lack of clarity around freedom of movement in post-Brexit Britain is not helping the fintech industry.en meer »
  
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• Sky to offer full TV service without a dish for the first time

  26-01-2017 09:31 via theguardian.com
  
  Pay-TV giant announces landmark move as it reports falling profits due to Premier League rights costsSky is to make its full TV service of hundreds of channels available without the need for a satellite dish for the first time, as it looks to stem customer defections to rivals such as BT.The pay-TV giant, which had an 18% plunge in profits at its UK business in the last six months of 2016 thanks to spiralling Premier League rights costs, said it would launch the broadband-delivered TV service ne
  
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• 'The pound is IRRELEVANT' German financial giant Deutsche Bank in shocking Sterling swipe

  26-01-2017 08:56 via feedproxy.google.com
  
  GERMANY'S biggest lender Deutsche Bank has branded the pound "irrelevant" following Britain's vote to leave the European Union .
  
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• Car firms tell May post-Brexit tariffs are 'red line' issue that threatens jobs

  26-01-2017 08:38
  
  Britain must keep some benefits of single market and customs union after Brexit, says chief executive of trade body SMMTThe car industry has told Theresa May that the introduction of tariffs after Britain leaves the EU is a “red line” issue that would lead to a fall in sales and potentially result in job losses.In a severe warning about the consequences of a hard Brexit, Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders, said tariffs would make UK car
  
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• Untidy desk, untidy mind? Time to call in a professional declutterer

  26-01-2017 08:15
  
  The Life-Changing Magic of Tidying Up, by Marie Kondo, has raised awareness of professional organisers. Here’s how they could help your business Receipts hidden in bags, a desk overspilling with stacks of dusty books, boxes full of random paperwork and an inbox with more than 1,000 unread emails. A busy entrepreneur knows better than most that clutter can quickly build up. Ronit Knoble’s home office was all over the place until she hired professional declutterer Juliet Landau-Pope la
  
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• Help solve a 15-month battle with extraenergy following a bereavement

  26-01-2017 08:00 via theguardian.com
  
  They were told of my father-in-law’s death, but sent a £600 bill and threatening letters from debt collectorsWhen my father-in-law died my mother-in-law informed all suppliers and services, including extraenergy. It took them four months to even acknowledge receipt of the information. It took them a further five months to transfer the account into my mother-in-law’s name.Continue reading...
  
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• Can prefab homes solve UK's housing crisis?

  26-01-2017 06:00
  
  Modular developments in Manchester and Liverpool are energy efficient and built in quick time, but can they spark national interest? “I’ve always believed there must be a way to get better quality and build quicker,” says Tom Bloxham, chief executive of Urban Splash, a property development company best known for pioneering trendy loft living in Manchester and Liverpool.With the launch last year of the company’s factory-built homes, shipped to site by lorry, Bloxham thinks
  
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• Government planning possible take-over of Southern rail – report

  26-01-2017 01:31
  
  Rail magazine says transport department considering options such as taking over direct control of Govia Thameslink Ministers are considering taking direct control of the rail franchise that includes Southern rail, it has been claimed. Options ranging from splitting off Southern from Govia Thameslink Railway (GTR), to a complete “managed exit” to take direct control of the entire franchise until a new contract could be let are under consideration by the Department of Transport, accord
  
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• 'Zero tolerance' for pregnancy discrimination in workplace – minister

  26-01-2017 01:01 via theguardian.com
  
  UK business department promises consultation on women’s protection from from redundancy but dismisses call to extend time limit on tribunal casesPregnant women and new mothers may need greater protection from redundancy, the government has said. Margot James, a business minister, promised a consultation on how to protect women from losing their jobs when they become parents, after a call for action from the House of Commons women and equalities committee.The review by the Department for Bu
  
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