Financial news

• Dodd-Frank reform could force UK to loosen financial services regulations - City A.M.

  05-02-2017 20:36
  
  City A.M.
  Dodd-Frank reform could force UK to loosen financial services regulations
  City A.M.
  I write about M&A, deals, IPOs, private equity, asset management, media and a fe [..] Show more. Follow William. Trump signs Executive Orders. Donald Trump last week signed an executive order for Dodd-Frank to be reviewed (Source: Getty). William Turvill.en meer »
  
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• Older people to get help to downsize to free up family homes

  05-02-2017 20:28
  
  Housing white paper to incentivise building of sheltered accommodation to encourage older people to sell large housesTheresa May’s government will use its flagship housing strategy to make it easier for older people to move into smaller homes, in a move that could free up larger properties for families.A policy to incentivise more quality, newly built sheltered accommodation will be included in a white paper, which also aims to break the dominance of a limited number of large housebuilders
  
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• The business sense that made Morrisons | Letters

  05-02-2017 19:01 via theguardian.com
  
  I met Ken Morrison (Report, 2 February) when I was a Saturday worker at Morrisons while still at school in the early 1970s. He then only had two stores, both in Bradford. One day I was throwing rotten cabbages into a skip. With my manager by his side he asked me to stop, pass him a cabbage and pass him a knife. He cut the end off, removed the rotten leaves, held out this white core of a cabbage the size of an orange and said: “We can sell this for three pence.” I’m sure when he
  
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• Hermes driver among 'incredibly brave' workers to appear before MPs

  05-02-2017 18:58 via theguardian.com
  
  Peter Jamieson, who says he lost work after asking to switch delivery days to take his dying wife to hospital, will attend work and pensions committeeA Hermes delivery driver will on Monday tell MPs how the company cut his “gig economy” job after he struggled to hit targets while trying to juggle work with caring for his wife, who was dying of cancer.
  Peter Jamieson, 33, a former lorry driver, is one of seven workers who will give evidence to an inquiry into self-employment and the g
  
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• New homes warranty firm pays millions to leading homebuilders

  05-02-2017 18:26
  
  Construction standards and credibility questioned after it emerges National House Building Council pays developers up to £15m a yearThe organisation that provides warranties for most of the new homes in Britain is paying millions of pounds to the leading housebuilders every year, raising questions about its independence and credibility amid a wave of complaints about the quality of new-build properties.NHBC, the standard-setting body and main home construction warranty provider for new bui
  
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• Rolls-Royce faces civil service inquiry over UK state funding

  05-02-2017 16:29 via theguardian.com
  
  UK Export Finance agency to investigate if company tainted by multimillion-pound bribery scandal used corrupt means to obtain public finance Civil servants are carrying out an internal inquiry to establish whether the engineering giant Rolls-Royce fraudulently obtained financial support worth hundreds of millions of pounds from the government.The inquiry was launched after the multinational manufacturer admitted last month it had used multimillion-pound bribes to secure export orders across the
  
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• RBS boss to unveil more cuts after receiving pay worth £3m in 2016

  05-02-2017 16:06 via theguardian.com
  
  Cost-cutting measures likely to be revealed alongside ninth consecutive annual loss and Ross McEwan’s pay for last yearRoss McEwan, chief executive of Royal Bank of Scotland, is preparing to unveil further cost cutting measures after receiving pay of around £3m in 2016.
  The cost-reduction measures – which will be unveiled alongside the bank’s ninth consecutive annual loss later this month – are expected to coincide with confirmation of his pay deal for the 2016 fina
  
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• Five minute guide to tracing your lost financial assets

  05-02-2017 14:57 via feedproxy.google.com
  
  IF YOU lose track of your old pension schemes or savings accounts, you are literally throwing money away.
  
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• Southern rail deal with union fragile as drivers plan to vote against

  05-02-2017 14:20 via theguardian.com
  
  Aslef member says colleagues are disappointed with deal in which union concedes on driver operation of doorsThe deal reached by Southern and Aslef to bring an end to strikes on the troubled rail service may yet unravel, with a significant number of drivers believed to be planning to vote against the agreement.Details of the agreement between the union and Southern’s operating company, Govia Thameslink Railway, news of which was announced at the TUC on Thursday, were given to drivers this w
  
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• British Airways cabin crew begin six days of strikes

  05-02-2017 13:58 via theguardian.com
  
  Staff set to walk out for most of week over pay but airline believes most will turn up to work amid tougher sanctions on strikersLow-paid cabin crew at British Airways have begun six days of industrial action, as the airline takes an increasingly hard line on strikes by employees.Members of the mixed fleet at Heathrow were set to walk out for most of this week from Sunday in a dispute over what the union, Unite, describes as poverty pay.Continue reading...
  
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• The Crusader: A breakdown in communications with True Telecom

  05-02-2017 13:03 via feedproxy.google.com
  
  TRUE Telecom “truly made life a misery for me,” says a retired homeowner who fought a hard battle with the phone company after trying to escape from a contract that he had not agreed to.
  
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• Should financial advisers put us before them? Debate is back on the table

  05-02-2017 13:00 via theguardian.com
  
  Trump’s pledge to undo reforms that discourage excessive risk-taking has thrown a spotlight on whether regulation helps or hinders growth Shouldn’t our financial advisers be legally required to put our interests before their own? It’s a question raised by two very different people this week: Johnny Depp and Donald Trump. Unsurprisingly they have arrived at very different answers.President Trump’s mission to deregulate the financial services industry got underway Friday wi
  
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• Greek debt crisis: an existentialist drama with no good end in sight | Larry Elliott

  05-02-2017 13:00 via theguardian.com
  
  Sartre’s Huis Clos has three damned souls arguing in a room for eternity. Greece has Tsipras, Schäuble and Lagarde. Now there’s a fourth: enter stage right Donald TrumpPut three people in a room who can’t get on with each other. Condemn them to stay there for all eternity while they torture each other. Sit and watch as the gruesome story plays out. And what do you have?One answer is the 1944 existentialist play by Jean-Paul Sartre, Huis Clos. Another is the story of the ne
  
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• Britain’s rail franchise model unfit for purpose, say MPs

  05-02-2017 11:07 via theguardian.com
  
  Parliamentary committee report claims current model is failing train passengers with high fares and poor performance Britain’s rail franchising model is no longer fit for purpose, not providing competition and letting passengers down, MPs have warned.A report from the House of Commons transport select committee said the government was failing to hold train operators to account, while “serious deficiencies” in the Department for Transport (DfT) meant the government should consid
  
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• Where is the civil society response to the TB crisis? | Sophie Cousins

  05-02-2017 11:00 via theguardian.com
  
  The TB epidemic kills 1.8m people a year – fighting it requires huge social mobilisation on the scale of the battle against HIV/AidsEarlier this year I met Saw Robert, a bus driver from Myanmar undergoing treatment for multiple-drug resistant tuberculosis (MDR-TB), at a Médecins Sans Frontières clinic in Yangon.Not only did the 43-year-old have a resistant form of TB which is difficult to treat, with severe side effects for patients, but he is also HIV-positive. But it wasn&r
  
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• 3 insider tips for achieving financial independence - AOL Money UK

  05-02-2017 10:51
  
  AOL Money UK
  3 insider tips for achieving financial independence
  AOL Money UK
  When the FIRE movement ("Financial Independence, Retire Early") gained critical mass in the US in the Noughties, it was founded on three principles: spend less, save more and invest in low-cost index trackers. These axioms can certainly help you ...en meer »
  
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• 3 insider tips for achieving financial independence - Motley Fool UK

  05-02-2017 10:27
  
  Motley Fool UK
  3 insider tips for achieving financial independence
  Motley Fool UK
  When the FIRE movement (“Financial Independence, Retire Early”) gained critical mass in the US in the Noughties, it was founded on three principles: spend less, save more and invest in low-cost index trackers. These axioms can certainly help you ...en meer »
  
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• Mom, son, racially abused on UK train - Financial Express

  05-02-2017 09:10
  
  Financial Express
  Mom, son, racially abused on UK train
  Financial Express
  A mother along with her four-you-old son was racially abused on a train in the UK by a solicitor who called them "foreigners" and told them you "don't deserve to be in first class". By: PTI | London | Published: February 5, 2017 1:35 PM. None of the ...en meer »
  
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• Shattered when the roof of my Hyundai fell in on me

  05-02-2017 08:01
  
  Glass rained down on me while I was driving but I can’t claim under my warrantyImpressed by the offer of a five-year warranty, we bought, in October 2012, a new Hyundai ix35. For no reason (good weather, no trees above) the sunroof spontaneously shattered. The noise was staggering, and I had glass raining down on me as I was driving at 30mph. Continue reading...
  
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• Sir Andrew Witty nears his last Glaxo goodbye

  05-02-2017 08:00 via theguardian.com
  
  The GlaxoSmithKline boss kept his title and won praise for slashing prices in poor countries – but his executives rather let him down in ChinaSo it’s farewell to Sir Andrew Witty, the boss of pharma group GlaxoSmithKline and one of the few businesses knights who hasn’t disgraced himself enough to have a campaign to strip him of his title.He’s been on one of those long City goodbyes where he announces he’s off but then stays for a lap of honour, and this week is the
  
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• For Carney, wages are the only true window to the future

  05-02-2017 08:00 via theguardian.com
  
  The current economy seems to defy the Bank of England’s predictions. Perhaps that is because pay growth has become so much harder to forecastOn the face of it, the Bank of England’s freshly minted forecast for this year looked rosy. A glance at the headline figure of 2% growth in the quarterly inflation report was much better than the Bank’s gloomy forecast last year of 0.8%.A 2% growth rate will again put the UK in the top rank of developed world nations and have City analysts
  
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• Energy customers locked into a costly scheme who have no right to switch

  05-02-2017 08:00
  
  District Heating is heralded as the way to a greener future. But, Anna Tims reports, it’s beenrolled out withoutany regulationEnergy customers who find themselves paying over the odds for their heating can simply switch to a cheaper deal. But there’s a hidden, but rapidly growing, number who estimate they’re paying up to three times more than the expected price… but don’t have the right to switch. In most cases, they are stuck with the same supplier for 25 years or
  
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• Farewell, American Apparel. Your moment has passed

  05-02-2017 07:00 via theguardian.com
  
  As the high street clothing brand closes its doors, all we are left with are memories of ‘porny’ fashion shoots and outrageous advertsLike flipping through holiday photos from 1989, looking back at American Apparel ads as the company closes is filling me with a kind of jolly disbelief. That was what we wore? That was what people thought was fashionable?Leggings, leggings, leggings as far as the eye could see. Black leggings, denim leggings, leggings that were made from some space fab
  
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• The high street is already under threat and now this... | Lucy Siegle

  05-02-2017 01:05 via theguardian.com
  
  Small shops like my own will die unless Britain’s outrageous business rates are reformedEveryone seems to have a solution for fixing the high street, but nobody’s buying. Fifteen independent shops a day are lost and this genuinely pains me. Ever since I got my first Fisher-Price cash register, I’ve had a thing about bricks-and-mortar shops. The first true pangs of jealousy I ever felt were seeing a photo of my older cousin helping out in my great aunt’s hardware shop in P
  
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• System is ‘close to failure’ as PM’s council raises tax for social care

  05-02-2017 01:05
  
  Prosperous authorities like Theresa May’s constituency in Maidenhead and nearby Surrey look to local taxpayers to fill a gapIn her first speech as prime minister last year, Theresa May pledged to govern for those who found themselves “just about managing” to survive financially. With Britain’s overstretched and underfunded social care system at breaking point, she can add the council in Maidenhead, her Berkshire constituency, to that growing list.The Conservative-run roya
  
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• Rising incomes mean nothing if prices rise even faster | Letters

  05-02-2017 01:05
  
  Good economic news distorts the truth about household wealthAs with so many pieces about levels of inequality (“If all the economic figures are so good, why do we feel so bad?”, Comment), Torsten Bell concentrates too much on income levels.The modern-day measuring of those in work (as opposed to those on the register looking for it) is a recent Tory ploy to distort the historical picture. Before Mrs Thatcher, many middle-class couples existed on one income, the women not working or o
  
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• How high street clothes were made by children in Myanmar for 13p an hour

  05-02-2017 01:04 via theguardian.com
  
  Children of 14 were working a six-day weekChildren as young as 14 have been employed to make clothes for some of the most popular names on the UK high street, according to a new report.New Look, Sports Direct’s Lonsdale brand and H&M have all used factories found to have employed children, after several major brands switched their production to low-cost factories in Myanmar. Workers told investigators that they were paid as little as 13p an hour producing clothes for UK retailers &ndas
  
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• Small businesses see future in UK not Europe after Brexit

  05-02-2017 01:01 via feedproxy.google.com
  
  BULLISH small businesses are banking on the UK for growth rather than Europe, according to lender Hitachi Capital.
  
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• Is it time to grab a bigger share of the stock market?

  05-02-2017 01:01 via feedproxy.google.com
  
  CASH was king once upon a time and in those happy days savers could relax knowing their money would earn a decent risk-free return in the bank.
  
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• Dooming stock markets are a warning sign for those with long memories

  05-02-2017 01:01 via feedproxy.google.com
  
  STOCK markets are trading near record highs and people are bullish, which is why those of us who remember the dotcom crash are getting nervous.
  
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