Financial news

• Cobham shares hit 11-year low as aerospace group fires fifth profit warning in 15 months

  16-02-2017 23:35 via feedproxy.google.com
  
  COBHAM shares plunged to their lowest for more than 11 years yesterday as the aerospace and defence technology group fired off its fifth profit warning in 15 months.
  
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• British jobs at risk as French car giant considers Vauxhall takeover

  16-02-2017 21:08 via feedproxy.google.com
  URGENT talks are under-way to try to secure thousands of jobs at takeover target Vauxhall.
  
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• Better-off pensioners must contribute more | Letters

  16-02-2017 19:22
  
  Your contributors (Letters, 16 February) are mostly in profound disagreement with Phillip Inman’s article (Baby boomers, pay your dues, 14 February). Here is the contrary view of a pre-baby-boomer. Over a long period of time, we better-off pensioners have been gifted three substantial unearned financial windfalls. First, many of us in our 70s and 80s have long exhausted what we paid into the system, so the younger working population pick up the bill for our pension and health costs. Second
  
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• 'We NEED a post-Brexit visa' Unskilled migrants cost UK taxpayers £3,500 each, say experts

  16-02-2017 18:50 via feedproxy.google.com
  
  UNSKILLED migrants to Britain drain thousands of pounds more from the country than they contribute, according to a group of economists backing the end of uncontrolled immigration after Brexit.
  
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• Argos to pay £2.4m to 37,000 workers paid less than minimum wage

  16-02-2017 18:47 via theguardian.com
  
  Retailer has been fined £1.5m by HMRC after asking staff to undergo briefings and security checks outside paid working hoursArgos is being forced to pay £2.4m in wages to more than 37,000 current and former shopworkers, and has been fined nearly £1.5m after a HMRC investigation.The catalogue and online retailer, which was bought by Sainsbury’s last year, wrote to staff on Thursday after it was found to have been paying less than the legal minimum wage to workers, because
  
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• Hammond Brexit trade views are economically ILLITERATE, blasts Thatcher's ex-adviser

  16-02-2017 17:23 via feedproxy.google.com
  
  CHANCELLOR Philip Hammond is "economically illiterate" for not pursuing a post-Brexit trade policy based on World Trade Organization rules, according to a former adviser to former Prime Minister Margaret Thatcher.
  
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• First Major UK LIBOR Rigging Claim Dismissed by Financial List Judge ... - The National Law Review

  16-02-2017 17:04
  
  First Major UK LIBOR Rigging Claim Dismissed by Financial List Judge ...
  The National Law Review
  After a 38 day trial, UK Justice Asplin handed down a 187 page judgment just before Christmas in the long-running Property Alliance Group Ltd v The Royal Bank of Scotland plc case. She rejected claims of mis-selling, breach of good faith obligations ...
  
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• A stock market crash is a way off, but this boom will turn to bust | Larry Elliott

  16-02-2017 16:53 via theguardian.com
  
  Markets are at record highs, but optimism breeds recklessness. The question is how big the bubble will get before it burstsAll three main measures of the health in the stock market are at record levels. Donald Trump is bragging about the boost he has given to share prices. Bourses around the world are taking their lead from Wall Street and heading higher.What does that mean? It means the stock market is going to crash because sooner or later optimism breeds recklessness and boom will turn to bus
  
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• Uber partners Moneyfarm to provide UK drivers with financial advice - Finextra

  16-02-2017 16:24
  
  Uber partners Moneyfarm to provide UK drivers with financial advice
  Finextra
  With the rise of the sharing economy and flexible working, many people do not have access to benefits traditionally provided through employment includin...en meer »
  
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• Untying the (financial) knot - Money - News | moneyfacts.co.uk - moneyfacts.co.uk

  16-02-2017 15:45
  Untying the (financial) knot - Money - News | moneyfacts.co.uk
  moneyfacts.co.uk
  Getting coupled up and combining the finances is something that's given plenty of thought – it's an exciting time, after all – but less thought tends to be given to ...en meer »
  
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• UK Financial Watchdog To Toughen Up Governance Code - Law360 (subscription)

  16-02-2017 15:40
  
  UK Financial Watchdog To Toughen Up Governance Code
  Law360 (subscription)
  Law360, London (February 16, 2017, 2:40 PM GMT) -- The U.K.'s top corporate governance watchdog will fundamentally rethink leadership rules for banks and businesses, and aims to beef up enforcement powers against directors, the regulator announced ...en meer »
  
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• Why 30-somethings are fleeing London, plus the growth of rabbit-hutch Britain

  16-02-2017 15:17
  
  Also, the looming car loans crisis and the fans left hundreds of pounds out of pocket after buying gig tickets through Viagogo
  Hello 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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• Trump trade could end in Dow Jones and FTSE stock market CRASH

  16-02-2017 15:09 via feedproxy.google.com
  
  RECORD high stock markets have raised fears the bubble could BURST with a devastating crash looming on the horizon.
  
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• World stock markets hit record highs – business live

  16-02-2017 14:59 via theguardian.com
  
  All the day’s economic and financial news, as shares continue to hit new peaks Introduction: MSCI World Index hits new highEconomic optimism and rising inflation push shares upAre shares overvalued? Maybe.... 1.58pm GMTThe latest US unemployment data also looks pretty decent.Some 239,000 people filed new ‘initial claims’ to receive jobless benefit last week, up from 234,000, but less than expected.Initial jobless claims have been lower than 240,00 five of the last seven weeks.T
  
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• Microsoft raises prices by up to 15 per cent in wake of Brexit vote

  16-02-2017 14:43 via feedproxy.google.com
  
  MICROSOFT has raised prices on a raft of products including laptops and tablets by as much as 15 per cent in direct response to the collapse in the pound following.
  
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• Southern rail users face more strikes as drivers reject Aslef-backed deal

  16-02-2017 14:31 via theguardian.com
  
  Drivers vote against agreement that would have accepted rail firm’s plans for more driver-only operation of trainsDrivers for Southern have rejected a deal negotiated between the Aslef union and their employer, reigniting a long-running dispute that has frequently stranded hundreds of thousands of commuters.
  The drivers voted by 54%-46% against a deal that offered limited assurances on rostering a second, safety trained crew member in return for accepting Southern’s government-led pl
  
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• Uber launching financial advice sessions and appeals panel for UK workers - Belfast Telegraph

  16-02-2017 14:13
  
  Belfast Telegraph
  Uber launching financial advice sessions and appeals panel for UK workers
  Belfast Telegraph
  Uber is offering English courses, financial advice and introducing an appeals panel for its UK workers after facing criticism over lack of support and rights for its drivers. The ride-hailing app says the changes were sparked after holding feedback ...en meer »
  
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• Uber launching financial advice sessions and appeals panel for UK ... - Belfast Telegraph

  16-02-2017 14:13
  
  Belfast Telegraph
  Uber launching financial advice sessions and appeals panel for UK ...
  Belfast Telegraph
  Uber is offering English courses, financial advice and introducing an appeals panel for its UK workers after facing criticism over lack of support and rights for its ...en meer »
  
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• Heineken may not refresh the pubs other beers could reach, landlords fear

  16-02-2017 13:45 via theguardian.com
  
  Competition watchdog to rule on whether £305m deal for Punch Taverns reduces choice for customers as publicans air concern over the range of beersThe competition watchdog is to scrutinise Heineken’s planned £305m acquisition of 1,900 pubs from Punch Taverns, a deal that will make the Dutch brewer the UK’s third-largest pubs group.The Competition and Markets Authority said it would assess whether the Heineken deal could reduce competition and choice for customers.Continue
  
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• How Donald Trump became Deutsche Bank's biggest headache

  16-02-2017 13:31 via theguardian.com
  
  It’s no surprise the bank that likes to say yes to Trump is reviewing its arrangements with him now he is presidentThe language was scathing, the tone sarcastic. “[Donald] Trump proclaims himself the archetypal businessman, a deal-maker without peer,” the memo said.It mentioned Trump’s boast that he was worth “billions of dollars”. And it listed his interests in “numerous extraordinary properties” across the world, from New York to Panama, not to m
  
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• Deutsche Bank examined Trump's account for Russia links

  16-02-2017 13:31 via theguardian.com
  
  Bank looked for evidence of whether loans to president were underpinned by guarantees from Moscow, Guardian learnsThe scandal-hit bank that loaned hundreds of millions of dollars to Donald Trump has conducted a close internal examination of the US president’s personal account to gauge whether there are any suspicious connections to Russia, the Guardian has learned. Deutsche Bank, which is under investigation by the US Department of Justice and is facing intense regulatory scrutiny, was loo
  
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• Crowdfunding carnage –  Confessions of a Small Business

  16-02-2017 13:18 via theguardian.com
  
  Little Riot founder Joanna Montgomery kicks off our Small Business podcast series by reliving the highs and lows of launching her product Pillow Talk and explaining how caring customers gave her heartSubscribe & Review on iTunes, Soundcloud & Mixcloud and join the discussion on Facebook and Twitter Joanna Montgomery, founder of Little Riot, appeared on the panel at the Guardian Small Business Network’s Confessions of a Small Business event on 6 February. Continue reading...
  
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• Driverless trucks: economic tsunami may swallow one of most common US jobs

  16-02-2017 13:00 via theguardian.com
  
  America is producing more than ever before, but it is doing so with fewer and fewer workers. Once trucks become automated, where will these jobs go?In April 2016, Uber announced the acquisition of Otto, a San Francisco-based startup that has developed a kit that can turn any big rig into a self-driving truck. The Otto technology enables complete autonomy on highways: trucks can navigate, stay in their lane, and slow or stop in response to traffic conditions completely without human intervention.
  
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• Will we pay higher stamp duty on a buy-to-let property?

  16-02-2017 12:10 via theguardian.com
  
  My partner and I already own homes, but want to purchase another to help our children later on
  Q My partner and I – we are not married – live in his house, which he owns outright in his sole name. I also have a house in my name only. There is a mortgage on this property, which will be rented out once it has been renovated. We are thinking about jointly buying another buy-to-let house but won’t need a mortgage to do that. The property we are looking at will cost £220,000.
  
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• Britons spend more on food and leisure, less on booze, smoking and drugs

  16-02-2017 12:03 via theguardian.com
  
  National survey suggests fall in number of smokers and rise in culture of eating out and recreational activitiesBritons are spending less on cigarettes, drugs and alcohol and more on eating out and hotels, according to the latest official snapshot of family spending.Weekly spending on booze, fags and narcotics fell below £12 for the first time since comparable records began in 2001-02, partly reflecting the decline in the number of people who smoke. Continue reading...
  
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• Black bones, gangrene and weeping: the unwelcome return of scurvy

  16-02-2017 11:59 via theguardian.com
  
  With cases of scurvy appearing in Sydney and Zimbabwe, Jonathan Lamb looks at the history of a disease that was once thought to belong to the pastWhen doctors and patients realised that scurvy had reappeared, in separate outbreaks in Zimbabwe and Sydney recently, they were stunned. “I couldn’t believe it,” Penelope Jackson, one of the Sydney victims, recalled, “I thought, ‘Hang on a minute, scurvy hasn’t been around for centuries’.”Shame followed,
  
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• Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen

  16-02-2017 11:07 via theguardian.com
  
  A reality check may force the US president to climb down on his ‘America first’ rhetoric and see the merit of international bodiesDonald Trump did not assume the US presidency as a committed multilateralist. On that, partisans of all political persuasions can agree. Among his most controversial campaign statements were some suggesting that Nato was obsolete, a position that bodes ill for his attitude to other multilateral organisations and alliances.Last week, however, Trump stepped
  
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• Mr Dror Niv – Status Inactive, UK Financial Services Register shows - FinanceFeeds (blog)

  16-02-2017 10:51
  
  FinanceFeeds (blog)
  Mr Dror Niv – Status Inactive, UK Financial Services Register shows
  FinanceFeeds (blog)
  Updated Register shows Drew Niv ceased being a partner at Lucid and a director at FXCM UK on February 15, 2017. While the situation for former US retail FX clients of FXCM Inc (NASDAQ:FXCM) is now clearer thanks to information provided about their ...
  
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• Microsoft raises prices of some PCs by up to £400 due to Brexit

  16-02-2017 10:26 via theguardian.com
  
  Move follows Apple and Sonos rises, with cost of Surface and Surface Book computers increasing by 15%Microsoft has increased the price of its Surface and Surface Book computers in the UK by more than 15%, or £400 for some models, due to sterling’s drop in the value post-EU referendum.The price increase comes in the wake of similar moves by Sonos and twice by Apple, which saw the cost of computers, speakers and apps rise by as much as 25% adjusting for the falling value of sterling ag
  
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• UK bosses face tougher punishments over corporate governance rules

  16-02-2017 10:18 via theguardian.com
  
  Financial Reporting Council to overhaul regulation codes to increase its powers to fine and ban company directorsBoardroom bosses face tougher punishments when they break financial reporting rules under proposals being submitted to the government by the body which polices corporate behaviour.The Financial Reporting Council is currently only able to fine and ban individuals who are members of professional bodies but does not have powers to sanction boardroom directors who are not.Continue reading
  
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• Giggs and Neville skyscrapers 'threaten Manchester's heritage'

  16-02-2017 10:00 via theguardian.com
  
  Government heritage agency says £200m scheme, which includes 153 apartments, would erase city centre’s historyA plan by former footballers Ryan Giggs and Gary Neville to build two skyscrapers in Manchester city centre would “damage the city’s historic core”, a government heritage agency has said.Historic England said the former Manchester United players’ £200m plan would “erase” the area’s history and threaten its “precious herita
  
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• Master the art of presenting: tell a story, keep it brief

  16-02-2017 08:15 via theguardian.com
  
  Don’t assume an audience will listen, convince them that they must – and have the confidence to lead with your strongest pointPoor communication can be disastrous – literally. According to accident investigators it helped lead to the disintegration of the Space Shuttle Colombia as it re-entered the Earth’s atmosphere on 1 February 2003, killing all seven astronauts on board.The Colombia Accident Investigation Board (CAIB) found fault with a PowerPoint slide presented by N
  
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• New home owners gagged over poor build and compensation claims

  16-02-2017 08:00 via theguardian.com
  
  NHBC forcing buyers to sign agreement preventing them from contacting media about problems with their property or discussing with neighboursNew home owners are being forced to sign gagging orders after making successful claims for compensation about the quality of their new homes.The Guardian has been made aware of NHBC, the regulator of new homes, issuing gagging orders or so-called non-disclosure agreement that not only restrict the homeowner from contacting the media about the problems with t
  
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• Victoria to spend $5m in Australia's first social enterprise strategy

  16-02-2017 07:21 via theguardian.com
  
  New social procurement plan will encourage government contracts to support social enterprises, as sector expands to more than 20,000 businessesThe Victorian government is committing $5m to help develop the social enterprise sector – which is made up of businesses that exist to fund social projects.Victoria is a centre of social enterprise, home to a quarter of the country’s 20,000 social enterprises, such as the Thankyou Group (bottled water and other grocery items), STREAT (homeless
  
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• Treasury hits back at 'scaremongering' over business rate changes

  16-02-2017 07:01 via theguardian.com
  
  Chief secretary to the Treasury, David Gauke, says most businesses will see no change to their rates as government comes under pressure to scrap plansThe Treasury has hit back at “scaremongering” about its changes to business rates as the government comes under pressure from companies to scrap its plans at the budget.David Gauke, the chief secretary to the Treasury, insisted that the vast majority of business will see no change or a fall in their rates, while a quarter will see their
  
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• Unemployment falls slightly, but fewer Australians in full-time work

  16-02-2017 04:01 via theguardian.com
  
  National unemployment rate down to 5.7% January, from 5.8% in December, but number of full-time jobs falls by 56,100 amid ‘worrying trend’More Australians have a job, but they’re working fewer hours and wages growth is slowing, an economist warns.The unemployment rate fell to 5.7% January, from 5.8% in December, according to the Australian Bureau of Statistics. Continue reading...
  
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• #RentInOz: Australian renters share their horror stories

  16-02-2017 02:59 via theguardian.com
  
  Do you have a tale of a greedy landlord or a shoddy property? Let us know in the comments below • Australian renters living in ‘entrenched culture of fear’, report findsA new study of Australia’s rental property market has prompted people to share their horror stories.The survey of more than 1,000 renters co-authored by the consumer group Choice concluded there was an “entrenched culture of fear” and a significant power imbalance between landlords and tenants.
  
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• Waitrose voted UK's best supermarket

  16-02-2017 01:01 via theguardian.com
  
  Upmarket grocer tops Which? customer satisfaction survey for third successive year while Asda languishes at bottom of tableWaitrose, Iceland and Marks & Spencer have bagged the top slots in a supermarket survey based on customers’ levels of satisfaction when shopping in store and online.The upmarket grocer topped the “bricks and mortar” table in the annual poll by consumer group Which? for the third year in a row, narrowly beating M&S. Iceland’s home delivery serv
  
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• US and UK share prices hit record highs as weak pound benefits business

  16-02-2017 01:01 via feedproxy.google.com
  
  SHARE prices hit record highs on both sides of the Atlantic yesterday on prospects for robust US economic growth and UK companies continuing to benefit from a weaker pound.
  
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• REVEALED: Best and Worst UK supermarkets

  16-02-2017 01:01 via feedproxy.google.com
  
  WAITROSE and Iceland have topped a Which? supermarket consumer satisfaction survey.
  
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• Laura Ashley reports profits below market expectations

  16-02-2017 01:00 via feedproxy.google.com
  
  FASHION and homeware retailer Laura Ashley Holdings Plc said net pretax profit for the year ending in June 2017 would fall below market expectations, citing a softening market and rising cost pressure.
  
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• Heineken's £403m takeover of Punch Taverns under scrutiny by competition watchdog

  16-02-2017 01:00 via feedproxy.google.com
  
  HEINEKEN'S £403 million takeover of pub chain Punch Taverns is being put under the microscope by Britain's competition watchdog amid concerns over the deal.
  
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