Financial news

• CPI was never meant to be real measure of inflation | Letters

  23-02-2017 20:07
  
  Your article (Pension changes could cost 11m Britons thousands of pounds, 21 February) says 75% of pension schemes use the retail price index (RPI). But all the public-sector schemes, which must be more than 25%, as well as many in the private sector – eg BT, BA – have used the consumer price index (CPI) for years. The article says RPI is usually greater than CPI; in fact it is virtually always greater because of the different way they are calculated – it’s called the for
  
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• John Lewis expects to cut nearly 800 jobs

  23-02-2017 19:28 via theguardian.com
  
  Biggest ever round of redundancies to fall on curtain and carpet estimating and fitting, and restaurant chefs John Lewis is to axe nearly 800 jobs in its customer restaurants and store administration in its biggest ever round of redundancies.The department store chain said it was consulting 773 people about redundancy as it attempts to cut costs and become more efficient. The cuts are the first sign of change since the department store’s managing director, Paula Nickolds, took the helm in
  
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• Successful business rate appeals falling, new figures show

  23-02-2017 18:50 via theguardian.com
  
  The latest Valuation Office Agency statistics come before changes to the appeal system are implemented
  The percentage of successful appeals made by businesses in England and Wales contesting the rateable values of their premises to the Valuation Office Agency (VOA) has fallen, show figures just released [pdf]. Almost 2 million appeals were made to the Valuation Office Agency (VOA) against the 2005 and 2010 valuations up to 31 December 2016. More than a third (37%) of appeals against 2005 valuati
  
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• Business rates row: pressure grows for total rethink on controversial tax

  23-02-2017 18:43
  
  Trade bodies such as CBI tell MPs tax is outdated and unfair with some brandign it a bigger deterrent to international retailers than the Brexit voteThe government is under growing pressure to overhaul the business rates system rather than just offer help for small firms affected by the revaluation of properties.Theresa May, the prime minister, and Sajid Javid, the communities secretary, told parliament on Wednesday that small businesses facing a sharp increase in their business rates bill from
  
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• Germany overtakes UK to become fastest-growing G7 economy in 2016 - as it happened

  23-02-2017 18:35 via theguardian.com
  
  All the day’s economic and financial news, including new data showing how Germany’s economy is performingUS jobless claims edge higherUS Treasury Secretary: Tax reform by AugustUK retailers worried about the future German GDP rises by 1.9%, overtaking UK
  The agenda: UK retail sales, Barclays, French jitters5.35pm GMTDespite the positive German GDP data and a slight easing of concerns about the French presidential election, investors were in a more cautious mood all round. So most Eur
  
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• Profits will SURGE as Britain ditches the European Union, exporters predict

  23-02-2017 18:15 via feedproxy.google.com
  
  BRITISH exporters are confident of the outlook for their business and expect to see a surge in sales as the country gears up for Brexit, a survey has showed.
  
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• US Fed warning 'Trump trade' could end in market CRASH

  23-02-2017 17:56 via feedproxy.google.com
  
  STOCK markets could be in for a shock amid heightened expectations over Donald Trump's tax and economic policies, the US Federal Reserve has warned.
  
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• Former IMF chief gets four years in jail for embezzlement in Spain

  23-02-2017 17:40 via theguardian.com
  
  Rodrigo Rato found guilty of misuse of corporate credit cards issued by banks whose near collapse sparked EU bailoutThe former International Monetary Fund chief Rodrigo Rato has been sentenced to four-and-a-half years in prison for misusing corporate credit cards while in charge of two leading Spanish banks at the height of the country’s financial crisis.Rato, also a former a Spanish economy minister and deputy prime minister, was found guilty on Thursday of embezzlement, at the end of a f
  
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• What’s the point of building a million new homes if they’re not fit to live in? | John Harris

  23-02-2017 16:58
  
  The dream of a property-owning democracy is ridden with cracks and leaks: ministers say build, build, build – but then fail to ensure proper regulationThey might be the most ubiquitous feature of the modern English landscape, and yet they barely attract any comment: those sprawling newbuild housing developments that seem to surround almost every town and city, offering a promise of comfort and security and a vital foot on the property ladder.More often than not, their avenues and culs-de-s
  
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• Vauxhall job fears rise as Peugeot boss mentions 'speedy' savings

  23-02-2017 16:45 via theguardian.com
  
  Just hours after talking with Theresa May the PSA chief says adding GM’s Opel and Vauxhall brands would create cost savingsThe boss of PSA Group said the French carmaker’s proposed purchase of General Motors’ lossmaking European business could bring “speedy” savings, prompting fresh fears over job cuts at Vauxhall in the UK – just hours after speaking to Theresa May.Carlos Tavares, the chief executive of PSA, which owns Peugeot, Citroën and DS, said on Th
  
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• Germany overtakes UK as fastest-growing G7 economy

  23-02-2017 16:21 via theguardian.com
  
  Britain loses top spot as ONS revises down annual growth to 1.8%, from an initial estimate of 2%Germany overtook the UK as the fastest growing among the G7 states during 2016. Europe’s largest economy expanded at the fastest rate in five years, showing growth of 1.9% last year.The expansion pushed Britain into second place among the G7 industrialised nations, after the Office for National Statistics revised down annual UK growth to 1.8%, from an initial estimate of 2%. Continue reading...
  
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• A London penthouse for £60,000 per week, plus the Isa offering 12% returns

  23-02-2017 16:20
  
  Also, the pension changes that could cost Britons thousands and Whirlpool finally tells customers to unplug dangerous tumble dryers
  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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• UK watchdog fines three former RSA officials for financial misconduct in Ireland - Insurance Business Review

  23-02-2017 12:58
  Insurance Business Review
  UK watchdog fines three former RSA officials for financial misconduct in Ireland
  Insurance Business Review
  The UK Financial Reporting Council (FRC) has imposed fines totaling £182,000 on three ex-RSA Insurance Ireland (RSAII) employees in connection with an accounting scandal in 2012. Along with the fines, the UK accounting watchdog has also put other ...en meer »
  
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• The Bank of England is in denial. Brexit shows people don't act rationally | Robert Skidelsky

  23-02-2017 12:38 via theguardian.com
  
  Economists get it wrong because they don’t understand our reactions to uncertain situations such as our exit from the EUEarly last month, Andy Haldane, chief economist at the Bank of England, blamed“irrational behaviour” for the failure of the BoE’s recent forecasting models. The failure to spot this irrationality had led policymakers to forecast that the British economy would slow after last June’s Brexit referendum. Instead, British consumers have been on a heedle
  
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• UK's Financial Conduct Authority Publishes New Data On Trends In The ... - Exchange News Direct

  23-02-2017 11:33
  Crowdfund Insider
  UK's Financial Conduct Authority Publishes New Data On Trends In The ...
  Exchange News Direct
  The Financial Conduct Authority (FCA) have today published their eighth data bulletin. This edition focuses on insights from the Consumer Contact Centre, as well as the latest trends in the retirement income market. The Consumer Contact Centre is the ...
  Ontario Securities Commission & UK Financial Conduct Authority ...Crowdfund Insideralle 27 nieuwsartikelen »
  
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• Roadshow leaves mums fired up and ready to pursue business dreams

  23-02-2017 08:00 via theguardian.com
  
  Every new mother has to make their work and family lives fit together. Lindsey Fish and Lucy Chaplin host events that help other mums rethink their careersReturning to full-time work after maternity leave is a daunting prospect for any new mum, but starting a new career that fits in with family life can be an even bigger challenge.Two-thirds of women returning to work after a career break, such as taking time out to look after children, go back into lower-skilled or lower-paid roles, according t
  
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• I’m losing my unused Vodafone pay-as-you-go credit after switching

  23-02-2017 08:00
  
  Vodafone and Ofcom confirm it is a case of ‘use it or lose it’I was interested to read your article about Vodafone’s refusal to repay £420 of unused credit when a customer cancelled their pay-as-you-go account. My mother-in-law has a similar issue. Before switching to another provider she asked Vodafone for a refund of the £51.89 credit on her account. She was told this could not be issued and it was instead suggested she make use of the money by ordering games on G
  
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• Do we need a credit check to find out whether we can remortgage?

  23-02-2017 08:00
  
  My husband and I want to finance a new kitchen and don’t want a loan refusal to tarnish our future ability to borrow Q In 2013 we bought our house on a Scottish island for £229,500 on a 16-year mortgage. I am 51, my husband 56, so we now have a mortgage for the next 12 years. The house is big but the kitchen is tiny, and we have a large family. We are thinking about having a new kitchen built and there seem to be two options. We can either build one in our dining room for about &poun
  
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• O2 in £125m deal to keep naming rights to former Millennium Dome

  23-02-2017 07:31 via theguardian.com
  
  New 10-year deal with site owner AEG will extend mobile operator’s sponsorship of south-east London entertainment venueThe mobile operator O2 has struck a deal thought to be worth about £125m to keep the naming rights to the London venue the O2 until at least 2027.The 10-year deal, announced the day after the venue played host to the 2017 Brit awards, means the Telefonica-owned mobile operator’s relationship with what was once the ill-fated Millennium Dome will stretch to at le
  
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• Another Brexit boost as Lidl creates 360 jobs at new regional distribution centre

  23-02-2017 01:01 via feedproxy.google.com
  
  A DISCOUNT supermarket is to create up to 360 jobs at a new multi-million pound regional distribution centre in North Lanarkshire.
  
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