Financial news

• Shale gas firm Cuadrilla brands anti-fracking activists 'irresponsible'

  02-03-2017 19:35 via theguardian.com
  
  CEO Francis Egan complains about protesters ‘harassing’ contractors supplying Preston New Road site in Lancashire The chief executive of Cuadrilla, a leading fracking company, has complained at what he calls intimidation and harassment by “irresponsible” activists protesting at a shale gas site the firm is constructing in Lancashire. Related: Cuadrilla starts work on Lancashire fracking siteContinue reading...
  
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• Can Impossible Foods and its plant burgers take on the meat industry?

  02-03-2017 19:33 via theguardian.com
  
  Impossible Foods is on the cusp of big things. But as the company lines up its first burger chain, it still needs to show it can convert the meat-loving massesI sat down to have my first Impossible Burger, the plant-based meat substitute that has received a lot of press and nice reviews from high profile chefs and their customers. My burger, topped with caramelized onion, dill pickles, lettuce and a special sauce, was cooked medium rare. It looked like a conventional burger, complete with the pi
  
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• Brexit without trade deal would open Pandora's box, says CBI chief

  02-03-2017 19:25 via theguardian.com
  
  Paul Drechsler says up to 90% of UK exports to EU would be hit by export tariffs or non-tariff barriers if no deal is agreedPlunging out of the European Union in two years without a new trade deal would open up a Pandora’s box for Britain’s businesses, Paul Drechsler, the president of CBI, has warned.As Theresa May prepares to trigger the formal talks process for leaving the EU, Drechsler used a speech at Mansion House in the City of London on Thursday night to warn that the two-year
  
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• Just one in five complaints about potential mis-sold PPI made so far

  02-03-2017 18:36 via theguardian.com
  
  UK’s financial watchdog sets final deadline of August 2019 for filing claimsBritain’s financial watchdog has admitted that only one in five potential complaints about mis-sold payment protection insurance had been made so far, as it set a final deadline of August 2019 for filing claims.The cut-off of 29 August 2019 provoked an outcry from consumer groups, but will be welcome news for UK banks, which have set aside more than £40bn to cover compensation payments and other costs r
  
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• Agent Provocateur founder brands Mike Ashley's purchase 'a stitch-up'

  02-03-2017 18:04 via theguardian.com
  
  Joe Corré warns of a swath of litigation if ‘preposterous’ and ‘disgraceful’ sale of upmarket lingerie brand to Sports Direct boss goes aheadThe co-founder of Agent Provocateur has described the sale of the upmarket lingerie retailer to Mike Ashley as “a disgrace to British business” and “preposterous”.Joe Corré, the son of Dame Vivienne Westwood, warned that Ashley and 3i, the private equity fund has offloaded the brand, will “
  
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• Snap Inc shares open at $24 in stock market debut - as it happened

  02-03-2017 17:43 via theguardian.com
  
  Shares in Snap, owner of messaging app Snapchat, rose to $21-23 a share from $17 as trading got underway on the New York Stock Exchange Greece is heading for fourth bailout, opposition claimsMoody’s: ‘hard’ Brexit among key risks for IrelandEurozone inflation rises to 2%, unemployment holds steady 4.43pm GMTThat’s about it from London. Our team in New York has crunched the numbers. Here’s their take …Related: Snapchat goes public making 26 year old founder a
  
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• Snapchat goes public making 26 year old founder a multi-billionare

  02-03-2017 17:27 via theguardian.com
  
  Snap Inc’s IPO pushes Evan Spiegel and Bobby Murphy’s company ahead of Twitter and potentially creates a serious rival for FacebookSnap Inc, the company behind disappearing messaging app Snapchat, went public on Thursday at price that values the loss-making tech company at $29bn and catapulted its twentysomething co-founders into the top tier of tech billionaires.
  Shortly after Snap co-founders Evan Spiegel and Bobby Murphy rang the opening bell on the New York Stock Exchange, the co
  
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• 'Switched on' Uganda welcomes refugees – but at an environmental cost

  02-03-2017 16:37 via theguardian.com
  
  With the refugees being given land, voices are calling for education and funds to prevent the total destruction of trees
  Simon Modi, 17, has just crossed into Yumbe in northern Uganda from South Sudan and within a few hours will be bussed to Bidi Bidi, one of world’s largest refugee settlements. Within 24 hours, he and his relatives will be settled on a half-acre plot with the tools to farm and build a home.The Ugandan refugee operation is seamless. But for now, it fails to sooth Modi. All
  
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• UK financial firms warned not to circumvent EU rules - Business World (press release) (blog)

  02-03-2017 16:12
  Business World (press release) (blog)
  UK financial firms warned not to circumvent EU rules
  Business World (press release) (blog)
  Exploiting loopholes in European Union rules could bar Britain from accessing the bloc's securities markets after Brexit, a senior member of the European Parliament said on Thursday. New EU rules to increase transparency in securities markets come into ...en meer »
  
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• More than half of new-build homes 'have major faults', plus the best city cycle schemes

  02-03-2017 15:49 via theguardian.com
  
  Also, minting the new £1 coin, city-centre homes, and a reader who has never driven in London pursued for a parking fineHello 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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• Nick Candy accused of being secret partner in brother's property group

  02-03-2017 15:48 via theguardian.com
  
  Christian Candy admits to court that if his brother was a co-owner of CPC ‘money would be owed to the Inland Revenue’Nick Candy has been accused in the high court of saving “enormous sums” of tax by being a secret partner in his brother Christian Candy’s luxury property business.The claim emerged in a case in which Mark Holyoake, a former university friend of Nick Candy, is suing the pair for £132m. He alleges that he was threatened by the Candy brothers after
  
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• BT chief attacks rampant price rises for TV sports rights

  02-03-2017 15:48 via theguardian.com
  
  Telecoms giant says price rises are becoming unsustainable as it battles Sky for £1bn-plus rights to air Champions LeagueThe chief executive of BT has said that rampant inflation in the prices paid for TV sports rights must come to an end, as the telecoms giant takes on rival Sky in the £1bn-plus battle for Champions League football.First-round bids for Champions League rights are understood to have been submitted this week, with governing body Uefa aiming for an up to 30% increase f
  
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• Home ownership in England at a 30-year low, official figures show

  02-03-2017 15:32 via theguardian.com
  
  English Housing Survey finds private rented sector doubled in size since 2004, with ownership at lowest level since 1985Home ownership in England has fallen to its lowest level for 30 years, while the number of people privately renting is now higher than in the early 1960s, according to official figures.Government data reveals that the private rented sector has doubled in size since 2004, with almost half of all people in England aged 25 to 34 paying a private landlord for their accommodation.Co
  
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• UK will still be financial services centre after Brexit - Irish Legal News

  02-03-2017 14:29
  
  UK will still be financial services centre after Brexit
  Irish Legal News
  The UK will “continue to be a strong global financial services centre” after Brexit, Lord Hill of Oareford, former EU commissioner for financial stability, has told Dublin firm Matheson. Lord Hill was interviewed alongside Ireland's minister of state ...
  
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• ITV shouldn't get away with blaming Brexit for falling revenues | Nils Pratley

  02-03-2017 13:57 via theguardian.com
  
  The broadcaster grumbles about ‘political and economic uncertainty’ – but consumer confidence is still highNice dividend, shame about the advertising revenues. ITV’s shares rose 4.5% to close at their highest price since last June’s referendum as the broadcaster demonstrated again that it is very good these days at generating cash and distributing the spoils to investors. It is less clear, however, whether its 3% fall in advertising spend – the first since 200
  
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• UK financial watchdog sets deadline for PPI claims - The Money Pages

  02-03-2017 13:37
  
  Mirror.co.uk
  UK financial watchdog sets deadline for PPI claims
  The Money Pages
  The UK financial regulator has said consumers wishing to make a claim over mis-sold payment protection insurance (PPI) will have to do so by 29 August 2019. FCALogo. The Financial Conduct Authority said it will launch a campaign in August to encourage ...
  UK's Financial Conduct Authority Finalise Plans To Place A Deadline On PPI ...Exchange News Directalle 40 nieuwsartikelen »
  
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• 'You weren’t scared?': Nissan takes us for a ride in the Leaf driverless car

  02-03-2017 13:13 via theguardian.com
  
  It’s guided by five radars, four lasers and 12 cameras – but a drive around London shows there’s still some work to doA self-driving car has had its first trials on major London roads, proving the technology works – or it does with an attentive driver behind the wheel to slam on the brakes.
  Guided by five radars, four lasers and 12 cameras, a converted electric Nissan Leaf has been following a carefully mapped route around Beckton, in east London, driving itself along the
  
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• Asda imposes harsher terms on suppliers after pound's Brexit slide

  02-03-2017 11:25 via theguardian.com
  
  Struggling retailer, which owns the George brand, says clothing businesses may need to wait 90 days for paymentAsda, Britain’s third largest supermarket chain and owner of the George brand, is imposing harsher payment terms on its clothing suppliers as it attempts to turn the business around.A letter sent on Tuesday to international suppliers warned they will now have to wait 50% longer to receive payment, as it extends its terms from 60 to 90 days. Continue reading...
  
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• Philip Green owes us BHS workers much more than ‘up to’ £363m | Grant Atterbury

  02-03-2017 11:09 via theguardian.com
  
  Be sceptical about this asset-stripping knight’s pension fund promise. In such cases the only numbers that count are the ones preceded with ‘at least’In the nine months since I was made redundant after eight and half years working at BHS, much has been said about bringing those responsible to account but little has actually been done. It came as a surprise then when my Twitter feed burst into life with excited messages announcing that the disgraced former BHS owner Sir Philip G
  
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• World Book Day: small businesses celebrate books all year round

  02-03-2017 11:00 via theguardian.com
  
  According to figures from the Publishers Association, the UK publishing industry is worth £4.4bn and sales of physical books are again growing, as e-books decline. For many small businesses, books are a labour of love, not a money-making machine. But many are thriving despite the challenges Continue reading...
  
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• More than half of new-build homes in England 'have major faults'

  02-03-2017 10:07 via theguardian.com
  
  Shelter survey finds 51% of owners of recent new builds experience problems including construction, fittings and utilitiesMore than half of the buyers of new homes have experienced major problems with their properties, according to research, which comes after Bovis Homes agreed to pay £7m compensation to customers for poorly built houses.A YouGov survey for the housing charity Shelter found that 51% of homeowners of recent new builds in England said they had experienced major problems incl
  
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• Donald Trump has made rookie mistakes – he must change his approach

  02-03-2017 09:59 via theguardian.com
  
  The new president can’t change the rules of the game singlehandedly. He must learn to work effectively within the systemThe first few weeks of Donald Trump’s presidency have contained what felt like a year’s worth of activity and rancour. The US media is “all Trump, all the time” – and they have had plenty of fuel. Amid Trump’s initial moves to “shake up” Washington, DC, including a five-year lobbying ban and approvals of pipelines that Barac
  
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• Will Trump build a wall protecting US banks from global rules? | Howard Davies

  02-03-2017 08:44 via theguardian.com
  
  Attacks on the Federal Reserve raise alarm bells – it could be forced to halt worldwide cooperation on banking regulationAs President Trump struggles to staff his administration with sympathisers who will help transpose tweets into policy, the exodus of Obama appointees from the federal government and other agencies continues. For the financial world, one of the most significant departures was that of Daniel Tarullo, the Federal Reserve governor who has led its work on financial regulation
  
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• IFS: Growth in UK living standards worst in 60 years

  02-03-2017 08:01 via theguardian.com
  
  The Institute for Financial Studies is predicting that households will be almost 20% worse off by 2021Britain is in the midst of the weakest growth in living standards in at least 60 years, with low income families faring the worst, a leading thinktank has warned.Weak earnings growth, together with changes to taxes and benefits, will lead to a rise in inequality by 2021-22, according to the Institute for Fiscal Studies (IFS). In a new report on living standards, poverty and inequality, the IFS s
  
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• Should I use a quick-property-sale company to speed up my move?

  02-03-2017 08:00 via theguardian.com
  
  I’ve heard that some firms drop the price they will pay for your house at the last minuteQ I am relocating this year and it could be as early as April or May, so I will need to move at quite short notice. I have no plans to return to the area, so I am thinking about the best way to sell my house quickly. Do you have any advice for me please? I am worried about being able to sell at short notice. I don’t want to be in a position where I’m left unable to move because of things go
  
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• Are the gig economy and online delivery making our roads less safe?

  02-03-2017 07:00 via theguardian.com
  
  Campaigners say examples involving FedEx and CitySprint illustrate road safety concerns around vehicle maintenance, driver hours and training
  The use of self-employed drivers and pressure to make on-time deliveries are risks to road safety, warn cycling and road safety campaigners.
  The growth in online shopping and home delivery helped push van traffic in the UK to a new peak in 2016. However, vehicles most used by online delivery drivers, those under 3.5 tonnes, are not subject to the operator
  
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• UK Prime Minister Theresa May faces first Brexit bill defeat - Financial Express

  02-03-2017 05:50
  
  Financial Express
  UK Prime Minister Theresa May faces first Brexit bill defeat
  Financial Express
  Prime Minister Theresa May has faced her first parliamentary defeat over Brexit after Britain's upper house voted to amend and thereby delay a bill empowering her to begin talks for the UK's exit from the EU. By: PTI | London | Published: March 2, 2017 ...en meer »
  
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• Yahoo boss Marissa Mayer loses millions in bonuses over security lapses

  02-03-2017 04:57 via theguardian.com
  
  After hacks affecting the personal details of 1 billion users, the chief executive loses cash bonus of $2m and gives up stock awards worth millions moreYahoo chief executive Marissa Mayer will lose her annual bonus and the company’s top lawyer has been removed over their mishandling of security breaches that exposed the personal information of more than 1 billion users.Mayer’s cash bonus is worth about $2m a year and her personal cost from the security flaws increased when the board
  
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• Business group calls for change to schemes giving tax breaks to 'select few'

  02-03-2017 01:01 via feedproxy.google.com
  
  HUNDREDS of millions of pounds in tax breaks going to executives should be switched to ordinary workers, a business group has urged.
  
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