Financial news

• Jetstar and Virgin Australia fined $745,000 over misleading prices

  07-03-2017 20:58 via theguardian.com
  
  Penalties come after federal court finds adding or ‘dripping’ extra fees on to advertised airfares is deceptiveJetstar and Virgin Australia have been fined hundreds of thousands of dollars after they were found to have advertised “false and misleading” flight prices.The federal court on Tuesday ordered Jetstar Airways to pay $545,000 and Virgin Australia Airlines to pay $200,000 for breaches of Australian consumer law. Continue reading...
  
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• Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley

  07-03-2017 20:18 via theguardian.com
  
  Charlotte Hogg will survive her failure to declare a conflict of interest, but the Bank has revealed it remains a cosy clubCharlotte Hogg, a week ago, could not have been clearer. “I am in compliance with all of our codes of conduct. I know that. I helped to write them,” declared the Bank of England’s new deputy governor to the Treasury select committee.Now comes the excruciating apology. Actually, no, she was not in compliance because she didn’t declare to the Bank when
  
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• Nestlé to remove 10% of sugar from all snacks in UK and Ireland by 2018

  07-03-2017 20:10 via theguardian.com
  
  Corporation vows to cut equivalent of 7,500 tonnes of sugar from confectionery without resorting to artificial sweetenersNestlé, one of the world’s biggest chocolate manufacturers, will take 10% of the sugar out of its confectionery in the UK and Ireland by 2018.The corporation says the cut is from the levels existing in its sugary products in 2015 and will amount to about 7,500 tonnes. It makes several well-known brands, including Aero, Dairy Box, Drifter, KitKat, Lion, Milkybar, M
  
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• Bank of England deputy governor gets warning over conflict of interest

  07-03-2017 20:01 via theguardian.com
  
  Charlotte Hogg apologises after breaching guidelines by not declaring her brother’s role as Barclays director of group strategy The governor of the Bank of England has censured his new deputy governor after she admitted breaking Bank rules by failing to declare that her brother worked for Barclays.Mark Carney issued Charlotte Hogg with a verbal warning over her failing to disclose her brother Quintin’s role as Barclays director of group strategy. In doing so, she breached Bank of Eng
  
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• Blood couriers launch case challenging self-employed status

  07-03-2017 19:28 via theguardian.com
  
  Couriers working for The Doctors Laboratory, which provides services for the NHS, say they get no holiday or sick payCouriers carrying emergency blood supplies and delivering passports have kicked off two new challenges to the gig economy as MPs debate how to clarify workers’ employment status.Five cyclists, motorcyclists and van drivers carrying emergency blood supplies to hospitals and samples to laboratories on Tuesday launched a claim challenging their self-employed status in the first
  
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• Hammond gets budget boost as OECD upgrades UK growth forecast

  07-03-2017 19:10 via theguardian.com
  
  UK expected to grow faster than thought in 2017 but chancellor urged to support jobs amid fears over inflation and house pricesThe west’s leading economic thinktank has raised its outlook for the UK this year, in a boost to Philip Hammond ahead of his budget. But the Organisation for Economic Cooperation and Development said it still expected Britain’s economy to shift down a gear compared with last year as rising inflation hits households.The Paris-based organisation predicts that a
  
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• The Policing and Crime Act 2017: Changes to the UK Financial Sanctions Regime - Lexology (registration)

  07-03-2017 18:52
  The Policing and Crime Act 2017: Changes to the UK Financial Sanctions Regime
  Lexology (registration)
  The policing and crime bill received royal assent on 31 January 2017. The new Policing and Crime Act 2017 (the Act) introduces changes to a wide cross-section of the criminal justice system, including policing powers and licensing laws. Importantly ...
  
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• Bank of England deputy governor 'must resign' over code of conduct breach - as it happened

  07-03-2017 18:46 via theguardian.com
  
  Charlotte Hogg has admitted she didn’t declare that her brother Quintin works for Barclays, and one MP says she should quitBoE deputy governor admits breaching bank codeTreasury committee concerned Labour MP: Hogg has broken standards of public lifeBank top brass: She’s a superb public servant 5.46pm GMTCaution was the watchword for investors, ahead of some key events later in the week, notably the UK budget, the latest meeting of the European Central Bank, and the US non-farm payrol
  
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• E.ON customers to pay extra £97 a year after 'monstrous' price rise

  07-03-2017 18:28
  
  Electricity and gas supplier blames increase, which affects 2.5 million people, on rising cost of government schemesAbout 2.5 million E.ON customers will pay an extra £97 a year on energy bills in what consumer groups have branded a “monstrous” and “crippling” blow for householders.The company’s 8.8% price rise for customers on a dual-fuel standard tariff from the end of next month is the second highest increase among several announced recently by rivals, incl
  
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• How to save WH Smith from its 'godawful uniformity'

  07-03-2017 17:52 via theguardian.com
  
  Waterstones boss James Daunt has laid into the British retail institution for its ‘crushing consistency’. We ask the experts what it could do to improveWH Smith is such a British institution that criticism of it hurts a bit – even if it charged you £1.60 for a bottle of water and tried to sell you a bar of chocolate at the till on your last visit. James Daunt, managing director of Waterstones, said WH Smith had “godawful uniformity” and “crushing consist
  
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• German economy CRISIS: Car demand PLUNGES as factory orders hit lowest level since 2009

  07-03-2017 17:46 via feedproxy.google.com
  
  FALLING demand for German cars has pushed the country's manufacturing sector to record its worst month since 2009, raising fears for economic powerhouse of the eurozone.
  
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• 'Investigate price fixing' Gina Miller launches fresh campaign to treat customers fairly

  07-03-2017 17:31 via feedproxy.google.com
  
  ANTI-BREXIT campaigner Gina Miller has demanded the financial regulator investigates a part of the investment industry for price collusion.
  
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• BREXIT BOOST: UK wages and job postings surge despite fears over divorce from EU

  07-03-2017 15:37 via feedproxy.google.com
  BRITAIN’S labour market is experiencing an increase in wages and job postings despite uncertainty over Brexit.
  
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• Budget 2017: Philip Hammond urged to change inheritance tax rules

  07-03-2017 15:28 via feedproxy.google.com
  
  PHILIP Hammond has been urged to change inheritance tax rules when he gives his 2017 Budget tomorrow and raise annual thresholds that have been at the same level for more than 30 years.
  
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• UK house prices were rising too fast – bring on the slowdown | Nils Pratley

  07-03-2017 15:25
  
  News that the market is cooling may not please homeowners looking to sell, but we were heading towards dangerous watersEncouraging news from the housing market: cooler winds are blowing. The rate of growth in prices fell in February to the lowest for three-and-a-half years, according to the Halifax’s index. This development may not delight homeowners looking to sell in a hurry but, for anybody with a wider or longer perspective, a slowdown is exactly what the UK needs.Annual house price in
  
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• High levels of violence and use of force at last G4S-run child jail, report finds

  07-03-2017 13:15 via theguardian.com
  
  Report says inspectors witnessed staff struggling to maintain order at Oakhill secure training centre near Milton KeynesLevels of violence at the last G4S-run child jail have been “very high” and the number of times staff have used force has doubled in the past year, according to an inspection report.
  An Ofsted report into Oakhill secure training centre (STC), near Milton Keynes, says that inspectors witnessed staff “struggling to maintain order and control” and a subsequ
  
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• MPs debate ban on sexist workplace dress codes – video report

  07-03-2017 13:12
  
  Labour MPs Helen Jones and Gill Furniss and equalities minister Caroline Dinenage debate a ban on mandatory workplace high heels in Westminster Hall on Monday. Nicola Thorp, a receptionist who was sent home without pay for wearing flat shoes, started an online petition that gathered more than 150,000 signatures, making it eligible for a debate in parliamentMPs debate sexist workplace dress codes following petitionContinue reading...
  
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• Pound to euro exchange rate: Sterling falls to six week lows ahead of 2017 Budget

  07-03-2017 13:10 via feedproxy.google.com
  
  THE pound has tumbled further against the euro, as the looming UK Budget and an update from the European Central Bank puts pressure on Britain's exchange rate.
  
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• Food inflation doubles in a month as UK shoppers start to feel the pinch

  07-03-2017 12:32
  
  Sharp fall in pound since EU referendum feeds into big rise in food prices with butter up 15% in a month, fish up 8% and tea up 6.6%Supermarket inflation doubled last month as shoppers had to pay more for staples such as butter and tea, underlining expectations that household budgets will come under extra pressure in 2017.Grocery inflation jumped to a near three-year high of 1.4% in the 12 weeks to 26 February, from 0.7% in the 12 weeks to 29 January, according to the consumer consultancy Kantar
  
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• Best cash ISAs 2017: Virgin Money and Paragon offer top rates

  07-03-2017 11:40 via feedproxy.google.com
  
  SAVERS have less than a month to use their 2016/17 ISA limit before the tax-free allowance disappears for good.
  
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• Pound falls to 7-week LOW against dollar as US gets set to raise interest rates

  07-03-2017 11:30 via feedproxy.google.com
  
  THE pound has tumbled to a fresh seven-week low against the dollar and six-week low against the euro, amid growing expectations US fed fund rates will soon be hiked.
  
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• We managed tax transparency in Pakistan. Why not everywhere else? | Umar Cheema

  07-03-2017 11:07
  
  Five years ago, I exposed how few Pakistani MPs were paying any taxes. Now I’m part of a campaign to get 7,000 politicians worldwide to disclose their tax recordsAt a time when the world is witnessing a wave of mistrust over the true interests of ruling elites, it may seem strange that Pakistan – a country so often associated with corruption – is in one respect the benchmark for transparency. When it comes to the disclosure of politicians’ tax affairs, the likes of Philip
  
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• Uber's 'hustle-oriented' culture becomes a black mark on employees' résumés

  07-03-2017 11:00 via theguardian.com
  
  The brazen attitude that helped Uber soar is backfiring, and now employees looking for their next jobs are having to defend themselves to recruiters
  David was attending “Uberversity”, the ride-hail company’s three-day orientation for new employees, when he was introduced to “the Uber way”. The trainers gave David, who asked not to be identified by his real name, and his cohort a scenario: Uber has learned that a rival company is launching an equivalent to UberPool (
  
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• Arid land to a fertile Eden: permaculture lessons from Portugal

  07-03-2017 10:59 via theguardian.com
  
  Tamera’s ecology experts transformed an area at risk of desertification – and say they can do the same anywhere in the worldThe land undulates upwards into gentle hills, cradling nooks of fertile terraces growing sweetcorn, sunflowers and tomatoes, before rolling down into tranquil lakes. It looks like a natural Edenic paradise on earth. But 20 years ago this land was arid and barren, and farming was a struggle.The land is called Tamera, the name given to these 330 acres in southern
  
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• How to watch the Budget 2017 - When is the Budget? What to expect from Philip Hammond

  07-03-2017 10:30 via feedproxy.google.com
  
  CHANCELLOR Philip Hammond has warned that tomorrow’s Budget will not unveil a “spending spree”. But what will be in the Budget and how can you watch it live?
  
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• Philip Hammond urged to pause cut in benefits for widowed parents

  07-03-2017 10:00
  
  More than 3,200 people write to MPs to say reforms to bereaved support payments will leave 75% of people worse off in cash termsPhilip Hammond has been urged to pause the introduction of a cut in benefits for widowed parents after MPs received letters from 3,200 people affected by the change in rules due in April.The leaders of two charities that support parents and children after the death of a loved one have written to the chancellor to ask him to think again about the reform, which they say w
  
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• From busuu to Babbel, language-learning startups adapt to thrive

  07-03-2017 08:30 via theguardian.com
  
  Investors and businesses leaders are backing the swath of language apps, with China, the US and post-Brexit Britain presenting growth opportunitiesLanguage learning is big business. Each year, students coming to study English in the UK contribute £2bn to the economy. It’s also a market suited to the flexibility of mobile learning and, sure enough, language learning apps are seeking to fill the gaps – more than 350 are listed on the Apple App Store alone.But language tech isn&rs
  
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• Lost for words when unwanted satnav doubled our Hertz car hire bill

  07-03-2017 08:00
  
  The item was marked on the form we signed as ‘Neverlost’ but I made the mistake of trusting the agentLast October we pre-booked a hire car using the Hertz website so as to book direct. We paid €100 (£86) in advance. During the car pickup at Munich airport the guy simply asked if we wanted an extra driver or additional insurance. I answered “No” to all his questions. Continue reading...
  
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• Patagonia and The North Face: saving the world – one puffer jacket at a time

  07-03-2017 07:00 via theguardian.com
  
  The retail giants are not only competing to sell outdoor gear – they are rivals in the contest to sell the thrill of the wilderness to the urban massesOn the night of his 30th birthday, after a few drinks, Dean Karnazes decided that he would celebrate by running all the way from San Francisco down the coast to the town of Half Moon Bay, a distance of 30 miles. So began a career as an endurance runner. He has run 50 marathons in 50 consecutive days in all 50 states, and taken part in such e
  
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• Euro PLUNGES as Marine Le Pen given big boost ahead of French elections

  07-03-2017 05:46 via feedproxy.google.com
  
  THE euro has tumbled against the dollar yesterday after Marine Le Pen was given a fresh boost in the looming French presidential elections.
  
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• Jo Malone, Angela Hartnett and June Sarpong to headline businesswomen event

  07-03-2017 01:00 via feedproxy.google.com
  
  PERFUME guru Jo Malone, celebrity chef Angela Hartnett and TV presenter June Sarpong are headlining a week-long series of talks by successful women with the hope of inspiring the next generation of female entrepreneurs and leaders.
  
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