Financial news

• Brexit: Early financial settlement won't be 'forced on UK' - BBC News

  13-03-2017 22:18
  
  BBC News
  Brexit: Early financial settlement won't be 'forced on UK'
  BBC News
  The UK has been told it will not have to agree the exact sum of its financial exit settlement in the early stages after Article 50 has been triggered, BBC Newsnight has learned. A message has been passed through informal channels from EU chief Brexit ...
  Brexit: Early financial settlement won't be 'forced on UK' | TVC NEWSTVC Newsalle 7 nieuwsartikelen »
  
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• Brexit leads cosmetics firm Lush to look for expansion outside UK

  13-03-2017 21:00 via theguardian.com
  
  Government’s ‘lack of clarity’ over exit plan causes Dorset-based company to move staff to new German factoryLush has threatened to focus its planned expansion outside the UK because of the government’s “lack of clarity” over Brexit. The British cosmetics firm said it is exploring options for growth abroad, blaming the government for not having a viable exit plan. It also revealed that more than 80 of its staff took up an offer to move to its new factory in Ge
  
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• Bank of England deputy Charlotte Hogg to face MPs' verdict

  13-03-2017 20:57 via theguardian.com
  
  Treasury select committee expected to publish report on suitability for role following failure to disclose potential conflict of interestCharlotte Hogg faces a crucial 24 hours for her future as MPs prepare to publish a report into whether she is suitable to hold the post of deputy governor of the Bank of England. Hogg has been braced for criticism since her admission to MPs on the Treasury select committee that she had she failed to disclose potential conflicts of interest.The committee is expe
  
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• Peugeot-Vauxhall deal could hit UK steel industry | Letters

  13-03-2017 20:55 via theguardian.com
  
  You give no context for your photograph of a worker cleaning a melting pot at the Salzgitter steelworks (Bringing a shine to steelworks, 8 March). To provide some background, you might like to point out to your readers that the local state of North Rhine-Westphalia holds shares in Salzgitter and also in Volkswagen. This doubtless helps ensure that the steel maker gets plenty of offers from the car group. By contrast, Port Talbot’s largest car customer is Vauxhall, which, according to the A
  
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• Employment agency at centre of Sports Direct scandal axed by Amazon

  13-03-2017 20:52 via theguardian.com
  
  Transline Group will no longer supply temporary staff to the five of the world’s largest online retailer’s UK warehousesTransline Group, one of the employment agencies at the centre of the Sports Direct scandal, has been axed from supplying temporary warehousing staff to Amazon, the world’s largest online retailer.Transline workers deployed in five of Amazon’s 12 UK warehouses are to be transferred to two rival employment agencies over the coming days and weeks in the lat
  
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• Nick Candy denies claim he is jointly in charge of brother's CPC empire

  13-03-2017 20:17 via theguardian.com
  
  Property developer rejects lawyer’s claim that the distinction between his company and Christian Candy’s is ‘pure fantasy’Nick Candy has denied allegations that the distinction between his business empire and that of his brother is “pure fantasy”, as a £132m high court tussle with a former university friend delved into the duo’s tax affairs.Businessman Mark Holyoake is claiming in court that the brothers threatened him, after he took out a £1
  
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• Top executives may be brilliant – but their pay's about timing and luck

  13-03-2017 20:07 via theguardian.com
  
  Surely long-term incentive schemes, the biggest driver of boardroom inflation, have had their day?If you are the chief executive of a FTSE 100 company, and thus the recipient once a year of oodles of share-based incentives worth several times your £1m-ish salary, the quickest way to get seriously rich is as follows. First, trash your price. Second, wait for your incentive shares to be awarded at the bottom of the market. Third, lead the glorious recovery. Even if you succeed only in gettin
  
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• Budget help for pubs only a 'stay of execution', says MP

  13-03-2017 19:34 via theguardian.com
  
  Philip Hammond may have overstated how many pubs will qualify for business rates discount, says Labour’s Jim McMahonThe government’s pledge to protect England’s pubs by giving them a £1,000 business rates discount has been described as a “stay of execution” rather than long-term support by a Labour MP, as new industry estimates suggested thousands of businesses would get no help at all. Jim McMahon said it was welcome that chancellor Philip Hammond had shown s
  
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• FTSE 250 hits record high, Fitch warns of Brexit challenges and MPs grill OBR - as it happened

  13-03-2017 19:19 via theguardian.com
  
  All the day’s economic and financial news, as investors anticipate US interest rates being raised on Wednesday, and Britain starting its exit from the EU this weekTreasury committee quiz Office for Budget ResponsibilityFTSE 250 closes at record highFitch: Brexit hard work starts nowUS rate hike likely this week
  Pound up against the US dollar 6.19pm GMTFinally, George Mudie MP asks if the possibility of Scotland breaking away from the UK will be modelled in the next OBR forecastsRobert Chot
  
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• ‘To fly, to starve’ – BA cabin crew deserve better | Letter

  13-03-2017 18:38 via theguardian.com
  
  As academics with an interest in employment relations we wrote to the Guardian seven years ago (Letters, 25 March 2010) protesting at British Airways’ imposition of lesser pay and conditions for its cabin crew, and the apparent desire of its CEO, Willie Walsh, to break their union. BA’s intransigence led to 21 days of strike action, endorsed by overwhelming ballot majorities, in one of the bitterest disputes of recent years. Ultimately, in 2011, the British Airlines Stewards and Stew
  
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• Anglo American caps bonus payouts after shareholder revolt

  13-03-2017 18:16 via theguardian.com
  
  Campaign group says mining company’s plan to limit executive payments to 300% of salary is still ‘far too generous’Mining company Anglo American is attempting to head off a fresh row over executive pay by capping the size of bonus payouts in the face of sharp movements in its share price.More than 40% of its shareholders voted against its pay deals last year and the company is issuing its pay schemes this year at a time of renewed scrutiny over directors’ bonuses followin
  
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• Brexit talks: five key challenges facing Theresa May

  13-03-2017 17:36 via theguardian.com
  
  Ratings agency Fitch highlights potential obstacles, from the size of the EU ‘divorce’ settlement to Scottish independenceTheresa May faces five key challenges as she embarks on the negotiations for the UK’s exit from the EU, according to the ratings agency Fitch.As the first country ever to seek a divorce, Fitch said the UK had no established path to copy and that the fraught period since the referendum in June was likely to give way to an even more combative period. Continue
  
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• The Scottish economy has strengths – but could it make a success of independence? | Larry Elliott

  13-03-2017 17:34 via theguardian.com
  
  A plunge in the oil price since the 2014 referendum and a budget deficit appear to make Scotland’s finances less than rosyConvincing the Scottish people that they would be better off after independence proved beyond Alex Salmond in 2014. Project Fear failed to deliver for David Cameron in the EU referendum last June but it did the trick in Scotland 21 months earlier.Nicola Sturgeon faces the same tough challenge. Indeed, constructing an economic case for independence looks harder now than
  
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• Credit card Britain: Seven out of ten adults have average debts of £6,372

  13-03-2017 17:08 via feedproxy.google.com
  
  CONSUMER debt has soared over the past 12 months, with three-quarters of British adults owing money outside of their mortgage, research has showed.
  
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• Bogus self-employment exploits workers and scams the taxman | Paul Mason

  13-03-2017 16:49 via theguardian.com
  
  Philip Hammond’s national insurance tax grab is a bad idea, but it has highlighted the rise of precarious employment and uneven taxationThe hairdresser is self-employed. So is the dog walker. So is the plumber who comes on behalf of the gas company to fix the boiler, despite the fact that his work seems to be controlled by a fascist computer system, timing him to the minute.The cab driver is self-employed, even though you paid an app. The cleaner takes cash. The physiotherapist is self-emp
  
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• Pound news: Sterling gains on US dollar despite approaching US rate hike

  13-03-2017 16:19 via feedproxy.google.com
  
  LAST week the pound dropped against the US dollar as the odds of the Federal Reserve increasing interest rates at Wednesday’s policy meeting surged beyond 80 per cent.
  
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• Petrol price war sparked as supermarket SLASHES fuel costs amid tumbling oil prices

  13-03-2017 16:06 via feedproxy.google.com
  
  DRIVERS are set to benefit from cheaper fuel costs as oil prices today hit their lowest level in three months.
  
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• Best cash ISAs 2017: Top rates offered by little known providers

  13-03-2017 15:41 via feedproxy.google.com
  
  PROVIDERS are raising ISA rates ahead of the 2016/17 deadline of April 5 - when this year's tax-free allowance disappears for good.
  
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• The Crusader: TV drama has happy ending

  13-03-2017 14:55 via feedproxy.google.com
  
  IT looked like the fates were lining up against a catalogue customer when her barely a year-old £740 television broke down, a repair was not possible and a promised refund did not come through.
  
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• Dutch election news: Euro set to fall amid election result chaos

  13-03-2017 14:34 via feedproxy.google.com
  
  THE euro could fall this week as the outcome of the March 15th Dutch election threatens to cast more doubts over the future of the EU.
  
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• UK STILL seen as ‘safe haven’ for foreign cash as investments set to remain post Brexit

  13-03-2017 14:29 via feedproxy.google.com
  
  CHINESE companies invested in Britain have seen returns soar in recent years according to new figures helping to ease concerns money flows could dry up after Brexit.
  
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• Tetley's new Indulgence teas target the flab-fighting capuccino crowd

  13-03-2017 13:55 via feedproxy.google.com
  
  LEADING tea brand Tetley is launching Indulgence, a new range of richly-flavoured black teas, in a bid to woo younger coffee connoisseurs more concerned these days about the calories in their cappuccinos and lattes.
  
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• 'It’s dance or die': The ballet dancer forbidden to perform by Islamic State

  13-03-2017 13:49 via theguardian.com
  
  Facing death threats, Ahmad Joudeh risked everything to keep his dream of dancing alive. Now the Palestinian dances for the Dutch National BalletHalf a year ago, ballet dancer Ahmad Joudeh was giving dance lessons to orphaned children in war-torn Damascus. Now he has made his debut at the Dutch National Ballet and is studying at the ballet academy in Amsterdam. “It took me a month to fully realise I really am in Amsterdam, and I still can’t believe my luck,” Joudeh says.For yea
  
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• Pound RISES against euro as Theresa May gears up to trigger Article 50 and start Brexit

  13-03-2017 13:24 via feedproxy.google.com
  
  THE pound has jumped against the euro amid expectations Theresa May is set to trigger Article 50 this week, kicking off Britain's exit from the European Union .
  
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• How to beat UK energy price rises

  13-03-2017 13:20 via theguardian.com
  
  As SSE becomes the latest – and last – of the big six to hike prices we show the best ways to reduce electricity and gas billsSSE has become the last of the big six energy companies to raise its prices – and the news isn’t good. Dual fuel prices will go up by 6.9% or £73 a year for the dual fuel bills of 2.8 million standard tariff customers from the end of April. While it’s not the worst out of the five suppliers who have declared a rise – that accolade
  
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• Rail strikes begin on Southern, Merseyrail and Northern networks

  13-03-2017 10:23 via theguardian.com
  
  Industrial action on three networks over role of train guards leads to deserted stations, empty trains and heavy trafficDeserted stations, empty trains and heavy traffic marked the beginning of a 24-hour rail strike over the role of train guards on Monday morning.The Southern franchise has been hit by a series of strikes in recent months, but Monday’s industrial action also involves the Merseyrail and Northern networks. Continue reading...
  
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• Martin Lewis: All homes RIPPED OFF by Big 6 standard energy bills after SSE hike

  13-03-2017 10:16 via feedproxy.google.com
  
  ANY home on a standard tariff with one of Britain's biggest energy providers are being ripped off, warned Martin Lewis after further bill hikes for millions of customers were announced today.
  
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• Yorkshire Building Society's First CR Report Does UK Financial Services Proud - Justmeans

  13-03-2017 09:03
  Yorkshire Building Society's First CR Report Does UK Financial Services Proud
  Justmeans
  Yorkshire Building Society Group has outlined how it is making a lasting and positive impact on society in the first annual review of its corporate responsibility performance. Highlights reported by one of the UK's largest member-owned mutual ...en meer »
  
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• Deal to allow individual Britons EU rights must go both ways, Theresa May told

  13-03-2017 08:31 via theguardian.com
  
  Eastern European politicians say if UK wanted to let its citizens apply for freedom of movement it would have to be reciprocalTheresa May has been told she will have to guarantee a reciprocal deal for eastern Europeans if she wants Britons to have the chance to individually apply for EU rights such as freedom of movement after the UK leaves the bloc.Diplomats and senior politicians from eastern European states said they would only support a plan to allow British citizens to apply for EU membersh
  
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• US interest rate rise to deepen debt crisis in developing world

  13-03-2017 08:00 via theguardian.com
  
  Poorest countries hit hardest as lower commodity prices and strong dollar raises repayment bills, campaigners warn
  Developing countries are struggling with steep rises in their debt payments after being hit by a double whammy of lower commodity prices and a stronger dollar, with more pain to come once the US central bank raises interest rates this week, campaigners warn.The Jubilee Debt Campaign said that some of the world’s poorest countries have seen the cost of repaying their debts &nda
  
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• Our manager promotes friends without advertising the jobs – what should I do?

  13-03-2017 08:00
  
  I challenged the HR manager, who warned me later not to mention it outside the companyTwice a week we publish problems that will feature in a forthcoming Dear Jeremy advice column in the Saturday Guardian so that readers can offer their own advice and suggestions. We then print the best of your comments alongside Jeremy’s own insights.I have been working for an organisation for six years, and over the past three there have been three different team leaders for my scheme. None of their post
  
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• Lessons of an entrepreneur: 'the first rule of business is to stay in business'

  13-03-2017 08:00 via theguardian.com
  
  At our second confessions event, startup entrepreneurs discussed the challenges they have faced in business and overcoming adversityOver Christmas 2006, while sitting in a Tokyo cafe, Efe Çakarel decided he would like to watch a movie on his laptop – and discovered there wasn’t a single online platform that would enable him to do so.Çakarel, who was speaking at the Guardian’s Confessions of a Startup seminar, was already a high-flyer. Born in Turkey, he studied el
  
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• Fast Track to confusion as Argos fails to right a wrong address

  13-03-2017 08:00 via theguardian.com
  
  Now my mum stands to lose £775In July 2016 my 91-year-old mother moved from Lincoln to Bexhill-on-Sea, East Sussex. We changed all her addresses for bank and credit cards etc, including her Argos card. In December she ordered an iPad Pro and a couple of other items (totalling £775.98), but unfortunately didn’t realise until afterwards that her old address in Lincoln was the delivery address on the order. She contacted Argos immediately, but it said it couldn’t change the
  
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• UK households spent £180m on 'unnecessary' power capacity – report

  13-03-2017 07:01 via theguardian.com
  
  Cost of putting power stations on standby over winter could soar to £387m, Energy and Climate Intelligence Unit report saysHouseholds have spent £180m over the past three years on spare power capacity that was never used, according to a report that comes as MPs prepare to debate what can be done about rising energy bills.Power stations have been put on standby over the winter since 2014 as part of the National Grid’s supplemental balancing reserve but the Energy and Climate Int
  
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• UK average annual rents fall for first time in six years

  13-03-2017 07:00 via theguardian.com
  
  Buying frenzy ahead of 2016 stamp duty hike pushed up supply of new homes for letting by 10%, Countrywide figures show Rents in Britain have recorded their first annual drop for six years, according to the UK’s biggest estate and lettings agency.In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year
  
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• U.K. Banks Said to Seek Closer U.S. Financial Ties After Brexit ... - Bloomberg

  13-03-2017 03:37
  
  Bloomberg
  U.K. Banks Said to Seek Closer U.S. Financial Ties After Brexit ...
  Bloomberg
  Top executives from the U.K. and U.S.'s largest banks have set up a group to foster closer ties in financial services between the two countries after Britain leaves ...en meer »
  
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• The Share Hunter: Standard Life speeding up its transformation

  13-03-2017 01:01 via feedproxy.google.com
  
  IN RECENT years, Standard Life has been transforming itself from life insurer to asset manager.
  
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• Consumer spending boost as Brits splash out on Valentine's Day romance

  13-03-2017 01:01 via feedproxy.google.com
  
  CONSUMER spending picked up in February as Valentine’s Day and the half-term school break encouraged people out to restaurants, bars, hotels and cinemas, a report has found.
  
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• City news: Vodafone, New breweries, Older workers, Balfour Beatty

  13-03-2017 01:01 via feedproxy.google.com
  
  TELECOMS giant Vodafone is to create 2,100 jobs under its biggest employment expansion for years.
  
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• MPs Censure UK for Scuttling Yellowcake Deal - Financial Tribune

  13-03-2017 00:54
  
  Financial Tribune
  MPs Censure UK for Scuttling Yellowcake Deal
  Financial Tribune
  Lawmakers denounced Britain for rejecting Iran's request to buy over 900 tons of uranium concentrate from Kazakhstan and called for the Iranian government's firm reaction. Iran's nuclear chief, Ali Akbar Salehi, announced on Feb. 25 plans for ...
  
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