Financial news

• How an Indigenous renewable energy alliance aims to cut power costs and disadvantage

  16-03-2017 23:53 via theguardian.com
  
  First Nations lobby group will support remote communities looking to make transition – and tackle climate changeLike so many of the Indigenous communities dotted across the Australian continent, the remote communities in north-west New South Wales are struggling. “These are not happy places,” says the Euahlayi elder Ghillar Michael Anderson.Many of the 300 or so residents of Anderson’s hometown of Goodooga rely on welfare, he says. Exorbitant electricity bills – up
  
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• Philip Green's lavish party for his 65th ends exile from social circuit

  16-03-2017 21:27
  
  Tycoon pilloried over BHS collapse, who settled with pensions regulator in £363m deal, throws bash at Dorchester hotelThe retail tycoon Sir Philip Green has ended his exile from the London social circuit with a lavish party at the Dorchester hotel to celebrate reaching retirement age. The guest list for the event to mark his 65th birthday included the model Kate Moss, the Strictly Come Dancing host Tess Daly and Sports Direct’s founder, Mike Ashley.Green’s reputation has been b
  
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• UK government woos world's housebuilders

  16-03-2017 19:42
  
  Housing minister tells Mipim conference in Cannes he will do all he can to help developers find land in BritainThe housing minister, Gavin Barwell, has told the world’s housebuilders that if they cannot find enough land on which to build new homes they can “come and see me” and he will try to help. Barwell told developers at the world’s biggest property conference in Cannes on Thursday that he wanted to be “clear and unequivocal” that he was there to help them
  
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• Letter bomb that exploded at Paris IMF office was sent from Greece

  16-03-2017 19:27 via theguardian.com
  
  Officials believe letter may have been sent by group that claimed responsibility for parcel bomb sent to German finance ministerA letter bomb that was dispatched to the headquarters of the International Monetary Fund (IMF) in Paris and blew up on Thursday, injuring the employee who opened it, was sent from Greece, the Greek public order minister has said. Greek intelligence officials are working on the assumption that the blast in the French capital may have been orchestrated by an urban guerril
  
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• UK Financial Watchdog To Consider Principal Risk Reporting - Law360 (subscription)

  16-03-2017 19:02
  
  UK Financial Watchdog To Consider Principal Risk Reporting
  Law360 (subscription)
  Law360, London (March 16, 2017, 6:02 PM GMT) -- Britain's financial reporting watchdog on Thursday asked asset managers, financial analysts and listed companies to help it develop effective reporting of principal risks and company viability as it seeks ...
  
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• Interest rate rise is further away than MPC vote suggests

  16-03-2017 18:50 via theguardian.com
  
  Bank of England will follow Fed with quarter-point rise only when evidence of upward inflationary spiral emergesWe have been here many times before. In the eight years since the Bank of England cut interest rates to a then record low of 0.5%, there has been regular speculation in the City that borrowing costs are heading back up.The latest flurry of excitement was caused when Kristin Forbes broke ranks with her monetary policy committee colleagues and said something should be done about rising
  
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• FTSE 100 hits new all-time closing high – as it happened

  16-03-2017 18:01 via theguardian.com
  
  UK central bank leaves borrowing costs at record low, but one MPC member pushed for a rise to tackle rising inflationLatest: FTSE hits new closing high of 7415 pointsBank of England split over interest ratesPound jumps
  Explosion at IMF officesEarlier:FTSE 100 leaps to record highEuropean markets boosted by Dutch resultsDutch election: What the experts say 4.55pm GMTBoom! Britain’s FTSE 100 index has set a new closing high.Relief over the Dutch election result, and the dovish comments from
  
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• How Britons spend their money, plus MPs turn the heat on energy firms

  16-03-2017 16:44 via theguardian.com
  
  Also, why so many new homes in the UK are badly built, crackdown on ticket touts and Virgin’s deflating balloon flights 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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• FFA UK figures released: financial fraud lost £2m each day in 2016 - SC Magazine UK

  16-03-2017 16:44
  
  SC Magazine UK
  FFA UK figures released: financial fraud lost £2m each day in 2016
  SC Magazine UK
  Financial Fraud Action UK (FFA UK) has released official figures showing that the UK lost £2 million each day during 2016 as a result of financial fraud. FFA UK figures released: financial fraud lost £2m each day in 2016. The figures show the overall ...
  Cost of scams at all time high say Financial Fraud Action UKLancashire Telegraphalle 9 nieuwsartikelen »
  
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• Student digs in Britain giving first-class returns

  16-03-2017 16:40 via theguardian.com
  
  Institutions invested £4.3bn last year in upmarket halls of residence, where room rentals cost up to £650 a weekForget multimillion-pound luxury flats on the Thames or gleaming towers overlooking Hyde Park, some of the most sought-after property investments are now student halls of residence.While sipping champagne on superyachts at the world’s largest property conference in Cannes this week, investors have been competing with one another to snap up a particularly popular type
  
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• Scotland's exam body promises living wage after £6 hourly rate revealed

  16-03-2017 15:59
  
  SQA, which runs state school examination system, faced pressure after it was accused of breaching the law and Scottish policyScotland’s examinations agency has promised it will now pay thousands of exam invigilators the living wage after repeated criticisms of its allegedly lax payments policy.
  The Scottish Qualifications Authority, which runs the country’s state school exam system, has been under intense pressure after invigilators accused it of breaching minimum wage legislation an
  
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• Child poverty in UK at highest level since 2010, official figures show

  16-03-2017 15:45
  
  About 30% of Britain’s children are now classified as poor, of whom two-thirds are from working familiesThe upward trend in child poverty in the UK has continued for the third year running, with the percentage of children classed as poor at its highest level since the start of the decade, latest official figures show.About 100,000 children fell into relative poverty in 2015-16, a year on year increase of one percentage point, according to household data published by the government on Thurs
  
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• Rupert Murdoch's Sky bid to be investigated by UK regulator

  16-03-2017 13:37 via theguardian.com
  
  Ofcom to assess whether deal gives mogul too much control of UK media and whether his family are ‘fit and proper’ ownersRupert Murdoch’s £11.7bn takeover bid for Sky is to be investigated by the media regulator to see if it gives him too much control of news output in the UK and whether the Murdoch family are “fit and proper” owners following the phone-hacking scandal.The culture secretary, Karen Bradley, has referred 21st Century Fox’s bid to buy the 61
  
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• Bank of England keeps UK interest rates on hold as it warns on inflation

  16-03-2017 13:10 via theguardian.com
  
  Monetary policy committee is split 8-1 as members decide base rate of 0.25% is appropriate for post-referendum economy The Bank of England has held interest rates at their record low amid signs of an internal split emerging about how to tackle rising inflation.The Bank’s monetary policy committee was divided on the rates decision, with Kristin Forbes voting to raise borrowing costs immediately. Other members also indicated that they could join her at future meetings if they felt inflation
  
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• Dutch election: Defeat for Geert Wilders boosts euro exchange rates

  16-03-2017 12:32 via feedproxy.google.com
  
  WITH Geert Wilders failing to win significant support in the Dutch election, the euro was able to advance against the pound and US dollar on Thursday.
  
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• Australian dollar latest: AUD holds gains amid JUMP in unemployment

  16-03-2017 12:28 via feedproxy.google.com
  
  ALTHOUGH the Australian dollar strengthened against currencies like the US dollar in the wake of the Federal Reserve’s interest rate decision, concerning Australian employment figures saw AUD exchange rates edge away from their best levels.
  
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• Pound JUMPS as Bank of England policymaker votes to IMMEDIATELY raise interest rates

  16-03-2017 12:20 via feedproxy.google.com
  
  THE pound strengthened against the euro and dollar as one of the Bank of England's key monetary policymakers voted to IMMEDIATELY raise interest rates, amid an overall hold.
  
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• City news: Lloyds Banking Group, new watchdog, Marshalls, Tinopolis

  16-03-2017 12:16 via feedproxy.google.com
  
  LLOYDS Banking Group moved closer to being fully privatised after the Government reduced its holding to below 3 per cent.
  
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• Toyota invests £240m in Derbyshire plant – but warns over Brexit tariffs

  16-03-2017 12:10 via theguardian.com
  
  Japanese carmaker to modernise Burnaston factory with the help of £21.3m from UK governmentToyota is to invest £240m into upgrading its car plant in Derbyshire in a major boost for the automotive industry after Britain’s vote to leave the EU.The Japanese carmaker will modernise the plant in Burnaston with new equipment, technology and systems with the help of £21.3m from the government. Continue reading...
  
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• City-dwellers are prone to depression – are high-rises to blame?

  16-03-2017 11:59 via theguardian.com
  
  Residents of high-rise blocks tend to suffer from more stress, mental health difficulties and neurosisProf Colin Ellard was walking past the rows of new-build towers that dominate the west of central Toronto when he had a sudden realisation. “I was struck by how dark, sombre and sad these new urban canyons made me feel,” he says. Ellard, a cognitive neuroscientist at the University of Waterloo in Canada who studies the impact of places on the brain and body, wanted to know why he fel
  
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• Sainsbury's warns over 'uncertain' impact of pound's Brexit slide

  16-03-2017 11:28 via theguardian.com
  
  Group says it plans to put more Argos outlets into supermarkets as newly acquired retailer reports strong growthSainsbury’s has warned that the impact of cost pressures from the post-Brexit vote decline in the pound remains uncertain as it reported a slight fall in sales at its supermarkets. The UK’s supermarket chains are facing higher import costs following the fall in the pound against the dollar and the euro since the June referendum, as well as some commodity price rises.Continu
  
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• UK financial firms begin moving jobs to avoid 'worst case' Brexit - Financial News (subscription)

  16-03-2017 11:25
  
  UK financial firms begin moving jobs to avoid 'worst case' Brexit
  Financial News (subscription)
  The UK government's "hemming and hawing" over what kind of Brexit deal it wants means large financial institutions are getting fed up and moving jobs out of London. This is according to the latest London Employment Monitor from headhunters at Morgan ...en meer »
  
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• Corportate takeovers set to shake and stir Britain's economy

  16-03-2017 11:20 via feedproxy.google.com
  
  BRITAIN’S “open for business” credentials are set to be tested this year as overseas predators use their burgeoning war chests to target cross-border takeover deals, a report predicts.
  
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• 'Breaking up with a co-founder is like a divorce' – Confessions of a Startup

  16-03-2017 10:54 via theguardian.com
  
  Emily Forbes loves film and working in storytelling. But setting up Seenit, a video collaboration platform, has challenged her in ways she couldn’t imagine. Not least because she has parted ways with not one but two co-foundersSubscribe and review on iTunes, Soundcloud & Mixcloud and join the discussion on Facebook and Twitter.While filming a demonstration in South Africa, Emily Forbes realised the crowd capturing it on their phones was doing her job for her. It dawned on her that the
  
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• Brexit boost: Toyota to invest £240MILLION in British plant

  16-03-2017 10:41 via feedproxy.google.com
  
  TOYOTA has signalled a vote of confidence in Brexit Britain with a £240million investment into its plant in Derby.
  
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• Paying people with learning disabilities lower wages perpetuates inequality | Rob Greig

  16-03-2017 09:47
  
  Calls to pay people with learning disabilities below the minimum wage fly in the face of the evidence – not to mention the lawWhen is one person of less value than another? According to some, when they have a learning disability and are looking for work. Rosa Monckton, businesswoman and parent of a learning disabled woman, has reignited calls for the law to be changed so that employers can pay people with learning disabilities below the minimum wage. Journalist Libby Purves then chimed in
  
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• Sainsbury's sales fall 0.5 per cent amid 'competitive' trading and pound pressures

  16-03-2017 09:21 via feedproxy.google.com
  
  SAINSBURY'S said trading remains “very competitive” and warned over ongoing price pressures from the weak pound as it saw supermarket sales slip back into reverse.
  
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• Our Rics survey missed major problems – can we get our money back?

  16-03-2017 08:00 via theguardian.com
  
  We would not have bought the house had we known about the damaged roof, dry rot and crack in the masonry Q What should we do about costly problems that were not indicated on our Royal Institution of Chartered Surveyors (Rics) homebuyer report, or in our lender’s survey?Namely, we have had to pay for a new roof, after a roofer found and photographed it in need of severe repair. The homebuyer report said it appeared in “adequate condition for its age” and gave it a green score. S
  
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• Argument with Ikea about its strange logistics come to a head

  16-03-2017 08:00 via theguardian.com
  
  All I wanted was to cancel an orderI went to Ikea’s Croydon store in December to buy a £20 shower head.I ordered it, paid for it at the check-out, then went to collections – but was told there that the order is only activated when paid for, so I had to wait 20 minutes for it to be brought out. I then found there would be a further delay.Continue reading...
  
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• Pension trick could see Britons rake in HUNDREDS of pounds EVERY MONTH if done by April 5

  16-03-2017 07:27 via feedproxy.google.com
  
  BRITONS at retirement age have been urged to boost state pension income through a valuable government offer before it is withdrawn for good on April 5.
  
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• UK climate targets 'will raise household energy bills by £100 in a decade'

  16-03-2017 07:01 via theguardian.com
  
  But cost of green policies will be more than offset by savings in energy efficiency, say climate advisers The cost of supporting new windfarms and nuclear power stations to meet the UK’s carbon targets will add nearly £100 to the average household energy bill by the end of the next decade, according to a government adviser.But the Committee on Climate Change said it expected the increase to be more than offset by savings as people switched to more efficient fridge freezers, LED bulbs
  
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• Ian and Greg Chappell call on Adani to abandon Carmichael mine project

  16-03-2017 02:46 via theguardian.com
  
  Former Australian test captains say opposition to mine in Australia could affect sporting ties with India, in letter directly appealing to Adani bossAustralian cricketing greats Ian and Greg Chappell have signed an open letter calling on Indian billionaire Gautam Adani to abandon his company’s proposed Queensland coalmine.The Chappells, well-known through their sporting exploits in India where the Australian team is currently playing, joined 90 prominent Australians in the letter, which wi
  
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• Australia's unemployment rate rises to 5.9% with 6,400 jobs lost in February

  16-03-2017 01:50 via theguardian.com
  
  The total number of Australians in work fell, against market expectations, but full-time employment rose by 27,100Australia’s unemployment rate has hit a 14-month high, rising to 5.9% in February, widely missing expectations of a flat rate of 5.7%.The total number of people with jobs fell by 6,400 last month, the Australian Bureau of Statistics said on Thursday, with the market forecasting a rise of 15,000. Continue reading...
  
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