Financial news

• UK crime law will impact CI financial sector - CNS Business

  17-03-2017 22:29
  
  CNS Business
  UK crime law will impact CI financial sector
  CNS Business
  (CNS Business): A new piece of legislation currently being steered through the UK parliament could have a significant impact on the Cayman Islands. The Criminal Finances Bill, which once passed will amend the Proceeds of Crime Act, is focused on ...
  
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• Paperback fighter: sales of physical books now outperform digital titles

  17-03-2017 19:08 via theguardian.com
  
  It can be cheaper to buy the physical copy of a book than a digital download thanks to changes in Amazon’s deal with publishersAt the start of this decade publishers feared the death of the paperback. Britons abandoned bookshops at an alarming rate, seduced by e-readers and cheap digital books.Even Jeff Bezos, the Amazon founder, was shocked by the speed of readers’ defection when Kindle downloads outsold hard copies on the website for the first time in 2011. “We had high hopes
  
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• Martin Rowson on George Osborne's new role at London Evening Standard – cartoon

  17-03-2017 18:36 via theguardian.com
  
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• FTSE 100 hits another record closing high - as it happened

  17-03-2017 18:02 via theguardian.com
  
  All the day’s economic and financial news, as shares in London climb higher and finance ministers meet in GermanyLondon stock market closes at record levels againMarkets subdued after busy weekCarney warns G20 to complete financial reformsThe agenda: Eurozone data, G20 meeting5.01pm GMTBoom! The FTSE 100 has ended a busy week at a new all-time closing high.But it’s only a modest rally - the blue-chip index has finished 9 points higher at 7424 points, adding to yesterday’s recor
  
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• Former Barclays chief Bob Diamond to buy Panmure Gordon

  17-03-2017 17:57 via theguardian.com
  
  Executive stages City comeback by linking up with Qatari investment bank to acquire venerable stockbrokerBob Diamond, the former chief executive of Barclays, is staging a City comeback after agreeing to buy one of London’s oldest stockbroking firms.Diamond’s buyout vehicle, Atlas Merchant Capital, has teamed up with QInvest, the Qatari investment bank. to acquire Panmure Gordon. Continue reading...
  
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• Theresa May echoes Ed Miliband with promise to reform energy market

  17-03-2017 17:53 via theguardian.com
  
  Prime minister tells Conservative spring conference that market is not working and she is prepared to ‘step in’Theresa May’s government is preparing to intervene in Britain’s energy market to weaken the influence of the big six providers and stop the poorest families being forced on to the most expensive tariffs.In a speech that had echoes of the previous Labour leader, Ed Miliband, who promised to introduce an energy price freeze, the prime minister argued that the marke
  
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• Let’s move to Rhayader & the Elan valley, Powys: sublime natural beauty

  17-03-2017 17:30
  
  Don’t come for mod cons or fleshpots. Come for reflective quiet and red kitesWhat’s going for it? “Follow the artists”, canny home hunters always say, “they’re always a step ahead.” I beg to differ. Follow the monks. Monks, after all, were the original downshifters. Tired of the hullabaloo and poor work-pray balance of 14th-century life (and who wouldn’t be?), they had a knack of rooting out the most delightful and away-from-it-all spots on God&rsq
  
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• Gold price forecast: Values could go higher amid cautious US Fed update

  17-03-2017 17:24 via feedproxy.google.com
  
  GOLD PRICES have jumped this week - and could go higher - after the dollar weakened amid lower expectations of rapidly rising US interest rates, sad experts.
  
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• MORTGAGE RATE WAR: New 0.99 per cent deal gives boost to home buyers as market shakes up

  17-03-2017 17:05 via feedproxy.google.com
  
  MORTGAGE borrowers are set to benefit from lower repayment costs after a spate of lenders dropped mortgage rates due to increased competition for customers.
  
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• Osborne, an ‘editor of substance’. What substance, crystal meth? | Marina Hyde

  17-03-2017 16:43 via theguardian.com
  
  His ascent to the Evening Standard continues the trend of people who used to be journalists cocking up the country, and people who cocked up the country becoming journalistsWhat a privilege to be able to welcome George Osborne to the ranks of journalistic colleaguery. The former News of the World cover star and chancellor is the new editor of the London Evening Standard, a role he will combine with his jobs as MP for Tatton and being a £650,000-a-year escort for an investment fund. Osborne
  
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• French advertising giant pulls out of Google and YouTube

  17-03-2017 16:08 via theguardian.com
  
  Havas becomes first major global marketing company to pull entire ad spend after talks with tech company break downA French advertising group that has clients including O2, EDF and Royal Mail has become the first of the major global marketing companies to pull all its ad spend from Google and YouTube.Havas, the world’s sixth largest marketing services group, spends about £175m on digital advertising on behalf of clients in the UK annually. Continue reading...
  
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• Euro forecast: Europe's currency under pressure ahead of French elections

  17-03-2017 15:55 via feedproxy.google.com
  
  THE pound continued to march up against euro on Friday, as market attention turns to the looming French elections and the possibility of a Marine Le Pen victory.
  
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• Governments must keep reforming to win back voters' trust, says OECD

  17-03-2017 15:40 via theguardian.com
  
  Thinktank says progress has slowed and governments must push through change or face sluggish growth and inequalityGovernments must push through more fundamental reforms to boost growth, cut inequality and protect workers from rapid changes in technology if they are to win back the trust of voters, the west’s leading economics thinktank has warned.The Organisation for Economic Cooperation and Development says stagnating living standards in many countries have left people disenchanted and un
  
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• EU sources: May must mention UK's financial settlement in article 50 notice - The Guardian

  17-03-2017 15:26
  
  The Guardian
  EU sources: May must mention UK's financial settlement in article 50 notice
  The Guardian
  Senior figures in the European commission have noted Theresa May's public reticence about the UK's financial liabilities. Photograph: Stefan Rousseau/PA. Share on Facebook · Share on Twitter · Share via Email; View more sharing options; Share on ...
  
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• Average house price at 7.6 times annual salary, official figures show

  17-03-2017 13:45
  
  Median price paid for a home leapt 259% between 1997 and 2016 while earnings rose only 68%, say ONS affordability dataRising house prices now stand at an average 7.6 times the average annual salary, more than double the figure for 20 years ago, according to official figures.However, the new headline figure disguises dramatic regional variations. In the affluent London borough of Kensington and Chelsea, house prices are typically 38.5 times greater than annual earnings, but, 330 miles to the nort
  
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• Turkey's all-women theatre troupe – in pictures

  17-03-2017 12:59 via theguardian.com
  
  The all-women Arslankoy Theatre Group performs plays about domestic violence and education in small villages in Turkey. Tara Todras-Whitehill spent time with the players in 2013, photographing their lives on and off the stageContinue reading...
  
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• Irish banking watchdog 'has regained trust since financial crisis' - Belfast Telegraph

  17-03-2017 11:42
  
  Belfast Telegraph
  Irish banking watchdog 'has regained trust since financial crisis'
  Belfast Telegraph
  Ireland's banking watchdog has regained trust since the economic crisis, and financial firms looking for a post-Brexit home will be properly scrutinised, one of the country's top business chiefs has said. Kevin Sherry, head of the government's business ...en meer »
  
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• How can I ever work again after the trauma of whistleblowing?

  17-03-2017 11:24
  
  I felt I had no choice but to expose fraud at work, but was bullied and ignored. Now I have lost all hope in work Twice 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.Six years ago I was a whistleblower at my workplace. I worked there for three years, but from my first day I noticed daily cover-
  
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• Financial fraud costing UK £2 million a day - Finextra

  17-03-2017 11:24
  
  Financial fraud costing UK £2 million a day
  Finextra
  In 2016, the UK lost £2 million each day as a result of financial fraud, according to official figures released by Financial Fraud Action UK (FFA UK) today (16th March 2017). The figures show the overall scale of financial fraud was £768.8 million, an ...en meer »
  
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• Scotland could DITCH THE POUND: Salmond insists inependent nation could have NEW currency

  17-03-2017 11:07 via feedproxy.google.com
  
  SCOTLAND could abandon the pound and start its own new currency if it were to break from the rest of Britain, Alex Salmond has declared.
  
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• Calls for criminal inquiry into Lib Dem donor over ‘links to Rolls-Royce scandal’

  17-03-2017 10:52 via theguardian.com
  
  Sudhir Choudhrie, major party donor, and his son Bhanu were arrested in the UK in 2014 for allegedly acting as middlemen Anti-corruption campaigners have demanded a criminal investigation in India into a businessman and major Liberal Democrat donor over his alleged links to the Rolls-Royce bribery scandal.In a letter to India’s Central Bureau of Investigation, the lawyer and politician Prashant Bhushan asked that the country’s authorities launch an investigation into the role of Sudh
  
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• If big business is to thrive, it needs a strong welfare state | Phil McDuff

  17-03-2017 09:59 via theguardian.com
  
  The entrepreneurial spirit cannot flourish if people don’t feel valued, rewarded and, above all, sheltered from severe economic turbulenceUnleash the power of markets and the private sector will deliver returns that raise everyone’s living standards: that’s the market liberalism argument. However, for a decade now we have been living in a world where the opposite is true. GDP rises but wages shrink. The financial crisis was 10 years ago but austerity looks set to continue into
  
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• UK for sale? Ministers woo world's property developers in Cannes

  17-03-2017 09:32 via theguardian.com
  
  Government tells housebuilders it wants to help them find sites for thousands of new homesThe 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 build hundreds of th
  
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• A moment that changed me: refusing a place at private school | Maurice McLeod

  17-03-2017 09:00
  
  A posh old school where I knew no one or the rough comprehensive next door where all my mates went – sorry, Mum, but there was no contestIn the headmaster’s office of Emanuel school, Battersea, in 1980, I felt like my life was already spiralling away from me. I was only 10 but I knew instinctively that what happened in the next 30 minutes would be life-defining.A few weeks earlier, my mum had forced me to take the entrance exam for this ancient private school in the hope I’d ea
  
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• Sainsbury's takes inflation hit on the chin as Aldi and Lidl loom | Nils Pratley

  17-03-2017 08:30 via theguardian.com
  
  With supermarkets facing tough competition from discounters, acquiring assets such as Argos looks sound “We entered the quarter with deflation and exited the quarter with inflation,” declared Mike Coupe, chief executive of Sainsbury’s, describing shop prices in the most recent trading period. Once upon a time, this would have been taken as excellent news for shareholders, as opposed to customers. Inflationary breezes, allowing prices to be raised faster than overheads, used to
  
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• Has the tech bubble peaked? Signs that the startup boom may be fizzling

  17-03-2017 08:02 via theguardian.com
  
  Startups are beginning to run out of money and investors are becoming more discerning. How does this compare to the time leading up to the dotcom crash?If you were looking for an apartment in the Bay Area 18 months ago, realtors recommended you took your checkbook to viewings and were prepared to fork out for the deposit and first month’s rent – that’s $8,000 to $10,000 for a two-bedroom place in San Francisco – on the spot.“There was no negotiation because there we
  
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• Pierre Cardin's Bubble Palace near Cannes – in pictures

  17-03-2017 08:00
  
  Straight lines were anathema to architect Antti Lovag, and you will not find a single one in this complex of domes overlooking the Med being sold by the fashion designer Continue reading...
  
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• BT Infinity broadband claims about speed are on the line

  17-03-2017 08:00
  
  It sold me an expensive service with speeds that my line isn’t capable ofIn April 2015 I moved home and ordered BT’s Infinity Broadband. From the outset the connection was unreliable. Over the next few months I repeatedly complained to the multi-layered mirage that is customer service but was refused my request to send a technician as it claimed they were unable to diagnose online faults. In November 2016 the BT sales team suggested that my problems could be resolved by upgrading to
  
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• Downplaying Brexit to overseas investors won't help UK housing crisis | Dawn Foster

  17-03-2017 07:31 via theguardian.com
  
  At luxury property jaunt Mipim, Brits are desperate to keep money flowing into UK housing. But Brexit will still see an exodus of construction workers
  It’s that time again: La Croisette in Cannes is thronged with yachts and men in suits barking into their phones on the beach. Mipim, the world’s luxury property conference, has descended on the south of France boasting that the delegates pack away more champagne than the film festival. Last year, as I traipsed from yacht to yacht battl
  
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• Haddock from UK waters removed from sustainable seafood list

  17-03-2017 01:01
  
  MCS takes some haddock fisheries off green list – but Scottish fishermen accuse it of ‘dressing advocacy up as science’It is among the most popular fish in the UK, but haddock may soon be off the menu in some fish and chip shops because of dwindling stocks. Haddock from three North Sea and west of Scotland fisheries have been removed from the Marine Conservation Society recommended “green” list of fish to eat, after stocks fell below the acceptable levels in 2016.Co
  
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• Gig economy companies trying to have their cake and eat it, say workers

  17-03-2017 01:01 via theguardian.com
  
  CIPD says self-employed contractors are being used to to cut costs – but such people are generally satisfied with their incomeCompanies operating in the gig economy are “having their cake and eating it” by treating workers like staff while avoiding the tax and regulations on employing people on full-time contracts, according to a study.A survey of workers in the gig economy found that most believed their employers were exploiting a lack of regulation to grow quickly. Almost two
  
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• UK child poverty hits highest level since 2008 financial crisis - The Independent

  17-03-2017 00:53
  
  The Independent
  UK child poverty hits highest level since 2008 financial crisis
  The Independent
  The number of child in poverty has risen by 100,000 over the past year, new Government figures reveal. The numbers, released a week after a Budget in which the issue was not mentioned once, show 30 per cent of children are now classed as being in ...en meer »
  
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