Financial news

• How Karen Millen lost the battle for her name – and her fortune

  01-04-2017 17:00 via theguardian.com
  
  The designer who became a global brand has been declared bankrupt after years of court action and financial bad luckKaren Millen is used to seeing her name in lights. With 400 outlets spread across 65 countries, there is even a store that bears the Kent-born designer’s name in Mongolia.But last week Karen Millen, the woman, became famous all over again for the wrong reasons, after suffering the humiliation of being declared bankrupt over an unpaid tax bill. Continue reading...
  
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• Arcadia plan sees pension woe pile up for Philip Green

  01-04-2017 17:00 via theguardian.com
  
  Topshop parent group agrees to pay £50m a year into two schemes to address £1bn deficitThe pension scheme deficit at Sir Philip Green’s Arcadia Group has risen to nearly £1bn, which means another headache for the former BHS owner. Documents to be published on Sunday by MPs investigating the demise of BHS and pensions regulation, reveal that the Topshop to Dorothy Perkins group’s two pension schemes – one for senior executives, another for the rest of the staff
  
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• Location, location, location – where will Channel 4 move to?

  01-04-2017 16:59 via theguardian.com
  
  The broadcaster is reluctant to leave London, but political pressure is growing to move media jobs nationwide – and three cities are in the runningThe government’s desire to see Channel 4 move out of London has started a furious round of political and commercial lobbying over where the channel should relocate, with Manchester, Birmingham and Leeds leading the race.Karen Bradley, the culture secretary, ruled out privatising the broadcaster last week after a protracted review of its fu
  
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• British rail is nationalised all over again – by foreign states

  01-04-2017 16:59 via theguardian.com
  
  Overseas firms now provide half of all UK rail journeys. But could Brexit signal an end to overseas control?At Romford station, in the Essex centre of “taking back control”, there’s a choice of trains into London: those run by the Dutch, or those run by the Chinese. Anyone heading for nearby Basildon has to change at Upminster and pay a fare to the Italian firm that has been operating C2C since January.Welsh railways fell to German-owned Arriva long ago, while ScotRail is also
  
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• City news: DX parcel group, Shawbrook and Entertainment One

  01-04-2017 13:03 via feedproxy.google.com
  
  PARCEL group DX is looking at a merger with the distribution arm of aviation services firm John Menzies.
  
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• Financial Sanctions and New Monetary Penalties in the UK - The National Law Review

  01-04-2017 12:07
  
  Financial Sanctions and New Monetary Penalties in the UK
  The National Law Review
  The UK recently took significant steps to strengthen penalties for breaches of financial sanctions. Financial sanctions take many guises and may apply to individuals, companies or other entities. They include, for example, targeted asset freezes ...
  
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• 'I like uncluttered design': in Essex homes, the only way is modern

  01-04-2017 12:00 via theguardian.com
  
  Far from being the place that taste forgot, Essex has a radical past as the cradle of British modernism. We meet the owners of some of the county’s architectural gemsWhen it comes to the stereotyping of British counties, Essex beats them all, from Towie to fake tans, bleached blondes and brassiness. But Essex doesn’t need a makeover, only a bit of historical balance.Last year, an initiative named Radical Essex sought to do just that, by retrieving the county’s progressive past.
  
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• Pension changes: Workers warned as tax perks SLASHED after April 5

  01-04-2017 10:01 via feedproxy.google.com
  
  WORKERS drawing retirement income through pension freedoms while still saving into scheme could be hit with unexpected tax bills after a tweak to allowances comes into force from April 6.
  
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• Letter to my younger self: be kinder to yourself. You are enough

  01-04-2017 10:00 via theguardian.com
  
  When Erin Hung started her company at 25, friends called it just a hobby. This drove her to succeed, but living to prove her worth became exhausting Dear Erin,I want to take this opportunity to reassure you about something I know you are painfully unaware of right now. You are enough.Continue reading...
  
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• The ridiculous story of airline food and why so much ends up in landfill

  01-04-2017 09:00 via theguardian.com
  
  Airlines generated 5.2m tonnes of waste in 2016, most of which went to landfill or incineration – and it cost them £400mYou probably know about the waste problem in our oceans. But how about the one in our skies?Airline passengers generated 5.2m tonnes of waste in 2016, most of which went to landfill or incineration, the International Air Transport Association (IATA) estimates. That’s the weight of about 2.6m cars. And it’s a figure set to double over the next 15 years. C
  
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• Will the new 12-sided £1 ever be worth a mint? Here’s how to coin it in

  01-04-2017 08:00 via theguardian.com
  
  Some cash rattling around in piggybanks can be worth a small fortune or simply be small change. Rarity is everything and knowing exactly what to look forBrits were this week scrabbling to get their mitts on the new 12-sided £1 coin, which officially went into circulation on Tuesday. And with the Royal Mint doing a roaring trade in commemorative versions (a platinum one costing £1,325 is already sold out), and rare “trial” versions going for big money on eBay, perhaps the
  
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• There’s no dodging death – but inheritance tax relief could save £1m

  01-04-2017 08:00 via theguardian.com
  
  The new residence nil-rate band (RNRB) is for homes bequeathed to descendantsA new inheritance tax (IHT) allowance is being introduced this month, available to people who want to pass on their home to family members.Some experts have described the allowance as a boost to those who have seen their properties rise in value, but warned that people need to watch out for the “sibling tax trap”. Continue reading...
  
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• Mortgage tax relief cut doesn’t add up for buy-to-let landlords

  01-04-2017 08:00 via theguardian.com
  
  Tenants are being turfed out as tax changes beginning in April make it increasingly hard for owners to profitToday will see two of buy-to-let landlord Jamie Brewis’s tenants – a couple in their 60s – having to move out of the bungalow that has been their home for the past four or so years. They didn’t want to go, and were good tenants. But Brewis says he had no choice but to give them notice, thereby forcing them to find somewhere else to live, because of major tax change
  
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• Let’s move to Framplington, Suffolk: too good to be true

  01-04-2017 08:00 via theguardian.com
  
  A pretty town offering right-minded left-minded folk refuge from a world ruled by the orange-skinned? You couldn’t make it up…What’s going for it? When you find milled flaxseeds and chia seeds next to each other on the shelf of the local Spar, I think we can safely say we have found our nirvana, don’t you think? This is a tough time for lefties. The once impossible relentlessly becomes the norm. So where can right-minded left-minded folk go for a bit of R&R, where no
  
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• Isa rates halved since Brexit vote and eroded further by inflation

  01-04-2017 08:00 via theguardian.com
  
  Cash savers’ money is declining in real terms as interest rates and inflation head in opposite directions, say expertsTypical cash Isa rates have halved since June’s Brexit vote, it emerged this week. The average cash Isa rate stood at 0.87% at the end of May 2016, but is now 0.43%, says investment firm Hargreaves Lansdown, quoting Bank of England data.By comparison, CPI inflation has risen from 0.3% last May to 2.3% in February, and is expected to rise further this year. Continue re
  
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• How can I stop my boyfriend hoarding his loose change?

  01-04-2017 08:00 via theguardian.com
  
  He puts it all in a big bottle and never pays for parking etc. How can I explain it’s just a jar of his own money?Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.This week’s question: Continue reading...
  
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• ‘Don’t be apologetic, you’ve nothing to apologise for’ – our work expert responds

  01-04-2017 07:59 via theguardian.com
  
  Our careers expert – and you the readers – help a team leader under pressure, and someone who was unknowingly pregnant when they took a new jobI have worked as a team leader in a store for a large retail company for six years. Over the past six months the job we are expected to do is getting beyond stressful. In addition to our jobs – in my case head of several departments and taking care of deliveries and merchandising, setting up sales and refits, the daily recovery of depart
  
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• ‘Cruel’ benefit cuts put pressure on grieving families

  01-04-2017 07:59 via theguardian.com
  
  Benefits paid out when a husband or wife dies are being slashed, meaning those who do suffer such heartache will miss out on tens of thousands of pounds. Now bereaved families are speaking out.Helen Parker is struggling to put into words how she felt when her 43-year-old husband Philippe died from cancer last year. “Fear,” she says finally. “I felt fear. Knowing I was on my own, that I was solely responsible for our two sons, that every penny would count. I had no idea how I wo
  
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• Homes for £250,000 – in pictures

  01-04-2017 00:45 via theguardian.com
  
  From charming in Cambs to elegant and detached in Lincs, these properties come in under the stamp duty threshold Continue reading...
  
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