Financial news

• Post-Brexit-vote surge for UK economy comes to an end

  07-04-2017 18:34 via theguardian.com
  
  Weakening retail sales as inflation raises price of imports allied with lower industrial output point to the UK economy ‘dropping down a gear’Worries that the UK economy is losing steam have been strengthened by news of a housing market slowdown, a drop in industrial output and the weakest performance for a year by the construction industry.Economists on Friday said there was growing evidence that the UK economy slipped down a gear as it entered the new year, following a strong finis
  
  Read more

• Brexit raises spectre of dearer Guinness and Baileys

  07-04-2017 18:10 via theguardian.com
  
  Extra costs and complexity of trade highlighted by Diageo drinks crossing Irish border many times during production processCans of Guinness could be an unexpected casualty of Brexit if a new customs border or tariffs are introduced between the Republic and Northern Ireland when the UK leaves the European Union, it has emerged.Guinness is one of Ireland’s most famous exports but Brexit will have a direct impact on its production as the black stuff crosses the Irish border twice before being
  
  Read more

• Rupert Murdoch's Sky takeover approved by European regulator

  07-04-2017 18:07 via theguardian.com
  
  European commission says £11.7bn bid raises no competition issues, despite fears over Murdoch’s power in UK news mediaRupert Murdoch’s £11.7bn bid to take full control of Sky has been cleared by the European competition regulator.The European commission, which has been investigating 21st Century Fox’s takeover bid since early March, has given the deal “unconditional approval”. Continue reading...
  
  Read more

• Lifetime ISA providers: Which banks offer a Lifetime ISA?

  07-04-2017 17:51 via feedproxy.google.com
  
  LIFETIME ISAs offer young first-time buyers the chance to save up money for their dream home. Here is a list of the providers offering the new saving accounts.
  
  Read more

• Advertisement

• Race against time to save Greece as German finance minister lays into IMF

  07-04-2017 17:40 via feedproxy.google.com
  
  GREECE and its creditors are racing to finalise an agreement on economic reforms so that Athens can receive crucial bailout cash in time for a looming debt repayment.
  
  Read more

• Google to display fact-checking labels to show if news is true or false

  07-04-2017 17:37 via theguardian.com
  
  In its ongoing bid to combat fake news, Google follows Facebook in announcing new technology to help curb spread of misinformationGoogle is to start displaying fact-checking labels in its search results to highlight news and information that has been vetted and show whether it is considered to be true or false, as part of its efforts to help combat the spread of misinformation and fake news.The fact-checking feature, which was first introduced to Google News in the UK and US in October, will now
  
  Read more

• Let’s move to Kirkcaldy, Fife: a beautiful bay and an excellent farmers’ market

  07-04-2017 17:30 via theguardian.com
  
  This should be boom time for Adam Smith’s home town. However…What’s going for it? Were Adam Smith to be reincarnated here in his home town (as a till-worker at Lidl, perhaps) he might come to different conclusions about the free market. The wealth of nations is in short supply in Kirkcaldy today: the hidden hand of capitalism is hidden indeed and the trickle-down of good fortune to those in need is more of a dribble. Kirkcaldy has not had a good half-century or so. Its raisons
  
  Read more

• Jaeger going out of fashion puts 700 jobs at risk

  07-04-2017 17:01 via theguardian.com
  
  Clothing brand that once dressed Audrey Hepburn could go into administration next week after failing to find a buyerThe struggling fashion brand Jaeger could call in the administrators as early as next week, putting 700 high street jobs at risk.In its heyday, Jaeger dressed Audrey Hepburn and Marilyn Monroe, but in recent years it has struggled to stay relevant on a competitive high street. The retailer confirmed on Friday that it had filed a notice of intention to appoint administrators –
  
  Read more

• Advertisement

• Turkish lira news: Pound GAINS against TRY as tensions rise after Dutch travel ban

  07-04-2017 16:49 via feedproxy.google.com
  
  THE pound strengthened against the Turkish lira today as investors became increasingly concerned about the political situation in Turkey after the government blocked around 100 Dutch citizens from leaving the country.
  
  Read more

• My week as an Uber courier: my bike got stolen, but I kept my five-star rating

  07-04-2017 16:47 via theguardian.com
  
  Delivering everything from books to falafel sandwiches was easy, but excessive periods of downtime make the prospect of earning a consistent living grimNicholas pads down the stairs of his apartment building on Broome Street in New York’s Soho neighbourhood – where the cheapest two-bedroom unit costs more than $2m – in his boxers and a T-shirt to meet me on a Saturday afternoon. The twentysomething hands me two books and asks for them to be delivered to his friend’s place
  
  Read more

• Holiday prices in and out of school term-time – how big is the difference?

  07-04-2017 15:57 via theguardian.com
  
  The UK supreme court this week ruled against a father who took his daughter out of school to go on holiday. A look at how much prices change when schools break up shows why parents are tempted to do the sameThe travel companies behind all those adverts full of smiley, suntanned parents and children playing happily on beaches want you to believe that family holidays are priceless. But, as most families with school-age children are already all too aware, sun, sea and sand cost more in the summer.
  
  Read more

• US jobs growth much worse than expected; Greece and EU creditors agree deal - as it happened

  07-04-2017 15:50 via theguardian.com
  
  Eurogroup and Greece agree reformsUK trade and industrial production figures disappointUK house price growth slowsChina ready to work with TrumpEurogroup hopeful of Greece progressEuropean markets open lower 2.50pm BSTWith a combination of the US attack on Syria and much weaker than expected jobs numbers for March, it is no surprise that Wall Street has got off to a cautious start.But there is no real panic selling, and after an initial dip the Dow Jones Industrial Average is now just about in p
  
  Read more

• US gained only 98,000 jobs in March, putting a chill on Trump's promises

  07-04-2017 14:54 via theguardian.com
  
  Government hiring freeze and faltering retail sector led to a disappointing month following February report, which Trump seized upon as proof he’s boosted hiringThe US economy added just 98,000 jobs in March as a cold snap, a government hiring freeze and a faltering retail sector appear to have put the chill on Donald Trump’s promise to boost hiring.The jobs market had got off to a flying start in 2017, adding an average of 236,500 jobs a month. February’s jobs report was the f
  
  Read more

• Bank of England orders financial firms to draft Brexit contingency plans

  07-04-2017 14:28 via theguardian.com
  
  Mark Carney sets 14 July deadline to see plans, saying firms must prepare for ‘all eventualities’ as he calls on politicians not to cut City adrift from Europe The Bank of England has given financial firms a deadline of 14 July to explain how they are planning for the UK’s departure from the EU and warned them to be ready for all possible outcomes, including a hard Brexit.The Bank wrote to hundreds of banks, insurers and other financial firms on Friday ordering them to get cont
  
  Read more

• WARNING: Free bank accounts to END, warns IMF in yet ANOTHER blow to hard-working Britons

  07-04-2017 14:15 via feedproxy.google.com
  
  BRITONS face paying for current accounts in the future, as pressured banks become more desperate for profits, the International Monetary Fund has warned.
  
  Read more

• Bank of England asks UK financial firms to submit Brexit plans by July - MarketWatch

  07-04-2017 13:52
  
  MarketWatch
  Bank of England asks UK financial firms to submit Brexit plans by July
  MarketWatch
  The Bank of England has written to U.K. financial services firms that conduct activities in the EU — including U.S. investment banks with a London subsidiary — asking them to submit a snapshot of their plans for Brexit by mid-July. In a letter today ...
  BoE's Carney says not seeking stand-alone UK-EU financial services dealBusiness Insideralle 111 nieuwsartikelen »
  
  Read more

• Bold business stunts: from hiring a donkey to hacking the news

  07-04-2017 13:00 via theguardian.com
  
  Entrepreneurs must sometimes be creative to beat the competition. We speak to four who found that tenacity pays offWhen Jane ni Dhulchaointigh invented Sugru, a mouldable glue, back in 2009 she set high expectations. “Our dream for Sugru is that it becomes something like Sellotape or Blu-Tack, which is in everyone’s kitchen drawer,” she says. With this in mind, ni Dhulchaointigh knew she had to quickly build Sugru’s profile. When the brand scored B&Q as a stockist in
  
  Read more

• Competition watchdog to examine warranties for new homes

  07-04-2017 12:50 via theguardian.com
  
  CMA’s review of NHBC comes amid concerns over lack of protection for homebuyersThe Competition and Markets Authority is examining payments between housebuilders and the providers of warranties for new homes as part of a review of NHBC, the largest warranty provider.The CMA announced last month it was reviewing undertakings made by NHBC, the standard-setting body for new-build properties in the UK and the main warranty provider. These 22-year-old undertakings were designed to improve compet
  
  Read more

• Pound falls against euro, as Carney demands global firms share plans for Brexit

  07-04-2017 12:28 via feedproxy.google.com
  
  THE pound has dropped against the euro, as Mark Carney confirmed the Bank of England has demanded financial firms share Brexit plans.
  
  Read more

• Kenya's third biggest killer, cancer – in pictures

  07-04-2017 12:18 via theguardian.com
  
  Cancer is the third highest cause of death in Kenya and often those who suffer from it cannot afford treatment. On World Health Day, Georgina Goodwin’s photography tells the stories of six patientsContinue reading...
  
  Read more

• House price growth hits lowest level since 2013 – but here’s why crash looks unlikely

  07-04-2017 11:51 via feedproxy.google.com
  
  HOUSE price growth has dropped to its lowest level in almost four years last month as affordability starts to cap values.
  
  Read more

• Oil prices JUMP after Donald Trump launches Syria missile strikes

  07-04-2017 11:42 via feedproxy.google.com
  
  OIL prices have today surged after Donald Trump's ordered US air strikes on an airbase in Syria.
  
  Read more

• US dollar V Rouble: USD gains as Russia condemns US air strike on Syria

  07-04-2017 11:03 via feedproxy.google.com
  
  AS TENSIONS between Russia and the US escalate, the US dollar is set to end the week higher against the Russian Rouble.
  
  Read more

• Lloyds expects payouts to HBOS fraud victims to total £100m

  07-04-2017 10:16 via theguardian.com
  
  Businesses were left bankrupt and owners lost homes after former HBOS manager’s £245m loans scamLloyds Banking Group expects compensation payouts for victims of fraud at the hands of former HBOS staff to total around £100m. The lender said that it will pay compensation for “economic losses, distress and inconvenience” as part of a package of measures to assist victims. Continue reading...
  
  Read more

• Self-driving cars will only work when we accept autonomy is a myth

  07-04-2017 10:00 via theguardian.com
  
  The ability of autonomous vehicles to navigate our cities is impressive. But their potential will only be realised when these cars are interdependentThe crash of an Uber Volvo in Tempe, Arizona has dragged a regulatory spotlight back onto self-driving cars. The Uber car, in driverless mode, ended up on its side after being shunted by a Honda that was turning left. Such incidents bring the hype surrounding automotive autonomy bouncing back to earth. But they also remind us of the need for smart r
  
  Read more

• Immigrant investor program under fresh scrutiny as Chinese president visits US

  07-04-2017 10:00 via theguardian.com
  
  FBI raided Chinese-focused cash-for-residency scheme linked to EB-5 visa that has been used by developers such as Jared Kushner before Trump met Xi JinpingThe timing could not have been worse – or better depending on whose side you are on. On Wednesday, the day before Donald Trump met Chinese president Xi Jinping at Trump’s Florida Mar-a-Lago estate, law enforcement swooped on a Chinese-focused cash-for-residency scheme that highlights a controversial business investment used by the
  
  Read more

• Businesses won’t address the gender pay gap until they are forced to | Harriet Minter

  07-04-2017 10:00 via theguardian.com
  
  The new law hopes to coax companies into eradicating inequality. But only real threats - such as fines - will deliver equal pay for womenHas someone asked you your salary today? No? How strange. After all, as of Thursday the traditional reticence around discussing money and the secrecy over what we’re all paid should have ended. The government requirement that all companies with more than 250 employees publish their salary data, showing the average pay for men and women, has finally come i
  
  Read more

• Mothercare to raise prices after pound's Brexit slide

  07-04-2017 08:45 via theguardian.com
  
  Childrenswear and maternity retailer says it plans to increase price of clothing and toys by up to 5% this summerMothercare’s chief executive has said the price of its clothing and toys would increase by 3% to 5% this summer following the decline in the value of the pound since the Brexit vote.Mark Newton Jones said the childrenswear and maternity specialist had limited price rises by striking better deals with suppliers, but with half its goods bought in dollars the retailer was not able
  
  Read more

• We saved our ailing local pub – now it's the heart of the community

  07-04-2017 08:42 via theguardian.com
  
  The Bevy in Brighton is the UK’s first co-operative pub on a housing estate – we are proof that communities can turn things aroundWhen word got out that local residents wanted to re-open the Bevendean Pub in Brighton, we received an email from a local copper. Let’s just say he wasn’t taken with the idea. The pub had slowly gone downhill over the years, until the police decided they’d enough and closed it down in 2010 following a string of brawls and anti-social beha
  
  Read more

• Co-op boss shrugs off £130m loss to focus on group's 'stellar progress'

  07-04-2017 08:39 via theguardian.com
  
  Troubled mutual dragged into red for first time since 2013 after it writes down value of its stake in Co-op Bank to nilThe Co-operative Group’s chairman, Allan Leighton, has insisted the business was making “stellar progress” despite slumping more than £130m into the red.The mutual revealed its first losses since its tumultuous year in 2013 – when problems at the Co-operative Bank nearly sank the whole business – as it wrote down the value of its remaining 20%
  
  Read more

• Unilever bins Flora – but butters up its shareholders | Nils Pratley

  07-04-2017 08:18 via theguardian.com
  
  The consumer brand giant’s decision to dump its tired spreads business is just one way of easing investor angst after the messy Kraft Heinz raidComplacent? Us? Try a €5bn share buyback, a 12% better dividend, deeper cost savings and a firm target for profit margins in 2020. And, by the way, we’ll wave goodbye to Flora and I Can’t Believe It’s Not Butter, just like you always wanted. Happy now?Unilever’s shareholders – even those who mystifyingly wanted to
  
  Read more

• My boss thinks it was me, not my colleague, who complained to HR – what to do?

  07-04-2017 08:00 via theguardian.com
  
  I know who the feedback to HR is from but haven’t told my manager, who is making my life unbearable I recently started a well paid and interesting new job. Shortly after joining, one of the team provided highly critical feedback about our manager to HR anonymously. My manager thinks it was me (because I am new) and is making my life unbearable. I know who the feedback is from but haven’t told them. The HR department has said it doesn’t want to betray the confidence that was put
  
  Read more

• Corkscrew thinking won the war. Here's how to use it in business

  07-04-2017 08:00 via theguardian.com
  
  To mark Winston Churchill Day on 9 April, we celebrate the thinking that helped allied forces win the second world warDuring the second world war Winston Churchill declared a need for corkscrew thinkers – people with the ability to break away from the traditional linear way of thinking.Without these individuals, Churchill believed that neither side would win the war because everyone was thinking in the same way: the enemy’s next move would always be predictable.Continue reading...
  
  Read more

• Answerphone hackers rack up £5,000 in calls – all charged to us

  07-04-2017 08:00 via theguardian.com
  
  After criminals hijacked our phone to route calls abroad, our insurer and system operator both refused to pay outI work for a small charity in Benwell, Newcastle, where we have been the victim of phone system hacking that has resulted in a bill of almost £5,000 over a four-day period. We have been informed by our phone system supplier, Chaser Communications, that the hackers gained remote access to our phone system via our answering machine, and were somehow able to route calls to Syria at
  
  Read more

• A towering renovation project – in pictures

  07-04-2017 08:00 via theguardian.com
  
  This listed water tower needs a brave buyer in Norfolk to bathe it in glory, with planning permission to convert into a four-storey home Continue reading...
  
  Read more

• The Tories are failing the poorest through benefit cuts - by choice | Dawn Foster

  07-04-2017 07:50 via theguardian.com
  
  If the government truly wants to reduce expenditure on housing benefit it should tackle the root causes, not force young people and families from their homes
  “The government is trying to take away housing allowances from 18- to 21-year-olds. Seriously man. No one should be homeless, it’s fucking bullshit,” Idris Elba told an 850-strong crowd at a fundraising gig for Shelter in London. Elba is right, it is cruel, ill-thought out, and likely to endanger the lives and future of th
  
  Read more

• Belle Gibson hit with $30,000 in court costs over false cancer claims

  07-04-2017 07:13 via theguardian.com
  
  Disgraced wellness blogger who claimed she had brain cancer and healed it with natural remedies, prohibited from making deceptive claims about her healthDisgraced health blogger Belle Gibson has to pay $30,000 towards the legal costs of Consumer Affairs Victoria and has been banned from making deceptive claims about her health in connection with wellbeing advice.Federal court justice Debra Mortimer made the orders on Friday against Annabelle Natalie Gibson, who claimed she had brain cancer and h
  
  Read more

• Germany needs to harm its OWN economy to save euro, top economist claims

  07-04-2017 06:38 via feedproxy.google.com
  
  GERMANY must damage its own economy if it truly wants to save the euro from collapsing, a top Greek economist has stated.
  
  Read more

• £100MILLION - that's how much Lloyds expects to pay out in fraud compensation

  07-04-2017 01:00 via feedproxy.google.com
  
  LLOYDS Banking Group expects compensation payouts for victims of fraud at the hands of former HBOS staff to total around £100 million.
  
  Read more

• Laura Ashley boss to pay ex-wife divorce settlement of £64m

  07-04-2017 00:24 via theguardian.com
  
  Khoo Kay Peng and Pauline Chai were involved in long-running divorce row following split after 42 years of marriageThe 78-year-old boss of Laura Ashley has been ordered to pay his ex-wife £64m to settle their long-running divorce row.Pauline Chai, who was crowned Miss Malaysia in 1969, was seeking £100m from Khoo Kay Peng following their split after 42 years of marriage. She claimed their assets were worth at least £205m. Continue reading...
  
  Read more

Follow @financialnwsUK on Twitter!