Financial news

• UK retail sales slump 1.4% as prices climb

  21-04-2017 23:28 via feedproxy.google.com
  
  RETAIL sales suffered their biggest quarterly fall in seven years as rising prices at the checkouts and petrol pumps forced shoppers to curb their spending.
  
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• ‘Modest’ interest rate rise on cards, says Bank of England expert

  21-04-2017 21:49 via feedproxy.google.com
  
  A “MODEST” interest rate rise could be on the cards with economic growth and inflation set to be higher than forecast, according to a Bank of England expert.
  
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• Philip Hammond signals ditching of Tory 'no tax rise' pledge

  21-04-2017 20:55 via theguardian.com
  
  Labour proclaims ‘Tory tax bombshell’ as chancellor says 2015 election promise has hampered ability to bring down deficitGeneral election 2017 - live updatesPhilip Hammond has given a strong hint that the Conservatives may ditch their pledge not to raise VAT, national insurance or income tax, saying the flagship 2015 policy had constrained his ability to manage the economy.The chancellor, who was recently forced to drop an attempt to raise national insurance for the self-employed, su
  
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• Growth in unpaid full-time internships raises fears for social mobility

  21-04-2017 20:28 via theguardian.com
  
  With unpaid roles for up to a year being openly advertised, critics claim that only the privileged can afford to accept themWanted: an undergraduate to take a full-time position with a major international fashion retailer. The job will last for a year. The pay? Zero.This fantastic opportunity, available only to those with independent means, wealthy parents and access to free accommodation, was advertised this week by US-based fashion chain Urban Outfitters. Continue reading...
  
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• Lloyds bank bailout repaid in full, says Philip Hammond

  21-04-2017 19:00 via theguardian.com
  
  UK chancellor says taxpayer has now recovered every penny of the £20.3bn bailout of 2008 with its one-time stake of 43% very soon to fall to zeroThe government has recouped the £20.3bn it ploughed into Lloyds Banking Group during the financial crisis, the chancellor has said.Just days after admitting that the taxpayer faced multibillion-pound losses on its stake in Royal Bank of Scotland, Philip Hammond said the government had now “recovered every penny of its investment in Llo
  
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• Dortmund attack: man arrested on suspicion of share-dealing plot

  21-04-2017 18:36 via theguardian.com
  
  Police believe 28-year-old German-Russian national attacked bus in hope of profiting from consequent fall in club’s stock
  After the explosives attack on the Borussia Dortmund football team, police followed leads pointing to radical Islam, far-right hooligans and leftwing activists.In the end, their investigations led them to an entirely new category of extremism: terror fuelled by financial greed. Continue reading...
  
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• Unicorn Frappuccino mania: Starbucks aims at Instagram

  21-04-2017 17:45 via theguardian.com
  
  Coffee chain enhances profile with selfie-friendly Unicorn Frappuccino. It tastes awful, say some – but looks great on social mediaIf it feels like your social media feeds have been doused with pink and blue syrup, you’re not alone.The Starbucks Unicorn Frappuccino, a sickly-sweet limited-edition drink released this week and for this week only, has been a viral hit. Search #unicornfrappuccino on Instagram and you’ll be met with more than 100,000 images – and those are jus
  
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• Sports Direct's £78m move into US retail stuns analysts

  21-04-2017 17:41 via theguardian.com
  
  Troubled chain’s purchase of 50 stores from Eastern Outfitters draws fire from pundits who say foray is badly timed distraction from domestic woesSports Direct has drawn fire from analysts after it entered the US market by buying two loss-making chains for $101m (£78m). The retailer said on Friday it had received approval from Delaware bankruptcy court to buy 50 stores trading as Bob’s Stores and Eastern Mountain Sports through the bankruptcy process of Eastern Outfitters, the
  
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• Volkswagen to pay $2.8bn for cheating on US diesel emissions tests

  21-04-2017 17:38 via theguardian.com
  
  Judge issues order to follow deal with justice department after VW admits 600,000 cars were programmed to turn on pollution controls during testingVolkswagen has been ordered to pay a $2.8bn criminal penalty in the United States for cheating on diesel emissions tests. Related: How conniving carmakers caused the diesel air pollution crisisContinue reading...
  
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• Let’s move to the Isle of Portland, Dorset: ‘It has its fair share of oddity’

  21-04-2017 17:30 via theguardian.com
  
  There’s a peculiar air to this rock at the end of Chesil Beach, best known for the stone used in buildings all over the worldWhat’s going for it? You come across bits of Portland in the most unlikely of places. Like the UN headquarters in Manhattan, St Paul’s Cathedral or the bank on my high street. Portland stone, prized for its searing whiteness, has been used for centuries to build the most illustrious of architecture. Half of London is covered in it. Which, if you follow th
  
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• US dollar News: Pound softens against USD despite American manufacturing slowdown

  21-04-2017 17:27 via feedproxy.google.com
  
  THE pound trended slightly lower against the US dollar today following the release of disappointing British retail sales figures for March.
  
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• BIG CAR STING: Drivers hit as petrol station prices SHOOT UP

  21-04-2017 17:19 via feedproxy.google.com
  
  PETROL station prices shot up by 16.4 per cent last year it has been revealed.
  
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• Protectionism is rising the world over. Our best defense is fighting inequality | Wally Adeyemo

  21-04-2017 16:30 via theguardian.com
  
  When the IMF and World Bank meet this week, they must work to restore faith in globalization – or risk that it falls prey to isolationistsGlobalization and the international rules-based order that underpins it are under siege. Bunkering down and hoping the flames of populism burn out as economic growth picks up is not a winning strategy. The crisis of confidence in the benefits of globalization and multilateralism likely will persist as long as rates of social and economic inequality remai
  
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• UK bank accounts of Iranian customers still being closed, says law firm

  21-04-2017 16:25 via theguardian.com
  
  Firm says closures continue despite lifting of sanctions after Iran nuclear deal and have continued since Trump’s inaugurationA UK law firm handling more than 60 complaints by Iranian nationals who have had their UK bank accounts closed allegedly because of their nationality has reported a continuation in such closures since Donald Trump assumed office. Iranian nationals living legally in the UK often have to go to extra lengths when opening a bank account and many who already with one hav
  
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• Electric flying car that takes off vertically could be future of transport

  21-04-2017 15:55 via theguardian.com
  
  German company Lilium beats Google and Uber to successfully test a VTOL jet that could be used as a city taxiThe once fanciful concept of flying cars appears to be a step closer to reality, after a German company completed successful test flights of a “flying taxi”. Munich-based Lilium, backed by investors who include Skype co-founder Niklas Zennström, said the planned five-seater jet, which will be capable of vertical take-off and landing, could be used for urban air-taxi and r
  
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• 'Vijay Mallya can't avoid the law': Herts villagers on 'fugitive' billionaire neighbour

  21-04-2017 15:43 via theguardian.com
  
  Residents of sleepy English village of Tewin give verdict on Kingfisher Airlines tycoon, wanted in India to face allegations of fraudVijay Mallya, the multimillionaire co-owner of the Force India Formula One team and self-proclaimed “King of the Good Times”, does not appear to be preparing for his possible extradition to India to face a fraud trial on allegations over £1bn of unpaid debts.Landscape gardeners were this week laying a truckload of fresh turf in the grounds of his
  
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• UK bank launches cheapest ever mortgage rate at 0.89% but there's a MAJOR catch

  21-04-2017 15:39 via feedproxy.google.com
  
  HOMEBUYERS are being offered their lowest ever mortgage rate in Britain at an astonishingly cheap 0.89 per cent.
  
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• UK retail sales fall at fastest rate in seven years as inflation bites - as it happened

  21-04-2017 15:14 via theguardian.com
  
  Retail sales fell by 1.4% during the first three months of 2017 as shoppers were put off by rising prices. It was the biggest quarterly fall in sales since 2010.UK growth expected to slow to 0.4% in Q1French PMIs: strong growth signalled in AprilFrench shares fall, euro slips from three-week high as vote loomsEurozone surveys indicated stronger growth in Q2 2.14pm BSTWall Street is expected to open slightly higher:
  US Opening Calls:#DOW 20604 +0.11%#SPX 2358 +0.08%#NASDAQ 5451 +0.17%#IGOpeningCa
  
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• UK retail surge since Brexit vote comes to an end

  21-04-2017 15:11 via theguardian.com
  
  Sales fell 1.4% in first three months of 2017, says ONS – biggest quarterly fall since 2010The strong recovery on Britain’s high streets after last year’s Brexit vote appears to be over, with retail sales figures for the first quarter showing the biggest drop in purchases in the last seven years.The Office for National Statistics said UK retail sales fell 1.4% in the first three months of 2017, the biggest quarterly fall since 2010. Continue reading...
  
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• Pound Sterling: GBP drops on consumer figures as Bank of England hints of rates rise

  21-04-2017 14:32 via feedproxy.google.com
  
  BRITISH consumer spending figures have not led to a pound pummelling today but the currency has been slightly hit by below-expectation data from the UK economy.
  
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• SHOCK PENSION WARNING: Six out of ten over 55s woefully under-educated, says report

  21-04-2017 12:18 via feedproxy.google.com
  
  SIX out of ten Britons over the age of 55 are not getting proper retirement advice, it has been claimed.
  
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• 'There is no British exodus' Spanish anger over Brexit claims

  21-04-2017 11:48 via feedproxy.google.com
  
  SPANISH business leaders have blasted claims Britons are leaving Spain in their tens of thousands because of Brexit.
  
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• Which? survey reveals best and worst UK broadband providers

  21-04-2017 08:00 via theguardian.com
  
  BT, TalkTalk, Sky and EE score poorly for speed and reliability, with small firm Zen Internet named best supplierThe biggest broadband providers are failing on basic customer service, speed and reliability – with TalkTalk and BT named as the worst suppliers – according to a survey by consumer group Which?TalkTalk, BT, Sky and EE – which collectively have a 72% share of the market – all scored poorly in the broadband customer satisfaction survey. The small provider Zen Int
  
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• Is it worth using a CV writing service when applying for jobs?

  21-04-2017 08:00 via theguardian.com
  
  My résumé often doesn’t reflect my varied experience and skills, as writing is not my strong point
  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.I’ve been working for the same organisation for seven years, slowly progressing with a number of promotions and increa
  
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• How can I bring back some joy to my lunches for under £2.50 a day?

  21-04-2017 08:00 via theguardian.com
  
  My work canteen closed and I’ve had to eat ham sandwiches every day for a month – now I need quick and healthy recipe ideasEvery 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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• A former water pumping station – in pictures

  21-04-2017 08:00 via theguardian.com
  
  Go with the flow and renovate this piece of Cornish historyContinue reading...
  
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• Yorkshire Building Society launches record low UK mortgage rate

  21-04-2017 01:01 via theguardian.com
  
  Deal priced at 0.89% for two years suggests competition in home loan market may be hotting up as new lenders joinBritain’s lowest-ever mortgage rate has been launched, priced at 0.89% for two years.There were predictions a few months ago that the era of record-low mortgages may be coming to an end, but the new move by the Yorkshire Building Society suggests that, if anything, competition in the home loans market may be intensifying. The previous lowest rate was 0.98%. Continue reading...
  
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• Pound latest: GBP holding multi-month high against the euro despite retail sales slump

  21-04-2017 01:00 via feedproxy.google.com
  
  THERESA May levelled a hefty kick at the pound on Tuesday and sent the currency careening higher.
  
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• Card spending online jumps to £422m a day

  21-04-2017 01:00 via feedproxy.google.com
  
  INTERNET spending has leapt by more than a quarter in the last two years, figures show.
  
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