Financial news

• Brussels warned stripping London of euro clearing could cost investors £77BILLION

  22-05-2017 23:26 via feedproxy.google.com
  
  THE boss of London’s stock market has issued a stark warning to Europe that moving euro clearing away from London after Brexit could backfire - and could cost investors a hefty €100billion .
  
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• RBS could rob us of the chance to see Fred Goodwin grilled in court | Nils Pratley

  22-05-2017 20:57
  
  The case would give valuable insight into the biggest failure in UK banking history – but now the bank is attempting to settleWhat spoilsports they are at Royal Bank of Scotland. We’ve waited years to hear again from Fred Goodwin and Sir Tom McKillop, chief executive and chairman of the bank when it sank in 2008. Now the board wants to kill the legal case that could see the duo, plus two other former directors, cross-examined in court.RBS’s attempt to settle with the 9,000 shar
  
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• Big energy firms lobby Theresa May to water down price cap pledge

  22-05-2017 20:57
  
  Electricity and gas suppliers push for compromise that would see price caps for 6m rather than 17m householdsEnergy companies are lobbying the Conservative party to water down its policy of a price cap on bills, with proposals that would protect millions fewer UK households from tariff rises.Theresa May has promised to cap electricity and gas costs for 17 million families on default energy deals, called standard variable tariffs, after five of the big six suppliers increased prices. But under a
  
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• LEASEHOLDER heavily penalised after honest payment slip

  22-05-2017 20:54 via feedproxy.google.com
  
  A SMALL misunderstanding on dates led to a leaseholder being hammered with hundreds of pounds of late payment penalties by his block’s managing agent.
  
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• Ford names Jim Hackett as new CEO in push to build self-driving cars

  22-05-2017 19:12
  
  Carmaker confirms boss of its driverless cars division will take helm as Mark Fields exits after just under three yearsFord has named the head of its driverless cars division as its chief executive in a sudden regime change, as the company that pioneered the assembly line looks to the next stage of the industry’s evolution. The Detroit-based carmaker said Mark Fields, who has run the company since July 2014, was retiring with immediate effect amid an overhaul of senior management. Continue
  
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• RBS offers £200m to avert court case brought by 9,000 investors

  22-05-2017 18:55
  
  Bank attempts to settle high-profile lawsuit in which former chief executive Fred Goodwin would give evidence• RBS crisis: how did the bank get to here?Royal Bank of Scotland is racing to avert a high-profile court case by offering £200m in compensation to thousands of investors who claim they were misled into buying the bank’s shares in the run-up to its taxpayer bailout. Round-the-clock discussions are under way to reach a deal that would prevent the case being heard in London
  
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• Pound wobbles after Tory social care U-turn, as Greek debt talks begin – as it happened

  22-05-2017 18:43
  
  Greek debt decision could be deferred - Ireland’s NoonanSterling falls below $1.30 as Tory election lead narrowsIntroduction: Eurogroup meeting on Greece today
  NEWSFLASH: RBS offers last-minute deal to irate shareholdersStay informed with our new email 5.43pm BSTA dip in the pound following the U-turn on social care from the Conservatives has helped lift the FTSE 100, packed as it is with overseas earners who benefit from a weaker sterling. Meanwhile the FTSE 250 hit a record closing high
  
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• Bitcoin hits record high: 10,000 pieces of cryptocurrency in 2010 now worth £15million

  22-05-2017 17:44 via feedproxy.google.com
  
  BITCOIN has hit a record high seven years after what is thought to be the first ever transaction using the crypto currency.
  
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• Germany hits out: Angela Merkel says euro is too weak and BLAMES European Central Bank

  22-05-2017 17:35 via feedproxy.google.com
  
  GERMAN Chancellor Angela Merkel has said the weak euro is the fault of the European Central Bank's policies.
  
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• Macron's win: What are the financial implications for the UK? – The ... - The Upcoming

  22-05-2017 16:24
  
  The Upcoming
  Macron's win: What are the financial implications for the UK? – The ...
  The Upcoming
  The recent election in France has been a relatively hot topic in the UK. With Theresa May and her government's Brexit negotiations, it was clear to UK voters that ...en meer »
  
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• Pound v US dollar: Political concerns dominate exchange rate after May manifesto U-turn

  22-05-2017 16:22 via feedproxy.google.com
  
  A QUIET day for data has left political concerns at the forefront of pound and US dollar exchange rate movement, with the pairing down -0.2 per cent at $1.3003.
  
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• Saudi Arabia to cut off oil supply to create shortage in desperate bid to raise prices

  22-05-2017 15:58 via feedproxy.google.com
  
  SAUDI Arabia is looking to cut off its oil supply in a desperate bid to raise prices and boost its slowing economy.
  
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• The RBS crisis: a timeline of events

  22-05-2017 15:04
  
  From the bank’s ill-fated 2007 takeover of ABN Amro to the exit of Fred Goodwin and shareholders’ £520m lawsuit Royal Bank of Scotland’s problems date back to the £49bn record-breaking takeover of Dutch bank ABN Amro in 2007. In April 2008, RBS tried to boost its finances through a £12bn cash call but this was not enough to prevent it needing a £45bn taxpayer bailout six months later. Since its rescue by the government, RBS has not made a profit and admi
  
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• German ministers clash over Greece debt as crisis cracks Angela Merkel's government

  22-05-2017 12:17 via feedproxy.google.com
  
  GERMANY'S top ministers are publicly disagreeing over Greece's debt crisis, as cracks widen through the heart of Angela Merkel's government.
  
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• Wealth redistribution and population management are the only logical way forward | William E Rees

  22-05-2017 11:30
  
  Globalisation and trade have enabled too many countries to overshoot their capacities and run ‘ecological deficits’ with other nationsTechno-industrial society is in dangerous ecological overshoot – the human ecological footprint is at least 60% larger than the planet can support sustainably. The global economy is using even renewable and replenishable resources faster than ecosystems can regenerate, filling waste sinks beyond nature’s capacity to assimilate. (Even climat
  
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• Could citizens’ wealth funds halt the dominance of the financial elite?

  22-05-2017 10:00
  
  The Conservative manifesto pledges to create ‘Future Britain’ wealth funds, and a shale gas fund is under discussion at the Treasury. Is the UK finally waking up to the opportunity such schemes offer for tackling inequality?
  Tucked away in the Conservative Party manifesto, and largely unremarked, is a promise to create a number of UK sovereign wealth funds, to be called “Future Britain Funds”.This builds on last year’s proposal in a Treasury Consultation Paper to cr
  
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• POUND LIVE: Sterling plunge as Tory's drop in polls ahead of Election

  22-05-2017 09:23 via feedproxy.google.com
  
  THE pound has taken a dramatic tumble against both the euro and the dollar after a series of polls over the weekend showed the Conservatives have lost their huge lead in the polls against Labour, ahead of the general election next month.
  
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• Reeling from a failure? Perhaps an attitude change could help

  22-05-2017 08:00
  
  Whether it’s learning a new skill or responding to criticism, a growth mindset can help you succeed in business When Bill Gates is mentioned you probably picture him as Microsoft’s philanthropic, billionaire co-founder. But there is another side to the story: before he became the world’s richest person Gates was a struggling entrepreneur. His first business, Traf-O-Data (a technology company aimed at minimising traffic congestion) failed to become a big success. But rather than
  
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• I’m innocent, so how can I park this fine back with Aldi?

  22-05-2017 08:00
  
  ParkingEye has fined me £70 when I wasn’t even there. But I can’t prove itPlease help me prove my innocence over two separate visits to a supermarket on the same day, as I have been fined for overstaying.I drove to my local Aldi store twice – once before work and then at lunchtime – and stayed only briefly each time. I paid in cash as both trips were for a few bits – milk and crisps before work for the office staff and a lunchtime meal for myself. So I didn&rs
  
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• An apprenticeship or university – which would be better for my creative son?

  22-05-2017 08:00 via theguardian.com
  
  I don’t want to rob him of the opportunities that a higher education course could offer but it is costly, so I’m torn
  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.My youngest son is 18 and just finishing his A-levels. He is creative and would like to work eventually in a medi
  
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• Average asking price for homes in UK hits record high of £317,000

  22-05-2017 07:01 via theguardian.com
  
  Data suggests buyers are brushing aside Brexit and election uncertainty to seek bigger properties in school catchment areasAsking prices for UK homes hit a new record high over the past month as families in search of bigger properties brushed aside uncertainty caused by Brexit and June’s general election.Prices sought by sellers rose 1.2% in the four weeks to 13 May, pushing the average asking price to a fresh peak of £317,281, according to the property website Rightmove. Continue re
  
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• Ethical art: how online entrepreneurs are selling Indigenous artists to the world

  22-05-2017 03:12
  
  Indigenous Australian artists are frequently exploited and underpaid: now an ethical online gallery is connecting community art centres with collectors For many decades now Indigenous Australian art has adorned boardroom and salon walls from Double Bay to New York City and from Berlin to London. Notwithstanding the commitment of dedicated arts centres, curators and collectors who’ve been determined to forge better deals for often impoverished Indigenous creators, too many Aboriginal artist
  
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• Working in retirement: Job satisfaction set to drive up number of older workers

  22-05-2017 01:01 via feedproxy.google.com
  
  JOB satisfaction is set to drive up the number of older workers in UK workplaces, a survey has found.
  
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