Financial news

• US Federal Reserve raises interest rates and says recovery is on track - as it happened

  14-06-2017 22:26
  
  America’s central bank has taken another step towards normalising monetary policy, by increasing interest rates to a 1% to 1.25% rangeYellen press conference: highlights start hereLatest: No talks between Trump and Yellen over a second termBreaking: Fed hikes!Fed outlines balance sheet reduction plansWhy the Fed raised interest rates todayEARLIER: UK real wages fall again9.23pm BSTThat’s all for today. Here’s a quick round-up.The US Federal Reserve has pressed on with the norma
  
  Read more

• The Guardian view on austerity economics: it failed | Editorial

  14-06-2017 21:07
  
  The Treasury says Britain has to save for a rainy day. But the skies are about to open and it’s time to spendThere could hardly be a worse time for the economy to be starting Brexit negotiations. That thought will be uppermost in the mind of Philip Hammond when he stands up on Thursday to make the annual address by the chancellor to the City’s elite at London’s Mansion House. Mr Hammond has been warning of the dangers of Britain being outside both the single market and the cust
  
  Read more

• Grenfell Tower's managers were reviewing safety after fire at another block

  14-06-2017 21:03
  
  London fire brigade issued enforcement notices to Kensington & Chelsea TMO, which maintained building• London fire - latest updatesThe company responsible for managing Grenfell Tower had been reviewing fire safety procedures after previous incidents, it has emerged.
  Kensington & Chelsea Tenant Management Organisation (KCTMO) was paid £11m by the Royal Borough of Kensington and Chelsea to manage social housing in 2016. Continue reading...
  
  Read more

• Fed raises interest rates again in further sign of confidence in US economy

  14-06-2017 20:56
  
  Central bank raises rate from 1% to 1.25% and plans to reduce bond holdings
  Committee says job market has strengthened and suggests more rises in future The US Federal Reserve announced it was raising short-term interest rates by a quarter percentage point on Wednesday as the central bank continued to unwind the huge economic stimulus plan brought in after the great recession.After a two-day meeting, the Fed raised the target range of the federal funds rate from 1% to 1.25%, the third consecutiv
  
  Read more

• Advertisement

• Duke of Westminster's property group to build 1,500 rental homes in London

  14-06-2017 20:17 via theguardian.com
  
  Grosvenor Group plans to build 11 blocks on 12-acre site of former biscuit factory in Bermondsey, south-east London, aimed at lower and middle income workersThe Duke of Westminster’s property group is to build 1,500 rental homes in south-east London, one of the capital’s biggest “build to rent” developments.The proposed £500m project will be Grosvenor’s first “build to rent” development – and the first foray into Bermondsey, in south-east Lon
  
  Read more

• May is warned: don't break election pledge on energy price cap

  14-06-2017 19:33 via theguardian.com
  
  Conservative MP says proposed cap was popular manifesto policy and PM should not give in to cabinet pressure to drop itTheresa May has been urged to hold her nerve and stick with her campaign pledge to cap energy prices for millions of households, after it emerged cabinet ministers have told her to scrap the flagship policy.A leading Conservative MP said that the cap was one of the few genuinely popular policies with voters in the election, and called on the prime minister to ignore attempts to
  
  Read more

• Global oil glut set to continue despite efforts to prop up price

  14-06-2017 19:26
  
  Increasing production from US and non-Opec countries means growth in oil supply will outstrip demand in 2018The world’s oil glut is likely to persist next year in a blow to efforts by major producers to shore up the oil price by cutting output, according to a leading energy authority.Growth in oil supply will outstrip growth in demand during 2018, driven by increasing production from US shale and other countries outside Opec, the International Energy Agency (IEA) said.Continue reading...
  
  Read more

• Infographic: financial institutions optimistic for first UK CRS filing - Banking Technology

  14-06-2017 13:56
  Banking Technology
  Infographic: financial institutions optimistic for first UK CRS filing
  Banking Technology
  UK CRS infographic An online survey carried out amongst our readers in the run up to the UK's first Common Reporting Standard (CRS) submission has found respondents largely optimistic about how their first transmittal would go; were appreciative of the ...
  
  Read more

• Advertisement

• Pay squeeze intensifies as wage growth falls further behind inflation

  14-06-2017 12:25 via theguardian.com
  
  ONS data signals further decline in living standards for UK households as unemployment rate stays at 42-year lowBritain is experiencing a rapid decline in living standards with the biggest squeeze in workers’ pay since 2014, according to the latest official data.Regular pay adjusted to account for the impact of inflation fell by 0.6% year on year in the three months to April. It was the weakest data since the summer months in 2014, according to the Office for National Statistics. The decli
  
  Read more

• UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott

  14-06-2017 12:06
  
  There has been nothing like the current wage squeeze in living memory – and there is no immediate prospect of recoveryCast your mind back to March 2008. The financial markets have been in turmoil since the previous summer and in the previous month the Labour government has been forced to nationalise the troubled bank Northern Rock. Few realised it at the time but the economy had peaked. A deep and brutal recession was about to begin. In that month, the average basic weekly wage, excluding
  
  Read more

• Sterling ticks higher before UK wages data - Financial Express

  14-06-2017 11:15
  
  Financial Express
  Sterling ticks higher before UK wages data
  Financial Express
  Sterling strengthened against the dollar on Wednesday as investors awaited UK labour market data for signs of a pick-up in wages that could add to arguments for an eventual rise in record low Bank of England interest rates. The Bank of England (BoE ...en meer »
  
  Read more

• UK election halts house move for SocGen's prime brokers - Financial News (subscription)

  14-06-2017 08:18
  
  UK election halts house move for SocGen's prime brokers
  Financial News (subscription)
  French bank Societe Generale put the relocation of its entire prime services team in London temporarily on ice after news of a hung parliament in the UK kept bankers at their desks. The team, which, among other things, provides consulting and capital ...
  
  Read more

• Sir John Hegarty: Einstein didn't have a brainstorm session

  14-06-2017 08:00
  
  The BBH co-founder and one of the world’s most awarded ad men on maintaining a long creative career and avoiding ‘McCartney syndrome’ One of the advertising world’s most celebrated contrarians, Sir John Hegarty is still railing against conformity after more than 50 years at the forefront of the industry. The co-founder of ad agency BBH and creator of acclaimed campaigns for brands such as Levi’s, Audi, BA and Johnnie Walker, Hegarty believes that the propensity for
  
  Read more

• Every time I contact TalkTalk I get a fake email from scammers

  14-06-2017 08:00 via theguardian.com
  
  It seems the phone company is still having problems with data breachesI know you have charted the various data breaches at phone company TalkTalk, so thought I’d share my experience. I am a long-standing customer, for various reasons of convenience, though I have a range of ongoing service and account issues. For the past year or so, every time I contact its helpline, use online chat or am provided with some additional hardware/service, within a few hours I receive a crudely rendered fake
  
  Read more

• Beachfront homes – in pictures

  14-06-2017 08:00 via theguardian.com
  
  Enjoy the salt air at these seafront properties, from Whitby to Mauritius Continue reading...
  
  Read more

Follow @financialnwsUK on Twitter!