Financial news

• Tesco posts record growth for seven years thanks to low prices

  16-06-2017 23:20 via feedproxy.google.com
  
  TESCO had its best UK quarterly sales growth for seven years as it kept prices down despite rising inflation.
  
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• Almost 1m UK bank customers will be forced to use new sort codes

  16-06-2017 20:15
  
  Bank of England reveals estimated number affected as banks implement Vickers rules on ringfencing high street operationsAlmost 1 million UK bank customers will be forced to have to use new six-digit sort codes as the high street lenders implement rules intended to make the financial system safer, a Bank of England official has said.James Proudman, a senior regulator in Threadneedle Street, said the estimate from high street banks included retail and corporate customers. Continue reading...
  
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• Attlee, Labour and the battle against austerity | Letters

  16-06-2017 20:13
  
  Austerity has fed rapacious cost-cutting, with devastating consequencesHow apt that a biography of Attlee won the Orwell prize for political writing as art (Tribute to NHS founder Clement Attlee wins Orwell prize, 16 June). Such reminders of Labour’s totemic achievements are essential in challenging Tory doublethink. Indeed even your leader this week (May’s coalition of chaos stumbles through another day, 14 June) suggested that “in rhetorical terms, austerity has been over for
  
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• SSE boss gets 72% pay rise weeks after arguing against cap on bills

  16-06-2017 19:24
  
  Alistair Phillips-Davies to receive £2.92m after financial year in which profit margin on households rose from 6.2% to 6.9%The boss of one of the UK’s biggest energy companies has been given a 72% pay rise, just weeks after arguing against consumers having their bills capped to save them £100 a year.Alistair Phillips-Davies, the chief executive of SSE, will be paid £2.92m in 2017 after receiving the maximum possible bonuses for leading a “robust performance” b
  
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• Businesses must promote diversity – not just because it's good for the bottom line | Tim Ryan

  16-06-2017 18:34
  
  Too many of America’s workplaces are not representative of our communities. In a divided country, we have a duty to advance diversity and inclusionWe’re living in a country of growing division and tension, and it’s having an impact at work. But it’s often the case that when we walk into the office – where we spend the majority of our time – we don’t address these issues.And yet there’s so much to talk about – from growing societal inequality
  
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• Greece not safe from financial crisis yet as Spain threatens to BLOCK bailout

  16-06-2017 18:33 via feedproxy.google.com
  
  GREECE could be plunged into further financial crisis as Spain and Italy threaten to block the next instalment of a multi-billion Euro bailout package.
  
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• American whiskey a go go: UK downing record amounts of US spirit

  16-06-2017 18:07
  
  Britons consume more than 1m litres of bourbon, rye and other American whiskeys a month, with sales passing £1bn in 2016Forget gin, British drinkers are now drinking record amounts of American whiskey, with sales topping more than a £1bn for the first time. Whiskey is the UK’s fastest growing tipple as Britons drink more than 1m litres of the spirit every month. As a result sales grew 9% in 2016, compared with 7% for gin and a decline of 1% for scotch, the domestic rival to Jac
  
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• Let’s move to Helensburgh, Argyll & Bute: ‘The air seems to sparkle’

  16-06-2017 17:30 via theguardian.com
  
  I’m surprised more artists haven’t settled here, but a quick eye on local history shows they were beaten to it by Johnny PoshWhat’s going for it? There’s no escaping the waters in Helensburgh. They’re in front of you (the Clyde), to the side (Gare Loch) and behind (Loch Lomond). So much liquid does something funny to the light – the air seems to sparkle, while the brooding landscape of smoky, blue-green hills bleeds into the sea like watercolour flicked f
  
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• UK's Financial Conduct Authority: Two Charged With Insider Dealing - Exchange News Direct

  16-06-2017 17:21
  UK's Financial Conduct Authority: Two Charged With Insider Dealing
  Exchange News Direct
  The Financial Conduct Authority (FCA) has instituted criminal proceedings against Fabiana Abdel-Malek (date of birth 17/09/1982), a former compliance officer employed by UBS AG's London Branch and Walid Anis Choucair (date of birth 04/03/1979) ...en meer »
  
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• France eyes court to deal with post-Brexit financial contract issues - London South East (registration) (blog)

  16-06-2017 17:18
  France eyes court to deal with post-Brexit financial contract issues
  London South East (registration) (blog)
  PARIS, June 16 (Reuters) - France is considering creating a special court that would handle disputes over financial contracts governed by English law after Britain leaves the European Union, a move designed in part to help lure banks to Paris from the ...en meer »
  
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• BA cabin crew call two-week strike in July over pay dispute

  16-06-2017 15:51
  
  Up to 2,000 staff will take industrial action after pay deal collapses over reprisals for staff who went on strike earlier in the yearCabin crew at British Airways are to strike for two weeks in July, in the longest walkout to date in an increasingly bitter dispute over pay. Up to 2,000 members of BA’s mixed fleet, which employs mainly younger, recent recruits on inferior terms and conditions to most crew, will take renewed action after a pay deal foundered over reprisals for staff who wen
  
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• Live Q&A: How can the private sector use water more efficiently?

  16-06-2017 15:49
  
  Join an expert panel to discuss how to minimise the waste of water by industry on Thursday 22 June 3-4.30pm BSTMany regions in the world, particularly sub-Saharan Africa, south and south-east Asia, South America and the Caribbean suffer from economic water scarcity, according to the International Water Management Institute.Large quantities of water are used in many different industries for processing a wide variety of products. How can the private sector use water more efficiently so that it pre
  
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• Amazon buys Whole Foods for £10.7billion as internet giant takes on supermarkets

  16-06-2017 15:33 via feedproxy.google.com
  
  AMAZON is to buy Whole Foods as the internet giant continues to take on the biggest supermarkets, such as Tesco, Sainsbruy's and Walmart in the US.
  
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• Amazon to buy Whole Foods Market in $13.7bn deal

  16-06-2017 15:26
  
  Takeover of organic food specialist marks new push into grocery market after launch of Fresh delivery serviceAmazon, the world’s most powerful online retailer, has taken a giant stride into traditional retailing, spending $13.7bn (£10.7bn) to take over organic food chain Whole Foods Market.The all-cash deal could be game-changing for the traditional supermarket business. Amazon has long had ambitions to move into the grocery business and launched its food delivery service, Fresh, in
  
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• Tesco fined £8m for fuel leak at petrol station in Lancashire

  16-06-2017 15:17
  
  Supermarket handed record fine for single incident of pollution after 23,500 litres of fuel escaped in HaslingdenTesco has been fined £8m fine after a massive fuel leak at one its petrol stations polluted a Lancashire river, killing fish and forcing those living nearby to leave their homes.It is the largest fine for a single incident of pollution and is second only to the £20m in fines and costs Thames Water was ordered to pay in March which related to multiple offences. Continue rea
  
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• Tech Bubble BURSTING: Share prices of Google, Facebook, Amazon and Apple crash AGAIN

  16-06-2017 14:17 via feedproxy.google.com
  
  STOCK prices in some the world's biggest internet companies, including Google, Facebook, Amazon and Apple, have continued to tumble, amid panic a giant tech bubble in markets is about to burst.
  
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• UK attracts record overseas tourists after pound's Brexit slide

  16-06-2017 13:47
  
  Number of US and Canadian visitors rises by 16% – but Britons are forced to cut holiday spending by poor exchange ratesRecord numbers of overseas visitors came to the UK in April, and spent record amounts of money in shops, hotels and restaurants in fresh evidence of a fillip to tourism from the steep fall in sterling.But the pound’s decline has left cash-strapped Britons forced to stay at home or cut their spending overseas.Continue reading...
  
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• Danish beauty website wants £83 for products that were never ordered

  16-06-2017 13:27 via theguardian.com
  
  LuxStyle asked my 15-year-old daughter to enter her email address, and now they are demanding paymentPlease investigate an online company called LuxStyle, which is based in Denmark. It places links to its beauty products on social media sites such as Facebook. My 15-year-old daughter clicked on a link to a blackhead removal facemask and was required to enter her email and postal address before she could view the product details and price. The £83 they were subsequently asking was so outrag
  
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• The day my dad saved my business

  16-06-2017 12:30
  
  To celebrate Father’s Day this weekend, we speak to the entrepreneurs who’ve relied on dad when their business hit a crisisShare your favourite photo of you and your dad When Valérie Aelbrecht had the opportunity to run a pop-up store at Old Street station last summer, she grabbed it with both hands. It was only later that she realised how much work it would be as a sole founder. Continue reading...
  
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• Google 'faces €1bn-plus fine' from EU over market dominance

  16-06-2017 12:14
  
  Tech giant could receive record penalty for favouring its comparison shopping service in its search result pagesGoogle is reportedly facing a record-breaking fine from Brussels of more than €1bn (£875m) over alleged abuse of its market dominance.EU officials are expected to announce in the coming weeks that the tech giant has been guilty of manipulating its search engine results to favour its new Google Shopping service, which offers price comparisons on products. Continue reading...
  
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• Ofcom fines Three £1.9m for failing to maintain 999 access

  16-06-2017 12:12
  
  Ofcom found mobile provider breached requirement to ensure uninterrupted access to emergency services at all timesThe mobile provider Three has been fined nearly £1.9m for failing to ensure customers could contact emergency services at all times.An investigation by the regulator Ofcom found Three broke rules designed to ensure everyone can contact the emergency services at all times, which the regulator said was of the utmost importance to public health and safety. Continue reading...
  
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• Meddling IMF wades into EU talks: Hard Brexit will 'CRASH' British economy, says Lagarde

  16-06-2017 11:33 via feedproxy.google.com
  
  BRITAIN should opt for a predictable and safe 'soft' Brexit to protect the economy, according to the International Monetary Fund chief Christine Lagarde.
  
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• Inflation rates: Retailers' shares PLUNGE as spending takes a hit

  16-06-2017 11:26 via feedproxy.google.com
  
  RETAILERS’ shares fell sharply yesterday as shoppers felt the heat from rising inflation.
  
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• More than half of Morrisons investors rebel over executive pay

  16-06-2017 10:11
  
  Supermarket appears to blame shareholder lobby group after vote on renumeration report that could increase bonus payoutsMore than half of Morrisons shareholders have failed to back the supermarket’s bosses’ pay package in a massive protest vote. Investors representing 48% of its shares voted against the company’s remuneration report, rising to 51% with abstentions, as Morrisons held its annual shareholder meeting at its HQ in Bradford on Thursday. Continue reading...
  
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• POUND LIVE: Pound pauses ahead of Brexit talks and Theresa May's DUP deal

  16-06-2017 09:41 via feedproxy.google.com
  
  THE pound remained flat as markets gear up for the outcome of Theresa May's coalition deal with the DUP and the start of Brexit talks.
  
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• Pound jumps as Bank of England split over IMMEDIATE interest rate rise

  16-06-2017 09:29 via feedproxy.google.com
  
  THE pound surged after three members of the Bank of England's Monetary Policy Committeee voted to immediately raise interest rates in June, amid surging inflation.
  
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• Volvo Car UK appoints new head of financial services - AM-online - AM-online

  16-06-2017 08:30
  
  AM-online
  Volvo Car UK appoints new head of financial services - AM-online
  AM-online
  Volvo Car UK has appointed Selwyn Cooper as its head of financial services with immediate effect.en meer »
  
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• Morrisons' indignation over shareholder rebellion is misplaced | Nils Pratley

  16-06-2017 08:18
  
  If the supermarket wants investors to back its executives’ pay, it shouldn’t annoy them with a top-up that looks greedyWhen 48% of shareholders rebel against a company’s remuneration report, most chairmen scuttle into the shadows muttering empty words about seeking further engagement with investors. So Andy Higginson, chairman of Morrisons, deserves some credit for coming out fighting after more than half of investors either voted against the proposal or withheld their vote. Mo
  
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• 'We can't allow second Brexit' Eurozone must reform or more will leave, warns Spain

  16-06-2017 08:08 via feedproxy.google.com
  
  THE eurozone cannot afford another country to leave the bloc after Britain's groundbreaking vote to leave last year, Spain's economy minister has warned.
  
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• Your private paradise in the Maldives – in pictures

  16-06-2017 08:00 via theguardian.com
  
  Jaw-dropping luxury is the hallmark of this nine-bedroom island mansionContinue reading...
  
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• How can I get more senior roles in social care?

  16-06-2017 08:00 via theguardian.com
  
  I retrained from an advertising career, but management positions seem impossible in this field too
  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 am 58 and have previously worked abroad as a media advertising executive. But when I came to the UK I was told that, as I did not have UK expe
  
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• The eurozone must reform or die | Kenneth Rogoff

  16-06-2017 07:00
  
  Many EU politicians are loath to admit it, but the status quo is probably not sustainable; there must be either greater fiscal integration or a break-upWith the election of a reform-minded centrist president in France and the re-election of the German chancellor, Angela Merkel, seeming ever more probable, is there hope for the stalled single-currency project in Europe? Perhaps, but another decade of slow growth, punctuated by periodic debt-related convulsions, still looks more likely. With a det
  
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• Pensions WARNING: Pots under pressure as older worker redundancy rate hits record high

  16-06-2017 01:01 via feedproxy.google.com
  
  PENSIONS pots are under pressure as the redundancy rate for older workers hits a record high, warn retirement experts.
  
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• Norfolk emerges as dating fraud hotspot in regional scam standings

  16-06-2017 01:01 via theguardian.com
  
  Investment fraud is a particular problem in Surrey while email hacking afflicts London, England and Wales reports data suggests Norfolk is a hotspot for reported dating fraud, while in Surrey investment scams are a particular concern and mid-Wales has relatively high levels of reported computer repair fraud, according to Which? analysis.The findings were revealed following a Freedom of Information Act request for thousands of reports made to Action Fraud during 2014, 2015 and 2016. Continue read
  
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