Financial news

• Bond Street: status of UK's most exclusive shopping street under threat

  25-06-2017 21:31
  
  Soaring rents and rates are pushing retailers including Dolce & Gabbana, Hugo Boss and DKNY to think about moving outThe status of Bond Street as the UK’s most exclusive shopping destination is under threat, as one in four retailers on the famous street consider shutting up shop and moving out as a result of high rents and business rates.About 25 of the 100 top fashion brands with stores on Old and New Bond Street are understood to have flagged to the property market that they are read
  
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• Central banks raise alarm over new crash after steep rise in lending

  25-06-2017 18:48
  
  Bankers warn that high-risk borrowers pose danger to stability of global financial markets
  World leaders have been warned to guard against another financial crash after a steep rise in risky bank lending over the past year that could threaten the stability of the global financial system.The international body that represents central banks said a recovery in global trade this year and improving levels of GDP in most countries could create complacency and convince policymakers to ignore warning si
  
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• RBS to cut hundreds of UK jobs in move to India

  25-06-2017 17:48
  
  Bank’s transfer of loans team to Mumbai brings loss of 443 jobs in Britain and condemnation by Unite over ‘cheap’ labour Royal Bank of Scotland is to cut 443 jobs in Britain as the bank moves its team that arranges loans for small businesses to India.The taxpayer-controlled bank said that the roles would transfer to Mumbai, to be included in the group’s growing team there, as part of a restructuring designed to cut costs, first reported in the Mail on Sunday. Continue rea
  
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• Murdoch's Sky takeover bid: culture secretary's verdict due this week

  25-06-2017 16:57
  
  Some analysts believe Ofcom’s investigation into £11.7bn deal has raised concerns but suspect it will get green light six years after earlier bid’s failureRupert Murdoch is about to learn whether his latest bid to buy Sky has been cleared by the government, or whether concerns about competition could yet derail the deal.The culture secretary, Karen Bradley, will this week deliver her verdict on whether to greenlight 21st Century Fox’s proposed £11.7bn takeover of th
  
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• Status of UK's most exclusive shopping street under threat

  25-06-2017 15:45
  
  Soaring rents and rates on Bond Street are pushing retailers including Dolce & Gabbana to think about moving outThe status of Bond Street as the UK’s most exclusive shopping destination is under threat, as one in four retailers on the famous street consider shutting up shop and moving out as a result of high rents and business rates.About 25 of the 100 top fashion brands with stores on Old and New Bond Street are understood to have flagged to the property market that they are ready to
  
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• With politics turned on its head, Labour sticks to Brexit ambiguity

  25-06-2017 15:05
  
  Hard, soft or left? One year on and theories abound, but politicians are yet to define their vision for the shape of Britain’s post-EU futureFew predicted it at the time, but the real effect of the EU referendum a year ago has been political rather than economic. One prime minister has resigned and another has been so badly mauled that she may not survive much longer. Britain is closer to having a Labour government with a radical leftwing agenda than it has been for decades.All this has be
  
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• Online shopping: How to tackle parcel delivery problems

  25-06-2017 14:54 via feedproxy.google.com
  
  ONLINE shopping can be quick, cheap and convenient when all goes well, but too many retailers fail to deliver on their promises.
  
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• Car finance: Is it time to go down the PCP and HP road?

  25-06-2017 14:27 via feedproxy.google.com
  
  YOU CANNOT beat the feeling of getting behind the wheel of a brand-new car, and many people are surprised how little it costs. You can now get a set of shiny new wheels for a small deposit and a few hundred pounds a month.
  
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• Rate hike excitement could cool, says HARVEY JONES

  25-06-2017 14:02 via feedproxy.google.com
  
  THE DEBATE over whether to increase base rates is finally getting interesting.
  
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• Debenhams to show high street health

  25-06-2017 13:42 via feedproxy.google.com
  
  INVESTORS will be watching Debenhams next week for signs of deepening trouble on Britain's high street.
  
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• Greene King to disappoint investors with flat results

  25-06-2017 13:35 via feedproxy.google.com
  
  PUB RETAILER Greene King is set to disappoint investors by serving up a flat set of results next week.
  
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• Interest rate hike moves a step closer – MPC vote could see first increase in a decade

  25-06-2017 13:20 via feedproxy.google.com
  
  BUSINESSES and households should brace themselves for a surprise interest rate hike in August as key Bank of England members turn hawkish.
  
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• Store revamps underlie Carpetright’s improving sales

  25-06-2017 13:12 via feedproxy.google.com
  
  INVESTORS in Carpetright hope to be buoyed by signs that its nationwide store revamp is driving sales growth.
  
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• Trump could use alternate routes to roll back bank reforms

  25-06-2017 13:00
  
  Though Congress is nowhere close to repealing reforms, others think Trump can inflict major and damaging change by overhauling bank rules without legislationOn the campaign trail and in office, Donald Trump has promised to replace the Dodd-Frank Wall Street regulations, triggering fears that he could unleash a new wave of reckless bankers armed with dangerous and loosely regulated financial practices.Related: Trump orders Dodd-Frank review in effort to roll back financial regulationContinue read
  
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• Booming stock markets distract from threat of excessive lending

  25-06-2017 12:30
  
  Central bankers warn that high-risk borrowers pose danger to stability of global financial markets
  World leaders have been warned to guard against another financial crash after a steep rise in risky bank lending over the past year that could threaten the stability of the global financial system.The international body that represents central banks said a recovery in global trade this year and improving levels of GDP in most countries could create complacency and convince policymakers to ignore wa
  
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• Inside the mysterious lot of land Donald Trump owns in Florida's swamplands

  25-06-2017 09:00 via theguardian.com
  
  The quarter-acre parcel brings in no income, has no natural resources and has environmental restrictions. So why does the president still maintain it?Amid the gilded tower blocks, luxury hotels and high-end golf clubs of Donald Trump’s vast global property portfolio is a much smaller holding that looks more than a little out of place.It’s a quarter-acre lot of overgrown woodland in one of Florida’s poorest counties that the US president has owned and paid property taxes on sinc
  
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• Uber and the ‘brogrammers’ feel the consequences of changing the world

  25-06-2017 08:00
  
  Silicon Valley’s culture of disruption leaves victims. Now those who have suffered at the tech sector’s hands are beginning to push backSo Travis Kalanick finally took a one-way cab. The ejection of the founder of Uber as its chief executive last week was that rarest of Silicon Valley events: shareholders taking action to repair a tech company’s culture by removing an executive.The shareholders were venture capitalists who owned chunks of the business, so this was not like the
  
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• Maxed-out consumers of concern to Bank of England

  25-06-2017 08:00
  
  Governor Mark Carney likely to use financial stability report to highlight risks from rising borrowingWe have heard plenty from the Bank of England’s monetary policy committee of late, with its members divided over how to set interest rates in a post-referendum Britain. The debate centres on when to raise borrowing costs from their record low and whether the economy – and squeezed consumers – can take it.This week it will be the turn of the Bank’s financial policy committ
  
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• Europe is the shared story our papers tell. It’s what made me who I am

  25-06-2017 08:00
  
  Brexit is more than financial: it’s a divorce from history and inspiration. For me and many other journalists, it’s personalWe know it’s the most visceral issue in contemporary British politics. We know it turns redtops into attack dogs and Tory backbenchers puce with rage. The ides of May. So we ought to know that it’s personal. Individual and personal. Europe isn’t just one more tick on some routine policy list. It is history and emotion … even for newspape
  
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• I sent money to a friend using Barclays’ Pingit app, but it never arrived

  25-06-2017 07:59
  
  An international transfer of £792 in euros in May still hasn’t turned up in my friend’s accountI made an international transfer of £792 in euros to a friend using the Barclays Pingit mobile payment service on 18 May. My friend has still not received the money, though it has left my account and on the Pingit app it shows as having been paid. I have called different Barclays helplines with no luck. I also tried online chat and went into a branch. There I was told I could pa
  
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• BA debacle sees couple spend wedding night on an airport bench

  25-06-2017 07:59
  
  The honeymooners’ saga of mishaps and delays highlights the problems of getting redress from airlines when things go wrong, as Anna Tims reportsAppropriately it was on April Fools’ Day that Matthew and Natalie Hogg boarded their Iberia flight to Cuba via Madrid for their honeymoon. What should’ve been a 15-hour journey ended up taking the newlyweds more than two days, their wedding night spent on an airport bench thanks to a barrage of mishaps and errors. The saga that unfolded
  
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• The Observer view on the housing crisis | Observer editorial

  25-06-2017 01:05
  
  Government must be prepared to build when private initiatives failAs we report today, research by Shelter shows that by 2020 more than a million households are likely to find that their housing benefit doesn’t cover the rent they pay to private landlords. The consequence will be hardship, eviction and, for many, homelessness. They will be victims both of high private rents and of government restrictions on benefit, both of which stem from the failures of housing policies for more than 30 y
  
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• Cambodian female workers in Nike, Asics and Puma factories suffer mass faintings

  25-06-2017 01:04
  
  Sportswear brands review spate of incidents in factories where employees on short-term contracts work 10-hour days in 30C temperaturesWomen working in Cambodian factories supplying some of the world’s best-known sportswear brands are suffering from repeated mass faintings linked to conditions.Over the past year more than 500 workers in four factories supplying to Nike, Puma, Asics and VF Corporation were hospitalised. The most serious episode, recorded over three days in November, saw 360
  
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• Move by UK supermarkets threatens to bring Fairtrade crashing down

  25-06-2017 01:02
  
  Tesco is to join Sainsbury’s in changing the branding of some ‘fairly traded’ productsWhen four Sainsbury’s executives met farmers from some of Africa’s biggest tea-growing co-operatives in a hotel in Nairobi last month it should have been a mutual celebration of Fairtrade, the gold standard of ethical trading and the world’s most trusted and best-known food certification scheme.But instead of backslapping at the Pride hotel, the world’s largest retailer
  
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