Financial news

• Labour MPs warn ministers against ‘grubby deal with Murdochs’ over Sky

  29-06-2017 23:16 via theguardian.com
  
  Ed Miliband and Tom Watson sound sceptical note after culture secretary backs Ofcom recommendation for six-month review of Fox bid Labour politicians told ministers “not to do a grubby deal with the Murdochs” in order to push through 21st Century Fox’s £11.7bn takeover of Sky after Ofcom warned there were serious concerns that any takeover would hand the family increased influence over news and politics in the UK .The MPs’ intervention came in response to the cultur
  
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• Indian-origin immigration adviser banned for deception in UK - The ... - Financial Express

  29-06-2017 21:24
  
  Financial Express
  Indian-origin immigration adviser banned for deception in UK - The ...
  Financial Express
  An Indian-origin consultant licensed by the British government to work as an immigration adviser for people applying for UK visas has been banned indefinitely ...en meer »
  
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• Ofcom has concerns about Murdoch power in UK if Sky bid allowed

  29-06-2017 20:55 via theguardian.com
  
  Regulator’s reports conclude Murdochs are ‘fit and proper’ but allegations of harassment at Fox are ‘extremely serious and disturbing’Ofcom has published two in-depth reports on 21st Century Fox’s proposed takeover of Sky which demonstrate why it has concerns about the Murdochs’ influence on UK news and politics if the deal goes through.The media regulator’s report into the “public interest test” for the deal examines the size and influ
  
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• Ireland says dozen City firms and banks to set up in Dublin over Brexit

  29-06-2017 19:09 via theguardian.com
  
  Authorities say institutions including ‘an American bank’ have agreed to move some operations from London to Irish capitalIrish authorities have said they have clinched deals with more than a dozen London-based banks and finance houses to move some of their operations to Dublin in preparation for Brexit.As Dublin continues to battle with Frankfurt, Luxembourg and Paris for the Brexit spoils, the head of international financial services at Ireland’s Industrial Development Author
  
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• Southern rail crisis: Grayling given two weeks to make ruling

  29-06-2017 18:29 via theguardian.com
  
  High court makes order of transport secretary after commuters sought review of government handling of GTR franchiseThe high court has given the transport secretary, Chris Grayling, two weeks to make a critical, long-delayed ruling over the Southern rail crisis.The order was made after Southern commuters sought a judicial review of the government’s handling of the Govia Thameslink Railway franchise, which incorporates Southern.Continue reading...
  
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• Google's fine is big news but the company faces a far bigger threat

  29-06-2017 17:19 via theguardian.com
  
  The Canadian supreme court ruled that Google can be forced to pull results worldwide, not just the Canadian version of its search engineGoogle has come face to face with two of its greatest nightmares this week. The first garnered enormous attention worldwide, and will be an expensive period regardless of how it shakes out; but the second flew below the radar, despite the fact that it could eventually be far more damaging to the company’s operating model.Hitting the headlines was the Europ
  
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• Rupert Murdoch's Sky bid is now very likely to succeed

  29-06-2017 17:01 via theguardian.com
  
  The likely referral of 21st Century Fox’s bid for Sky to UK competition authorities represents only a temporary setback for the media mogulRupert Murdoch will be smiling. A possible referral of the Sky bid to the competition authorities is a setback, but the overall plot is moving perfectly satisfactorily from his point of view. Soon he may be in the familiar position of haggling over fine details, such as the future of Sky News. In a negotiation with regulators and politicians, Murdoch us
  
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• UK consumer credit rises as the pound pushes above $1.30 - as it happened

  29-06-2017 16:04 via theguardian.com
  
  Borrowing by British households accelerated in May according to figures from the Bank of England, days after it warned on a surge in consumer debtPound rises above $1.30 on rate hike expectationsRupert Murdoch’s Sky bid referred to competition watchdog
  US first-quarter growth revised up to 1.4% 3.04pm BSTBefore we close up for the day, let’s take a look at the markets.Over on Wall Street, markets are down in early trading: 2.53pm BSTOver in Dublin, Irish tourism leaders have been exp
  
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• Buy-to-let sales halve, plus is your smart meter spying on you?

  29-06-2017 15:57 via theguardian.com
  
  Also, the couple who spent their wedding night on an airport bench thanks to British Airways, and properties that prove you are to the manor born• Sign up to receive Money Talks each weekHello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Continue reading...
  
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• UK financial watchdog investigates car loans market - The Guardian

  29-06-2017 15:33
  
  The Guardian
  UK financial watchdog investigates car loans market
  The Guardian
  Cars for sale at a dealer. Very few are bought for cash rather than using a loan Photograph: Matt Cardy/Getty Images. Financial Conduct Authority. UK financial watchdog investigates car loans market. FCA is concerned about transparency, conflicts of ...
  
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• UK financial watchdog investigates car loans market

  29-06-2017 15:33 via theguardian.com
  
  FCA is concerned about transparency, conflicts of interest and irresponsible lending in fast-growing sectorThe City regulator is scrutinising the fast-growing car finance sector and has held discussions with the US authorities about the market.Andrew Bailey, the chief executive of the Financial Conduct Authority, said the FCA wanted to understand what was going on in the car finance market. “What’s going on here? Does it mean there are more cars or [is it that] the form of financing
  
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• My credit score is at risk after landlord failed to register correct address

  29-06-2017 15:20 via theguardian.com
  
  Credit card companies aren’t able to match my identity with my council tax and billing address to confirm my creditworthinessMy credit score is a mess and I think it’s my ambiguous address that is causing it. When a group of us rented our flat, we were told by the landlord that the address was Flat B followed by the street address. However, it would appear the landlord never registered this address as online postcode searches don’t recognise it. Meanwhile, our council tax is ch
  
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• UK government seeks financial lawyer for top Treasury post - Financial News (subscription)

  29-06-2017 15:07
  
  UK government seeks financial lawyer for top Treasury post
  Financial News (subscription)
  The UK government is on the hunt for a senior lawyer to advise the Treasury on legal issues concerning the financial services sector and others arising from the UK's pending exit from the European Union. The City headhunter Odgers Berndtson is in the ...
  
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• Rolls-Royce vows to protect 7,000 jobs with £150m investment

  29-06-2017 14:42 via theguardian.com
  
  Unite union hails deal, which will safeguard jobs of nearly a third of UK workforce for five years, but warns over impact of BrexitRolls-Royce has pledged to protect 7,000 engineering jobs in the east Midlands as part of a £150m investment, its largest single outlay in the UK for more than a decade.The engineering firm struck a deal with trade unions that will safeguard work for nearly a third of its 22,300-strong UK workforce for five years, as it prepares to double the number of engines
  
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• UK in credit splurge despite pay squeeze, Bank figures show

  29-06-2017 14:41 via theguardian.com
  
  Soaring level of borrowing on credit cards, overdrafts and loans could bolster case for interest rate rise, say expertsBritain’s hard-pressed consumers are increasingly turning to credit cards, overdrafts and loans to support their spending, according to the Bank of England.Threadneedle Street’s monthly report on money and credit found that the outstanding amount of unsecured consumer credit rose by 10.3% in the year to May, five times as fast as the growth rate of earnings. Continue
  
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• 'EU pension' planned for people who move between countries

  29-06-2017 12:59 via theguardian.com
  
  European commission sets out proposals for pension that will let workers save seamlessly into one pot wherever they areA new “EU pension” will be introduced to aid people who move around the continent under proposals from the European commission.The EU-branded product will allow workers hopping from country to country to save seamlessly into one pot. Continue reading...
  
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• UK financial issues 'resonant' in Wales, economist says - BBC News - BBC News

  29-06-2017 11:03
  
  BBC News
  UK financial issues 'resonant' in Wales, economist says - BBC News
  BBC News
  The Bank of England's chief economist says issues like economic inactivity and weak wages need to be tackled in Wales.en meer »
  
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• UK financial issues 'resonant' in Wales, economist says - BBC News

  29-06-2017 11:03
  
  BBC News
  UK financial issues 'resonant' in Wales, economist says
  BBC News
  People in Wales were facing a "squeeze" because pay is flat but the price of goods has gone up, according to the Bank of England's chief economist. Andy Haldane said interest rates could "edge up" if the cost of living continues to rise. He spoke to ...en meer »
  
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• FCA knows its scrutiny of the investment sector has only just started | Nils Pratley

  29-06-2017 10:43 via theguardian.com
  
  The City regulator must resist the lobbying backlash and follow up its call for reform of the fund management industryThe fund management industry has become an elaborate exercise in siphoning savers’ capital for the benefit of insiders, critics have grumbled for years, with strong justification. Now the Financial Conduct Authority finally agrees – roughly speaking.The regulator’s language is softer, but many of its findings support familiar complaints about opaque fee structur
  
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• Brexodus has begun. We EU nationals know staying on is too big a gamble | Joris Luyendijk

  29-06-2017 10:00 via theguardian.com
  
  Who would sacrifice EU citizenship for life in a country we now know could turn on us at any moment? It makes sense to get ahead of the returning herdIt will not happen in spectacular ways, so do not expect TV footage of hordes of well-heeled EU nationals making for Heathrow airport or the Channel tunnel. Rather it will be a steady, inexorable drip-feed. It has already started and as the true implications of Brexit sink in the number will swell. Call it the Brexodus: well-educated EU nationals w
  
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• Banks should disclose lending to companies with carbon-related risks, says report

  29-06-2017 08:32 via theguardian.com
  
  International climate task force says companies should disclose all of their direct and indirect greenhouse gas emissionsBanks should disclose lending to companies with carbon-related risks, according to recommendations in a new report by the Task Force on Climate-related Financial Disclosures.The TCFD report – part of a G20 initiative led by governor of the Bank of England Mark Carney and former mayor of New York City Michael Bloomberg – outlines how companies should disclose climat
  
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• Stagecoach says it has overpaid for East Coast rail contract as profitability plunges

  29-06-2017 08:03 via theguardian.com
  
  Brexit and terrorism meant franchise will ‘have to be reset’, says third private operator of London to Edinburgh line in 11 yearsThe London-to-Edinburgh rail line is facing its third crisis of private ownership in 11 years after Stagecoach clashed with the government over the terms of its East Coast franchise. Stagecoach has also admitted that in hindsight it overpaid for the £3.3bn contract, blaming factors including Brexit and terrorism for underperformance that punched an &p
  
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• The Amazon's new danger: Brazil sets sights on palm oil

  29-06-2017 08:00 via theguardian.com
  
  Brazil’s ambition to become a palm oil giant could have devastating social and environmental impacts if the move is not carefully managed, say expertsJorge Antonini takes a palm kernel in his hands and slices it open. Squeezing it between his fingers, the kernel oozes the oily liquid found in hundreds of everyday products, from cakes to chocolate spread.
  The scientist is standing on a government-owned farm near the Brazilian capital of Brasília. Here, he and a small group of colleag
  
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• Should we use the London help-to-buy scheme to purchase a home?

  29-06-2017 08:00 via theguardian.com
  
  Despite having a good deposit, prices in south London seem unachievable, so we are thinking about going for a new-build with government help
  Q My little family are looking to buy a house in London after many years of renting and scrupulous saving. The good news is that we have accumulated about £100,000 in savings, but the bad news is that the London property market is unfathomably expensive.We have a daughter under a year old, and hope to have another child in the next few years, so are l
  
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• AI in your earphones? The brave new world of hearables

  29-06-2017 08:00 via theguardian.com
  
  Startups are transforming earphones into high tech pieces of kit that can translate languages, improve hearing loss and act as voice-activated assistants Do you tend to stuff your earphones in your pocket? Or perhaps they’re buried in your backpack? When you’ve invested in a set of ‘hearables’, you might handle them more carefully. These in-ear computers could help you get fit, improve your hearing and translate foreign languages. The global market for Bluetooth-connected
  
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• UK taxpayers face multi-billion burden for dismantling of North Sea rigs

  29-06-2017 07:00 via theguardian.com
  
  Oil and Gas Authority predicts overall bill of £60bn and says challenge is to save industry and the taxpayer money and achieve safe decommissioning British taxpayers face paying billions of pounds more than previously expected for dismantling the North Sea’s oil rigs in a further sign that the industry is becoming a burden on public finances. Decommissioning oil and gas facilities across the UK continental shelf will cost an estimated £59.7bn, according to a report by the Oil a
  
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