Financial news

• UK workers earning £2.50 an hour prompts call for government action

  06-07-2017 23:00 via theguardian.com
  
  Report on the gig economy by Frank Field reveals allegations of ‘poverty pay’ and shoddy treatment at Parcelforce, DPD and British Car AuctionsThe government has been urged to stage an “emergency intervention” to protect gig economy workers, amid concerns they are being forced into contracts that sometimes pay less than £2.50 an hour and can be cancelled at any moment.
  The allegations are detailed in the latest report by the former work and pensions committee chair,
  
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• Gig economy: there's an easy way to end abusive working conditions

  06-07-2017 23:00 via theguardian.com
  
  Frank Field MP and Andrew Forsey posit a simple but ingenious solution: make companies show their workforces are genuinely self-employedTales of abusive working practices in the self-employed “gig” economy are no less shocking for being familiar. Try this testimony from a driver at Parcelforce, as related in the latest excellent report by Frank Field MP and Andrew Forsey: “I have been fined over £400 for being too sick to get to work for just one day and once had to pay f
  
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• Robot banker helps millennials manage money, plus students face £57,000 debt

  06-07-2017 16:37 via theguardian.com
  
  Also, the real reason why our pockets are empty and a chance to live la dolce vita in NaplesSign 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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• France to ban sales of petrol and diesel cars by 2040

  06-07-2017 15:20 via theguardian.com
  
  Move by Emmanuel Macron’s government comes a day after Volvo said it would only make fully electric or hybrid cars from 2019 France will end sales of petrol and diesel vehicles by 2040 as part of an ambitious plan to meet its targets under the Paris climate accord, Emmanuel Macron’s government has announced.The announcement comes a day after Volvo said it would only make fully electric or hybrid cars from 2019 onwards, a decision hailed as the beginning of the end for the internal co
  
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• Mike Ashley tells high court: I'm a power drinker, I like to get drunk

  06-07-2017 15:13 via theguardian.com
  
  Sports Direct founder says he cannot recall making £15m deal in pub and brands his £2.2bn fortune as ‘wallpaper’Sports Direct boss Mike Ashley has described himself as a “power drinker” and dismissed his £2.2bn fortune as “wallpaper” at the high court.The tracksuits and trainers tycoon is defending claims he agreed to pay a banker £15m while binge drinking in a London pub.Continue reading...
  
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• UK faces tightest squeeze on household incomes for five years

  06-07-2017 14:57 via theguardian.com
  
  Real disposable income per head fell 2% in first quarter of 2017 from year earlier, the steepest decline since end of 2011Rising prices in the wake of the Brexit vote have put the tightest squeeze on household incomes for more than five years, according to official figures on Britons’ economic wellbeing.
  In the opening three months of 2017, real household disposable income per head dropped 2% from the previous year. It was the steepest decline since the end of 2011 and driven by increasing
  
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• Money mentors being offered in Glasgow financial project - AOL UK

  06-07-2017 14:06
  
  AOL UK
  Money mentors being offered in Glasgow financial project
  AOL UK
  Thousands of vulnerable and disadvantaged people will be given a personal money mentor as part of a pioneering new scheme to tackle poverty and inequality. Up to 4,000 people in Glasgow facing financial hardship will be given bespoke help to become ...en meer »
  
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• Financial services could boost UK economy by up to £43bn by 2025 - DIGITALLOOK

  06-07-2017 13:28
  
  DIGITALLOOK
  Financial services could boost UK economy by up to £43bn by 2025
  DIGITALLOOK
  The UK finance industry could provide a boost of £43bn to the country's economy by 2025, according to PricewaterhouseCooper and lobby group TheCityUK. In a blueprint report published on Thursday, the professional services firm and City representatives ...en meer »
  
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• Brexit should not end UK financial firms' access to EU, says FCA - BBC News

  06-07-2017 13:16
  
  BBC News
  Brexit should not end UK financial firms' access to EU, says FCA
  BBC News
  Brexit should not end open financial markets in Europe, the head of the UK's Financial Conduct Authority has said. Andrew Bailey said there should be common rules and a mechanism for resolving disputes between UK and EU financial firms following Brexit.
  RPT-NEWSMAKER-UK financial watchdog says firms must be free to choose ...Reuters
  Top UK financial regulator calls for clarity on Brexit transitionFinancial Times
  
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• UK Financial Regulator Urges Post-Brexit Free Trade - Wall Street Journal (subscription)

  06-07-2017 12:58
  
  Wall Street Journal (subscription)
  UK Financial Regulator Urges Post-Brexit Free Trade
  Wall Street Journal (subscription)
  LONDON—The head of the U.K.'s financial regulator Thursday questioned whether financial firms need to relocate from the City to maintain access to the EU's financial markets. Speaking in London, Andrew Bailey, chief executive of the Financial Conduct ...
  
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• Chip: the robot banker trying to pull millennials out of their overdrafts

  06-07-2017 12:33 via theguardian.com
  
  Find yourself in the red every month? Can’t seem to budget responsibly? Chip could be for you – if you don’t mind it snooping around your bank accountA robot banker who can pull you out of your overdraft sounds like the premise of a – dull, admittedly – sci-fi story, but Chip promises that it’s here right now.Just finishing its first year in existence, the start-up has a compelling pitch: plug it in to your bank account, and it will analyse your spending, movi
  
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• Hold the Shard-enfreude – a house price drop is not about to happen | Patrick Collinson

  06-07-2017 11:28 via theguardian.com
  
  Trouble at the luxury end of the market is matched by an overall slowdown in London. But a nationwide fall in prices is just not likely to follow
  • Patrick Collinson is money editor of the GuardianThere will be no tears shed for the Shard and its failure to find buyers for its £30m apartments. Instead, “Shard-enfreude” will be the dominant feeling among priced-out home-buyers, excluded from the residential towers which now litter the capital’s skyline, and whose luxu
  
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• UK payment processing firm close to takeover by US rival - Financial Post

  06-07-2017 10:01
  UK payment processing firm close to takeover by US rival
  Financial Post
  LONDON — Britain's largest payment processing company has agreed to get taken over by U.S. rival Vantiv. Worldpay, which allows businesses to accept credit cards and online payments, released a statement Wednesday saying the companies “reached an ...en meer »
  
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• NEWSMAKER-UK financial watchdog says firms must be free to choose location ... - Reuters

  06-07-2017 09:59
  
  NEWSMAKER-UK financial watchdog says firms must be free to choose location ...
  Reuters
  LONDON, July 6 Authorities should not dictate where financial firms are located once Britain leaves the European Union, Andrew Bailey, chief executive of the UK's Financial Conduct Authority told a Reuters Newsmaker event on Thursday. Future financial ...
  
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• Massive cyber-attack could cost Nurofen and Durex maker £100m

  06-07-2017 09:38 via theguardian.com
  
  Reckitt Benckiser says ‘NotPetya’ ransomware – which also affected FedEx and others – disrupted production and deliveriesSome of the world’s biggest companies are counting the cost of lost business following last week’s “NotPetya” ransomware cyber-attack, with Nurofen maker Reckitt Benckiser taking an estimated £100m hit in revenue.Reckitt – which also makes Dettol cleaning products and Durex condoms – said the attack on 27 June h
  
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• NEWSMAKER-UK financial watchdog says firms must have choice of location ... - Reuters

  06-07-2017 09:36
  
  NEWSMAKER-UK financial watchdog says firms must have choice of location ...
  Reuters
  LONDON, July 6 Authorities should not dictate where financial firms should be located after Britain leaves the European Union, Andrew Bailey, chief executive of the UK's Financial Conduct Authority told a Reuters Newsmaker event on Thursday.
  
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• Family of four needs 'at least' £40,800 a year, says thinktank

  06-07-2017 09:14 via theguardian.com
  
  Joseph Rowntree Foundation says inflation and benefit cuts are pushing decent standard of living further out of reachRising inflation and less generous state benefits have made it harder over the past year for families on tight budgets to enjoy what the public considers a decent standard of living, according to one of Britain’s leading thinktanks.The Joseph Rowntree Foundation (JRF) said that despite an above-inflation increase in the “national living wage”, low-income families
  
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• Worldpay shareholders should decline its meek merger deal | Nils Pratley

  06-07-2017 08:13 via theguardian.com
  
  Card processing firm’s proposed merger with US rival Vantiv is not the knock-out offer this healthy business deservesSir Mike Rake, the chairman of Worldpay, should go back to the drawing board. His first attempt to sell the FTSE 100 card processing company deserves to be declined by his own shareholders.On Tuesday, when Worldpay revealed it had received takeover approaches, City analysts speculated the bidding could go as high as 500p a share. This, after all, is supposed to be a rock sol
  
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• TalkTalk, BT and Mr Jones have a thing going on with my account

  06-07-2017 08:00 via theguardian.com
  
  Someone used my address to set up a TalkTalk account and then BT cut off my broadband service without warningI live in a house share in London, and when we received a letter from TalkTalk addressed to a James Jones (not his real name) I didn’t think much of it. But when it was followed by a package containing a broadband router I became concerned that someone had set up an account using our address. I rang TalkTalk and was told to ignore it as a scam as the call handler didn’t recogn
  
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• How an 'Airbnb for retail' is bringing entrepreneurs back to the high street

  06-07-2017 08:00 via theguardian.com
  
  Appear Here launched 4,000 pop-up shops in London last year. Founder Ross Bailey believes they are democratising an industry that has been hard to accessFor Alex Hely-Hutchinson, launching her porridge cafe 26 Grains was the culmination of years of obsessing about an idea she’d had while living in Copenhagen, where it’s a popular takeaway food. But she didn’t know if anyone else would love it as much as she did until she organised a pop-up shop in Old Street station with Appear
  
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• McFarlane on UK Financial Services, Brexit - Bloomberg

  06-07-2017 04:42
  
  Bloomberg
  McFarlane on UK Financial Services, Brexit
  Bloomberg
  John McFarlane, chairman of TheCityUK and chairman at Barclays, discusses U.K. financial services, Brexit negotiations, European equivalence and the ECB's bid for a euro-clearing role. He speaks to Bloomberg's Anna Edwards in an exclusive interview in ...
  
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• Belfast forecast to be number two city in the UK for financial services ... - the Irish News

  06-07-2017 03:10
  
  the Irish News
  Belfast forecast to be number two city in the UK for financial services ...
  the Irish News
  BELFAST is forecast to become the UK's second fastest-growing financial services behind London by 2025 according to a new report.
  West Midlands set to become leading UK financial services centre ...The Business Deskalle 4 nieuwsartikelen »
  
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• Juliette Healey: Resilience of the UK financial system is stronger - Yorkshire Post

  06-07-2017 01:14
  
  Yorkshire Post
  Juliette Healey: Resilience of the UK financial system is stronger
  Yorkshire Post
  Twice a year the Bank of England publishes a major review of what we call the 'financial stability' of the nation. Our aim is to ensure that the financial system is as robust as it can be to withstand whatever shocks could head its way.
  
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• The UK financial sector could be £43 billion stronger after Brexit with City ... - Business Insider

  06-07-2017 01:09
  
  Business Insider
  The UK financial sector could be £43 billion stronger after Brexit with City ...
  Business Insider
  City of London London is the hub of the UK's financial services industry — something the report says will change. Reuters/Hannah McKay. LONDON — A lobby group for the UK finance industry claims the sector could add £43 billion to the UK economy by ...en meer »
  
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