Financial news

• UK to fund research into letting electric cars return power to grid

  07-07-2017 20:31
  
  Vehicle-to-grid technology could help meet demand for electricity at peak times, with owners paid in money or free parkingThe UK plans to invest millions of pounds to explore how the batteries in thousands of electric cars could help the power grid and drive take-up of the cleaner vehicles.British businesses will be able to bid for £20m of government funding for undertaking research and trials of vehicle-to-grid technology, which officials believe holds “enormous potential” ben
  
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• Parliamentary motion calls on Sainsbury's to retain Fairtrade mark

  07-07-2017 20:30
  
  Cross-party support ramps up pressure on supermarket, which recently launched its own ‘fairly traded’ scheme on teaNearly 40 MPs are backing a parliamentary motion calling on supermarkets to support the Fairtrade ethical mark amid fears the 25-year-old campaign faces collapse.The cross-party support ramps up pressure for a change of heart by Sainsbury’s, the biggest backer of Fairtrade in the UK, which recently began experimenting with its own “fairly traded” scheme
  
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• People want a 'sensible Brexit', says Philip Hammond

  07-07-2017 20:09
  
  Chancellor welcomes business leaders’ call for indefinite delay to leaving single market as Liam Fox appears to challenge his stancePhilip Hammond has welcomed an intervention by business leaders who called for an indefinite delay in Britain’s departure from the European single market and customs union and said that people wanted to see a “sensible Brexit”.The chancellor insisted he was happy to see the CBI making its voice heard, but his stance was apparently challenged
  
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• We’ll miss you, Jeremy Bullmore | Letters

  07-07-2017 19:32 via theguardian.com
  
  Jeremy’s advice column in Guardian Money has been vital to navigating the modern workplace, say Richard Gilyead and Jane PotterI was very sorry to learn that Jeremy Bullmore’s workplace advice column (Dear Jeremy, 1 July) is coming to an end. Anyone who wants to understand what it is like to work in a late-capitalist, neoliberal world, and why British productivity is so poor, could do worse than read the endless complaints of frustrated careers and incompetent management that he has
  
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• Low-paid workers need better job satisfaction, No 10 review will say

  07-07-2017 18:58
  
  Exclusive: Taylor report, commissioned by PM, will call on government to improve quality of work for minimum wage earnersA Downing Street review into modern employment is to call on the government to improve the quality of work for millions of people earning the minimum wage after it found too many are stuck with few prospects and falling job satisfaction.A 10-month review commissioned by the prime minister has identified a productivity crisis among the lowest paid workers particularly in sector
  
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• Community groups call time on the demise of the British pub

  07-07-2017 18:19
  
  A revolution in pub ownership is gathering pace as more and more groups club together to buy and run their local, slowing the alarming pace of closuresWhen the only pub in the Cumbrian village of Crosby Ravensworth closed its doors in 2009, residents decided they were not prepared to simply sit back and accept the loss of a vital community hub. They took matters into their own hands, setting up a financial co-operative to bring their local back to life – which meant putting in their own mo
  
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• Let’s move to Hove, East Sussex: ‘It attracts more young people than anywhere in the country’

  07-07-2017 17:30 via theguardian.com
  
  If you’d like to live beside the seaside, Hove is more laid-back – and more affordable – than neighbouring BrightonWhat’s going for it? Only the canny-eyed can tell the precise point, somewhere around Audrey’s chocolate boutique (straight outta Twin Peaks/the age of Glenn Miller), when supposedly rakish Brighton, inventor of the dirty weekend, segues into supposedly suburban Hove, land of Hyacinth Buckets. Those stereotypes of this twin city hold less and less true
  
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• Butter price at all-time high as dairy production curdles

  07-07-2017 17:10
  
  Arla boss predicts butter shortage as British farmers say confidence within dairy sector is at all-time low Buttering up the relatives could be pricier than ever this Christmas as a potential shortage of dairy produce hits the cost of mince pies, Christmas cake, brandy butter and cream.Butter prices have soared more than 20% in the UK in the past year to hit an all-time high as farmers and dairies struggle to cope with demand. Continue reading...
  
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• Europe's stock markets CRASH: 3-month low over Euro Bank’s support withdrawal

  07-07-2017 16:51 via feedproxy.google.com
  
  STOCK markets across Europe have crashed to their lowest level in almost three months, after the European Central Bank hinted it could soon remove some of its support for the economy.
  
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• US jobs report shows sharp recovery in June but wage growth remains slow

  07-07-2017 16:45
  
  Economy adds 222,000 jobs, beating estimates by a healthy margin
  Unemployment rate rises slightly to 4.4% and wages grow only marginally The US economy added 222,000 new jobs in June, reversing a worrying slowdown in jobs growth for Donald Trump but once again highlighting America’s low-wage economy.Economists had been expecting the US to add about 178,000 jobs over the month, but the latest numbers from the Bureau of Labor Statistics comfortably beat those estimates. Healthcare and food s
  
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• UK trade deficit swells and industrial output falls, but US creates 222,000 new jobs - as it happened

  07-07-2017 16:08
  
  Britain’s trade gap widened in May, and industrial output misses forecasts after a drop in manufacturing outputBritain’s trade deficit has jumped - details start here
  UK industrial output fell 0.1%, City expected a 0.5% rise
  Economists: It’s bad news for growthSterling drops to $1.291US adds 220,000 jobs in June, wages disappoint
  Earlier:Jitters over monetary policy are hitting shares and bonds
  Halifax: UK house prices fell in June 4.52pm BSTPS: Here’s Katie’s story
  
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• France steps up effort to woo London banks planning Brexit move

  07-07-2017 16:05
  
  Government aims to make Paris more attractive with lower taxes, lighter regulation and new international schoolsFrance has stepped up its seduction of banks and other financial institutions considering a move out of London due to Brexit, as the government unveiled a raft of proposals aimed at making Paris more appealing.A document presented by the French prime minister, Édouard Philippe, on Friday listed reforms he said could turn Paris into “Europe’s leading financial centre
  
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• Germany's Brexit THREAT: Frankfurt WILL snatch UK's multi-billion euro clearing industry

  07-07-2017 14:39 via feedproxy.google.com
  
  BRITAIN will lose its status as the financial powerhouse that processes hundreds of billions of daily investment trades after Brexit, according to lobbyists for Frankfurt.
  
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• Bovis Homes sets aside further £3.5m to compensate customers for poorly built properties

  07-07-2017 14:35 via feedproxy.google.com
  
  BOVIS Homes is setting aside a further £3.5million to compensate customers for poorly built homes, taking the total to £10.5million.
  
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• UK house price fall takes annual growth rate to slowest in four years

  07-07-2017 14:23 via theguardian.com
  
  Average cost of a home fell by 1% in June to £218,390, according to Halifax – the first drop it has reported in five monthsUK house prices fell unexpectedly in June, dragging the annual rate of growth to the lowest level in four years in the latest sign that consumers are shying away from major spending commitments.The average cost of a home fell by 1% over the month to £218,390 according to Halifax, one of the UK’s biggest mortgage lenders. It was the first drop reported
  
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• Fears for UK economy after weaker-than-expected growth reports

  07-07-2017 13:37
  
  Drop in manufacturing, construction slowdown and widening of trade deficit knock pound lower against dollar euroA drop in manufacturing output, a slowdown for the construction industry and a widening in Britain’s trade deficit have doused expectations that the Bank of England will raise interest rates over the coming months.
  The pound dropped sharply against the dollar and euro on Friday after the latest signs that the economic resilience seen after last summer’s Brexit vote has wane
  
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• 'Battle mood' EU threatens bourbon whiskey in US steel trade row

  07-07-2017 13:17
  
  Jean-Claude Juncker says EU would react with countermeasures within days to any action by Donald TrumpThe European Union is prepared to impose countermeasures within days if Donald Trump takes action to protect the US steel industry, the European commission president has said.
  In one of the most serious warnings of a tit-for-tat response if the US resorts to protectionist measures, Jean-Claude Juncker said the EU was “in elevated battle mood”. Targets could include American whiskey e
  
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• My partner earns far more than me but wants me to pay a half share of our bills

  07-07-2017 13:04 via theguardian.com
  
  I have a large debt and struggle to get by. He admits his costs won’t increase if I move in, so I feel upset that he could help me but is choosing not toI am a woman in my late 20s with a good career, but I struggle to get by and have £10,000 worth of debt. Some of this I borrowed from my partner to repay a credit card. I have been with him for more than a year and we are talking about me moving in with him. He earns three times what I do and is sensible with money, wh
  
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• How to make global universal healthcare a reality

  07-07-2017 12:24
  
  What is the best model to bring healthcare to all? Our experts offer 11 ideas for increasing access to health services around the world Continue reading...
  
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• Pound V euro: GBP stumbles against EUR amid EU-Japan trade agreement

  07-07-2017 12:12 via feedproxy.google.com
  
  THE pound plummeted against the euro on Thursday, retreating by around half a cent from its best levels following the announcement of a new trade deal between Japan and the EU.
  
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• It's US & UK vs Germany & China at G20 summit - Financial News (subscription)

  07-07-2017 10:45
  
  Financial News (subscription)
  It's US & UK vs Germany & China at G20 summit
  Financial News (subscription)
  With global leadership now in question, the G20's summit in Hamburg on July 7-8 could be the group's tensest meeting ever. The summit process long pre-dates the G20's founding in 1999. It was originally designed, in the 1970s, to align major economies' ...en meer »
  
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• POUND LIVE: Pound falls amid G20 tensions and latest economy data

  07-07-2017 09:50 via feedproxy.google.com
  
  THE pound tumbled on Friday amid global and economy worries, which put pressure on the currency.
  
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• Whitney Wolfe: 'I'm worried we're alienating the good guys'

  07-07-2017 08:00
  
  After leaving Tinder, its co-founder wanted to change dating’s status quo – here she talks feminism, online trolling and why her app encourages equality“You’re reading about yourself, but you feel like you’re reading about a horrible stranger,” says Whitney Wolfe, founder and CEO of dating app Bumble. “It was a very perplexing and sad time.” She’s talking of the online reaction to the lawsuit she filed against Tinder alleging that she was sex
  
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• The government must urgently roll out rate-relief fund for SMEs

  07-07-2017 08:00
  
  Firms crippled by business rate hikes are still waiting for help from the £300m hardship fund promised in the budget. The FSB is calling on the government to direct councils to activate the fund Business rates have existed in one form or another since 1572. Over the intervening 445 years, the evolution of business has seen practices move from living above the shop, to office work, homeworking, the gig economy and online trading. Related: Minister makes U-turn over £300m business rate
  
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• Feeling cross after House of Fraser failed to give me a free pen

  07-07-2017 08:00 via theguardian.com
  
  While shopping on its website I was promised a free Cross pen if I spent £200 – but it was never deliveredWhen I was making purchases on the House of Fraser website an offer popped up informing me that a free Cross pen would be added to the basket if my order exceeded £200.However, when it was delivered there was no pen or any mention of one. Customer services explained that the offer was subject to availability. I believe House of Fraser deliberately provided an incentive for
  
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• Primark sales boost lifts Associated British Foods shares

  07-07-2017 01:01 via feedproxy.google.com
  
  A PICK-UP in sales and lower mark downs at its Primark chain have put Associated British Foods on course for higher annual profit.
  
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• Lloyd's of London insurer Novae to be bought by Axis Capital Holdings

  07-07-2017 01:01 via feedproxy.google.com
  
  LLOYD’S of London insurer Novae has agreed to be bought by Bermuda-based insurance group Axis Capital Holdings for £467.6 million.
  
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• Just Eat appoints former Moneysupermarket boss as new chief executive

  07-07-2017 01:01 via feedproxy.google.com
  
  TAKEAWAY delivery website Just Eat has ordered up former Moneysupermarket.com boss Peter Plumb as its next chief executive.
  
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