Financial news

• M&S investors spooked by slowdown in food sales

  11-07-2017 21:08 via theguardian.com
  The retailer has increasingly relied on brisk trade in its upmarket food halls to prop up its struggling clothing armA slowdown in food sales at Marks & Spencer has spooked investors who have increasingly relied on brisk trade in its upmarket food halls to prop up its struggling clothing arm.M&S’s shares were marked down by more than 4% after the retailer revealed food sales in stores open more than one year had fallen over the last three months. The 0.1% decline – contrastin
  
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• The gig economy can be exploitative – but there is no easy path to Good Work | Rafael Behr

  11-07-2017 19:55 via theguardian.com
  
  Matthew Taylor’s jobs review has been castigated. Yet it is to be applauded for refusing to pretend there are easy answers• Rafael Behr is a Guardian columnistOn the first anniversary of her appointment as prime minister, Theresa May today delivered a speech from a central London venue, and also from another planet. Her homily on “fair and decent” work was broadcast from the distant realm of her imagination, where events have not eclipsed her authority. Despite electoral d
  
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• The U-turn generation: have British teenagers stopped learning to drive?

  11-07-2017 16:21 via theguardian.com
  
  Statistics show an 18% drop over 10 years in the number of teens taking driving tests – but closer inspection suggests the trend is in reverseFor decades it has been a rite of passage as vital to the nation’s young people as dramatic heartbreak and puking outside pubs. But is the tradition of learning to drive aged 17 running out of fuel? Statistics from the Driver and Vehicle Standards Agency show that the number of 17 to 25-year-olds taking the test has fallen by 18% over the past
  
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• Credit agency warns of 'considerable' risks to UK economy - Financial Post

  11-07-2017 14:07
  
  Financial Express
  Credit agency warns of 'considerable' risks to UK economy
  Financial Post
  LONDON — Credit ratings agency Standard & Poor's has warned that economic growth in Britain will slow sharply over the coming couple of years and that uncertainties related to the country's exit from the European Union raise further “considerable ...
  European Union parliament condemns UK Brexit proposals on citizen rightsFinancial Expressalle 420 nieuwsartikelen »
  
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• Black cab turns green as all-new electric London taxi launches

  11-07-2017 13:50 via theguardian.com
  
  Cab maker ditches diesel to produce a petrol and electric-powered taxi that will be rolled out in NovemberThe maker of the London black cab has unveiled the new, electric design of the car, which will hit the capital’s roads in November and which it hopes to sell to pollution-blighted cities worldwide.Known as the London Taxi Company since 1948, the firm will rebrand as the London Electric Vehicle Company (LEVC) to export the new model, which runs for about 70 miles off a battery before sw
  
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• Banning zero-hours contracts would do more harm than good, says Theresa May - Politics live

  11-07-2017 12:57 via theguardian.com
  
  Rolling coverage of the day’s political developments as they happen, including Theresa May’s speech at the launch of the Taylor report on employment in the modern economy 11.56am BSTThe BBC verdict on the May speech is not encouraging. If you’re PM and even the BBC are saying your speech is duff, you’ve got problems. Here’s another tweet from Laura Kuenssberg. (See 11.44am for the others.)Difficult to acknowledge her own failings + not add to sense of weakness, but
  
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• S&P warns of UK slowdown as markets await interest rate hint from Ben Broadbent – business live

  11-07-2017 12:56 via theguardian.com
  
  All the day’s economic and financial news, including a key speech by BoE deputy governor Ben Broadbent in AberdeenS&P: Inflation and Brexit will hurt growthLatest: Broadbent speech moved to 1.30pmIntroduction: Broadbent to join battle on interest rates
  What the hawks and doves have saidAndy Haldane also speaking this morning 11.56am BSTOver in Paris, some of the world’s top bankers have been discussing their plans for Brexit at a financial forum.Stuart Gulliver, CEO of HSBC, told
  
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• UK financial services THRIVING with profits built and more staff employed - Express.co.uk

  11-07-2017 12:49
  
  Express.co.uk
  UK financial services THRIVING with profits built and more staff employed
  Express.co.uk
  THE UK cemented its status as a financial services centre as banks and insurers built profits and took on staff in the three months to June. PUBLISHED: 11:40, Tue, Jul 11, 2017 | UPDATED: 11:48, Tue, Jul 11, 2017 ...
  UK financial services firms remain downbeat despite growthThe Independent
  UK financial services confidence fell before general electionFund Strategy
  UK financial services sect
  
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• Could this promising growth stock help you achieve financial ... - AOL UK

  11-07-2017 12:37
  
  AOL UK
  Could this promising growth stock help you achieve financial ...
  AOL UK
  Shares in price comparison website Go Compare(LSE: GOCO) climbed almost 6% in early trading this morning, building on the 50% rise already seen since the ...en meer »
  
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• Gig economy workers should get more protection: UK report - Financial Post

  11-07-2017 11:29
  
  Gig economy workers should get more protection: UK report
  Financial Post
  LONDON — A former adviser to Tony Blair is unveiling a much-anticipated report on the so-called gig economy, and has advised additional protection for workers in the face of vanishing job security. Matthew Taylor's study concluded that a new category ...en meer »
  
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• Pearson sells slice of Penguin for $1bn

  11-07-2017 10:07 via theguardian.com
  
  The beleaguered FTSE 100 firm strengthens balance sheet by selling a 22% stake to Bertelsmann in deal valuing the publishing giant at $3.55bn Pearson has sold a 22% stake in Penguin Random House, the world’s biggest publisher, with titles ranging from Fifty Shades of Grey, Jamie Oliver and The Girl on the Train. The deal values Penguin at $3.55bn (£2.75bn).Pearson put its holding in PRH up for sale in January after issuing a string of profit warnings in its educational publishing bus
  
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• Grace is 25. Her student debt: £69,000

  11-07-2017 08:14 via theguardian.com
  
  With graduates facing a lifetime of debt – at 6.1% interest – pressure is growing for a rethink on tuition fees and maintenance loans. But what should replace them?
  • Opinion: Penalising this generation is morally whiffyWhen Grace Parkins opened her first statement from the Student Loans Company she wasn’t prepared for what she saw. After four years studying she discovered she was now more than £69,000 in debt.Parkins was one of the first generation of students to si
  
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• Shipping companies urged to stop using dirty fuels in the Arctic

  11-07-2017 08:00 via theguardian.com
  
  Shipping companies are under pressure to phase out use of heavy fuels, as world’s first hybrid battery-powered cruise ship set for launch in 2018Shipping companies are under pressure to phase out use of heavy fuels ahead of a potential ban on their use in the Arctic in the coming years. The International Maritime Organisation has approved an environmental review of the use of heavy fuel oil (HFO) by ships in the Arctic. Already banned in Antarctica, HFO is a dense and viscous byproduct of
  
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• ‘People take a chance on you here’: female entrepreneurs in Iraqi Kurdistan

  11-07-2017 08:00 via theguardian.com
  
  The region’s capital, Erbil, is attracting women who find the city frees them to fulfil long-held ambitions to launch their own businesses
  There’s a baseball bat propped up against the wall in Shara Kenworthey’s tattoo studio. Discreetly tucked behind a hand-painted turquoise filing cabinet of needles and ink, it’s a just-in-case weapon, easily grabbed should something go wrong. “So far, I’ve never had to use it,” the 28-year-old says. “But there h
  
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• Left hanging on as Virgin and Bellway pass the buck for new phone line

  11-07-2017 08:00 via theguardian.com
  
  Six weeks on, there’s no sign of being connected in my new-build house and both companies blame the otherSix weeks after moving into a new-build house I am still without a phone line and broadband connection.Virgin Media tells me it has yet to be notified by the developer that the infrastructure is complete. The developer, Bellway, insists it has contacted Virgin to confirm this several times and that it’s powerless to speed matters up. TW, Leeds Continue reading...
  
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• Indie brewers fight back in bitter row over beer brands' craft credentials

  11-07-2017 07:00 via theguardian.com
  
  Trade body says drinkers deserve to know whether they are buying genuine craft beer or one made by a multinationalCamden Town, Goose Island, Blue Point, Meantime, Hop House 13, Blue Moon, Sharp’s Doom Bar, Lagunitas and London Fields. This pub cellar’s worth of beer brands have one thing in common: they are widely perceived as “craft” brews but are actually owned by multinational companies.To some drinkers, the company behind the pint does not matter, as long as what is i
  
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• How economics became a religion | John Rapley

  11-07-2017 07:00 via theguardian.com
  
  Its moral code promises salvation, its high priests uphold their orthodoxy. But perhaps too many of its doctrines are taken on faith. By John RapleyAlthough Britain has an established church, few of us today pay it much mind. We follow an even more powerful religion, around which we have oriented our lives: economics. Think about it. Economics offers a comprehensive doctrine with a moral code promising adherents salvation in this world; an ideology so compelling that the faithful remake whole so
  
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• Why a population of, say, 15 million makes sense for Australia

  11-07-2017 06:54 via theguardian.com
  
  Population growth has profound impacts and sorting myths from facts can be difficult. In a new series, the Conversation looks at the issue Neither of Australia’s two main political parties believes population is an issue worth discussion, and neither now has a policy about it. The Greens think population is an issue but can’t come at actually suggesting a target.
  Even those who acknowledge that numbers are relevant are often quick to say that it’s our consumption patterns, and
  
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• Bond giants retain stranglehold on UK pension assets - Financial News (subscription)

  11-07-2017 01:06
  
  Bond giants retain stranglehold on UK pension assets
  Financial News (subscription)
  Liability-driven investment has now swallowed up so much of the UK's pensions market it might even risk the future of active stockpickers, according to KPMG. Collectively, UK pension funds now have around half of their money under management in LDI, ...
  
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• May relaunches premiership with new protections for gig economy workers

  11-07-2017 01:01 via theguardian.com
  
  Government review calls for a new category of worker – ‘dependent contractor’ – to differentiate from self-employed among draft protectionsTheresa May will promise to avoid piling any additional red tape on to companies at the launch of a major government-commissioned report into the world of work, which sets out new protections for workers in the gig economy.The prime minister will use a speech – which is also about relaunching her premiership after losing her majo
  
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