Financial news

• The UK’s Brexit negotiators are powered by little more than hope

  22-07-2017 18:00 via theguardian.com
  David Davis and Liam Fox may believe that Britain can have its cake and eat it, but few others doDon’t worry, the Brexiters say – when the negotiations reach their nail-biting conclusion, Brussels will cave in.In parliament, there are more than enough Tory backbench MPs who hold this view to stymie any backsliding by chief negotiator David Davis and his cabinet colleagues. Or so they think. Continue reading...
  
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• Paysafe: Shares soar after £2.9 takeover bid from Blackstone and CVC

  22-07-2017 15:42
  PAYSAFE has emerged as a £2.9billion takeover target for private equity as a growing shift from consumers using cash to using mobile devices to pay for goods and services triggers a flurry of financial technology deals.
  
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• What I’m really thinking: the burned-out businessman

  22-07-2017 10:00 via theguardian.com
  ‘I sailed on, hitting target after target, until one day I couldn’t do it any more’Everyone told me to be careful. “Watch out: you’re burning the candle at both ends.” “Maybe you could do with some support?” And I would wave them away dismissively. Of course I could cope. They hadn’t seen anything yet. So I sailed on, hitting target after target, making my company more successful than it had ever been until suddenly I couldn’t do i
  
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• Letter to my younger self: you'll have no money and live in a squat. Don't panic

  22-07-2017 10:00 via theguardian.com
  After a spell in the armed forces, a failed business and falling out with a co-founder, Logan Hall started Rebel Hack Studios with people he could trustDear Logan,You’ve just finished your A-levels and are contemplating your future. I think we both know you could’ve done better. Everyone, including yourself, had expected you to become a doctor, vet or architect. Instead, you decide to go into the military. You’ll end up far from where you intended but hold on to your ethics and
  
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• Greed is no longer good – bond boom comes to an end

  22-07-2017 09:00 via theguardian.com
  Profits at Goldman Sachs fall 40% with other investment banks badly hit as calm returns to the marketsCity bond traders have put the champagne on ice. They had a good run. For some it lasted almost a year. But it’s over now and the “new normal” of low trading volumes and weak profits is reasserting itself.On Wall Street, Goldman Sachs took the biggest hit. This week the firm reported profits had plunged 40% in the second quarter on its bond, currency and commodities trading des
  
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• Your state pension in Dorset: £124,000. In Glasgow? £38,000 | Patrick Collinson

  22-07-2017 08:00 via theguardian.com
  The UK’s ‘one size fits all’ pension is simplistic, ignoring regional differences and life expectancyThe prosperous countryside of east Dorset is home to Britain’s longest living residents, with the average male at birth expected to survive 82.9 years. Maybe it won’t make too much difference to their financial futures that the government said this week that it would raise the state pension age to 68 sooner than planned. They will still be collecting their state pens
  
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• Your state pension in Dorset: £124,000. In Glasgow? £38,000

  22-07-2017 08:00 via theguardian.com
  The UK’s ‘one size fits all’ pension is too simplistic, ignoring regional differences and life expectancyThe prosperous countryside of east Dorset is home to Britain’s longest living residents, with the average male at birth expected to survive 82.9 years. Maybe it won’t make too much difference to their financial futures that the government said this week that it would raise the state pension age to 68 sooner than planned. They will still be collecting their state
  
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• Sun, sea, sand … and a last-minute money-saving holiday guide

  22-07-2017 08:00 via theguardian.com
  Not grabbed your euros or sorted out travel insurance? Yet to book airport parking? And what about which card to use? Check out our guide – but please do it in advance next year, you’ll save much more!Probably the worst currency deal is at Forexchange in Cardiff airport. Let’s say you want to head off with at least £100 of euros to cover your first few days in Spain. When Guardian Money checked the walk-up rate yesterday it would give us just €88.30 – a fa
  
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• Student Loans Company quadrupled my interest rate – just for taking a short trip

  22-07-2017 08:00 via theguardian.com
  Oxford graduate Jenny Richards is among thousands being punished with additional rate riseGraduates who fall foul of the Student Loans Company face paying back thousands of pounds more after it emerged the firm has the right to penalise students with extra interest for simply taking a three-month trip.Guardian Money has been contacted by one Oxford graduate who says she has faced a nightmare dealing with the SLC after it raised the interest on her £42,000 loan from 0.9% to 3.9% for failing
  
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• Moss Bros outfit delivery isn’t its strong suit

  22-07-2017 08:00 via theguardian.com
  The firm failed to deliver on time, but denies any issue with its customer serviceThe gentleman’s outfitters Moss Bros invites bridegrooms to “start [their] forever looking [their] sharpest ever”. For some of its customers, however, the only sharpness is the pain when their hired suits fail to turn up in time.Londoner Barry Koolen was supposed to be celebrating with friends on the night before his wedding. Instead, he was battling crowds in a shopping centre to buy an emergency
  
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• Don’t bin it … how we served the UK’s first ‘food waste wedding’ feast

  22-07-2017 08:00 via theguardian.com
  Chicken and fruit rejected by retailers were used in style when Charlotte and Nick Baker got marriedWhen Charlotte and Nick Baker were planning their wedding in Cumbria last month, they wanted a highly personal celebration that reflected their deeply held principles about minimising  waste.Unusually, that included asking a food waste charity to feed their 135 guests a three-course meal created entirely from food that would otherwise have been thrown away. “I didn’t even know unt
  
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• Should you tip in a restaurant regardless of quality?

  22-07-2017 07:59 via theguardian.com
  My partner says we should never leave a tip for bad food – but it wasn’t the server’s faultEvery week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.This week’s question: Continue reading...
  
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• 'London Whale' charges dropped against former JP Morgan traders

  22-07-2017 07:45 via theguardian.com
  Javier Martin-Artajo and Julien Grout have had charges dropped after testimony of trader Bruno Iksil ruled unreliableUS prosecutors have decided to drop criminal charges against two former JP Morgan Chase & Co derivatives traders implicated in the “London Whale” trading scandal that caused $6.2bn (£4.7bn) of losses in 2012. In seeking the dismissal of charges against Javier Martin-Artajo and Julien Grout, the Department of Justice said it “no longer believes that it c
  
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• UK government to take more time to consider Fox-Sky deal - Financial Post

  22-07-2017 07:28
  UK government to take more time to consider Fox-Sky deal
  Financial Post
  LONDON — Britain's culture secretary needs more time to consider Twenty-First Century Fox's takeover bid for the Sky pay television and broadband network. Culture Secretary Karen Bradley said Thursday in an update before Parliament breaks for recess ...en meer »
  
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• EUROZONE WARNING: Now fears for IRELAND’S economy as shock figures show nation on brink

  22-07-2017 06:38
  IRELAND’S economy is loaded with more debt and MUCH smaller than previously thought, shock figures reveal.
  
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• Boots apologises over morning-after pill pricing row

  22-07-2017 01:22 via theguardian.com
  Retailer to seek cheaper alternatives after intervention by female Labour MPs and calls for a boycott Boots has said it is “truly sorry” for the way it responded to a campaign calling for it to cut the price of emergency contraception and said it is looking for cheaper alternatives. The announcement, late on Friday night, came after news that the women’s parliamentary Labour party (PLP) had written to the store’s chief pharmacist to express “deep concern” abou
  
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• UK court blocks £14bn class action case against MasterCard

  22-07-2017 00:39 via theguardian.com
  Fledgling competition tribunal refuses to allow claim relating to 16 years of alleged overcharging to proceedA £14bn class-action lawsuit against MasterCard for allegedly overcharging more than 45 million people in Britain over a 16-year period was blocked by a British court on Friday. The competition appeal tribunal (CAT), a newly empowered court that oversees Britain’s fledgling class action regime, ruled that it would not grant the necessary collective proceedings order for the ca
  
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