Financial news

• RBS back in the black as bank posts first-half year profits for for three years

  04-08-2017 22:40 via feedproxy.google.com
  ROYAL Bank of Scotland boss Ross McEwan said there is “light at the end of the tunnel” for the Government-controlled lender after it posted its first half-year profit for three years and made big strides towards resolving the misconduct and state-aid issues that have dragged it down since the financial crisis.
  
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• Eurozone GDP Grows Twice Faster Than UK - Financial Tribune

  04-08-2017 21:45
  Eurozone GDP Grows Twice Faster Than UK
  Financial Tribune
  The eurozone economy confirmed a robust expansion in the second quarter of the year, growing twice as much as Britain for the second consecutive quarter, preliminary estimates released by the European Union's statistics agency showed. Most analysts ...
  
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• Martin Shkreli found guilty of fraud by jury in New York

  04-08-2017 20:56 via theguardian.com
  The 34-year-old pharmaceutical entrepreneur found guilty on three of eight federal charges that he deceived investors in a pair of failed hedge fundsMartin Shkreli, the hedge fund manager turned pharmaceutical entrepreneur once dubbed “the most hated man in America”, has been found guilty on three of eight federal charges that he deceived investors in a pair of failed hedge funds. Related: Will Martin Shkreli's fraud conviction wipe the smirk off his face? | Arwa MadhawiContinue read
  
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• The UK Takes Its Brexit Fears to the Bank - U.S. News & World Report

  04-08-2017 19:41
  U.S. News & World Report
  The UK Takes Its Brexit Fears to the Bank
  U.S. News & World Report
  The EU's 'passporting' rules are stirring British anxiety and threatening London's position as a global banking hub. The U.K. Takes Its Brexit Fears to the Bank. MORE. LinkedIn · StumbleUpon · Google +; Cancel. (Daniel Leal-Olivas/AFP/Getty Images) ...en meer »
  
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• Air passengers face delays due to strikes and tighter border controls

  04-08-2017 19:28 via theguardian.com
  Holidaymakers advised to allow extra travel time after introduction of tighter checks on non-Schengen passportsHolidaymakers could face long delays as a result of industrial action at some Spanish airports and tighter border controls across Europe on one of the busiest weekends of the year.Airlines have advised passengers to allow extra time and prepare for long delays, while one travel organisation said the elderly and young should take special precautions. Continue reading...
  
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• Cowes Week sailing extravaganza spawns a renting boom in Isle of Wight

  04-08-2017 18:58 via theguardian.com
  Super rich sailors are spending more money renting houses for regatta than local people pay in rent for the entire yearWhen a house that normally rents for £500 a week can find a tenant willing to pay £16,000 for a nine-day let, it is a sure sign that there is big money in town.The town is Cowes, in the Isle of Wight, and the money arrives with the annual Cowes Week sailing extravaganza. Sailors, socialites and the super-wealthy descended on the island this week for the 191-year-old
  
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• UK car industry facing an 'utterly demoralising' Brexit

  04-08-2017 18:01 via theguardian.com
  Leaving the EU will reverse the progress made in past decades and may wipe out small suppliers, says Britain’s motor societyAs the latest car figures show that uncertainty over Brexit is helping to drag down sales, motor manufacturers fear the industry’s revival over the past couple of decades could be put at risk by Britain’s departure from the European Union.Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), said: “A lot of people have
  
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• Let’s move to Herne Bay, Kent: classic caffs and crazy golf

  04-08-2017 17:30 via theguardian.com
  Sandwiched between Whitstable and Margate is the seaside that time forgotWhat’s going for it? Funny how some places change by the hour – blink, and the Poundland’s been magicked into a slam-poetry cafe – while others are the still, immovable eye of the storm. I’ve been coming to Herne Bay for decades and, OK, so the bandstand has been (nicely) restored, but little else has changed. This seaside town still seems wedged in the age of Charles Hawtrey and the three-day
  
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• Flight delays and cancellations: your rights explained

  04-08-2017 17:27 via theguardian.com
  Passengers flying to and from Europe have been warned about lengthy airport delays. Here’s what you are entitled toBritish passengers flying to and from continental Europe over the coming weeks have been warned about possible long delays at airports. Many flights have been delayed because of the tighter border checks. And at Barcelona airport, security staff have begun a series of rolling strikes.
  For some holidaymakers the long queues are a massive inconvenience – aggravated by swel
  
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• SHOCK WARNING: Interest rates could soon RISE, Bank of England deputy says

  04-08-2017 17:00 via feedproxy.google.com
  FAMILIES should prepare for interest rates to rise, as the UK economy has become stronger, according to the Bank of England's deputy governor.
  
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• Credit crunch, 10 years on: fate of RBS shows global crisis is not over

  04-08-2017 16:55 via theguardian.com
  As RBS remains in the red, in the third part of our series financial experts ask whether enough has been done to prevent a repeat of the global crashTen years ago, Royal Bank of Scotland was battling with Barclays to take over a Dutch rival, ABN Amro. RBS eventually slapped £49bn on the table and won. It was to be a transformational deal, and it certainly was – but not in any way that the boss of RBS at the time, Sir Fred Goodwin, had ever planned. Today, the Edinburgh-based bank is
  
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• Help To Buy: Fears first-time buyer scheme will be AXED

  04-08-2017 16:33 via feedproxy.google.com
  VITAL help for first-time buyers could be pulled by the Government following a review of the Help To Buy scheme, experts fear.
  
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• Revealed: Northern Ireland MPs' financial interests published - Belfast Telegraph

  04-08-2017 14:51
  Belfast Telegraph
  Revealed: Northern Ireland MPs' financial interests published
  Belfast Telegraph
  MPs are required to declare any financial interest which "others might reasonably consider to influence his or her actions or words as a member of Parliament". Many of the 650 MPs have declared various items such as tickets to Wimbledon, Royal Ascot ...
  
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• Next shares soar as it returns to sales growth after warm weather boost

  04-08-2017 14:51 via feedproxy.google.com
  NEXT shares rallied 10 per cent yesterday as it returned to sales growth in the second quarter after a warm weather boost.
  
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• Brexit Banking Boost: UK financial sector to DOUBLE in size after EU exit ... - Express.co.uk

  04-08-2017 14:41
  Express.co.uk
  Brexit Banking Boost: UK financial sector to DOUBLE in size after EU exit ...
  Express.co.uk
  BRITAIN'S financial sector is predicted to double in size over the next 25 years, according to the Bank of England Governor Mark Carney. By Will Kirby. PUBLISHED: 12:06, Fri, Aug 4, 2017 | UPDATED: 13:41, Fri, Aug 4, 2017 ...
  UK financial sector could DOUBLE in size as it flourishes after Brexit, says Bank ...The Sun
  UK financial sector may double in size, says CarneyHerald Scotland
  Th
  
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• Pound PLUNGE: Holidaymakers get LESS than one euro in fresh getaway misery

  04-08-2017 14:14 via feedproxy.google.com
  BRITISH holidaymakers heading to Europe for summer holidays face dismal pound to euro exchange rates at the airport, experts have warned.
  
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• Brexit Banking Boost: UK financial sector to DOUBLE in size after EU exit, Carney claims

  04-08-2017 13:06 via feedproxy.google.com
  BRITAIN’S financial sector is predicted to double in size over the next 25 years, according to the Bank of England Governor Mark Carney.
  
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• EU beauty pageant: cities vie to host agencies departing UK - Financial Post

  04-08-2017 12:13
  Financial Post
  EU beauty pageant: cities vie to host agencies departing UK
  Financial Post
  New circular skyscraper The Westhafen Tower in Frankfurt, Germany, Thursday, Aug. 3, 2017, where office space is cheap and plentiful. Five months after Britain formally announced it was leaving the European Union, its partners in twenty-three cities ...en meer »
  
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• Why Trumponomics cannot make America great again

  04-08-2017 11:40 via theguardian.com
  Given the Trump presidency’s political ineffectiveness it is hard to envisage much changing economically either, be it growth, trade or taxNow that US President Donald Trump has been in office for six months, we can more confidently assess the prospects for the US economy and economic policymaking under his administration. And, like Trump’s presidency more generally, paradoxes abound.The main puzzle is the disconnect between the performance of financial markets and the real. While st
  
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• ‘Grassroots means no brains': How to tackle racism in the aid sector

  04-08-2017 11:22 via theguardian.com
  We believe that structural racism impedes the progress of global development. Here are four ideas for greater equality in the sector“I am so tired of dealing with ‘grassroots’ organisations here in Haiti. Unfortunately ‘grassroots’ means no brains and no money.”“It doesn’t matter. Ethiopians don’t care about their children anyway.” Continue reading...
  
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• POUND LIVE: Pound at 10-month low against euro in blow for holidaymakers

  04-08-2017 09:34 via feedproxy.google.com
  THE pound is at its lowest level against the euro since last October, eroding the spending power of British holidaymakers heading to the continent during the school holidays.
  
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• 'Faster, cheaper, cleaner': experts disagree about Elon Musk's Hyperloop claims

  04-08-2017 09:00 via theguardian.com
  Elon Musk claims Hyperloop pods will be faster than trains, safer than cars and less damaging to the environment than aircraft. But is that likely to be true?Elon Musk’s plans for magnetically-levitated pods are back in the news after South Korea signed an agreement to develop a full-scale Hyperloop testbed, with the intention of ultimately building a system to zip across the country in 20 minutes.Slovakia, Abu Dhabi, the Czech Republic, France, Sweden and Indonesia are also interested in
  
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• Pearson to axe 3,000 jobs after slump at main US business

  04-08-2017 08:58 via theguardian.com
  Cost-cutting move aims to save educational publisher around £300m a year with a 10% cut in global staff after biggest loss in history in 2016Pearson is to cut 3,000 jobs as the embattled company looks to slash costs after a slump at its US higher education business.The world’s largest education company, which has issued five profit warnings in the last four years, intends to cut about 10% of its 32,000 global workforce.Continue reading...
  
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• RBS plans move to Amsterdam for post-Brexit EU hub

  04-08-2017 08:44 via theguardian.com
  UK taxpayer-owned bank reports first half-yearly profit for three years with full-year loss likely as it outlines plan to ensure passporting rights continueRoyal Bank of Scotland has revealed it is in discussions about using Amsterdam as its post-Brexit EU hub as it reported it had made a profit in the first six months of the year.It is the first half-year profit for the bank – in which the taxpayer still owns a 71% stake – in three years.Continue reading...
  
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• Photographer funds a world trip with his camera – in pictures

  04-08-2017 08:00 via theguardian.com
  Freelance photographer Richard Tilney-Bassett has spent a year travelling the world, exchanging his photography skills for accommodation, food and travel. He reveals what he learned along the way Continue reading...
  
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• Are we in for a fishy deal? – Brexit Means podcast

  04-08-2017 08:00 via theguardian.com
  Jon Henley and his team of experts dive into the murky waters of the UK fishing industry, one of the loudest voices for the leave campaign. What is the future of fisheries now that just over half of us voted out of the EU? Could we go it alone or are we heading for a fishy deal?Subscribe to us on iTunes, Audioboom, Mixcloud, Soundcloud and Acast and join the discussion on Facebook, Twitter and emailFishing is not a big industry: it represent less than 1% of the UK’s GDP. But it is a big Br
  
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• Two international Qantas flights return to Sydney airport after technical issues

  04-08-2017 07:47 via theguardian.com
  Dallas-bound flight Airbus QF7 returned to Australia after problem with wing flaps while the QF63 Johannesburg flight turned back due to crack in windowTwo Qantas flights have dumped fuel and are returning to Sydney airport after circling just off the coast.Airbus A380 QF7 took off from Kingsford Smith Airport just before 2pm, bound for Dallas Fort Worth in the United States but flight radars detected the plane circling and dumping fuel following a “technical issue”. Continue reading
  
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• How Britain fell out of love with the free market

  04-08-2017 07:00 via theguardian.com
  Under Thatcher and Blair, it looked unassailable. But now both Britain’s main parties are turning away from unfettered capitalism. By Andy BeckettTwelve years ago, shortly after winning his third consecutive general election, Tony Blair gave the Labour party a brief lecture on economics. “There is no mystery about what works,” he said, crisply, speaking from a podium printed with the slogan “Securing Britain’s Future” at the party conference in Brighton. &ldqu
  
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• End Brexit squabbles and focus on transitional deal, IoD urges ministers

  04-08-2017 01:01 via theguardian.com
  Business leaders warn of pressing need for government to agree plan to minimise risks of chaotic, cliff-edge departureMinisters need to stop feuding and agree on the shape of the transitional deal Britain wants before any future trading relationship with the EU is finalised, business leaders have warned.“There is an urgent need for government to engage properly on the most imminent risk to business from Brexit: what happens, or doesn’t, on Brexit day,” the Institute of Director
  
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• DFS shrugs off tough trading conditions by forking out £25 million for rival Sofology

  04-08-2017 01:01 via feedproxy.google.com
  FURNITURE retailer DFS has shrugged off tough trading conditions by forking out £25 million for rival Sofology.
  
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