Financial news

• Lego replaces British chief after just eight months at helm

  10-08-2017 20:51 via theguardian.com
  Toymaker installs 51-year-old Dane, saying Bali Padda was always going to step down after a few years at the most due to his ageLego has replaced its British chief executive, the first non-Danish person to run the toy company, after just eight months, saying that at the age of 61 he was never expected to be in the position long-term.The toymaker said Bali Padda would make way for Niels Christiansen, a 51-year-old former chief executive of Danfoss, a Danish manufacturing and technology company. C
  
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• Amazon paid just £15m in tax on European revenues of £19.5bn

  10-08-2017 20:39 via theguardian.com
  Online retailer’s UK warehouse and logistics operation more than halved its corporation tax bill from £15.8m to £7.4mAmazon paid just €16.5m (£15m) in tax on European revenues of €21.6bn (£19.5bn) reported through Luxembourg in 2016.The figures, published in Amazon’s latest annual accounts for its European online retail business, are likely to reignite the debate about US tech companies using complex crossborder arrangements to minimise the tax they
  
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• Thousands of Asda workers face redundancy or reduced hours

  10-08-2017 20:38 via theguardian.com
  UK’s third-largest supermarket targets staffing levels to cut costs after worst annual results since Walmart takeoverThousands of Asda workers are facing redundancy or a dramatic cut in their working hours as Britain’s third-largest supermarket chain looks to cut costs.Asda has begun a consultation with 3,257 employees in 18 underperforming stores, singled out as overstaffed relative to their current sales performance. Continue reading...
  
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• Bank of England takes note on banknotes (but that's all) | Nils Pratley

  10-08-2017 20:27 via theguardian.com
  The listening bank? The BoE is sticking with traces of animal products in its notes despite 88% of respondents in its consultation saying it shouldn’tHas the Bank of England got the hang of this public consultation lark? On the vexed question of whether the nation’s banknotes should contain traces of animal products, 88% of respondents to the Bank’s survey said they shouldn’t. Threadneedle Street’s response to the respondents? Tough luck, we’re sticking with o
  
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• 10 years after the crash, alternatives are emerging | Letters

  10-08-2017 20:12 via theguardian.com
  David Murray on debunking economic myths; Les Bright on politicians with no answers; Ed Runham on Labour being unfairly blamed; Alan Cleaver on banks having learned nothing; and Frank Field MP on a programme to boost wagesAs Torsten Bell notes, those in Whitehall failed to see the crash coming (We let the financial crisis go to waste, 9 August), but a significant number of non-neoclassical economists did – it’s just that they weren’t listened to. It’s possible that Bell i
  
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• Want a cheap holiday? Avoid Spain, says Tui boss

  10-08-2017 19:41 via theguardian.com
  Operator says Spain is in high demand this summer but bargains can be had elsewhere such as Bulgaria and Cape VerdeEuropean holidaymakers could turn to destinations such as Bulgaria and Cape Verde if they want to avoid high prices in busy Spanish destinations, the chief executive of European tourism group Tui said on Thursday. Related: Britons shunning two-week holidays in favour of short breaksContinue reading...
  
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• TalkTalk fined £100,000 for not protecting customers' personal data

  10-08-2017 19:27 via theguardian.com
  Broadband provider found to have put 21,000 subscribers’ data at risk by allowing ‘rogue’ staff at Indian contractor access to itTalkTalk has been fined £100,000 by the Information Commissioner’s Office (ICO) after the telecoms giant was found to have placed personal data from 21,000 customers at risk.An ICO investigation found the company breached data protection laws after staff from an IT firm working with TalkTalk were able to access large amounts of customer da
  
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• UK trade deficit widens as fall in sterling fails to improve export sales

  10-08-2017 17:13 via theguardian.com
  Brexit negotiators urged to safeguard terms of trade with EU amid signs UK becoming more dependent on deals with bloc Britain’s trade position with the rest of the world worsened in June as the sharp fall in the value of the pound since the Brexit vote failed to lift sales of UK-made goods abroad.The trade in goods deficit widened unexpectedly to £12.7bn, from £11.3bn in May, as exports fell by 2.8% but imports rose by 1.6% according to the Office for National Statistics. It wa
  
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• Gold price rush: North Korea Trump nuclear panic triggers market dash to shelter money

  10-08-2017 17:13 via feedproxy.google.com
  GOLD prices have surged as investors rush to safeguard money amid heightened tensions between North Korea and Donald Trump.
  
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• STAMP DUTY SHOCK: Excluding downsizing pensioners from would RAISE £186M, Chancellor told

  10-08-2017 17:05 via feedproxy.google.com
  PENSIONERS would be more likely to move to smaller homes if they were exempt from stamp duty, freeing up housing and generating activity in the market worth £186million, according to research.
  
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• Breakthrough in leasehold scandal, plus cash grabs by Student Loans Company

  10-08-2017 16:15 via theguardian.com
  Also, UK housing market comes to a standstill and our consumer champions do battle with Fitbit and Virgin Mobile
  Sign 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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• REVEALED: Shock graph showing just how ECB has propped up DEBT ADDICTED Eurozone

  10-08-2017 14:43 via feedproxy.google.com
  THE eurozone has built up a dangerous addiction to debt, which is laid bare in a stark graph of the European Central Bank's balance sheet.
  
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• The experts strike back! How economists are being proved right on Brexit | Barry Eichengreen

  10-08-2017 14:41 via theguardian.com
  The only surprise is that the experts’ predicted economic consequences of Brexit took so long to materialiseThe Brexit debate is an endless source of mirth for anyone with a dark sense of humour. My favourite quote is from Michael Gove, Britain’s environment secretary.Just before the EU referendum in June last year, Gove, then justice secretary in David Cameron’s government, dismissed the all-but-unanimous view of economists and others that a decision to leave the EU would deep
  
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• LIDL makes it a sparkling summer as Brits go big on the bubbles 

  10-08-2017 13:10 via feedproxy.google.com
  CRÉMANT is the new cool fizz for summer according to supermarket giant Lidl which has seen its star turn. a £7.99 Crémant de Bourgogne Blanc, scoop the same international wines award as top dollar champagnes.
  
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• REVEALED: The retirees with the best pensions in Britain - do you make the list?

  10-08-2017 12:50 via feedproxy.google.com
  PENSIONERS enjoying the richest retirements in the country have three 'golden' factors in common, analysis has revealed.
  
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• Co-op cuts losses to £135 million but loses 25,000-plus customers

  10-08-2017 12:12 via feedproxy.google.com
  TROUBLED lender the Co-operative Bank has narrowed half-year losses, but continued to shed banking customers and borrowers amid uncertainty ahead of its recent rescue deal.
  
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• Prudential to merge M&G with UK insurance arm - Financial News (subscription)

  10-08-2017 12:09
  Financial News (subscription)
  Prudential to merge M&G with UK insurance arm
  Financial News (subscription)
  Prudential, the FTSE 100 life insurer, is combining its fund management business with its UK and European life insurance arm, in a move that underlines the evolution of Britain's traditional high-street insurers into investment businesses. Analysts ...en meer »
  
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• Amazon paid 50 per cent LESS tax last year as turnover breaks the £1bn barrier

  10-08-2017 12:05 via feedproxy.google.com
  INTERNET giant Amazon saw a 50 per cent fall in the amount of UK corporation tax it paid last year while it saw a 54 per cent increase in turnover in the same period.
  
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• Legal & General profits boosted by slowing life expectancy

  10-08-2017 11:20 via feedproxy.google.com
  SLOWING life expectancy has boosted Legal & General as the insurer beat forecast half-year profits.
  
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• Homewares retailer Cath Kidston returns to profit after booming international sales

  10-08-2017 10:50 via feedproxy.google.com
  FEWER promotions and booming international sales helped Cath Kidston return to profit last year.
  
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• Stock Spirits boosted by strong demand for flavoured vodka in Poland

  10-08-2017 10:40 via feedproxy.google.com
  STRONG demand for flavoured vodka in Poland helped Stock Spirits toast higher half-year profit.
  
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• Armed police called to Heathrow over British Airways flight delay

  10-08-2017 10:22 via theguardian.com
  Tensions mounted as passengers trying to fly from London to Las Vegas were stranded for two daysArmed police have been called to Heathrow airport after passengers became angry that a British Airways flight was delayed for two days.People were left stranded when technical problems grounded the Boeing 747 due to fly from Heathrow to Las Vegas on Sunday. They thought they would be on their way the following day but a problem with their baggage meant the rescheduled flight was also held. Continue re
  
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• The rise of electric cars could leave us with a big battery waste problem

  10-08-2017 10:15 via theguardian.com
  Carmakers, recyclers and tech start ups are working to solve the question of how to deal with lithium-ion batteries when they wear out
  The drive to replace polluting petrol and diesel cars with a new breed of electric vehicles has gathered momentum in recent weeks. But there is an unanswered environmental question at the heart of the electric car movement: what on earth to do with their half-tonne lithium-ion batteries when they wear out?
  British and French governments last month committed to ou
  
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• Tavistock Financial sold to Sanlam UK - Insider Media

  10-08-2017 10:14
  Insider Media
  Tavistock Financial sold to Sanlam UK
  Insider Media
  The AIM-listed parent of Cheltenham-headquartered Tavistock Financial has agreed to sell the provider of compliance and oversight services to financial advisers to Bristol-based Sanlam UK for £1m, subject to FCA approval. The sale of the business by ...
  Tavistock Investments sells financial services business to Sanlam UK for £1mln ...Proactive Investors UKalle 7 nieuwsartikelen »
  
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• POUND LIVE: Pound rises as Brexit industrial boom set to lift economy

  10-08-2017 09:38 via feedproxy.google.com
  THE pound lifted against the euro as Britain's latest industrial output jumped, in an expected boost for Britain's economy.
  
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• Sanlam UK to acquire Tavistock Financial for £1m - Investment Week

  10-08-2017 09:16
  Sanlam UK to acquire Tavistock Financial for £1m
  Investment Week
  Sanlam UK is set to acquire Cheltenham-based Tavistock Financial's network of 158 financial advisers, along with 25 support staff, from Tavistock Investments in a deal worth £1m. Completion of the acquisition, which is part of Tavistock Investments ...
  
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• Sanlam UK to acquire Tavistock Financial for £1m - www.professionaladviser.com

  10-08-2017 09:04
  www.professionaladviser.com
  Sanlam UK to acquire Tavistock Financial for £1m
  www.professionaladviser.com
  Jonathan Polin: "This is another significant milestone in our mission to build a client-centric, advice-led and outcome-focused business." Julian Marr; 10 August 2017. Tweet. Facebook. LinkedIn. Google plus. Send to. Print this page. 0 Comments. Sanlam ...
  
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• Virgin refuses to refund credit on dead friend’s mobile phone

  10-08-2017 08:01 via theguardian.com
  There was almost £300 pounds in the pay as you go account but phone company will not give it backI am helping an elderly friend sort out his affairs following his wife’s death. I phoned Virgin Mobile for his wife’s pay-as-you-go account to be put into his name. We discovered there was £271.75 credit on the account, which I asked to be refunded since my friend is unlikely to use this. We think his wife topped up her account in error during her illness.Continue reading...
  
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• Wonky veg revolution: the tech pioneers who are reducing food waste

  10-08-2017 08:00 via theguardian.com
  Meat and fruit sold in supermarkets can be months old, but a bunch of new startups are getting produce to the dinner table faster with less wasteHalf past four on a Monday morning is not a time when most of us are feeling perky. But Rich Osborn seems remarkably cheerful as he zips south along the A46 towards his fresh food distribution hub in Keynsham, Somerset. Continue reading...
  
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• 'Political uncertainty' blamed for slowdown in UK property market

  10-08-2017 07:01 via theguardian.com
  Low stock numbers and tax changes are also hindering housing market, and prices will remain flat for next year, say surveyorsThe property market has ground to a halt, with activity back to 2011 levels in some parts of the UK, according to the official surveyors’ body, which blamed “political uncertainty” and forecast flat prices and rents for at least the next year.A large majority of surveyors in both London and south-east England are reporting falling prices, though the natio
  
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• North Korea’s warmongering with Donald Trump hits global stock market raising pension fear

  10-08-2017 04:54 via feedproxy.google.com
  FEARS of nuclear war between the US and North Korea have hit global stock markets, threatening the pension savings of millions of Britons.
  
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• Pound v US dollar: GBP weakens against USD as UK trade deficit widens

  10-08-2017 01:01 via feedproxy.google.com
  THE pound remained on the back foot against the US dollar this morning as the UK released some disappointing trading figures.
  
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• Pound V euro: UK trade deficit at nine-month low, but GBP rises on North Korea tensions

  10-08-2017 01:00 via feedproxy.google.com
  A MIXED slew of UK data this morning is providing only soft support for the GBP/EUR exchange rate, which is currently trading up 0.2 per cent at €1.107.
  
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