Financial news

• UK credit and debit card spending ​growing​ at fastest rate since 2008

  21-08-2017 20:12 via theguardian.com
  New figures showing borrowing is rising more than five times faster than earnings come after warnings from Bank of England New figures show spending on credit, debit and charge cards is growing at the fastest rate since 2008, rising more than five times faster than earnings in a fresh sign of ballooning borrowing by consumers.The number of card transactions increased by 12.3% over the year to the end of June, according to the banking trade body UK Finance, coming amid a boom in consumer debt tha
  
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• Quantitative easing is a costly habit we should have kicked long ago | Larry Elliott

  21-08-2017 19:44
  Ex-Treasury mandarin Lord Macpherson is right to compare QE to heroin – it required ever bigger doses to get a highThings have moved on in the civil service since the days of Yes Minister. Back then senior civil servants remained the soul of discretion even after retirement. When Sir Arnold Robinson has advice to give to his successor, Sir Humphrey Appleby, he does it over lunch at a Pall Mall club.Lord Macpherson, until recently the Treasury’s top mandarin, has some advice for the c
  
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• McDonald's workers to coordinate strike with allies around world

  21-08-2017 18:06
  Staff in Cambridge and Crayford to take action on US Labor Day to demand better wages, more secure contracts and union recognitionWorkers at two McDonald’s restaurants in the UK will go on strike on 4 September, the US Labor Day holiday, in an attempt to coordinate action against the fast food giant with allies around the world.The announcement of the symbolic date comes after staff at restaurants in Cambridge and Crayford, in south-east London, voted overwhelmingly on Friday to go on stri
  
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• Chinese carmaker Great Wall looks at bidding for Fiat Chrysler

  21-08-2017 16:58
  Potential bid for all or part of Italian-American group, with specific interest in its Jeep brand, sends target’s shares up in MilanChina’s Great Wall Motor Company has said it is interested in bidding for Fiat Chrysler Automobiles, which owns brands including Jeep and the truck maker Ram.A company official confirmed it was pursuing all or part of FCA after the US publication Automotive News reported that a “well-known Chinese automaker” had made an offer this month, trig
  
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• Uk Retirement Income Down 46% Since The Financial Crash ... - International Adviser

  21-08-2017 16:14
  International Adviser
  Uk Retirement Income Down 46% Since The Financial Crash ...
  International Adviser
  People retiring now must cope with pension income that is 46% lower than they could have expected had they retired immediately before the global financial ...en meer »
  
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• Quantitative easing is like heroin, says former Treasury official

  21-08-2017 16:06
  Nick Macpherson says it’s ‘time to move on’ from QE, nearly 10 years after the financial crash, because of its unwanted side-effects A former senior Treasury mandarin has compared quantitative easing to heroin and called for an end to almost a decade of electronic money printing by central banks. Nick Macpherson was permanent secretary to the Treasury when Bank of England officials started buying UK government bonds to stimulate the economy following the financial crisis. On Mo
  
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• Should we buy as joint tenants or tenants in common?

  21-08-2017 15:30 via theguardian.com
  My partner has a child from a previous relationship and I worry it will affect future thinkingQ My partner and I (we are in a same-sex relationship of four years but no civil partnership) are buying a house for £377,500 as joint tenants. We have a baby together and will shortly be trying for another child. My concern is that she has an adult son who is likely to have financial difficulties in the future. I worry that if I die before her, she may feel obliged to leave a large share of the p
  
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• Bank's QE programme 'like heroin' says ex-Treasury official – as it happened

  21-08-2017 15:07
  Cohn favourite to replace Fed’s Yellen - surveyMerkel hits out at car bosses’ bonusesChinese company reportedly looking at Fiat ChryslerTotal pays $7.5bn for Maersk OilNorth Korea and Trump back in the spotlight as bankers prepare for Jackson Hole summit2.07pm BSTStock markets have a cautious tone ahead of some key events later in the week.North Korean tensions could be on the rise again as the US and South Korea begin military exercises, while on the economic front, all eyes will be
  
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• 'Disability is uncomfortable. Let's have an open conversation'

  21-08-2017 11:53
  Blind entrepreneur Caroline Casey is travelling 1,000km through Colombia to raise awareness of disability exclusion in the business worldCaroline Casey didn’t know she had been born legally blind until she was 17. It seems remarkable, but she insists she had no idea that other people could see better than she could – no further than a blurry three feet in front of her. She found out on her 17th birthday, after telling an optometrist that she was going to learn how to drive. He turned
  
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• Circling the Roundhouse – in pictures

  21-08-2017 11:37 via theguardian.com
  We take you through a quirky south London property that is anything but square Continue reading...
  
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• Brexit: UK hopes of autumn trade talks 'will be dashed', says Slovenian PM

  21-08-2017 08:37
  Miro Cerar says after opening talks the two sides are too far apart on citizens’ rights, financial settlement and the Irish borderThe British government’s hopes of opening discussions on a future trade relationship this autumn will definitely be dashed by the European Union due to the slow progress of Brexit negotiations, one of 27 prime ministers who will make the decision has said.Miro Cerar, the prime minister of Slovenia, revealed in an interview with the Guardian that it had pro
  
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• FTSE 100 executive pay falls by 19% ahead of controversial reforms, says Deloitte

  21-08-2017 08:01
  Multinational’s vice-chairman says drop in pay to £3.5m in 2016, from £4.3m a year before, shows existing limits are working Pay for Britain’s top bosses has fallen by almost a fifth, suggesting companies may be reining in excessive rewards as the government reviews options for further reform.The median pay for chief executives at FTSE 100 companies, which includes bonuses and other long-term incentives, fell 19% to £3.5m in 2016, from £4.3m a year before, a s
  
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• Beware Admiral’s policy when it comes to speed awareness courses

  21-08-2017 07:59 via theguardian.com
  When I said I’d been on one, my insurance quote shot up by £50In a search for car insurance I called Admiral. The agent asked if I had been on any speed awareness courses – I wasn’t quick enough to decline to answer. When I said “yes” the quote increased by £50. The whole point of the courses is that they are an alternative to prosecution – and no record is kept. My course provider, DriveTech, says it does not share details as it is information not
  
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• House prices: Northants leads Midlands 'mini-boom', says Rightmove

  21-08-2017 07:01 via theguardian.com
  Property website says buyers priced out of London are snapping up cheaper homes across middle of England with good commuting linksAsking prices for homes in Northamptonshire have jumped by 9.1% over the past year, the biggest increase in England and Wales, Rightmove said today, as London’s unaffordable property market has driven people to buy further away and commute.The property website said the asking price for homes coming on to the market in the county had risen by 2.2% in August, to a
  
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• Day of moaning declared in north of England over train woes

  21-08-2017 07:00 via theguardian.com
  Commuters urged to flood TV and radio phone-ins after transport secretary’s cancellation of rail electrification upgrades in the northA day of moaning has been declared across the north of England, with public transport users encouraged to let rip about their terrible journeys.Commuters are urged to write to their MPs and flood radio and TV phone-ins on Monday to express their frustration with the region’s poor transport provision. Continue reading...
  
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• Financial squeeze on UK households eases from three-year peak - The Star Online

  21-08-2017 02:33
  The Star Online
  Financial squeeze on UK households eases from three-year peak
  The Star Online
  LONDON: The squeeze on British households' financial situation eased this month as slowing inflation and greater job security improved conditions from a three-year low recorded in July, a consumer survey showed on Monday. IHS Markit said its monthly ...
  Financial pressure on UK households eases from 3-year peakInternational Business Times UKalle 8 nieuwsartikelen »
  
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• Financial squeeze on UK households eases from three-year peak - Markit - Reuters UK

  21-08-2017 02:06
  Reuters UK
  Financial squeeze on UK households eases from three-year peak - Markit
  Reuters UK
  LONDON (Reuters) - The squeeze on British households' financial situation eased this month as slowing inflation and greater job security improved conditions from a three-year low recorded in July, a consumer survey showed on Monday. IHS Markit said its ...
  Financial pressure on UK households eases from 3-year peakInternational Business Times UKalle 8 nieuwsartikelen »
  
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