Financial news

• Sports Direct pays out £43m bonus among 2,000 staff

  08-09-2017 20:21 via theguardian.com
  Owner Mike Ashley praises personnel but share bonus only available to select group of 2,000 permanent contract staff – about 10% of the total workforceSports Direct has handed £43m in share bonuses to a group of nearly 2,000 permanent staff who took part in an incentive scheme launched in 2011.Mike Ashley, the majority shareholder and chief executive of the retail group, praised the “magnificent achievements and fantastic loyalty” of workers who were helping the company m
  
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• Richard Desmond poised to sell Express and Star to Trinity Mirror

  08-09-2017 20:07 via theguardian.com
  Fears for media plurality as potential £130m deal for Express and Star papers plus magazines such as OK! signals exit of one of sector’s most ruthless operatorsBillionaire Richard Desmond is poised to sell his Express and Star newspapers and celebrity magazine OK! in a £130m deal, ending a 43-year publishing career that had its roots in music and pornographic magazines.Trinity Mirror, the publisher of the Labour-supporting Daily and Sunday Mirror titles has made an offer to tak
  
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• Motor Ombudsman guide helps DRIVERS with best places for car purchasing and servicing 

  08-09-2017 19:57 via feedproxy.google.com
  First cars bring more than their fair share of cares, according to latest research from The Motor Ombudsman which has produced a new guide to deal with the problems. 
  
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• Fidget spinners and Fingerlings help toy firm buck downward market trend

  08-09-2017 19:16 via theguardian.com
  Despite Lego and other firms reporting fall in profits, The Entertainer says there is still business to be done in the toy sectorToy specialist The Entertainer said playground crazes such as fidget spinners and Fingerlings were helping it buck a downturn in the toy trade. The amount spent on toys and the number of toys sold is down sharply on last year, but The Entertainer said its like-for-like sales were running level with 2016 over the most recent six months.Continue reading...
  
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• UK exports outside EU fall despite weak pound

  08-09-2017 18:58 via theguardian.com
  Exports of British-made goods to EU increase by £1.3bn, underlining country’s reliance on trade with continental EuropeBritain’s efforts to expand trade in goods beyond the European Union’s border took a knock in July after official figures showed the UK’s deficit with the rest of the world widened following a drop in exports.The deficit in the trade in goods with non-EU countries widened by £2.4bn while exports to the EU grew to cut the trade gap by £1.
  
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• US gun makers battle 'Trump slump' as sales fall compared to 2016

  08-09-2017 17:51 via theguardian.com
  American Outdoor Brands, formerly Smith and Wesson, reported a 48.5% decrease in firearms revenue compared with the same quarter last yearFor one of America’s largest gun manufacturers, the “Trump slump” in sales has meant a nearly $100m fall in firearms revenue compared with the same quarter last year.Related: The 'Trump slump': gun sales decline as fears of tighter controls fadeContinue reading...
  
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• Bell Pottinger’s Asian arm separates from UK parent company

  08-09-2017 17:51 via theguardian.com
  Asian PR operation rebrands as Klareco – ‘clarity’ in Esperanto – in an attempt to make ‘clean break’ with disgraced firmThe Asian arm of Bell Pottinger is preparing to split off from the scandal-hit PR agency under a new name, as its parent teeters on the brink of administration. The firm’s Singapore-based operation intends to rebrand as Klareco Communications, which means “clarity” in Esperanto. The name choice is a pointed attempt to dista
  
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• Let’s move to Diss, Norfolk: a glimpse of the East Anglian Dream

  08-09-2017 17:30 via theguardian.com
  There’s much to admire… but many admirersWhat’s going for it? I know what you want. Pink-painted, 18th-century cottage. Living-room with beams and inglenooks. Pantiles on the roof, maybe thatch. Paddocks out back. Ooh, and can I have a stream, too? What you’ll probably get, though, is redbrick, 1980s semi. Garage on the side. Heritage lantern by the front door. Straight outta Brookside. Bag of John Innes on the drive, waiting for the weekend. Demand for the East Ang
  
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• Wheelabrator Reaches Financial Close on UK WTE Facility - waste360

  08-09-2017 16:49
  waste360
  Wheelabrator Reaches Financial Close on UK WTE Facility
  waste360
  Construction on Ferrybridge Multifuel 2 commenced in August 2016 and plant operations are expected to begin in in the third quarter of 2019. Waste360 Staff | Sep 08, 2017. Wheelabrator Technologies has reached financial close on the 744,000 tons per ...en meer »
  
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• 'No risk' Draghi hits back at critics of ECB's huge money-printing programme

  08-09-2017 16:48 via feedproxy.google.com
  THE eurozone's chief central banker Mario Draghi has stubbornly refused to acknowledge the risks with the bloc's gigantic money-printing programme - amid a number of high profile critics.
  
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• Shelling out: Britons go nuts for coconut water

  08-09-2017 15:56 via theguardian.com
  Sales of drink with purported health benefits such as hangover cure or diet aid set to quadruple in next five years to £500m Madonna, Rihanna and Matthew McConaughey drink it by the gallon and like it so much they bought a stake in it. Now coconut water has become the UK’s fastest-growing soft drink.Annual sales have broken the £100m mark for the first time – and are forecast to quadruple over the next five years.Continue reading...
  
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• UK-Singapore Financial Dialogue Takes Place in Singapore - Crowdfund Insider

  08-09-2017 15:40
  Crowdfund Insider
  UK-Singapore Financial Dialogue Takes Place in Singapore
  Crowdfund Insider
  The United Kingdom and Singapore has held their third UK-Singapore Financial Dialogue in Singapore today (September 8). According to information provided by the Monetary Authority of Singapore, the two countries exchanged views on domestic and ...
  
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• Go-Ahead Group turns abroad after consumer spending squeeze puts brake on domestic rail

  08-09-2017 15:30 via feedproxy.google.com
  GO-AHEAD Group is aiming to drive up profits from its international operations as a consumer spending squeeze puts the brake on its domestic rail business.
  
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• Pound boosted by UK manufacturing growth - as it happened

  08-09-2017 15:00 via theguardian.com
  The pound has risen above $1.32 for the first time in five weeks after UK manufacturing output rose for the first time in 2017 in JulyEuro hits $1.2092 after ECB hints at tapering stimulusUK manufacturing output rises for first time in 2017British exports to EU rise, exports to rest of the world fallDaily Mail publisher in talks to buy Express and StarUK economy ‘treading water’ as eurozone gets ahead 2.00pm BSTBefore we close up for the day, let’s take a look at how European m
  
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• House price map reveals the surprising areas growing fastest in Britain

  08-09-2017 14:38 via feedproxy.google.com
  HOUSE prices in London and the South East have slowed over the past 12 months but values in other parts of Britain are surging, analysis has showed.
  
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• The Tory fallacy: that migrants are taking British jobs and driving down wages | Vince Cable

  08-09-2017 14:25 via theguardian.com
  The leaked Brexit document shows the government is happier playing to the leavers’ gallery than tackling the economy’s underlying problemsThe leaked proposals on post-Brexit immigration give us a useful insight into the government’s thought processes. The desire seems largely to be about addressing “public concern” over pressure on public services, depression of wages and displacement of UK workers: that is, issues of perception, whether or not they are real. Relate
  
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• Anti-smuggling proposal 'may let tobacco industry in by back door'

  08-09-2017 14:18 via theguardian.com
  With Big Tobacco historically involved in the illicit cigarette trade, proposed EU track and trace system must be truly industry-independent, warn health bodiesTobacco campaigners are concerned that new draft proposals from the European commission for a system to prevent cigarette smuggling may let the industry in by the back door.The illicit trade in cigarettes has become a major problem worldwide. A study in 2009 by the US-based Campaign for Tobacco Free Kids estimated that 11.6% of all intern
  
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• Zoopla buys the financial services of Money.co.uk in deal worth up to £140m - Express.co.uk

  08-09-2017 14:12
  Express.co.uk
  Zoopla buys the financial services of Money.co.uk in deal worth up to £140m
  Express.co.uk
  THE owner of property portal Zoopla is buying financial services comparison website Money.co.uk in a deal worth up to £140 million, it was announced yesterday. PUBLISHED: 00:00, Fri, Sep 8, 2017 | UPDATED: 13:11, Fri, Sep 8, 2017 ...en meer »
  
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• Uber: London drivers must use hybrid or fully electric cars from 2020

  08-09-2017 13:27 via theguardian.com
  Ride-hailing service says it is aiming to tackle pollution by banning vehicles that do not have an electric motorUber drivers will be banned from using vehicles that are not a hybrid or fully electric in London from 2020, as part of a plan to help tackle illegal levels of air pollution in the capital.While hybrids such as the Toyota Prius have become synonymous with the ride-hailing service, today just under half of its London UberX drivers have an electrified vehicle. The firm said that must ri
  
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• Solar industry says EU tariffs on Chinese imports will raise panel prices

  08-09-2017 13:16 via theguardian.com
  EU duties on Chinese solar modules are set to rise 30% above market levels signalling ‘huge negative effects’ for businessesEurope’s solar industry has condemned an EU vote to impose another round of duties on Chinese imports, just weeks before a US trade panel is due to rule on similar tariffs.
  A Brussels committee yesterday agreed to set minimum import duties for Chinese solar modules and cells that could price them up to 30% above market levels with “huge negative effe
  
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• Hurricane Irma, Jose and Harvey damage: US economy at risk as Florida braces for storm

  08-09-2017 12:44 via feedproxy.google.com
  HURRICANE Irma and Jose will compound economic damage already done by Harvey, as the US braces for the storm path to hit Florida and neighbouring states.
  
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• Properties with spectacular views – in pictures

  08-09-2017 12:29 via theguardian.com
  Gaze out in wonderment with this week’s selection, from Arran to Italy Continue reading...
  
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• Harvey spells it out: markets alone won't protect you | Joseph Stiglitz

  08-09-2017 11:58 via theguardian.com
  We should have learned the lessons of Hurricanes Katrina and Sandy – we need political action to help prevent disastersTropical Storm Harvey has left in its wake upended lives and enormous property damage, estimated by some at $150-$180bn. But the storm that pummelled the Texas coast for the better part of a week also raises deep questions about the United States’ economic system and politics.It is ironic, of course, that an event so related to climate change would occur in a state t
  
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• UK financial watchdog considers interest only retirement mortgages ... - Property Wire

  08-09-2017 10:42
  Property Wire
  UK financial watchdog considers interest only retirement mortgages ...
  Property Wire
  Mortgages lasting into retirement, paid on an interest only basis, could be re-introduced to the UK under proposals outlined by the country's financial watchdog.en meer »
  
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• POUND LIVE: Pound rises after Euro Bank latest update

  08-09-2017 09:49 via feedproxy.google.com
  THE pound edged up against the euro on Friday morning, after the European Central Bank confirmed it is likely to give an update on its QE programme after the October meeting.
  
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• MPs to question City watchdog over Saudi Aramco float

  08-09-2017 09:37 via theguardian.com
  FCA to detail whether or not it met ministers ahead of planned rule changes that could lure oil giant’s £1.5tn float to London
  The Financial Conduct Authority is facing questions from MPs about whether political influence was behind proposed City rule changes that could lure the $2tn (£1.5tn) float of Saudi Aramco to London. Andrew Bailey, the chief executive of the FCA, is being asked by the chairs of two powerful Commons committees whether there were any discussions between t
  
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• FCA must backtrack over Saudi oil giant Aramco | Nils Pratley

  08-09-2017 08:22 via theguardian.com
  Plans to rewrite London listing rules to attract premium flotations leave a bad taste in the mouthAndrew Bailey, the chief executive of the Financial Conduct Authority, is usually good at reading the breezes. He is the safe-hands operator whom the former chancellor George Osborne switched from the Bank of England to inject some much-needed credibility into FCA after its various calamities. For most part, the FCA under Bailey has performed as intended. Muscular common sense and a sound grasp of m
  
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• Enterprise won’t refund us over a car crash that wasn’t our fault

  08-09-2017 08:00 via theguardian.com
  We paid €850 excess on the condition it would be reimbursed. A year later, we are no nearer to getting our money backIn July 2016 my partner and I rented a car from Enterprise in France. During our holiday we were hit from behind and the other driver signed a statement admitting he was responsible for the crash. When we returned the car Enterprise made us pay €850 (£780), which it promised to return after it had collected payment from the other driver’s insurer.
  Last Novemb
  
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• Are you an easy hacking target? Cybersecurity tips for small business

  08-09-2017 08:00 via theguardian.com
  Most cyber hacks take advantage of weak or stolen passwords. Follow this expert guide to keeping your business safe Small businesses and self-employed people are big targets for hackers, and the financial implications can be crippling. Gone are the days of thinking “It’ll never happen to us”. A total of 61% of all data breaches this year occurred in businesses with fewer than 1,000 employees, according to the Verizon Data Breach Investigations Report. Estimates vary on how much
  
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• 'There's no stock market bubble!' ECB chief slaps down Deutsche Bank

  08-09-2017 07:06 via feedproxy.google.com
  MARIO Draghi has insisted there is not a house price or stock market in the eurozone bubble as the European Central Bank president batted off criticism of his €2trillion money-printing programme.
  
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• UK economy 'treading water' as eurozone stretches ahead, says BCC

  08-09-2017 07:01 via theguardian.com
  British Chambers of Commerce cuts growth forecasts blaming squeeze on household budgets and failure of exporters to capitalise on low pound Britain is locked into a “low growth trajectory” that will see GDP growth dip next year while the eurozone shrugs off Brexit uncertainty to stretch ahead, according to a leading business group.The British Chambers of Commerce said a squeeze on household budgets and the failure of exporters to capitalise on the low pound meant the UK was “tr
  
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