Financial news

• Stock markets hit record highs as fears over North Korea and Irma recede - as it happened

  11-09-2017 23:40 via theguardian.com
  All the day’s economic and financial news, as shares rally in Europe and AsiaLatest: World markets at record highs as US joins the rallyMSCI World Index at fresh highsBGC Charity Day in Canary WharfIntroduction: Markets rally as North Korea refrains from missile test
  Offshore wind costs hit record low10.39pm BSTA late PS: America’s S&P 500 index has closed at a new all-time high tonight.The S&P 500 gained 1.1%, or 26 points, to 2,488.11 points, led by insurers, other financia
  
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• Europeans need not apply: evidence mounts of discrimination in UK

  11-09-2017 21:20 via theguardian.com
  Exclusive: Government investigates evidence EU nationals are blocked from jobs and from renting or buying homesAre you an EU national who has been discriminated against in the UK? MPs vote on EU withdrawal bill – live updatesThe government equalities office is to examine growing evidence that EU nationals in the UK are being illegally prevented from renting or buying properties, getting jobs and booking holidays.
  Nick Gibb, the equalities minister, said he was responding after Labour and t
  
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• Hinkley nuclear power is being priced out by renewables | Nils Pratley

  11-09-2017 20:12 via theguardian.com
  The UK should concentrate on wind- and gas-fired stations, and involve nuclear only if it can vaguely compete on priceHinkley Point C nuclear power station was conceived in the days when offshore wind cost £150 per megawatt hour and a few misguided souls, some of them government ministers, thought a barrel of oil was heading towards $200.Successive governments swallowed the line that Hinkley represented a plausible answer to the UK’s threefold energy conundrum – keeping the lig
  
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• Google appeals against EU's €2.4bn fine over search engine results

  11-09-2017 20:03 via theguardian.com
  Brussels said tech giant abused dominance by manipulating search results to favour its own comparison shopping serviceGoogle is appealing against the record €2.4bn (£2.2bn) fine imposed by the European Union for its abuse of its dominance of the search engine market in building its shopping comparison service.The world’s most popular internet search engine has launched its appeal after it was fined by the European commission for what was described as an “old school”
  
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• Nuclear plans 'should be rethought after fall in offshore windfarm costs'

  11-09-2017 20:02 via theguardian.com
  Lib Dems and green groups say reduced price of state support should sound death knell for plants such as Hinkley Point CThe government is under pressure to reconsider its commitment to a new generation of nuclear power stations after the cost of offshore wind power reached a record low.Experts said green energy had reached a tipping point in the UK after two windfarms secured a state-backed price for their output that was nearly half the level awarded last year to Britain’s first new nucle
  
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• UK diesel car values dive by up to a quarter amid pollution crackdown

  11-09-2017 19:22 via theguardian.com
  Second-hand Vauxhall, Audi and BMW diesels have fallen most in price, according to research
  The value of some used diesel cars has dropped by as much as 26% since the start of this year amid a crackdown on older vehicles. Second-hand Vauxhall, Audi and BMW diesels have fallen most in price, according to research by the car-buying website Motorway.co.uk. The average used Vauxhall Corsa with a diesel engine has slumped in price from £2,160 to just £1,592 since the start of 2017, a drop
  
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• Donald Trump's 3% growth plan is only for the 1% | Kenneth Rogoff

  11-09-2017 18:06 via theguardian.com
  The stock market may care only about the growth rate, but most Americans should worry about how growth is achievedDonald Trump has boasted that his policies will produce sustained 3%-4% growth for many years to come. His prediction flies in the face of the judgment of many professional forecasters, including on Wall Street and at the Federal Reserve, who expect that the US will be lucky to achieve even 2% growth.
  But is there any chance Trump might be right? And if he is, to what extent will his
  
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• 70-year-old baristas? The government should wake up and smell the coffee | Michele Hanson

  11-09-2017 16:30 via theguardian.com
  As more people are forced to work later in life, DWP advice for bosses to make concessions to older employees looks farcical –and our future looks frighteningA report from the Department for Work and Pensions says that one in 10 people aged over 65 are still working, and that many pensioners are having to work for longer because they can’t afford to retire. But why is the government bothering to bring out these new figures? It’s no surprise. We’ve known for ages this was
  
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• When is the right time to buy a property?

  11-09-2017 15:45 via theguardian.com
  I have savings, currently rent, but might not be in the area for more than a couple of years. Should I buy?Q I live in a university town in the south-east of England. I am contracted to stay here for two years. After that I may or may not get another job in the same town, but I’m not so attached to it that I’d want to stay if there wasn’t the compelling reason of a job.I have £280,000 invested offshore (a combination of life savings and proceeds from the sale of a flat) w
  
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• London still world's top financial centre despite Brexit, says survey

  11-09-2017 14:52 via theguardian.com
  Frankfurt and Dublin move up index as New York falls amid uncertainty over Donald Trump’s views on free trade London has retained its position as the world’s top financial centre despite fears that the City will become less attractive for financiers in the wake of Brexit.New York – London’s closest rival and expected beneficiary of the fallout from the UK’s leaving the EU – has fallen further behind amid uncertainty about Donald Trump’s views on free tra
  
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• Can Macron and Merkel agree on how to fix the eurozone? | Barry Eichengreen

  11-09-2017 14:21 via theguardian.com
  With a dynamic new leader in France and a fresh mandate in Germany, there would be a chance to correct monetary union’s flawsWith Emmanuel Macron’s victory in the French presidential election and Angela Merkel’s Christian Democratic Union enjoying a comfortable lead in opinion polls ahead of Germany’s federal election on 24 September, a window has opened for eurozone reform. The euro has always been a Franco-German project. With a dynamic new leader in one country and a f
  
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• UK green energy expensive? Not any more. From now on it's cheap

  11-09-2017 13:38 via theguardian.com
  A record low price set for offshore wind power is good for UK jobs, the taxpayer and household bills. It is bad news for Hinkley C and the nuclear industryThe persistent myth that green energy is expensive has been shredded by the revelation that windfarms will be built around Britain’s coast far more cheaply than new nuclear reactors.New power stations in the UK today are usually only built with the certainty provided by subsidies paid through energy bills, so the record low guaranteed pr
  
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• Petra Diamonds market value falls after Tanzania seizes $15m shipment

  11-09-2017 12:14 via theguardian.com
  Company also forced to close key mine amid ongoing dispute with government over how the precious stones are valuedPetra Diamonds’ stock market value fell after the Tanzanian government seized a parcel of gems valued at nearly $15m (£11.4m) as part of a parliamentary investigation into alleged wrongdoing in the diamond sector.The London-listed company also had to shut down its Williamson mine, the source of the stones, as “certain key personnel” were questioned by the Tanz
  
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• UK stocks advance as insurers and AstraZeneca rise - Financial News (subscription)

  11-09-2017 11:05
  UK stocks advance as insurers and AstraZeneca rise
  Financial News (subscription)
  UK stocks rose on Monday, with insurers among advancers as the impact of Hurricane Irma appeared not as widespread as anticipated, MarketWatch reports. The FTSE 100 rose 0.4% to 7,408.71. The index on Friday fell 0.3% as investors headed into a ...en meer »
  
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• Trauma as travellers face a gender issue going through security

  11-09-2017 10:55 via theguardian.com
  Determining sex is often a requirement of checks at airports and stations. But if staff are unsure, how they respond is keyWhen Londoner Jamie Liang reached the Eurostar security checkpoint at London St Pancras International he put his possessions on the conveyor belt and entered the body scanner. It beeped. Instead of searching him, he said officials summoned him to one side, demanded to see his passport and, when he repeatedly asked why, threatened to call the police. The reason was eventually
  
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• Sanlam UK appoints Head of Distribution - Financial Reporter

  11-09-2017 10:36
  Financial Reporter
  Sanlam UK appoints Head of Distribution
  Financial Reporter
  It's a very exciting time to join Sanlam UK as the business looks to develop its proposition and brand in the adviser market. Sanlam UK has appointed John Pyburn as its new Head of UK Distribution. John has more than 25 years of experience in financial ...
  
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• Should first-class train travel be abolished?

  11-09-2017 10:00 via theguardian.com
  Trains have traditionally been riddled with class distinction and snobbery. As our crowded commuter routes come under pressure to stop segregating, author Andrew Martin ponders what we will lose with the scrapping of first classFeeling flush one recent Saturday afternoon at Victoria, I asked for a first-class train ticket to Brighton. “Why?” said the ticket clerk. “There’s hardly any difference.”It was quite an effective guilt trip – coming only a few days aft
  
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• Infosys completes acquisition of UK-based Brilliant Basics - Financial Express

  11-09-2017 09:44
  Financial Express
  Infosys completes acquisition of UK-based Brilliant Basics
  Financial Express
  In a bid to build on 'Design Thinking' approach, Infosys on Monday announced it has completed the acquisition of London-based product design and customer experience company Brilliant Basics. By: IANS | Published: September 11, 2017 1:14 PM. 0.en meer »
  
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• PRESS: Goldman Sachs Plans Retail Banking Arm In UK - Financial Times - Interactive Investor

  11-09-2017 09:02
  PRESS: Goldman Sachs Plans Retail Banking Arm In UK - Financial Times
  Interactive Investor
  LONDON (Alliance News) - Investment bank Goldman Sachs is looking to expand its retail banking business in the UK, according to the Financial Times. Last October, the US bank launched Marcus, a digital consumer lending platform, aiming to rival San ...en meer »
  
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• Charity shops: bringing in the cash, but bringing down the high street?

  11-09-2017 08:09 via theguardian.com
  Charity shops now bring in £270m a year, with 220,000 of us volunteering in them. But we still think there are too many on our high streetsCharity shops best buys - send us your picturesMost members of the public associatecharity shops with high street decline, and 50% think a “healthy” high street should contain fewer charity shops. These stark findings come from a report by thinktank Demos, updating its 2013 report on charity shops, both commissioned by the Charity Retail Ass
  
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• Is this a new record for GWR’s no pay for a delay?

  11-09-2017 08:00 via theguardian.com
  I’ve been waiting for three payment – one dating back to last yearTM’s complaint about GWR’s delay in paying compensation is nothing compared with my own. I have been waiting for nearly 10 months for my first claim (from a journey on 27 October last year), and have since made two further claims for 29 March and 21 June. I think this must be a record. VH, Penzance, Cornwall GWR stepped in to initially handle only two of the three claims. The March one seemed to have slippe
  
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• Hello dolly: the classic toys making a comeback

  11-09-2017 08:00 via theguardian.com
  Despite the lure of the iPad, sellers of board games, dolls and teddy bears are seeing sales rise and say it’s not game over for traditional toysToys have been keeping children occupied through the ages and their popularity shows no sign of waning in the 21st century. The UK toy market saw a 6.3% rise in sales last year, according to research by NPD Group and the British Toy and Hobby Association, bringing its value to a record-breaking £3.5bn. In an era dominated by technology, it w
  
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• UK prices rising faster than wages as forecasters predict inflation at 2.8%

  11-09-2017 07:01 via theguardian.com
  Transport costs drive rising inflation as petrol and diesel prices increase but wages fail to keep apaceBritain’s cost of living squeeze shows no sign of easingwith new figures showing that prices are still rising faster than wages.Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common. Continue reading...
  
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• Recruitment agency Cordant morphs into social enterprise

  11-09-2017 07:00 via theguardian.com
  Agency that places 125,000 temporary staff a year pledges to start staff profit-sharing scheme and cap dividends and top salaries One of the UK’s largest recruitment firms is to tear up its 60-year-old structure and become a “social enterprise” with a pay cap and profit-sharing plan, in a move the family who own the company hope will inspire others businesses to follow suit.Cordant, which sends 125,000 temporary staff every year to work for 5,000 clients such as Amazon and Tesc
  
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• iPhone X: Apple’s latest iPhone name leaks ahead of official release

  11-09-2017 04:15 via theguardian.com
  iPhone X is rumored to be priced at close to $1,000 and set to be launched on Tuesday at the company’s multibillion-dollar new headquartersApple’s latest iPhone will be called the iPhone X, according to a leaked report. Related: The $1tn question: how far can the new iPhone 8 take Apple?Continue reading...
  
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• Premier eyes UK financial support to help rebuild - BVI News - BVI News Online

  11-09-2017 00:58
  BVI News Online
  Premier eyes UK financial support to help rebuild - BVI News
  BVI News Online
  Nedburn Thaffe – Premier Dr. D Orlando Smith has said that the British Virgin Islands will be counting on its mother country – the United Kingdom (UK) – to ...en meer »
  
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