Financial news

• UK exporters have 'hoarded' gains from fall in sterling, says ONS

  15-09-2017 19:59
  Analysis shows companies increased export prices after Brexit vote rather than expanding production or increasing jobsBritain’s manufacturing exporters have “hoarded” the gains from last year’s fall in sterling by putting up prices rather than increasing output and sales.The Office for National Statistics said exporters could have allowed their prices to decline in line with the fall in the pound, making their products more attractive to foreign buyers, but chose to boost
  
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• Ryanair plane makes emergency landing after losing nose wheel

  15-09-2017 19:48
  Boeing 737 flying from Stansted to Copenhagen lands safely after being diverted to East Midlands airportA Ryanair plane has been forced to make an emergency landing after losing one of its two nose wheels.The loss occurred after the Boeing 737 took off from Stansted bound for Copenhagen at 8.07am on Friday. Continue reading...
  
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• Bitcoin value plummets after China orders trading in currency to cease

  15-09-2017 18:52
  Beijing orders exchanges to stop trading in bitcoin amid fears increasing number of consumers in market could spark wider financial problemsThe value of bitcoin collapsed below $3,000 (£2,200) at one point on Friday after Chinese authorities announced a crackdown on the digital currency.Bitcoin is the first, and the biggest, "cryptocurrency" – a decentralised tradable digital asset. Whether it's a bad investment is the $70bn question (literally, since that's the current value of all
  
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• Writing off student debt cheaper than claimed, says IFS

  15-09-2017 18:40
  Decision could cost the government as little as £10bn, well below the £100bn quoted by ministersWriting off existing student loans could cost the government as little as £10bn, well below the £100bn figure quoted by politicians, according to new analysis by the Institute for Fiscal Studies.The IFS calculated that immediately scrapping the debt for university tuition would add £20bn to government debt, but that delaying the decision until the end of the current parli
  
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• Prospect of interest rate rise sends pound back to level of Brexit result day

  15-09-2017 18:38
  Bank of England MPC member says rising inflation and stronger household spending merit increase ‘as early as coming months’The prospect of the first interest rate rise in a decade has sent the pound to its highest level since the day after the Brexit vote and put debt-laden consumers on notice of higher borrowing costs.The rally in the pound against the dollar provided some relief for Briton’s travelling abroad and comes amid heightened expectations that the Bank of England cou
  
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• Toyota Financial Services UK Teams Up With Alternative Credit Scoring Startup - Auto Finance News (blog)

  15-09-2017 18:32
  Auto Finance News (blog)
  Toyota Financial Services UK Teams Up With Alternative Credit Scoring Startup
  Auto Finance News (blog)
  Aire, an alternative credit scoring startup, raised a $5 million Series A funding round and announced a partnership with the U.K. arm of Toyota Financial Services yesterday. The round was led by Sunstone Capital along with White Star Capital. Aire's ...
  
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• Driving force: are electric cars crowding out traditional engines?

  15-09-2017 18:13
  As Frankfurt motor show puts battery vehicles centre stage, the tide could be turning against combustion enginesWhen Angela Merkel addressed the Frankfurt motor show, it was not to a backdrop of revving engines but an exhibition of noiseless electric Golfs, South Korean hybrids and Japanese fuel-cell cars.The silence should have pleased the chancellor, who in the wake of the VW emissions scandal has hinted at a possible ban on sales of the diesel cars for which German manufacturers are renowned.
  
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• Food brands 'cheat' eastern European shoppers with inferior products

  15-09-2017 18:00
  European commissioner says firms ‘misled’ consumers by wrapping worse versions of well-known goods in same packaging• Are brands in the east lower quality than in the west?Multinational food and drink companies have “cheated and misled” shoppers in eastern Europe for years by selling them inferior versions of well-known brands, according to the European commission’s most senior official responsible for justice and consumers.In an outspoken attack on the corpora
  
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• Lucky us – it’s an offer we can’t refuse from the Murdochs | Marina Hyde

  15-09-2017 17:34
  First the media empire gave us Brexit. Now it says it had better take over Sky, to save us all from BrexitI always enjoy Rupert Murdoch’s how-very-dare-you moments, those occasions on which he draws himself up to his full ethical height. Last December he wrote a letter to this newspaper debunking as “fake news” a quote frequently attributed to him. You might have seen it (indeed, the former Times city editor who claims it was said to him stands by it): “When I go int
  
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• Barclays' head of whistleblowing to leave after dropping employment case

  15-09-2017 17:32
  It is not clear if Jonathan Cox’s departure is linked to investigation into bank’s CEO Jes Staley for attempts to unmask a whistleblowerThe head of whistleblowing at Barclays is to leave the bank at a time when the bank’s chief executive, Jes Staley, is being investigated over his attempts to unmask a whistleblower.Jonathan Cox, a former police detective inspector, is leaving after dropping an employment case against the bank, according to Reuters. Continue reading...
  
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• Head of scandal-hit G4S detention centres is put on administrative leave

  15-09-2017 17:13
  G4S has placed Ben Saunders on administrative leave after undercover Panorama exposed abuse of detaineesThe head of two G4S-run detention centres has been placed on administrative leave after a series of scandals, the Guardian has learned.G4S is believed to have placed Ben Saunders on leave from his role in charge of Brook House and Tinsley House immigration removal centres (IRCs) after an undercover Panorama exposed abuse of detainees there. Officers were seen to mock suicidal detainees and one
  
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• Driver's legal victory is one in the ParkingEye for rogue private firms

  15-09-2017 15:55
  ParkingEye pays barrister £1,550 in costs over £85 fine issued as he napped in motorway servicesA driver hit with an £85 fine after taking a night-time nap in a motorway services car park – and overstaying its two-hour parking limit – has had the fine overturned, and obtained £1,555 in costs awarded against the private parking company after it chose not to challenge a court award. Related: ParkingEye meets its match as it takes on a top barrister ove
  
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• UK interest rate rise – what it could mean for savers and mortgage holders

  15-09-2017 15:28
  The Bank of England has hinted the first rate rise in almost a decade is now likely, and soon. So how much will it cost?A member of the Bank of England’s rate-setting committee has fuelled speculation that interest rates could rise as soon as November. Gertjan Vlieghe put forward the arguments for a rise in rates “as early as in the coming months” in a speech to economists in London. Continue reading...
  
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• KPMG chiefs in South Africa quit amid Bell Pottinger scandal

  15-09-2017 14:40
  Top executives and senior partners at accountants resign after report concludes company auditing standards were not metThe fallout from the scandal that brought down PR firm Bell Pottinger is spreading after the resignations of the chief executive, chairman and a string of top executives from the South African arm of KPMG, which audits companies owned by the controversial Gupta family.The resignations follow the publication of an investigation into the auditor’s work on businesses owned by
  
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• Low blood pressure: tackling the donation shortfall in Nigeria

  15-09-2017 14:04
  Using persistence and innovation, a few NGOs are persuading more people to donate and transforming distribution She did everything she was supposed to during the pregnancy. Went for regular check-ups, got plenty of sleep, made sure she ate well, got a lot of exercise and did everything else they asked.Ifetayo Owoseni, already a mother of two, was 34 when she went into labour, with no warning signs of trouble or danger. But halfway through, she began haemorrhaging. Owoseni needed a blood transfus
  
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• Don’t let the bankers fool you: bitcoin is here to stay | Dominic Frisby

  15-09-2017 13:25
  Would Jamie Dimon really sack traders who netted a 1,000% return in less than two years? The bank’s shareholders wouldn’t approveIt is a “fraud”, the JP Morgan CEO, Jamie Dimon, said this week. “It’s worse than tulip bulbs … it will be the emperor with no clothes”. He was talking about the internet cash system bitcoin.It will eventually “blow up”, he said, it’s not a “real thing”. “It will be closed.” Any
  
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• Premier Inn owner quits ethical trade body after union row

  15-09-2017 12:49
  Unite union says Whitbread, which also owns Costa Coffee, ignored its attempts to secure access to workers The owner of Costa Coffee, Premier Inn and Brewers Fayre has pulled out of the UK’s ethical trade body after a spat with the Unite union over recognition of British workers.The union said attempts to gain access to workers at Whitbread’s Premier Inn chain, in line with core principles of the Ethical Trading Initiative, which is backed by unions, human rights charities such as Ox
  
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• Together Mutual CEO: Lack of financial education in the UK leading to ... - Insurance Business

  15-09-2017 12:05
  Insurance Business
  Together Mutual CEO: Lack of financial education in the UK leading to ...
  Insurance Business
  Together Mutual CEO: Lack of financial education in the UK leading to underinsurance A lack of education on financial products and confusing terminology around home insurance is leading many UK consumers to be underinsured, with one in five Brits ...
  
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• UK financial watchdog refuses to publish leaked RBS report - Belfast Telegraph

  15-09-2017 09:09
  Belfast Telegraph
  UK financial watchdog refuses to publish leaked RBS report
  Belfast Telegraph
  The FCA has offered a detailed summary of its findings in lieu of publishing a full public report. Andrew Bailey, chief executive of the Financial Conduct Authority (PA). 1 1 Andrew Bailey, chief executive of the Financial Conduct Authority (PA ...
  Watchdog refuses to publish leaked report into taxpayer-owned RBS's ...This is Moneyalle 36 nieuwsartikelen »
  
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• JD Wetherspoon boss: EU leaders should take a 'wise-up pill' on Brexit

  15-09-2017 09:00
  Tim Martin hits out at ‘unelected oligarchs’ and says pub chain could be forced to switch to suppliers outside the EU The chairman of JD Wetherspoon has warned that the pub chain could be forced to switch to suppliers from outside the EU as a result of Brexit and that the strong start to its new financial year could not be sustained.Urging EU leaders to take a “wise-up pill”, Tim Martin said any move to switch suppliers would not have adverse effects on the UK but be &ldq
  
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• The eco-warrior taking a chainsaw to Indonesia's illegal palm oil plantations

  15-09-2017 08:00
  Biologist Rudi Putra is leading a movement to restore the region’s tropical rainforests, which are home to many endangered speciesArmed with a chainsaw and a copy of Indonesia’s environmental laws, biologist Rudi Putra and his team of eco-warriors have been identifying and cutting down illegal palm oil plantations and recovering the lost forests of the Leuser ecosystem.For decades, the exuberance of the largest rainforest in Indonesia’s north Sumatra region, has succumbed to th
  
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• California’s big battery experiment: a turning point for energy storage?

  15-09-2017 08:00
  The world’s largest lithium-ion battery installed after the Aliso Canyon gas blowout has become a test case for the grid storage industryOn a paved expanse next to an electrical substation in Escondido, 30 miles north of downtown San Diego, sits a row of huge silver boxes. The site resembles a barracks, but instead of soldiers, the 24 containers house racks of battery packs. This is the largest lithium-ion battery in the world, according to its developers. When the local grid needs more po
  
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• Ten years since the start of the financial crisis, is the UK banking sector a wise ... - Telegraph.co.uk

  15-09-2017 07:01
  Telegraph.co.uk
  Ten years since the start of the financial crisis, is the UK banking sector a wise ...
  Telegraph.co.uk
  It was 10 years ago this week that large queues of people started to form outside branches of Northern Rock, the first visible sign in the UK of the crisis that was to engulf markets over the coming months. Poor credit assessment by banks and sloppy ...
  
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