Financial news

• 'It's hugely problematic': SEC under fire from Congress over data hack

  21-09-2017 21:58 via theguardian.com
  SEC reveals cybercriminals may have used hack to make illegal tradesCommission investigating source of hack but said they had fixed it promptlyWall Street’s top regulator came under fire on Thursday about its cybersecurity and disclosure practices after admitting hackers had breached its database of corporate announcements in 2016 and may have used it for insider trading. Related: Equifax: credit firm was breached before massive May hackContinue reading...
  
  Read more

• Ryanair isn’t just an airline; it’s a parable for our greedy times Anne Perkins

  21-09-2017 21:13 via theguardian.com
  Europe’s biggest carrier capitalises on the public’s worst instincts. It exploits us and we protest, but we are complicitIt was Ryanair’s AGM on Thursday and investors at the Dublin get-together seem to have been unusually grumpy. One bolshie shareholder, retired mechanic Brian Graham, even called for “heads to roll”. Two big US pension funds refused to endorse the proposals for senior pay. Others muttered anxiously about “poor disclosure” and executive
  
  Read more

• Amazon and Facebook keen on Premier League rights, say Manchester United

  21-09-2017 20:41 via theguardian.com
  • Tech companies’ interest will escalate financial boom for top clubs
  • Ed Woodward announces record income made by UnitedAmazon and Facebook are likely to bid for Premier League streaming rights, which will further escalate the huge financial boom for England’s top clubs, the Manchester United vice-chairman, Ed Woodward, has said.In his quarterly call with bank executives who invest in United’s shares on the New York stock exchange, Woodward said the pair were very i
  
  Read more

• UK debt crisis and the onward march of neoliberalism | Letters

  21-09-2017 20:39 via theguardian.com
  Quantitative easing allowed the wealthy to get out of cash and into assets, writes Martin London; the provisionally passed Ceta deal is TTIP by the back door, says John Airs. Plus letters by David Dodd and Paul NicolsonThe debt crisis Larry Elliott predicts (Borrowed time: Threadneedle Street is right to fear a bubble, 19 September), is the result of our failure to resolve the financial crisis of 2008. The credit crunch demonstrated that western economies were living beyond their means and that
  
  Read more

• Advertisement

• Hinkley Point C: fresh strike threat over pay dispute

  21-09-2017 20:26 via theguardian.com
  Nuclear plant construction facing further delays as unions declare plans to ballot civil engineers in row over bonusesThe UK’s first new nuclear power plant for 20 years could be delayed again, after trade unions for construction staff working on the £20bn Hinkley Point C project announced a ballot for strike action in a dispute over pay.More than 95% of members balloted by GMB and Unite rejected a pay increase offered by the French energy company EDF and its contractor Bylor after m
  
  Read more

• China's credit rating cut to A+ by S&P over rising debt fears

  21-09-2017 20:25 via theguardian.com
  Ratings agency cites concerns over financial and economic risk as country’s total debt hits $28tn
  China’s credit rating has been downgraded by Standard & Poor’s amid fears rising debts are adding to economic and financial risks.The agency lowered China’s sovereign rating by one notch to A+ from AA-, putting it in the same category as countries such as the US and Austria. This is the second downgrade from a major ratings agency for Beijing this year and comes at an awk
  
  Read more

• Ryanair boss Michael O’Leary may be flying by the seat of his pants in row with pilots | Nils Pratley

  21-09-2017 19:43 via theguardian.com
  It makes doubtful sense for Michael O’Leary to patronise and alienate his pilots, who may get their own back by joining a unionFunnily enough, Michael O’Leary did not preach a gospel of peace, love and goodwill to all pilots at Thursday’s annual meeting. Even by his standards the Ryanair chief executive’s belligerence was extraordinary.Pilots do not have a difficult job, shareholders were told. Some are “precious about themselves” and “full of their own
  
  Read more

• UK: UK Financial Conduct Authority Releases Guidance On Initial Coin Offerings - Mondaq News Alerts (registration)

  21-09-2017 18:35
  www.professionaladviser.com
  UK: UK Financial Conduct Authority Releases Guidance On Initial Coin Offerings
  Mondaq News Alerts (registration)
  On September 12, 2017 the UK Financial Conduct Authority ("FCA") released brief guidance ("FCA Guidance") on initial coin offerings ("ICOs"). This follows earlier guidance from the Canadian Securities Administrators (the "CSA") in August on ICOs, ...
  UK's Financial Conduct Authority Publishes Findings From The ...Exchange News Directalle 14 nieuwsarti
  
  Read more

• Advertisement

• Bankrupt Lehman Brothers profits from Formula One sale

  21-09-2017 18:31 via theguardian.com
  The collapsed bank will sell its stake in Nasdaq-listed auto racing empire, making a hefty $1.5bn from a $300m investmentCreditors of Lehman Brothers are on track for a turbocharged windfall after the collapsed bank announced it is selling its stake in Nasdaq-listed Formula One auto racing, giving it a payout of $1.5bn from a $300m investment.The offering also brings the chequered flag down on former F1 chief executive Bernie Ecclestone’s time as a shareholder. The billionaire business mag
  
  Read more

• Young people worst hit by debt crisis, plus London house prices dive

  21-09-2017 16:27 via theguardian.com
  Also, one driver’s legal victory over ParkingEye and the part-time working revolution
  To get Money Talks delivered to your inbox sign up hereHello 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...
  
  Read more

• New figures reveal scale of controversial leasehold homes

  21-09-2017 16:00 via theguardian.com
  DCLG estimates that 1.4m houses and 2.9m flats have been sold with such contracts as government considers ban on new sales by developersThe number of leasehold houses in England is significantly higher than previously estimated, according to new government figures released before an expected ban on future sales by developers.The Department for Communities and Local Government said there were 1.4m leasehold houses in England in 2015-16, compared with the previous estimate of 1.2m in 2014-15, foll
  
  Read more

• UK to diverge from EU on financial services rules after Brexit - Financial Times

  21-09-2017 15:31
  Financial Times
  UK to diverge from EU on financial services rules after Brexit
  Financial Times
  The UK government has told the financial services industry that Britain will seek to develop a distinct regulatory framework from the EU after Brexit in an effort to ...
  UK to develop separate financial services regulatory framework post ...Investment Weekalle 9 nieuwsartikelen »
  
  Read more

• Ryanair chief claims he can force pilots to give up a week of leave

  21-09-2017 14:26 via theguardian.com
  Michael O’Leary says pilots do not have a ‘difficult job’ but admits he cannot rule out further flight cancellations into NovemberThe Ryanair chief executive, Michael O’Leary, has escalated the airline’s dispute with pilots, saying they do not have a “difficult job” and claiming he can force them to defer their time off.O’Leary is scrambling to prevent more disruption to Ryanair’s schedule after cancelling up to 50 flights a day due to a rota
  
  Read more

• UK's Financial Conduct Authority And Hong Kong Insurance Authority Sign ... - Exchange News Direct

  21-09-2017 14:21
  UK's Financial Conduct Authority And Hong Kong Insurance Authority Sign ...
  Exchange News Direct
  The Financial Conduct Authority (FCA) announces today that it has entered into a co-operation agreement with the Hong Kong Insurance Authority (IA) to enhance collaboration in supporting Fintech innovation. Under the agreement, the FCA and the IA will ...en meer »
  
  Read more

• Britain’s borrowing falls to lowest level since 2007 in welcome boost before Brexit

  21-09-2017 13:22 via feedproxy.google.com
  BRITAIN'S state borrowing has fallen to its lowest level in a decade, putting Britain in an even stronger financial position ahead of Brexit - and giving the chancellor a boost ahead of the Autumn Budget.
  
  Read more

• UK budget deficit narrows as shoppers boost VAT receipts

  21-09-2017 13:17 via theguardian.com
  Public finances still rising as a proportion of GDP despite unexpectedly strong figures for AugustBritain’s public sector spending deficit dropped to its lowest August total since 2007 after an increase in VAT revenues and a squeeze on local authority borrowing.The deficit in August stood at £5.7bn, down 18% compared with the same month last year, beating forecasts of £7.1bn in a Reuters poll of economists. Continue reading...
  
  Read more

• UK FinTech Census 2017: The Key Facts - DIGIT.FYI (blog)

  21-09-2017 12:57
  DIGIT.FYI (blog)
  UK FinTech Census 2017: The Key Facts
  DIGIT.FYI (blog)
  Commissioned by Her Majesty's Treasury, UK FinTech Census 2017 provides a comprehensive look at the current state of the UK's financial technology sector. DIGIT breaks down the key facts… @ChloeAHenderson. Share. UK Finance. HM Treasury, EY ...
  
  Read more

• Further Ryanair cancellations likely as pilots reject cash to work on days off

  21-09-2017 11:42 via theguardian.com
  Airline faces fresh trouble as pilots turn down bonus offer to work on holidays and starting earlyHow have you been affected by Ryanair’s flight cancellations? Ryanair customers face the threat of a fresh wave of flight cancellations as the airline’s pilots prepare to reject an offer of a cash bonus if they give up days off.The Guardian has obtained a draft letter signed by Ryanair pilots from across Europe, rejecting the offer and warning they will now “work to rule” - r
  
  Read more

• Raisin buys UK's financial technology specialist PBF Solutions - Banking Business Review

  21-09-2017 11:06
  Banking Business Review
  Raisin buys UK's financial technology specialist PBF Solutions
  Banking Business Review
  Germany-based Raisin has acquired UK-based financial technology specialist PBF Solutions, in a bid to provide end-to-end deposit raising solutions for banks and other providers in the country. Established in 2013, PBF Solutions supports financial ...
  
  Read more

• UK borrowing at lowest since financial crisis; pound resilient against ... - Telegraph.co.uk

  21-09-2017 09:39
  Telegraph.co.uk
  UK borrowing at lowest since financial crisis; pound resilient against ...
  Telegraph.co.uk
  UK public sector borrowing is at its lowest level since the financial crisis, the ONS revealed this morning, giving chancellor Philip Hammond more wiggle room to ...en meer »
  
  Read more

• UK borrowing at lowest since financial crisis; pound resilient against rampant ... - Telegraph.co.uk

  21-09-2017 09:39
  Telegraph.co.uk
  UK borrowing at lowest since financial crisis; pound resilient against rampant ...
  Telegraph.co.uk
  UK public sector borrowing is at its lowest level since the financial crisis, the ONS revealed this morning, giving chancellor Philip Hammond more wiggle room to ease austerity measures in his November budget. Public sector net borrowing in August was ...en meer »
  
  Read more

• Loan sharks are circling, says one of UK's biggest doorstep lenders

  21-09-2017 08:58 via theguardian.com
  Illegal lenders are targeting vulnerable people such as mothers at school gates, says Morses Club chief executiveIllegal loan sharks are still chasing some of the most vulnerable families in Britain, according to the UK’s second-biggest doorstep lender.
  The warning came as the Financial Conduct Authority this week called on the government to help tackle the debt burden of the most vulnerable consumers in Britain. Continue reading...
  
  Read more

• Hidden booking details left us with an unusable Virgin gift voucher

  21-09-2017 08:00 via theguardian.com
  We tried to book before the use-by date, but the website said we were too lateOur sons bought us a Virgin Experience in May, which comprised a tour of the Buckingham Palace state rooms and a champagne afternoon tea at Fortnum & Mason. The vouchers were clearly printed with the use-by date of 29 September 2017. On 16 August we went on the website to make a booking. Only then did we discover in the confusing booking details that we should have made it before 16 June.Continue reading...
  
  Read more

• Which? demands end of flammable plastic backing on fridges

  21-09-2017 01:01 via theguardian.com
  Consumer group urges manufacturers to stop making fridges to ‘deficient’ standard and downgrades dozens of ‘best buys’Manufacturers must stop making fridges and freezers with potentially flammable plastic backing, a consumer group has warned.Which? has written to manufacturers to urge them to stop using non-flame-retardant backing on fridges, freezers and fridge freezers, as it described the current British standard on cold appliances as deficient and inadequate. Continue
  
  Read more

• 70% of brands in Malaysia and Singapore don't disclose palm oil use

  21-09-2017 01:01 via theguardian.com
  WWF rated 47 regional companies and found the majority have no public policies or commitments on sustainable palm oil sourcing A new scorecard rating companies headquartered in Singapore and Malaysia on their palm oil sustainability commitments has found that the majority do not disclose any information on their sourcing practices.The WWF Palm Oil Buyers’ Scorecard surveyed 47 companies, all household brands in Malaysia and Singapore, asking how far along the path they were to sourcing 100
  
  Read more

Follow @financialnwsUK on Twitter!