Financial news

• UK private equity is heading for its strongest year since the financial crisis with ... - City A.M.

  28-09-2017 23:51
  City A.M.
  UK private equity is heading for its strongest year since the financial crisis with ...
  City A.M.
  Private equity investment in UK companies is heading for its strongest year since the financial crisis, as the third quarter of this year saw the highest amount of money invested since 2007. Buyout houses dug into 44 deals worth a combined £12bn ...
  
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• BlackBerry shares soar by 12% as software sales hit record

  28-09-2017 21:23 via theguardian.com
  Transformation from loss-making smartphone maker to software firm continues as quarterly profits rise and yearly outlook is ‘robust’The transformation of BlackBerry from a bombed-out, loss-making smartphone maker to a new-look software firm appears to be working: the Canadian business has reported better-than-expected quarterly profits, boosting its shares by more than 12%.The company, which was famous for its tiny keyboard phones and in 2010 had more than a third of the US smartphon
  
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• Gordon Brown warns UK is 'sleepwalking' into another financial ... - Express.co.uk

  28-09-2017 21:00
  Express.co.uk
  Gordon Brown warns UK is 'sleepwalking' into another financial ...
  Express.co.uk
  GORDON BROWN has warned that Britain risks 'sleepwalking' into another financial crisis if the G20 fails to create an early warning system and clamp down on ...en meer »
  
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• Ryanair ordered to tell passengers of options after flights cancelled

  28-09-2017 20:52 via theguardian.com
  Aviation regulator tells airline to explain by 5pm Friday how it will reroute 400,000 people affected by scrapped flights
  Ryanair has been ordered to tell hundreds of thousands of passengers how it proposes to provide alternatives to cancelled flights by 5pm on Friday. As criticism of the Ryanair’s treatment of affected passengers intensified, the aviation regulator told the Irish airline to explain how it will reroute passengers and email all those affected by Wednesday to explain their o
  
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• Ryanair is in crisis, but Michael O'Leary is barely facing any City scrutiny

  28-09-2017 20:50 via theguardian.com
  Even with 18,000 flights cancelled, almost nobody is asking if the outspoken chief executive is still the right person for the jobMichael O’Leary is a lucky man. As the Ryanair cancellation crisis has gone from bad to worse, despite the chief executive’s insistence that it wouldn’t, almost nobody is asking whether he is still the right person for the job.The question would be asked at most listed companies in Ryanair’s position. The second round of cancellations will affe
  
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• Uber licence withdrawal disproportionate, says Theresa May

  28-09-2017 20:47 via theguardian.com
  Prime minister accuses London mayor of ‘damaging lives’ of users, but acknowledges ride-hailing firm must address safety issuesTheresa May has said the decision not to renew Uber’s London licence is disproportionate, and accused the mayor, Sadiq Khan, of putting thousands of jobs at risk. The ride-hailing company to appeal against the decision by Transport for London not to renew its licence to operate in the capital for reasons of public safety.Continue reading...
  
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• Ikea enters gig economy by buying freelance labour firm TaskRabbit

  28-09-2017 20:15 via theguardian.com
  Swedish homeware chain says acquisition is ‘exciting leap’, with TaskRabbit app linking tradespeople with consumersIkea has bought the gig economy odd-jobs company TaskRabbit, becoming the latest retailer to move into offering services alongside products.Jesper Brodin, the president and chief executive of Ikea Group, said the Swedish homeware chain was responding to increasing urbanisation and a shift to digital shopping that challenged traditional retail. Continue reading...
  
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• Sir Richard Greenbury obituary

  28-09-2017 19:59 via theguardian.com
  Chief executive and later chairman of Marks & Spencer, whose forthright manner was a factor in his success and his eventual downfallSir Richard Greenbury, who has died aged 81, joined Marks & Spencer at the age of 16 and rose to become chief executive and chairman. By the time he stepped down in 1999, he had worked for the company for 46 years.In the mid 1990s, under his chairmanship, it seemed that M&S could do no wrong. The retailer, founded more than 100 years before by Michael Ma
  
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• Wonga loses £65m but insists it is on track to be profitable again

  28-09-2017 19:07 via theguardian.com
  Payday lender cites end of sponsorship of Newcastle United in 2016 annual report as one factor behind expected improvementWonga made a loss of nearly £65m last year, but has insisted that it is on track to return to profitability in 2017, in part due to its Newcastle United sponsorship ending.The UK’s biggest payday lender was forced to tear up its business model in 2014 after running into regulatory problems and because of the cap on loan rates introduced by the Financial Conduct Au
  
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• Undercover inside the chicken factory - video

  28-09-2017 18:33 via theguardian.com
  A Guardian/ITV News undercover investigation into conditions at a chicken processing factory that supplies Britain's major supermarkets reveals hygiene failures, manipulation of slaughter dates and repackaging of returned meat. The 2 Sisters plant in the West Midlands supplies M&S, Sainsbury's, Tesco, Aldi and Lidl with pre-packaged chicken meat Continue reading...
  
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• The secretive 'chicken king': inside the empire of Ranjit Singh Boparan

  28-09-2017 18:33 via theguardian.com
  After leaving school at 16, the entrepreneur has built up a vast business employing 23,000 peopleHis soft West Midlands accent betrays the fact that Ranjit Singh Boparan has not ventured far from his roots during a career in food. But in business terms he has travelled miles. The entrepreneur, who left school at 16 with few qualifications and spent his early working life toiling in a local butcher’s shop, founded 2 Sisters Food Group in West Bromwich in 1993 with a bank loan, and has since
  
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• The chicken run: blood, sweat and deceit at a UK poultry plant

  28-09-2017 18:33 via theguardian.com
  We sent two undercover journalists to work in the supermarket supply chain and found some alarming food safety practices“Have you just got out of prison?” the slaughterhouse foreman asks his new recruit.It is a question seemingly posed in jest, but probably only to mask a genuine suspicion that a spell in clink is the most likely explanation for an odd situation. Continue reading...
  
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• UK's top supplier of supermarket chicken fiddles food safety dates

  28-09-2017 18:32 via theguardian.com
  Firm supplying Tesco, Sainsbury’s and M&S may have duped customers into buying out-of-date meat, Guardian/ITV News investigation revealsThe chicken run: blood, sweat and deceit in a UK poultry plantThe secretive ‘chicken king’: inside the empire of Ranjit Singh Boparan The largest supplier of chicken to UK supermarkets has been tampering with food safety records in moves that could dupe consumers into buying meat past its use-by date.An investigation by the Guardian and ITV
  
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• Bank of England at risk from populism over economy, says Brown

  28-09-2017 18:11 via theguardian.com
  Former PM says politicians must take joint responsibility with Bank for heading off future financial crises, not rely on expertsGordon Brown has said the Bank of England will be vulnerable to populist demands to “take back control” unless elected politicians accept joint responsibility for heading off future financial crises.The former prime minister called for the creation of a joint Treasury-Bank strategic oversight group to assess risks to the economy, saying it was unfair for Thr
  
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• Central bank independence 'threatened by QE, nationalism, and loss of trust in globalisation' – as it happened

  28-09-2017 17:59 via theguardian.com
  All the day’s economic and financial news, as the Bank of England holds a conference to mark 20 years of setting UK interest ratesLatest: Gordon Brown explains why he set bank free7 reasons why independence is under threatDeAnne Julius: QE has hit public faith in central banksMark Carney warns Bank can’t prevent Brexit hitting real wages
  Earlier:Bank of England marks 20 years of setting interest rates
  Politics Live: Theresa May defends free marketsThe full BoE agenda 4.58pm BSTTime f
  
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• Spanish holiday costs to rise, plus meet the super savers

  28-09-2017 16:45 via theguardian.com
  Also, the redundancy payout nightmare and a piece of Anglesey history goes up for auction
  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...
  
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• Brompton recalls nearly 150,000 folding bicycles over axle fault

  28-09-2017 15:52 via theguardian.com
  British firm announces voluntary recall after part broke on one in 5,000 bikes, in one case resulting in a cyclist being hurtThe British manufacturer Brompton has embarked on an unprecedented recall of nearly 150,000 of its folding bikes over concerns about faulty axles.The London-based company said 144,000 bikes made between April 2014 and May 2017 were affected by the voluntary recall. The company said the German part had failed on one in 5,000 bikes, which would leave the rider unable to peda
  
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• Gordon Brown warns UK will be 'sleepwalking' into another financial crisis ... - Independent.ie

  28-09-2017 15:47
  Independent.ie
  Gordon Brown warns UK will be 'sleepwalking' into another financial crisis ...
  Independent.ie
  The former prime minister said it is essential to develop a full early warning system and better regulation of the shadow banking system. 1. By Kalyeena Makortoff, Press Association City Reporter. September 28 2017 1:41 PM. 0 Comments. Email. Gordon ...en meer »
  
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• Imperial Brands in talks to rescue wholesaler Palmer & Harvey

  28-09-2017 15:42 via theguardian.com
  Tobacco firm working on deal to ease debt crisis at UK’s biggest cigarette distributor, which supplies Tesco and other retailersThe tobacco firm Imperial Brands is working on a rescue deal for the wholesaler Palmer & Harvey, which supplies tobacco to Tesco and other retailers.
  Palmer & Harvey is the biggest cigarette supplier in the UK and employs 4,000 people. Continue reading...
  
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• Lloyd’s of London starts paying out $4.5bn of Harvey and Irma claims

  28-09-2017 15:25 via theguardian.com
  Insurance market says it is still working out its liability for Hurricane Maria, earthquake in Mexico and Asian typhoonsLloyd’s of London, the world’s biggest insurance market, has started paying out the first of $4.5bn (£3.6bn) of claims related to tropical storm Harvey and Hurricane Irma, which wreaked havoc in the southern US and Caribbean.Inga Beale, the Lloyd’s of London chief executive, said: “The market is assessing claims and starting to make payments that w
  
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• UK the riskiest market after China, say finance and tech firms ... - Financial News (subscription)

  28-09-2017 15:07
  Financial News (subscription)
  UK the riskiest market after China, say finance and tech firms ...
  Financial News (subscription)
  Political and economic uncertainty emanating from the Brexit vote have contributed to make the UK the second riskiest market in which to do business – after ...en meer »
  
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• Now Theresa May is defending capitalism. That shows just how rattled she is | Polly Toynbee

  28-09-2017 14:29 via theguardian.com
  She said she needed to be ‘honest’ about failures of the free market. But truths were thin on the ground in her response to Jeremy Corbyn’s conference addressTheresa May’s hasty attempt to refute Jeremy Corbyn’s conference speech shows how far Labour has set her on the back foot. She needs to defend capitalism? Nothing Corbyn or John McDonnell said this week suggested they were about to cast a shroud of Soviet-era command-and-control over the economy, as if queuing
  
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• Ryanair may face legal action over flight cancellations

  28-09-2017 14:27 via theguardian.com
  CAA launches enforcement action against airline for ‘persistently misleading’ people about their rights as more flights scrappedHow have you been affected by Ryanair’s flight cancellations? The Civil Aviation Authority has launched enforcement action against Ryanair for “persistently misleading passengers” about their rights, piling more woe on the airline as it announced a second wave of flight cancellations affecting 400,000 people.In a letter to the Dublin-based
  
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• Bank of England 'failed' UK during financial crisis, says Andrew Tyrie - Independent.ie

  28-09-2017 14:12
  Independent.ie
  Bank of England 'failed' UK during financial crisis, says Andrew Tyrie
  Independent.ie
  The Bank of England “failed” the UK during the last financial crisis, a former MP tipped to head Britain's financial watchdog has said, as he cautioned against “groupthink” at the central bank. Andrew Tyrie, best known for his time as chairman of the ...en meer »
  
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• Ryanair cancellations: Share price SINKS as airline scraps 18,000 flights

  28-09-2017 14:05 via feedproxy.google.com
  RYANAIR'S share price has plunged, after the airline cancelled 18,000 flights in the latest blow to its customers.
  
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• Jeffrey Sachs: ‘The US doesn’t lead the world any more’

  28-09-2017 12:25 via theguardian.com
  The US is now a ‘rogue nation’, believes economist Jeffrey Sachs, but he is optimistic that the rest of the world is still trying to make progressThe US is becoming a ‘rogue state’, economist Jeffrey Sachs has told a Guardian audience. “But let’s not assume that everything is catastrophic right now”.Sachs spoke at the Guardian’s annual UNGA seminar after seeing President Trump speak at the UN, and said he was “shaken” by what he had hea
  
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• Bank of England can't do everything! Carney: BoE can't be expected to nullify Brexit hit

  28-09-2017 12:03 via feedproxy.google.com
  BANK of England Governor Mark Carney has once again outlined a gloomy picture for Britain's future as the UK prepares to leave the European Union - and warned that policymakers have limited means to offset Brexit risks.
  
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• Leuser ecosystem: one of most biodiverse places on Earth under threat – in pictures

  28-09-2017 10:54 via theguardian.com
  The Leuser ecosystem spans 2.6m hectares into the Indonesian provinces of Aceh and North Sumatra. It’s the only place in the world where tigers, orangutans, rhinos and elephants coexist in the wild. But it’s under threat from agricultural industries, including palm oil‘The last place on Earth’: how Sumatra’s rainforest is being cleared for palm oilContinue reading...
  
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• POUND LIVE: Pound on edge amid Theresa May and Mark Carney's Brexit speech

  28-09-2017 09:52 via feedproxy.google.com
  THE pound dipped against the euro and dollar, amid a Brexit speech by Bank of England Governor Mark Carney and Theresa May.
  
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• New Sir Isaac Newton 50p coins released into circulation - will it be rarest 50p?

  28-09-2017 09:47 via feedproxy.google.com
  A NEW Sir Isaac Newton 50p has been released and could become one of the rarest coins in circulation, as the Royal Mint celebrates the 375th anniversary year of the scientist's birth.
  
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• For Julia every month is a desperate fight to pay the bills. She’s a teacher | Frances Ryan

  28-09-2017 09:00 via theguardian.com
  Britain’s debt timebomb isn’t just about zero-hours workers or slashed benefits. Millions on ‘decent’ salaries are being driven to the limit by the cost of livingJulia has a system to survive. Every month, she maxes out her overdraft: £1,000 in the red to pay for utility bills, council tax, mortgage, and food for herself and her daughter. Then the 49-year-old’s salary puts her back in the black – and she does it all over again. Related: Homeless teachers
  
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• UK holidaymakers set to pay for making Spain their favourite getaway

  28-09-2017 07:30 via theguardian.com
  Spain is the top destination for British tourists but increased demand is straining resources and prices may rise by up to 10% for 2018 holidaysWith a record 18 million people visiting last year, Spain is by far the most popular foreign destination for UK holidaymakers. But as the country “fills up” with tourists – picking a package deal to the Costa del Sol or the Balearics over Tunisia, Egypt or Turkey – prices look set to increase.
  Much of the rise in visitor numbers h
  
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• How to save money on household bills

  28-09-2017 07:00 via theguardian.com
  Saving Money Week From water meters to rising energy costs and efficiency, here are some ideas to make your budget stretch furtherHousehold bills have been on an upward trajectory for several years. It’s normally energy bill price hikes that hit the headlines, for good reason – factchecking charity Full Fact found that households paid £883 more for energy in 2016 than in 2010, assuming they used the same amount of gas and electricity, and taking inflation into account. And the
  
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• More than a million people join ranks of very wealthy after stock markets boom

  28-09-2017 05:30 via theguardian.com
  Number of high net worth individuals – with free assets of more than $1m – grows rapidly after US and European shares perform wellMore than 1 million people entered the global ranks of the wealthy last year as booming stock markets increased the number of individuals with free assets of more than $1m (£750,000) to a record 16.5 million.Research by the business consultancy Capgemini found that the world’s high net worth individuals (HNWI) collectively hold a $63.5tn fortun
  
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• Spending splurge ‘to boost UK growth prospects’ says the CBI

  28-09-2017 01:01 via feedproxy.google.com
  RETAIL sales are growing at their fastest for two years as shoppers dig deep to boost growth prospects, according to the Confederation of British Industry.
  
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• Peppa Pig beats forecasts for Entertainment One in China

  28-09-2017 01:01 via feedproxy.google.com
  PEPPA Pig continues to bring home the bacon for Entertainment One.
  
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• GBP v USD: Sterling slides on BoE Independence Anniversary

  28-09-2017 01:01 via feedproxy.google.com
  THE POUND has lost ground against the US dollar today, trading down at a rate of $1.336 and moving further away from the pairing’s recent 14-month high of $1.359.
  
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