Financial news

• Is the Bank of England losing its way?

  01-10-2017 13:23 via theguardian.com
  The myth of the Bank’s infallibility was exposed by the financial crisis – booming asset prices and excessively strong credit growth are its legacyThe golden age for central banks is over. That much was plain from the two-day shindig held by the Bank of England to mark the 20th anniversary of its being granted independence by Gordon Brown within days of Labour coming to power in May 1997. Continue reading...
  
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• Tesco continues recovery but could face grilling over supplier of chicken

  01-10-2017 11:48 via theguardian.com
  Supermarket expected to announce rise in sales as questions linger over investigation into 2 Sister Food GroupTesco’s recovery under Dave Lewis since a series of profit warnings is likely to continue this week. Analysts at Deutsche Bank are expecting the supermarket to announce on Wednesday a rise in like-for-like sales in the second quarter to 2% from 0.9% a year ago, despite the continuing competition from discounters Aldi and Lidl. They are forecasting underlying half-year earnings of &
  
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• Engine breaks up on Air France Airbus A380, forcing emergency landing in Canada

  01-10-2017 10:37 via theguardian.com
  Airbus plane taking 520 people from Paris to Los Angeles was diverted to Goose Bay, Newfoundland, following ‘serious damage’ to engineAn Air France A380 superjumbo jetliner taking more than 500 people from Paris to Los Angeles made an emergency landing in Canada on Saturday following “serious damage” to one of its four engines, the airline said.
  “Flight 066 landed without further damage at the Goose Bay military airport in Canada and all of the 520 people on board w
  
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• Jeremy Corbyn’s nationalisation plans are music to ears of public

  01-10-2017 08:54 via theguardian.com
  The Labour leader’s plans to take over railways, water and energy have high levels of public supportFew opinion polls that claim to detect a shift in public attitudes merit the ubiquitous label “landmark research”, but here’s one that does. The Legatum Institute, a thinktank, and Populus have found levels of support for nationalising large parts of the economy that would have been hard to believe a few years ago.The big four industries in the sights of Labour’s Jere
  
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• Will bitcoin ever be a safe investment or always a gamble?

  01-10-2017 08:00 via theguardian.com
  Demand is increasing, alongside criticism, so if you want to get involved in the cryptocurrency then awareness is key. Shane Hickey reportsThe boss of JP Morgan was unequivocal about bitcoin at a recent conference in New York: the digital currency was only fit for drug dealers and would eventually blow up. “[It] isn’t going to work,” said Jamie Dimon. “You can’t have a business where people can invent a currency out of thin air and think that the people who are
  
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• HSBC app will show all your bank accounts in one place

  01-10-2017 08:00 via theguardian.com
  Users will be able to view and manage accounts, including loans and mortgages, from 21 providersBanking customers will soon be able to see all their accounts from different providers in one place, making it easier for them to manage their money, it is claimed.HSBC is trialling an app with 10,000 customers from the end of October, ahead of a general release to its UK customers in early 2018. It says the app will give people a “joined-up view of their financial life” and that it i
  
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• Costa Rica hotel hits wrong note as it charges us for pre-paid rooms

  01-10-2017 08:00 via theguardian.com
  The travel agent took our choir group’s money for the booking but did not pay the hotelWe have just returned from an enjoyable choir tour to Costa Rica. When our party of 54 arrived at the hotel in San José that had been booked by our Costa Rican travel agent, we were asked to give credit card details as normal. When we checked out five days later we each settled our bar expenses etc. But a week later we found our credit card accounts had been debited by the hotel for the equivalent
  
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• Lord Bhattacharyya: Professor Fix-it of British industry

  01-10-2017 06:58 via theguardian.com
  Labour peer and founder of manufacturing research hub WMG has served prime ministers of all shades since the 1980sLord Bhattacharyya of Moseley has been on speed-dial for prime ministers and captains of industry since Margaret Thatcher first sought his advice on how to reshape British industry with her ambitious privatisation programme.Bhattacharyya, the 77-year-old regius professor of manufacturing and chairman of Warwick university’s Manufacturing Group (WMG), is also a business adviser
  
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• Labour Leavers’ claims that EU blocks state takeovers are rejected by experts

  01-10-2017 06:56 via theguardian.com
  EU officials bewildered by claims the union is a one-size fits all club when there are many more social democratic, statist members than the UKThere is a group of Labour MPs who support a clean Brexit to break free from the shackles of a corporatist cartel that blocks state intervention.Labour leader Jeremy Corbyn has long been sympathetic to the Labour Brexit – or “Lexit” – argument for the UK to leave the single market, if not the customs union, to escape a Brussels oli
  
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• 'They are after our money' North Korea will try to loot UK financial sector, warns ... - Express.co.uk

  01-10-2017 03:15
  Express.co.uk
  'They are after our money' North Korea will try to loot UK financial sector, warns ...
  Express.co.uk
  NORTH Korea will attempt to loot Britain's financial sector as Kim Jong-un's tyrannical regime engages in cyber-warfare, a former GCHQ head has warned. By Sam Sholli. PUBLISHED: 00:55, Sun, Oct 1, 2017 | UPDATED: 02:26, Sun, Oct 1, 2017 ...en meer »
  
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• The Observer view on the future of work | Observer editorial

  01-10-2017 01:05 via theguardian.com
  We must focus our energies on helping those whose jobs will be removed by automationIn his speech at Labour’s conference in Brighton last week, Jeremy Corbyn made an astute observation: “2017 may be the year when politics finally caught up with the crash of 2008.” The financial crisis not only sent shockwaves rippling through the global economy: it sounded a warning bell that all was not well with a weakly regulated economic model powered by consumer debt bubbles and rapid hous
  
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• Michael O’Leary: turbulent times for money-saving master of the skies | Observer profile

  01-10-2017 01:05 via theguardian.com
  The cancellation of 20,000 flights has brought the Ryanair boss down to earth with a bump. Usually the colourful pioneer is adept at turning reversals to his advantage. Can he once again?Never one to miss a photo-opportunity, Ryanair boss, Michael O’Leary, jumped up on to a plinth inside Belfast’s Europa hotel. Goofing around like a child, he pretended to be a plane, his arms stuck out like wings.It was March 2016 and O’Leary was at the Europa, repeatedly attacked during the Tr
  
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• Tesco climbing back to profit after scandal

  01-10-2017 01:01 via feedproxy.google.com
  Tesco is set to say on Monday that its recovery is gathering pace, and is expected to unveil an interim net profit for the first time since its 2014 accounting scandal.
  
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• Ryanair's Michael O’Leary gets vote of confidence despite cancellation chaos

  01-10-2017 01:01 via feedproxy.google.com
  Ryanair chief executive Michael O’Leary has been given a vote of confidence by some of its biggest institutional investors, despite the chaos engulfing the budget carrier.
  
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• Is Theresa May's defence of free market capitalism too little too late, asks GEOFF HO

  01-10-2017 01:01 via feedproxy.google.com
  Theresa May last week finally started defending free market capitalism but it felt like too little, too late.
  
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