Financial news

• UK economy may not withstand interest rate rise – S&P

  04-10-2017 23:56 via theguardian.com
  Ratings agency issues warning after surveys show businesses have not recovered from weak first half of yearThe ratings agency Standard & Poor’s has warned that Britain’s economy may not be strong enough to support an interest rate rise following hints from policymakers that there could be an increase in the cost of borrowing next month.S&P said it was sceptical that the Bank of England could justify a rate rise after recent business surveys showed an expected recovery from a
  
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• Tesco boss declares supermarket’s turnaround is ‘on track’ as dividend payout announced

  04-10-2017 23:44 via feedproxy.google.com
  TESCO boss Dave Lewis declared its turnaround was “firmly on track” as the supermarket announced its first dividend payout for three years alongside a 27 per cent jump in half-year profit.
  
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• Tesco staff under pressure to hit financial targets, fraud trial hears ... - The Guardian

  04-10-2017 20:30
  The Guardian
  Tesco staff under pressure to hit financial targets, fraud trial hears ...
  The Guardian
  Whistleblower tells court difference between profit target and actual profits looked insurmountable.en meer »
  
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• Asda ‘comes to the rescue of drivers’ with 2p petrol price cut

  04-10-2017 19:52 via theguardian.com
  Sainsbury’s and Morrisons follow suit after fall in wholesale cost, reducing price of unleaded petrol by up to 2p per litreThree UK supermarket chains are cutting the price of unleaded petrol after a drop in wholesale costs.Asda was the first to announce a reduction from Thursday of up to 2p per litre at its 308 petrol stations, bringing its national price cap down to £1.14 a litre. Morrisons and then Sainsbury’s followed suit. The cost of filling up with diesel at these retail
  
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• Second day of rail strikes this week set to disrupt services across England

  04-10-2017 19:18 via theguardian.com
  Further industrial action by RMT union members to take place on four franchises this week, with biggest impact in the northStrikes will disrupt rail services around England for a second day this week, in the spreading dispute over the future of guards on trains. Related: Transport chaos looms as rail unions widen strikes over driver-only trainsContinue reading...
  
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• Monarch collapse: union launches legal action over redundancies

  04-10-2017 19:16 via theguardian.com
  Unite seeks compensation for more than 1,800 staff, saying company broke law on notice periodThe Unite union has launched legal action on behalf of more than 1,800 Monarch staff who were laid off, in a move that could add millions to the taxpayers’ bill for the collapse of the airline. Unite, which represents engineers and cabin crew who worked for the airline, said the company had broken the law by failing to consult on redundancies.It has also emerged that some staff were told to call a
  
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• May's pledge on 'rip-off' energy prices keeps UK in dark over cap on bills

  04-10-2017 18:35 via theguardian.com
  ‘Big six’ did not appear to like it, but lack of clarity in speech and clarifications suggest cap is unlikely to come in time for winterTheresa May’s pledge to cap “rip-off” energy prices is about as clear as the average electricity and gas bill.The prime minister promised to introduce a draft bill next week to give the energy regulator, Ofgem, powers to cap the bills of people being “punished” for their loyalty and their inability to shop around. Contin
  
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• Trump's tax reforms are a bigger gift to business than most expected | Joseph Stiglitz

  04-10-2017 15:33 via theguardian.com
  The Republicans’ proposals dodge necessary changes and will leave the country with a mountain of debtHaving failed to “repeal and replace” the 2010 Affordable Care Act (“Obamacare”), Donald Trump’s administration and the Republican congressional majority have now moved on to tax reform. Eight months after assuming office, the administration has been able to offer only an outline of what it has in mind. But what we know is enough to feel a deep sense of alarm.T
  
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• Amazon ordered to repay €250m by EU over 'illegal tax advantages'

  04-10-2017 12:25 via theguardian.com
  Commission also says it plans to take Irish government to European court of justice over failure to collect €13bn from AppleAmazon has been ordered to repay €250m (£222m) in illegal state aid to Luxembourg, as EU authorities continue their campaign against sweetheart deals that help the biggest corporations slash their tax bills.
  The European commission also announced on Wednesday that it planned to take the the Irish government to the European court of justice (ECJ) over its fai
  
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• Why Theresa May’s pledges won’t fix the UK’s housing disaster | Matt Wilde

  04-10-2017 11:47 via theguardian.com
  Rent controls are drastically needed to stop people being priced out of homes. But the Tories are wedded to the free market and won’t let down their landlord friendsIf you want to see cognitive dissonance in action, watch the Conservative party try to develop popular housing policies without contravening its loyalty to developers, landlords or free market fundamentalism. For years, experts from across the housing sector have called for investment in social housing and proper regulation of
  
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• UK stocks waver with investors on edge before services PMI ... - Financial News

  04-10-2017 10:33
  UK stocks waver with investors on edge before services PMI ...
  Financial News
  UK stocks traded in tight ranges Wednesday morning, as investors waited for the last release in the September PMI trilogy after the first two reports hugely ...en meer »
  
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• Leading in a disruptive world: 'it can be tough to get people on side'

  04-10-2017 08:00 via theguardian.com
  How do you galvanise a team when you’re busy trying to turn an industry on its head? Experts and entrepreneurs give their leadership tips for disruptorsA leader is important in any business, but disruptive businesses are arguably even more the product of their leader’s vision. When you’re turning a sector on its head, you’ve got to lead from the front and convince the naysayers – sometimes even within your own team – that it’s the way forward. David Cicc
  
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• Yodel claims it delivered my £400 phone, but it wasn’t to me

  04-10-2017 07:59 via theguardian.com
  It was apparently left in a building with a black door, which describes most of my streetI recently ordered a £400 phone from online company Gearbest and it was dispatched using Yodel’s insured delivery service. Yodel’s website advised that the tracked parcel was left “in a safe place inside the building”, but when I got home from work there was no sign of it. I contacted Yodel, which told me it had been delivered to number 44. I live at 48. My neighbours at 44 had
  
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• Affordable homes in south-east England should cost £250,000 or less, says study

  04-10-2017 07:01 via theguardian.com
  Only a fifth of households can afford to buy the average new home in the region, says Savills reportOnly a fifth of households can afford to buy the average new home in the south-east of England, according to research, which said affordable properties in the region should cost no more than £250,000.Related: May's help-to-buy extension is another boon for housebuilders | Nils PratleyContinue reading...
  
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• Properties near football stadiums – in pictures

  04-10-2017 07:00 via theguardian.com
  Lace up your boots, slip in your shin pads and grab a ball … living in one of these places could inspire you Continue reading...
  
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• Vaginal mesh lawsuit: executive denies prioritising Johnson & Johnson interests

  04-10-2017 06:41 via theguardian.com
  Vice-president denies playing down adverse effects during proceedings brought by hundreds of Australian womenA senior Johnson & Johnson (J&J) executive has denied placing corporate interests ahead of traumatised transvaginal mesh patients when he advised against referring a serious complaint to health regulators. More than 700 Australian women launched a federal court class action against the medical giant three months ago, alleging their lives were all but destroyed by flaws with J&
  
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• Xero adds 41000 UK customers in first half of 2018 financial year - The National Business Review

  04-10-2017 02:45
  The National Business Review
  Xero adds 41000 UK customers in first half of 2018 financial year
  The National Business Review
  Xero's drive to sign new customers in the UK picked up the pace in the first half of the current financial year, adding more than 40,000 new clients and putting it alongside the software developer's home market of New Zealand. Wellington-based Xero ...en meer »
  
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