Financial news

• UK, Germany, France 'stand committed' to Iran deal - Financial Express

  13-10-2017 23:30
  Financial Express
  UK, Germany, France 'stand committed' to Iran deal
  Financial Express
  The leaders of Britain, France and Germany today said they remain committed to the international nuclear deal with Iran after US President Donald Trump refused to certify the agreement. By: AFP | London | Published: October 14, 2017 2:58 AM. Iran, Iran ...en meer »
  
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• Great Western mainline: what does a £10bn rail upgrade buy you?

  13-10-2017 20:30 via theguardian.com
  The huge project overran and cost far more than planned, but passengers can expect more services and faster journeysIt has come years late, with bits missing and at double the price. But a landmark moment in one of rail’s most costly and controversial sagas, the Great Western mainline upgrade, may still give cause for appreciation this week, when an Inter City Express train carries passengers for the first time along an electrified section of the route.The train and, in particular, the ele
  
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• Cabot Credit expected to launch £1bn market flotation next week

  13-10-2017 20:28 via theguardian.com
  Stock market flotation plan of UK’s biggest debt collector thought to be back on track after earlier delayThe UK’s biggest debt collector, Cabot Credit Management, is understood to be preparing to launch a £1bn stock market flotation next week.The flotation plan is said to be back on track after being delayed because Peter Crook, the former chief executive of troubled Provident Financial, had resigned from its board. Continue reading...
  
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• Provident Financial to hire debt collectors to revive doorstep lending

  13-10-2017 19:58 via theguardian.com
  Company cancels full-year dividend and recruits staff, including many axed earlier this year in failed restructuringProvident Financial is hiring debt collection agents, after axing them earlier this year, in an attempt to revive its door-to-door lending operation, which is on course to lose £120m in 2017.
  As the subprime lender confirmed the cancellation of its full-year dividend, it said it was recruiting 300 more staff to collect debt payments door to door. Many of these had worked for
  
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• Hammond says he regrets calling EU negotiators 'the enemy'

  13-10-2017 18:56 via theguardian.com
  Chancellor backtracks after saying Conservatives should stop fighting and focus on ‘opponents’ on other side of tableThe chancellor has backtracked on his description of the EU’s Brexit negotiators as “the enemy” after he tried to portray the feuding UK cabinet as united against Brussels.Philip Hammond, a leading remainer in the cabinet and one of the most vocal advocates for a soft Brexit, said the Conservatives should stop fighting among themselves and concentrate
  
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• World stocks hits fresh highs, as bitcoin keeps climbing – as it happened

  13-10-2017 18:43 via theguardian.com
  All the day’s economic and financial news, as new Chinese trade figures beat expectationsBitcoin hit $5,800Chinese imports surge by 18.7%, suggesting strong demand
  US surplus hits record high, but trade with North Korea tumblesMSCI World Index hits new peakFTSE 100 hit new closing high last nightComing up: US inflation; IMF meeting5.43pm BSTAn uncertain day for markets saw the FTSE 100 end lower after hitting a new closing peak on Thursday. A profit warning from GKN did not help, but the i
  
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• Zara's UK profits drop sharply despite record sales

  13-10-2017 18:11 via theguardian.com
  Fashion chain blames fall on investment programme involving store refurbishments and moving its London head officeZara has recorded a sharp fall in UK profits despite sales breaking through the £600m barrier for the first time.Pre-tax profits at the British subsidiary of the Spanish fashion group Inditex, which owns the Zara brand, dropped by one-third to £39.2m in the year to 31 January, down from £58.3m in 2016. Sales rose by 13% to £602.7m. Continue reading...
  
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• Hammond risks souring relations by calling EU negotiators 'the enemy'

  13-10-2017 17:43 via theguardian.com
  Chancellor says Conservatives should stop fighting each other and focus on ‘opponents’ on other side of tableThe chancellor has risked further souring relations between Britain and Brussels after describing the EU’s Brexit negotiators as “the enemy”.Philip Hammond, a leading cabinet remainer and one of the most vocal advocates for a soft Brexit, said the Conservatives should stop fighting among themselves and concentrate on the other side of the Brexit table.Continu
  
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• The Latest: UK treasury chief describes EU as 'the enemy' - Financial Post

  13-10-2017 17:41
  The Latest: UK treasury chief describes EU as 'the enemy'
  Financial Post
  Britain's Treasury chief Philip Hammond has described the European Union as the “enemy” in talks over the country's departure from the 28-nation trading bloc. Hammond has been sharply criticized by members of his own government for his dour approach ...en meer »
  
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• Amazon to create 1,200 jobs with new Bolton warehouse

  13-10-2017 17:33 via theguardian.com
  Warehouse will be third in north-west and will be next-generation facility with staff working alongside robotsAmazon is to create a further 1,200 new jobs with a warehouse in Bolton as it continues its rapid UK expansion.The warehouse, which will be the third to open in the north-west, will be one of a new generation of Amazon facilities that will see staff work alongside robots. Stefano Perego, an Amazon director, said the warehouse would take the total number of new permanent jobs the company
  
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• Former London church becomes one-stop wedding shop

  13-10-2017 17:04 via theguardian.com
  With the average event costing £27,000, the Wedding Gallery plans to supply everything a bride and groom might needWith its grand Ionic portico and belfry tower, Grade I-listed Number One Marylebone is an imposing building. The deconsecrated former Holy Trinity Church, just across the road from Regent’s Park in the heart of London, was built in 1828 to the design of Sir John Soane to celebrate the defeat of Napoleon. Now, however, it is being refurbished to cash in on the fast-growin
  
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• Big six energy firms lose 163,000 customers as British Gas raises prices

  13-10-2017 16:11 via theguardian.com
  Electricity and gas users ditch British Gas, EDF, E.ON, Npower, SSE and Scottish Power for smaller suppliersThe big six energy companies suffered a record exodus of more than 160,000 customers to smaller rivals in September, as British Gas increased electricity prices for millions of households.A monthly all-time high of 163,000 people left the largest suppliers – British Gas, EDF, E.ON, Npower, SSE and ScottishPower – which have about 80% of the market. Continue reading...
  
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• Form 8.3 - Booker Group plc - Business Wire (press release)

  13-10-2017 16:07
  Form 8.3 - Booker Group plc
  Business Wire (press release)
  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c), Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each ...en meer »
  
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• FCA met Saudi Aramco before trying to change rules for $2tn flotation

  13-10-2017 13:50 via theguardian.com
  Regulator has attracted controversy by allegedly seeking to water down rules to attract oil company’s IPO to LondonThe chief executive of the Financial Conduct Authority has admitted meeting officials from Saudi Aramco before publishing plans to water down rules in an attempt to attract the $2tn (£1.5tn) stock market listing of the oil giant to London.Andrew Bailey told MPs that the meeting with officials from the Gulf kingdom’s state oil company, planning the world’s big
  
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• Just Eat's £200 million acquisition of Hungryhouse provisionally cleared by regulators

  13-10-2017 13:46 via feedproxy.google.com
  JUST Eat’s £200 million acquisition of rival takeaway ordering website Hungryhouse has been provisionally cleared by regulators.
  
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• UK financial watchdog admits to meeting Aramco ahead of proposing listing ... - Middle East Eye

  13-10-2017 13:44
  Middle East Eye
  UK financial watchdog admits to meeting Aramco ahead of proposing listing ...
  Middle East Eye
  The head of the UK's financial watchdog admitted that he met with Saudi Aramco early this year before the regulator published its proposals for new listing rules in July. The Financial Conduct Authority (FCA) in July proposed the new listing category ...en meer »
  
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• Scotch whisky sales hangover: Budget tax hike blamed for UK sales dip

  13-10-2017 13:40 via feedproxy.google.com
  A BUDGET tax hike has been blamed for a UK whisky sales hangover.
  
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• Oakam Accelerates Financial Inclusion in the UK with Alternative Data - Bobsguide (press release)

  13-10-2017 13:22
  Bobsguide (press release)
  Oakam Accelerates Financial Inclusion in the UK with Alternative Data
  Bobsguide (press release)
  LONDON – 9 October 2017 – Digital micro-lender, Oakam has provided over 420,000 loans totalling over £320 million to consumers overlooked by mainstream financial institutions since 2006. Alternative data is enabling Oakam to employ new methods in ...
  
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• I was an apprentice. Why have others following that path been betrayed? | Hugh Muir

  13-10-2017 13:08 via theguardian.com
  This muddled government insisted it was pro-apprenticeships, then made it harder for businesses to employ them. How will they fix this mess?Somewhere in my attic there is a fading, yellowing scroll with a candle-wax seal handed to me for signature in 1982. It detailed a bargain between me and South Essex Recorders, part of Home Counties Newspapers, trading in this instance as the Newham Recorder in east London. I’m still not sure who got the best of the deal: for five years they couldn&rsq
  
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• James Murdoch re-elected as Sky chairman despite investors' rebellion

  13-10-2017 12:31 via feedproxy.google.com
  JAMES Murdoch was re-elected as Sky chairman yesterday, despite a rebellion by investors concerned about his role amid a proposed takeover of the company by his father Rupert’s 21st Century Fox.
  
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• Uber launches appeal against loss of London licence

  13-10-2017 12:06 via theguardian.com
  Ride-hailing service hopes to reverse TfL ruling that it is not ‘fit and proper’ company to run taxi services in capital
  Uber has lodged its legal appeal against Transport for London’s decision not to renew its private hire licence, as the ride-hailing app steps up its campaign to keep operating in one of its biggest markets.Uber London filed papers with Westminster magistrates court in an attempt to reverse a ruling that it is not a “fit and proper” company to run
  
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• RESPONSETAP secures £3.5M bank backing to expand its call tracking and analytics solution

  13-10-2017 12:00 via feedproxy.google.com
  CALL tracking pioneer ResponseTap, whose tech is dialling up the value of the phone for sales and marketing teams, will be ringing in more changes after sealing a £3.5m Yorkshire and Clydesdale Bank deal.
  
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• Pound v US dollar: GBP rebounds against USD over transitional Brexit deal reports

  13-10-2017 11:06 via feedproxy.google.com
  FRESH suggestions that the EU could offer Britain a transitional Brexit deal have lifted the pound to a twelve-day high versus the US dollar this morning.
  
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• James Murdoch re-elected Sky chair despite shareholder revolt

  13-10-2017 10:06 via theguardian.com
  Dissenters’ concern centres on potential conflict of interest given role as CEO of 21st Century Fox, which is trying to buy SkyJames Murdoch has narrowly survived a rebellion by independent Sky shareholders to be re-elected as chair of the British satellite broadcaster.Just 51.6% backed Murdoch to stay in the top job. Concern among the dissenters centres around what they see as a potential conflict of interest, given his role as chief executive of 21st Century Fox, which is trying to buy S
  
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• BITCOIN WARNING: IMF chief warns virtual currency could cause 'massive disruptions'

  13-10-2017 09:39 via feedproxy.google.com
  BITCOIN could cause “massive disruptions” in the global financial market, the head of the International Monetary Fund has warned.
  
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• Cryptocurrency craze wins over Harry Redknapp – but gets red card from others | Nils Pratley

  13-10-2017 08:22 via theguardian.com
  Ex-football boss is ‘proper excited’ about something dismissed by IMF, bankers and economistsThe trouble with these cryptocurrencies is that expert opinion is so divided. In the sceptical camp, you have the likes of Kenneth Rogoff, the former chief economist of the International Monetary Fund; Jamie Dimon, the chief executive of one of the world’s largest banks, JP Morgan; and our own Financial Conduct Authority. In the other camp, there’s Harry Redknapp.Yes, the football
  
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• Remortgage now to grab a cheap fixed-rate deal … before they’re gone

  13-10-2017 08:01 via theguardian.com
  An expected interest rate rise means lenders are pulling their cheapest deals. We survey the best left on the marketIt’s crunch time for anyone thinking about switching to a new mortgage, after a string of lenders hiked the cost of their fixed-rate home loans.During the past few days, lenders have been frantically pulling their lowest-priced deals or repricing them upwards as they prepare for an interest rate rise that could come as early as next month. Continue reading...
  
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• Business Made Simple events: Reading

  13-10-2017 08:00 via theguardian.com
  Join us on 21 November, for an evening of advice and inspiration for new businesses, including a talk from a top entrepreneur and a tech skills masterclassThe Guardian Business Made Simple events series, to guide you and your business, is coming to Reading with an expert masterclass and keynote address on Tuesday 21 November, 6-9pm.Entrepreneur Darron Anley, founder of Siren Craft Brew in Reading, will give a talk, discussing his recent success in starting a brewery business, followed by a Q&
  
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• All change at the Fed? Yellen's term ends soon but Trump won't say if she'll stay

  13-10-2017 08:00 via theguardian.com
  The president, true to form, has been teasing the public about the identity of the next Fed chair, and Wall Street is watching with interest – and some anxietyThe Federal Reserve chair, Janet Yellen, will end her term in February, and Donald Trump has yet to say if he will follow tradition and renominate the Obama-appointed incumbent to a second term – or nominate someone of his own choosing. Related: The great unwinding: Fed begins slow demise of its post-crash stimulusContinue read
  
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• Live on the waterfront – in pictures

  13-10-2017 07:30 via theguardian.com
  You can be a contender with the extraordinary 70-metre Bougainville houseboat, but it’ll cost you £770,000 Continue reading...
  
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• Christian Candy sells New York penthouse after slashing price

  13-10-2017 07:00 via theguardian.com
  Developer, who is locked in a bitter court dispute with a former friend, has sold or remortgaged £300m of assets in past yearThe multimillionaire property developer Christian Candy has sold a three-storey penthouse above the Plaza Hotel in New York City for $32.7m (£24.6m) – almost half the original asking price. New York City property records show the 6,319 sq ft (587 sq m) penthouse with sweeping views of Central Park was sold for $26.3m less than Candy had first listed the a
  
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• Pound V euro: GBP exchange rate against EUR surges amid Brexit deal reports

  13-10-2017 01:00 via feedproxy.google.com
  AFTER a fairly volatile day of trade, the pound is punching higher against the euro this morning following reports the UK could be offered a two-year Brexit transitional agreement.
  
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