Financial news

• May seeks Brexit momentum with promise to EU nationals in UK - Financial Post

  18-10-2017 23:38
  Financial Post
  May seeks Brexit momentum with promise to EU nationals in UK
  Financial Post
  Britain's Prime Minister Theresa May leaves 10 Downing Street in London, as the capital was bathed in an orange sky Monday, Oct. 16, 2017. The unusual hue of the sky was thought to be due to the remnants of the hurricane dragging in tropical air and ...
  European Union parliament chief snipes at UK over BrexitFinancial Express
  Potential Brexit 'no-deal' exciting UK politiciansCPI Financialalle 1.054 nieuws
  
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• UK: Lord Hain to question role of UK and European financial institutions in State ... - Daily Maverick

  18-10-2017 22:13
  Daily Maverick
  UK: Lord Hain to question role of UK and European financial institutions in State ...
  Daily Maverick
  Anticipation is mounting in relation to an oral question that Labour peer, Lord Peter Hain of Neath, is due to table in the House of Lords on Thursday about the role of UK and European Union-based financial institutions in facilitating a transnational ...
  UK probes alleged money laundering link to South AfricaFinancial Post
  Concerns over UK financial institutions' role in South Af
  
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• BrewDog plans to crowdfund £50million for global expansion

  18-10-2017 21:02 via feedproxy.google.com
  BREWDOG plans to raise up to £50million to underpin a fresh expansion drive which will include the launch of a craft beer TV network.
  
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• Chancellor asks for scrutiny of UK bank links to South Africa corruption inquiry

  18-10-2017 20:53 via theguardian.com
  Alleged ties between wealthy Gupta family and President Zuma prompt concern HSBC and others could be exposed to illicit fundsThe chancellor has asked UK enforcement agencies to look into whether British banking groups HSBC and Standard Chartered are linked to South Africa’s corruption inquiry into alleged ties between the wealthy Gupta family and President Jacob Zuma.According to letters seen by the Guardian, Philip Hammond has passed concerns raised by former Labour cabinet minister Peter
  
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• Reckitt Benckiser's sales warning is a product of mixed priorities | Nils Pratley

  18-10-2017 20:33 via theguardian.com
  The previously lean machine behind Dettol and Durex has bet its future on branching out and scepticism is the right responseReckitt Benckiser, the Dettol to Durex empire, has enriched its investors splendidly over the past decade – the shares have travelled from £27 to £68 – but the engine now seems to be spluttering. The third-quarter update delivered a second sales warning of the year. Like-for-like revenues will be flat in 2017, which hasn’t happened in any year
  
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• Real wages fall despite low levels of unemployment

  18-10-2017 20:05 via theguardian.com
  Average earnings of UK workers are now no higher than they were in February 2006, official figures reveal Rising inflation … you can’t blame the worker this timeThe lowest levels of unemployment since the mid-70s are still failing to boost the bargaining power of workers in the UK, as official figures show Britain’s pay squeeze entered its sixth month. Average earnings excluding bonuses increased by 2.1% in the three months to August, down from 2.2% in the three months to July
  
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• Phones 4u​ founder's former adviser wanted control, high court hears

  18-10-2017 19:45 via theguardian.com
  John Caudwell in court to hear claims Nathalie Dauriac was ‘confrontational, uncooperative and evasive’A French financial expert wanted control of the company which managed Phones 4u founder John Caudwell’s wealth and was “confrontational and uncooperative”, the high court has heard.Nathalie Dauriac, a former Coutts banker, claims she was wrongly dismissed in 2014 from Signia Wealth, the financial management company she co-founded with Caudwell, and should have rece
  
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• Call for inquiry into privately financed public projects in Scotland

  18-10-2017 18:40 via theguardian.com
  Contracts including for schools, hospitals and roads shrouded in secrecy and offer poor value for probable £7.6bn cost to taxpayers, say expertsAn expert report has raised concerns about unjustified secrecy and poor value for money in privately financed projects in Scotland.
  The report by two senior economists says there is a pressing need for an inquiry into whether the fast-increasing use of private financing by Scottish ministries and their agencies is in the public interest. Continue r
  
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• Homes with famous former owners – in pictures

  18-10-2017 17:29 via theguardian.com
  See houses where painter LS Lowry and singer Edith Piaf once lived, plus those of authors Catherine Cookson and Roger Hargreaves Continue reading...
  
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• Intellectual property laws demand a 21st-century solution

  18-10-2017 17:13 via theguardian.com
  The health and wellbeing of people should be put before corporate profitsWhen the South African government attempted to amend its laws in 1997 to avail itself of affordable generic medicines for the treatment of HIV/Aids, the full legal might of the global pharmaceutical industry bore down on the country, delaying implementation and extracting a high human cost. South Africa eventually won its case, but the government learned its lesson: it did not try again to put its citizens’ health and
  
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• Angels Fancy Dress spell out hottest Halloween fancy dress trends as sales rocket

  18-10-2017 16:56 via feedproxy.google.com
  ANGELS Fancy Dress, the UK’s largest and longest-established fancy dress supplier and costume hire company, is set for its most successful Halloween season yet.
  
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• Will interest rates rise in November? Bank of England's DILEMMA after wage data

  18-10-2017 16:20 via feedproxy.google.com
  SAVERS look set for a boost while millions of family budgets are stretched from next month when the Bank of England is likely to raise interest rates.
  
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• Six ways the UK's financial regulation system is a protection racket ... - Left Foot Forward

  18-10-2017 15:36
  Left Foot Forward
  Six ways the UK's financial regulation system is a protection racket ...
  Left Foot Forward
  Regulators and government keep covering for large corporations' failures. After yet another stitch up, accounting expert Prem Sikka is calling it out.en meer »
  
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• Hofmeister redux as real Bavarian craft lager wins global beer award

  18-10-2017 15:32 via theguardian.com
  Beer named best lager of 2017 at the IWSC after relaunch consigns unbearable 80s ‘Eurofizz’ recipe and reputation to historyHofmeister, the lager that became a byword for bad beer in the 1980s, has won a global drinks competition after it was relaunched with a new recipe. Related: George the bear seeks new followers as Hofmeister lager returnsContinue reading...
  
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• Brexit deadlock means time is running out fast for businesses

  18-10-2017 15:30 via theguardian.com
  In the absence of progress business leaders will be soon be forced to make irreversible decisions on future investment and employmentOpponents of Brexit are simply “playing for time”, David Davis has claimed, amid growing signs of political deadlock in both Brussels and Westminster. But for the potential victims of a disorderly Brexit, time is the one thing they don’t have.Businesses say this week’s failure to make progress on on either EU exit talks or domestic Brexit le
  
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• Lloyds shareholders 'mugged' by 2008 HBOS takeover, high court told

  18-10-2017 15:19 via theguardian.com
  Investors suing the group claim they were not informed that HBOS was a ‘bust, failed bank’ when they voted for the dealShareholders in Lloyds Banking Group were “mugged” by the bank and five of its former directors during the takeover of HBOS in 2008, the high court has heard.On the first day of a case which is expected to require former Lloyds chairman Sir Victor Blank and ex-chief executive Eric Daniels to give evidence, the court heard the deal took place amid interven
  
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• UK wage squeeze continues, as jobless rate remains at 42-year low – as it happened

  18-10-2017 15:00 via theguardian.com
  All the day’s economic and financial news, including the latest UK labour force statisticsBREAKING: Pay still lagging behind inflationBasic pay rose by just 2.1% in the last yearCHART: Real wages back at 2006 levelsJobless rate remains at 4.3%, the lowest since 1975Unemployment has fallen againYesterday, inflation rose to 3% 2.00pm BSTAnd finally.... here’s our economics editor Larry Elliott on today’s labour market report:Firstly, it is clear that the economy is great at creat
  
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• Rising inflation … can't blame the workers this time

  18-10-2017 14:06 via theguardian.com
  Latest UK labour market snapshot shows 70s model of wage-price spiral is dead and adds to argument against interest rate riseReal wages fall despite low levels of unemploymentDon’t blame the workers for the highest inflation in more than five years. That’s the message from the latest monthly snapshot of the labour market showing that earnings growth is stubbornly low despite the lowest jobless rate since the mid-1970s.Back then, any pick up in the cost of living would lead to a deman
  
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• Tesco stocks green satsumas in drive to reduce food waste

  18-10-2017 13:51 via theguardian.com
  Supermarket says easy-peelers are ripe and edible but failed to turn usual orange colour due to hotter weather in SpainTesco has started selling “green” satsumas and clementines after relaxing its quality specifications in its latest attempt to reduce food waste. The flesh inside is orange, ripe and edible, but as a result of recent warm weather in Spain the skins have failed to turn the normal colour.Continue reading...
  
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• Half of UK adults show signs of financial vulnerability according to the City ... - City A.M.

  18-10-2017 13:26
  City A.M.
  Half of UK adults show signs of financial vulnerability according to the City ...
  City A.M.
  Half of adults in the UK display at last one characteristic signalling their potential vulnerability to financial harm, according to the Financial Conduct Authority (FCA). Vulnerability, stated the the FCA in its Financial Lives survey published today ...
  FCA: Half of UK adults in 'potentially vulnerable' financial situationFinancial Times
  UK financial services watchdog to investigate debt mana
  
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• Half of UK adults are financially vulnerable, City watchdog finds

  18-10-2017 12:13 via theguardian.com
  FCA figures will increase concern among policymakers over how British households will cope with an interest rate riseHalf of the UK population are financially vulnerable with one in six people unable to cope with a £50 increase in monthly bills, according to a survey of Britain’s personal finances by the City regulator.The Financial Conduct Authority’s biggest ever survey of households found that 4.1 million people are already in serious financial difficulty, falling behind wit
  
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• George Soros gives $18bn to his charitable foundation

  18-10-2017 11:16 via theguardian.com
  Hungary-born financier’s donation makes his Open Society Foundations the third largest charitable foundation in the worldThe financier George Soros has transferred about $18bn (£13.7bn) to his human rights foundation, bringing his lifetime giving to $32bn and making the foundation one of the world’s largest. The donation makes Soros’s Open Society Foundations the third largest charitable foundation in the world, behind the Bill and Melinda Gates foundation and the Wellcom
  
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• Rio Tinto charged with fraud in US and fined £27.4m in UK

  18-10-2017 11:04 via theguardian.com
  Regulators take legal action against miner for overstating value of coal assets in Africa as two former top executives are accused of hiding lossesAnglo-Australian mining giant Rio Tinto has been charged with fraud in the US and fined £27.4m in the UK after being accused of overstating the value of African coal assets.The FTSE 100 company and two of its top former executives were charged in the US of hiding losses by inflating the value of assets in Mozambique, which Rio bought in 2011 for
  
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• Energy firms warned to drop worst-value tariffs or face action

  18-10-2017 09:09 via theguardian.com
  Ofgem says besides price caps it can force companies to offer cheaper deals to customers on standard variable ratesBig energy companies face a regulatory crackdown after the industry watchdog threatened to impose targets forcing suppliers to shift millions of customers off the market’s worst-value tariffs. Dermot Nolan, the Ofgem chief executive, said companies had failed to act quickly enough and should move faster to take customers off the standard variable tariffs which about two-thirds
  
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• Government plans crackdown on 'overpriced' property service charges

  18-10-2017 08:01 via theguardian.com
  Ministers considering changing law to protect leaseholders, as well as tenants facing large bills for repairs and servicesProposals to crack down on “overpriced” service charges and “unfair” costs paid by renters and leaseholders in England have been unveiled by the government.Sajid Javid, the communities secretary, said ministers were considering changing the law to create a fairer property management system and make it easier to outlaw “rogue” letting and ma
  
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• Endsleigh made me pay after a car near to mine burst into flames

  18-10-2017 08:00 via theguardian.com
  The insurer made me pay an excess, increased my premium and cancelled my no-claims bonusI am a 20-year-old student in Aberdeen and have lost my no-claims bonus, paid an excess of £100 and face an increased premium on my car insurance, through no fault of my own.One night last December a car parked near mine burst into flames. My car suffered scorch marks and a few small light fittings were melted. My insurer, Endsleigh, paid promptly to have the paintwork repaired but was uninterested in r
  
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• CFA Institute survey on EU nationals working in UK financial ... - Markets Insider

  18-10-2017 07:08
  Markets Insider
  CFA Institute survey on EU nationals working in UK financial ...
  Markets Insider
  LONDON — Fewer than half of investment managers born in the EU say they're "confident" they will keep living in the UK after Brexit, a survey from the CFA ...en meer »
  
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• Shell to open electric vehicle charging points at UK petrol stations

  18-10-2017 01:01 via theguardian.com
  Oil firm’s first step into UK electric car sector allows drivers to rapid charge battery at handful of forecourts from this weekShell is opening a first wave of electric vehicle charging points at its UK petrol stations, in a sign of the far-reaching changes under way in the transport and oil sectors.Drivers will be able to recharge 80% of their battery in half an hour at forecourts in London, Surrey and Derby from this week, with a total of 10 service stations to be equipped with rapid ch
  
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• Lifetime mortgages help new generation of pensioners make most of retirement

  18-10-2017 01:01 via feedproxy.google.com
  LIFETIME mortgages help a new generation of pensioners make the most of their retirement.
  
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• Pound v US dollar: GBP exchange rate slides as UK pay growth lags behind inflation

  18-10-2017 01:00 via feedproxy.google.com
  THE pound slipped further against the US dollar this morning as data showed that UK wage growth remains subdued in the face of rapidly rising inflation.
  
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• Pound V euro: GBP flat against EUR as joblessness falls but real wages shrink

  18-10-2017 01:00 via feedproxy.google.com
  THE latest UK jobs data has failed to impress the markets, leaving the pound to euro exchange rate up only a fraction on opening levels.
  
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• Merlin Entertainments shares plunge after UK terror attacks see 'difficult' summer trading

  18-10-2017 01:00 via feedproxy.google.com
  THE owner of Madame Tussauds and Alton Towers has seen its shares plunge by a fifth as UK terror attacks took the shine off a worldwide Peppa Pig deal.
  
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• Hornby warns over full-year profits as the toymaker's chairman stands down

  18-10-2017 01:00 via feedproxy.google.com
  HORNBY has again warned over full-year profits and the group's chairman is to quit as the model toymaker grapples with falling revenue.
  
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• Boost for specialist car makers with 60 per cent production rise expected by 2020

  18-10-2017 01:00 via feedproxy.google.com
  SPECIALIST car makers could experience a 60 per cent production boost by 2020, according to a report.
  
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