Financial news

• MPs berate low-cost gym chain over 'self-employed' personal trainers

  02-11-2017 23:45 via theguardian.com
  Frank Field attacks Gym Group’s use of self-employed contracts as ‘egregious’ in latest conflict with gig economy firms such as UberThe controversy over workers being being pushed into “dubious” self-employment has been reignited, with a parliamentary committee accusing a leisure group of “egregious” use of such contracts.The move comes as the ride-hailing firm Uber awaits a decision on its appeal against a landmark employment tribunal judgment last year
  
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• Apple shares hit record high as iPhone X pre-sales fuel 19% rise in profits

  02-11-2017 23:05 via theguardian.com
  Apple worth over $868bn, close to making it world’s first $1tn companyCEO Tim Cook: ‘This was our biggest year ever in most parts of the world’Apple shook off production problems with its latest iPhone on Thursday to report a 19% rise in profits and record pre-sales of iPhone X, the day before its release. The company’s share price hit a record high on the news, moving the company, now worth over $868bn, closer to becoming the world’s first trillion-dollar company.T
  
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• Government delay to NICs changes for self-employed welcomed

  02-11-2017 20:55
  Abolition of class 2 contributions would leave lowest-paid to choose between five-fold NI increase or forfeiting state pensionCampaigners have welcomed a government decision to delay a national insurance change that will leave some low-earning self-employed people facing a 400% increase in their costs if they want to retain their right to a state pension.The Treasury has also suggested that it may consider measures to help those affected, who include part-time tutors and hairdressers. Several hu
  
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• First interest rate rise in 10 years adds to UK mortgage burden

  02-11-2017 20:41
  Bank of England’s raised cost of borrowing, from 0.25% to 0.5%, may add £22 a month to average variable interest rate loansMillions of homeowners face higher mortgage payments after the Bank of England said it could no longer tolerate the inflation level and announced the first increase in interest rates in more than 10 years.Despite weak growth and mounting uncertainty over the terms of Britain’s exit from the EU, Threadneedle Street increased interest rates to 0.5% from 0.25%
  
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• Trump names Jay Powell to replace Janet Yellen as Fed chief

  02-11-2017 20:40 via theguardian.com
  Millionaire Powell, 64, had been widely tipped as Trump’s choiceYellen’s four-year term as Federal Reserve head expires in FebruaryDonald Trump named Jerome “Jay” Powell as the new head of the Federal Reserve, the world’s most powerful central banker, on Thursday. “He’s strong, he’s committed, he’s smart,” Trump said, introducing his appointment in a short address outside the White House. Powell praised his predecessors, Janet Yellen an
  
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• Interest rate hikes are all about timing, which makes this rise bizarre

  02-11-2017 20:15 via theguardian.com
  The Bank of England cut rates last year to deal with a Brexit downturn that didn’t happen but it raised rates now when the risks feel more immediateYou wait 10 years for a rise in interest rates and, when the moment finally arrives, the timing feels completely arbitrary.An easier moment to make the move would have been the start of this year. The August 2016 cut from 0.5% to 0.25% was presented as an emergency measure to prevent a post-referendum recession. When the downturn didn’t a
  
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• Bank of England raises UK interest rates for first time since 2007

  02-11-2017 19:30 via theguardian.com
  Threadneedle Street increases cost of borrowing from 0.25% to 0.5%, reversing emergency action after Brexit voteReaction to the interest rate riseThe Bank of England’s 0.25% rate rise sent the pound tumbling on foreign exchanges as gloomy forecasts for growth appeared to rule out the prospect of steep increases in the cost of credit before 2020. Related: What the interest rate rise will mean for youContinue reading...
  
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• UK rate rise: BoE governor Carney defends decision, pound sinks - as it happened

  02-11-2017 18:59 via theguardian.com
  The Bank of England has voted to hike borrowing costs for the first time since July 2007Pound falls, FTSE 100 rises after BoE decisionCarney defends rate hikeWhat the interest rate rise will mean for you
  Why has the Bank of England increased interest rates? It was the only option leftThe Bank of England could no longer bottle it over an interest rate rise 5.59pm GMTThe slump in the pound as the Bank of England hinted any further rate rises were not imminent helped push the FTSE 100 just shy of a
  
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• This RSS feed URL is deprecated

  02-11-2017 18:58
  This RSS feed URL is deprecated, please update.New URLs can be found in the footers at https://news.google.com/news
  
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• Number of EU nurses registering to work in UK plummets - Financial Post

  02-11-2017 18:55
  Number of EU nurses registering to work in UK plummets
  Financial Post
  LONDON — The number of European Union nurses and midwives registering to work in Britain fell by almost 90 per cent in the 12 months to September, according to the first full-year figures since the U.K. voted to leave the bloc. The Nursing and ...en meer »
  
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• Treasury Reveals UK Financial Sector Priorities For 2018 - Law360

  02-11-2017 18:29
  Treasury Reveals UK Financial Sector Priorities For 2018
  Law360
  Law360, London (November 2, 2017, 5:08 PM GMT) -- The U.K. will step up efforts to seek out new trading relationships across the globe in 2018 as the country prepares for Brexit, the Treasury's body for promoting the country's financial services said ...
  
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• BREXIT BOMBSHELL: What happens to £20 TRILLION held in British banks if EU laws fail?

  02-11-2017 17:55 via feedproxy.google.com
  BANK of England chiefs have warned up £20 TRILLION held by UK banks hangs in balance because EU bosses refuse to negotiate.
  
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• How bots are helping businesses to engage with customers

  02-11-2017 17:30 via theguardian.com
  From Disney to CNN, some of the world’s leading brands use Facebook Messenger to personalise their service. But it’s also a powerful tool for startups and SMEs looking to drive salesAfter enduring the heartache of splitting from her long-time beau, Kermit the Frog, in 2015, Miss Piggy was never going to retire solemnly into the shadows.Instead, the self-proclaimed diva soon found herself in Disney’s employ, dishing out lively dating advice – with the odd word of French th
  
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• London falling? UK house price growth to halve with capital worst hit

  02-11-2017 16:45
  Decades-long trend to be reversed as Savills predicts homes in north-west and north-east to rise at twice the London rate in next five yearsLondon house price growth is forecast to lag well behind other regions over the next five years, reversing a trend stretching back decades, according to a new report.Savills, the upmarket estate agent, is predicting that average house prices in the capital will fall 1.5% this year and 2% in 2018, and be flat in 2019, before returning to growth. Continue read
  
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• Interest rates rise: Pensions and savers joy - banks saving rates LISTED

  02-11-2017 15:55 via feedproxy.google.com
  PENSIONERS and savers have welcomed the Bank of England’s decision to increase interest rates for the first time in a decade.
  
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• Mortgage rates HIKED by High st banks within minutes of Bank of England interest rate rise

  02-11-2017 15:25 via feedproxy.google.com
  HIGH street lenders have reacted almost instantly to the Bank of England's interest rate rise by hiking variable mortgages.
  
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• Why has the Bank of England increased interest rates? It ran out of options | Michael Jacobs

  02-11-2017 14:49 via theguardian.com
  The Bank has done everything to keep the failing economy moving. But this rise shows the problem lies with the government’s continued fiscal austerity• Michael Jacobs is director of the Institute for Public Policy Research’s commission on economic justiceThe 0.25% rate rise announced this morning is not a normal interest rate rise. But that is because we are living through abnormal economic times.Usually the Bank of England would raise interest rates when the economy was beginni
  
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• Telit in contact with UK Financial Conduct Authority, says no formal ... - Telecompaper

  02-11-2017 14:34
  Telit in contact with UK Financial Conduct Authority, says no formal ...
  Telecompaper
  Telit Communications said it is not under investigation by the UK's Financial Conduct Authority, but has been in contact with the regulator. The statement follows ...en meer »
  
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• Telit in contact with UK Financial Conduct Authority, says no formal probe - Telecompaper

  02-11-2017 14:34
  Telit in contact with UK Financial Conduct Authority, says no formal probe
  Telecompaper
  Telit Communications said it is not under investigation by the UK's Financial Conduct Authority, but has been in contact with the regulator. The statement follows press reports that the FCA is conducting an investigation into the company. Telit wrote ...en meer »
  
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• UK interest rates raised for first time in a decade - business live

  02-11-2017 14:14 via theguardian.com
  Rolling coverage of the Bank of England’s eagerly awaited decision on interest ratesLatest: Governor Mark Carney is holding a press conference nowBREAKING: First hike in UK interest rates since July 2007
  The pound is falling....BoE: Brexit vote is hurting the economyEarlier:Protests outside the Bank
  Economist: Rate rise would hurt familiesWhat does it mean for mortgages 1.12pm GMTQ: How high will interest rates rise before the Bank of England starts to unwind its bond-buying stimulus schem
  
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• Firm behind Sun Bingo and thousands of FOBTs issues profit warning

  02-11-2017 14:13 via theguardian.com
  Falling income across Asia and glitches with its bingo account prompt 20% fall in shares for PlaytechShares in Playtech, the company behind the software powering thousands of fixed-odds betting terminals and Sun Bingo, have fallen 20% after it issued a profit warning.The company said it expects to miss profit forecasts, blaming problems including a setback with its contract to provide software for Sun Bingo, a gambling website owned by Rupert Murdoch’s News UK. Continue reading...
  
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• UK Financial Watchdog Denies Government Pressure Over Saudi Aramco IPO - Newsmax

  02-11-2017 14:01
  UK Financial Watchdog Denies Government Pressure Over Saudi Aramco IPO
  Newsmax
  The head of Britain's financial watchdog has rejected suggestions its proposed changes to listing rules for sovereign-controlled companies were influenced by the government to try to persuade oil giant Saudi Aramco to list in London. Saudi Arabia is ...
  
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• Lloyds and Halifax overdraft customers to pay smaller fees – but not all

  02-11-2017 13:45 via theguardian.com
  Shake-up announced by Lloyds Group will benefit many customers, but charges are still ‘way out of line’Many Lloyds Bank and Halifax customers will see their overdraft costs shrink week – but some will pay more.A shake-up of fees announced by Lloyds Banking Group in July took effect on 2 November. Lloyds, Halifax and Bank of Scotland have scrapped existing charges with a new flat fee of 1p a day for every £7 that someone borrows over their fee-free limit. The new fee is ch
  
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• Bank of England blames BREXIT: Carney raises interest rates and says UK exit is at fault

  02-11-2017 13:37 via feedproxy.google.com
  THE BANK of England has blamed Brexit after interest rates were hiked to 0.5 per cent in the first increae in over a decade.
  
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• The Bank of England could no longer bottle it over an interest rate rise | Larry Elliott

  02-11-2017 13:36 via theguardian.com
  Inflation at 3% is not too convincing an argument to raise rates. More important is that the BoE’s credibility was on the lineIt’s been a long, long time coming. The last time the Bank of England raised interest rates in July 2007, Sir Mervyn King was in charge at Threadneedle Street, Barack Obama had only recently said he would run to be US president and Gordon Brown had finally replaced Tony Blair as prime minister.
  Official borrowing costs are now back to where they were between e
  
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• Bank of England raises UK interest rates for first time in over a decade

  02-11-2017 13:22 via theguardian.com
  Threadneedle Street increases cost of borrowing from 0.25% to 0.5%, reversing emergency action after Brexit voteLive coverage and reaction to the interest rate riseThe Bank of England has announced the first increase in interest rates for a decade in an attempt to protect British households from the spiralling cost of living since the Brexit vote.Threadneedle Street increased the cost of borrowing from 0.25% to 0.5% in a widely expected move to reverse the emergency action it took in the wake of
  
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• Interest rate RISE announced by Bank of England - first in 10 YEARS

  02-11-2017 13:01 via feedproxy.google.com
  BANK of England is increasing interest rates for the first time in 10 years, it has announced.
  
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• What the interest rate rise will mean for you

  02-11-2017 13:00 via theguardian.com
  The Bank of England has increased its base rate after a decade – here’s how it will affect homeowners and saversThe 0.25% rise in Bank of England base rate to 0.5% may be small, but it marks the first rise in borrowing costs for a decade. Many mortgages will rise in cost, but savers will be looking forwards to better returns. Continue reading...
  
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• 'We have a £450,000 mortgage – but we're relaxed about the interest rate rise'

  02-11-2017 13:00 via theguardian.com
  A couple who bought a two-bed flat this year say they have few immediate concerns thanks to their fixed-rate dealThe size of mortgage taken out by first-time buyers Kieran Ellis, 32, and Jordan Stefanov, 29, will send shudders through many people. The couple borrowed about £450,000 in June to buy a £490,000 two-bed flat in Crystal Palace, south London – but they are relatively relaxed about the rise in interest rates.A 0.25% rise in rates adds £54 to the monthly payments
  
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• Mayweather-McGregor fight lifts Paddy Power Betfair

  02-11-2017 12:38 via feedproxy.google.com
  PADDY POWER BETFAIR has reported rising third-quarter sales and earnings as the group was helped by punters betting big on the Mayweather-McGregor fight.
  
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• INTEREST RATE RISE won’t hurt homeowners, but could DAMAGE UK ECONOMY

  02-11-2017 12:13 via feedproxy.google.com
  BRITISH homeowners will be less affected by today's 0.5% interest rate rise than in the past, however the hike could risk denting economic growth, argue industry experts.
  
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• Next warns of 'volatile' trading head of key Christmas season

  02-11-2017 11:58 via feedproxy.google.com
  RETAIL giant Next has warned of "extremely volatile" trading ahead of the crucial Christmas season as online sales continue to offset tough conditions on the high street.
  
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• Bitcoin price: Bitcoin smashes through $7,000 for the first time - will bubble burst?

  02-11-2017 11:36 via feedproxy.google.com
  BITCOIN has surged this week and smashed through $7,000 for the first time in its history
  
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• Location versus size: househunters discuss the compromises they've made

  02-11-2017 11:05
  Trade-offs will always be part of a property search, but that doesn’t mean you won’t find happiness in your new homeWhen Arabel Lebrusan’s husband found a new job in Derby, his two-and-a-half-hour commute home to London quickly took its toll. “It was a really hard commute,” she says. “He would spend a couple of nights in Derby, and then come back on a Wednesday and go back again. It wasn’t very sustainable. In the end, we decided to move halfway.”
  
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• Alex Salmond joins bid to take control of anti-independence paper the Scotsman

  02-11-2017 10:21 via theguardian.com
  Ex-first minister aims to make title more ‘pro-Scotland’ as part of bid for Johnston Press, which also owns Yorkshire PostFormer Scottish first minister Alex Salmond has joined an activist investor seeking to oust the board and chief executive of Johnston Press, owner of titles including the Scotsman and national newspaper i.Salmond, who lost his Gordon seat in the last general election, has teamed up with Christen Ager-Hanssen, the struggling newspaper publisher’s largest inve
  
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• Alex Salmond bids to become chair of anti-independence paper the Scotsman

  02-11-2017 10:08 via theguardian.com
  Ex-first minister aims to make title more ‘pro-Scotland’ as part of bid for Johnston Press, which also owns Yorkshire PostFormer Scottish first minister Alex Salmond has joined an activist investor seeking to oust the board and chief executive of Johnston Press, owner of titles including the Scotsman and national newspaper i.Salmond, who lost his Gordon seat in the last general election, has teamed up with Christen Ager-Hanssen, the struggling newspaper publisher’s largest inve
  
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• Bank of England interest rate decision grips the City - business live

  02-11-2017 10:05 via theguardian.com
  Rolling coverage of the Bank of England’s eagerly awaited decision on interest rates at noon todayIntroduction: Will the Bank of England raise interest rates today?Most City economists expect a hike today......but some fear it would be a mistakeEconomist: Rate rise would hurt familiesPreview: Interest rate rise looms at last after decade of rock-bottom rates 9.05am GMTBloomberg’s Peter Hoskins points out that UK borrowing costs have been at historically low levels for the last decade
  
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• London could lose 75.000 financial services jobs by 2019, when UK leaves the EU - MercoPress

  02-11-2017 10:00
  London could lose 75.000 financial services jobs by 2019, when UK leaves the EU
  MercoPress
  The BBC said the BoE - which is reviewing banks' contingency plans - thought as many as 75,000 jobs would be affected. BoE Deputy Governor Sam Woods told Reuters that a figure of 10,000 job losses in a Reuters survey of banks' plans was a reasonable ...
  
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• Brexit could cost UK 'up to 75000 financial jobs' - Belfast Telegraph

  02-11-2017 08:51
  Belfast Telegraph
  Brexit could cost UK 'up to 75000 financial jobs'
  Belfast Telegraph
  A Bank of England official has said Britain's powerhouse financial services sector could shed 10,000 jobs on day one of Brexit and it was “plausible” the losses may reach 75,000. Sam Woods, head of the Bank's Prudential Regulation Authority (PRA), said ...
  BOE warns that UK financial sector could lose 75000 jobs after BrexitForexLive
  BoE predicts Brexit to hit 75000 UK financial services industry j
  
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• Interest rate rise looms at last after decade of rock-bottom rates

  02-11-2017 07:00 via theguardian.com
  Increase from 0.25% to 0.5% looks imminent in wake of latest good news from Britain’s manufacturing sectorThe Bank of England is on track to raise interest rates for the first time in more than a decade on Thursday after data from manufacturers strengthened the case for an increase. The industrial sector is reporting that it remains in rude health as companies benefited from strong sales in the UK last month and new export business driven by the weak pound. Combined with high inflation and
  
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• New Zealand launches biggest ever drive to attract Brexit Britain's builders

  02-11-2017 06:29 via theguardian.com
  More than $100bn of infrastructure works are planned but country doesn’t have enough local workers to fill the gapNew Zealand has launched a campaign to lure thousands of UK construction workers away from their wintry building sites to deliver the country’s biggest ever infrastructure and housing program.An estimated 65,000 new construction workers will be needed over the next five years to meet demand, forcing the industry to work with the government to create what is the largest ev
  
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• UK defence minister Michael Fallon resigns in growing harassment scandal - Financial Express

  02-11-2017 05:48
  Financial Express
  UK defence minister Michael Fallon resigns in growing harassment scandal
  Financial Express
  British defence minister Michael Fallon quit on Wednesday saying his conduct had fallen below the high standards demanded of his position, the first resignation in a sexual harassment scandal in parliament. By: Reuters | London | Published: November 2, ...en meer »
  
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• China may bankroll Adani's Carmichael mine, statements show

  02-11-2017 03:56 via theguardian.com
  Move raises suggestions that any Australian government loan to Adani could effectively be subsidising the Chinese government Adani’s proposed Carmichael coalmine may end up being bankrolled by the Chinese-state-owned enterprise China Machinery Engineering Corporation (CMEC), according to public statements.The statements raise questions about the role of any potential Australian government loan through the Northern Australian Infrastructure Facility (Naif) or Efic, since it could, in effect
  
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• Child poverty in Britain 'set to soar to new record'

  02-11-2017 01:01 via theguardian.com
  IFS forecast that 37% of children will be in relative poverty by 2022 would see all progress made in the last 20 years undoneThe number of children living in poverty will soar to a record 5.2 million over the next five years as government welfare cuts bite deepest on households with young families, a leading UK thinktank has said.New research from the Institute for Fiscal Studies predicts an increase of more than a million in the number of children living in poverty, more than reversing all the
  
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• Barclay brothers lose £1.25 billion battle with taxman

  02-11-2017 01:01 via feedproxy.google.com
  THE billionaire Barclay brothers have lost a decades-long battle with HMRC after the Supreme Court ruled that the taxman does not owe them £1.25 billion.
  
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• Women will wait 217 years for pay gap to close, WEF says

  02-11-2017 00:01 via theguardian.com
  Gender parity ‘shifting into reverse’ as World Economic Forum adds 47 years to time needed to reach workplace equalityWomen around the globe may have to wait more than two centuries to achieve equality in the workplace, according to new research.The World Economic Forum, best known for its annual gathering in the Swiss resort of Davos, said it would take 217 years for disparities in the pay and employment opportunities of men and women to end. This is significantly longer than the 17
  
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• UK Probes Whether Financial Backer of Brexit Campaign Breached Rules - Wall Street Journal

  02-11-2017 00:01
  Wall Street Journal
  UK Probes Whether Financial Backer of Brexit Campaign Breached Rules
  Wall Street Journal
  LONDON—Britain's electoral watchdog said it was investigating whether one of the key financial backers of the campaign to take the U.K. out of the European Union breached campaign-finance rules ahead of last year's referendum. The Electoral Commission ...en meer »
  
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