Financial news

• Chicken safety scandal: 2 Sisters factory to resume production

  03-11-2017 19:57 via theguardian.com
  M&S, Tesco and Aldi to resume taking supplies from food plant in West Bromwich which was shut down following a Guardian/ITV investigationThe scandal-ridden 2 Sisters Food Group chicken factory in West Bromwich is to resume production next week after “significant changes” at the plant and the introduction of full-time Food Standards Agency (FSA) officials to oversee its procedures.The move comes after the country’s largest supplier of supermarket chicken temporarily shut the
  
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• Risky tumble dryers putting profit before people | Letters

  03-11-2017 19:51 via theguardian.com
  Why are hundreds of thousands of tumble dryers which pose a fire risk still in people’s homes, asks Steve Tombs How can it be the case that “An estimated 1m ‘faulty’ tumble dryers at risk of bursting into flames are still in UK homes” (Report, 1 November)? Two years ago, in November 2015, Whirlpool finally admitted that there were some 3.8m potentially faulty tumble dryers across the UK – prone to catching fire. Their response? Something along the lines of &ld
  
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• FTSE 100 reaches record high as UK services sector rebounds

  03-11-2017 19:24 via theguardian.com
  Flurry of orders appears to bolster Bank of England decision to raise interest rates, pushing stock market index to new record highShares in Britain’s top 100 companies reached an all-time high on Friday, after buoyant sales across the services sector last month showed the economy remained resilient following the post-Brexit vote slump.A flurry of orders that appeared to bolster the Bank of England move to raise interest rates this week, helped send the FTSE 100 index to 7,560, beating the
  
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• US jobs rebound strongly in October, while FTSE 100 reaches new record close - as it happened

  03-11-2017 19:07 via theguardian.com
  America’s closely watched non-farm payrolls report shows a 261,000 jobs rise in October after hurricanes triggered a sharp fall in SeptemberBank of England’s Broadbent admits rate hike will inflict pain
  First rate rise in a decade adds to UK mortgage burden
  Q&A: What the interest rate rise will mean for youUK services sector growth accelerates, but job creation slows 6.07pm GMTThe FTSE 100 may have hit a closing high after a day of dithering, but it was a more mixed picture elsew
  
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• 'No deal' Brexit could add £930 a year to UK shopping bills, say experts

  03-11-2017 19:00 via theguardian.com
  Poorer families and unemployed will be especially badly hit, says thinktank report calculating cost of walking away from EU without trade dealHouseholds face increases of up to £930 in their annual shopping bills if Britain walks away from Brexit talks without a trade deal, according to new research that reveals a disproportionate impact on poorer families and the unemployed.
  Meat, vegetables, dairy products, clothing and footwear would be subject to the largest consumer price rises under
  
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• Save three times your salary before you’re 40 to retire? That’s absurd advice | Merryn Somerset Webb

  03-11-2017 18:28 via theguardian.com
  Financial advisers may wheel out these statistics, but in today’s precarious times what’s needed is sensible saving and government helpHow much should you be saving – and have banked already – for your retirement? Listen to the financial industry, and the answer is an awful lot more than you probably have.According to Jean Chatzky, a financial journalist at US network NBC, by the time you are 30 you should have at least the equivalent of your annual income saved for retir
  
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• UK financial services firms make LinkedIn's top start-ups list - London School of Business and Finance (blog)

  03-11-2017 18:27
  London School of Business and Finance (blog)
  UK financial services firms make LinkedIn's top start-ups list
  London School of Business and Finance (blog)
  Several UK banks and financial services firms have made it onto 'LinkedIn's Top 25 Companies – Startups' list. The companies were selected from nearly 25,000 venture-backed companies. Nearly a third of the list was made up of financial technology ...
  
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• Man found living in 'coffin-like' cupboard in east London

  03-11-2017 18:05
  Inspectors believe man was paying £250 a month to rent space under stairs with no ventilation and room for only a mattressHousing inspectors discovered a man living in “coffin-like” conditions in a gas-meter cupboard beneath the staircase of an overcrowded property in east London, during a series of raids on poor-quality housing in the area.Council staff found a young man asleep on a mattress inside the cupboard, in a space they described as less than one metre by two metres. I
  
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• Will bitcoin crash? Could the bitcoin bubble burst? Experts weigh in on bitcoin's future

  03-11-2017 17:33 via feedproxy.google.com
  THE BITCOIN boom is good news for investors, but some experts are warning that there could be signs that the bubble is about to burst. Is bitcoin about to crash?
  
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• Let’s move to Windsor & Eton, Berkshire: ‘A metaphor for the nation’

  03-11-2017 17:30 via theguardian.com
  Even the millionaires lining the Thames and the 1% at Eton know their place beneath the royals at the castleWhat’s going for it? At Let’s move to... we like to press our faces up against the window, peer into the sweet shop and see ’ow the ovver ’arf lives. It’s a strange kind of masochism. Windsor, Eton and, a few hundred metres away (divided from the others by the M4), Slough are today almost a geographical metaphor for the nation. The royalty (Windsor), the
  
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• Five-year fixed rate mortgage rates to increase as banks ditch cheap deals

  03-11-2017 17:22 via feedproxy.google.com
  FIVE-year mortgage rates are predicted to rise by 0.5 per cent during the next six months as mortgage lenders withdraw their best rates.
  
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• Bitcoin price LIVE: Bitcoin smashes through $7,400 amid worries bitcoin bubble will burst

  03-11-2017 17:13 via feedproxy.google.com
  BITCOIN prices hit a new high of $7,400 today, sparking fears that the cryptocurrency could crash. Here is the latest bitcoin news and live price updates.
  
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• Leadership poll: elite consultancy McKinsey elects a new chief

  03-11-2017 16:49 via theguardian.com
  Management consultancy, currently embroiled in the South Africa scandal, is voting for a new boss to rub shoulders with the global leadersBehind the closed doors of five-star hotels and Michelin-starred restaurants, campaigning has begun in one of the world’s most secretive elections.
  Candidates are not allowed to officially campaign, are prevented from submitting a manifesto and nearly all of the voters earn at least $1m a year. Welcome to the race to become the next managing partner of M
  
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• UK firms pull multibillion-pound floats in latest sign of stock market jitters

  03-11-2017 16:21 via theguardian.com
  Moves by mobile mast owner Arqiva and M&S supplier Bakkavör raise fears over London’s position as a financial centreTV and mobile mast owner Arqiva and Bakkavör, one of the biggest providers of ready meals to British supermarkets, have both pulled plans to float on the London stock exchange citing concerns over the volatility of the market.Arqiva – which just last week announced plans for a £6bn flotation, in what would have been the UK’s largest stock marke
  
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• High stakes battle on the high street: Newham's fight against FOBTs

  03-11-2017 15:12 via theguardian.com
  Mayor of east London borough leads push for £2 maximum bet, arguing that betting terminals wreak havoc in poorer areas“I see them come up and down, betting shop to bank machine, back and forth. They walk past me like I’m a ghost,” says Kelly, a young homeless woman sitting on the pavement between Lloyds Bank and Betfred in Newham, east London.She prefers to spend what little change she collects from passers-by on a bed for the night and doesn’t see the appeal of gam
  
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• US Fed chair's biggest problem will be staying out of Trump's shadow | Kenneth Rogoff

  03-11-2017 14:06 via theguardian.com
  Jerome Powell is a sane and sober choice to succeed Janet Yellen – but he must uphold the Federal Reserve’s independenceWith the appointment of Jerome Powell as the next chair of the United States Federal Reserve, Donald Trump has made perhaps the most important single decision of his presidency. It is a sane and sober choice that heralds short-term continuity in Fed interest rate policy, and perhaps a simpler and cleaner approach to regulatory policy.Although Powell is not a PhD eco
  
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• Generation rent: why I’ll never live in a microapartment

  03-11-2017 14:00
  Owning a London studio is a fantasy, but that won’t stop me fawning over a microapartment“I’m a grown woman. I don’t have to justify how often I want to clean my sheets to anyone, do I?”“I’m sorry, other customers are waiting. Do you need a carrier bag?” Continue reading...
  
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• Scaling up: meet the UK businesses blazing the export trail

  03-11-2017 13:45 via theguardian.com
  UK business leaders who have successfully expanded their businesses into overseas markets share their experiencesEven as they are getting established in their home market, ambitious businesses often look for growth opportunities overseas. Scaling up in a foreign market has its risks, but with sound research and good planning, it can reap huge rewards. Continue reading...
  
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• ‘If you buy a ready-made lunch every day, you’re throwing away £1,288 a year’ | Phil Daoust

  03-11-2017 13:00
  Packing food for work isn’t as difficult as it might seem – and your wallet and your health will thank you for itLife is a series of choices, and we have a gift for making the wrong ones. Asked to choose between lift or stairs, we take the lift, even if we’re only going up one floor, even though we need the exercise. We take the bus for a couple of stops rather than walk for five minutes; turn on the heating rather than pull on a jumper. Time and again, we pick short-term ease
  
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• Bitcoin is NOT a currency: Financial chief hits out and says 'it’s a commodity'

  03-11-2017 11:36 via feedproxy.google.com
  BITCOIN should not be defined as a currency but as a commodity, a top advisor of a leading financial firm has claimed.
  
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• Seven months long, 1,800 out … epic strike mirrors US unions' fight to survive

  03-11-2017 11:00 via theguardian.com
  As US unions face existential threats, former Time Warner Cable employees are fighting a new contract that would slash health and pension benefitsOver the past seven months, Tanisha Smythe has spent her entire life savings, and most of her son’s. She’s on the verge of losing her apartment and is relying on food banks for meals.Smythe is one of 1,800 former Time Warner Cable employees who have been on strike in New York City since 28 March, over a contract dispute with Charter Communi
  
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• Seven apps that will make you more productive

  03-11-2017 11:00 via theguardian.com
  Your smartphone can often be a distraction, so here’s how to transform it into a business tool, to improve your focus and efficiencyThere just aren’t enough hours in the day. Luckily most of us have a smartphone, which means we have a secret weapon in the quest to make the most of the time we have. There’s a whole wealth of apps out there that can streamline your day by making everything you do more productive.We’ve found seven great productivity apps that every small bus
  
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• Stockwatch: A share to profit from UK financial distress | interactive ... - Interactive Investor

  03-11-2017 10:42
  Interactive Investor
  Stockwatch: A share to profit from UK financial distress | interactive ...
  Interactive Investor
  Its narrative and sound dividend yield mean this stock is unlikely to retreat, argues Edmond Jackson. It looks worth taking an initial position.en meer »
  
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• Pound v Euro: Pound rallies as UK service sector shows impressive growth

  03-11-2017 01:01 via feedproxy.google.com
  AFTER plummeting by around two cents against the euro on Thursday following the Bank of England’s latest rate decision, the pound is beginning to claw its way back up this morning on the back of some upbeat economic data.
  
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• KANO’s build-your-own computers put power back with the people

  03-11-2017 01:01 via feedproxy.google.com
  SENIORS getting down with the kids creating cool codes, rad games and pixel paintings – it’s a reality where age is no barrier and takes just a couple of steps to achieve, says rising tech star Kano.
  
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• GBP v USD: Exchange rate plummets to one-month low as BoE signals rate hike is one-off

  03-11-2017 01:01 via feedproxy.google.com
  THE pound nosedived against the US dollar yesterday as investors reacted to the Bank of England’s latest rate decision.
  
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