Financial news

• 'We're at a CRITICAL MOMENT' Brexit fears mount for world's leading banks, warns City

  12-11-2017 20:06 via feedproxy.google.com
  THE world's biggest banks believe a "disorderly Brexit" is almost inevitable, the City of London Corporation has warned.
  
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• Bet365 chief Denise Coates paid herself £217m last year

  12-11-2017 18:42 via theguardian.com
  Founder of online bookmaker becomes UK’s highest paid boss as concern rises about number of lives ruined by gambling addictionDenise Coates, the billionaire founder and boss of gambling firm Bet365, paid herself £217m last year as her company made a £525m profit from a record £47bn of bets.
  The 50-year-old, who started Bet365 in a Portakabin in a Stoke car park 17 years ago, is now the best-paid boss in Britain, dwarfing previous titleholder ad man Sir Martin Sorrell on &
  
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• Government water market reforms could take up to FIVE YEARS to work properly

  12-11-2017 18:19 via feedproxy.google.com
  GOVERNMENT reforms designed to open up the water market and encourage businesses to switch providers are falling flat and will take up to five years to start working properly, experts warn.
  
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• London Stock Exchange chairman Donald Brydon finds himself at risk, says GEOFF HO

  12-11-2017 15:45 via feedproxy.google.com
  LONDON Stock Exchange chairman Donald Brydon has a reputation for axing chief executives at his companies but he now finds himself at risk, thanks to a row with pugnacious hedge fund boss Chris Hohn.
  
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• Co-op takeover of Nisa faces resistance before crunch shareholder vote

  12-11-2017 14:47 via theguardian.com
  Convenience chain says there is growing support for offer but others cast doubt on it achieving required proportion of votesThe Co-op’s £143m takeover of convenience chain Nisa is to go to the wire after a series of stormy shareholder meetings before a vote on Monday.Nisa said the feedback from recent shareholder meetings suggested growing support for the Co-op offer but other people familiar with the process expressed concern that it would not secure the 75% share of votes required
  
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• The new American Apparel: claims of 'ethically made' abroad clash with reality

  12-11-2017 13:00 via theguardian.com
  The company was sold to Gildan and moved operations outside the US – now the idea the brand was based upon clashes with what workers actually experienceUnder a page headlined “Sweatshop Free Stories” on American Apparel’s website is a video profile of a young Honduran man, Heber Lopez, a garment worker at one of the factories in San Antonio, Honduras responsible for producing the retailer’s clothing.Related: American Apparel founder Dov Charney: ‘Sleeping with
  
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• Couple win refund after fight over 'unfair' boiler servicing charges

  12-11-2017 13:00 via feedproxy.google.com
  A COUPLE suffered a serious bout of the boiler blues when the home maintenance cover they had taken out was actually put to the test.
  
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• In Second Gilded Age, Trump shows no sign of taking on rigged system

  12-11-2017 12:46 via theguardian.com
  More 70 years ago progressive policies reined in the robber barons, but today’s superrich face no foe in the White HouseAmerica’s role as the world’s economic superpower was established in the period between 1870 and the start of the first world war. The country boomed, immigrants arrived in their millions and the rich coined it in. Even now the names are familiar: John D Rockefeller; Andrew Carnegie; the Vanderbilt family. They called it the Gilded Age.
  Never before had Americ
  
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• Energy price caps and big mergers will only serve to shore up the ‘big six’

  12-11-2017 11:42 via theguardian.com
  In 2019, standard variable rates could be capped and Npower and SSE might be one company. Yet, even then, the customer may not see much benefitWill early 2019 be remembered as the beginning of the end for competition in the UK energy market? That is likely to be the time when Theresa May’s price cap on energy bills takes effect and two titans of the market complete the merger they proposed last week.The new company to be created by Npower and SSE means the so-called “big six” e
  
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• Para-badminton athlete’s £5,000 sports wheelchair trashed after BA flight

  12-11-2017 08:00 via theguardian.com
  Trip to Finland for training was wasted and airline has ignored complaintCan you help me as I am desperate. I am an international para-badminton wheelchair athlete for England who flew on British Airways to Finland in August to attend a training camp.I was looking forward to training and learning to improve my career with other top players, and travelled with my specially designed sports wheelchair, and my manual one.Continue reading...
  
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• Online retailers pass the parcel as couriers fail to deliver the goods

  12-11-2017 07:59 via theguardian.com
  Complaints have risen 48% as firms pop up to deal with the surge in online shopping. But the problem is we want it cheapBen Thomas (not his real name) was startled to learn that the £262 robot vacuum cleaner he’d ordered online from Gearbest had been successfully delivered. There was no sign of it at his London address and no card put through his letter box. He contacted the delivery firm, Yodel, and discovered that the package had been signed for, but not by him.“A customer se
  
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• Chinese shoppers spend a record $25bn in Singles Day splurge

  12-11-2017 03:12 via theguardian.com
  The annual event for lonely hearts is now four times bigger than Black Friday and Cyber Monday, the biggest shopping day in the US calendarShoppers have spent more than $25bn (168.2bn yuan) during China’s annual Singles Day, smashing previous records for the world’s largest retail event.
  Single’s Day, promoted annually by Chinese e-commerce giant Alibaba and held on 11 November, was supposedly started by bachelor university students in the 1990s who bought themselves presents a
  
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• Revealed: how Vodafone allowed elites to reap profits of Africa’s mobile boom

  12-11-2017 01:05 via theguardian.com
  Investigation for the Observer shows how deals done by the UK telecoms giant benefited politically connected elites in eastern AfricaThe spread of mobile phones across Africa has been one of the continent’s success stories over the past two decades, transforming lives through better communication and simpler banking. It has also resulted in huge profits for powerful international companies – and for some of Africa’s wealthiest and best-connected individuals.But an investigation
  
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• A new battle for Hastings and beyond: to save our museums

  12-11-2017 01:05 via theguardian.com
  More than 40% of regional venues forced to cut opening hours due to budgetsThe legacy of 1066 and all that means that Hastings will forever be identified with the pivotal battle between Normans and Anglo-Saxons. Yet the East Sussex seaside town now faces a fight to preserve access to the study of its role in English history.Two years ago the Old Town Hall Museum of Local History, one of two museums run by the borough council, closed down for good. The remaining Hastings Museum and Art Gallery wa
  
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• The interest rate hike won't let you save until the big banks stop dragging their feet

  12-11-2017 01:01 via feedproxy.google.com
  THE FIRST interest rate hike in a decade was heralded as a step forward for savers, but the big banks have spoiled it with a co-ordinated display of foot dragging.
  
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• Monarch Airlines creditors will get back little of what they are owed - KPMG report

  12-11-2017 01:01 via feedproxy.google.com
  CREDITORS of Monarch Airlines will get back little of what they are owed, according to the first report being prepared by administrators KPMG.
  
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• British businesses eye up USA to cover Brexit shortfall as interest DOUBLES in 12 months

  12-11-2017 01:01 via feedproxy.google.com
  THE number of British firms that are seeking to do business in the US has doubled over the last 12 months because of Brexit, according to a Government trade adviser.
  
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