Financial news

• Squeeze on UK wages set to continue until 2022, thinktank warns

  13-11-2017 20:53
  Average pay packet will be more than £20 lower than when financial crisis started in 2007, the Resolution Foundation report saysThe average pay packet in Britain in five years’ time will still be more than £20 lower than it was before the start of the financial crisis as the biggest squeeze on wages since the end of the Napoleonic Wars extends well into a second decade, a leading thinktank has warned.The Resolution Foundation said that the downgrade to Britain’s future pr
  
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• Channel 4 in European TV ad alliance to take on Google and Facebook

  13-11-2017 20:53 via theguardian.com
  Deal will allow advertisers to run campaigns on video-on-demand that could potentially reach up to 160 million viewersChannel 4 has joined an alliance of Europe’s biggest broadcasters to run commercials across their video-on-demand (VOD) services, in a move to combat Google and Facebook’s dominance of online advertising.Channel 4, which offers shows including Great British Bake Off, Gogglebox, Humans and Hunted via All4, will be the exclusive UK partner in the alliance, the European
  
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• Taylor Wimpey: most buyers in ground rent scandal will be able to get new deals

  13-11-2017 20:51
  Housebuilder says demand for housing still high, supported by government’s help-to-buy scheme The “substantial majority” of Taylor Wimpey homebuyers caught in the ground rents scandal will be able to switch to less onerous leasehold contracts, the housebuilder has said after it set aside £130m to convert the controversial leases.In an upbeat trading statement that contrasted with a more pessimistic report by its rival Persimmon last week, Taylor Wimpey said sales per outl
  
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• PFI firms are arming themselves for a Jeremy Corbyn government | Nils Pratley

  13-11-2017 20:15 via theguardian.com
  Labour should be ready for a fierce legal battle over nationalisation if the party makes it into powerThe business world is making preparations for Jeremy Corbyn’s arrival in Downing Street. Exhibit A was the friendly reception the Labour leader received after his speech to the CBI conference last week. Exhibit B is the unfriendly summoning of legal arguments by companies that fear they could be losers under Labour’s nationalisation policies.Take John Laing Infrastructure Fund (JLIF)
  
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• Pro-Brexit British billionaire buys Swiss football club Lausanne

  13-11-2017 18:35 via theguardian.com
  Jim Ratcliffe, founder of chemicals and fracking giant Ineos, recently tried to get government subsidies to build successor to Land Rover DefenderIneos, the petrochemicals company founded by billionaire Brexit backer Jim Ratcliffe, has announced plans to buy a Swiss football club, the latest in a spree of seemingly unconnected acquisitions.The privately owned firm said it was buying FC Lausanne-Sport, which plays in Switzerland’s top football league, to build on existing links it had forge
  
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• Threats to boycott Tesco after Muslim family features in Christmas ad

  13-11-2017 16:24 via theguardian.com
  Social media users react badly to TV campaign, with some suggesting the supermarket chain has ‘erased’ ChristmasTesco is facing a social media backlash after launching a video asking customers what they enjoyed eating at Christmas.Asking “Turkey? Sauerkraut? Pie? Which food makes your Christmas dinner?”, the 16-second clip features customers describing their favourite festive foods. Continue reading...
  
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• Yes, Uber has lost its ludicrous appeal. But will its drivers get their rights? | Jason Moyer-Lee

  13-11-2017 14:33 via theguardian.com
  Friday’s appeal decision sends a clear message: employment rights abuses in the gig economy will only stop if the existing law is respected and properly enforced• Jason Moyer-Lee is general secretary of the Independent Workers’ Union of Great BritainNo company better epitomises the so-called “gig economy” than minicab firm Uber. All the key ingredients are there: the company uses an app, the drivers work flexibly – indeed, they can turn the app on and off at wi
  
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• Energy suppliers are a rip-off, no matter where you go

  13-11-2017 14:25
  I was convinced to switch companies, but I was a fool to think I would get a fairly priced product anywhere from anyoneI am at home minding my own business when a snazzily dressed young man and woman knock at my door. They can help me change energy suppliers and save me hundreds of pounds a year. Oh, good. But can I trust them? The world is stuffed with crooks and scoundrels. Helpfully, they are laden with identification badges, cards and documents, so I go for it.Why not? We are often nagged to
  
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• Where is best to keep our house deposit money?

  13-11-2017 13:30
  We might need it at short notice but want the best return possibleQ We have just accepted an offer on our house from a cash buyer and plan to move into rental accommodation until we find a house of our own to buy, hopefully once the market picks up again in the spring.We hope to have a cash lump sum of around £160,000 after paying off our mortgage. This will form a deposit for the purchase, but may sit for several months until we need it. Do you have any advice for how we can get the best
  
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• More than third of UK home sellers cut asking price, says Rightmove

  13-11-2017 08:00
  Property website says new sellers being too optimistic by not discounting by more as overall market stalls and interest rates riseMore than a third of home owners trying to sell their house have been forced to reduce their asking price, with the number of price cuts at their highest level since 2012, according to Rightmove.Traditionally house sellers are often forced to cut asking prices in the pre-Christmas period but this year the nation appears to be holding a collective autumn sale, said the
  
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• In the frame … the real cost of making an insurance claim

  13-11-2017 08:00
  I claimed £123 from LV= for broken spectacles but my premium has gone up by £71I am in dispute with LV= over the renewal of my home insurance which has gone up from of £160 to £231. When I queried this by phone I was told it was mostly due to a claim I had made a month earlier – the first in five years. That was for a broken spectacles frame with a replacement cost of £123. I only received £73 after the £50 excess was deducted, which is almost the
  
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• Brutal London: the capital's housing crisis – in pictures

  13-11-2017 08:00
  In London, there is a shortage of affordable homes while more and more properties are being left empty in the wealthier neighbourhoods. For her work Brutal London, photographer Alessia Gammarota looks at the connections between different aspects of the housing crisis, from squatting and council estates to new developments changing the landscape and the city’s soul Continue reading...
  
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