Financial news

• Deliveroo wins right not to give riders minimum wage or holiday pay

  14-11-2017 21:00 via theguardian.com
  Union accuses food delivery firm of ‘gaming the system’ as couriers are ruled to be self-employed rather than workersDeliveroo won the right not to give its couriers the minimum wage or holiday pay on Tuesday, dealing a blow to campaigners for workers’ rights in the gig economy.In a key legal ruling the Central Arbitration Committee, a body that resolves worker disputes, said the food delivery firm’s riders were self-employed contractors as they had the right to allocate
  
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• David Davis seeks to reassure City on transfer of workers after Brexit

  14-11-2017 20:21 via theguardian.com
  Brexit secretary says government hopes to strike deal with EU that would allow City firms to move staff in and out of UKGlobal banks should be able to continue to transfer workers between the UK and EU member states after Brexit, David Davis has told an audience of City workers.In an emollient private speech at the London headquarters of Swiss bank UBS on Tuesday, the Brexit secretary sought to reassure financial institutions that the government hopes to negotiate a deal with Brussels that would
  
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• Tesco's £3.7bn takeover of Booker given green light

  14-11-2017 19:32 via theguardian.com
  Competition watchdog rules deal to buy Premier, Londis and Budgens owner will not lead to higher prices or poorer serviceTesco’s £3.7bn takeover of cash-and-carry group Booker has been given the provisional go-ahead by the competition watchdog despite rivals warning the deal could drive them out of business.After spending six months poring over evidence from competitors and crunching numbers, the Competition and Markets Authority (CMA) has concluded the merger of Tesco and Booker &nd
  
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• 'Butter has gone up by 40%': readers on rising UK food prices

  14-11-2017 19:22 via theguardian.com
  As inflation sticks at a five-year high of 3%, readers share their experiences of how they are coping with the squeezeI shop at Lidl and Asda and consider myself a savvy shopper on a budget, as I’m on minimum wage. Butter has gone up by 40%, but is a little luxury I do not want to give up. Meat has increased so much that I rarely buy it and make do with very cheap chicken or pork shoulder – lamb and beef joints are out of the question, so I use minced beef and burgers from Lidl. I ha
  
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• Poor households hit hard as UK inflation sticks at five-year high - as it happened

  14-11-2017 19:06 via theguardian.com
  The pound’s weakness since the Brexit vote pushed consumer prices up by 3% in the last year, the joint-highest since early 2012Low-income households suffer mostBreaking: UK inflation sticks at five-year high of 3.0%
  How to protect yourself against inflationFood inflation has hit 4.1%Motor fuel and furniture prices dipped
  Chart: Why inflation is high 6.06pm GMTA stronger euro following positive eurozone growth figures helped undermine European markets, while Wall Street fell back on concern
  
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• UK government, financial industry need to work on social impact investing — report - Pensions & Investments

  14-11-2017 18:08
  Pensions & Investments
  UK government, financial industry need to work on social impact investing — report
  Pensions & Investments
  The U.K. government and the financial industry need to support and increase the number of social impact investment opportunities in the market, recommends a new independent review. The recommendation is one of five made in the review report, ...en meer »
  
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• Profits of Adani's Carmichael mine company tumble, leaving it in financial peril

  14-11-2017 18:00 via theguardian.com
  Owner of Carmichael project can’t walk away from mine without descending further into distress, says energy expert Profits of Adani Enterprises – the company in Adani Group’s complex structure that owns the proposed Carmichael coalmine – have collapsed almost 50% year-on-year, according to a half-yearly report released this week which does not mention the mine.The results further show the company is in financial distress, according to Tim Buckley from the Institute of Ene
  
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• Paris battles to cash in from Brexit: 'I think we can gain 10,000 jobs'

  14-11-2017 17:51 via theguardian.com
  In the first in a series on European cities seeking to profit from the UK’s exit from the EU, we hear how the French capital is tempting firms from LondonAmid the gleaming glass towers of Paris’s La Défense business district, cranes dot the skyline as drills clatter away on the building sites of future skyscrapers and acres of new office space. Marie-Célie Guillaume proudly walks the route of the guided tours she gives to companies drawing up Brexit contingency plans an
  
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• Britons 'face expensive Christmas dinner' as food price inflation soars

  14-11-2017 16:46
  Official figures show prices were up by 4.2% last month on 12 months earlier, the highest level in four yearsBig increases in the price of fish, fats and vegetables have driven food price inflation to the highest level in more than four years.New data from the Office for National Statistics (ONS) shows food prices last month were up by 4.2% on 12 months earlier, a sharp increase on the 0.6% that food inflation was running at just a year ago. The October increase is the highest since 2013 and pro
  
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• What are the perfect office hours for our body clocks?

  14-11-2017 15:54
  Two-thirds of people in Britain say they would prefer an earlier start and finish to the working day, but for many it might be better to opt for later hoursWhat time we start and finish work is a much more important issue than it used to be. Gone are the rigid days of working standard office hours, as eulogised in song by Dolly Parton. More of us are being given a choice of when we work, especially those who work from home. And later starting times in schools have been found to safeguard teenage
  
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• UK financial watchdog to oversee 'high-risk' binary options - Financial Times

  14-11-2017 15:52
  Casino News Daily
  UK financial watchdog to oversee 'high-risk' binary options
  Financial Times
  The UK's financial watchdog will regulate companies offering binary options from 2018 and warned investors about the “high-risk, speculative” nature of such trading products. Binary options trading is a form of high-stakes gambling on whether financial ...
  UK's Financial Conduct Authority Assumes Control over Binary Options ...Casino News Dailyalle 17 nieuwsartikelen »
  
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• The machine age is upon us. We must not let it grind society to pieces | Chuka Umunna

  14-11-2017 15:05
  What good is glittering technology if it robs us of jobs and rips communities apart? We need to work out how humans will prosper in a world of robotsWe need to talk about work. The new machine age will transform our understanding of it. Work is the way we contribute to society, part of a reciprocal social contract – the giving of our effort and our taking when in need – that holds our society together. We work, we build our society, and we share in its prosperity. Related: Why doesn'
  
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• Trump's tax breaks for the rich won't trickle down to help working Americans | Steven Greenhouse

  14-11-2017 14:37 via theguardian.com
  If the president is serious about creating good, middle-class jobs, spending on infrastructure would be far more effective than helping the already very comfortableIt’s time to drive a stake through the heart of President Trump’s and Republicans’ misleading assertion that their tax cuts are for the middle class and for workers. These tax cuts are overwhelmingly designed to help the rich, to further comfort the already very comfortable.If the tax plan were truly a plan for the m
  
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• Richest 1% own half the world's wealth, study finds

  14-11-2017 12:56 via theguardian.com
  Credit Suisse report highlights increasing gap between the super-rich and the remainder of the globe’s populationThe globe’s richest 1% own half the world’s wealth, according to a new report highlighting the growing gap between the super-rich and everyone else. The world’s richest people have seen their share of the globe’s total wealth increase from 42.5% at the height of the 2008 financial crisis to 50.1% in 2017, or $140tn (£106tn), according to Credit Suis
  
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• Poor households hit hard as UK inflation sticks at five-year high - business live

  14-11-2017 12:45
  The pound’s weakness since the Brexit vote pushed consumer prices up by 3% in the last year, the joint-highest since early 2012Latest: Low-income households suffer mostBreaking: UK inflation sticks at five-year high of 3.0%
  How to protect yourself against inflationFood inflation has hit 4.1%Motor fuel and furniture prices dipped
  Chart: Why inflation is high 11.32am GMTWith wages rising at little more than 2%, and inflation at 3%, Christmas will be a squeeze for many families.Hannah Maundre
  
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• Europcar charged me £468 because it didn't have the model I booked

  14-11-2017 12:09
  The firm was wilfully deceptive when it didn’t have an Opel Astra and offered me a Ford Focus insteadIn July, I booked a hire car with Europcar through arguscarhire.com and paid £458.88 upfront. The voucher which I was to present at the hire desk stated that I would be given an Opel Astra or “similar”.On arrival at Europcar, I was told the Astra was not available but that I could have a similar Ford Focus. Because I did not wish to buy their collision damage waiver I was
  
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• How to stop the super-rich looting our wealth: make it illegal | Phil McDuff

  14-11-2017 10:00 via theguardian.com
  The Paradise Papers expose a business model that lets the few asset-strip the many. Governments have powerful tools to stop this – but do they have the will?The Paradise Papers has revealed that the amount of money being stashed “offshore” by the UK’s super-rich is greater than we had previously thought. At the same time, the government has launched an inquiry into rising household debt, as the UK’s borrowing reaches levels last seen before the global financial cris
  
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• The fatal flaw of neoliberalism: it's bad economics

  14-11-2017 07:00 via theguardian.com
  Neoliberalism and its usual prescriptions – always more markets, always less government – are in fact a perversion of mainstream economics. By Dani RodrikAs even its harshest critics concede, neoliberalism is hard to pin down. In broad terms, it denotes a preference for markets over government, economic incentives over cultural norms, and private entrepreneurship over collective action. It has been used to describe a wide range of phenomena – from Augusto Pinochet to Margaret T
  
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• Austerity, not Brexit, has doomed the Tory party | Aditya Chakrabortty

  14-11-2017 07:00 via theguardian.com
  Our economy is sick – and with next week’s budget, May and Hammond look sure to make it sickerThe obituary for this government was published within days of its birth. Theresa May was a “dead woman walking”, proclaimed former cabinet colleague George Osborne. Thus was a sniggering bully transformed into an acerbic prophet. Who now dares argue with that verdict? Two senior ministers out within a week, two more barely clinging on to their jobs, and an administration that mak
  
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• Old £10 notes will expire on 1 March 2018, says Bank of England

  14-11-2017 01:05
  Only new £10 banknotes featuring Jane Austen will be legal tender from cut-off dateThe last date for using the old £10 note featuring Charles Darwin will be 1 March 2018, the Bank of England has announced.After that date only the new £10 notes, featuring Jane Austen, will be legal tender. The plastic notes featuring Austen – the first female writer to feature on a banknote – were first issued inin September and by early October accounted for 55% of £10 notes i
  
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• US will become a net oil exporter within 10 years, says IEA

  14-11-2017 01:01 via theguardian.com
  International Energy Agency says US oil production between 2010 and 2025 will grow at a rate unparalleled in historyThe shale revolution in north America means the US is destined to become a net oil exporter within 10 years, for the first time since the 1950s.The International Energy Agency said it expected that American oil production between 2010 and 2025 would grow at a rate unparalleled by any country in history, with far-reaching consequences for the US and the world. Continue reading...
  
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