Financial news

• Greggs shouldn’t have had to apologise for sausage roll nativity scene advert | Letter from the Very Rev Richard Giles

  17-11-2017 20:05 via theguardian.com
  When a faith tradition loses the capacity to laugh at itself, it is on the slippery slope to hardline fundamentalism, says the Very Rev Richard GilesWhat a shame that Greggs felt obliged to apologise for their lighthearted take on the visit of the Magi to the Christ Child (Report, 16 November). Objectors are correct in saying that other faith traditions wouldn’t take kindly to such a jape, but perhaps the freedom to do so, and the ability to receive it in good part, are signs of grace
  
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• When is the budget 2017? What to expect from Philip Hammond next week

  17-11-2017 19:59 via feedproxy.google.com
  PHILIP Hammond's Autumn Budget next week is expected to outline an economy "that works for everyone". But when will the Chancellor deliver the budget and what to expect from it?
  
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• Mario Draghi: eurozone growth depends on central bank support - as it happened

  17-11-2017 18:55 via theguardian.com
  The president of the European Central Bank warned in a speech in Frankfurt that although the eurozone economy was ‘robust’, recovery was still heavily reliant on stimulus from the European Central BankPound hits two week high amid sharp dollar sell-offCarillion shares plunge after third profit warningUS homebuilding hits one-year high after hurricanes 5.55pm GMTA downbeat end to the week for equities saw declines in most major markets. Worries about the Republican’s prospects o
  
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• France in Brexit BOAST: Paris claims to have snatched 4,000 jobs from London

  17-11-2017 17:53 via feedproxy.google.com
  LONDON firms have already lost 4,000 jobs to Paris because of Brexit, French officials have claimed.
  
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• Britain gives £72MILLION aid to new Chinese SUPERBANK - and Trump won’t be happy

  17-11-2017 17:45 via feedproxy.google.com
  BRITAIN is sending over £72million worth of overseas aid to a new Chinese rival to the World Bank - a move that will anger President Trump’s administration.
  
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• Bitcoin breaks $8,000 barrier amid speculation over spin-off

  17-11-2017 17:45 via theguardian.com
  One unit of the cryptocurrency now valued at more than six times an ounce of gold, after tenfold rise since start of 2017The price of the virtual currency bitcoin has broken the $8,000 barrier for the first time, prompting speculation that it could soar past $10,000 by the end of the year.The rise means one unit of the world’s first major cryptocurrency is now valued at more than six times an ounce of gold, traditionally seen as a safe-haven investment in times of economic turmoil. Continu
  
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• HS2 contractor Carillion races to raise funds after fresh profit warning

  17-11-2017 17:44 via theguardian.com
  Construction firm’s shares plunge after it admits it is at risk of breaching financial covenants and needs to recapitalise Carillion, one of the construction companies working on the HS2 London to Birmingham rail line, is racing to refinance its business after issuing its third profit warning in five months and suffering a collapse in share price.Shares in the company, which is at the heart of several major building projects in the UK, were suspended eight times on Friday after the shock u
  
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• Weak pound brings record number of tourists to UK in August

  17-11-2017 17:31 via theguardian.com
  Visitors splash out highest-ever monthly spend of £2.8bn as UK becomes cheaper destination for bargain huntersBrexit Britain is proving a big visitor attraction: a record number of tourists arrived in the UK in August and they splashed out £2.8bn, the highest monthly tourist spend ever.The number of visitors from the EU climbed 6% to 2.4m, helping to push the total number of overseas visitors arriving in the UK in August to 3.9m – up 5% on last year’s levels. Continue rea
  
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• Let’s move to Stamford, Lincolnshire: it’s a real-life Jane Austen set

  17-11-2017 17:30 via theguardian.com
  Almost implausibly perfect, its film-star beauty never fadesWhat’s going for it? If you have a sense of deja vu in Stamford, it’s probably because you have deja vu-ed these streets before. Film crews after that Merrie-Olde-Englande-before-factories-and-uppity-plebs-ruined-everything look are 10 a penny here. The industrial revolution bypassed Stamford when local nob the Marquess of Exeter lobbied for the railway to go via Peterborough instead. In the 1960s they got a bypass, dec
  
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• How a luxury cat hotel uses Facebook to grow its business

  17-11-2017 17:22 via theguardian.com
  Even niche businesses, such as this luxury resort for cats, can find their target audience with FacebookA luxury resort for pampered pets may seem like quite an unusual business model, but there’s a surprisingly large demand for feline spa days and VIP experiences for privileged cats. Rhik Samadder paid the Longcroft Luxury Cat Hotel a visit to find out how its founder, Abi Purser, has created such a successful business and how Facebook can help even the most niche businesses grow. Continu
  
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• Mario Draghi: eurozone growth depends on central bank support - business live

  17-11-2017 15:17 via theguardian.com
  The president of the European Central Bank warned in a speech in Frankfurt that although the eurozone economy was ‘robust’, recovery was still heavily reliant on stimulus from the European Central BankPound hits two week high amid sharp dollar sell-offCarillion shares plunge after third profit warningUS homebuilding hits one-year high after hurricanes 2.17pm GMTShares in Carillion have fallen from about 240p at the beginning of this year to 28p today: 1.45pm GMTUS homebuilding jumped
  
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• Household finances under strain as Nationwide warns of tough times ahead

  17-11-2017 14:57 via theguardian.com
  Building society warns ‘sluggish’ economy, Brexit uncertainty, weak wage increases and rising inflation are hurting customers’ financesHousehold finances are under worsening pressure, according to Nationwide building society, which reported a fall in profits and warned of tougher trading conditions ahead.Total mortgage lending slipped from £17.5bn to £16.7bn, largely because of a steep decline in loans for buy-to-let following the tax changes. But as lending for lan
  
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• Frankfurt prepares for Brexit: 'It has put extra wind into our sails'

  17-11-2017 14:44 via theguardian.com
  Recently praised by the chief of Goldman Sachs, Germany’s financial capital is in pole position to gain banking jobs from the UKPeter Ferres, founder-headmaster of Frankfurt’s Metropolitan school, knows a thing or two about London bankers: he used to be one of them. For seven years, Ferres worked as a managing director for Credit Suisse in the City, marshalling billion-dollar stock market flotations of emerging market companies. In 2005, he chucked in his career in the Square Mile: a
  
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• Bitcoin price hits $8,000 in NEW high as investors see it as the FUTURE

  17-11-2017 14:19 via feedproxy.google.com
  THE Bitcoin price has soared to $8,000 on major trading exchanges as of this morning.
  
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• Asda continues turnaround with second straight quarter of same-store growth

  17-11-2017 13:21 via feedproxy.google.com
  ASDA continued its turnaround after three years of falling sales with its second straight quarter of same-store growth.
  
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• Even if UK makes a financial offer it could be rejected - The Times

  17-11-2017 13:12
  Even if UK makes a financial offer it could be rejected
  The Times
  At some point in the next three weeks Theresa May has a choice to make. She badly needs to unblock the Brexit process to reassure business, and to a lesser extent the public, so that she can deliver on her pledge to “making a success” of leaving the EU.en meer »
  
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• Royal Mail boosted with higher half-year profits by parcels business GLS

  17-11-2017 13:04 via feedproxy.google.com
  STRONG growth at its European parcels business GLS delivered higher half-year profits for Royal Mail.
  
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• How to budget with flatmates (and stay friends)

  17-11-2017 12:45
  Whether you’re in a student flat or in a thirtysomething co-living arrangement, there’s one thing guaranteed to cause more arguments than washing up: bills. How can you make sure everything gets divided fairly?When you move into a shared house and need to budget, the first thing your parents, your interfering auntie and literally all older people you’ve ever met will tell you is the way they budgeted their money when they were “young”. You get a certain amount out o
  
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• GKN's incoming chief executive AXED weeks before his start date

  17-11-2017 12:13 via feedproxy.google.com
  ONE of Britain’s biggest engineers, GKN, has ditched its incoming chief executive weeks before he was due to take charge after another big writedown at the business he used to run.
  
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• Housing, tax, pensions: what are your hopes for the the autumn budget?

  17-11-2017 12:00
  We’d like to hear about the policies that you’d like to see in Wednesday’s budget and how you think they could affect your situationJohn McDonnell set out Labour’s five key demands for the budget on Thursday, focusing on ending austerity in public services and outlining his fears about possible funding shortages in housing, health, and law and order. Related: End austerity in public services, John McDonnell tells chancellorContinue reading...
  
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• Blaming baby boomers won’t put roofs over young people’s heads, Sajid | Simon Jenkins

  17-11-2017 11:45
  He’s taken sides with millennials, in a debate that has become about avocados. If he wanted to solve the housing ‘crisis’ he would boost social housingIf in doubt, blame someone else. Sajid Javid’s solution to the “housing crisis” is to accuse the baby-boomer bourgeoisie of south-east England of antagonising “avocado-eating millennials”. He says the baby boomers are impeding new houses in the countryside and rendering his Tory-deserting millennials
  
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• Pound V euro: GBP exchange rate jumps as Sterling benefits from USD sell-off

  17-11-2017 11:38 via feedproxy.google.com
  THE pound has risen against the euro this morning, extending its gains from yesterday’s uptick in retail sales figures and being bolstered by a drop in the US dollar.
  
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• HS2 contractor Carillion in fresh profit warning amid debt concerns

  17-11-2017 11:05 via theguardian.com
  Construction firm’s shares plunge as it says it is at risk of breaching financial covenants and will need to recapitalise The British building firm Carillion has issued its third profit warning of the year, saying it is at risk of breaching year-end financial covenants and will need to recapitalise.Shares in the group, which is working on the HS2 London to Birmingham rail line and the Battersea power station project, initially plunged 60% to 17p on Friday morning, but were later trading 30
  
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• 'Canada hasn't paid anything!' Andrew Neil makes BRILLIANT point over Brexit ... - Express.co.uk

  17-11-2017 10:44
  Express.co.uk
  'Canada hasn't paid anything!' Andrew Neil makes BRILLIANT point over Brexit ...
  Express.co.uk
  BROADCASTER Andrew Neil destroyed claims that Britain should pay a financial settlement of up to €60bn in order to get the UK out of the European Union. By Charlotte Davis. PUBLISHED: 08:00, Sat, Nov 18, 2017 | UPDATED: 08:08, Sat, Nov 18, 2017 ...
  
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• John Lewis Christmas ad accused of plagiarism by Mr Underbed author

  17-11-2017 08:47 via theguardian.com
  Chris Riddell points out similarities between Moz the monster and a character from his 1986 picturebookA renowned writer and illustrator of children’s books has suggested John Lewis may have plagiarised one of his stories for its latest Christmas advert, which was launched to great fanfare last week. Chris Riddell, who until recently was the children’s laureate, posted his own version of the advert on social media, comparing it to scenes in his similarly themed book Mr Underbed. He p
  
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• Two cottages and a chapel – in pictures

  17-11-2017 07:30 via theguardian.com
  Pray silence for a wonderfully unique offering … Continue reading...
  
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• Elon Musk unveils Tesla electric truck – and a surprise new sports car

  17-11-2017 07:23 via theguardian.com
  Using diesel trucks now ‘economic suicide’, says Musk – but questions persist over company’s capacity to meet demandElon Musk unveiled Tesla’s first electric semi-truck on Thursday evening at an event in Los Angeles that also included the surprise reveal of a new Tesla sports car. The new Roadster, which has the same name as the first electric vehicle produced by Tesla from 2008 to 2012, emerged from the back of one of the trucks at the end of a presentation that fo
  
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• MPs denounce food regulator after 2 Sisters chicken scandal

  17-11-2017 07:01 via theguardian.com
  Scathing report by MPs attacks oversight and inspection regimes at Food Standards Agency and local authorities The scandal at the 2 Sisters chicken factory should act as a “wake-up call” to the UK food regulator which has presided over a system in which it is simple to “hide infractions,” a report by a committee of MPs has found. Related: 2 Sisters sacks worker filmed at scandal-hit chicken plantContinue reading...
  
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• UK shoppers forecast to spend £10bn in Black Friday sales

  17-11-2017 07:00 via theguardian.com
  Most purchases in UK likely to be made online and spread over the week with big bargains less common as retailers battle rising costs and inflationBritish shoppers are expected to spend £10.1bn in the week of Black Friday, nearly 4% higher than last year as more retailers take part in the US-inspired promotional day.But the bargain fever seen in earlier years is thought unlikely to materialise as most activity will be online with experts warning that the discounts are likely to be less exc
  
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• Don't blame the markets – blame the IPO price tags

  17-11-2017 07:00 via theguardian.com
  For debt collectors Cabot Credit Management its near-£1bn IPO valuation was money deemed not worth chasingThe stock market, we are invited to believe, has been in a state of utter turmoil for the past few weeks. Fund managers have been hiding in bunkers, apparently, afraid to consider new investments. It’s rubbish, of course, but that doesn’t prevent every company that pulls its flotation, or IPO, from blaming the market.The latest is debt-collector Cabot Credit Management, a f
  
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• Black Friday 2017: where to get the best UK deals

  17-11-2017 07:00 via theguardian.com
  Preparation is key to getting the best Black Friday deals, so try this handy guide to what’s on offer in the UKShoppers are expected to spend at least £10bn over the five working days next week as the UK continues its affair with Black Friday, the US-inspired discount day.Most of the action takes place online in this country, with shoppers choosing to bargain hunt from under the duvet using their phone or laptop rather than queueing up outside stores in the early hours. Continue read
  
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• Six million receive unsolicited increase on credit card limit

  17-11-2017 01:01 via theguardian.com
  Citizens Advice raises concerns that lenders ‘actively pushing’ debt on to those who cannot afford itSix million credit card customers had their borrowing limits increased in the last year without being asked by their card provider, according to research by Citizens Advice, which is calling for the government to stop such unsolicited rises. Related: 'They just kept topping it up' – how one credit card user fell £28,000 in debtContinue reading...
  
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• Retail sales rise as bargain hunters looking for second-hand goods boost growth

  17-11-2017 01:00 via feedproxy.google.com
  RETAIL sales rose 0.3 per cent in October from the previous month as shoppers forked out for second-hand goods.
  
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• Just Eat confirmed for takeover of Hungryhouse in £200 million deal

  17-11-2017 01:00 via feedproxy.google.com
  TAKEAWAY ordering group Just Eat has been cleared to gobble up Hungryhouse in a £200 million deal.
  
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• Comcast reportedly targeting 21st Century Fox for acquisition

  17-11-2017 00:33 via theguardian.com
  Murdoch-owned media company’s share price shoots up after the news was first reported by CNBCCable and media giant Comcast has reportedly approached 21st Century Fox about a possible acquisition, a move that comes after Disney was also reported to be circling Rupert Murdoch’s media empire. Related: Rupert Murdoch says his newspapers are struggling in digital ageContinue reading...
  
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• Embrace Change To Succeed, UK Lobby Tells Financial Sector - Law360

  17-11-2017 00:22
  Embrace Change To Succeed, UK Lobby Tells Financial Sector
  Law360
  Law360, London (November 16, 2017, 5:29 PM GMT) -- Regulators must ensure the financial services industry is fully committed to change when a raft of technology-driven reforms starts to transform Britain's banking and payments sector in January, a ...
  
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