Financial news

• Banker warns City about relocating over Brexit

  26-11-2017 22:05 via feedproxy.google.com
  A FUND manager has warned the City not to be too hasty in relocating to the continent ahead of Britain leaving the European Union.
  
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• Grocer Booths up for sale for between £130m-£150m, says report

  26-11-2017 19:00 via theguardian.com
  Upmarket family-run supermarket chain reported to have brought in advisers from investment bank to consider bidsThe upmarket grocery chain Booths has reportedly been put up for sale for between £130m-£150m. Owned by the same family for five generations since tea dealer Edwin Henry Booth opened the first store in Blackpool in 1847, the supermarket chain has 28 locations across the north of England in Lancashire, Cheshire, Cumbria and Yorkshire.Continue reading...
  
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• Spaniards face ham shortage as Chinese market gets taste for jamón ibérico

  26-11-2017 18:05 via theguardian.com
  Iberian ham has become the latest sought-after luxury from the west in China, but demand is outstripping supplyHaving discovered the joys of French wine, caviar and truffles, China’s new rich are turning to a new gourmet delicacy to satisfy their demand for luxury goods from the west: Spain’s jamón ibérico, or Iberian ham. But demand is now threatening to outstrip supply, leaving Spaniards facing steep price rises in their most prized Christmas delicacy.The recent lifti
  
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• Borrowing to invest isn’t burning money – it’s how Labour will fix the economy | John McDonnell

  26-11-2017 17:29 via theguardian.com
  While the Tories have strangled the life out of the economy, we will support the new infrastructure, technology and ideas that are vital to growthThis is the pivotal period in which the battle of ideas over the future of our economy will be lost or won. All the evidence of the failure of austerity has been exposed, and the neoliberals are fighting for their ideological survival. The terrain they have chosen is over state intervention in the economy; they deploy media outriders using trite journa
  
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• British government accused of being soft on tax avoidance

  26-11-2017 17:25 via theguardian.com
  Ministers fail to stop EU taking steps to name and shame British overseas territories in tax haven blacklistThe British government has been accused of being weak on tax avoidance after failing to block the EU from taking the first step in naming and shaming its overseas territories in a tax haven blacklist.Ministers in recent weeks fought to prevent Brussels from sending of letters informing 12 countries that they would be listed unless they promised to change their tax rules. The final EU black
  
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• RBS bailout loss stands at £22billion

  26-11-2017 17:11 via feedproxy.google.com
  TAXPAYERS are sitting on a £21.8billion loss on their Royal Bank of Scotland shares and other credit crunch bailout measures, the Office for Budget ­Responsibility says.
  
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• Philip Hammond could be putting the UK on course for another recession

  26-11-2017 16:58 via theguardian.com
  Falling real incomes, rising debt and low productivity are pushing us towards the danger zone – and measures announced in the budget may not be enoughOn the historical average, Philip Hammond should be worried. Recessions have tended to occur once in every decade since the 1970s, and we’re now almost 10 years from the start of the last one. But while Brexit might be the obvious catalyst – for which the chancellor earmarked £3bn in emergency funding at the budget – t
  
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• Government's industrial strategy will only succeed if EVERYONE buys into it, says GEOFF HO

  26-11-2017 16:29 via feedproxy.google.com
  THE Government will unveil its long-awaited industrial strategy tomorrow and if it is to help rebalance the economy and put Britain on the front foot post-Brexit, it needs to be bold, and packed with concrete measures that can be implemented quickly.
  
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• Boom in renewables weakens fracking's case in UK, says Tory MP

  26-11-2017 15:47 via theguardian.com
  Chair of policy committee also points to action to extract more North Sea gas and oil, suggesting support for shale gas is coolingThe case for fracking in Britain has weakened because of government action to extract more oil and gas from the North Sea and meteoric growth in renewable power, according to a Conservative MP tasked with developing the party’s energy policy.James Heappey said the new rules on tax relief for offshore oil and gas fields announced in last week’s budget could
  
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• Santander's sponsorship of Ferrari F1 team to end this year, say reports

  26-11-2017 14:16 via theguardian.com
  After seven years and €280m, bank has decided not to renew contract as primary sponsor, according to Spanish mediaThe Spanish bank Santander will not renew its Formula One sponsorship of Ferrari at the end of this year, according to reports, after spending seven years and €280m (£250m) backing the sport’s most illustrious team.The bank became Ferrari’s primary sponsor in 2010 when the Spanish driver Fernando Alonso joined the team and Santander was still run by Emilio
  
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• Tobacco mea culpa: companies to run 'corrective' ads in US on smoking's harm

  26-11-2017 13:01 via theguardian.com
  Tobacco companies have delayed correcting false statements for eleven years since a federal court ordered them to do soEleven years after a federal court found tobacco companies conspired to deceive the American public, the companies will air television and newspaper ads to correct lies they told over the course of the 20th century.The “corrective statements” to be aired beginning 26 November are part of a 2006 judgment against tobacco companies, which found companies such as RJ Reyn
  
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• The trouble with big data is the huge energy bill | John Naughton

  26-11-2017 08:00 via theguardian.com
  The power consumed by the internet giants’ massive server farms and the mining of the cryptocurrency are growing into a giant environmental headacheOnce upon a time, a very long time ago – 2009 in fact – there was a brief but interesting controversy about the carbon footprint of a Google search. It was kicked off by a newspaper story reporting a “calculation” of mysterious origin that suggested a single Google search generated 7 grams of CO2, which is about half of
  
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• Industrial strategy must put the whole country on the map to lift the UK

  26-11-2017 08:00 via theguardian.com
  An OBR-style watchdog has been appointed to monitor progress, but it needs teethThat’s the budget out of the way – now for the main course. The government’s white paper on industrial strategy, to be unveiled on Monday, could be a far more significant moment for the UK economy than chancellor Philip Hammond’s set of safety-first policy tweaks.The budget measures, in any case, were completely overshadowed by the Office for Budget Responsibility’s gloomy economic forec
  
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• House for sale: only problem is the neighbours own half your bedroom

  26-11-2017 08:00
  A couple only discovered that the boundaries of their new-build are wrong when they tried to move, and they’re not aloneSimon and Maggie Dancer were ready to exchange and complete on the sale of their house when the bombshell dropped. The conveyancing had uncovered the fact that Linden Homes, which had built the Buckinghamshire estate where they live, had miscalculated the boundaries of their home – and that meant their neighbour owned half their master bedroom.That was back in Augus
  
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• Economics editors, it’s your job to tell us what’s really behind the budget

  26-11-2017 08:00 via theguardian.com
  Press and broadcasting experts should look behind the gloomy OBR forecasts and tell us if the UK really is in a hole this big – and what we can we do about itWhat are political correspondents – from Laura, Nick and Robert on down – there for? Not to go to the same old briefings and sing the same old song? Independent judgment is a coverage pearl beyond price?And what are economics correspondents there for on the big budget outing? Not merely to take the latest Office of Budget
  
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• BT won’t refund my pre-paid line rental when I say I’m leaving

  26-11-2017 08:00
  I’m entitled to my money back, but neither the regulator nor BT seem to know the rulesI have recently advised BT that I will be leaving – on the basis that it has put up its prices yet again, allowing me to depart penalty free. The problem is, I pre-bought my landline fees to gain a discount, paying £208 for the year in advance. I have been told that I won’t be in line for a refund of any of this. I seem to remember reading in the Guardian that I should be getting back th
  
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• Chinese market will entice UK financial services - Business ... - China Daily

  26-11-2017 02:30
  Chinese market will entice UK financial services - Business ...
  China Daily
  China's move to further open up its financial industry will help major banks and fund managers in the United Kingdom find new markets after Brexit. The UK is ...en meer »
  
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• There’s only one sick country in Europe – and it’s not Germany | Will Hutton

  26-11-2017 01:05 via theguardian.com
  Our neighbours will come through the horrors of a hung parliament, but Britain’s problems have only just begunSuddenly Germany, famed for its political stability, betrayed a new vulnerability last week. Or so some would have you believe. One of the tragedies of modern Britain is the implosion of the political centre. And without the ballast of a strong centre, we are steadily losing the capacity to think straight.This was a case in point. Chancellor Merkel’s attempts to build a coali
  
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• Life is going to turn very nasty if we can’t solve the growth puzzle | Andrew Rawnsley

  26-11-2017 01:05 via theguardian.com
  If our rulers cannot fulfil the promise of making people better off, politics will be fundamentally reshapedOne of the earliest examples of the personal computer was the LGP-30. Created in 1956, it had a tiny fraction of the processing power contained in the slim phone that I carry in my pocket. This artefact from the Jurassic era of computing was also excruciatingly expensive. Its retail cost was $47,000. That’s more than $400,000 in today’s money.This is one way of illustrating why
  
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• Your Money: Five-minute guide to the rising cost of household insurance cover

  26-11-2017 01:01 via feedproxy.google.com
  HOME insurance is essential, but millions of Britons are taking a major chance by going without it.
  
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• Thomas Cook set to offer savings products such as ISAs to help customers pay for holidays

  26-11-2017 01:01 via feedproxy.google.com
  THOMAS Cook is looking at offering savings products such as ISAs to help customers manage the cost of their holidays, chief financial services officer Anth Mooney says.
  
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• St Pancras International looking to outperform the high street as top shopping destination

  26-11-2017 01:01 via feedproxy.google.com
  ST PANCRAS International is looking to outperform the high street as a top shopping spot this Christmas, after a sparkling sales run last year.
  
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• Budget 2017: Will stamp duty cut make any difference for first-time buyers?

  26-11-2017 01:01 via feedproxy.google.com
  FIRST-TIME buyers and their families will be scanning the property market with renewed excitement, now that most of them will no longer have to pay stamp duty.
  
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