Financial news

• Rail services lost under 1960s Beeching cuts may reopen

  28-11-2017 23:30 via theguardian.com
  Transport secretary Chris Grayling could restore closed lines under plan to expand rail network and increase growthRail services lost under the Beeching cuts could be restored to increase jobs and growth, under plans drawn up by the transport secretary to expand the rail network. The government will invite proposals to reopen lines that were closed down following reports by Dr Richard Beeching in the 1960s, or under later British Rail cuts in the 1970s.Continue reading...
  
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• UK financial services sector pays for 11% of total public spending - Gulf Times

  28-11-2017 20:53
  Gulf Times
  UK financial services sector pays for 11% of total public spending
  Gulf Times
  The findings of a report commissioned by the City of London Corp entitled 'Total Tax Contribution of UK Financial Services' drafted by consultancy firm PwC.en meer »
  
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• UK banks seen more resilient to shocks - even 'hard Brexit' - Financial Post

  28-11-2017 20:50
  Financial Post
  UK banks seen more resilient to shocks - even 'hard Brexit'
  Financial Post
  Bank of England Governor Mark Carney speaks during the Bank of England's financial stability report at the Bank of England in the City of London, Tuesday, Nov. 28, 2017. For the first time since it started in 2014 to test the resilience of banks to a ...
  With Flying Colors? UK Banks Would Survive Financial Meltdown After BrexitSputnik International
  All UK banks pass BoE stress tests for first timeFinancial
  
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• Who will win the Anglo-Dutch struggle to woo Unilever? | Nils Pratley

  28-11-2017 20:40 via theguardian.com
  The consumer goods giant says it will choose between London and Rotterdam for its sole headquarters later this yearPaul Polman, chief executive of Unilever, is a considerate fellow. Instead of infuriating either Theresa May or her Dutch counterpart, Mark Rutte, at a delicate moment in the Brexit talks, he will do so at a later date. The Anglo-Dutch consumer goods giant had said it would choose between London and Rotterdam for its sole headquarters by the end of this year. Now the announcement wi
  
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• Viagra will be available over the counter in UK, says medicines regulator

  28-11-2017 19:47 via theguardian.com
  Male impotence drug could be sold without a prescription by spring, in effort to close down lucrative black market Britain is to become the first country where Viagra can be bought over the counter, the medicines regulator has announced. The drug has been been credited with revolutionising treatment for male impotence and reducing stigma surrounding the condition since its commercial launch in 1998 but has become a popular target for criminals. Continue reading...
  
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• Ed Sheeran and Gallagher brothers lead vinyl revival at HMV

  28-11-2017 19:46 via theguardian.com
  Demand soars across all genres, with Sheeran’s Divide on track to be retailer’s biggest selling vinyl record of the yearHMV is predicting its biggest year for vinyl music sales since the late 80s as records make a comeback on the UK’s Christmas wish lists. The music retailer said demand was soaring across all genres, with Ed Sheeran’s Divide on track to be its biggest selling vinyl record of the year, followed by the solo efforts of Liam and Noel Gallagher, formerly of Oa
  
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• Wholesaler P&H goes into administration with loss of 2,500 jobs

  28-11-2017 19:08 via theguardian.com
  Palmer & Harvey, which delivers goods to 90,000 grocery and convenience stores, had been scrambling to shore up financesGrocery and tobacco wholesaler Palmer & Harvey has gone into administration with 2,500 immediate redundancies and a further 900 jobs at risk.The group, which delivers goods to 90,000 grocery and convenience stores, including Tesco, Sainsbury’s and the Costcutter chain, has been scrambling to shore up its finances since the spring. Continue reading...
  
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• As Bitcoin surges in value, Elon Musk denies he's its mysterious inventor

  28-11-2017 18:27 via theguardian.com
  The Tesla boss responded to a ‘not true’ Medium post claiming he is the creator of the cryptocurrency who has never been conclusively identifiedElon Musk is a lot of things. Billionaire, space adventurer, transport revolutionary, but not, he says, the inventor of Bitcoin, the cryptocurrency coin that crossed the $10,000 valuation threshold early on Tuesday. Related: Bitcoin nears $10,000 mark as hedge funds plough inContinue reading...
  
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• Thames Water to halve price increases after failing leak targets

  28-11-2017 18:23
  Company suspends dividend as it brings forward £40m in customer compensation to fund below inflation rises for 2018-2019Thames Water is to halve planned price increases next year after admitting it has let down customers by failing to meet its leakage targets.Britain’s biggest water company said it would now raise prices by 2.3% in 2018-19, meaning the average annual bill will be about £8 less than it would otherwise have been for 5 million households. Continue reading...
  
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• Rising household debt and stagnant pay major threats to UK, says OECD

  28-11-2017 17:09 via theguardian.com
  Thinktank downgrades growth forecast for 2017, saying Brexit uncertainty will mean Britain missing global upswing next yearRising household debt and flatlining wages are becoming a major financial stability risk as Britain slows as a consequence of Brexit, the Organisation for Economic Co-operation and Development has said.The warning from the Paris-based thinktank on Tuesday came as it argued Brexit uncertainty will result in Britain missing an upswing in global growth next year. The OECD forec
  
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• I thought being a homeowner would solve all my woes – but it’s a bigger pain than renting | Stuart Heritage

  28-11-2017 14:04
  As one of the gilded few who has managed to buy a house, the buck now stops with me, even if it means selling an organ to fix the boilerThe worst thing about millennials is their pathological compulsion to rise to the bait. Every couple of weeks, some click-hungry website will publish a story titled “Revealed: young people spend too much money on hair gel”, and then you won’t be able to move for apoplectic twentysomething outrage. “Hair gel isn’t even that expensive
  
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• Sidebarring: the rudest thing you can do with a phone

  28-11-2017 13:31
  Most of us have a secret text-message conversation about somebody who’s in the same room … but should you?Name: Sidebarring.Age: In current form, very young. In concept, ageless. Continue reading...
  
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• Ticket resale sites could face court over consumer law concerns

  28-11-2017 13:16
  Competition watchdog promises to widen investigation into sales tactics used by websites such as Viagogo and StubHubSecondary ticketing firms used by professional touts could be taken to court after a year-long investigation by the UK competition regulator uncovered “widespread concerns” about breaches of consumer law.The Competition and Markets Authority (CMA) also vowed to widen the scope of its investigation to include the controversial sales tactics used by ticket resale websites
  
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• The Brexit economy: is the worst of the 2017 slowdown over?

  28-11-2017 12:40 via theguardian.com
  UK economy has been steadied by static inflation and rising exports as uncertainty of Brexit looms larger and largerBritain’s economy is showing signs of coming through the worst of its 2017 slowdown, according to a Guardian analysis, as exporters benefit from an improving global economy and inflation remained steady.In the week after Chancellor Philip Hammond’s budget outlined the biggest growth downgrade for the UK since the Conservatives came to power in 2010, the Guardian’s
  
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• Business Breakfast RECAP: UK banks pass financial stress tests for the first time - ChronicleLive

  28-11-2017 12:03
  ChronicleLive
  Business Breakfast RECAP: UK banks pass financial stress tests for the first time
  ChronicleLive
  I'm Jonathon Manning and I'm running the live blog this week, to bring you updates on all the breaking business news from across the North East and beyond. This live blog covers the latest big stories from the North East business community as well as ...en meer »
  
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• M&S says ‘no’ to adding my daughter to car insurance

  28-11-2017 08:00
  She’s visiting from Israel. I had no problems with this when I was with Direct LineI changed car insurance provider earlier this year after many years of excellent service at Direct Line. I transferred to M&S, mainly because its quoted premium was considerably lower.All went well until the summer when my daughter, who has lived in Israel for six years, made her annual trip to England. I rang M&S to add her temporarily to my policy – something I had done for several years with
  
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• Scottish councils 'showing signs of serious financial stress' | UK ... - The Guardian

  28-11-2017 07:00
  The Guardian
  Scottish councils 'showing signs of serious financial stress' | UK ...
  The Guardian
  Several councils are two to three years from draining all their savings to fund services after series of funding cuts, says watchdog.
  Scottish councils show signs of 'financial stress'LocalGovalle 18 nieuwsartikelen »
  
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• Birmingham area named poorest in UK has fastest house price rises

  28-11-2017 01:01
  Prices in Ladywood are up 17% in a year, with local estate agents pointing to influx of young professionals and investorsAn area of Birmingham named the poorest place in the UK as recently as last year now has the fastest-rising property prices in the country, according to a report.Prices in the B16 postcode of the city, which covers the Ladywood area, rose by 17% in the 12 months to July, far outstripping any part of London, where the property market has cooled rapidly since the EU referendum.
  
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