Financial news

• Bitcoin price: Is bitcoin stuck in a price bubble? Will bitcoin crash?

  29-11-2017 20:49 via feedproxy.google.com
  BITCOIN prices hit a new high of over $11,000, sparking fears the cryptocurrency is caught in a bubble that should be avoided like “the plague”.
  
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• A bigger slice of the pie: Just Eat enters FTSE 100, with £5.5bn valuation

  29-11-2017 20:37 via theguardian.com
  Online takeaway company flourishes on the back of UK consumers’ love for having pizzas, curries and kebabs delivered to their doorJust Eat, the online takeaway company, was on Wednesday night officially promoted into the FTSE 100 list of Britain’s blue chip companies, with a valuation of £5.5bn – making it worth half a billion pounds more than the UK’s second biggest supermarket chain .The UK’s love affair with having pizzas, curries and kebabs delivered to th
  
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• EU rule capping bankers' bonuses 'could be scrapped after Brexit'

  29-11-2017 20:31 via theguardian.com
  Mark Carney says bonus cap could be among tweaks made to financial regulations when UK leaves in March 2019The governor of the Bank of England has raised the prospect that, after Brexit, the EU rule which puts a cap on bankers’ bonuses could be scrapped.Mark Carney, a long-standing critic of the bonus rules, listed the cap as among the tweaks that could be made to financial regulations when the UK leaves the EU in March 2019. Continue reading...
  
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• Middle class can give up a little or the mob will arrive with pitchforks | Letters

  29-11-2017 20:18 via theguardian.com
  Helen Channer Aupperlee thanks Robert Peston for what he said in his Guardian interview. And Linda Fairbrother’s husband knows what to say when they’re accused of being ‘champagne socialists’Thank you, Robert Peston, for saying the sanest thing I’ve yet to hear about how we might get ourselves out of this mess: “Maybe we [the middle class] should make some sacrifices and be a bit poorer” (Interview: ‘I’m not saying Britain is finished, b
  
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• Why scrapping bonus cap could be a hard sell for Mark Carney

  29-11-2017 20:05 via theguardian.com
  Bank’s worry about EU cap approach was justified, but don’t be surprised if nuanced reason for UK dropping it is lost on manyHere’s one way to keep those footloose and greedy bankers in London after Brexit: appeal to their wallets by dropping the cap on bonuses, which only applies in the EU.The Bank of England may indeed abolish the cap, Governor Mark Carney hinted on Wednesday, even if the motivation is not vulgar opportunism but an analysis of which financial rules could be r
  
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• Pound rallies as progress on Brexit divorce bill raises trade talk hopes

  29-11-2017 19:49 via theguardian.com
  Sterling up against both dollar and euro after news of potential breakthrough on financial settlement between UK and EUThe pound has climbed to its highest level in almost two months against the dollar amid hopes that progress on Britain’s divorce settlement with the European Union will smooth the way for the start of trade talks.With fears receding that the UK would leave the EU in March 2019 without a trade deal, currency investors pushed sterling higher against both the dollar and the e
  
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• Son of oil magnate held by SFO during inquiry into alleged bribery

  29-11-2017 19:41 via theguardian.com
  Sassan Ahsani, whose father runs Monaco energy consultancy Unaoil, was arrested on suspicion of money-laundering offencesA property businessman was arrested during a criminal investigation into alleged bribery in the energy industry, the Guardian understands.Sassan Ahsani was held in May on suspicion of money-laundering offences by the Serious Fraud Office. Continue reading...
  
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• Pound rallies on £50bn Brexit bill hopes; US growth revised up – as it happened

  29-11-2017 18:46 via theguardian.com
  Sterling is rallying amid reports that the UK has bowed to EU demands on the Brexit divorce bill, in an attempt to start discussing tradeUS economy stronger than first thoughtIntroduction: Pound boosted by Brexit bill reports
  Sterling at 2-month high despite Irish border issue
  Bitcoin smashes through $10,000 $11,000Politics Live: Grayling says UK has obligations to pay 5.46pm GMTA mixed day for Europe, but with little real movement on most of the major markets. In the US, the Dow Jones Industria
  
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• UK's Financial Conduct Authority investigates 4 money managers for sharing ... - Pensions & Investments

  29-11-2017 18:45
  Telegraph.co.uk
  UK's Financial Conduct Authority investigates 4 money managers for sharing ...
  Pensions & Investments
  Four money management firms are under investigation by the U.K.'s Financial Conduct Authority for allegedly violating competition rules in equity markets, the FCA said in a statement Wednesday. Artemis Investment Management, Hargreave Hale, Newton ...
  Former Fidante-aligned boutique targeted by UK regulatorFinancial Standard
  UK's Financial Conduct Authority Issues First Stat
  
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• The strange case of the dead snail that helped define UK law, and other tales

  29-11-2017 18:12 via theguardian.com
  From warring neighbours to a dispute with a royal coachman, here are seven of the weirdest legal disputes to have tested and redefined UK lawIn 1789, London butcher George Ormond suffered a broken leg when a royal carriage hit his cart. He sued for damages. The defendant in the case was Don Payne, who managed the affairs of the Prince of Wales at Carlton House and was therefore legally responsible for the actions of the prince’s coachman, George Smith, who had been in charge of the offendi
  
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• BoE's Carney sees changes to UK financial rules after Brexit - Reuters

  29-11-2017 18:04
  Reuters
  BoE's Carney sees changes to UK financial rules after Brexit
  Reuters
  LONDON (Reuters) - Britain's regulators will tweak banking and insurance rules inherited from the European Union after Brexit to make them more tailored to the British market, Bank of England Governor Mark Carney said on Wednesday. The Governor of the ...
  Financial stress test: UK banks would survive 'hard' BrexitITV Newsalle 25 nieuwsartikelen »
  
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• Something doesn't compute in the OECD's rosy picture of Australia | Greg Jericho

  29-11-2017 18:00 via theguardian.com
  The recommendation the RBA should raise interest rates doesn’t fit with the report’s own comments on wages and inflationThe latest OECD report on Australia takes a rather sunny view despite forecasting GDP and consumption growth in 2018 and 2019 that is lower than was projected in the May budget. But its argument for increased interest rates appears rather out of date and is certainly not reflected by current market expectations of rates remaining low while wages growth remains weak.
  
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• Italy promises MORE money for pensioners to get votes for general election next year

  29-11-2017 17:59 via feedproxy.google.com
  ITALY'S leading politicians are promising more money for pensioners as they attempt to attract the older vote in next year's general election.
  
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• Uber says 2.7 million in UK were affected by security breach

  29-11-2017 17:41 via theguardian.com
  London mayor Sadiq Khan says ride-hailing service must take action after ‘catastrophic’ incidentUber has admitted that 2.7 million people in the UK were affected by a 2016 security breach that compromised customers’ information, including names, email addresses and mobile phone numbers.The ride-hailing company had previously disclosed that 57 million people worldwide were affected by a breach that it covered up for more than a year. Continue reading...
  
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• Brexit fearmongers are WRONG - banks will COME to UK not leave, says top economist

  29-11-2017 17:18 via feedproxy.google.com
  BRITAIN’S banks passing the Bank of England's annual stress test is a huge boost for Brexit Britain, according to a top economist.
  
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• Bitcoin price soars above $11,000 as central bankers seek to calm fears

  29-11-2017 16:26 via theguardian.com
  Bank of England and Fed officials say cryptocurrency is too small to threaten world economy amid warnings of bubble
  Bitcoin topped $11,000 on Wednesday, less than 24 hours after hitting $10,000 for the first time, as central bankers on both sides of the Atlantic sought to ease fears that a potential bubble in the cryptocurrency was a threat to the global economy.The digital currency continued on its record-breaking streak, rising to $11,150 just as analysts were digesting the news that it had ma
  
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• London Stock Exchange boss Xavier Rolet quits 'with immediate effect'

  29-11-2017 16:01 via feedproxy.google.com
  THE London Stock Exchange boss Xavier Rolet is leaving his role immediately amid a bitter public row over his successor.
  
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• UK growth figures revised UP in U-turn from OECD

  29-11-2017 15:50 via feedproxy.google.com
  THE Organisation for Economic Cooperation and Development has raised its growth forecast for the British economy in a U-turn just weeks after comparing the effects of Brexit to the Blitz.
  
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• East Coast rail 'bailout' could cost taxpayers hundreds of millions

  29-11-2017 15:42 via theguardian.com
  Unions and Labour criticise government as Virgin Trains East Coast’s contract is terminated three years earlyThe East Coast rail franchise will be terminated three years early, avoiding the embarrassment of another private firm handing back the keys to the government but potentially forfeiting hundreds of millions in premiums due to the Treasury.Under a rail strategy announced by the transport secretary, Chris Grayling, a new partnership model will replace the franchise contract of Virgin
  
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• London suburbs set for housing boom as Sadiq Khan relaxes rules

  29-11-2017 15:01 via theguardian.com
  Mayor plans to build more than 250,000 new homes in capital’s 13 outer suburbs, more than double the current rate
  London’s suburbs are braced for a wave of construction after the mayor, Sadiq Khan, announced that rules protecting local character would be lifted to enable a big increase in housebuilding.The capital’s outer boroughs must build more homes over the next decade than there are in the city of Manchester, according to Khan’s draft London plan. One-third of new ho
  
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• The Highland chocolatiers who are Wonkas of the wilderness

  29-11-2017 15:00 via theguardian.com
  When you’re arguably the most remote chocolate producer in Europe, it pays to have a strong online presence. In the quiet winter months, when tourism drops, Cocoa Mountain can still connect with customers far and wideAt the edge of the world, everyone disappears in the winter. The tourists leave the glacially cold lochs, pristine beaches, and the cloud-scraping mountains to the brave few who live there all year round. It’s an odd place to open a luxury chocolate shop: the most north-
  
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• Productivity investment plays its part in PRESSMARK’s sales success

  29-11-2017 14:55 via feedproxy.google.com
  PUSHING up productivity has been a core strategy for components maker Pressmark Pressings since a new management team bought into the business last year.
  
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• Calls for ban on Coca-Cola's Christmas truck tour over child health fears

  29-11-2017 14:13 via theguardian.com
  Head of Public Health England says annual marketing campaign targets areas where children suffer from higher rates of tooth decay and obesityThe NHS’s public health boss is urging local councils and shopping centres to ban visits from Coca-Cola’s promotional Christmas trucks because of sugar’s key role in rotting children’s teeth and making them fat.
  Duncan Selbie, the chief executive of Public Health England, has criticised the soft drink giant’s annual PR stunt, i
  
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• UK consumer credit growth falls to 18-month low

  29-11-2017 14:05 via theguardian.com
  Decline will soothe Bank of England fears about reckless lending while household incomes are being squeezedThe UK’s consumer debt boom has eased back after growth in lending on credit cards and loans fell to an 18-month low.The Bank of England said unsecured consumer credit grew by 9.6% year on year in October, down from 9.8% in September, soothing fears that banks were lending recklessly at a time when household incomes have come under pressure from stagnant pay growth and high inflation.
  
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• Properties with income potential – in pictures

  29-11-2017 13:51 via theguardian.com
  Start recouping your mortgage costs almost immediately with one of these money-spinners Continue reading...
  
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• Big home owners to pay DOUBLE council tax in authority’s new scheme

  29-11-2017 13:40 via feedproxy.google.com
  SOME of the country’s wealthiest home owners are being urged to double their annual council tax bill and pay a voluntary "mansion tax".
  
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• Shipping firm Clarksons braces for data leak after refusing to pay hacker

  29-11-2017 13:28 via theguardian.com
  World’s largest shipbroker follows large corporations including Deloitte, Yahoo and Equifax in falling victim to cyber-attackShipping company Clarksons is bracing for a tranche of private data to be released, after refusing to pay a ransom to a hacker who staged a “criminal attack” on its computer systems.In a statement to the stock market, the world’s largest shipbroker said it was working with specialist police and contacting customers who may have been affected after a
  
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• Jeremy Corbyn in power with Labour would see borrowing costs soar, expert says

  29-11-2017 13:27 via feedproxy.google.com
  IF Labour took the reigns of power Jeremy Corbyn’s spending plan would drive up costs as the market would be inundated with extra bonds, analysts have said.
  
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• UK financial support for Zimbabwe linked to democratic progress -Johnson - Reuters

  29-11-2017 13:10
  UK financial support for Zimbabwe linked to democratic progress -Johnson
  Reuters
  ABIDJAN (Reuters) - Britain could take steps to stabilize Zimbabwe's currency system and extend a bridging loan to help it clear World Bank and African Development Bank arrears, but such support depends on “democratic progress”, Foreign Secretary Boris ...
  
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• LSE chief Xavier Rolet to leave immediately after boardroom battle

  29-11-2017 10:52 via theguardian.com
  London Stock Exchange Group also says chair Donald Brydon will not stand for re-election as it tries to draw line under rowLondon Stock Exchange Group has asked its chief executive, Xavier Rolet, to leave immediately – a year earlier than planned – in an effort to an end to a row with one of its shareholders over the departure.The company said Rolet was stepping down “at the board’s request”, six weeks after it announced he would leave by the end of next year and he
  
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• Brexit: EU and UK 'close to financial agreement' - Deutsche Welle

  29-11-2017 10:28
  Deutsche Welle
  Brexit: EU and UK 'close to financial agreement'
  Deutsche Welle
  Reports suggest the UK government has made a significantly improved offer to the EU on the terms of its Brexit financial settlement. There's talk of "sufficient progress" before a December 4 meeting but doubts remain. Belgien Brexit-Verhandlungen ...
  UK, EU Get Closer to Financial Terms for BrexitFox Business
  Sterling jumps as UK, EU inch closer to Brexit financial dealHindu Business Line
  UK announces pharma investme
  
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• Regional financial hubs such as Belfast 'help boost UK as global leader in sector' - Belfast Telegraph

  29-11-2017 08:31
  Belfast Telegraph
  Regional financial hubs such as Belfast 'help boost UK as global leader in sector'
  Belfast Telegraph
  Growing financial hubs such as Belfast help boost the attractiveness of the UK as a global centre in the industry, it has been claimed. Research from TheCityUK shows that more than two-thirds of people questioned here say the financial and professional ...
  
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• Universal credit changes won't help anyone feel more secure about renting | Giles Peaker

  29-11-2017 08:23
  Government changes to the controversial benefit are a sticking plaster, rather than an answer to the problems of rent arrears and evictions Pressure has been building for months on the government over the continued rollout of universal credit. Significant problems have been reported over claimants not being paid for the first week of a claim and the six-week delay they face before getting any money. Social landlords in pilot areas reported rocketing rent arrears, including for tenants who had ne
  
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• UK consumers told to keep apples in fridge as part of wider labelling shake-up

  29-11-2017 08:01
  Supermarket packaging will carry new logos advising which items can be kept in the fridge, ensuring they last longer and reduce food wasteBags of supermarket apples will carry a new logo advising consumers to keep them in the fridge to make them last longer as part of a shake-up of food labelling aimed aimed at cutting about 350,000 tonnes of domestic food waste – worth £1bn – by 2025.The confusing and sometimes misleading “display by”, “best by” and &ld
  
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• Currys’ Knowhow team really knows how to alienate its customers

  29-11-2017 08:00 via theguardian.com
  Two readers tell us how the retailer badly let them down on deliveriesI ordered a fridge from Currys and was assured that delivery would not be a problem, even though there are some steps leading down the garden to our house. We paid for delivery, installation and disposal of the old fridge which we emptied and defrosted the night before. However, when they arrived the two delivery men refused to take the new fridge down the steps on grounds of “health and safety”. They advised that
  
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• Value of UK's housing stock soars past £6tn

  29-11-2017 07:01 via theguardian.com
  Biggest rises of the past decade seen in London and the south-east, with the over-55s holding almost two-thirds of the wealth The total value of all the houses in the UK has passed the £6tn mark for the first time, according to research by Halifax which also highlights the vast concentration of property wealth in London and the south-east.The value of homes in London is now more than all the houses in Scotland, Wales and the north of England combined. The research also reveals how property
  
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• Budget: prospects for growth are not looking good, and may get worse

  29-11-2017 01:18 via theguardian.com
  The UK faces the longest period of falling living standards since the 1950s – and that grim forecast is based on Brexit going wellThat was the budget that wasn’t. There was a little fiddling at the edges; the cut in stamp duty designed to help first-time buyers amounted to nothing as it will cause house prices to rise and wipe out any benefit. In the end, it will help only existing homeowners. Same old, same old, in terms of austerity, with more cuts still to come for years ahead.Not
  
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• Uber losses increased to $1.5bn in just three months

  29-11-2017 01:01 via feedproxy.google.com
  UBER Technologies Inc's quarterly losses widened, a source familiar with the matter said, as the ride-hailing company wades through legal troubles and faces regulatory scrutiny across the globe.
  
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• Treasury committee demands answers on cash machine closures

  29-11-2017 01:01 via theguardian.com
  Nicky Morgan asks the ATM network Link to clarify how many cash points will be shut under proposed system changesThe UK’s cash machine network has been asked by the head of the Treasury select committee to clarify how many of the country’s 55,000 free-to-use ATMs will close as a result of proposed changes to the way the system operates.Related: Plan to shut free-to-use cash machines could lead to ‘ATM deserts’ in UKContinue reading...
  
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• Pound V euro: GBP exchange rate strikes two-week high amid Brexit bill

  29-11-2017 01:01 via feedproxy.google.com
  THE pound advanced on the euro today following reports that the UK government is willing to offer €50bn to the EU to cover financial obligations made before Brexit.
  
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