Financial news

• MPs demand Whirlpool explain end to dryer replacement scheme

  01-12-2017 22:02 via theguardian.com
  US company says ‘fall in demand’ behind decision, but 1 million potentially deadly tumble dryers remain in UK householdsMPs have demanded to know why home appliances provider Whirlpool has ended a product replacement scheme for defective products when there are still more than 1 million potentially deadly tumble dryers remaining in British households. The decision follows last week’s announcement that Whirlpool is the ‘worst offender’ for white goods fires in London
  
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• Up to 800 jobs may go as Toys R Us looks to close third of UK stores

  01-12-2017 20:08 via theguardian.com
  Toy chain works on company voluntary agreement as high-street retailers struggle to attract shoppers in run-up to ChristmasUp to 800 jobs are on the line after it emerged that struggling US retailer Toys R Us is looking to close a third of its UK stores.Toys R Us is understood to be working on a company voluntary agreement (CVA), an insolvency procedure used by retailers to close loss-making stores. Continue reading...
  
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• Brussels may include 'punishment clause' in post-Brexit trade deal

  01-12-2017 20:00 via theguardian.com
  Exclusive: EU could impose punitive tariffs on key British exports such as beef if UK seeks to lower regulatory standardsThe EU is exploring the inclusion of a “punishment clause” in any future trade deal with the UK to allow Brussels to slap tariffs on key British exports to the bloc if the UK government seeks to gain a commercial advantage by lowering regulatory standards.In a move that would torpedo the post-Brexit plans of the British cabinet’s key Brexiters, any significan
  
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• BRITISH STEEL PENSION scheme: act to secure the best deal before deadline

  01-12-2017 19:56 via feedproxy.google.com
  MEMBERS of the British Steel Pension scheme, who have not yet decided what happens next to their plan, need to move fast to beat the December 11 deadline.
  
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• Why we can no longer worship at GDP’s altar | Letters

  01-12-2017 19:55 via theguardian.com
  Green Party MP Caroline Lucas argues that we need a new measure of success and wellbeing, while Ian McCalman says the productivity debate focuses too much on manufacturingLarry Elliott (Opinion, 30 November) is absolutely right to question a fixation on growth at all costs. We know that infinite economic growth simply isn’t compatible with a planet of finite resources, and we also know that the treatment of environmental concerns as “externalities” in pursuit of never-ending GD
  
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• Palmer & Harvey paid out £70m since 2008 despite ongoing losses

  01-12-2017 19:39 via theguardian.com
  UK’s biggest tobacco distributor called in administrators and ceased deliveries on Tuesday, making 2,500 people redundantPalmer & Harvey directors, former directors and other shareholders extracted about £70m in cash from the grocery wholesaler over the past nine years despite ongoing losses.The company, where 2,500 people were made redundant earlier this week and a further 900 jobs are at risk, had been owned by dozens of private individuals via a complex web of equity and loans
  
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• Morrisons found liable for staff data leak in landmark ruling

  01-12-2017 18:53 via theguardian.com
  Workers whose details were leaked by disgruntled employee may be able to claim compensation but supermarket will appealMorrisons has been found liable for a former employee leaking personal information about nearly 100,000 members of staff in a landmark case which could prompt companies to limit workers’ access to data.
  The ruling opens the way to potential compensation for the workers, although the supermarket chain said it would appeal against the judgment. Continue reading...
  
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• Bitcoin warning: Cryptocurrency is paving the way but carries many weaknesses with it

  01-12-2017 18:39 via feedproxy.google.com
  BITCOIN has had numerous financial professionals claim the cryptocurrency would not survive certain challenges but the digital tender has so far proven them all wrong.
  
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• Electric cars already cheaper to own and run than petrol or diesel – study

  01-12-2017 18:00 via theguardian.com
  Exclusive: Pure electric cars cost less over four years than petrol or diesel cars in the UK, US and Japan, researchers say, but China is set to lead the marketElectric cars are already cheaper to own and run than petrol or diesel cars in the UK, US and Japan, new research shows.The lower cost is a key factor driving the rapid rise in electric car sales now underway, say the researchers. At the moment the cost is partly because of government support, but electric cars are expected to become the
  
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• Let’s move to Whitby, North Yorkshire: it’s the real deal

  01-12-2017 17:30 via theguardian.com
  It’s quite possibly the best place I have ever beenWhat’s going for it? You do know, don’t you, that when I write these columns, I don’t always want to actually move to the places? Is that like me pulling back the curtain on the Wizard of Oz? Whitby is the real deal. I really want to move to Whitby. Really really really really. If only there was a market demand for middle-aged architectural historians with a love of Kate Bush and Kraftwerk at the Whitby jobcentre. This to
  
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• UK tech industry SNUBBED by EU fund but RESCUED by the British Business Bank

  01-12-2017 17:23 via feedproxy.google.com
  THE British Business Bank has been forced to step in to financially assist a new technology fund after the European Union’s investment agency announced it will not be supporting following the Brexit vote.
  
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• How London's loss is Dublin's gain after Brexit

  01-12-2017 17:15 via theguardian.com
  Close to 100 banks, insurers and law firms may be sizing up the Irish capital as an EU base but on the whole a hard Brexit is bad news for IrelandAfter the initial shock of the EU referendum subsided last year, Ireland’s political and business leaders began focusing on the opportunities Brexit could deliver, with Dublin touted as a new “Canary dwarf” luring thousands of banking jobs from London.Around 18 months on, the thorny issues of the border with Northern Ireland and the p
  
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• CARE SHAME: Elderly savers forced to pay £12k MORE than councils for care

  01-12-2017 15:42 via feedproxy.google.com
  ELDERLY care home residents who can afford to pay their way are now being stung with up-front charges and mounting fees to keep the sector in the green a major investigation has unearthed.
  
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• The Christmas jumper is out. Time for the Christmas suit!

  01-12-2017 15:03 via theguardian.com
  Want to stand out at the office party? Then don the sartorial equivalent of wrapping paper. But be quick, they’re selling outFirst it was the onesie, then novelty knitwear reigned supreme during the festive season. Now the Christmas suit, the sartorial equivalent of wrapping paper, arrives in stores in time for the festive season. The brash suits come with reindeers, sleighs and snowmen printed on the technicolour shades of green and red traditionally favoured by elves. John Lewis has alre
  
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• UK financial organisations plan to continue hiring in 2017 despite ... - The Independent

  01-12-2017 14:54
  The Independent
  UK financial organisations plan to continue hiring in 2017 despite ...
  The Independent
  UK banks, asset managers and insurers have no plans to stall hiring next year, despite the ongoing uncertainty surrounding Brexit, a new study shows. A survey of over 900 employers and employees working in banking and finance, conducted by recruitment ...en meer »
  
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• Bitcoin BIGGER THAN TRUMP: Cryptocurrency could replace GOLD as price soars

  01-12-2017 13:16 via feedproxy.google.com
  BITCOIN is continuing to break records by generating more Google searches than Donald Trump.
  
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• Tenancy overhaul in Scotland hailed as 'new dawn' for private renters

  01-12-2017 13:05
  Reforms backed by campaigners give tenants longer notice periods, indefinite security of tenure and limit rent risesHousing campaigners have hailed “a new dawn for renters” as sweeping reforms to tenants’ rights have come into force across Scotland. From Friday, anyone beginning a private let will sign a private residential tenancy, which brings with it significantly improved security far outstripping that available to those renting in England. Continue reading...
  
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• Bitcoin price drop of 20 per cent proof currency is for FRAUDSTERS, Goldman Sachs CEO says

  01-12-2017 13:01 via feedproxy.google.com
  BITCOIN is a currency for fraudsters, according to the chief executive of Goldman Sachs, who made the claim after its price dropped by 20 per cent.
  
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• UK factory orders hit four-year high

  01-12-2017 12:56 via theguardian.com
  Survey reveals manufacturing growth rebounding with surge in orders across the sector in November despite Brexit concernsBritain’s factories are enjoying the best business conditions for more than four years as strong demand at home and abroad boosts order books, production and jobs.Comfortably beating expectations in the City, the monthly health check of industry from the research firm IHS Markit and the Chartered Institute of Purchasing and Supply was the most upbeat for the sector since
  
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• Energy firms sitting on £2.3 BILLION of YOUR money overpaid for gas and electricity

  01-12-2017 12:41 via feedproxy.google.com
  ENERGY firms are holding on to £2.3billion of customers’ money that has been overspent by customers using direct debit.
  
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• Amazon Echo, Google Home or Sonos One: which smart speaker should I buy?

  01-12-2017 12:38
  Voice-control devices that can play music, answer questions and buy goods are one of the hottest gifts this Christmas. Here’s what they can do – and our pick of the best buysSmart speakers are set to be the hottest Christmas gift this year. On Black Friday, Amazon dropped the price of its core Echo product to £79 (it is back up to £90 now), while Google slashed the cost of its Home device from £129 to £77.50 at most outlets (it is also back up now). Meanwhile,
  
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• From ding dings to funiculars, 10 cities with the best transport – in pictures

  01-12-2017 12:33 via theguardian.com
  The Arcadis Sustainable Cities Mobility Index analysed the transport of 100 major cities across the three pillars of sustainability: people, planet and profit. Here are the top 10 Continue reading...
  
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• Pound v US dollar: GBP exchange rate dips as doubts raised over Irish border proposals

  01-12-2017 12:25 via feedproxy.google.com
  AFTER racing to a new two-month high yesterday, the pound US dollar exchange rate is sliding this morning on fears that complications over the Irish border could delay Brexit trade discussions.
  
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• Greene King warns of tough market amid profits slide after 'unprecedented' cost increases

  01-12-2017 11:15 via feedproxy.google.com
  GREENE King, one of Britain’s biggest pub operators and brewers, has warned of tough market conditions for the next two to three years after a profits hangover from “unprecedented” cost increases and a consumer spending squeeze.
  
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• The £50bn Brexit bill isn’t such a terrible deal – especially if we pay via QE | Phil McDuff

  01-12-2017 10:50 via theguardian.com
  Against the £435bn Britain already owes itself as a result of printing money, a sum this size shouldn’t be an issue – but the government has made it oneThe UK government’s crack negotiating team, after much bluster, has finally agreed to pay our EU “divorce bill”. It was never in doubt, really. The hard talk has always failed to comprehend that you can’t “just walk away” from a contract you’ve already signed.Sums such as £50bn sou
  
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• RBS to axe 680 jobs as it closes 259 branches

  01-12-2017 09:30 via theguardian.com
  Union calls cuts ‘savage’ as management says it will close 62 Royal Bank of Scotland and 192 NatWest branches across UKRoyal Bank of Scotland is closing 259 branches, a quarter of its network, in a move that puts nearly 700 jobs at risk and sparked political outcry and warnings about the end of high street banking. The bailed-out lender said 62 Royal Bank of Scotland and 197 NatWest branches would shut as customers increasingly turned to online banking.Continue reading...
  
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