Financial news

• Bitcoin price CRASH warning: Top economist says Bitcoin could end up like Tulip Mania

  15-12-2017 23:18 via feedproxy.google.com
  BITCOIN price warning issued as a top economist says the Bitcoin bubble is the same as Tulip Mania, the first recorded economic bubble.
  
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• How investing in solar energy can create a brighter future for Africa

  15-12-2017 20:11 via theguardian.com
  A new scheme aims to lighten the lives of millions who live without electricity, with the promise of a possible 6% returnHow would you like to earn a return of up to 6% on your cash while at the same time providing families in countries such as Kenya with “life-changing” access to clean, affordable solar energy?Energise Africa is a new ethical investment scheme which aims to raise £20m to provide a brighter future for more than 110,000 families and small businesses in sub-Sahar
  
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• Poundland suppliers hit by insurance downgrade

  15-12-2017 20:06 via theguardian.com
  Credit insurers reduce cover for stock sold to discount retailer after £5bn accounting scandal at parent company SteinhoffPoundland faces potential difficulties with suppliers after an insurance company reduced its cover on credit for those selling goods to the cut price chain.The credit insurer Atradius reduced its cover relating to stock sold to Poundland earlier this week, according to the trade journal The Grocer, after an accounting scandal hit the British chain’s South African
  
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• Cryptocurrencies: City watchdog to investigate new fundraising trend

  15-12-2017 19:58 via theguardian.com
  FCA to escalate scrutiny of initial coin offerings in currencies such as bitcoin, increasingly used by startupsThe City regulator is intensifying its scrutiny of initial coin offerings (ICOs) in cryptocurrencies such as bitcoin to establish if new rules are needed for the fast-growing market.Celebrities such as Paris Hilton, Floyd Mayweather and Harry Redknapp have associated themselves with ICOs, which can be used to raise money for internet startups. Hilton, though, is reported to have deleted
  
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• Unilever sells household name spreads to KKR for £6bn

  15-12-2017 19:41 via theguardian.com
  Flora, Becel and I Can’t Believe It’s Not Butter are among the brands sold as consumer goods giant seeks to overhaul its businessHousehold names such as Flora and I Can’t Believe It’s Not Butter have been sold by consumer goods giant Unilever to private equity house KKR in a £6bn deal.Unilever put the unit up for sale in April in a bid to rejuvenate its business, sparking a bidding war among buyout firms. Bloomberg calculations showed it was the biggest-leveraged bu
  
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• The Guardian view on the Brexit talks: nothing to applaud in Brussels | Editorial

  15-12-2017 19:29 via theguardian.com
  The EU and the UK have agreed to talk about their future relationship. Parliament should take back control of the processThere is one respect – but only one respect – in which the European council’s decision on Friday about the Brexit process should be welcomed. The council, consisting of the 27 EU member states, has now agreed that enough progress has been achieved in phase one of the talks between the EU and the UK to move on to phase two. Sufficient agreement on the departur
  
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• The Guardian view on Ryanair’s model: a union-friendly company? | Editorial

  15-12-2017 19:29 via theguardian.com
  It is wrong to assume that collective bargaining is incompatible with a modern economyThe decision by Ryanair’s chief executive, Michael O’Leary, to suddenly reverse decades of policy and recognise pilot unions for the first time is a good thing. For Mr O’Leary, who has never complained about being seen as a foul-mouthed bully, it is a welcome recognition that bulldozing your way through workers’ rights to make money doesn’t always work. Rather than attempt to break
  
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• EU to force firms to reveal true owners in wake of Panama Papers

  15-12-2017 19:23 via theguardian.com
  Anti-corruption campaigners welcome move but criticise failure to include trusts in corporate ownership requirementsCompanies across the EU will be forced to disclose their true owners under new legislation prompted by the release of the Panama Papers.Anti-corruption campaigners applauded the agreement as a major step in the fight against tax evasion and money laundering, but expressed disappointment that trusts will mostly escape scrutiny. Continue reading...
  
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• 'Nobody needs that sort of money': reaction on Persimmon estates to CEO bonus

  15-12-2017 18:54 via theguardian.com
  Revelations of a £100m-plus bonus for housebuilding firm’s chief executive draw disbelief among residentsResidents on Persimmon estates have reacted with a mixture of anger and bitter laughter to the news of a £100m-plus bonus for the company’s chief executive, with some saying the sums involved were not justified by the standard of their homes.On the George Ward Gardens development in Wiltshire, the revelations over Britain’s most generous ever bonus payout, which
  
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• Suds and spuds: inside the giant German factory turning potatoes into Pritt Stick

  15-12-2017 18:19 via theguardian.com
  Henkel’s Düsseldorf plant was built at the turn of the century but is looking to the future - with solar panels, electric vehicle charge points for staff and a sustainability lab for childrenFor more than a century, the Ruhr Valley and the Rhineland have been the heartland of German industry. Sprawling cities and soaring smokestacks combine with surprisingly large swathes of forest to create a distinctive, and not unattractive, landscape. It is one that has seen more than its fair sha
  
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• Inside the giant German factory turning potatoes into Pritt Stick

  15-12-2017 18:19 via theguardian.com
  Henkel’s Düsseldorf plant was built at the turn of the century but is looking to the future - with solar panels, electric vehicle charge points for staff and a sustainability lab for childrenFor more than a century, the Ruhr Valley and the Rhineland have been the heartland of German industry. Sprawling cities and soaring smokestacks combine with surprisingly large swathes of forest to create a distinctive, and not unattractive, landscape. It is one that has seen more than its fair sha
  
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• Ryanair to recognise unions to prevent pilots' strike before Christmas

  15-12-2017 18:14 via theguardian.com
  Historic shift comes as Michael O’Leary urges pilots in UK, Ireland, Germany, Italy, Spain and Portugal not to take strike actionRyanair is to recognise pilot unions for the first time in its 32-year history in an attempt to prevent strikes in the run-up to Christmas. Michael O’Leary’s refusal to recognise trade unions was at the heart of the low-cost airline business model he developed, transforming a small Irish regional airline into Europe’s largest carrier by passenge
  
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• EU leaders agree to move to second-stage Brexit talks - as it happened

  15-12-2017 18:00 via theguardian.com
  The EU27 has agreed to a joint proposal from the UK and the European commission to move on to discussions about Britain’s future outside the bloc 5.00pm GMTThanks for following the blog today and for all your comments. I’m wrapping up proceedings now with this summary: 5.00pm GMTMy colleague Dan Roberts has looked into his crystal ball to forecast how the second stage of Brexit talks are likely to pan out. Related: Running out of wriggle room: what do future Brexit talks promise for
  
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• More than 1m 'forgotten homes' in UK do not get fast enough broadband

  15-12-2017 17:56
  Ofcom report finds 4% of UK properties cannot access speeds of at least 10Mbps deemed necessary for modern internet useMore than 1m “forgotten homes” across the UK are unable to get sufficiently fast broadband to meet a typical family’s needs, from watching Netflix to browsing YouTube.Ofcom, the communications regulator, said 4% of UK homes and offices, about 1.1m properties, could not access broadband speeds of at least 10Mbps. Continue reading...
  
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• Macron and Merkel compete in bid to lure 10,000 bankers from London

  15-12-2017 17:52 via feedproxy.google.com
  FRANCE is planning to lure 10,000 bankers across the Channel by offering lucrative tax breaks.
  
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• Persimmon bosses must decide how greedy they want to be | Nils Pratley

  15-12-2017 17:49 via theguardian.com
  Mega-million payouts look appalling amid a housing affordability crisis – doubly so when bonuses appear determined by luck and subsidy, not just skillLet’s hope the penny now drops for Jeff Fairburn, Persimmon’s chief executive and a man looking to scoop a bonus currently worth around £110m.The moral to be drawn from the resignation of the chairman, Nicholas Wrigley, should be simple: you don’t deserve the full whack, so best to forfeit a good chunk or make a hefty
  
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• BITCOIN WARNING: Investor who made MILLIONS from currency in alert – ‘It may be WORTHLESS’

  15-12-2017 17:33 via feedproxy.google.com
  POTENTIAL bitcoin investors have been advised not to waste their cash on the cryptocurrency by one financial guru who made millions from it.
  
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• Let’s move to Pwllheli and the Llŷn Peninsula: a bastion of Welshness

  15-12-2017 17:30 via theguardian.com
  This fabulous dangle of land, sandy bays and lush, juicy hills is still one of the most Welsh-speaking parts of the countryWhat’s going for it? Many things inexcusable today took place in the 1970s. Among them my futile attempts as a small boy to pronounce Welsh words on our summer holidays to the Llŷn Peninsula. I am ashamed to say Puff-welly was as good as it got. For which, citizens of Pwllheli, citizens of Wales, I can only apologise. With the clarity of adulthood, I can not only
  
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• Persimmon chair quits over failure to rein in CEO's 'obscene' £100m+ bonus

  15-12-2017 17:16 via theguardian.com
  Nicholas Wrigley quits over failure to cap housebuilder’s pay scheme, believed to be most generous ever in UKThe chair of housebuilding firm Persimmon has resigned over his role in orchestrating a £100m-plus bonus for the company’s chief executive, as critics accused the firm of benefiting from the taxpayer-backed help-to-buy scheme. Continue reading...
  
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• UK households under most financial strain in 5 years - Financial Times

  15-12-2017 16:57
  Financial Times
  UK households under most financial strain in 5 years
  Financial Times
  UK households have been stretching their finances for the first time in five years during 2017, according to Bank of England research. In its latest report about British households, the central bank found their finances became more fragile this year ...en meer »
  
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• Household finances are worse since Brexit vote, says Bank of England

  15-12-2017 16:37 via theguardian.com
  Study of over 6,000 households found an increase in people reporting high mortgage debt, repayment costs and rentsAlmost a decade of improvements in household finances has started to be unpicked in the year since the EU referendum, according to the Bank of England. Findings from a biannual study for Threadneedle Street of more than 6,000 UK households found an increase in people reporting high mortgage debt when considering their income, while there were also worrying increases in repayments and
  
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• Madrid offers sun and sanctuary to businesses escaping Brexit

  15-12-2017 15:54 via theguardian.com
  As Britain prepares to leave the EU, there is acknowledgement that some of the City of London’s losses could be this city’s gainsBarely had the results of the EU referendum sunk in when a doctored photo of the famous banner that hangs from Madrid’s Cibeles palace began doing the rounds on social media. The “refugees welcome” sign that adorns the offices of the city council had been mischievously prefixed with a single word: British.Eighteen months on, despite enduri
  
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• BP returns to solar power with $200m stake in Lightsource

  15-12-2017 15:18 via theguardian.com
  Tie-up with Europe’s biggest solar developer will focus on alternative energy projects in US, India and Middle EastBP has paid $200m (£149m) for a 43% stake in Europe’s biggest solar developer, marking its return to the sector from which it withdrew six years ago.The investment in the London-based Lightsource marks a turnaround for the British oil firm, which rebranded as Beyond Petroleum in 2000 but shut its alternative energy headquarters nine years later. Continue reading...
  
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• Pound drops despite Brexit talks moving on to second phase - as it happened

  15-12-2017 15:04 via theguardian.com
  Sterling slips back after early gains, even though EU leaders agree to move talks to second phase 2.04pm GMTEC president Jean-Claude Juncker is not the only one to warn that difficult times lie ahead for the Brexit talks. Moody’s Investors Service said in a new report:The agreement in principle on the terms of the UK’s withdrawal from the European Union is positive to the extent further delays would have reduced the time available to avert a “no- deal” scenario on 29 Marc
  
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• Bitcoin WARNING: 'Be prepared to lose ALL your money!' City regulator's SERIOUS concerns

  15-12-2017 15:01 via feedproxy.google.com
  THE HEAD of the Financial Conduct Authorities warned people who want to invest in Bitcoin to “be prepared to lose all your money” as consumers have very little knowledge of the new currency.
  
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• Bitcoin: Top economist says Bitcoin bubble fuelled by 'Corbynistas' who will grow 'bored'

  15-12-2017 14:51 via feedproxy.google.com
  THE BITCOIN bubble will crash as pro-Corbyn and "financially illiterate" millennials grow bored with the cryptocurrency, chief economist Savvas Savouri said.
  
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• UAE and UK in talks over financial services cooperation - International Investment

  15-12-2017 14:08
  International Investment
  UAE and UK in talks over financial services cooperation
  International Investment
  The Lord Mayor of the City of London led a delegation that visited the Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC) to discuss areas of mutual interest in the financial services industry. DIFC ...
  
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• BITCOIN BOMBSHELL: Cryptocurrency has officially been a bubble for MONTHS, experts say

  15-12-2017 14:07 via feedproxy.google.com
  BITCOIN has been a bubble since February when its price passed $1,000 , according to the first study into the driving forces behind the price of the cryptocurrency.
  
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• Designer trees and board-game butlers: Christmas in London's poshest hotels

  15-12-2017 14:04 via theguardian.com
  At Claridge’s they will read your children stories as you sip champagne, while the lights on the Connaught’s tree spell out bespoke poems by Tracey EminIt’s a popular family ritual across the world – settling the children down and reading them ’Twas the Night Before Christmas as the excitement builds for the big day. But if you’re super wealthy you can choose to have a professional read it for you as part of a minimum £3,000 festive break at a five-star
  
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• Bitcoin craze: Be prepared to LOSE money as cryptocurrency 'DWARVES' 1929 crash bubble

  15-12-2017 13:55 via feedproxy.google.com
  THE HEAD of Fisher Investments said Bitcoin will top all previous investment crashes and will “dwarf” the bubble that preceded the 1929 crash that triggered the Great Depression.
  
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• BT customers get to binge on Game of Thrones after landmark Sky deal

  15-12-2017 12:39 via theguardian.com
  Sky Atlantic blockbusters and BT premium sports will now be available to both sets of subscribers after content-sharing dealBT TV customers are to get access to all of Sky’s sport and entertainment channels, including Game of Thrones for the first time, in a landmark deal that could have ramifications for Premier League rights auction.The deal marks the end of nearly a decade-long dispute over carrying each other’s channels, as the two companies wrangled over commercial terms.Continu
  
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• Pound v Euro: Exchange rate stabilises ahead of EU summit Brexit vote

  15-12-2017 11:31 via feedproxy.google.com
  THE pound is holding its ground against the euro this morning as markets await the EU summit vote on whether to proceed to the second stage of Brexit talks.
  
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• POUND LIVE: Sterling slides as euro data booms

  15-12-2017 11:17 via feedproxy.google.com
  THE pound opened lower against the euro on Friday, adding to losses from Thursday as a slew of positive data from Europe sent the single currency and stock markets up.
  
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• TheCityUK: The UK Retains Top Spot In International Financial Services Trade - Exchange News Direct

  15-12-2017 10:48
  TheCityUK: The UK Retains Top Spot In International Financial Services Trade
  Exchange News Direct
  TheCityUK has today published its 2017 compendium of economic statistics detailing the UK's position within the global financial marketplace. The UK is world's leading exporter of financial and related professional services. In 2016 the UK-based ...
  
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• UK still the top global financial services exporter but Brexit risk ... - The Independent

  15-12-2017 09:31
  The Independent
  UK still the top global financial services exporter but Brexit risk ...
  The Independent
  Britain kept the top spot in global financial services exports last year but Brexit threatens to raise barriers to its biggest market in Europe, TheCityUK said on Friday. The body, which promotes Britain as a financial centre, said banks, insurers ...en meer »
  
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• UK keeps top financial sector global ranking - Times of Malta

  15-12-2017 08:37
  Times of Malta
  UK keeps top financial sector global ranking
  Times of Malta
  Britain kept the top spot in global financial services exports last year but Brexit threatens to raise barriers to its biggest market in Europe, TheCityUK said on Friday. The body, which promotes Britain as a financial centre, said banks, insurers ...en meer »
  
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• Saving for grandchildren: what should I consider?

  15-12-2017 08:00 via theguardian.com
  The simplest option is to open a bank account – but in the longer term, it may be worth considering settig up a trustMy wife and I would like to set up a savings account for our young grandchild. How we should approach this? SS, Rochester, Kent Continue reading...
  
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• Home on an island off Anglesey – in pictures

  15-12-2017 08:00 via theguardian.com
  Enjoy sea views and splendid isolation at this detached five-bed property, which can be reached by a causeway at low tide Continue reading...
  
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• Is Bitcoin the new way of doing business? At the moment it's slow and costly | John Quiggin

  15-12-2017 03:27 via theguardian.com
  Bitcoin was intended to ultimately replace government-issued currencies. But while its price has surged, the use of Bitcoin as a currency is not taking offBitcoin has arrived, it seems. Not only has the price of Bitcoins soared above $15,000, repeatedly recovering from sharp drops along the way, but financial markets are now treating Bitcoin and other cryptocurrencies as legitimate financial assets. Most recently, the Chicago Mercantile Exchange has announced that it is about to launch a Bitcoin
  
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• The UK is still the world's top financial services exporter generating more than its next two competitors combined - City A.M.

  15-12-2017 01:01
  City A.M.
  The UK is still the world's top financial services exporter generating more than its next two competitors combined
  City A.M.
  The UK has managed to retain the title of the world's biggest financial services exporter by a country mile, new data from TheCityUK has revealed. Last year the tiny island netted a total trade surplus from financial and related professional services ...
  
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• GBP v USD: Pound slips lower on market as unease over Brexit negotiations deepens

  15-12-2017 01:01 via feedproxy.google.com
  EXPECTATIONS that today’s European Council meeting will result in a vote to move Brexit negotiations onto phase two has not boosted the pound against the US dollar this morning.
  
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