Financial news

• Bank's olive branch increases chance of Brexit deal City can live with

  20-12-2017 20:43 via theguardian.com
  Bank of England casts itself as model of reasonableness in allowing EU banks to continue operating in UKSmart move by the Bank of England. While Michel Barnier, the European Union’s chief Brexit negotiator, is warning about UK banks losing their passporting rights to operate in the single market, Threadneedle Street is trying to position itself as a model of sweet reasonableness. All being well, EU investment banks operating in the City will be able to carry on after Brexit almost as if no
  
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• A victory for workers over Uber. But beware the Brexit roadblock | Dawn Foster

  20-12-2017 19:13 via theguardian.com
  The ruling by the European court of justice is a huge win for employment rights in the gig economy. But in Britain it could be scuppered when we leave the EUWorking in the public relations department of Uber must be a sisyphean task – especially after today’s ruling by the European court of justice that Uber is in fact a commercial transport service, and so must comply with the rules governing employers of transport providers. Related: Uber to face stricter EU regulation after ECJ ru
  
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• Bank of England Carney says UK is banker for Europe, IMF welcomes Brexit progress –as it happened

  20-12-2017 18:54 via theguardian.com
  Bank of England governor Mark Carney up before Treasury committeeGloomy Brexit forecasts for UK are coming true, says IMFEU’s Barnier: Brexit transition should end 31 December 2020 - live 5.54pm GMTIt was a busy day for the week before Christmas.The International Monetary Fund welcomed progress on Brexit talks but warned the timeframe is ambitious because of the long list of tasks to address. It cut its forecast for the UK economy from the 1.7% it expected in October to 1.6%, and said it e
  
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• Bank of England to allow EU banks to keep UK operations unchanged after Brexit

  20-12-2017 18:45 via theguardian.com
  Plan seen as direct challenge to EU to adopt a similar policy for UK-based banksThe Bank of England plans to allow European banks to maintain their UK operations under current rules following Brexit, in a direct challenge to European Union regulators to adopt the same policy towards UK-based banks.The Bank said it wanted to press ahead with assessing the risks posed by the 177 banks and insurance companies based in the European Economic Area that have branches in London, following the agreement
  
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• Gloomy Brexit forecasts for UK are coming true, says IMF

  20-12-2017 18:40 via theguardian.com
  Fund trims growth forecast as Christine Lagarde strongly defends pre-referendum prediction of slowdown from leave voteThe International Monetary Fund has strongly defended its gloomy forecasts for the UK after Brexit, saying pre-referendum warnings of slower growth were coming true.Christine Lagarde, the fund’s managing director, said the vote to leave the EU in June 2016 was already having an impact and Britain’s weaker growth this year was in contrast to accelerating activity in th
  
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• Nearly 45,000 UK retailers in financial distress this Christmas

  20-12-2017 18:38 via theguardian.com
  Snow and consumer spending squeeze affect number of shoppers on high street, while Toys R Us may enter administrationNearly 45,000 retailers are in financial distress this Christmas as a snowy weekend and the squeeze on consumer spending power hit sales after the Black Friday rush.While Toys R Us faces potential administration on Thursday if a deal cannot be struck with the pensions lifeboat, there has been a 22% increase in the number of retailers, nearly 8,000 more, facing “significant f
  
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• Ryanair to face select committee investigation over working conditions

  20-12-2017 18:34 via theguardian.com
  Frank Field and Rachel Reeves write to Michael O’Leary after claims of staff being underpaid and having to pay for uniformsRyanair will be investigated by two parliamentary committees over allegations about employee working conditions, including that the budget airline has been “trying to wriggle out” of paying its staff the national minimum wage.Frank Field, chair of the work and pensions committee, and Rachel Reeves, chair of the business select committee, on Wednesday wrote
  
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• Last-minute Christmas shopping guide: is there still time to save the day?

  20-12-2017 17:21 via theguardian.com
  Guide to online deadlines for guaranteed deliveries – and a word of warning for those hitting the high street to buy their presents on Christmas EveHave you done your Christmas shopping yet? There is still plenty of time to hit the high street but deadlines are rapidly approaching for online purchases. Here is a roundup of retailers’ last order dates for guaranteed delivery before Christmas and, for those who really like to leave things to the last minute, a guide to opening hours on
  
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• Uber to face stricter EU regulation after ECJ rules it is transport firm

  20-12-2017 14:52 via theguardian.com
  Company loses challenge by Barcelona taxi drivers’ group, which argued Uber was directly involved in carrying passengersUber is a transport services company, the European court of justice (ECJ) has ruled, requiring it to accept stricter regulation and licensing within the EU as a taxi operator.The decision in Luxembourg, after a challenge brought by taxi drivers in Barcelona, will apply across the whole of the EU, including the UK. It cannot be appealed against. Continue reading...
  
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• Trump may celebrate his tax giveaway – but politically it could cost him dear | Jonathan Freedland

  20-12-2017 12:49 via theguardian.com
  This bill stinks – the men behind it will benefit from it personally. But once it’s passed, the president is just that little bit less useful to RepublicansDonald Trump is set to close this most turbulent year with his first big win. Today, barring a last-minute hitch, both houses of the US Congress will send the president a tax reform bill that he will sign with full ceremony. He’ll lavish praise on himself and say he’s making good on his promise to make America great ag
  
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• Pound V euro: GBP stabilises as Brexit plans impact on EU banks

  20-12-2017 12:03 via feedproxy.google.com
  STERLING stabilised against the euro on Wednesday as markets reacted to news that the Bank of England might allow EU banks to operate as normal in the UK after Brexit.
  
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• FSTE 100: Top 10 most popular stocks of 2017

  20-12-2017 11:45 via feedproxy.google.com
  THIS has been a strong year for investors with the flagship FTSE 100 rising 6 per cent to close at 7,543 yesterday.
  
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• Bitcoin price WATCH LIVE: Is cryptocurrency bubble going to burst? LIVE ANALYSIS

  20-12-2017 11:26 via feedproxy.google.com
  BITCOIN could spiral out of control before a huge crash, experts have warned. Watch live Bitcoin price update amid fears of a drop in the cryptocurrency.
  
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• IMF downgrades UK growth to 1.5% in 2018 as Brexit recession prediction is proved wrong

  20-12-2017 11:14 via feedproxy.google.com
  THE International Monetary Fund says that recent progress in Brexit talks comes as good news but downgrades UK economy growth to from 1.7 percent to 1.5 percent in 2018 despite Christine Lagarde's recession prediction failing to materialise.
  
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• Forget gadgets for stockings fillers, THIS is the perfect gift to give for Christmas

  20-12-2017 11:01 via feedproxy.google.com
  INSTEAD of filling the family’s Christmas stockings with more gadgets and gizmos, experts suggest giving them something with real staying power.
  
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• High-speed broadband to be legal right for UK homes and businesses

  20-12-2017 10:54 via theguardian.com
  Government says internet providers will be legally obliged from 2020 to meet user requests for speeds of at least 10MbpsBritish homes and businesses will have a legal right to high-speed broadband by 2020, the government has announced, dismissing calls from the network provider BT that it should be a voluntary rather than legal obligation on providers.The Department for Digital, Culture, Media and Sport said only a universal service obligation (USO) would offer certainty that broadband speeds of
  
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• Bitcoin price LIVE: Overnight turmoil for Bitcoin after Korean hack attack sparks plunge

  20-12-2017 10:27 via feedproxy.google.com
  THE BITCOIN price took a huge hit overnight after a cyber attack forced one of South Korea’s cryptocurrency exchanges to shut shop and file for bankruptcy.
  
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• The real cost of Christmas - Hosting guests can set you back £200 over the festive period

  20-12-2017 10:17 via feedproxy.google.com
  HAVING the family over is a Christmas tradition, but now when guests stay for a few days the costs can quickly add up.
  
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• ‘Biggest bubble of our LIFETIME’ Bitcoin will spiral out of control and CRASH, expert says

  20-12-2017 08:44 via feedproxy.google.com
  EXCLUSIVE: BITCOIN has been described as the “biggest bubble of our lifetime” as an expert warned the cryptocurrency will likely spiral out of control before crashing.
  
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• POUND LIVE: Sterling rises after European bank concession

  20-12-2017 08:20 via feedproxy.google.com
  STERLING begins the day on the up as news breaks that The Bank of England is planning to allow European banks to operate in the UK as normal post-Brexit.
  
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• The only job I got from Nationwide Placements is tackling spam emails

  20-12-2017 08:00 via theguardian.com
  I’d already shared personal details, so how can I protect myself from identity fraud?I recently sent my CV to an online recruiter called Nationwide Placements. I’ve since realised it is a fake company selling on personal details.As a result, I am receiving multiple spam emails. What can I do to protect myself from identity fraud or other issues, now that I’ve shared my personal details in this way?Continue reading...
  
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• UK's Christmas workers earning less than 10 years ago, study shows

  20-12-2017 07:01
  Clergy members, emergency staff and police officers among those hardest hit by inflation outstripping wage risesMany of those working on Christmas Day, including members of the clergy and the emergency services, will be paid less than a decade ago, with little sign that the earnings squeeze will fade in the new year, according to analysis.Real wages for the most-worked jobs on 25 December, barring kitchen staff, have fallen since 2007 due to rising inflation and meagre increases in pay, a TUC st
  
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• Payments regulator urged to prevent 'ATM deserts' in parts of UK

  20-12-2017 07:01 via theguardian.com
  Treasury select committee concerned about Link network changes that could put 10,000 charge-free ATM’s at riskThe UK payments regulator is being urged to intervene in the row over changes to the Link network that has led to fears that parts of the UK could become “ATM deserts”.Nicky Morgan, the Conservative MP and chair of the Treasury select committee, has told the Payment System Regulator (PSR) that it is responsible for ensuring that the needs of consumers are not jeopardise
  
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• House prices to fall in London and south-east in 2018, say surveyors

  20-12-2017 01:01 via theguardian.com
  RICS warns property market sentiment is turning cautious and only price rises in cheaper areas will save UK suffering nationwide fall in valuesHouse prices in London and the south-east will fall next year as the cautious mood that has gripped the property market in recent months continues into 2018, the body that represents surveyors and valuers has predicted.The Royal Institution of Chartered Surveyors (RICS) said that lower prices were rippling out from central London and would spread to the c
  
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• More than half of pre-Christmas deliveries go awry, says Which?

  20-12-2017 00:47 via theguardian.com
  Watchdog says consumers facing lengthy delays, damaged packages and poor communication in run up to ChristmasDeliveries ahead of Christmas are not arriving as planned with consumers complaining of lengthy delays, damaged packages and poor communication, according to a watchdog. Which? found only a third of consumers (35%) had received their deliveries as expected within the last month.Continue reading...
  
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