Financial news

• UK consumers trapped in credit card debt for longer than thought

  08-01-2018 17:22 via theguardian.com
  Bank of England and financial watchdog found 89% of card debt was held by consumers also in debt two years agoBritish consumers are trapped by credit card debt for longer than previously thought, according to a study by officials at the Bank of England and the City regulator, as unsecured borrowing reaches levels unseen since the financial crisis.Analysis by the Bank and the Financial Conduct Authority showed it was common for people to remain in debt even after paying off one of their credit ca
  
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• 'More empathy means more profit': why the business world is getting emotional

  08-01-2018 12:40 via theguardian.com
  Is empathy training another workplace fad, or can it really help companies succeed?When the chief executive of Microsoft writes a book about empathy, it’s no surprise that business leaders around the world pay attention. “It’s a value I have learned to deeply appreciate and is something I talk about a lot,” Satya Nadella said at an event to publicise his book, Hit Refresh. “I think of it as not just a nice-to-have, but core to the innovation agenda in the company.&r
  
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• Five renewable energy trends to watch in 2018

  08-01-2018 12:17 via theguardian.com
  Falling costs, Chinese dominance and competition in battery technology are some of the main developments to monitor in 2018It’s been a rollercoaster year for renewables. The price of solar and wind plummeted, China smashed its target for solar installations – but Donald Trump also withdrew the US from the Paris climate agreement. So what do the experts predict for 2018? Continue reading...
  
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• What should I go for in my divorce settlement?

  08-01-2018 12:11 via theguardian.com
  I’m in a dilemma as to whether to go for the house, which I would rent out and then use the income to buy another property Q I am hopefully divorcing in the new year and am in a dilemma as to what to have in the divorce settlement. We own our house, have no mortgage or other debts, and have savings and pensions and two grown-up children who don’t live at home. My dilemma is, do I go for the house which I would want to rent out and then use the income to buy another property? Can this
  
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• UK house prices falling for first time since June, says Halifax

  08-01-2018 10:11 via theguardian.com
  Squeeze on real wages and economic uncertainty are continuing to put potential house buyers off, says lenderUK house prices fell unexpectedly in December, their first fall in six months, according to Halifax.The average price of a home fell by 0.6% to £225,021 in December, the mortgage lender said. The annual growth rate declined to 2.7% in the three months to December from 3.9% in the previous three months. Continue reading...
  
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• UK factories optimistic for 2018 despite Brexit concerns, survey finds

  08-01-2018 08:29 via theguardian.com
  A majority of companies polled expect global demand and growth in export markets to sustain order books Britain’s manufacturers are more upbeat about the state of the global economy than at any time since 2014 and believe demand from overseas will sustain their businesses through another year of Brexit uncertainty, a survey has shown.The poll by the manufacturers’ organisation EEF and the insurance firm AIG found 40% of the companies questioned were planning for growth in 2018 while
  
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• Major retailers to reveal festive figures with M&S expected to struggle

  08-01-2018 08:29 via theguardian.com
  Tesco forecast to be among few winners when at least 20 businesses issue updates for underwhelming Christmas tradeAt least 20 retailers will reveal how they performed over the festive period this week, with Tesco expected to be one of the Christmas winners but Marks & Spencer continuing to struggle.Others due to update investors include Sainsbury’s, Morrisons , John Lewis, House of Fraser and fast-growing discounter B&M. With little sales growth to be found, it is not expected to b
  
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• New Look faces fresh blow as insurer cuts cover for suppliers

  08-01-2018 08:28 via theguardian.com
  The move is the latest setback for the struggling fashion retailer, whose credit rating was downgraded to junk status in DecemberNew Look is coming under fresh pressure after an insurer stopped selling cover against insolvency to its suppliers, in the latest sign of difficulties for retailers amid a squeeze on consumers’ spending power.The troubles for the high-street fashion chain come after a difficult Christmas for many leading retailers.Continue reading...
  
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• ‘Open banking’: radical shake-up, or a threat to your private data?

  08-01-2018 08:00 via theguardian.com
  Few people have heard of them, but new rules that come into effect next week could change the way we bankThis week sees the beginning of a quiet revolution in banking which some have championed as one of the greatest shake-ups in personal finance in years, while others have warned it could have serious implications for people’s private data.It’s the start of a new series of rules concerning “open banking”, where customers will be able to share their personal financial inf
  
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• My cellar is flooded, but as the damage mounts there’s no resolution in the pipeline

  08-01-2018 08:00 via theguardian.com
  It’s been pumped out again and again but Thames Water says it is not responsibleMy cellar has been flooding since early August last year when I discovered it was knee-deep in water. There had been heavy rain, and a structural engineer told me it was probably natural groundwater seepage. I hired a pump but it happened again and I pumped it out a second time.In October, I contacted Thames Water, and an engineer visited. He assured me my pipes were intact but there was a leak in the main supp
  
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• Rail disruption expected as RMT prepares for three days of strikes

  08-01-2018 06:00 via theguardian.com
  South Western passengers to be hardest hit as union calls for walkouts on Monday, Wednesday and Friday over role of guardsCommuters are facing a week of disruption as workers in five rail companies prepare for strike action over the role of train guards.Members of the Rail, Maritime and Transport union (RMT) will walk out on Monday, Wednesday and Friday in the first full week back at work following the festive break after last-ditch talks collapsed. Continue reading...
  
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• Government urged to ban nuisance calls and texts from claims firms

  08-01-2018 01:01 via theguardian.com
  Study finds UK consumers bombarded with 2.2bn calls and texts from pensions, PPI and insurance claims firms in 2017British consumers were bombarded with 2.2bn nuisance phone calls and texts from pensions, PPI and cash-for-crash claims firms last year, according to an analysis of Ofcom data. More than 40% of those calls and texts (nearly 900m) came from ambulance-chasing firms asking if the recipient had recently been involved in an accident or some other insurance-related matter, said Aviva, whi
  
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