Financial news

• May to set timetable to reveal foreign owners of UK property

  17-01-2018 22:32
  Pressure from Tory peers leads PM to promise draft legislation on register of beneficial owners by summerTheresa May will set out a timetable to break the secrecy surrounding the foreign ownership of British property worth billions after facing a House of Lords defeat at the hands of two Conservative peers.Lord Faulks, a former Tory justice minister, and Lord Hodgson have been calling on the government to establish a register exposing the beneficial owners of overseas companies and legal entitie
  
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• Four lessons the Carillion crisis can teach business, government and us | Larry Elliott

  17-01-2018 19:40 via theguardian.com
  Even under a Corbyn cabinet, there would still be a role for the private sector in infrastructure projects – but there is a pressing need to rethink itCarillion’s collapse was capitalism in action. Profits are the reward for taking risks, and sometimes the risks materialise. Carillion’s problem was not that its profits were too high, but that they were too low when things started to go wrong. In a free-market system, it’s that simple.Except that it isn’t quite that
  
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• Tesco delays Clubcard changes after customer backlash

  17-01-2018 19:26
  Grocer postpones reward scheme revamp until June after outcry over reduced value of vouchersTesco has delayed changes to its Clubcard rewards scheme after a backlash from customers who objected to it reducing the value of vouchers without warning.The UK’s largest retailer said on Wednesday it had listened to the feedback and would postpone the introduction of the changes until 10 June.Continue reading...
  
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• Carillion crisis: Most private customers to keep paying staff; director bonuses stopped - as it happened

  17-01-2018 19:22 via theguardian.com
  Official Receiver says vast majority of companies who used Carillion’s services want to keep paying ‘in the interim’ 90% of Carillion’s private customers to keep paying staffPolitics Live: May and Corbyn clash over CarillionInterserve denies being in financial distressSub-contractors are in a ‘very precarious position’
  Carillion job loss fears mount
  Adonis: It’s a bit like Lehman Brothers...6.22pm GMT Another day of developments following Carillion&rsquo
  
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• M&S to shut London distribution centre, putting 380 jobs at risk

  17-01-2018 19:00 via theguardian.com
  Retailer to close Neasden site after tough Christmas but also reveals plans for new warehouse in HertfordshireMarks & Spencer is closing its London distribution centre, putting 380 jobs at risk, after disappointing Christmas trading figures.The move, part of the chief executive Steve Rowe’s five-year turnaround plan, will see the high street retailer exit its Neasden site in the north of the capital and transfer the work to other sites. Continue reading...
  
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• Payday loan rules undergo review by agency head supported by lenders

  17-01-2018 18:03 via theguardian.com
  Mick Mulvaney received $31,700 in contributions from the payday loan industry in 2016 and now plans to revisit lending rulesMick Mulvaney, the head of the Consumer Financial Protection Bureau, took $31,700 in contributions from payday loan companies in 2016 and is now reviewing rules aimed at protecting consumers from harmful lenders. Under Mulvaney the bureau will review payday lending rules introduced at the end of the Obama administration that could have significantly curtailed the size of th
  
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• Interserve is not the next Carillion, says UK government

  17-01-2018 11:35 via theguardian.com
  Cabinet Office forced to clarify after media report that it was setting up a team to monitor the outsourcing firm The outsourcing firm Interserve is not in a similar position to the collapsed construction and services company Carillion, the government has insisted.It followed a report in the Financial Times that said the Cabinet Office had set up a team of officials to monitor the company, following concerns over its financial health. Interserve shares initially tumbled 15% after the report, bef
  
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• Ripple price LIVE: XRP suffers $32BILLION loss in market share as price falls below $1

  17-01-2018 09:11 via feedproxy.google.com
  RIPPLE prices are falling amid fears of an imminent trading ban in South Korea with the cryptocurrency losing more than $32billion from its market cap since Saturday. Here is the latest price news and live updates on Ripple, bitcoin and Ethereum.
  
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• Bitcoin price WARNING: 'Only invest if you're ready to LOSE money!' Expert's SHOCK claim

  17-01-2018 09:05 via feedproxy.google.com
  BITCOIN investments are only worth the risk if you have money you are prepared to lose, warned banking expert Ben Hung.
  
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• Pound euro exchange rate update: Sterling has BROKEN OUT and will ROCKET in 2018

  17-01-2018 09:03 via feedproxy.google.com
  The days of the pound’s Brexit slump has turned, leading to a former Treasury insider to proclaim sterling has “broken out” and will rocket in 2018.
  
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• Bitcoin price WARNING: Banker unleashes cryptocurrency criticism – 'a pyramid scheme'

  17-01-2018 09:03 via feedproxy.google.com
  THE BITCOIN price has been heavily criticised, with former Wells Fargo chairman and CEO Dick Kovacevich declaring he believes bitcoin is a scam and a “pyramid scheme” amid a continuing demand for the cryptocurrency.
  
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• Ethereum price LIVE: Ethereum drops to BELOW $1,000 as China chaos continues

  17-01-2018 08:41 via feedproxy.google.com
  ETHEREUM has fallen bellow the $1,000 mark as regulatory rumblings in China and South Korea sent the price falling. However, Ethereum is expected to recover with the underlying technology seen as more robust than its rivals.
  
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• Bitcoin price LIVE: Bitcoin crashes AGAIN as regulation fears see price fall to $11k

  17-01-2018 08:17 via feedproxy.google.com
  BITCOIN is looking increasingly vulnerable as regulatory rumblings in China, South Korea and the US cause prices to drop. However many crypto analysts maintain that they've seen it all before and bitcoin will bounce back.
  
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• We’re owed £26,500 by SSE, but can’t get it to pay up

  17-01-2018 08:00
  It’s compensation we won 10 months ago for a transformer in our garden – why is the electricity company dragging its feet?Two years ago, after reading in the Guardian about compensation for electricity power lines crossing private land, I applied in respect of an SSE transformer in my garden. The firm that handled my claim negotiated £26,500, which I accepted.That was 10 months ago. Since then, solicitors handling the legal “deed of easement” have been unable to obt
  
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• 'Mass cryptocurrency CONFUSION' threatens South Korea Presidential approval rating CRASH

  17-01-2018 04:08 via feedproxy.google.com
  CRYPTOCURRENCIES are causing mass “confusion” across South Korea as the President desperately tried to scramble a “consistent response” to the recent shocking market developments during a cabinet meeting on Tuesday.
  
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• Cryptocurrency FREE FALL: Bitcoin crashes 28% & Ethereum plummets 30% amid shock crackdown

  17-01-2018 01:35 via feedproxy.google.com
  CRYPTOCURRENCIES were in free fall yesterday as news of China and South Korea’s crackdown sees investors fleeing major digital coins, it has been reported.
  
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• Retirement shock: Seven in 10 Britons have not planned for life after work

  17-01-2018 01:01 via feedproxy.google.com
  SEVENTY-SEVEN per cent Britons have no idea why they will do when they retire or how they will cope financially.
  
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• End of cryptocurrencies: Bitcoin, Ripple and Ethereum PLUMMET amid fears of collapse

  17-01-2018 00:14 via feedproxy.google.com
  ALL three major cryptocurrencies bitcoin, Ethereum and Ripple have plummeted in value amid fears of a collapse as the top 10 digital currencies lose more than $100billion following attempts by China and South Korea to clamp down on the digital currencies.
  
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