Financial news

• Vice-chancellors fear for financial outlook of UK higher education - The Guardian

  31-01-2018 21:24
  The Guardian
  Vice-chancellors fear for financial outlook of UK higher education
  The Guardian
  The government wants a review of higher education funding in England, and Theresa May is said to favour allowing universities to charge variable fees. Photograph: Alamy Stock Photo. Vice-chancellors are increasingly fearful about the financial outlook ...
  
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• Capita: the writing was on the wall, but some didn't see it

  31-01-2018 19:29 via theguardian.com
  The spectacular collapse of Carillion failed to break the spell big names hold over the CityExperts have long been flagging up the ailing health of outsourcing firms, which make their money by running services for central and local government as well as private companies that are trying to cut costs.The recent collapse of Carillion, which had contracts with the government to provide services such as NHS cleaning, school dinners and prison maintenance, has intensified the spotlight on the sector.
  
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• Capita shares hit 15-year low after shock profits warning - as it happened

  31-01-2018 18:43 via theguardian.com
  Major UK outsourcing group stuns City with profits warning, as new CEO admits Capita is too complex and freezes its shareholder dividendShares down 47.5% at 15-year lowUK govt: Capita is no CarillionNewsflash: Capita profits warning
  New CEO says company must changeCapita wants to raise £700m from shareholdersWorries over £381m pensions deficitLabour: Privatisation is failing
  Capita’s major government contracts 5.43pm GMT Time for a recap.Just two weeks after the collapse of Car
  
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• EU rejects Brexit trade deal for UK financial services sector - Financial Times

  31-01-2018 17:41
  Financial Times
  EU rejects Brexit trade deal for UK financial services sector
  Financial Times
  EU Brexit negotiators have set out a tough line on financial services, ruling out an ambitious trade deal for the lucrative sector and arguing that Europe would benefit from a smaller City of London, according to confidential discussions among the ...
  EU rejects Brexit plan for banks proposed by UK financial industryIrish Times
  EU bosses REJECT London's calls for trade deal on financial services after
  
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• Have we reached peak Costa Coffee?

  31-01-2018 16:16 via theguardian.com
  The high-street chain has dominated the UK’s £9.6bn coffee market for years – but sales fell last year for the first time. Does competition from independents mean trouble is brewing?It was voted the nation’s favourite coffee shop for the eighth year running in 2017 and this week announced its latest branch: on the cobbles of Coronation Street in a groundbreaking product placement deal. Yet earlier this month, Costa Coffee announced that its sales dipped by 1.5% in the thi
  
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• Welcome to Port Talbot – the 'honeypot for scammers'

  31-01-2018 16:12 via theguardian.com
  Fears grow over fraudsters targeting Tata Steel workers with financial advice over pension scheme options Tip off money paid in return for names, security guards throwing sharply dressed advisers out of the local shopping centre, and large sums being siphoned out of steelworkers’ pension pots: such subjects are the talk of the town in Port Talbot.The south Wales town has been inundated with financial advisers touting for business since Tata Steel, which owns the giant steelworks in Port Ta
  
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• M&S store closures put nearly 500 jobs at risk

  31-01-2018 12:45 via theguardian.com
  High street chain shuts 14 stores in drive to cut costs and boost online sales Marks & Spencer has confirmed plans to close up to 14 stores, putting nearly 500 jobs at risk in what it said were “vital” changes for its future.The six stores to close are in Birkenhead, Bournemouth, Durham, Fforestfach in Swansea, Putney in south-west London and Redditch. They will shut by the end of April. M&S said all staff in those stores would be moving to other nearby branches. Continue rea
  
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• Mortgage lender raises the roof over leasehold solar panels

  31-01-2018 11:36
  Our buyer’s preferred lender won’t consider them for a mortgageWe bought a house in 2010 and had solar panels installed on a leasehold basis. We want to sell, but the buyer’s preferred lender won’t lend on properties with leasehold panels.We have tried to buy out the panels, as per a clause in the lease. It states that we have to compensate the company for the loss of their “feed-in tariff” – we know this will be around £20,000.Continue reading...
  
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• Capita: more than £1bn wiped off value of UK government contractor

  31-01-2018 10:23 via theguardian.com
  Grim state of outsourcing firm’s financial position emerges two weeks after collapse of CarillionCapita profits warning – as it happenedMore than £1bn was wiped off the stock market value of the government contractor Capita on Wednesday, sparking fears of job losses and forcing Downing Street to play down the threat of a collapse echoing the demise of rival Carillion.Capita, whose major contracts range from collecting the BBC licence fee to electronic tagging of prisoners, saw
  
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• Six essential resolutions for business owners to embrace in 2018

  31-01-2018 10:22 via theguardian.com
  In the first few months of the year we try to enact new resolutions and seek personal improvement. But it’s also a good time to extend such commitments to your startup, tooEvery January, once we’ve polished off the leftovers and taken out the mountain of recycling, we get the symbolic opportunity to start afresh. We make plans, resolve to quit bad habits and promise to become our best selves. According to a ComRes poll [pdf], the most common resolutions are health-related – to
  
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• Do I need a buy-to-let mortgage to get a flat with tenants still there?

  31-01-2018 08:00
  The owner has agreed a new 12-month lease on the property and I would like to live in it Q I want to buy a flat, and I am a first- time buyer. The owner put the property on the market in October, but has agreed a new 12-month lease with his tenants, so the tenancy won’t expire until December 2018.I want to buy this flat to live in, but am not sure if, because there are tenants living there, I would have to get a buy-to-let mortgage or my own residential one. Can you help? NG Continue readi
  
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