Financial news

• Bitcoin price WARNING: CEO says cryptocurrency has 'NOTHING to do with the real economy'

  01-02-2018 23:57 via feedproxy.google.com
  BITCOIN has come under fire from the CEO of Euronext as the financial expert claimed the cryptocurrency "has nothing to do with the real economy".
  
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• UK launches nationwide review of meat processing plants

  01-02-2018 20:25 via theguardian.com
  Renewed focus on food safety comes after ‘serious incidents’ at 2 Sisters and Russell HumeThe UK’s food regulators are launching nationwide review of all meat cutting plants in the wake of “serious incidents” at 2 Sisters Food Group and Russell Hume.The announcement comes days after the Food Standards Agency was criticised by a committee of MPs for failing to take “definite action” to improve food standards following a Guardian and ITV undercover investi
  
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• Bitcoin crisis: Nearly $50 billion wiped off cryptocurrency in WORST month

  01-02-2018 20:13 via feedproxy.google.com
  BITCOIN experienced a loss of nearly $50billion from its market capitalisation during January this year in one of its worst-performing months.
  
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• Melrose's offer for GKN lacks pizzazz – or a knockout price

  01-02-2018 20:08 via theguardian.com
  Firm doesn’t want to be seen as asset-stripper but blood and thunder aren’t the only things missing from its £7bn bidIn the old days of blood-and-thunder hostile bids, the unveiling of the offer document was a big moment. The bidder would formally throw its cards on the tables, hurl a few choice insults at the target’s management and generally enliven proceedings. Melrose’s £7bn offer for GKN is proving to be lower in energy. That is not just because takeover
  
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• Criminal landlords could lose all earnings after court ruling

  01-02-2018 19:36
  London council given right to use Proceeds of Crime Act against landlords who rented single house to 40 peopleCriminal landlords who rent out illegally dangerous homes will be forced to give up all their earnings, following a court ruling that could strengthen powers to tackle Britain’s worst housing.Lawyers for Brent council in north-west London have been granted the right to use the Proceeds of Crime Act against a family of landlords who earned hundreds of thousands of pounds by cramming
  
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• Bitcoin crisis: Cryptocurrency drops 11% to lowest price since November

  01-02-2018 19:35 via feedproxy.google.com
  BITCOIN dropped 11 percent today to its lowest price since November as a Facebook ban on cryptocurrency adverts and an increasing crackdown frightened investors.
  
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• Bitcoin's January fall wipes off $44bn in value

  01-02-2018 19:30 via theguardian.com
  US investigation into boom stokes fears of impending bust as cryptocurrency records steepest monthly slide in its historyBitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history. The slide extended further on Thursday after the Indian government said it would ban all cryptocurrency trading and Facebook announced a ban on digital currency adverts. Bitcoin fell by more than 10%, dropping below $9,000, marking a sharp reverse f
  
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• UK officials met Capita bosses to discuss its financial problems

  01-02-2018 19:22 via theguardian.com
  Minister says outsourcing firm is being monitored and is in stronger position than CarillionGovernment officials have held talks with executives from troubled outsourcing firm Capita to discuss its financial woes, but the Cabinet Office insisted it was not in danger of following rival Carillion into liquidation.Speaking in the House of Commons, Labour’s Rachel Reeves, who chairs the business select committee, accused ministers of being “muddled and complacent” in their response
  
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• Bitcoin price SHOCK: Crypto investor reveals how to buy bitcoin CHEAPER outside USA

  01-02-2018 19:01 via feedproxy.google.com
  BITCOIN can be obtained cheaper outside of the USA using certain exchange mechanisms, according to cryptocurrency investor Brian Kelly, of BK Capital Management.
  
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• Labour plans to make landowners sell to state for fraction of value

  01-02-2018 19:00
  Exclusive: party proposes raid on private land to cut cost of building new council housesLabour is considering forcing landowners to give up sites for a fraction of their current price in an effort to slash the cost of council house building.
  The proposal has been drawn up by John Healey, the shadow housing secretary, and would see a Jeremy Corbyn-led government change the law so landowners would have to sell sites to the state at knockdown prices. Continue reading...
  
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• Suspicions Adani altered lab report while appealing fine for Abbot Point coal spill

  01-02-2018 18:00 via theguardian.com
  Original report said to have showed more pollution flowed into sensitive Caley valley wetlands than company had allegedAdani submitted an altered laboratory report while appealing a fine for contamination of sensitive wetlands on the Queensland coast near the Great Barrier Reef, the Guardian understands.While appealing a $12,000 fine for spilling coal-laden water on to the beach at Abbot Point after Cyclone Debbie, Adani submitted a report detailing the nature of the spill. Continue reading...
  
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• Global demand propels eurozone factories into full throttle mode

  01-02-2018 18:00 via theguardian.com
  Orders, goods and jobs growing at record rate since the creation of the single currency Eurozone factories are boosting production at one of the fastest rates recorded since the launch of the single currency as the result of booming global demand and the pro-growth approach adopted by the European Central Bank.The latest snapshot of manufacturing in the 19-nation zone shows that orders, output and employment were all growing strongly last month. Continue reading...
  
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• Bitcoin price BOOST: Cryptocurrency to soar above $30,000 in 2018, according to analyst

  01-02-2018 17:46 via feedproxy.google.com
  BITCOIN has received a price boost after its recent turbulent period, with a financial analyst predicting it could jump up above $30,000 in value in 2018.
  
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• Europe's biggest power utility Enel REFUSES to power bitcoin mining

  01-02-2018 17:42 via feedproxy.google.com
  EUROPE's biggest power utility companies Enel has taken a stand against the energy-hungry industry of mining cryptocurrencies, saying it has "no interest whatsoever in selling power" for the purpose.
  
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• Bitcoin breakthrough: Australian airport reveals customers can use CRYPTOCURRENCIES to pay

  01-02-2018 17:17 via feedproxy.google.com
  ONE of Australia’s biggest airports has announced it will be accepting bitcoin and other cryptocurrencies.
  
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• UK factory growth hits seven-month low, but eurozone powers on - as it happened

  01-02-2018 17:09 via theguardian.com
  All the day’s economic and financial news, including a health check on the world’s manufacturing companiesLatest: MPs debate CapitaUK factory growth slowed last monthEurozone factory growth continuesChina’s factory growth at 13-month high
  Spanish manufacturing strong in January 4.09pm GMT Time for a recap.A flurry of manufacturing reports have shown that the global factory sector is in decent health. Related: UK officials met Capita bosses to discuss its financial problems Ther
  
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• Blockchain news: Why is India banning Bitcoin but embracing Blockchain?

  01-02-2018 17:08 via feedproxy.google.com
  BITCOIN’s future in India is looking increasingly uncertain after Finance Minister Arun Jaitley vowed to clamp down on the illegitimate use of virtual currencies while exploring the possibility of adopting blockchain technology. But why is India banning Bitcoin but embracing Blockchain?
  
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• SMEs are still ignoring dangers of payments fraud

  01-02-2018 16:57 via feedproxy.google.com
  PAYMENTS fraud? What payments fraud? A lot of SMEs appear to be seriously relaxed about the risks of being swindled and the consequences for their business.
  
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• Tory donor's role at corporate watchdog under scrutiny

  01-02-2018 16:55 via theguardian.com
  James Wates’ company has given £450,000 to the party and its board has only one womanTheresa May’s new corporate governance review will be chaired by a businessman whose family company has given £450,000 to the Conservatives and which has just one woman on its board, it has emerged.Labour questioned whether James Wates, the chair of Wates Group, was the right person to be put in charge of bringing in a voluntary code to help improve the behaviour of big private businesses
  
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• Shell doubles profits but faces multibillion-dollar Dutch quake bill

  01-02-2018 16:40 via theguardian.com
  Damage claims over tremors linked to Dutch gasfields clouds strong earnings for 2017Shell more than doubled its profits last year thanks to rising oil prices, but has admitted it faces a multibillion-dollar bill for several years to compensate householders affected by earthquakes linked to its gasfield in the Netherlands. The quake bill warning came as Shell reported strong earnings of $15.8bn for 2017, up 119% on 2016, on a current cost of supplies basis, the measure most closely watched. Conti
  
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• Cryptocurrency WARNING: Italy’s finance minister says blockchain ‘HARMFUL’

  01-02-2018 16:01 via feedproxy.google.com
  CRYPTOCURRENCY pressure continues to mount as Italy’s finance minister warns of the disastrous consequences that could arise should a market bubble “explode”.
  
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• Nestlé under fire for marketing claims on baby milk formulas

  01-02-2018 16:00 via theguardian.com
  Exclusive: Report finds Swiss multinational is violating advertising codes and misleading consumers with nutritional claims The Swiss multinational Nestlé has been accused of violating ethical marketing codes and manipulating customers with misleading nutritional claims about its baby milk formulas. A new report by the Changing Markets Foundation has found that Nestlé marketed its infant milk formulas as “closest to”, “inspired by” and “following the e
  
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• Capita takes market value blow following major overhaul

  01-02-2018 15:54 via feedproxy.google.com
  MORE than £1billion was wiped from Capita’s market value yesterday as its new boss launched a major overhaul of the business to shore up its finances.
  
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• Ex-BHS boss Dominic Chappell issued with £10m pension bill

  01-02-2018 15:49
  Regulator’s formal demand seeks to protect pensions of BHS fund’s 19,000 members The former BHS boss Dominic Chappell has been issued with a formal demand for about £10m relating to the pension scheme of the collapsed department store chain.The Pensions Regulator (TPR) officially notified Chappell last month that he would be expected to pay the sum. Continue reading...
  
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• Bidding on the Ritz: Paris hotel auctions furniture – in pictures

  01-02-2018 15:44 via theguardian.com
  The Ritz hotel in Paris is auctioning off 10,000 pieces of furniture and decorative objects. The hotel, founded in 1898, reopened two years ago after four years of renovation. The hotel’s first bathtub is among the items being sold by auction house Artcurial between 17 and 21 April Continue reading...
  
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• UK hit peak wealth position on eve of Brexit vote - ONS

  01-02-2018 15:17 via theguardian.com
  High levels of inequality persist with top 10% owning almost half the total wealth, show figuresBritain on the eve of the EU referendum reached its wealthiest position in modern history, according to figures showing the vast gulf between the richest 1% and the poorest in society.Total net household wealth – including property, cash savings and shares, pensions and possessions such as cars and antiques – increased by 15% to £12.8tn in the two-year period ending in June 2016, acc
  
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• Almost 750,000 people missed tax return deadline, says HMRC

  01-02-2018 15:02
  More than 10 million submitted self-assessment on time, but others now run risk of £100 fineAlmost 750,000 people missed the midnight 31 January deadline for filing their tax return and now run the risk of a £100 fine.HM Revenue & Customs said almost 10.7 million taxpayers had submitted their self-assessment return before the deadline, with just over 30,000 people filing online in the final hour, between 11pm and 11.59pm.Continue reading...
  
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• Morrisons to cut 1,500 management roles

  01-02-2018 14:15 via theguardian.com
  Supermarket to have fewer managers and more staff on shop floor and tills to save costsMorrisons is to axe 1,500 middle-management roles in stores as part of plans to cut costs and put more staff on the shop floor and tills. The UK’s fourth largest supermarket chain said it wanted to create 1,700 jobs in store in an effort to improve customer service.Continue reading...
  
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• UK officials met Capita bosses to discuss its financial problems - The Guardian

  01-02-2018 13:10
  The Guardian
  UK officials met Capita bosses to discuss its financial problems
  The Guardian
  Government officials have held talks with executives from troubled outsourcing firm Capita to discuss its financial woes, but the Cabinet Office insisted it was not in danger of following rival Carillion into liquidation. Guardian Today: the headlines ...en meer »
  
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• Why does PayPal’s ‘seller protection’ fail to protect?

  01-02-2018 12:44
  If a buyer claims an item is not as described there’s no cover for the sellerI sold four certified gold coins on eBay to a buyer in Canada for £4,300. A month later, the buyer claimed the coins were “not as advertised”. I asked for photos of the packaging and contents but received no reply. After another two months I received five silver coins from the buyer with no accompanying message.Continue reading...
  
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• Privatisation is poisoning the very air we breathe | Polly Toynbee

  01-02-2018 12:43 via theguardian.com
  Pointless competition and illusory ‘choice’ have choked our streets and literally undermined our citiesThe second month of the year begins with London having already reached its legal air pollution limit for the whole of 2018. The city’s limit of 18 breaches of air quality regulations was used up in January.Mostly invisible, this silent killer causes an estimated 40,000 early deaths a year in Britain. That’s about 25 times more than roads deaths. Imagine if there were tha
  
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• Janet Yellen deserves more praise for the economy than Donald Trump | Jill Abramson

  01-02-2018 12:00 via theguardian.com
  She is perhaps the most successful Federal Reserve chair in modern history and the first woman to hold the job, yet her contributions are ignoredThe strength of the economy was the keystone of President Trump’s State of the Union speech. There was no need to exaggerate how good things are – low inflation, lower unemployment, soaring stock market. Nonetheless, as usual, he had to inflate his boastful claims with hot air. There were so many encomiums for various Americans in the presid
  
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• Elon Musk sells all 20,000 Boring Company 'flamethrowers'

  01-02-2018 11:58 via theguardian.com
  Stunt generates $10m for billionaire’s personal hobby despite warnings from Home Office and US politiciansElon Musk’s fire sale of his Boring Company “flamethrowers” raised $10m, selling out all 20,000 units, despite warnings from the Home Office and US politicians.
  The tech billionaire chief executive of Tesla, Space X and the Boring Company, tweeted on Thursday morning that all the $500 flamethrowers were sold out and that “all flamethrowers will ship with a compl
  
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• BT to hire 3,000 engineers in drive to fill broadband 'not-spots'

  01-02-2018 10:39 via theguardian.com
  BT Openreach push to provide ultrafast service to 1m more homes and firms than plannedBT is to create 3,000 engineering jobs this year as part of a plan to speed up the rollout of fibre broadband and eliminate “not-spots” in cities and suburban areas.
  Kicking off a drive to upgrade the UK to next-generation gigabit speed internet, BT said it will recruit and train the engineers in order to reach its new target of 3m homes and businesses by 2020. It had previously committed to reachin
  
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• Surprise rise in UK house prices as lack of homes for sale fuels lift

  01-02-2018 09:50
  Average price now at £211,756 but experts say overall trend is for growth to slowUK house prices rose at the fastest annual pace in 10 months in January, bolstered by a lack of new homes coming on to the market, according to Nationwide.The average price of a home reached £211,756 last month, according to the building society’s monthly survey. Property values were up 0.6% from the month before, the same monthly gain as in December, but the annual growth rate picked up to 3.2% fr
  
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• Robots will take our jobs. We’d better plan now, before it’s too late | Larry Elliott

  01-02-2018 07:00 via theguardian.com
  The opening of the Amazon Go store in Seattle brings us one step closer to the end of work as we know itA new sort of convenience store opened in the basement of the headquarters of Amazon in Seattle in January. Customers walk in, scan their phones, pick what they want off the shelves and walk out again. At Amazon Go there are no checkouts and no cashiers. Instead, it is what the tech giant calls “just walk out” shopping, made possible by a new generation of machines that can sense w
  
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• Michael Gove warns water companies over 'concerning' behaviour

  01-02-2018 07:00 via theguardian.com
  Environment secretary signals crackdown on executive pay and offshore financial arrangementsMichael Gove has called for a crackdown on excessive executive pay and offshore financial arrangements within water companies, warning that concern about corporate behaviour could grow if customers face a hosepipe ban later this year.In a letter to Jonson Cox, chairman of Ofwat, the environment secretary said the government was prepared to hand more power to the industry regulator to help it tackle such p
  
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