Financial news

• Airbus incurs €1.3bn charge for delay in delivering military transport planes

  15-02-2018 20:12 via theguardian.com
  Aerospace and defence firm delivers profit despite losses on military aircraft project
  Airbus has taken a new €1.3bn (£1.1bn) charge on its troubled A400M military aircraft programme – taking its total losses on the project to €8bn.The charge was the outcome of talks with seven European Nato-member governments awaiting overdue deliveries. The project has faced numerous setbacks, including a fatal crash during a test flight which killed four crew in 2015. Continue reading...
  
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• Markets shrug off US inflation worries to make fresh gains

  15-02-2018 20:04 via theguardian.com
  Last week’s steep drop in equity prices is fading memory despite predictions of US interest rate hikesNew evidence of mounting US inflation has failed to derail the recovery from last week’s plunge in share prices, with global stock markets registering fresh gains.Last week’s steep drop in equity prices was a fading memory as Wall Street shrugged off concerns that mounting cost of living pressures could force the Federal Reserve, the US central bank, into a series of interest r
  
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• Standard Life Aberdeen hit by Lloyds axing £109bn asset deal

  15-02-2018 19:56 via theguardian.com
  SLA share price dips as bank serves notice to terminate deal in 12 months Standard Life Aberdeen has been served notice by Lloyds Banking Group and Scottish Widows on a £109bn asset management deal, further denting shares in the recently merged group. Clients have pulled billions of pounds in assets from SLA in the six months since Standard Life and Aberdeen Asset Management formed one of Britain’s biggest asset managers. Continue reading...
  
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• Virgin Money hires Irene Dorner to form female top team

  15-02-2018 19:28 via theguardian.com
  Move makes British bank the only FTSE 350-listed company with women in top two positionsVirgin Money has appointed the former HSBC executive Irene Dorner as chairwoman, creating the only female duo at the top of one of Britain’s FTSE 350-listed companies.Virgin Money had said in October it was in talks to hire Dorner, who will join Jayne-Anne Gadhia, the first female chief executive of a stock market-listed British bank. Continue reading...
  
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• For South Africa's new president the only way is up | Larry Elliott

  15-02-2018 19:11 via theguardian.com
  Jacob Zuma scandals dragged down the economy. Now Cyril Ramaphosa has the chance to unleash a regional superpowerTiming matters a lot in determining political success. Gordon Brown could hardly have become prime minister at a worse time because in the summer of 2007 the UK economy had been growing for 15 years, the financial crisis was just around the corner and the only way was down.
  For Cyril Ramaphosa, by contrast, the only way is up. The new South African president has taken over an economy
  
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• Stock markets rise as investors shrug off inflation worries - as it happened

  15-02-2018 18:54 via theguardian.com
  All the day’s economic and financial news, as shares recover from last week’s routLatest: US producer prices riseLunchtime: European markets in the greenPound at two-week high, but would Rees-Mogg weaken it?Markets in cheerier mood again
  Zuma’s resignation boosts South African stocks10.07pm GMT A late PS: Wall Street ended Thursday with fresh gains.The Dow Jones industrial average rose 306 points, or 1.2%, to end at 25,200. The S&P also gained 1.2%, while the Nasdaq finishe
  
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• HMRC wins tax case against BBC presenter

  15-02-2018 17:48 via theguardian.com
  Ruling at Royal Courts of Justice for former Look North host Christa Ackroyd could have impact on more BBC presentersA number of BBC presenters could be facing bills for thousands of pounds in backdated tax after HMRC won a key tribunal ruling against Christa Ackroyd, the former presenter of the corporation’s regional Look North programme.Ackroyd worked at the BBC on what is known as a personal service company contract, meaning she was self-employed and using a limited company instead of b
  
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• Laura Ashley issues fresh profit warning as furniture sales slump

  15-02-2018 17:31 via theguardian.com
  Weaker pound also blamed for steep fall in profits at fashion and home furnishings firmLaura Ashley has issued its third profit warning in 12 months, hit by adverse currency movements and a slump in demand for furniture and wallpaper in the UK.
  The home furnishings and womenswear company, which built its reputation on floral prints but now specialises in traditional English furnishings and has branched out into branded hotels and tearooms, reported a steep drop in pretax profits.Continue reading
  
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• Only the EU can break Facebook and Google's dominance | George Soros

  15-02-2018 16:31 via theguardian.com
  Social media giants have left the US government impotent – Europe must lead the wayThe current moment in world history is a painful one. Open societies are in crisis, and forms of dictatorships and mafia states, exemplified by Vladimir Putin’s Russia, are on the rise. In the United States, President Donald Trump would like to establish his own mafia-style state but cannot, because the constitution, other institutions, and a vibrant civil society won’t allow it.Not only is the s
  
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• McDonald's to cut cheeseburgers and chocolate milk from Happy Meal menu

  15-02-2018 16:10 via theguardian.com
  Restaurant chain wants to cut down on calories, fat and sugarHealth advocates have linked Happy Meal to childhood obesityMcDonald’s will soon banish cheeseburgers and chocolate milk from its Happy Meal menu in an effort to cut down on the calories, sodium, saturated fat and sugar that kids consume at its restaurants. Related: Cigarette companies don't sponsor the Olympics. Why does Coca-Cola? | Ian D Caterson and Mychelle FarmerContinue reading...
  
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• Can we really trust Google as judge, jury and executioner of online ads?

  15-02-2018 15:36 via theguardian.com
  With cries of undue influence over the industry body deciding which ads to ban, is new Chrome adblocking too self-serving?From today, users of Google Chrome, the most popular web browser in the world, will no longer see 12 types of online adverts which have been deemed to be “intrusive” by a group of advertising industry membersLeading that body, which examined 104 potential formats to determine which should be blocked and which should be allowed, is the world’s largest digital
  
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• Shoes, sweets, and soap: ONS reveals how teens spend their cash

  15-02-2018 14:02
  Clothes, school dinners and soft drinks top spending list for UK children, study finds
  Children aged 15 in the UK spend on average £25 a week mainly on clothes, shoes, school dinners and soft drinks, according to research by the Office for National Statistics.Expenditure among 15-year-olds is more than three times that of seven-year-olds, who spend £7.40.Continue reading...
  
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• Fifteen-year-olds spend an average of £25 a week

  15-02-2018 14:02
  Clothes, shoes, school dinners and soft drinks top spending list for UK children, finds ONS
  Children aged 15 in the UK spend on average £25 a week mainly on clothes, shoes, school dinners and soft drinks, according to research by the Office for National Statistics.Expenditure among 15-year-olds is more than three times that of seven-year-olds, who spend £7.40.Continue reading...
  
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• Social care allowances are confusing – the government must offer clarity

  15-02-2018 12:58
  The current system is convoluted. People need to know if they have to save for later-life care
  A new report details an expert panel’s solution to the care crisis: for national insurance to be replaced with a new, ringfenced tax dedicated to health and social care. It contends that few people would argue with reforming and raising tax, given the severe financial and capacity pressures on services. Related: Social care crisis needs a simple, sustainable, cross-party solution | Jane GoodlandC
  
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• Bitcoin is 'noxious poison', says Warren Buffett's investment chief

  15-02-2018 12:11 via theguardian.com
  Billionaire vice-chair of Berkshire Hathaway calls for crackdown on ‘asinine’ cryptocurrencyBitcoin is heading towards $10,000 again, despite comments from the US billionaire Charles Munger who described the digital currency as “noxious poison”.Munger, the vice-chairman of Warren Buffett’s investment firm Berkshire Hathaway, said he considered the bitcoin craze to be “totally asinine”. Continue reading...
  
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• Scottish plan to double free childcare faces risks, says watchdog

  15-02-2018 11:22
  Audit Scotland highlights gap between Scottish government’s and councils’ estimate of costsThe Scottish government’s ambition to double childcare hours by 2020 is facing “significant risks”, according to a spending watchdog. Nicola Surgeon made her flagship pledge to increase from 600 to 1,140 the hours available for all three- and four-year-olds and vulnerable two-year-olds in her first programme for government, in November 2014. Continue reading...
  
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• Bitcoin price LIVE: BTC nears $10k as Ukrainian 'poison ad' hacker group is exposed

  15-02-2018 10:19 via feedproxy.google.com
  BITCOIN is approaching the hugely symbolic $10,000 mark as the recovery from last week's low point gathers pace. Ethereum is approaching $1,000 mark and Ripple is at $1.15.
  
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• Pound LIVE: Sterling returns to 1.40 as markets resist surprising US inflation data

  15-02-2018 09:09 via feedproxy.google.com
  THE POUND has returned to the symbolic 1.4 mark against the Dollar after yesterday's surprisingly strong inflation data. However more US turmoil could follow job and production figures this afternoon.
  
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• Bitcoin mining harms search for ALIENS: UFO hunters blame cryptocurrency for GPU shortage

  15-02-2018 08:54 via feedproxy.google.com
  BITCOIN mining is taking a heavy toll on the teams of dedicated scientists scanning the universe for signs of intelligent life. Leading UFO hunters have now blasted the crypto craze as it has led to a severe shortage in available GPU cards.
  
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• Why won’t Travelodge honour my pre-booking?

  15-02-2018 08:00
  We reserved a room a week in advance but just before arriving we were told we were in another hotelI received a call at 9pm on the night of my planned stay at a Travelodge telling me the hotel I booked a week in advance was full and it would be transferring me to another miles from where I needed to be.I was offered no compensation and suspect they are doing this to fill up rooms in less popular areas.Continue reading...
  
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• Crypto news: Warren Buffett deputy wants 'STUPID Bitcoin destroyed' and demands CRACKDOWN

  15-02-2018 07:55 via feedproxy.google.com
  CRYPTOCURRENCIES should be “destroyed” by the US Government because they are a “poison”, a billionaire investor who was the deputy to Warren Buffett has declared.
  
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• Steelworkers let down by FCA and Pensions Regulator – MPs

  15-02-2018 07:01
  ‘Major mis-selling scandal’ under way as financial advisers ‘bamboozle’ ex-British Steel staffFormer British Steel workers have been “shamelessly bamboozled” by financial advisers into transferring their pensions and badly let down by regulators that should have better protected them, according to an influential parliamentary committee. Continue reading...
  
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• For Generation Rent, this housing crisis is far from over | Martha Gill

  15-02-2018 07:00
  Stamp duty changes saw off some buy-to-let competition, but it’s not enough for young people wanting a home of their ownIn the 1920s, there were those who had personal butlers and those who were personal butlers; in the 1950s, there were those who called it a napkin and those who told them to sod off; and, in the 2010s, there are those who own second homes they can rent out and those who do not.In recent years a new class has emerged: landlords. One in 30 adults in Britain is a landlord Co
  
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• Cryptocurrency latest: 'Unprecedented' Bitcoin legal battles BAFFLE top regulation lawyers

  15-02-2018 06:15 via feedproxy.google.com
  UNPRECEDENTED legal battles are set to take place in the UK after it was reported that divorce lawyers are struggling to come up with settlement agreements over cryptocurrencies.
  
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• Faulty appliances cause 60 UK house fires a week, Which? says

  15-02-2018 01:01
  Consumer group says government action to prevent fires falls ‘woefully short’Faulty appliances such as washing machines, tumble dryers and fridge freezers are causing more than 60 house fires a week in the UK – a figure which has stayed “stubbornly high” in recent years – according to a Which? investigation.Government action to remove potentially dangerous electrical white goods from homes is falling “woefully short”, the consumer group warns, as i
  
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