Financial news

• Trump tariffs: IMF pleads against trade war as EU threatens to retaliate - as it happened

  02-03-2018 22:56 via theguardian.com
  Donald Trump’s plan to impose tariffs on steel and aluminium imports have caused international criticism, and sent markets slidingEurope threatens retaliation on motorcycles and bourbonEx-Trump adviser sold $31m in shares days before tariff announcement
  Business Today – sign up for our daily email 9.56pm GMT And finally, here’s our latest news story on the growing fears of a global trade war:Europe has warned Donald Trump to expect retaliatory strikes against American icons lik
  
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• Pound plummets against euro and as May outlines future EU ties in Brexit speech

  02-03-2018 21:04 via feedproxy.google.com
  THE pound fell against the euro following Theresa May’s landmark Brexit speech earlier today in which she laid out her plans for the future relationship between the UK and the European Union.
  
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• European Central Bank publishes fresh guidelines for eurozone banks after four CRASH

  02-03-2018 20:22 via feedproxy.google.com
  THE European Central Bank has published new guidelines which define how eurozone banks should calculate how much capital and cash they should hold after four euro zone banks crashed in the past year.
  
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• Ex-Trump adviser sold $31m in shares days before president announced steel tariffs

  02-03-2018 18:39 via theguardian.com
  Carl Icahn sold $31.3m of shares in a company dependent on steel imports days before the commerce department mooted stiff tariffs on importsTrump trade tariffs – business liveCarl Icahn, a former special adviser to Donald Trump, sold $31.3m of shares in a company heavily dependent on steel imports last week, shortly before Trump’s announcement of new tariffs sent its shares plummeting.Icahn, a billionaire investor who was a major Trump supporter, started selling shares in the crane a
  
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• 2 Sisters guilty of poor hygiene at poultry plants, FSA finds

  02-03-2018 18:11 via theguardian.com
  FSA report, following Guardian and ITV undercover investigation, finds evidence of bad practice but not ‘widespread systematic failures’The 2 Sisters Food Group at the centre of a meat factory scandal was guilty of regulatory failures and poor hygiene at its poultry plants, according to a report by the Food Standards Agency.The FSA inspected sites operated by 2 Sisters, one of the UK’s largest chicken suppliers, following a Guardian and ITV undercover investigation at the firm&
  
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• Elon Musk to open Tesla R&D plant in Greece

  02-03-2018 17:52 via theguardian.com
  Billionaire entrepreneur’s electric car company to set up engineering facility in AthensElon Musk may have plans to colonise Mars but back on planet Earth he is extending his reach to Athens, by opening an engineering facility called Tesla Greece. Musk’s electric car business is an unsung success story for the Greek diaspora, with three of Tesla’s top designers boasting degrees from the National Technical University of Athens. Tesla’s plans for the country have such &ldqu
  
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• Let’s move to Exeter, Devon: a city whose time has finally come

  02-03-2018 17:30 via theguardian.com
  What gifts it has: beaches, hills, wilderness, astonishing food and hobbity old pubs, medieval gothic townhouses, proper coffee at last!What’s going for it? Exeter’s had a rum old 75 years. First it was the Nazis, raining bombs. Then the town planners and property developers, rebuilding it in the most magnolia of modernisms, unwonking its wonky lines. The next misfortune arrived in the avuncular guise of Bill Bryson who, in his 1995 bestseller Notes From A Small Island, damned Exeter
  
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• Is Spotify really worth $20bn?

  02-03-2018 16:53 via theguardian.com
  Music service will soon have its IPO and investors think it can be as big as Netflix. Are they right?When Spotify lists on the New York Stock Exchange in the coming weeks the loss-making music streaming service is likely to be valued at more than $20bn (£15bn): such is the faith of investors in its charismatic Swedish founder, Daniel Ek. Ek, they believe, can build Europe’s answer to Netflix – a global cultural behemoth that can take on industry incumbents and the big four tech
  
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• Mothercare in rescue talks with banks as UK retail crisis spreads

  02-03-2018 16:45 via theguardian.com
  Chain at risk of failing loans after dismal trading as Sports Direct dictates terms to Debenhams The high street crisis spread on Friday as Mothercare said it was in talks with its banks, and Sports Direct increased its stake in another struggling retailer, Debenhams.In the wake of Carpetright’s profit warning on Thursday, and the collapse of Toys R Us and Maplin earlier this week, Mothercare became the latest retailer to reveal it was in financial straits as poor trading put it at risk of
  
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• Trade war will ERUPT at Trump’s tariffs - ‘Expect EU protectionism PLUS PLUS PLUS’

  02-03-2018 16:15 via feedproxy.google.com
  PRESIDENT Donald Trump wiped one percent from the value of the UK’s blue clip companies today when he tweeted his support for controversial new trade tariffs of 25 percent on all steel and 10 percent on aluminium imports.
  
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• Bitcoin faces regulatory crackdown, Bank of England warns

  02-03-2018 15:27 via theguardian.com
  Cryptocurrencies inherently risky and fail most basic function as money, says Mark CarneyThe Bank of England has warned that bitcoin faces a regulatory crackdown, warning that “inherently risky” cryptocurrencies are failing to fulfil their most basic function as money. Mark Carney, the Bank’s governor, used a speech in London on Friday to attack a situation of “anarchy” in the trading of cryptocurrencies, with the market having grown rapidly on unregulated exchanges
  
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• Trump tweet sends Dow futures DOWN 300 points as EU trade war looms

  02-03-2018 14:25 via feedproxy.google.com
  THE DOW Jones US stock futures index fell sharply on Friday as Wall Street braced for massive losses after President Trump tweeted about 25 percent tariffs on steel and 10 percent on aluminum, sparking a price plunge across Europe and Asia.
  
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• Bitcoin WARNING: BoE boss says bitcoin attracts 'FOOLS' as he warns regulation is IMMINENT

  02-03-2018 14:02 via feedproxy.google.com
  BITCOIN is “not efficient” and does not do what it is supposed to do, Bank of England boss Mark Carney has said following a speech in which he called for a crackdown on cryptocurrencies after branding them a “failure”.
  
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• Toys R Us slashes prices as closing-down sale begins

  02-03-2018 12:36 via theguardian.com
  Retail chain where 3,200 UK staff face redundancy is due to start first wave of store closuresToys R Us has knocked 25% off the price of toys on its shelves as administrators launch a closing-down sale at the retail chain.
  The firm entered administration on Wednesday after the search for a buyer failed. It is being wound down by the restructuring company Moorfields, which said the first round of store closures would begin in the coming days. Around 3,200 staff face redundancy following the colla
  
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• Diane Abbott savages bitcoin a ‘just a gigantic ponzi scheme funding ‘terror’

  02-03-2018 12:35 via feedproxy.google.com
  DIANE Abbott has blasted bitcoin as a "gigantic ponzi scheme" commonly used for the funding of terrorism and promised Labour would regulate cryptocurrencies if elected.
  
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• E.ON hikes bills for 1m customers on coldest spring day on record

  02-03-2018 11:57 via theguardian.com
  Big-six power firm quietly removes discounts on dual-fuel and paperless tariffsAround a million households face higher bills for gas and electricity after the big-six power firm E.ON quietly increased prices on the coldest spring day on record.Comparison sites and consumer groups described the move, expected to be the first of a series of price increases from energy providers, as devastating news for hard-pressed households. The average annual increase will be £22, but one in four househol
  
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• Pound V euro: GBP exchange rate declines as US metal tariffs threatens UK steel jobs

  02-03-2018 11:47 via feedproxy.google.com
  THE pound to euro exchange rate has been underwhelming today, with GBP declining in the pairing on widespread concerns over the future of the UK steel industry. These concerns have been brought on by the actions of US President Donald Trump.
  
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• Carney says bitcoin has FAILED but critics say he's just PROVED how big cryptocurrency is

  02-03-2018 11:16 via feedproxy.google.com
  BANK of England Governor Mark Carney has launched a scathing attack on cryptocurrencies and demanded they be held to the "same standards as the rest of the financial system".
  
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• It took all my energy to get EDF to install a meter for my flat

  02-03-2018 08:00 via theguardian.com
  There was only one supplying two flats and I needed my ownI bought my flat in 2016 in a building that had been newly converted into two flats. The developer’s solicitor confirmed in writing that each of the flats had its own electricity account. However, when I moved in, I discovered a single meter covers the two properties and the communal areas. I agreed with the other flat owner that we would split the bills until we get separate meters. However, he now says he won’t pay his half
  
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• Richest UK households 'should pay more to fund clean energy'

  02-03-2018 01:01 via theguardian.com
  Government-funded researchers urge change in way clean energy is funded to reduce burden on poorest householdsThe richest households should pay £410 a year more towards supporting energy subsidies for wind farms, solar rooftops and home insulation schemes, government-funded researchers have urged.The UK Energy Research Centre (Ukerc) said that shifting environmental and social levies off electricity bills and instead loading them on to general taxation would reduce the cost of energy for m
  
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• Guy Hands emerges as bidder in Network Rail's property sell-off

  02-03-2018 00:18 via theguardian.com
  Sale will leave ‘gaping hole’ in rail infrastructure budget, say dismayed campaigners Private equity firms, including Guy Hands’ Terra Firma, have emerged as contenders to take over Network Rail’s commercial property business, fuelling further dismay over the forced sale of assets to fund the budget shortfall. The US investment giant Blackstone is understood to be another bidder for the rail property arm, which includes about 5,500 premises across England and Wales and is
  
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