Financial news

• GKN’s £4.4bn Dana merger is a blow for Melrose bid

  09-03-2018 23:17 via feedproxy.google.com
  GKN struck a $6.1billion deal to merge its automotive business with American car parts maker Dana, yesterday.The FTSE 100 engineer is fighting to fend off a £7.4billion hostile takeover by industrial turnaround specialist Melrose.
  
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• Empire strikes back: why former colonies don't need Britain after Brexit | Griffith Review

  09-03-2018 22:34 via theguardian.com
  British politics and culture feel nostalgic about the Commonwealth and hope to rekindle the old relationship. But the reality is not so simpleThe countdown to leave the European Union began in the British summer of 2016, but nobody in the country seemed to know in which direction they were headed. Those who voted to leave don’t know what kind of future they would like; those who voted to stay don’t know what they can do to stop the process they are certain will create only misery. Br
  
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• Cryptocurrency news: What is PacCoin? What happened on Coinmarketcap? 

  09-03-2018 20:51 via feedproxy.google.com
  A CRYPTOCURRENCY called PacCoin pushed Ripple’s XRP to third position on CoinMarketCap momentarily on Friday, following an error in listings on the market platform.
  
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• Ripple Managing Director reveals multinational firm who could be Ripple's next customer

  09-03-2018 20:27 via feedproxy.google.com
  RIPPLE’S Managing Director Danny Aranda has revealed the cryptocurrency firm could work with multinational finance giant Western Union at some point in the future.
  
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• Barbara Judge resigns from Institute of Directors amid racism claims

  09-03-2018 19:33 via theguardian.com
  Boardroom crisis deepens over allegations that lobby group failed to properly investigate claims against chairThe IoD is worth saving, but do it quickly
  The crisis at the Institute of Directors has intensified with the resignation of its chair, Barbara Judge, and two of its most senior directors amid claims the business lobby group failed to conduct a fair investigation into allegations Judge was a bully who made racist comments about staff.Lady Judge, 71, who is facing 41 allegations of inappro
  
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• Ripple cross-border takeover: Cryptocurrency giant plotting worldwide transaction takeover

  09-03-2018 19:17 via feedproxy.google.com
  RIPPLE Managing Director Danny Aranda revealed the cryptocurrency is plotting a worldwide cross-border takeover in a bid to stand out from its rival digital currencies and make worldwide payments easier for “real customers with real problems”.
  
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• GKN agrees $6.1bn merger with Dana to repel Melrose bid

  09-03-2018 19:14 via theguardian.com
  UK engineering firm reveals automotive tie-up with US firm in blow to hostile suitorThe UK engineering company GKN has struck a $6.1bn (£4.4bn) deal to merge its automotive business with the US firm Dana in an attempt to fend off a hostile takeover by Melrose. GKN said on Friday it had agreed to combine its Driveline division with the Ohio-based maker of axles and driveshafts in a deal giving GKN shareholders a 47.25% stake in the enlarged, US-listed group.Continue reading...
  
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• Economist Paul Johnson: ‘We are nowhere near out of austerity'

  09-03-2018 18:19 via theguardian.com
  As the man relied on to make sense of the numbers in the chancellor’s spring statement, the IFS director warns that cuts have taken Britain to crunch point – and that Brexit will make it worseWhen the chancellor Philip Hammond sits down on Tuesday after delivering his first spring statement – the streamlined replacement for what we used to call the budget – one man will be greatly in demand, popping up on every media outlet to tell us what the figures on borrowing levels
  
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• UK moves closer to signing Typhoon jet deal with Saudis

  09-03-2018 18:07 via theguardian.com
  Proposed multibillion-pound deal with BAE Systems to buy 48 jets denounced by campaignersBritain’s biggest arms manufacturer, BAE Systems, has moved towards completing an order worth billions of pounds from Saudi Arabia for the purchase of 48 Typhoon fighter jets.The announcement came at the end of a three-day visit to the UK by the de facto ruler of Saudi Arabia, crown prince Mohammed bin Salman. Although the order could help save jobs, the proposed contract was immediately denounced by a
  
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• Wine prices to rise as bad weather brings worst harvest for 50 years

  09-03-2018 17:35 via theguardian.com
  Global production slumps to lowest level since 1961 as major growers hit by freakish weatherIt’s the kind of bad news best served with a stiff drink: the price of standard supermarket wines such as prosecco and pinot grigio could rise by up to 30% this year as the impact of 2017’s disastrous harvest is felt on the high street.Global wine production slumped to its lowest level in more than 50 years in 2017 after vines in the world’s top three producers – France, Spain and
  
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• ‘Slow payers’ and bad broadband pose bigger threat to British business than Brexit

  09-03-2018 16:28 via feedproxy.google.com
  BREXIT is not as important as Britain’s business "fundamentals" according to the highly-influential British Chambers of Commerce who have compelled the Government to concrete on growth and not just the terms on which the UK leaves the EU.
  
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• UK production soars to highest output figure for more than a year - while Germany’s falls

  09-03-2018 16:12 via feedproxy.google.com
  UK INDUSTRIAL production soared to its largest monthly increase in more than a year, while German industrial output fell unexpectedly for the second month in a row.
  
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• Litecoin price drop: Why has Litecoin price fallen? Will it go back up?

  09-03-2018 15:25 via feedproxy.google.com
  LITECOIN hit its lowest value in three weeks after a promising few days in which the digital currency seemed to steady itself. But why has the price of Litecoin fallen today? Will it go back up?
  
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• JCB to create 600 jobs as world orders roll in

  09-03-2018 14:59 via theguardian.com
  Growth in temporary production line jobs fuelled by booming demand for its construction machinesGrowing global demand is driving the creation of 600 new manufacturing jobs at the digger maker JCB.
  The new roles in areas including welding, paint-sprayeing and assembly pay a minimum of £10.40 an hour, with a premium for shiftwork. Continue reading...
  
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• Ripple price: Why is it falling today? Will it take over Bitcoin?

  09-03-2018 14:03 via feedproxy.google.com
  RIPPLE prices dropped into the red today after the token plunged by 22 percent since the start of the week. But why is Ripple’s XRP falling today?
  
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• Tories have cost households £1,000 in energy bills, says Labour

  09-03-2018 13:52 via theguardian.com
  Labour says Conservative government should have intervened earlierLabour has accused the Conservatives of costing British households nearly £1,000 in extra energy costs over the past seven years by failing to stop electricity and gas firms raising prices.While the government is now imposing an energy price cap, the opposition attacked what it said was a record of inaction by successive Tory governments. Continue reading...
  
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• Pound V euro: GBP inches higher as Draghi downplays ECB’s decision to remove easing bias

  09-03-2018 13:22 via feedproxy.google.com
  THE pound is trading higher against the euro today. The exchange rate is unperturbed by a run of mixed domestic data releases and supported by European Central Bank President Draghi’s comments downplaying the bank’s decision to remove their easing bias.
  
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• REVEALED: European Commission’s big plan to lure businesses and BEAT Brexit Britain

  09-03-2018 12:38 via feedproxy.google.com
  The EUROPEAN Commission is trying to take on Britain to become a leader in FinTech businesses after Brexit after seeing bitcoin and blockchain technology become a “game changer” for financial services.
  
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• Flyer beware: Ryanair to sell tickets with Brexit caveat

  09-03-2018 12:13 via theguardian.com
  Airline reiterates warnings that planes may not fly even as UK edges closer to EU transition deal Ryanair has reiterated warnings over “Brexit complacency” in aviation and said it was still preparing to sell tickets with caveats from September, despite hopes a transitional deal for the UK’s departure from the EU was nearer.The budget airline’s chief marketing officer, Kenny Jacobs, told the BBC: “Everyone is saying it’ll be all right on the night once we get c
  
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• The Institute of Directors is worth saving – but it needs to be saved quickly | Nils Pratley

  09-03-2018 12:09 via theguardian.com
  With claims of a coup attempt against Barbara Judge, a swift resolution is requiredSadly, the Institute of Directors’ director competence framework offers few clues about what to do when your organisation is threatened with sudden implosion. The blurb for the IoD’s training courses talks about the importance of “working collaboratively” and “seeking feedback at every stage of your development pathway”. Top tips, no doubt, but tricky to adopt when your lovely P
  
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• Where do the Brexit negotiations stand?

  09-03-2018 09:47 via theguardian.com
  After the breakthrough at December’s summit, Brexit talks have a long way to go before the expected autumn deadline for the second phase of agreement. Britain is under pressure to formalise the undertakings it made in the first phase and to provide clarity (or at least unity) about what it wants from a transition and eventual future relationship. We summarise the movements so far Continue reading...
  
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• Minimum wage: football clubs and Wagamama among worst underpayers

  09-03-2018 08:35 via theguardian.com
  Name and shame list reveals 9,200 underpaid employees within total of 179 firmsWagamama, TGI Fridays, Marriott Hotels and Karen Millen are among the companies named and shamed by the government for failing to pay the legal minimum wage.The latest list, published by the Department for Business, Energy and Industrial Strategy, names 179 employers for failing to pay a record 9,200 workers £1.1m collectively.Continue reading...
  
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• Amazon customers charged 62p a minute for calls to premium-rate number

  09-03-2018 08:00 via theguardian.com
  Official-looking website tricked users into thinking they were calling the retailer’s free customer service lineRegarding your story about a customer who ran up a large phone bill by inadvertently calling Amazon on a premium-rate forwarding number, it is interesting to find Amazon itself giving such a number on its official Twitter account. The 0843 number costs up to 62p per minute. IB, London Continue reading...
  
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