Financial news

• Banks turn to BLOCKCHAIN as JP Morgan launches own cryptocurrency tech

  13-03-2018 22:34 via feedproxy.google.com
  BANKS are turning to blockchain as JP Morgan launches its own technology that is known as the power behind cryptocurrencies such as bitcoin.
  
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• Ripple price: XRP CEO reveals THE secret behind cryptocurrency's popularity

  13-03-2018 21:12 via feedproxy.google.com
  RIPPLE'S CEO Brian Garlinghouse has revealed the secret behind the surge in XRP value as speculation mounts over Amazon using the cryptocurrency on an exchange created by the commerce giant.
  
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• Accountants and lawyers ‘must report’ aggressive tax avoidance schemes

  13-03-2018 20:38 via theguardian.com
  New European Union law will affect UK financial services, as EU adds more countries to its tax blacklistAccountants, bankers and lawyers will face penalties if they fail to report aggressive tax avoidance schemes that help companies or individuals move money to offshore havens, under a new European Union law.The rules, agreed by EU finance ministers on Tuesday, will affect the UK financial services industry despite Brexit, because they enter into force six months before the likely end of a trans
  
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• Philip Hammond hints at public spending increases later this year

  13-03-2018 20:24 via theguardian.com
  Chancellor’s spring statement suggests that drop in deficit may release money for servicesPhilip Hammond has dropped the broadest possible hint that he will announce spending increases later this year as he sought to use a modest improvement in the public finances to indicate more money was on the way for hard-pressed public services.The chancellor seized on new forecasts from the Office for Budget Responsibility showing a £5bn drop in the government’s budget deficit to say tha
  
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• Ethereum price: Why is Ethereum dropping today? Latest cryptocurrency CRASH

  13-03-2018 20:10 via feedproxy.google.com
  THE price of Ethereum has slumped today along with rivals Bitcoin and Ripple in the latest cryptocurrency crash. But why is Ethereum dropping today?
  
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• 'Fight fire with fire' IMF boss Christine Lagarde calls for crypto crackdown

  13-03-2018 20:04 via feedproxy.google.com
  THE head of the International Monetary Fund has called for a crackdown on cryptocurrencies warning the innovations behind bitoin could be used to regulate the digital token and "fight fire with fire".
  
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• All change? Future of 1p and 2p coins in doubt as demand falls

  13-03-2018 19:25 via theguardian.com
  Treasury says copper coins and £50 note are used infrequently in era of digital paymentsThe future of 1p and 2p coins and the £50 note is in doubt after the Treasury said demand was in sharp decline as consumers turn their backs on cash in favour of contactless payments.Launching a review of cash and digital payments alongside the spring statement, the Treasury said it did not make economic sense to produce coins and notes that were used infrequently. Continue reading...
  
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• Tower residents told to pay £500,000 to replace Grenfell-style cladding

  13-03-2018 18:26
  Tribunal rules that leaseholders in Croydon block are responsible for making building safeLeaseholders in an apartment block covered in Grenfell-style cladding have been ordered to pay £500,000 to make their building safe after a tribunal ruled that they, rather than the management company, were obliged to cover the costs.The ruling, which could be challenged, means leaseholders of the 95-apartment Citiscape complex in Croydon, south London, may face a £2m bill, which some have said
  
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• UK will save no money from Brexit for next five years, says OBR

  13-03-2018 18:08 via theguardian.com
  Country will continue paying divorce bill until at least 2064, predicts budget watchdog The UK will save no money from leaving the European Union over the next five years and could be paying its Brexit divorce bill until at least 2064, according to the government’s independent budget watchdog. Outlining the cost of severing links with the EU, the Office for Budget Responsibility said government spending up until 2023 would have been the same if the UK had voted to remain in the 2016 refere
  
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• University strikes to continue after staff reject pension offer

  13-03-2018 18:02
  Union forced to throw out deal reached with employers in attempt to end disputeStrikes at UK universities are to continue after staff overwhelmingly rejected a revised offer on their pensions.The University and College Union was forced to throw out the deal it had negotiated with university employers after members voted against it.Continue reading...
  
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• Spring statement: Hammond sees better times ahead despite weak growth, as £37bn Brexit bill looms - as it happened

  13-03-2018 18:01 via theguardian.com
  Rolling coverage of Chancellor Philip Hammond’s spring statement, including the latest growth and borrowing forecasts for the UKBrexit divorce bill estimated at £37.1bnEconomists: Growth outlook is woefulPhilip Hammond: Light at end of the tunnelJohn McDonnell blast Hammond’s ‘complacency’Growth forecasts up in 2018, but down in 2021 and 2022
  Politics Live: Salisbury spy poisoning latest5.13pm GMTRelated: UK will save no money from Brexit for next five years, says O
  
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• True cost of Heathrow third runway must be revealed, say MPs

  13-03-2018 16:30 via theguardian.com
  Justine Greening and Vince Cable among those saying plan would jeopardise spending elsewhereThe true cost to the public of building a third runway at Heathrow has not been spelled out to taxpayers, according to a cross-party group of MPs, who warn that domestic flight connections and other transport spending will be jeopardised.Justine Greening, who quit Theresa May’s cabinet in January, is among the MPs calling on the government to clarify what backing expansion at the London hub airport
  
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• Return of the apprentice? Hammond injects £80m to build army of small business apprentices

  13-03-2018 16:10 via feedproxy.google.com
  CHANCELLOR Philip Hammond has earmarked £80million to rebuild Britain’s army of apprentices and redress the relentless push to send every teenager to university.
  
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• Ripple CEO says THIS is the reason why regulation will be BETTER for cryptocurrencies

  13-03-2018 15:45 via feedproxy.google.com
  RIPPLE CEO Brad Garlinghouse insisted cryptocurrency regulation will be “much better” than people realise amid fears from experts that crypto red-tape could stifle development.
  
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• Spring statement: Brexit divorce bill estimated at £37.1bn - live updates

  13-03-2018 15:30 via theguardian.com
  Rolling coverage of Chancellor Philip Hammond’s spring statement at 12.30pm, including the latest growth and borrowing forecasts for the UKBrexit divorce bill estimated at £37.1bnUK will be paying it off until 2064Latest: John McDonnell blast Hammond’s ‘complacency’Chancellor to consult on reducing plastic wasteGrowth forecasts up in 2018, but down in 2021 and 2022Hammond: There could be more cash for NHSPolitics Live: Salisbury spy poisoning latest2.30pm GMT City e
  
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• Fever-Tree profits fizz as sales of low-calorie tonic double

  13-03-2018 15:30 via theguardian.com
  Drinks maker to move into mixers for dark spirits after success of light tonic The popularity of its light tonic and ginger beer have boosted profits at drinks-maker Fever-Tree, but its shares fell on a less sparkling outlook for 2018.
  The company has benefited from the gin craze, which has boosted sales of tonic water, in particular its low-calorie tonic whose sales more than doubled in the UK. Fever-Tree plans to launch more low-calorie mixers, which now account for just under a third of its t
  
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• Dow rises 180 as Trump DUMPS Tillerson as Secretary of State

  13-03-2018 15:07 via feedproxy.google.com
  THE DOW Jones is on the up despite a White House announcement confirming that Secretary of State Rex Tillerson will be replaced by current director the Central Intelligence Agency, Mike Pompeo.
  
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• Bitcoin price: Weiss Cryptocurrency Ratings reevaluate bitcoin score ‘Bitcoin is not dead’

  13-03-2018 14:28 via feedproxy.google.com
  BITCOIN has fallen on an overall downward trajectory since the start of the new year but Weiss Cryptocurrency Ratings have reassessed their initial bitcoin evaluation to give the token a more favourable investment score.
  
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• Bitcoin price: Ethereum founder says it's 'shortsighted' to claim crypto bubble has POPPED

  13-03-2018 14:15 via feedproxy.google.com
  THE BITCOIN bubble is not over yet according to Ethereum co-founder Joseph Lubin, who said the claims the cryptocurrency bubble has “popped” are “shortsighted”.
  
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• 'Fight fire with fire': IMF's Lagarde calls for bitcoin crackdown

  13-03-2018 14:00 via theguardian.com
  IMF chief says cryptocurrency’s own blockchain technology could be used to control itChristine Lagarde has called for a crackdown on bitcoin by using the technology behind the digital currency to “fight fire with fire”.The head of the International Monetary Fund said authorities around the world could harness the potential of cryptocurrencies to help bring them under control, warning that failure to do so would allow the unfettered development of a “potentially major new
  
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• Quiche in, pork pies out! UK inflation goods basket changes for 2018

  13-03-2018 13:56 via theguardian.com
  ONS basket has some interesting additions: gym leggings and soft-play and some exclusions: a full leg wax and pastiesWomen’s activewear leggings, quiche and raspberries are in vogue while pork pies and bottles of lager drunk in nightclubs are out in the annual shakeup of the UK’s shopping basket, suggesting the shift towards a healthier lifestyle continues.Gym leggings, made popular by athleisure brands such as Beyoncé’s Ivy Park, have been added to the basket used by th
  
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• Larry Page's Kitty Hawk unveils autonomous flying taxis

  13-03-2018 12:42 via theguardian.com
  Two-person, 110mph electric craft made by Google co-founder’s drone company begins regulatory approval process in New ZealandAutonomous flying taxis just took one big step forward to leaping off the pages of science fiction and into the real world, thanks to Google co-founder Larry Page’s Kitty Hawk.
  The billionaire-backed firm has announced that it will begin the regulatory approval process required for launching its autonomous passenger-drone system in New Zealand, after conducting
  
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• Ripple price: CEO says THIS is the reason why you shouldn't FEAR cryptocurrency regulation

  13-03-2018 12:32 via feedproxy.google.com
  RIPPLE CEO Brad Garlinghouse insisted cryptocurrency regulation will be “much better” than people realise amid fears from experts that crypto red-tape could stifle development.
  
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• Spring Statement LIVE Hammond slams McDonnell's 'sinister ideology' that could DESTROY UK

  13-03-2018 12:29 via feedproxy.google.com
  CHANCELLOR Philip Hammond came out fighting today as he delivered his Spring Statement, hailing Britain's growth and deficit reduction figures and blasting the opposition as a 'DANGER' to Britain.
  
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• Budget 2018 LIVE: Chancellor delivers UK Spring Statement – Brexit Britain set for boost

  13-03-2018 12:29 via feedproxy.google.com
  CHANCELLOR Philip Hammond will deliver his Spring Statement at 12.30pm this afternoon and is expected to expand on UK growth, debt and productivity as the country prepares to leave the European Union.
  
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• Trade war could derail global economic recovery, warns OECD

  13-03-2018 12:25 via theguardian.com
  Thinktank upgrades its growth forecast but says tit-for-tat tariffs would make international trade vulnerableThe west’s leading economic thinktank has warned Donald Trump that a trade war prompted by US protectionism threatens to derail a recovery in global growth, which has reached its highest level in seven years.In its latest interim forecasts, the Paris-based Organisation for Economic Co-operation and Development said it expected the world economy to expand by 3.9% in both 2018 and 201
  
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• Pound v US dollar: Spring Statement and US inflation readings imminent

  13-03-2018 12:09 via feedproxy.google.com
  THE pound to US dollar exchange rate steadied on Tuesday morning, cautious ahead of the US consumer price inflation release and the Spring Statement. UK Chancellor Philip Hammond is set to unveil the UK’s first ever Spring Statement today.
  
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• Bitcoin price LIVE: BTC holds loose grip above $9,000 as IMF boss calls for more control

  13-03-2018 11:23 via feedproxy.google.com
  BITCOIN has mostly stayed above the $8,000 mark today and currently sits at $9,144. It did reach a high of $9,463 at 6.00 am.
  
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• Pound V euro: Spring Statement uncertainty leaves GBP exchange rate tight

  13-03-2018 11:22 via feedproxy.google.com
  THE pound has been trading in a narrow range against the euro this morning. It has previously declined from Monday’s high of €1.129 to today’s GBP/EUR exchange rate of €1.126.
  
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• Millennial railcard: 'unprecedented' demand crashes website

  13-03-2018 11:05 via theguardian.com
  Site struggles to cope amid huge demand for new railcard giving 33% discounts to people aged 26 to 30The website selling the new millennial railcard crashed on Tuesday as commuters scrambled to buy one of the 10,000 available.
  Passengers aged 26 to 30 were eligible for the discount card for the first time on Tuesday, but the site could not cope with the rush. Continue reading...
  
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• Pound LIVE: Spring Statement - Pound rises as Hammond comes out fighting

  13-03-2018 10:40 via feedproxy.google.com
  THE POUND has responded positively to Chancellor Philip Hammond’s Spring Statement as it is currently up against most major currencies.
  
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• Pound LIVE: Spring Statement - Chancellor set to deliver good news over deficit and GDP

  13-03-2018 10:40 via feedproxy.google.com
  THE POUND is watching for the sentiment of Chancellor Philip Hammond's Spring Statement this afternoon with Hammond likely to say that the outlook for growth is now better than it was three months ago.
  
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• Retailers call for minimum wage freeze to offset new overtime rules

  13-03-2018 09:32 via theguardian.com
  National Retail Association tells Fair Work Commission businesses can’t afford pay risesA retail body has suggested the Fair Work Commission freeze the minimum wage, meaning Australia’s lowest paid workers would receive a real cut to their pay, however Labor has called for an above-inflation rise.Submissions to the commission for its annual review closed on Tuesday, with calls ranging from the National Retail Association’s (NRA) call for a 0% pay increase up to the Australian C
  
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• Brexit is masking the government’s complete paralysis | Katy Balls

  13-03-2018 09:30 via theguardian.com
  Since Theresa May lost her majority, her government has struggled to create legislation. Leaving the EU makes it look busyWhat is the government up to? Not very much, according to research out on Monday. Some serious number-crunching by the Times has revealed that Theresa May’s government is the most inactive for at least two decades. The number of votes held in the nine months since the general election – traditionally when a government enacts its vision – is lower than after
  
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• Bitcoin price LIVE: BTC falls, Ripple CEO says bitcoin is the 'Napster of digital assets'

  13-03-2018 08:18 via feedproxy.google.com
  BITCOIN is down from yesterday morning after falling down sharply from $9,700 to $8,800 overnight. Ripple is down at $0.79, and Ethereum is at $702.
  
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• Qualcomm deal over as Trump blocks Singaporean chip maker's bid

  13-03-2018 08:12 via theguardian.com
  President points to national security concerns in announcing unusual move, amid climate of economic protectionismDonald Trump took the unusual step of blocking the Singaporean chip maker Broadcom’s bid for its US rival Qualcomm on Monday night, citing national security concerns and ending what would have been the biggest-ever tech deal.Announcing the extraordinary move, Trump said “there is credible evidence” that allowing the Singapore-based company to take control of Qualcomm
  
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• Melrose’s £8bn GKN bid may succeed – but it's still too mean | Nils Pratley

  13-03-2018 08:04 via theguardian.com
  The turnaround firm’s breakup plans might be worth the risk, but it hasn’t offered decent termsIt is easy to understand why Aviva Investors have sided with Melrose in the great £8bn bid battle for GKN. The fund management house has a 5.4% stake in Melrose and a holding of only 1.2% in GKN. David Cumming, Aviva’s chief investment officer, may genuinely believe that Melrose’s “measured execution of value” is best for shareholders in both companies, but it&
  
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• Why does British Gas fail to service my boiler annually?

  13-03-2018 08:00 via theguardian.com
  The company says emergencies caused by extreme weather have forced it to put off routine workYou featured the case of the British Gas customer who was asked to pay £629 to renew their HomeCare Four cover. I have HomeCare Two at £390 a year, and while I have had good service over the years, I am increasingly concerned about the time between annual services. My last few have been 14-15 months apart and I have the strong feeling services are being manipulated so customers end up with fe
  
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• Spring statement 2018: what to look out for in Philip Hammond's speech

  13-03-2018 07:00 via theguardian.com
  What the chancellor is likely to say about economic growth, debt, borrowing and morePhilip Hammond has promised MPs a short, snappy affair when he delivers the government’s first spring statement to the Commons at about 12.30pm on Tuesday.Shorn of tax and spending measures, the chancellor’s 15- to 20-minute speech will play second fiddle to the budget, which has been moved to the autumn. Continue reading...
  
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• Edgy urban apartments, lavish promos – and a trail of angry investors

  13-03-2018 06:00 via theguardian.com
  Marketed with great fanfare by top UK politicians, a string of buyer-funded developments in Liverpool and Manchester were snapped up. Then the dominoes began to fall
  They were billed as the jewels in the crown of the Northern Powerhouse: a multimillion-pound series of property developments that would have brought thousands of new homes and hundreds of jobs to Liverpool and Manchester, complete with helipads, Chinese bazaars and a Banksy street art gallery. But now the plans have collapsed amid a
  
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• China unveils shake-up of bank regulation to rein in credit spree

  13-03-2018 05:39 via theguardian.com
  Insurance and banking regulators will be combined into one agency as credit in the world’s second largest economy has exploded since the financial crisisChina has unveiled plans for the biggest shake-up of its government in recent years, including the merger of its banking and insurance regulators to better handle financial risks as leaders look to address concerns over growing debt.
  The proposed changes create new bureaus, do away with others, and shift around responsibilities. Continue r
  
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• Ripple price ‘CRASH’: Cryptocurrency value PLUNGES following DEVASTATING XRP loss

  13-03-2018 05:11 via feedproxy.google.com
  RIPPLE’S price plunged by one per cent following a devastating litigation loss against software company R3 HoldCo that continued the cryptocurrency’s downward trend, it has emerged.
  
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• Litecoin price ‘could SKYROCKET’: Cryptocurrency SOARS by 4000% and might NOT be finished

  13-03-2018 02:55 via feedproxy.google.com
  LITECOIN’S price could skyrocket this year after the cryptocurrency was recently touted for a major market exchange announcement that may dramatically change its value, it has emerged.
  
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• Ethereum price ’RISE’: Cryptocurrency value could SURGE after possible MARKET BOOST

  13-03-2018 02:42 via feedproxy.google.com
  ETHEREUM could be set surge if the cryptocurrency records a market boost after two digital companies teamed up in an attempt to establish a benchmark price for trading, it has emerged.
  
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• Hotels, restaurants and pubs plan hiring spree amid Brexit fears

  13-03-2018 01:01 via theguardian.com
  Survey shows hospitality sector expects a busier period for hiring than other parts of the economyHotels, restaurants, pubs and bars are preparing to hire at the fastest pace in a year, with many being forced to act due to growing fears of an exodus of migrant workers as Britain leaves the European Union. Despite a downturn in consumer spending forcing restaurant chains to close outlets en masse, the hospitality sector is expecting a busier period for hiring staff than any other part of the econ
  
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• Bitcoin price: Why is BTC falling? Is 'Tokyo Whale’ behind slide? Can bull market return?

  13-03-2018 00:20 via feedproxy.google.com
  BITCOIN tanked in value today, falling below £9,000 with 5.77 percent being wiped off its value in 24 hours. But why is BTC falling? Can the bull market return now the ‘Tokyo Whale’ has stopped selling?
  
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