Financial news

• Amazon shares PLUMMET as Trump accuses website of not paying ENOUGH tax

  29-03-2018 21:48 via feedproxy.google.com
  AMAZON'S share price plummeted after US President Donald Trump accused the website of not paying enough tax in a furious post on Twitter.
  
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• The key reason EU and Britain MUST reach a deal with London's financial services

  29-03-2018 21:14 via feedproxy.google.com
  BREXIT is 12 months away and the EU and Britain are yet to secure a deal on the City of London's financial services with experts warning efforts must be made to reach an agreement before March 29, 2019.
  
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• MPs call for government to block Melrose's £8bn hostile takeover of GKN

  29-03-2018 20:34
  UK engineering group’s role in making military aircraft parts offers national security grounds to halt deal, say its opponents One of Britain’s oldest engineering firms is to be taken over by a company that has been labelled an asset-stripper, prompting calls for the government to block the £8.1bn deal on national security grounds.GKN, which was founded in 1759 and has 59,000 staff including 6,000 in the UK, succumbed to a hostile bid from Melrose after a lengthy and sometimes
  
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• Barclays boss Jes Staley’s handling of US fraud case was correct

  29-03-2018 20:31
  Playing long game in tussle with justice department has resulted in penalty investors can stomach They fought the law, and the law won? At first glance, that is how Barclays’ $2bn (£1.4bn) settlement with the US Department of Justice may seem. The UK bank refused a deal with the DoJ 16 months ago but is now having to pay a large bill for polluting the financial system with mortgage junk – aka, residential mortgage-backed securities – between 2005 and 2007.But resistance w
  
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• What's the controversy over Melrose's hostile takeover of GKN?

  29-03-2018 19:27
  GKN shareholders have voted narrowly in favour of a £8bn bid that has its criticsGKN is the UK’s third largest FTSE-100 engineering company – behind BAE Systems and Rolls-Royce. It employs 59,000 staff, with 6,000 in the UK. Continue reading...
  
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• Melrose was ready for action; takeover target GKN wasn't

  29-03-2018 19:26
  Credibility gap, gung-ho Melrose investors, panicked breakup plan and tepid political reaction led to bid being acceptedOn day one of Melrose’s bid for GKN in January, everybody in the City knew one thing. GKN, a 259-year old company that made cannonballs for Waterloo and Spitfires in the second world war, was doomed if its management mounted a defence based on its recent financial record.GKN had disappointed its shareholders too often and three months previously had confessed to discoveri
  
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• Barclays agrees to pay $2bn to settle US fraud case

  29-03-2018 17:36
  Deal relates to sale of mortgage-backed securities in run-up to financial crisisBarclays has agreed a $2bn (£1.4bn) settlement with the US justice department over the sale of mortgage-backed securities in the lead-up to the 2008 financial crisis.The settlement follows a three-year investigation into allegations that the bank caused billions of dollars of losses to investors by “engaging in a fraudulent scheme” to sell Residential Mortgage-Backed Securities (RMBS) between 2005 a
  
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• Trump lashes out at Amazon and sends stocks tumbling

  29-03-2018 16:58
  The president escalated his attack on Amazon, alleging the company shortchanges taxpayers and puts traditional retailers out of businessPresident Trump escalated his attack on Amazon on Thursday, alleging the retail and cloud-hosting behemoth shortchanges taxpayers and attacking its use of the US Postal Service and its impact on traditional retailers.“I have stated my concerns with Amazon long before the election,” he wrote on Twitter. “Unlike others, they pay little or no taxe
  
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• Wind and solar make more electricity than nuclear for first time in UK

  29-03-2018 16:36
  In 2017 Britain’s greenhouse gas emissions also fell 3% as coal use dropped and renewables climbedWindfarms and solar panels produced more electricity than the UK’s eight nuclear power stations for the first time at the end of last year, official figures show.Britain’s greenhouse gas emissions also continued to fall, dropping 3% in 2017, as coal use fell and the use of renewables climbed. Continue reading...
  
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• Ban on housing benefit for 18- to 21-year-olds scrapped

  29-03-2018 16:20
  Reversal of 2015 Tory manifesto pledge comes after fears it would increase youth homelessnessThe government has scrapped its year-old decision to bar 18- to 21-year-olds from receiving housing benefit amid fears the policy would drive an increase in youth homelessness.Esther McVey, the work and pensions secretary, announced on Thursday that all people in this age group would qualify for the housing element of universal credit, reversing a key part of the 2015 Conservative general election manife
  
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• Is a UK model 'with Chinese characteristics' the answer for financial ... - South China Morning Post

  29-03-2018 15:14
  South China Morning Post
  Is a UK model 'with Chinese characteristics' the answer for financial ...
  South China Morning Post
  Researchers say British system introduced in 2013 could be a good reference for Beijing as it tries to shake up oversight and control risk.en meer »
  
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• Is a UK model 'with Chinese characteristics' the answer for financial regulation? - South China Morning Post

  29-03-2018 15:14
  South China Morning Post
  Is a UK model 'with Chinese characteristics' the answer for financial regulation?
  South China Morning Post
  China could adopt a UK-style financial regulatory system “with Chinese characteristics” to fix its loopholes, a group of researchers advised Beijing. The idea, raised by academics from Tsinghua University and the London School of Economics and ...en meer »
  
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• UK Financial Watchdog Warns Over Unregistered Crypto Brokerage - Coindesk

  29-03-2018 15:06
  Coindesk
  UK Financial Watchdog Warns Over Unregistered Crypto Brokerage
  Coindesk
  The U.K.'s financial regulator has issued a warning to investors over an unregistered brokerage firm that appears to be offering cryptocurrency-related derivatives in the country. In a statement Thursday, the Financial Conduct Authority took aim at a ...
  
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• Pension auto-enrolment 2018: How you could add at least £100,000 to your retirement pot

  29-03-2018 14:58 via feedproxy.google.com
  PENSION auto-enrolment rules will change on April 6 meaning employees could see their day decrease as they’re forced to put more into their pensions. But with the new rules, here is how you could add at least £100,000 to your retirement pot.
  
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• BP chief Bob Dudley's pay jumps by almost 13% to $13.4m

  29-03-2018 14:24
  Repeat of shareholder revolt of two years ago is unlikely after oil firm’s strong 2017 performanceThe pay of BP’s chief executive, Bob Dudley, jumped by almost 13% last year to $13.4m (£9.5m), bringing it closer to the $19.4m pay package shareholders rejected two years ago.In 2016, the oil company’s investors staged a revolt over a 20% pay rise for 2015 after BP posted its worst ever loss. Dudley’s pay was cut to $11.9m in 2016. Continue reading...
  
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• Household spending hit six-year low in 2017 amid Brexit inflation

  29-03-2018 13:11
  Statistics office figures show UK had lowest growth among G7 economiesHousehold spending slowed to its lowest annual growth for six years in 2017 amid Brexit-fuelled inflation, with borrowing surging and family savings slumping to a record low.Figures from the Office for National Statistics (ONS) confirmed economic growth slowed to 0.4% in the final three months of last year, down from 0.5% in the third quarter as weaker household spending took its toll. Continue reading...
  
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• Japanese firm Takeda Pharmaceutical eyes up Shire as it considers an approach

  29-03-2018 12:40 via feedproxy.google.com
  SHARES in FTSE 100 drugmaker Shire soared 430p to 3500p after it emerged as a £35billion takeover target for Japan’s biggest pharma company. Takeda Pharmaceutical is considering an approach to Shire as it looks to strengthen its core therapeutic areas of oncology and neuroscience.
  
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• Litecoin price news: What is the current value of Litecoin? Is LTC DEAD?

  29-03-2018 12:14 via feedproxy.google.com
  LITECOIN took a battering last night as it dropped more than 10 percent of its value in just a few hours amid a market-wide crypt-crash. What is the current value of Litecoin and is LTC DEAD?
  
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• Barclays to suspend online services while it splits bank

  29-03-2018 12:03
  24m accounts unavailable most of Sunday as IT workers move them to ringfenced retail sectorBarclays’ online and mobile banking services will be unavailable this weekend, as the bank temporarily switches off access for 24 million customers to meet regulations designed to avoid taxpayer bailouts.Throughout the night from 11.30pm on Saturday until 3.30pm the following afternoon on Easter Sunday, customers will be unable to check their balances using the internet or their mobile phones, make a
  
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• Pound v US dollar: GBP exchange rate slips as UK growth lags behind

  29-03-2018 11:44 via feedproxy.google.com
  THE POUND is on the back foot against the US dollar this morning following the release of the UK’s final reading for fourth quarter 2017 GDP. The pound US dollar exchange rate is currently at around $1.405.
  
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• Would you take £1m now, or £1,000 a week for the rest of your life? | Hannah Jane Parkinson

  29-03-2018 10:46
  A Canadian teenager didn’t just win the lottery, she got to choose how she was paid. Which presents a dilemma …It’s a nice dilemma to have, and quietly devastating for the rest of us who will probably never have to face such a conundrum. A Canadian teenager who won the lottery, after buying her first ever ticket to celebrate her 18th birthday, was given a choice: take home an instant C$1m, which works out at around £550,000; or receive C$1,000 (£550) a week for the
  
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• ISA deadline 2018: When is the ISA deadline? How to make the most of ISA allowance 2018/9

  29-03-2018 10:43 via feedproxy.google.com
  THE ISA allowance for the 2017 to 2018 year will be reset this April so savers can keep adding more money into their accounts. But how can you make the most of your tax-free allowance?
  
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• UK house prices fall for second month, with London weakest region

  29-03-2018 10:17
  Consumer confidence subdued amid squeeze on household finances, says NationwideUK house prices fell in March for the second month in a row, with London again the weakest region, according to Nationwide, one of Britain’s biggest mortgage lenders.
  The average price of a home was £211,625 last month, down 0.2% from the previous month. In February, values fell 0.4%. The annual rate of growth in March slowed to 2.1% from 2.2%, marking the joint lowest rate since June 2013.Continue reading
  
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• Bargain Booze owner Conviviality to file for administration

  29-03-2018 09:25
  Plight of firm, also behind Wine Rack, puts 2,600 jobs at risk and threatens supplies to pubsConviviality, the company behind the off-licence chains Bargain Booze and Wine Rack, is to appoint administrators within a fortnight, putting 2,600 jobs at risk.
  The impending administration has prompted warnings that beer pumps could run dry. More than 20,000 of Britain’s pubs are supplied by the company’s Matthew Clark division. The trade body, the British Beer and Pub Association, said man
  
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• My nine-year struggle with Virgin for a working broadband connection

  29-03-2018 08:00
  I’ve lost days off workand freelance commissions, but it has just offered £100 in ‘goodwill’I’ve been without a properly functioning broadband for nine years and Virgin Media seems unable to do anything about it. The problems began soon after I moved into my conversion flat in 2008. The cable runs over the roof, then splits to each of the properties, finally reaching my flat at the bottom. A technician advised that I would need my own cable fitted for a reliable con
  
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• Parking problem: Volkswagen storing 300,000 diesels across US

  29-03-2018 07:31
  Carmaker has paid $7.4bn to buy back 350,000 vehicles after it was exposed for circumventing emissions controlsVolkswagen has taken parking lots to a whole new level in the US – and will not be emptying them soon. Volkswagen AG has paid more than $7.4bn to buy back about 350,000 US diesel vehicles, a recent court filing shows. The German automaker has been storing hundreds of thousands of vehicles around the US for months.Continue reading...
  
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• How to bring a high street back from the dead

  29-03-2018 07:00
  Thousands of high street outlets have closed in the last decade, leaving behind a wasteland of betting shops. But one community in York has found a simple way to reverse the decline. Could their model be used nationwide?It’s the stuff of nightmares. You wander down a road where most of the shops are boarded up. The bookmakers is open, but reeks of desperation, with gamblers hunched over fixed-odds machines. Next door, the payday loans place looks quiet, as does the pawnbroker. Moving on sw
  
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• Pound V euro: GBP exchange rate drops a year ahead of Brexit date

  29-03-2018 01:01 via feedproxy.google.com
  THE pound to euro exchange rate has fallen on a historic date for the UK in the overall Brexit process. Today marks exactly a year before the UK will finally start to leave the EU and enter into a transitional period.
  
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