Financial news

• UK Lawmakers Push Financial Watchdogs To Keep Up With AI - Law360

  16-04-2018 21:02
  UK Lawmakers Push Financial Watchdogs To Keep Up With AI
  Law360
  Law360, London (April 16, 2018, 1:17 PM BST) -- A parliamentary committee called Monday for the U.K. to take the lead in the ethical development and deployment of artificial intelligence, urging the country's insurance, financial services and ...
  
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• WPP: breaking up world's top advertising group could net £22bn

  16-04-2018 16:35
  How Sir Martin Sorrell’s sprawling empire breaks down – and who could succeed him•Martin Sorrell’s resignation triggers 7% slide in WPP sharesSir Martin Sorrell’s resignation has raised the question of whether his successor will be able to stop a breakup of the world’s largest advertising group.A number of names have emerged as potential runners and riders, including the Informa chief executive Stephen Carter, who has worked at Ofcom, cable firm NTL and at WPP&
  
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• Martin Sorrell's resignation triggers 7% slide in WPP shares

  16-04-2018 16:34
  Market reacts to uncertainty over succession at world’s largest advertising businessWPP: breaking up world’s top advertising group could net £22bnSir Martin Sorrell’s abrupt resignation from WPP triggered a 7% slide in the group’s share price on Monday as investors mulled the uncertain future of the world’s largest advertising business.Sir Martin, who founded WPP 33 years ago, resigned with immediate effect on Saturday amid an investigation into allegations of
  
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• Korean Air suspends executive over 'water rage' at meeting

  16-04-2018 16:05
  After ‘nut rage’ scandal, another daughter of airline’s chairman is accused of abusing powerThe airline Korean Air has suspended one of its chairman’s daughters from her marketing role after an alleged violent outburst at a business meeting, prompting public outrage and a police investigation.Cho Hyun-min, also known as Emily Cho, is the younger sister of another executive of the airline who caused a flight to be delayed in 2014 because of “nut rage” while onb
  
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• Pound climbs to second-highest level since Brexit vote – as it happened

  16-04-2018 15:49
  Sterling rises above $1.43 ahead of key UK data this week, while rouble stabilises following steep drop earlier. Markets tense after western air strikes on Syria and ahead of anticipated new US sanctions against Russia 2.49pm BST Wall Street has opened higher, as fears of an escalating conflict in Syria faded. 2.27pm BST Since Trump became president in January 2017, the dollar has weakened substantially against most major currencies, including China’s yuan and, until the US sanctions again
  
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• Pound climbs to second-highest level since Brexit vote – business live

  16-04-2018 15:27
  Sterling rises above $1.43 ahead of key UK data this week, while rouble stabilises following steep drop earlier. Markets tense after western air strikes on Syria and ahead of anticipated new US sanctions against Russia 2.27pm BST Since Trump became president in January 2017, the dollar has weakened substantially against most major currencies, including China’s yuan and, until the US sanctions against Russia in the last few weeks, the rouble.Against the yuan, the dollar has fallen 8.6% sinc
  
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• 'Lightweight PR and greenwash' – BP's low-carbon plan dismissed

  16-04-2018 15:20
  Environmentalists call strategy ‘20th century response to a 21st century problem’Environmental leaders have dismissed BP’s new low-carbon strategy as “greenwash” and a lightweight response to climate change and the energy market’s rapid switch to renewables.In a strategy published on Monday, BP said there would be no increase in its carbon footprint over the next seven years because it will cut emissions from its oil and gas rigs, and offset the rest. Continue
  
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• Aga saga: why did the cooker firm give me such poor service?

  16-04-2018 15:19
  As a loyal customer of 20 years I feel let down over costs and a needless ‘health check’Aga let me know by email that my 23-year-old appliance’s regular service was overdue. I telephoned to arrange it but was dismayed by the attitude of the woman I spoke to, who said she had only been with the company for five months. At first she said we would need a “health check” because our service was overdue but I told her I had only recently received a reminder email. She spo
  
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• Universities ending the strikes is not a climbdown – the fight goes on | Des Freedman

  16-04-2018 14:07 via theguardian.com
  Unions have accepted the Universities UK offer, but there is plenty of unfinished business – and not just with pensionsMembers of the University and College Union have voted 64% to 36% to suspend industrial action in their campaign to defend guaranteed pensions. They have accepted the proposals of the employers’ organisation, Universities UK, to set up a “joint expert panel” to consider the valuation of the Universities Superannuation Scheme (USS) fund.They have not done
  
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• Car insurance prices fall for first time since 2014 amid whiplash crackdown

  16-04-2018 12:37
  UK average in the first three months of 2018 was £768, with men still paying more than womenCar insurance prices in the UK have recorded their first year-on-year fall since 2014, following reforms to whiplash payouts and a review of compensation paid to victims of motor accidents.According to comparison site Confused.com, the average premium in the first three months of 2018 was £768, down by 2%, or £13, on the same period last year. It said prices peaked in the last quarter of
  
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• Striking a new chord: musicians diversify to extend their careers

  16-04-2018 11:52
  Billy Bragg, Chris Difford and the Selecter’s Pauline Black among those turning to talks and books On Thursday the singer-songwriter Billy Bragg will give a talk at the Bank of England about how to build a better society. Bragg, a pro-Corbyn activist and veteran protest singer, was invited as part of an effort to “shake up” thinking at the Bank, he told the Guardian this month. While Bragg’s spot at Britain’s central bank is highly unusual, his unpaid appearance is
  
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• Elon Musk drafts in humans after robots slow down Tesla Model 3 production

  16-04-2018 11:36
  ‘Humans are underrated,’ says CEO after company failed to hit weekly production target in first quarter of 2018Elon Musk has admitted that automation has been holding back Tesla’s Model 3 production and that humans, rather than machines, were the answer.
  The electric car maker’s chief executive said that one of the reasons Tesla has struggled to reach promised production volumes was because of the company’s “excessive automation”. Continue reading...
  
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• Wetherspoon founder denies social media account closure is stunt

  16-04-2018 11:22
  Platforms ‘waste of time’ says Tim Martin after pub chain’s sites attract online complaints The founder of JD Wetherspoon has said a decision to close all the pub chain’s social media accounts was not a publicity stunt.The company’s move to shut Twitter, Instagram and Facebook accounts for its 900 outlets was greeted with widespread scepticism. Tim Martin, who is also chairman of the company, said it was a business decision because social media had become a “d
  
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• JD Wetherspoon closes all social media accounts

  16-04-2018 11:22
  Chair Tim Martin reportedly made decision after publicity over trolling of some MPs
  JD Wetherspoon is closing down all its social media accounts in a move that has been met with widespread scepticism.The pub chain’s decision was reportedly in response to the trolling of some MPs, but many commentators suspected it was a publicity stunt by the chairman, Tim Martin.Continue reading...
  
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• I own a house that my family live in – can I keep it and buy a flat?

  16-04-2018 10:19
  I’m 29, earn £25,000 and am wondering if I could replace the mortgage with a buy-to-let loanQ I currently own a house in my hometown in which my mum and younger brother have lived since she separated from my stepdad. I bought the house in 2012 for £115,000, it’s now worth £135,000 and there is £80,000 left on the mortgage.Originally I lived in the house and commuted but since my family moved in I started renting a place near to my work. My mum has been paying
  
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• Bitcoin price LIVE: BTC sheds $300 but expert describes crypto pensions as 'inevitable'

  16-04-2018 09:32 via feedproxy.google.com
  BITCOIN has lost $300 on the day so far after falling from its weekend high of $8,339. BTC is set for a big boost as institutional investment funds warm to the idea of adding cryptoassets to their portfolio, according to one expert.
  
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• Car crime: How to protect against vehicle theft

  16-04-2018 08:02 via feedproxy.google.com
  CAR THEFT is starting to accelerate again and motorists need to take greater care to avoid being the next to fall victim. An incredible 250 cars are stolen across the UK every single day, official figures show, yet all too often thieves get clean away with it. This means you need to take added care when leaving your motor unattended, and ensure technology is working for you rather than against you.
  
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• Value of London flats slashed by Grenfell-style cladding

  16-04-2018 07:00 via theguardian.com
  Home in New Capital Quay, Greenwich, worth £50,000 rather than £475,000, owner toldA homeowner in a housing complex in London with Grenfell-type cladding has been told the value of her £475,000 home has collapsed and is now just £50,000.Galliard Homes, the developer of the 11-block complex in New Capital Quay in south-east London, is facing a £30m-£40m bill to replace the cladding and is locked in a legal dispute over who should pay. Continue reading...
  
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• Bitcoin price 'RECOVERY': Crypto expert identifies MARKET MISTAKE amid SOARING values

  16-04-2018 06:40 via feedproxy.google.com
  A CRYPTOCURRENCY expert has said people should not think of Bitcoin as a company which is one of the main mistakes among investors and claims it is more like the "internet in the 1980s", it has emerged.
  
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• UK retailers see 6% drop in shopper numbers in March

  16-04-2018 01:01
  Consumers abandon high street during bad weather, prompting steepest fall since 2010Dismal weather kept consumers away from the high street last month, prompting the steepest drop in shopper numbers since the end of 2010.The number of people visiting shops in March dropped 6% compared with the same month last year after strong winds and snow hit the UK. A survey of Visa card users indicated that consumer spending slid 2% in March, rounding off a poor start to the year for the retail sector. Cont
  
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