Financial news

• Millennial housing crisis engulfs Britain

  28-04-2018 22:30 via theguardian.com
  Figures showing problem is not confined to London raise concerns about inter-generational fairnessHome ownership among young families has plummeted across every corner of Britain over the past 35 years, according to a devastating inquiry into the housing crisis facing millennials.The proportion of families headed by a 25- to 34-year-old that own their own home has more than halved in some regions, showing that the crisis goes far beyond London. Continue reading...
  
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• Sky TV: 21st Century Fox awaits CMA ruling on Sky deal

  28-04-2018 19:48 via feedproxy.google.com
  Competition regulators will this week rule whether or not 21st Century Fox should be allowed to acquire British pay-TV giant Sky.
  
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• Diesel car manufacturers' HEAVY DISCOUNTS isn't flogging cars

  28-04-2018 19:24 via feedproxy.google.com
  Diesel vehicle manufacturers are offering heavy discounts to try to tempt leasing groups and retailers into taking their cars but are failing as demand has dried up, according to Buy2LetCars.
  
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• HSBC, Lloyds, Barclays... : Is the new group of banks up to challenge?

  28-04-2018 18:43 via feedproxy.google.com
  THE RISE of the challenger banks has offered hope to the nation’s disillusioned banking customers, but after TSB’s botched computer system upgrade last week those hopes may look misplaced.
  
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• TSB: Lloyds customers could end up out of pocket, says GEOFF HO

  28-04-2018 18:16 via feedproxy.google.com
  TSB’s IT upgrade has been a disaster for the bank and its clients and even though chief executive Paul Pester has claimed that customers would not be left out of pocket, I fear that might not be the case.
  
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• The time for the Bank to raise interest rates has long since come and gone | Phillip Inman

  28-04-2018 18:00 via theguardian.com
  Having been forced into emergency measures in the austerity years, Mark Carney is now stymied by last week’s GDP figuresWith little more than a week to go before the Bank of England considers its next interest rate move, it has become clear that the Old Lady of Threadneedle Street has missed the boat. Its governor, Mark Carney, hinted as much in comments earlier this month when he spoke about the weakening of the economy since the start of the year.“I don’t want to get too
  
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• Asda and Sainsburys merger triggers supermarket PRICE WAR

  28-04-2018 17:55 via feedproxy.google.com
  Sainsbury’s and Asda are to announce a £10billion “merger of equals” this week, a move that will trigger a new phase in the supermarket price war.
  
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• Competition regulator likely to choke on Sainsbury's-Asda deal

  28-04-2018 17:23 via theguardian.com
  CMA unlikely to swallow any of the arguments the two retailers make for mergerPrepare for the biggest competition inquiry in years. A merger of Sainsbury’s and Asda would create an operator with a bigger market share than Tesco, which only a few years ago was defending itself against “Tescopoly” complaints. A Sainsbury’s-Asda combination plus Tesco would have almost 59% of the market between them. At no point since the invention of supermarkets would there ever have been
  
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• Paul Singer: the secretive wizard casting a spell over Waterstones

  28-04-2018 17:00 via theguardian.com
  Activist financier who bought bookshop has colourful recordA Republican billionaire hedge fund manager attacked by the former president of Argentina as a “financial terrorist” and “vulture lord” has just bought your local bookshop.Elliott Advisors, the UK division of the $34bn (£25bn) activist hedge fund, Elliott Management, run by controversial New Yorker Paul Singer, last week bought Waterstones from Russian billionaire Alexander Mamut in a secretive deal thought
  
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• Pound falls SHARPLY as economy flops in slowest growth in FIVE years

  28-04-2018 16:18 via feedproxy.google.com
  THE pound fell sharply yesterday as the slowest economic growth for over five years dampened expectations for an interest rate rise next month.
  
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• Bitcoin price: Cryptocurrency analyst reveals WHY bitcoin is likely to SURGE

  28-04-2018 15:01 via feedproxy.google.com
  BITCOIN price surged by 30 percent in April following a price slump – but financial analyst Carter Worth discovered a long-term pattern in the cryptocurrency which indicates the price could continue to rally.
  
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• Sainsbury's and Asda in shock talks over £10bn merger deal

  28-04-2018 14:40 via theguardian.com
  New supermarket group would have 31.4% market share, compared with Tesco’s 27.6%Sainsbury’s and Asda are in talks over a £10bn merger that would send shockwaves through the high street by creating a retailer more powerful than the current market leader, Tesco.
  A tie-up between the UK’s second- and third-largest supermarket chains would create a new group with huge share of the market in food, clothing, household goods and toy retailing.Continue reading...
  
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• What is the new tax code for 2018? What does 1185L mean and what are the other tax codes?

  28-04-2018 14:29 via feedproxy.google.com
  THE new tax year began on April 5 and so employees will be receiving their first pay-slip with a new tax code this April, but what is the new tax code for 2018/19 and what does it mean?
  
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• Bitcoin price: CoinDesk boss says bitcoin likely to remain STRONGEST player in crypto

  28-04-2018 11:47 via feedproxy.google.com
  BITCOIN price has begun to recover overnight hitting a 40-day high earlier this week – with CoinDesk Director of Research Nolan Bauerle suggesting the cryptocurrency will continue to be strong despite a series of slumps.
  
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• Life insurance: How our family tragedy led to a financial crisis

  28-04-2018 08:00 via theguardian.com
  No one knows how my wife died, but I’m left with two children and a policy that won’t pay outA Cornwall-based man whose 48-year-old wife died in tragic circumstances has described the struggle to get their life insurer to pay out on a £340,000 policy – and the terrible impact it has had on his family’s finances.Michael Leatherbarrow, whose wife Corinne died last October after falling from local cliffs, says repeated delays by Royal London have exacerbated his proble
  
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• Inheritance tax: can it be the answer to wealth inequality?

  28-04-2018 08:00 via theguardian.com
  Reports say we should use it to redistribute between generations – could we ever grow to love it?It is Britain’s most hated tax, yet hardly anyone pays it. Until recently, this paradox appeared to make raising more money from inheritance tax a no-go zone. Yet leading thinktanks are now talking about it as a way to deal with some of the most burning questions on the minds of middle-class families.Baby boomers have unprecedented stashes of wealth tied up in their properties, yet their
  
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• Do retirement villages live up to the glossy hype?

  28-04-2018 08:00 via theguardian.com
  The brochures promise a ‘first class’ lifestyle, but buying there may not make sense financiallyDenise Eede’s parents were among the pioneers of a new form of housing when they bought a flat in Britain’s first privately owned US-style retirement community, a 28-acre complex outside a leafy Surrey village. Her parents loved their life there – their two-bed flat was all the space they needed, and they enjoyed the full range of activities on offer. They had no complain
  
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• Do I need to buy an RFID-blocking wallet?

  28-04-2018 08:00 via theguardian.com
  Some claim they can stop your contactless cards being scanned – or is it just scaremongering?Every week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.This week’s question: Continue reading...
  
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• ‘I don’t see why cost should be a barrier to flying and owning planes’

  28-04-2018 07:30 via theguardian.com
  Aerobatics ace Emily Collett on how saving cash has enabled her to pursue her passionAll my life I have wanted to fly and most of my life has been structured round realising my dream.We didn’t have a huge amount of money when I was growing up and I couldn’t afford flying lessons, but I found ways to overcome that. My grandmother bought me a flying session for my 14th birthday and straight after that I wrote to aviation organisations to find out about scholarships. I also began offeri
  
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• Warning signs for TSB's IT meltdown were clear a year ago – insider

  28-04-2018 07:00 via theguardian.com
  Expert ‘could have put money on rollout being a disaster, with evidence of major code changes on the hoof’The banking software at the heart of TSB’s troubles this week was doomed to failure from the start, an insider with extensive knowledge of the systems involved has said.With customers locked out of their bank accounts, mortgage accounts vanishing, small businesses reporting that they could not pay their staff and reports of debit cards ceasing to work, the TSB computer cris
  
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