Financial news

• Millennials need a fairer society, not a £10k handout | Letters

  09-05-2018 18:49 via theguardian.com
  Readers respond to the Resolution Foundation’s proposal to give £10,000 to 25-year-olds in a bid to reduce intergenerational inequalityThe Resolution Foundation’s recommendation to give £10,000 to all young people when they turn 25 (Report, 8 May), irrespective of income, may make a small contribution to reducing generational inequalities, but it is also highly likely to increase inequality. For those young people who are already well off, it will provide additional famil
  
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• BMW to recall more than 300,000 cars in UK over stalling risk

  09-05-2018 16:15 via theguardian.com
  BBC investigation shows electrical fault could affect more cars than thought in 2017BMW is recalling more than 300,000 cars in the UK because of an electrical fault that has caused some vehicles to cut out.The German carmaker had issued a safety call covering about 36,000 petrol vehicles last year but has extended it after acknowledging the fault could affect more cars. Continue reading...
  
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• Airbus space contract will move from UK to continent due to Brexit

  09-05-2018 15:13 via theguardian.com
  Work for ground control of new EU satellite navigation system, Galileo, will go to France or Germany if Airbus wins bidA potential €200m contract between the European Space Agency and Airbus in Portsmouth will be moved to the continent because of Brexit, the managing director of Airbus said on Wednesday.
  Airbus will move all the work for the ground control for the new EU satellite navigation system, Galileo, from the UK to France or Germany should it win the bid. Continue reading...
  
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• Sunrise care homes group to pay £2m compensation over upfront fees

  09-05-2018 13:00 via theguardian.com
  Residents paid thousands of pounds without being told what the money would be used forThe care homes group Sunrise Senior Living has agreed to pay £2m in compensation to former residents for charging upfront fees without making it clear what the money would be spent on.Residents who have paid the fees since 1 October 2015 and left one of the company’s homes within two years will be eligible to receive an average payout of £3,000, after an investigation by the competition watchd
  
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• Why was getting a new Vax battery such a vexing experience?

  09-05-2018 07:59 via theguardian.com
  What’s the use of six-year guarantee on my vacuum cleaner, if I can’t replace the battery?In December 2014 I bought a Vax Life cordless vacuum cleaner, with a six-year written guarantee. As its battery life is gradually shortening, I attempted to buy a spare, only to be told that the unique design of battery is no longer available. It looks like a functioning cleaner is destined for the tip.Continue reading...
  
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• Use excess wind and solar power to produce hydrogen – report

  09-05-2018 01:01 via theguardian.com
  With more electricity often generated than needed the excess could be utilised to generate the green power sourceGreen energy would be boosted if excess electricity from wind and solar farms was used to produce hydrogen for use in heating and other parts of the energy system, according to engineers.Renewables were the UK’s second biggest source of electricity in the last three months of 2017, and now provide about a third of the country’s power at certain times of day. Continue readi
  
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• UK retailers suffer sharpest sales drop for 22 years in April

  09-05-2018 01:01 via theguardian.com
  British Retail Consortium’s latest health check shows 3.1% fall, the biggest dip since its survey launched in 1995Britain’s retailers suffered the sharpest drop in business in more than two decades last month as bad weather, the squeeze on household budgets and the timing of Easter led to a hefty cut in consumer spending.In the latest evidence of the slowdown in the economy since the turn of the year, the latest health check from the British Retail Consortium (BRC) and KPMG found tha
  
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