Financial news

• Northern and GTR could be barred from rail franchises

  04-06-2018 19:59 via theguardian.com
  Minister says rail operators were ‘not sufficiently prepared’ and announces inquiry into timetable chaosThe operators of Govia Thameslink Railway and Northern rail could be banned from bidding for future franchises if they are found to be at fault for the chaos inflicted on passengers over the past two weeks, the transport secretary has said.Chris Grayling also announced an inquiry into the timetable fiasco that has left passengers in northern and south-east England facing widespread
  
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• The railway arch sell-off and timetable chaos | Letters

  04-06-2018 19:02 via theguardian.com
  Readers air their views on recent news stories about Britain’s railwaysThank you for highlighting our plight (Rail sell-off puts firms under the arches at risk, 2 June). This sale must be stopped. These arches are a national asset and should be managed with care so that rental money can be ploughed back into maintaining the rail system, not sold off – with what will probably be disastrous consequences – like so much of the UK family silver.But something must be done about Netwo
  
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• How student loan companies pretend to be your friend

  04-06-2018 18:44 via theguardian.com
  Private lenders are using free movies and happy hours to entice people to refinance their student debtAre you one of the 44 million Americans drowning in student loans you fear you’ll never pay back? Worried that you’ll be in the red for the rest of your life? Well, why not forget about your spiralling debt by kicking back and watching a movie! This month, banking company Laurel Road announced that if you refinance your student loan with them, they will give you a year’s member
  
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• Rail Q&A: Northern and Thameslink train chaos explained

  04-06-2018 18:42 via theguardian.com
  Hundreds of trains have been cancelled or delayed, causing mass disruption across servicesTwo of Britain’s biggest franchises, Govia Thameslink Railway (GTR) and Northern, have seen hundreds of trains cancelled daily, with many more severely delayed, disrupting the lives of hundreds of thousands of passengers who rely on their services.Continue reading...
  
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• Aunt Bessie’s to be sold to Birds Eye owner in £210m deal

  04-06-2018 14:59 via theguardian.com
  Yorkshire-based firm sells brand to investment group that also bought Goodfella’s pizza The UK company behind Aunt Bessie’s frozen Yorkshire puddings and roast potatoes is to be sold to the owner of Birds Eye, Findus and Goodfella’s Pizza in a £210m deal.Nomad Foods, which is listed on the New York Stock Exchange, is buying the business from William Jackson Food Group, a 167-year-old family company based in Yorkshire.Continue reading...
  
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• Monsanto to ditch its infamous name after sale to Bayer

  04-06-2018 14:42 via theguardian.com
  Activists say deal is ‘marriage made in hell’, creating world’s most powerful agribusinessThe Monsanto company name, which has become synonymous with genetically modified food and as a longstanding target of environmental activists, will disappear after the completion of its $63bn (£47bn) sale to the German company Bayer on Thursday.Bayer, a pharmaceuticals and chemicals giant, said on Monday it would immediately retire the 117-year-old Monsanto brand name. “Bayer w
  
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• MPs and lawyers defend Lush against 'spycops' backlash

  04-06-2018 14:31 via theguardian.com
  Victims, union leaders and politicians including John McDonnell sign letter of supportWe stand with Lush in campaign for full disclosure – letterLeading politicians, lawyers, union officials and victims of the undercover policing scandal have all signed a letter defending the cosmetics retailer Lush over criticism of the company’s campaign to raise awareness of the issue.The shadow chancellor, John McDonnell, who was once spied on by police, is among 67 individual signatories to the
  
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• Microsoft is buying code-sharing site GitHub, say reports

  04-06-2018 13:56 via theguardian.com
  Company is changing its focus from the Windows operating system to tools for developersMicrosoft is reportedly buying the code-sharing site GitHub, a developer-focused startup that has become a crucial part of the programming industry since it was founded in 2008.The acquisition would mean Microsoft further cementing its role as a company built around tools for developers, part of a pivot away from its flagship Windows operating system started by its chief executive, Satya Nadella, four years ag
  
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• UK construction industry dealt blow by high street closures

  04-06-2018 13:48 via theguardian.com
  Builders get back to work after bad weather earlier this year, but new orders continue slideHigh street store closures are adding to the mounting problems facing Britain’s construction industry, despite a modest uplift from good weather over the past month.While the industry continued to stage a modest recovery in May after bad weather earlier this year, reduced demand from struggling retailers was one reason cited by the latest IHS Markit/CIPS purchasing managers survey for the fourth dec
  
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• Want to avoid cowboy builders? Here’s how to find a reliable one

  04-06-2018 13:43 via theguardian.com
  We examine how the main websites that list tradespeople measure upForget sun, sand and sea. For many, this summer will be all about skips, cement and the builder’s drill. For those planning home improvements, the key question will be where they can find a reliable tradesperson.Some 45,000 people called Citizens Advice last year seeking help with their home improvement and maintenance problems, and the Federation of Master Builders estimates cowboy contractors cost the UK economy &poun
  
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• Eurozone investor confidence slides, as Brexit hits UK construction - business live

  04-06-2018 13:14 via theguardian.com
  All the day’s economic and financial news, as G7 ministers blast America over president Trump’s tariffsLatest: Eurozone investor morale index hits 20-month lowUK construction PMI: Brexit hitting buildersG7 finance ministers: US are undermining global trade
  France: It’s more like G6 +1No progress in US-China trade talksEuropean stock markets are up this morning 12.14pm BST Newsflash: Where there’s puds, there’s brass!Aunt Bessie’s significantly expands our pres
  
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• Virgin Money receives improved offer from Clydesdale Bank owner

  04-06-2018 10:37 via theguardian.com
  Boards begins talks to create UK’s sixth-largest bank, with 6 million customersThe owner of Clydesdale and Yorkshire banks has improved its £1.6bn offer for rival Virgin Money in an attempt to create Britain’s sixth-largest bank, with 6 million customers.Clydesdale and Yorkshire Bank Group (CYBG) is offering Virgin shareholders a larger stake in the combined group – 38% compared with 36.5% under the initial offer – prompting Virgin to enter into negotiations with it
  
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• Markets rally despite rising trade war tensions - business live

  04-06-2018 08:57 via theguardian.com
  All the day’s economic and financial news, as G7 ministers blast America over president Trump’s tariffsG7 finance ministers: US are undermining global trade
  France: It’s more like G6 +1 7.57am BST France’s finance and economy minister was particularly scathing about America’s new tariffs on certain imports.“It has been a tense and tough G7 - I would say it’s been far more a G6 plus one than a G7.“We regret that our common work together at the level
  
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• My landlord is increasing the rent by 50% – what can I do?

  04-06-2018 08:31 via theguardian.com
  My 31-year-old bookshop is at risk after a £2,500 rise that is more that I can manageSince 1987, I have run Adelphi Books, a small second-hand bookshop in Southsea, Hampshire. That is a total of 31 years, during which time I have paid about £100,000 in rent. Every three years there is usually a rent review, which results in an increase. The last one was 5%, from £5,000 a year to £5,250. This year, the proposal is a rise of £2,500, which is almost a 50% increase and
  
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• My boyfriend owns a caravan – can he still use a lifetime Isa to buy a home?

  04-06-2018 08:00 via theguardian.com
  The caravan is non-residential so I am wondering if he qualifies as a first-time buyer
  Q My boyfriend and I are thinking of buying a house in the future. I have therefore opened a lifetime Isa so I can benefit from the first-time buyer bonus that comes with it. My boyfriend, however, owns a holiday caravan. It’s non-residential as it is on a park that’s only open for a season and not the entire year, and there’s a maximum 28-consecutive-day stay policy. Continue reading...
  
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• Looking for a reliable builder online? Here’s where to find one

  04-06-2018 08:00 via theguardian.com
  The main websites that list tradespeople use different criteria to vet them. We look at how they measure upForget sun, sand and sea. For many, this summer will be all about skips, cement and the builder’s drill. For those planning home improvements, the key question will be where they can find a reliable tradesperson.Some 45,000 people called Citizens Advice last year seeking help with their home improvement and maintenance problems, and the Federation of Master Builders estimates cow
  
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• Rail fares could be simplified under ticketing shake-up

  04-06-2018 07:00 via theguardian.com
  Combining peak and off-peak fares and reducing e-ticket prices are options outlined in new consultationRailway passengers could choose to pay more to travel on “reliable and comfortable trains” under a radical shake-up of rail ticketing being planned by the industry.Combining peak and off-peak fares into a new “flat fare” structure so passengers are charged the same during busier and quieter periods, and reducing prices for e-tickets but charging more for paper tickets, a
  
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• No strong business case for ditching EU rules, says thinktank

  04-06-2018 07:00 via theguardian.com
  UK should accept regulations in return for strong market access, argues Open EuropeBritain should accept continued EU regulations in goods in return for retaining access to the EU single market, one of the thinktanks closest to Downing Street has proposed.After consultations across business and politics, a report from Open Europe concludes: “There is no strong business case for immediate significant divergence from the EU’s regulatory regime.” It says adherence to EU standards
  
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• Amazon delivery firms face legal action over workers' rights

  04-06-2018 01:01 via theguardian.com
  GMB union is demanding gig economy drivers get sick pay and national minimum wageDrivers delivering goods for Amazon are to fight for better employment rights, including sick pay, holiday pay and the national minimum wage.The GMB union announced on Monday that it is taking legal action on behalf of members working for three delivery firms used by Amazon, arguing that the companies wrongly classed them as self-employed.Continue reading...
  
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• UK manufacturing has lost 600,000 jobs in a decade, says union

  04-06-2018 01:00 via theguardian.com
  Every region has been hit, says GMB – with London, Scotland and north-west worst affectedBritain’s manufacturing sector has shrunk in the past decade by almost 600,000 jobs to leave fewer than 3 million workers employed in the sector.A study by the GMB union found that every region in the UK has suffered a decline in manufacturing employment over 10 years, with London, Scotland and the north-west the worst affected. Continue reading...
  
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