Financial news

• New UK business visa will accept people without degrees

  12-06-2018 23:30 via theguardian.com
  Policy will launch next spring but experts say few people will benefit from changeForeign entrepreneurs could find it easier to come to the UK to set up businesses after the government confirmed plans to introduce a new startup visa, which it said would begin welcoming people without a university education and improve the application process.The announcement came in the wake of Theresa May, the architect of the “hostile environment” immigration policy, defending her government’
  
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• Deliveroo chases Just Eat with plan to sign up 5,000 UK eateries

  12-06-2018 23:30 via theguardian.com
  Move comes months after Just Eat confirmed shift in strategy to launch its own delivery fleetDeliveroo is planning to expand in the UK this year by signing up 5,000 eateries who use their own delivery fleets in a direct challenge to Just Eat.Until now, only restaurants that agreed to use Deliveroo’s network of 15,000 couriers could be listed on the fast-growing takeaway app. Continue reading...
  
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• Bitcoin price today: Crypto falls to lowest price since February – Why is BTC falling?

  12-06-2018 23:26 via feedproxy.google.com
  BITCOIN has suffered its worst day since February as the price tumbled, prompting fresh fears about the long-term viability of cryptocurrencies. So why is BTC falling?
  
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• Tesla to cut 9% of staff as Elon Musk's electric car company seeks profitability

  12-06-2018 21:36 via theguardian.com
  CEO says thousands of job losses are part of a ‘difficult, but necessary’ restructuring
  Tesla is slashing thousands of jobs, its chief executive, Elon Musk, announced Tuesday, as the electronic car company attempts to hit production targets and reach profitability. Musk called the job cuts, which will affect about 9% of the company’s more than 40,000 employees, “difficult, but necessary” in a tweet that contained the email he had sent to employees announcing the lay
  
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• Senior PwC auditor of BHS accounts faces 15-year ban and hefty fine

  12-06-2018 21:24 via theguardian.com
  Watchdog also expected to fine PwC £6.5m after collapse of department store chainThe senior PricewaterhouseCoopers accountant who audited BHS’s accounts ahead of its sale for £1 just a year before the department store chain collapsed is facing a 15-year ban and six-figure fine from the industry watchdog.Steve Denison, who spent more than 30 years at PwC according to his LinkedIn profile, becoming a partner, is understood to have been facing a £500,000 fine from the Financ
  
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• WPP won't comment but a word of apology would not go amiss | Nils Pratley

  12-06-2018 20:21 via theguardian.com
  Martin Sorrell’s ‘at will’ contract and a missing no-compete clause are hard to excuse WPP shareholders should prepare to feel frustrated. Wednesday’s annual meeting will also be a convention of lawyers, on hand to ensure chairman Roberto Quarta doesn’t utter a morsel of information about the findings of the board’s investigation into allegations of personal misconduct against former chief executive Sir Martin Sorrell. But let’s hope Quarta, amid his &ld
  
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• Domino's branded potholes appear after pizza company takes to road repair

  12-06-2018 19:16 via theguardian.com
  The company say their infrastructure project will prevent pizza being damaged in transitIn December, a crew of workers in Bartonville, Texas, set about fixing the potholes in the town. They filled in eight holes, and at the end of a hard day’s work they shared a couple of pizzas. There was nothing particularly remarkable about the job, except for the logo painted on the side of the equipment, on the cones used to stop traffic and even spray-painted on the freshly laid asphalt: Domino&rsquo
  
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• Darkness, death and decay: the eerie appeal of the ghost town

  12-06-2018 18:35 via theguardian.com
  An abandoned settlement in Cerro Gordo, California, could be yours for $1m. But why are we so fascinated by these deserted locations?For a cool $1m (£750,000) you can own your own ghost town. That figure will buy you an entire abandoned settlement, the former mining town of Cerro Gordo in the Inyo Mountains of California: 300 acres of land, an empty hotel, a saloon, a chapel and the homes of miners who once dug for silver and lead. In the 1870s, it was a violent place that averaged a murde
  
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• Christian Louboutin wins ECJ ruling over red-soled shoes

  12-06-2018 18:23 via theguardian.com
  Decision against Dutch firm is key victory for brand in long-running trademark battleChristian Louboutin has won a key legal case in a long-running battle to protect its signature red soles from copycats. On Tuesday, the European court of justice (ECJ) ruled vanHaren, a Dutch company, had infringed the brand’s trademark by selling a range of red-soled shoes.Continue reading...
  
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• Fall in UK wage growth reduces pressure for interest rate rise

  12-06-2018 18:16 via theguardian.com
  Workers’ pay packets still increasing slowly despite fresh fall in unemploymentThe prospect of a summer increase in interest rates from the Bank of England has receded after the latest official figures showed a fall in wage inflation despite a fresh drop in unemployment.A near-stalling of the economy in the first quarter of 2018 failed to halt jobs growth but had an impact on earnings growth, which edged lower in the three months to the end of April, according to the Office for National St
  
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• Ben & Jerry's joins the campaign to support onshore windfarms

  12-06-2018 17:17 via theguardian.com
  With names like Strawberry Breezecake and Cherry Gale-cia, ice-cream maker pushes for government re-thinkTubs of Strawberry Breeze-cake, Cherry Gale-cia and other wind-themed ice-creams will feature in a campaign by Ben & Jerry’s to persuade the government to rethink its opposition to onshore windfarms.The renamed flavours will be sold at half price on “windy Wednesdays” to support a pro-renewables push by the Unilever-owned firm, which has a history of campaigning on clima
  
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• Yahoo fined £250,000 for hack that impacted 515,000 UK accounts

  12-06-2018 16:53 via theguardian.com
  ICO says firm ‘failed to prevent’ 2014 Russia-sponsored hack after 500m accounts compromisedYahoo has been fined £250,000 over a hack from 2014 that affected more than 515,000 UK email accounts co-branded with Sky, the Information Commissioner’s Office has announced.The personal data of 500m user accounts worldwide was compromised during a state-sponsored cyber attack in 2014, which was only revealed in 2016. The stolen data included names, email addresses, telephone numb
  
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• US inflation hits six-year high; UK wage growth slows - as it happened

  12-06-2018 16:45 via theguardian.com
  British pay growth has fallen to 2.8% per year, but the employment rate is the highest since records beganLatest: US inflation has jumped to 2.8%Earlier:Basic UK wage growth has fallen to 2.8%
  But employment is 75.6%, a record highGovernment hails job creation....Unions: Wage growth is too lowUK bosses report rising pessimism 3.45pm BST Time for a recap.Wage growth in the UK has slowed, in the latest sign that British households is struggling.The long-term importance of the Korea-U.S. summit is
  
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• Dollar hits three week high and Asian shares grow after Trump Kim summit

  12-06-2018 16:21 via feedproxy.google.com
  THE DOLLAR has hit a three-week high against the yen after President Donald Trump’s meeting with North Korea’s leader Kim Jong-un, which led to both signing an agreement for denuclearisation of the Korean Peninsula.
  
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• WPP boss tells staff to 'expect respect' as group launches review

  12-06-2018 16:15 via theguardian.com
  Mark Read tipped to succeed Sir Martin Sorrell, who quit amid allegations of misconductThe questions WPP’s board can expect to face over Sir Martin SorrellWPP directors are braced for a chastening showdown with investors over their handling of the resignation of Sir Martin Sorrell, whose departure from the empire he ruled for 33 years has triggered lurid allegations of personal misconduct.The world’s largest advertising company will face protest votes at Wednesday’s annual meet
  
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• Pound v euro: Exchange rate stagnant after growth in UK wages slows

  12-06-2018 16:04 via feedproxy.google.com
  The GBP/EUR exchange rate is currently at around €1.136, virtually unchanged from this morning’s starting levels, but still down around 0.2 per cent from the week’s opening exchange rate of €1.138. The pound is holding steady against the euro this morning, as markets digest the release of the UK’s latest labour figures.
  
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• Pound v US dollar exchange rate: Sterling rallies despite wage growth slowing

  12-06-2018 15:34 via feedproxy.google.com
  THE pound continued to rally against the US dollar on Tuesday morning, hitting highs of $1.3419 despite fresh signs of slowing wage growth in the UK.
  
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• New Look fashion chain slumps to massive annual loss

  12-06-2018 15:12 via theguardian.com
  Loss of £235m ends tumultuous year that included return of its former bossThe struggling New Look fashion chain has plunged to a huge annual loss of nearly £235m after a tumultuous year, which included the return of its former boss Alistair McGeorge to attempt a second turnaround of the heavily indebted chain.“There was no way I could stop these numbers happening, it was preordained by the time I joined,” McGeorge said.Continue reading...
  
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• What can I do about ‘copycat’ websites?

  12-06-2018 09:27 via theguardian.com
  I went to renew my driving licence online and a website tried to charge me just under £70 I am about to turn 70 and went to order my new driving licence online. The first website which popped up tried to charge me just under £70. Luckily, I realised I was being scammed but I am surprised such websites are still able to con people. How can they get away with it?ME, Leigh-on-Sea, EssexContinue reading...
  
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• Poundworld is latest high street casualty

  12-06-2018 08:24 via feedproxy.google.com
  THOUSANDS of people are at risk of losing their jobs after discount chain Poundworld plunged into administration yesterday. Poundworld is the latest casualty on the British high street after efforts to secure a last minute buyer failed.
  
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• Financial CRASH WARNING: Signs showing world could be on brink of CRISIS

  12-06-2018 06:40 via feedproxy.google.com
  A GLOBAL financial crash could be just around the corner as red flags and early warning signs begin to present themselves, a top asset manager has predicted.
  
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• Land Rover Discovery line moved to Slovakia

  12-06-2018 06:32 via feedproxy.google.com
  JAGUAR Land Rover is to end production of its Discovery model in the West Midlands and shift the work to a new factory in Slovakia. The move by Britain’s biggest carmaker from early next year puts at risk the roles of hundreds of agency staff at its Solihull factory.
  
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• UK economy shows greatest signs of stress since 2012

  12-06-2018 01:01 via theguardian.com
  Downturn evidence mounts as poll has employer pessimism at highest for six yearsThe British economy is showing the greatest signs of stress since the eurozone crisis and fears of a double-dip recession six years ago, as worrying reports show the steepest fall in manufacturing output and the greatest degrees of pessimism among employers since 2012.Concerns over Brexit and a slowdown for high street spending are among the major factors contributing towards 2018 being the worst time in six years fo
  
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• Adult social care services on brink of collapse, survey shows

  12-06-2018 01:01
  Some councils in England ‘cannot go on’ without long-term funding to underpin careSocial care services for vulnerable adults are on the verge of collapse in some areas of England, despite the provision of extra government funding, senior council officials have warned.
  The fragile state of many council social care budgets – coupled with growing demand for services, increasing NHS pressure, and spiralling staff costs – is highlighted in research by the Association of Direct
  
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