Financial news

• General Motors warns Trump: tariffs could lead to 'smaller GM' and fewer jobs

  29-06-2018 22:25 via theguardian.com
  Car giant, which employs 180,000 people worldwide, follows Harley-Davidson in warning Trump that tariffs policy is mistakeGeneral Motors warned on Friday that expansive US tariffs on imported vehicles being considered by the Trump administration could lead to “a smaller GM” and risks isolating US businesses from the global market. Related: Biggest US trade groups warn Trump of 'serious negative impacts' of tariff planContinue reading...
  
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• PwC hangs up on landlines in shift to ‘mobile first’ culture

  29-06-2018 18:18 via theguardian.com
  Firm says removal of landlines from staff desks reflects changing working practicesThe “big four” accountancy firm PricewaterhouseCoopers is to remove all landlines from office desks by the end of the summer, reflecting a shift to mobile phones.PwC, which has 24 offices across the UK employing about 18,000 people, said the shift to a “mobile first” culture made sense in the modern working environment. Continue reading...
  
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• Let’s move to Surrey Quays, London

  29-06-2018 17:30
  It’s quiet and relatively affordable right now – but about to get very busyWhat’s going for it? This corner of south-east London has been “regenerated” once before. In the 1980s, red-braced developers magicked what was once Surrey Commercial Docks into the quainter-sounding Surrey Quays, eradicating the embarrassing past of manual labour with a Thatcherite Alphaville of suburban yellow-brick houses, cul-de-sacs and Frankie & Benny’s. It was a banal vision
  
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• Oxford buses turn to Uber-style apps in on-demand experiment

  29-06-2018 16:23 via theguardian.com
  Passengers can summon a minibus to and from any street corner in eastern half of cityMeet the new bus: not quite the same as the old bus. With echoes of the Latin American colectivo or Israeli sherut but in super-smart vehicles networked by Uber-style apps, on-demand services are popping up in cities around Britain – with the big transport companies unshackling their buses in the hope of driving cars off the roads.The biggest on-demand experiment yet launched this week in Oxford, where pas
  
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• World Cup 2018: Greene King hopeful for England sales boost

  29-06-2018 15:13 via feedproxy.google.com
  GREENE King is aiming to score an unexpected sales boost from England’s march towards the World Cup knock-out stage after a slump in annual profit.
  
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• From G&T to Earl Grey tea: a new wave of ice lollies for grownups

  29-06-2018 15:13
  We sample the latest posh popsicles to find out which are cool – and which fail the taste testWe’ve had posh chocolate, premium mixer drinks, artisan gin and craft beer – now ice lollies have become the latest target of a foodie makeover. Whereas the choice used to be standard fruit flavours such as strawberry and orange in bright colours and novelty shapes, a wave of new British food brands have begun serving up “gourmet lollies” aimed at adults, with adventurous f
  
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• Bitcoin price update: BTC FALLS - Will bitcoin continue to fall? Is the BOOM over?

  29-06-2018 15:07 via feedproxy.google.com
  EXCLUSIVE: BITCOIN prices suffered another slump today, dropping down well below $6,000 with prices expected to fall further. Will Bitcoin continue to fall?
  
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• Greece to need MORE debt relief as IMF thinks it will FAIL to meet growth forecasts

  29-06-2018 14:19 via feedproxy.google.com
  GREECE may need MORE debt relief according to the International Monetary Fund as it fears Athens will fail to meet its “very ambitious” economic growth forecasts.
  
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• Bitcoin price LIVE: BTC $5k SLUMP - Barclays predict 'ROUT' from 'current trading levels'

  29-06-2018 13:59 via feedproxy.google.com
  BITCOIN has sunk to $5k after another overnight drop. With the Bank of England sending a clear warning to potential institutional investors yesterday, Barclays Bank have now claimed that prices will fall further and, "the rout in crypto currencies is still not finished."
  
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• Stagecoach slashes its dividends after taking £85.6 million hit on East Coast rail line

  29-06-2018 12:55 via feedproxy.google.com
  STAGECOACH has cut its dividends to investors by 35 per cent as it took an £85.6 million hit after losing a contract to run the East Coast rail line.
  
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• Tell us: do you work in retail and are affected by redundancies?

  29-06-2018 12:43
  Have you lost your job, or is it at risk? We’d like to hear from those working in retail about their experiences
  The last few weeks have seen the announcement that at least 11,000 jobs could be lost, as House of Fraser prepares to close over half of it’s UK stores, Poundworld confirms closing down sales across the country and M&S face financial trouble. The majority of House of Fraser’s staff, 76%, are female, most of whom are in non-senior, part-time roles, i.e. on the sho
  
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• JCB to create over 200 jobs with £50 million investment in new British plant

  29-06-2018 12:36 via feedproxy.google.com
  JCB will create over 200 jobs by investing £50 million in a new British plant.
  
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• Deutsche Bank FAILS stress test as 'malfunctioning' giant shocks experts

  29-06-2018 12:25 via feedproxy.google.com
  DEUTSCHE Bank’s demise has gathered pace after its US wing dramatically failed the US Federal Reserve’s annual stress tests due to “widespread and critical deficiencies” which could cause chaos if the global finance system lurched back towards a 2008-like crisis.
  
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• Pound US dollar exchange rate: GBP rallies as GDP data beats forecasts

  29-06-2018 12:14 via feedproxy.google.com
  THE pound has shot up by 0.8 per cent against the US dollar today, hitting an exchange rate of $1.317.
  
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• Pound rises as UK growth is revised up - business live

  29-06-2018 11:46 via theguardian.com
  The pound rises against the dollar after UK growth in the first quarter of 2018 is revised up to 0.2% from 0.1%Euro jumps against dollar after EU leaders agree migration dealEU leaders hail summit victory on migration but details scant
  BAE Systems wins £20bn Australian warship contract 10.46am BST The number of mortgages approved for house purchase rose to a four-month high of 64,526 in May, according to figures from the Bank of England.It was up from 62,941 in April and beat economists ex
  
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• Pound euro exchange rate: GBP unmoved as EU leaders agree to migration deal

  29-06-2018 11:40 via feedproxy.google.com
  THE pound euro exchange rate is currently at €1.130, with the pairing virtually unchanged from this morning’s opening levels.
  
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• BP to buy Britain’s biggest electric vehicle charging company Chargemaster

  29-06-2018 11:23 via feedproxy.google.com
  BP is set to buy Britain’s biggest electric vehicle charging company for £130 million.
  
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• Stagecoach game for rail franchises despite east coast line debacle | Nils Pratley

  29-06-2018 10:48 via theguardian.com
  Not even a shareholder dividend cut of 35% can dissuade bosses from re-biddingIf you’ve just written off the thick end of £200m on a single job, a sum equivalent to 25% of your company’s now-reduced stock market value, you might prefer to run away from more work in the same line of business. Not Stagecoach.The first set of annual figures since the east coast mainline debacle delivered a thumping 35% dividend cut to shareholders but chief executive Martin Griffiths championed &l
  
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• Euro rallies after EU leaders agree migration deal - business live

  29-06-2018 09:46 via theguardian.com
  The euro surged 0.7% against the dollar to $1.1650 after leaders in Brussels struck a deal on migrants, easing investor fears of political instability in EuropeEU leaders hail summit victory on migration but details scant
  BAE Systems wins £20bn Australian warship contract 8.46am BST Downing Street says BAE Systems’ Australian shipbuilding win is the biggest Naval defence contract for a decade.PM @theresa_may has welcomed a shipbuilding contract worth up to £20 billion between B
  
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• Homes with tennis courts for sale – in pictures

  29-06-2018 08:00 via theguardian.com
  As Wimbledon nears, we serve up five properties where a game is always on handContinue reading...
  
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• MP warns Bank of England over lack of diversity in senior staff

  29-06-2018 07:01 via theguardian.com
  Treasury select committee chair, Nicky Morgan, says it would monitor progressA committee of MPs has warned the Bank of England that it could block the appointment of male candidates to its main policymaking committees to arrest a decline in female representation.In the first known example of MPs threatening to reject candidates for senior public sector jobs to improve diversity, the Treasury select committee said it would look at the progress made by Threadneedle Street in appointing more women
  
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• Hundreds of cash machines close as UK turns to contactless payments

  29-06-2018 07:01 via theguardian.com
  Which? says ATMs around the country are shutting down and rural operators are worst hitCash machines around the UK are closing at a rate of 300 every month, with rural communities worst hit, according to an analysis by Which?.Almost 1,500 machines on the Link network shut down between November 2017 and April 2018, partly because the dramatic increase in contactless payments for small transactions is making cash less necessary.Continue reading...
  
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• The great firewall of China: Xi Jinping’s internet shutdown

  29-06-2018 07:00 via theguardian.com
  Before Xi Jinping, the internet was becoming a more vibrant political space for Chinese citizens. But today the country has the largest and most sophisticated online censorship operation in the world. By Elizabeth C EconomyIn December 2015, thousands of tech entrepreneurs and analysts, along with a few international heads of state, gathered in Wuzhen, in southern China, for the country’s second World Internet Conference. At the opening ceremony the Chinese president, Xi Jinping,
  
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• 'Resounding victory': Australia wins tobacco plain packaging dispute

  29-06-2018 01:30 via theguardian.com
  WTO rejection of challenge seen as global test case could lead to tighter rules for unhealthy foods and alcohol
  Australia has triumphed in a major trade dispute over its tobacco plain packaging law, with World Trade Organisation judges rejecting a complaint brought by Cuba, Indonesia, Honduras and the Dominican Republic. The WTO panel said Australia’s law improved public health by reducing the use of tobacco products, rebuffing claims that alternative measures would be equally effective. I
  
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• Poorer areas of England have more fast-food shops, figures show

  29-06-2018 01:01 via theguardian.com
  Health agency calls on councils to consider imposing limits to help reduce obesityAlmost half of the fast-food outlets in England are in the most deprived parts of the country, figures show, raising fresh concerns about child obesity in poorer areas. The most affluent 10% of England is home to just 3% of fast-food restaurants, chip shops and burger bars, and the poorest decile has 17%, according to the data from Public Health England (PHE).Continue reading...
  
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• London house price growth at nine-year low amid Edinburgh and Manchester spurt

  29-06-2018 01:01 via theguardian.com
  Aberdeen and Cambridge were only two of 20 cities with price fall over past year – surveyHouse price growth in London has slowed to a nine-year low, while prices in Edinburgh and Manchester are rising faster than in any other major UK city, according to a survey.The latest UK Cities House Price Index, from the property research firm Hometrack, shows that Aberdeen and Cambridge were the only two out of 20 major cities where house prices were falling over the past 12 months, by 5.7% and 0.9%
  
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• Legalising cannabis could be ‘win-win-win’ for UK, says thinktank

  29-06-2018 01:01 via theguardian.com
  Institute of Economic Affairs says criminalisation has failed and reform could create £1bnMargaret Thatcher’s favourite free-market thinktank has called on the government to legalise cannabis, arguing that the move could generate more than £1bn in extra tax revenues every year, as well as savings in health and other public services.Britain’s black market in cannabis is worth £2.6bn annually, with 255 tonnes sold to more than 3 million people last year, according to
  
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• Britain's BAE Systems wins contract to build Australian warships

  29-06-2018 00:34 via theguardian.com
  Nine Hunter class frigates to be built in Adelaide in $35bn deal hailed by both countriesThe British defence company BAE Systems has won the $35bn (£20bn) contract to build Australia’s fleet of new navy frigates.The Australian government has announced that the company’s Type 26 Global Combat ship will be the design for the naval program. The nine new ships will be built in Adelaide and will be known as the Hunter class. Continue reading...
  
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