Financial news

• Ripple price news: What is the price of Ripple? Is XRP falling?

  04-07-2018 23:04 via feedproxy.google.com
  RIPPLE prices have stabilised slightly after a dismal week of trading saw prices plummet. What is the price of Ripple?
  
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• WPP tells Sir Martin Sorrell it will block future payouts over takeover bid

  04-07-2018 21:37 via theguardian.com
  Firm’s lawyers say Sorrell could ‘breach confidentiality obligations’ if he successfully bids for MediaMonksWPP has sent a legal letter to Sir Martin Sorrell, threatening to prevent its founder and former chief executive collecting up to £20m in future payouts if he pursues a takeover bid for a company it is also seeking to acquire.The company’s law firm, Slaughter & May, has written to Sorrell’s lawyers saying that he is “likely to be in breach of h
  
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• Food fight over Premier – it's hard to pick a winner

  04-07-2018 20:16 via theguardian.com
  Activists want action on an overpaid chief exec, while loyalists plead for more timeThe scrap at Premier Foods, owner of Mr Kipling cakes, Angel Delight and Bisto gravy, is turning into a mini classic. On one side, there is an angry Hong Kong hedge fund, Oasis, that wants to oust Premier’s chief executive; it calls Gavin Darby overpaid and accuses him of overseeing five years of failure at a “zombie-like” company.On the other side, the board argues there are no quick fixes and
  
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• Labour: you need to win hearts and minds in our low-wage towns Larry Elliott

  04-07-2018 19:54 via theguardian.com
  Jeremy Corbyn should be streets ahead in the polls. But his lifestyle policies put off too many people in leave-voting placesPreston, Worksop, Rochdale, Morecambe. The flags draped all over Moscow on Tuesday were like a gazetteer of a particular slice of England. Not London, Manchester, Liverpool, but smaller urban centres. Watch the footage of England’s one and only World Cup win, in 1966, and one of the striking features is that the flags being waved by the cheering supporters were union
  
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• Calvetron Brands winds down with loss of 600 UK jobs

  04-07-2018 19:51 via theguardian.com
  Fashion brand founded in 1972 and sold in 300 outlets fails to attract a viable buyerNearly 600 more retail jobs are to go in the UK as the Jacques Vert, Windsmoor and Precis department store brands are wound down by administrators.Administrators said they had failed to find a buyer for Calvetron Brands, which had been restructured following a rescue deal last summer. The business entered administration in May and had already shed more than 400 jobs before Wednesday’s announcement.Continue
  
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• Ryanair crew could join pilots' strike action over pay and conditions

  04-07-2018 18:11 via theguardian.com
  Representatives say little progress made, as 100 pilots due to walk out on 12 JulyRyanair crew have warned they could join pilots in taking industrial action this summer after presenting the chief executive, Michael O’Leary, with a list of demands.Speaking after a summit in Dublin, representatives of cabin and ground crew from across Europe said there had been little progress since O’Leary reversed a long-held policy of refusing to recognise trade unions more than six months ago. Con
  
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• World Cup and hot weather bolster supermarkets sales

  04-07-2018 17:59 via theguardian.com
  Celebratory mood reflected in sales of beer, barbecue food and ice-creamEngland’s progress in the World Cup – combined with an uninterrupted run of hot weather – is giving UK supermarkets a multimillion pound sales fillip as shoppers stock up with beer, barbecue food and ice-cream.Retailers said their sales reflected the wider celebratory mood, with fans watching the games from home shelling out for football parties and al fresco gatherings before games.Continue reading...
  
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• Bitcoin price news: Has BTC bubble burst? Is bitcoin a 'failed experiment’?

  04-07-2018 17:29 via feedproxy.google.com
  BITCOIN finally managed to stem the losses and post positive results this morning, despite some critics denouncing the cryptocurrency as a ‘failed experiment’. Has bitcoin failed?
  
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• Science Museum under pressure to shun big oil sponsorship

  04-07-2018 17:24 via theguardian.com
  Chris Packham and James Hansen join other scientists in complaint about ethicsThe broadcaster Chris Packham and a a former Nasa expert who led early warnings on climate change are among scientists urging London’s Science Museum to terminate its partnerships with the oil giants BP, Shell and Equinor.Packham and James Hansen are among 30 signatories of a complaint to the museum, arguing it is undermining its scientific credibility by taking money from fossil fuel companies. Continue reading.
  
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• BBC reduces gender pay gap to 8.4%

  04-07-2018 17:22 via theguardian.com
  Broadcaster’s mean gap falls by a fifth in a year, partly due to restructuringThe BBC has reduced the gender pay gap for all its staff to 8.4%, as it prepares to reveal the salaries of its biggest on-screen stars.The broadcaster’s mean pay gap – the difference between the average of all men’s and women’s pay at the organisation – fell by a fifth over the last year, after a concerted push following the publication of last year’s figures. Continue reading.
  
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• Bitcoin price: CEO says bitcoin is likely to hit $20,000 following price SLUMP

  04-07-2018 16:45 via feedproxy.google.com
  BITCOIN has dropped in price in recent months after reaching highs of almost $20,000 in December – but cryptocurrency expert Clem Chambers believes bitcoin could hit its price highs again.
  
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• Bitcoin price LIVE: BTC climbs 10% - Switzerland emerges as world's 'crypto nation'

  04-07-2018 16:28 via feedproxy.google.com
  BITCOIN is heading north and talk can now turn to a $7k return as positive news from Switzerland and South Korea send prices rising 10 percent.
  
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• Asian shares dive as world braces for Trump-China trade war in TWO DAYS

  04-07-2018 16:01 via feedproxy.google.com
  ASIAN shares have slumped to a near nine-month low just days before Donald Trump imposes harsh tariffs on China, sparking a trade war.
  
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• Crumpets back on menu at Warburtons after CO2 shortage

  04-07-2018 15:39 via theguardian.com
  Production resumes at firm’s two affected bakeries as it receives carbon dioxide supplyCrumpets are back on the menu at Warburtons after it restarted manufacturing at two factories hit by a shortage of carbon dioxide, which has affected food and drink production across the UK.Warburtons was last week forced to suspend crumpet production at two of its four bakeries – in Enfield, north London, and Burnley in Lancashire – because it did not have enough gas for use in packaging des
  
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• UK economy picks up speed as service sector growth hits eight-month high - as it happened

  04-07-2018 15:00 via theguardian.com
  All the day’s economic and financial news, as Britain’s services companies report that activity rose at a faster pace in JuneLatest: UK service sector PMI beats forecastsUK economy may have grown by 0.4% in last quarterEurozone growth also picks up, estimated at 0.5% in last quarterEarlier:Introduction: Tariffs come in on Friday
  Stocks fall in China again 2.00pm BST With this, we are closing the blog for the day. Thank you for all your comments, and good-bye – we will be back t
  
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• UK wage growth weakest in G7 since financial crisis - Financial Times

  04-07-2018 14:39
  Financial Times
  UK wage growth weakest in G7 since financial crisis
  Financial Times
  The UK had the weakest wage growth of any G7 country over the past decade, according to the OECD, despite eight years of economic growth and strong employment. The share of people in the UK without a job is now smaller than it was before the financial ...en meer »
  
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• UK economic growth bounces back as services sector expands

  04-07-2018 14:31 via theguardian.com
  Bank of England more likely to increase interest rates as inflationary pressures riseThe UK economy has bounced back from a soft patch in the opening months of 2018, according to a closely watched survey of the services sector that showed stronger than expected activity last month.In the latest sign that bad weather held back the economy during the first quarter, the health check by the Chartered Institute for Procurement and Supply and IHS Markit reported the strongest growth in eight months. C
  
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• China denies it will be first to impose tariffs on $34bn of US goods

  04-07-2018 13:25 via theguardian.com
  Both sides made 6 July tariff threat but 12-hour time difference gives Chinese edgeChina has denied it will fire the opening salvo in an escalating trade dispute with the US, insisting that it would not bring in 25% tariffs on $34bn (£26bn) of American goods before a move from Washington.Both sides have threatened to impose similarly sized tariffs on 6 July, but because of the 12-hour time difference, it was thought the Chinese tariffs on US imports ranging from soybean to stainless steel
  
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• Chinese tycoon Wang Jian dies from fall in France

  04-07-2018 13:21 via theguardian.com
  Police not treating the death of the 57-year-old HNA co-founder as suspiciousThe chairman and co-founder of one of China’s largest conglomerates, HNA, has died from an accidental fall while travelling in France, according to the company.HNA said on Wednesday that Wang Jian, 57, had fallen and died from his injuries on Tuesday in Provence, without providing any more details of his death. Continue reading...
  
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• Pound US dollar exchange rate: GBP steady as UK service sector better than expected

  04-07-2018 12:29 via feedproxy.google.com
  THE pound US dollar exchange rate is currently trading at around $1.322, up by about 0.1 per cent from this morning’s opening levels. The pairing is clinging to the gains made on Tuesday.
  
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• Is Bezos holding Seattle hostage? The cost of being Amazon's home

  04-07-2018 12:00 via theguardian.com
  Amazon is looking for a home for its second headquarters. But in its current home, critics say rising house prices and growing inequality have damaged the cityImage shows Seattle from 2015 to 2017
  However they see Amazon, for good or ill, residents of the fastest-growing city in the US largely agree on the price Seattle has paid to be the home of the megacorporation: surging rents, homelessness, traffic-clogged streets, overburdened public transport, an influx of young men in polo shirts and a c
  
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• Pound euro exchange rate: GBP rises on surprise services PMI growth

  04-07-2018 11:59 via feedproxy.google.com
  THE pound is trading slightly higher against the euro today, rising by 0.1 per cent to an exchange rate of €1.132. This appreciation follows news of a better-than-expected UK services PMI reading for June; beating forecasts for stagnation, the reading has risen from 54 points to 55.1.
  
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• UK car buyers face ‘lottery’ with both ultra-clean and ultra-dirty diesels on sale

  04-07-2018 11:36
  New data suggests worst cars are now 32 times more polluting than the best – risking all diesels being banned from cities, say expertsUltra-dirty new diesel engines are being sold alongside ultra-clean models in the UK, according to new data, leaving car buyers facing what experts call a “nightmare”.On-the-road tests by testing firm Emissions Analytics found that new models of Mercedes-Benz CLS, Seat Arona and Citroen DS 7 produced tiny amounts of pollution, up to 75% below the
  
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• Pay rises faster for top 1% of earners in developed world – report

  04-07-2018 11:00 via theguardian.com
  OECD says wage growth is still ‘missing in action’ across 35 nations it representsPay is rising much faster for the top 1% of earners compared with those on average salaries in the richest countries, according to a report calling on governments to do more to tackle “wageless growth” since the financial crisis. Despite more people being in work than at any time since the onset of the banking crisis a decade ago, the Organisation for Economic Co-operation and Development sa
  
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• Love Island tie-up lifts Superdrug profits

  04-07-2018 09:40 via feedproxy.google.com
  SUPERDRUG’S sponsorship of ITV show Love Island paid off as demand for bronzer, make-up and hair products boosted sales and profits. The high street health and beauty retailer grew annual pre-tax profit by 16 per cent to £92.9 million on 2.3 per cent higher revenue of £1.24 billion.
  
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• Glencore takes a £4bn hit

  04-07-2018 09:24 via feedproxy.google.com
  ABOUT £4 billion was wiped from the value of mining and commodities trading giant Glencore yesterday after US authorities ordered it to hand over documents relating to a money-laundering probe. Shares in the FTSE 100 firm, the world’s biggest mining company, fell 28¼p to 321p after it received a subpoena from the Department of Justice to produce records with respect to compliance with the Foreign Corrupt Practices Act and US money laundering statutes.
  
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• Warning to water companies

  04-07-2018 09:09 via feedproxy.google.com
  WATER companies must link bosses’ pay and shareholder dividends to customer service to rebuild public trust, the industry regulator argues. Ofwat will assess whether firms are doing enough after they submit their business plans in September and could intervene from next April if customers do not share “adequate benefits”.
  
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• Why didn’t Opodo refund me after my flight was cancelled?

  04-07-2018 08:00 via theguardian.com
  I spent hours on the phone, but the website dragged its feet giving me my money backLast year I used the flight website Opodo to book a December flight from London to Zagreb on Lufthansa. However, at 2.30am on the day I was due to fly, I received a text to say the flight had been cancelled. I was therefore unable to travel.I have been trying ever since to get my money back. I have spent hours on the phone to both Opodo and, for some unknown reason, its insurer Europ Assistance, but I am getting
  
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• High streets must stop relying on retail, says expert review

  04-07-2018 07:01 via theguardian.com
  Report predicts number of empty shops could rise to 100,000 within a decadeThe crisis on UK high streets could leave 100,000 shops empty within a decade, according to an independent review that argues struggling retailers should no longer be relied upon to prop up ailing town centres.The Grimsey Review 2 makes a series of recommendations including an overhaul of the business rates system and a ban on out-of-town developments. It predicts nearly 70,000 high street jobs will disappear this year. C
  
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• How philanthropy breathed new life into a forgotten Salford suburb | Helen Pidd

  04-07-2018 07:00 via theguardian.com
  Irlam’s fortunes have been transformed by its wealthy son, TalkTalk founder Neil McArthur. But should this model be replicated elsewhere?Neil McArthur has never forgotten the words uttered to him by a London-based property guru when he said he wanted to base his firm’s technology division in Irlam, the district of Salford he grew up in: “What the hell do you want to build it in the middle of Beirut for?”McArthur bristled. The Irlam he was born into, a good 30 years before
  
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• UK companies prepare EU bases in the lead-up to Brexit - Financial Times

  04-07-2018 05:01
  Financial Times
  UK companies prepare EU bases in the lead-up to Brexit
  Financial Times
  The EU's Toy Safety Directive is much less fun than the goods it regulates. Richard Hardstaff has read it all — and when he talks about what Brexit will mean for his company, he highlights the importance of the EU rule book as a basis for doing business.
  
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• 1MDB scandal: former Malaysian PM arrives at court on corruption charges – video

  04-07-2018 04:47 via theguardian.com
  The former Malaysian prime minister Najib Razak has arrived at court to be formally charged over his alleged role in the 1MDB scandal. The case has been described as the biggest corruption scandal in Malaysian history, involving billions of dollars embezzled from a government fund. Najib's arrest on Tuesday came nearly two months after his coalition was rejected by voters in the country's general election  Continue reading...
  
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