Financial news

• 'Breathtakingly beautiful': Tate St Ives wins museum of the year award

  05-07-2018 23:00 via theguardian.com
  Gallery beats Brooklands Museum, Weybridge, Glasgow Women’s Library and the Postal Museum in London to £100,000 prizeThe elegant £20m extension of Tate St Ives, a gallery that was overwhelmed by its own success when it opened in 1993, has won the £100,000 museum of the year award, the most lucrative museum prize in the world.The artist Melanie Manchot, one of the judges, said it had been “a profound experience” to visit after the work, which she believes has t
  
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• UK car sales fall, as Jaguar Land Rover issues hard Brexit warning - as it happened

  05-07-2018 20:45 via theguardian.com
  All the day’s economic and financial news, as Jaguar Land Rover warns that a hard Brexit could force it out of BritainLatest: BoE’s Carney says US tariffs already weighing on global economyUK car sales drop; diesel tumbles again
  Introduction: JLR says hard Brexit puts billions of investment at risk
  But Conservative MP says they’re wrong 7.45pm BST That’s all for today. Here’s a brisk summaryUK car sales fell last month, as the diesel crisis continued to hurt the sec
  
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• Ministers should heed JLR's warning over £1.2bn cost of Brexit

  05-07-2018 20:31 via theguardian.com
  Ralf Speth’s analysis of how British ‘crown jewel’ Jaguar Land Rover would lose its sparkle can’t be simply dismissed Jaguar Land Rover is the company ministers love to drool over. Theresa May herself has called it “one of the jewels in the crown of the British economy”, which is a reasonable reflection of the Indian-owned firm’s role in reviving car manufacturing in the UK. One in three cars exported from the UK last year was a Jaguar or a Land Rover. I
  
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• Escalation of trade war will hurt US most, Mark Carney tells Donald Trump

  05-07-2018 19:02 via theguardian.com
  Bank of England governor says tariffs announced so far have already slowed global economy
  The governor of the Bank of England has warned Donald Trump that further escalation of US trade disputes around the world would damage the America the most, as the world’s largest economy and China prepare to launch the opening salvos of a trade war on Friday. Continue reading...
  
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• Solihull's Land Rover workers react to boss's Brexit warning

  05-07-2018 18:43 via theguardian.com
  Workers fear a hard Brexit will also affect drivers and suppliers while others are unworried saying future investments are plannedJust two weeks ago, a convoy of vintage Land Rovers drove through Solihull to mark 70 years since the first model rolled off the production line at the Lode Lane plant.On Thursday the factory’s 9,000 workers were waking up to the news that their boss had warned jobs could be under threat unless Theresa May struck a Brexit deal to “safeguard” its supp
  
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• Bank outages should be limited to two days, say regulators

  05-07-2018 17:59
  Guidance comes after IT glitches at TSB and Visa caused chaos for millions of customersCity regulators have told banks and financial firms they may have to set an acceptable “maximum outage time” after an IT meltdown, after the TSB failure that led to some customers losing access to accounts for more than a month.In a joint initiative by the Bank of England and the Financial Conduct Authority, firms have been given a 5 October deadline for reporting on their exposure to risks and how
  
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• How would a no-deal or hard Brexit affect Jaguar Land Rover?

  05-07-2018 17:13 via theguardian.com
  Disruption caused by tariff and non-tariff barriers could cost the car industry £7.5bn a yearJLR’s £80bn UK investment plan at risk after hard Brexit
  Jaguar Land Rover (JLR) has said a bad Brexit deal would cost the company more than £1.2bn in annual profit. How is that possible? Continue reading...
  
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• US TRADE WAR: Donald Trump ‘OPENING FIRE’ on world warns China

  05-07-2018 16:22 via feedproxy.google.com
  DONALD Trump is “opening fire” on the world with his potentially-disastrous trade war, China has declared.
  
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• Defunct Jawbone fitness trackers kept selling after app closure, says Which

  05-07-2018 16:17
  When Jawbone liquidated its assets, its wristbands became useless without companion app Fitness trackers made by the defunct wearables company Jawbone were still on sale at Amazon, Selfridges and Groupon more than a month after they were rendered useless by the closure of a companion app, according to research by the consumer magazine Which.The Jawbone UP2, first released in 2015, is a wrist-worn fitness tracker. It connects to iOS and Android phones through Bluetooth, and uploads its data to a
  
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• Adobe and the search for the lost fonts of the Bauhaus

  05-07-2018 16:08 via theguardian.com
  The quest to track down long-forgotten typographical gems from the troves of the renowned German design institutionIn the esoteric world of typography, legendary designer Erik Spiekermann is the equivalent of Indiana Jones. He doesn’t wear a battered fedora or carry a whip. He has never raced through the desert on camels in a quest for the holy grail, or fought his way out of buried Egyptian tombs on the trail of the lost ark. But to graphic designers, animators, typographers and font afic
  
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• Merkel NIGHTMARE as Germany warned economy ‘BECOMING TOXIC’ with trade war looming

  05-07-2018 14:14 via feedproxy.google.com
  GERMANY’S massive trade surplus has become a “toxic” problem for Chancellor Angel Merkel with the country’s leading economic institute calling for Berlin to change.
  
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• Ryanair cabin and ground crew to strike this month

  05-07-2018 13:53 via theguardian.com
  Severe disruption expected as staff from Spain, Italy, Portugal and Belgium escalate disputeRyanair cabin crew from four European countries will go on strike this month, in an escalation of the airline’s labour dispute that is likely to cause severe disruption to flights to popular holiday destinations.Cabin and ground crew from Spain, Italy, Portugal and Belgium have agreed to stage a walkout on 25 and 26 July, saying Ryanair has failed to address a list of demands presented to the compan
  
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• UK business leaders invited to dine with President Trump - Financial Times

  05-07-2018 13:39
  Financial Times
  UK business leaders invited to dine with President Trump
  Financial Times
  About 150 business leaders have been invited to an undisclosed location to dine with Donald Trump when he makes his first visit to Britain as US president next week. The black-tie dinner on Thursday night will be hosted by Theresa May, the prime ...
  
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• Alliance Challenges FCA To Do More To Support Professionalism In UK ... - Exchange News Direct

  05-07-2018 12:46
  LeapRate
  Alliance Challenges FCA To Do More To Support Professionalism In UK ...
  Exchange News Direct
  A financial services Alliance with a combined global membership of 200,000 is challenging the FCA to do more to support professionalism in UK financial services. The Chartered Body Alliance, which is composed of the Chartered Insurance Institute, the ...
  FCA challenged to do more to support professionalism in UK financial servicesLeapRatealle 4 nieuwsartikelen »
  
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• EDF Energy announces 6% increase in UK dual fuel prices - Financial Times

  05-07-2018 12:36
  Financial Times
  EDF Energy announces 6% increase in UK dual fuel prices
  Financial Times
  France's EDF Energy will raise dual fuel prices for British customers by 6 per cent from the end of August, with the company blaming the “significant increases in the cost of wholesale energy” so far in 2018. The move to raise prices, which is the ...en meer »
  
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• Kremlin has 'no knowledge' of UK requests over latest poisoning - Financial Times

  05-07-2018 12:11
  Kremlin has 'no knowledge' of UK requests over latest poisoning
  Financial Times
  The Kremlin says it has no knowledge of requests for information from the British government regarding a nerve agent poisoning in the UK, which investigators said was likely linked to a March attack that London has blamed on Moscow. “I have not heard ...en meer »
  
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• UK sales of new cars fell in June as drivers shun diesels

  05-07-2018 11:19
  Demand down 3.5% but sales of petrol models rose by 12.3% last monthDemand for new cars fell by 3.5% in June, ending a short-lived recovery in the UK automotive market.
  Registrations are down 6.3% this year compared with the first six months of 2017. Continue reading...
  
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• UK authorities push financial sector to bolster tech failure plans - Financial Times

  05-07-2018 11:13
  Yahoo News UK
  UK authorities push financial sector to bolster tech failure plans
  Financial Times
  The financial sector has been put on notice by the Bank of England to war game systems outages and cyber attacks, with top brass in the line of fire and the threat of higher capital charges for those deemed to be taking insufficient steps. Senior ...
  UK Financial Firms Need 'Plan B' for Inevitable Disruptions from Cyber Attack: BOEInsurance Journalalle 6 nieuwsartikelen »
  
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• UK diesel car sales slump 30% while petrol races ahead - Financial Times

  05-07-2018 10:50
  Financial Times
  UK diesel car sales slump 30% while petrol races ahead
  Financial Times
  UK sales of new diesel cars fell by 30 per cent in the first six months of this year, as buyers shunned the once-dominant fuel in favour of higher-CO2 petrol. Diesel sales fell to 428,612 between January and June, compared to 613,985 in the same period ...en meer »
  
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• UK housebuilder Persimmon sees H1 sales rise - Financial Times

  05-07-2018 08:58
  Financial Times
  UK housebuilder Persimmon sees H1 sales rise
  Financial Times
  Persimmon, the UK's second largest housebuilder, has posted a rise in revenues for the first half of 2018. Reporting some results ahead of its official half year earnings statement in August, when it will reveal pre-tax profits, the group said it ...en meer »
  
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• Why did Npower bill me £2,800 a year after I moved out?

  05-07-2018 08:00
  The energy company adjusted its meter readings and seems to have lost control of its billingI moved a year ago and provided Npower with final meter readings. I opened a new account at my new home, paying the outstanding balance on the old account and a £50 deposit on the new one. I switched energy providers nine months later, paid the final bill and realised I had not been refunded the deposit. Npower explained the account was in debit which, given I had paid every final statement, was som
  
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• Air New Zealand criticised for serving 'fake' burgers – video

  05-07-2018 07:24 via theguardian.com
  New Zealand's acting prime minister, Winston Peters, has chided Air New Zealand for supplying 'fake meat' in its in-flight meals. Business class customers flying from LA to Auckland will have the option to order an animal-free burger patty made in a lab after a venture with Silicon Valley startup, Impossible Foods. Along with Peters, other politicians have argued the national carrier should be promoting the country’s second-largest exports, beef and lamb. Continue reading...
  
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• Ticket touts face unlimited fines for using bots

  05-07-2018 07:01
  Music industry groups hails law, part of wider effort to crack down on ‘secondary ticketing’Touts who use automated software known as “bots” to harvest multiple tickets for concerts by artists such as Taylor Swift and Ed Sheeran at the expense of genuine fans will face unlimited fines from Thursday.Music industry groups hailed the new law, which comes amid a wider effort to crack down on “secondary ticketing”, where touts use websites such as StubHub and Viago
  
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• UK in talks with Sweden over next-generation fighter jet - Financial Times

  05-07-2018 05:00
  Financial Times
  UK in talks with Sweden over next-generation fighter jet
  Financial Times
  The UK has held initial discussions with Sweden about collaborating on a future fighter jet, as it prepares to reveal a long-awaited combat air strategy at the Farnborough air show later this month. As part of the strategy, the government is expected ...
  
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• Jaguar Land Rover's £80bn UK investment plan at risk after hard Brexit

  05-07-2018 00:34 via theguardian.com
  Firm says its 40,000 employees and five-year investment plan are in jeopardy from uncertaintyBritain’s biggest vehicle manufacturer, Jaguar Land Rover, has warned it may have to rethink billions of pounds of UK investment, while its 40,000 British employees would face an uncertain future, if the UK leaves the EU single market.The company said it needed greater certainty to continue to invest heavily in the UK, in a statement released two days before Theresa May is due to meet ministers at
  
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