Financial news

• EchoStar walks away from offer for Inmarsat just before deadline

  06-07-2018 18:47 via theguardian.com
  Colorado-based firm’s cash and shares offer valued UK rival at £3.2bnUS satellite company EchoStar has walked away from attempts to acquire Inmarsat after a second takeover bid was rejected by its UK rival.EchoStar said it had no intention of making a formal takeover bid on Friday afternoon, after issuing a statement earlier in the day saying that its latest cash and shares offer had been rejected. Shares in Inmarsat closed down 8% at 484p. Continue reading...
  
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• Bravo Ed Sheeran for taking on the rip-off 'secondary ticketing' touts | Adam Webb

  06-07-2018 18:25
  Sites like Viagogo and StubHub operate purely in the interests of touts. Others should follow Sheeran’s lead and shut them out For those of us who remember dispatching stamped-addressed envelopes or queuing outside venue box offices, the ability to buy a ticket from your mobile phone or laptop has been a hugely welcome development. However, there has been a downside. What’s been good for the fan has also been a boon for the speculators – leading to the growth of the so-called s
  
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• US job creation beats forecasts, as trade war with China begins - as it happened

  06-07-2018 17:57 via theguardian.com
  All the day’s economic and financial news, as Washington and Beijing impose 25% tariffs on billions of dollars of each other’s exportsSummary: Trade war breaks out213,000 jobs created in America last monthJob creation strong, but wage growth weakEarlier:Introduction: US fires first bullet in trade war
  China has hit back with retaliatory tariffs 4.54pm BST And finally, here’s our Q&A on the new US-China tariffs, and what it might mean for the global economy. Related: What ar
  
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• UK supermarkets recall frozen vegetables over bacteria fears

  06-07-2018 17:38 via theguardian.com
  Food Standards Agency says 43 own-brand products supplied by Greenyard group affectedA number of supermarket chains have been forced to recall thousands of bags of own-brand frozen vegetables because of fears that they could contain a deadly bacteria. The Food Standards Agency said 43 frozen products, including sweetcorn and mixed vegetables – sold by retailers including Tesco, Sainsbury’s, Waitrose, Aldi and Lidl – had been recalled by Greenyard, one of the largest suppliers o
  
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• Cryptocurrency price RISE: Bitcoin, Ripple and Ethereum look to China for price 'push'

  06-07-2018 17:38 via feedproxy.google.com
  CRYPTOCURRENCIES are up across the board as summer optimism sweeps the major coins. However, the “short-term” price rises across bitcoin, ethereum and ripple could yet see an even bigger boost from China lifting its ban, according to one expert.
  
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• Let’s move to Lampeter, Ceredigion: a neat town, if you like students

  06-07-2018 17:30
  This pretty little market town is a magnet for eco-warriors, hippies and students. Lots and lots of students…What’s going for it? An odd spot for a university campus, I’ve always thought. Lampeter, sitting contentedly amid the juicy green fields and lumpy hills of rural west Wales, is so small you might lose it under a cake crumb on the road map – just shy of 3,000 people, swelling by a third when the students descend. Students, one assumes, who are after a different kin
  
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• Decline of the British high street | Letters

  06-07-2018 17:30 via theguardian.com
  Guardian readers respond to a report on the British high street claiming 100,000 shops may stand empty within a decadeZoe Wood reports on an independent review of the retail crisis by Bill Grimsey (100,000 shops may stand empty within a decade, report warns, 4 July). The report urges planning in town centres to include alternatives to retail, including housing and entertainment. Grimsey urges the creation of community hubs to replace empty shops, which would appear to be a positive step forward.
  
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• Request for politicians to stop knocking buses | Letters

  06-07-2018 17:29
  The young, old, poor and disabled depend on public transport, writes Wendy MulvilleHow many politicians or journalists mocking Jeremy Corbyn have ever travelled on a bus (For millions, buses really do matter, Owen Jones, 6 July). I suggest they exit London and try taking the bus to their favourite village, wildlife centre, stately home, or any interesting place they easily reach by car. They will find most are inaccessible by public transport and therefore unavailable to the young, the elderly,
  
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• Government has no clue how to execute Brexit without harm – Airbus chief

  06-07-2018 17:21 via theguardian.com
  Let’s see what comes out of Chequers: white smoke, black smoke or no smoke, says Tom EndersThe chief executive of Airbus has accused the government of having “no clue” on how to leave the EU without harming the economy, as the prime minister hosted a summit at Chequers aimed at uniting the cabinet behind a Brexit plan.The criticism from the aerospace firm, which employs 14,000 people in the UK, is the strongest intervention yet from the business community on the risk of a hard
  
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• What are trade tariffs and who will they affect?

  06-07-2018 17:14 via theguardian.com
  As the US and China plunge into a tit-for-tat trade battle, we look at what’s at stakeChina retaliates with tariffs after US begins trade war
  Tariffs are border taxes charged on foreign imports. Importers pay the applicable charges at the point of entry to the customs agency of the country or economic bloc imposing them. Continue reading...
  
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• Pensioners spend just FIVE years of their retirement in good health, warns new research

  06-07-2018 17:11 via feedproxy.google.com
  PENSIONERS spend just five years of their retirement in good health, warns new research.
  
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• Bitcoin price LIVE: BTC to 'rise' as 90% of other cryptocurrencies 'fail or DIE' - expert

  06-07-2018 16:25 via feedproxy.google.com
  BITCOIN couldn't maintain yesterday's momentum overnight, but wallet holders will be encouraged by BTC hitting a high of $6,710, and broadly heading north, not south. Bitcoin has now been forecast by a panel of experts to rise 18 percent by August 1st.
  
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• Bitcoin price RISE prediction: BTC to hit $15k by end of 2018 – rises across major crypto

  06-07-2018 16:01 via feedproxy.google.com
  BITCOIN’S stuttering recovery is set to continue with a panel of experts predicting the leading cryptocurrency will return to $7,000 by the end of the month, finishing the year at $15,372.
  
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• Tesco targets growing number of Britons who eat or live alone

  06-07-2018 15:16 via theguardian.com
  UK’s biggest grocery retailer expands its range of single-portion foodsThe UK’s biggest grocery retailer is targeting the growing number of Britons who live or eat alone by significantly expanding its range of single-portion foods.
  Tesco is selling solitary beef burgers and steak fillets, hand-sized packets of new potatoes and broccoli – and even shrunk-down bottles of sauvignon blanc – as it targets an increasingly important demographic. The retailer has increased the si
  
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• 'Tarnished goods?' Sir Martin Sorrell returns to business frontline

  06-07-2018 14:42 via theguardian.com
  His new firm is as much about rebuilding reputation as getting back at WPP, say observersSir Martin Sorrell’s return to the business frontline with a quick-fire plan to build a next-generation mini-WPP is facing more challenges than the media mogul was probably expecting. Already sour relations with his former employer have taken a turn for the worse, with the advertising group issuing a legal threat to cut off £20m in future payouts its former chief executive remains in line for if
  
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• UK house prices rise for second month running, says Halifax

  06-07-2018 14:03
  Mortgage lender says overall the market remains flat, as annual growth rate falls againHouse prices rose for the second month running in June, adding £745 to the value of an average property, but the market remains flat, according to the Halifax.
  The mortgage lender said June’s 0.3% increase was not enough to stop the annual rate of house price growth falling for the third month in a row. It stands at 1.8%, which compares with about 4% last autumn.Continue reading...
  
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• UK worker productivity falls as Brexit concerns intensify

  06-07-2018 13:43 via theguardian.com
  Rate of growth continues to lag behind levels achieved before the 2008 financial crisisBritain’s dismal track record on improving worker productivity since the financial crisis continued in the first three months of the year, amid mounting concern Brexit will further damage the efficiency growth required for boosting wages. Economic output per hour of work dropped in the UK by 0.4% in the first quarter after a rise of 0.6% in the final quarter of 2017, according to the latest snapshot from
  
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• Thanks to Amazon, the government will soon be able to track your face

  06-07-2018 12:00 via theguardian.com
  Putting the business needs of technology giants over our own privacy creates a grave risk to our democracyAmazon, the company synonymous with online shopping, is supplying facial recognition technology to government and law enforcement agencies over its web services platform. Branded Rekognition, the technology is every bit as dystopian as it sounds. Given the enormous reach of Amazon’s cloud platform and how easily organizations can integrate new applications into their operations, it&rsq
  
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• Pound euro exchange rate: GBP muted ahead of crunch Chequers Brexit meeting

  06-07-2018 11:19 via feedproxy.google.com
  THE pound euro exchange rate is currently at €1.130, with the pound trading narrowly against the euro this morning. It comes ahead of a crunch UK cabinet meeting later today.
  
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• Pound US dollar exchange rate: GBP trading higher at $1.324

  06-07-2018 11:15 via feedproxy.google.com
  THE pound is trading higher against the US dollar this morning at a rate of $1.324, which is a rise of just over 0.1 per cent.
  
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• China retaliates with tariffs after US begins trade war

  06-07-2018 10:35 via theguardian.com
  State media accuses Trump administration of acting like a ‘bunch of hoodlums’ as tariffs on $34bn in Chinese goods go into effectA long-threatened trade war between the US and China has got under way after the world’s two largest economies imposed tariffs on each other. The US implemented tariffs on $34bn in Chinese goods, to which Beijing responded with levies on a similar quantity of US imports.Minutes after the US tariffs went into effect at 12.01am on Friday US time, a spok
  
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• Why did my home insurance rise when there was a fire next door?

  06-07-2018 08:00
  We believe our neighbour’s negligence contributed but our insurer won’t recoup the costsLast November the rented house next door caught fire while we were out. The tenant failed to call the fire service and the alarm was raised by staff at a nearby school. The tenant ran from the house, never to be seen again. Our period front door was destroyed, the bathroom flooded, carpets soaked and there was extensive smoke damage throughout.The landlord of the next-door property assured us
  
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• Homes for sale with air conditioning – in pictures

  06-07-2018 08:00
  Beat the heat in these chilled properties, from Yorkshire to Berkshire Continue reading...
  
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• UK high street sales fall for fifth month running

  06-07-2018 07:01 via theguardian.com
  Survey says ‘bleak and crippling start to the year shows no sign of abating’High street sales fell for the fifth month in a row in June, according to a survey that suggested bricks and mortar retailers have endured the worst first half year of trading in more than a decade.UK high street sales fell 1.7% year-on-year in June, the fifth consecutive month of falling sales, according to data released by advisory firm BDO, which bases its finding on a survey of mostly medium-sized retail
  
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• Premier told to get out of soup

  06-07-2018 04:55 via feedproxy.google.com
  AN INVESTOR trying to oust the boss of Premier Foods has urged the company to sell its Batchelors Soup brand. Oasis Management, Premier’s second biggest shareholder with a 9.3 per cent stake, argued a £200 million-plus sale of Premier’s fastest-growing brand would enable it to cut debt, boost profit and strengthen pension schemes.
  
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• Back pay worth £1.44m owed to thousands of UK workers, official figures show

  06-07-2018 01:01
  Odeon cinema chain, Card Factory and 10 sports clubs among more than 200 employers failing to pay national minimum wageTen professional sports clubs, the Odeon cinema chain and the Navy, Army and Air Force Institute (Naafi) have been named and shamed by the government as being among more than 200 employers that have failed to pay workers the national minimum wage.About 22,400 UK workers were owed back pay worth £1.44m as a result of the underpayments – a record number of people found
  
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