Financial news

• Fondant fancies fly at Premier Foods as showdown nears climax | Nils Pratley

  17-07-2018 20:15 via theguardian.com
  The firm is now a minnow in the stock market but it deserves full attention from fund managersGripped by the drama at Premier Foods, the Mr Kipling firm where the chief executive may be ejected from office? Many in the City are. Cherry bakewells and french fancies have been flying for weeks as the angry Hong Kong hedge fund Oasis Management has decried Gavin Darby’s leadership of what it calls a debt-ridden “zombie company”. In return, two famous retailing Lords, MacLaurin and
  
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• 'Mad marketing': Coles Little Shop for children undercuts plastic bag ban, critics say

  17-07-2018 20:00 via theguardian.com
  Promotion deemed commercial exploitation of children as well as environmentally damagingEnvironmental groups and health advocates have denounced Coles’s new Little Shop promotion as “commercial exploitation of kids”, “nonsensical” and “environmentally damaging”. From Wednesday, Coles shoppers will be offered a free toy – a miniature version of 30 well-known household products – with every $30 spent.Continue reading...
  
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• Netflix subscriber slowdown could mark streaming giant's peak

  17-07-2018 19:32 via theguardian.com
  Missing quarterly target may seem minor but is a concern for firm with a high-growth modelNetflix’s surprise failure to hit its subscriber targets stripped $30bn (£23bn) from its stock market value as investors and analysts expressed fears that the stellar global growth of the streaming service may have peaked.On Monday night, the company reported it had missed its second quarter subscriber growth numbers in both the US and, most crucially, in the international markets it is now rely
  
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• How the world’s last Blockbuster is keeping the DVD dream alive

  17-07-2018 18:22 via theguardian.com
  The film rental chain once had 8,000 stores in the US, but as of this week only one – in Bend, Oregon – remains. Its owner says people will still keep comingName: BlockbusterAge: From the beforetimes. Or, 1985. Continue reading...
  
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• No-deal Brexit would have big economic consequences – Carney

  17-07-2018 18:19 via theguardian.com
  Bank of England governor warns of interest rate cuts if UK crashes out of EUMark Carney has warned that Britain would face “big economic consequences” and could need emergency interest rate cuts if the country crashes out the European Union without a deal. Issuing the latest warning for Theresa May amid mounting division over her Brexit plans as Britain’s withdrawal ticks ever closer, the governor of the Bank of England said failure to reach any deal with Brussels would leave t
  
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• Goldman Sachs confirms David Solomon will replace Lloyd Blankfein as chief executive

  17-07-2018 18:09 via feedproxy.google.com
  GOLDMAN Sachs has confirmed that chief operating officer David Solomon will replace Lloyd Blankfein as chief executive, ending a 12-year stint for the outgoing boss. Mr Solomon will join the board on October 1, a day after Mr Blankfein steps down as chief executive, and will take on the additional role of chairman by year end.
  
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• Goldman Sachs: David Solomon, veteran banker and part-time DJ, named new boss

  17-07-2018 16:44 via theguardian.com
  Solomon, who moonlights as DJ D-Sol, will replace Lloyd Blankfein, the man who steered the bank into and out of the crisisA veteran banker who also DJs under the stage name D-Sol has been named as the next chief executive officer of Goldman Sachs.David Solomon, 56, will take over from the current boss, Lloyd Blankfein, on 1 October. Blankfein steered the bank into and out of the aftermath of the financial crisis – a crisis that proved almost existential for Goldman Sachs. The bank has reco
  
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• Fuel and energy prices to push UK inflation to four-month high

  17-07-2018 16:36 via feedproxy.google.com
  RECENT hikes in energy costs and petrol prices are expected to send UK inflation to its highest level in four months when official figures are disclosed on Wednesday.
  
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• Bitcoin price LIVE: BTC's 'inevitable' rise continues as G20 settle on crypto 'framework'

  17-07-2018 16:01 via feedproxy.google.com
  BITCOIN has held its position overnight after rising from $6,351 to a high of $6,739 yesterday afternoon. More positive news comes from the Financial Stability Board who pushed crypto further towards the mainstream on Monday, announcing a "framework" to monitor crypto-assets in markets across G20 nations.
  
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• UK wages growth slips, as Bank of England governor warns on no deal Brexit - as it happened

  17-07-2018 15:42 via theguardian.com
  Unemployment remains at 4.2% and wage growth slips back to 2.5%; Mark Carney tells MPs that no deal Brexit would have big economic consequences 2.42pm BST Bank of England governor Mark Carney has told MPs that a no-deal Brexit would have “big” economic consequences and could prompt a review of interest rates.The Bank is widely expected to raise rates early next month, although it is by no means a certainty. The latest UK data shows unemployment steady at 4.2% but wage growth slipping
  
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• Number of women in top boardroom positions falls, says report

  17-07-2018 15:10 via theguardian.com
  FTSE 100 figures remain static, while FTSE 250 companies produce a sharp dropThe number of women holding the most senior jobs in the boardrooms of Britain’s biggest companies has fallen, according to a report that criticises the lack of progress made by businesses in getting more women to the top.Analysis from Cranfield University, as part of its 20th FTSE Women on Boards Report, shows a sharp drop in the number of women occupying chief executive (CEO), chief financial officer (CFO) or oth
  
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• Ripple on path of 'disruption' but 'concerns' remain for hedge fund investors

  17-07-2018 14:38 via feedproxy.google.com
  RIPPLE’S journey to the centre of global finance looks set to continue with banks across Europe living in “fear” of “being disrupted by new technologies”, according to its new technology chief.
  
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• NHS spending to strain public finances for next 50 years, OBR warns

  17-07-2018 14:25 via theguardian.com
  Extra health funding for an ageing population will add to deficit, watchdog forecastsExtra health spending and a population that is ageing faster than previously expected will add to the burden of spending over the next 50 years, according to the Treasury’s independent forecaster.The £20bn boost to the health budget by 2021-22 promised by Theresa May, coupled with falling immigration – which will cut the number of young and working-age people – will increase the public de
  
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• Pancho Lewis: ‘We refused to accept that the West End had to be Tory’ | Patrick Butler

  17-07-2018 14:00
  Labour’s first ever Mayfair councillor is helping residents fight developers. He says local politicians can learn from his victoryThe Monopoly board game has enshrined Mayfair as the most gilded neighbourhood in London: home to oligarchs, bankers and Tory MP Jacob Rees-Mogg, and host to swanky townhouses, glitzy hotels and luxury shops. It now also has, for the first time, a Labour councillor. Related: Ghost towers: half of new-build luxury London flats fail to sellContinue reading...
  
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• Kylie Jenner has fuelled the myth of early success – but the odds are stacked against the young | Arwa Mahdawi

  17-07-2018 14:00
  While the 20-year-old may soon be worth $1bn thanks to her cosmetics empire, the fetishisation of youthful entrepreneurs masks the lack of opportunity for most millennialsAs the world edges ever closer to apocalypse, it is important to take time out from the unrelenting hellscape that is the news to celebrate the occasional feelgood story. So, please have your handkerchiefs at the ready for the moving tale of a young woman who, against all odds, stared down adversity and achieved the sort of suc
  
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• £500bn fund shops warned

  17-07-2018 14:00 via feedproxy.google.com
  THE city watchdog is proposing a shake-up of Britain's £500billion retail fund "supermarket" industry to give investors better value.
  
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• Pound euro exchange rate weakened as UK wage growth slows to 6-month low

  17-07-2018 12:47 via feedproxy.google.com
  The pound has drifted slightly lower against the euro today, trading at a level of €1.1296. The current dip in demand for pound Sterling is down to the latest UK jobs market data, which has revealed a slowing pace of wage growth during May.
  
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• Pound v US dollar exchange rate: UK employment rises but wage growth remains elusive

  17-07-2018 12:28 via feedproxy.google.com
  The GBP/USD exchange rate is currently at around $1.326, rising 0.2 percent as markets digest the UK’s latest labour report.
  
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• UK wage growth slides to lowest rate in six months

  17-07-2018 12:11 via theguardian.com
  Workers unable to demand higher pay despite lowest unemployment since 1970sThe rate of pay growth for British workers has fallen to the lowest level in six months, despite record numbers of people in work across the country, official figures show.Heaping pressure on the Bank of England to delay raising interest rates from as early as August, the latest snapshot for the British labour market showed the lowest level of unemployment since the mid-1970s was yet to help workers demand higher rates of
  
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• Royal Mail delivers fewer letters as new law reduces junk mail

  17-07-2018 12:04 via theguardian.com
  Online shopping boosts parcel revenues but GDPR data privacy law deters marketingRoyal Mail has reported a further fall in the number of letters it delivers for businesses, after new data privacy laws reduced the amount of junk mail sent.In a trading update ahead of its annual meeting in Sheffield on Thursday, where it could face a shareholder revolt over executive pay, the FTSE 100 company said letter revenues fell 7% in the three months to 24 June, with volumes down 6%. Excluding the boost fro
  
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• Tesco-Carrefour deal probe

  17-07-2018 12:00 via feedproxy.google.com
  A BUYING alliance between Tesco and French retailer Carrefour that could lower prices for shoppers is being probed by French regulators.
  
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• NEC firm barking up right tree

  17-07-2018 11:43 via feedproxy.google.com
  CRUFTS venue-owner NEC Group scored record annual results after a major investment.
  
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• DLR backer jumps on bid talk

  17-07-2018 11:34 via feedproxy.google.com
  AN investor in Docklands Light Railway and the Ministry of Defence HQ has emerged as a £1.4billion takeover target.
  
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• IEA warns of 'worrying trend' as global investment in renewables falls

  17-07-2018 09:00 via theguardian.com
  Fossil fuels increased share of energy supply investment last year – the first time since 2014The world’s energy watchdog has sounded the alarm over a “worrying” pause in the shift to clean energy after global investment in renewables fell 7% to $318bn (£240bn) last year.The International Energy Agency said the decline is set to continue into 2018, threatening energy security, climate change and air pollution goals.Continue reading...
  
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• Student Loans Company got my earnings wrong – what can I do?

  17-07-2018 08:00
  It has calculated repayments on income I did not have and now I’m in arrearsI am having a nightmare with the Student Loans Company. I completed my PhD in Canada, and decided to work here on a two-year contract earning $50,000 (£28,690) a year. But I was offered the chance to teach just two courses, earning an extra $15,000. The SLC has calculated future repayments on the basis I was earning $70,000. It won’t listen and I’m now in arrears. DS, CanadaHappily, SLC has apolog
  
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• Failure to enforce law means older workers face discrimination – report

  17-07-2018 01:01
  The government and the Equality and Human Rights Commission criticised by MPsGovernment ministers and Britain’s equalities watchdog are failing to save more than a million older workers from discrimination, bias and outdated employment practices, according to a group of MPs.In a highly critical report for the government, the women and equalities committee said the talents of older workers were going to waste because too little was being done to enforce discrimination law.Continue reading..
  
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