Financial news

• UK Presses Ahead With No-Deal Brexit Plans for European Financial Firms - Bloomberg

  24-07-2018 20:45
  Bloomberg
  UK Presses Ahead With No-Deal Brexit Plans for European Financial Firms
  Bloomberg
  The U.K. published fresh plans to keep European financial firms operating in the U.K. in the event of a no-deal Brexit. The government released a draft proposal on Tuesday that would give firms from the European Economic Area -- the EU plus Iceland, ...
  
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• Google results and Chinese stimulus plans drive Nasdaq to fresh record high – as it happened

  24-07-2018 18:09 via theguardian.com
  All the day’s economic and financial news, including the latest growth figures from UK factories and companies across the eurozoneLatest: Nasdaq hits record highChinese shares jump on stimulus hopesEurozone growth has dipped this monthEarlier:Introduction: Alphabet results beat expectations
  Profits would have surged, but for EU fine
  Analysts say Google remains very strong 5.08pm BST European stock markets have closed higher tonight, swept up by Google’s strong performance and optimis
  
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• Cuadrilla gets go-ahead to start fracking at Lancashire site

  24-07-2018 17:45 via theguardian.com
  Energy minister issues first permit since new regulatory regime introducedShale gas firm Cuadrilla has been given the green light by the government to start fracking at a well in Lancashire, after the energy minister issued the first fracking permit since a new regulatory regime was introduced.Fracking is expected to begin in late August or early September at the Preston New Road site, between Blackpool and Preston, which has been the focus of 18 months of protests since work on the site started
  
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• The Meeting, Chichester Festival Theatre, West Sussex, UK — subtle, moving - Financial Times

  24-07-2018 17:25
  Financial Times
  The Meeting, Chichester Festival Theatre, West Sussex, UK — subtle, moving
  Financial Times
  There is a meeting already in progress on stage as the audience take their seats in the Minerva Theatre for Charlotte Jones's new play: a silent circle committed to the quiet contemplation that is at the heart of Quaker worship. But before the end of ...
  
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• It’s not Trump Iranians are worried about – it’s their homegrown crises | Ali Ansari

  24-07-2018 16:49 via theguardian.com
  The US president’s Twitter outburst was misjudged, but Iran’s economic problems can’t be blamed on the ‘Great Satan’If there is one thing we can be sure of about Donald Trump’s affection for Twitter diplomacy, it’s that it generates considerably more heat than light. His latest outburst aimed at Iran has elicited widespread reproach, most obviously from Trump critics in the US and Europe. Experience should have taught us by now that this is just Trump be
  
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• Meet the disruptors shaking up the legal world

  24-07-2018 16:44 via theguardian.com
  From crowdfunding litigation to documenting court cases online, here’s how three startups are using technology to transform the sector. Main image: Daniel van Binsbergen, co-founder and CEO of Lexoo, near his London office.Continue reading...
  
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• Google results and Chinese stimulus plans drive Nasdaq to fresh record high – business live

  24-07-2018 16:27 via theguardian.com
  All the day’s economic and financial news, including the latest growth figures from UK factories and companies across the eurozoneLatest: Nasdaq hits record highChinese shares jump on stimulus hopesEurozone growth has dipped this monthEarlier:Introduction: Alphabet results beat expectations
  Profits would have surged, but for EU fine
  Analysts say Google remains very strong 3.27pm BST Newsflash: The International Monetary Fund has warned that the global economy is being destabilised by curre
  
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• Heathrow boss demands Americans be allowed to use e-gates

  24-07-2018 14:50 via theguardian.com
  ‘No reason to treat a passenger from the US differently to one from Lithuania’Americans should be allowed to jump the border queues at Heathrow by using the e-gates reserved for British and EU travellers, the airport has demanded.Heathrow’s boss said some immigration queues for non-European passengers had reached “completely unacceptable” levels and called on the Home Office to change the rules.Continue reading...
  
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• How has the Brexit vote affected the UK economy? July verdict

  24-07-2018 14:33 via theguardian.com
  Each month we look at key indicators to see what effect the Brexit process has on growth, prosperity and trade
  •Brexit economy: rate rise looms amid signs of slowdown
  •‘The UK’s discomfort will continue as Brexit uncertainty persists’ Continue reading...
  
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• London's black-cab drivers consider suing Uber for £1bn

  24-07-2018 14:24 via theguardian.com
  Trade body consults top lawyers over possible loss-of-earnings suitLondon’s black-cab drivers are considering legal action against Uber with potential plans to sue the US ride-hailing service for more than £1bn over their loss of earnings.The Licensed Taxi Drivers’ Association is consulting lawyers at Mishcon de Reya over a possible claim, after Uber won a 15-month licence to keep operating in London last month. Continue reading...
  
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• Brexit is the biggest risk to the UK economy, bar none

  24-07-2018 14:16 via theguardian.com
  Two former members of Bank of England’s rate-setting committee on the economic outlook
  How has the Brexit vote affected the UK economy? July verdict
  Brexit economy: rate rise looms amid signs of slowdown
  Senior economic adviser at the PwC consultancy and member of the Bank’s monetary policy committee from2006 to 2011 Continue reading...
  
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• Brexit economy: rate rise looms amid signs of slowdown

  24-07-2018 14:15 via theguardian.com
  The latest monthly Guardian analysis finds weak growth as fears rise of hard Brexit
  •How has the Brexit vote affected the UK economy? July verdict
  •‘The UK’s discomfort will continue as Brexit uncertainty persists’The Bank of England is considering raising interest rates even though the UK economy is showing signs of weakening, and there are mounting signs of danger from a hard Brexit, according to a Guardian analysis of economic developments over the past month. The
  
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• Markets cheered by Chinese stimulus plans, but eurozone growth slows – business live

  24-07-2018 14:12 via theguardian.com
  All the day’s economic and financial news, including the latest growth figures from UK factories and companies across the eurozoneLatest: Chinese shares jump on stimulus hopesEurozone growth has dipped this monthEarlier:Introduction: Alphabet results beat expectations
  Profits would have surged, but for EU fine
  Analysts say Google remains very strong 1.12pm BST In the old days, world leaders would prepare for a visiting politician by getting the red carpet swept, and perhaps organising a ba
  
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• Manufacturers cutting back on spending amid fears over Brexit

  24-07-2018 13:54 via theguardian.com
  Growth highest in a year but firms are failing to invest in skills and products, says CBIA pick-up in the pace of manufacturing growth to its fastest in a year has failed to prevent a fall in investment as firms mothball spending plans amid concerns over Brexit. The latest snapshot of industry from the Confederation of British Industry found that despite mounting skills shortages and capacity constraints, companies were cutting back on product development and training at a rate not seen since th
  
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• SFO applies to reinstate charges against Barclays bank over Qatar loan

  24-07-2018 12:51 via theguardian.com
  Charges relate to emergency fundraising conducted by bank during 2008 financial crisisThe Serious Fraud Office has applied to the high court to revive its case against Barclays Bank regarding a £12bn bailout secured from the state of Qatar at the height of the financial crisis in 2008.Charges that Barclays conspired to commit fraud were dismissed at Southwark crown court in May in a blow for the SFO, which had conducted a five-year investigation into the deal. Continue reading...
  
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• Markets cheered by Google results and Chinese stimulus plans – business live

  24-07-2018 12:30 via theguardian.com
  All the day’s economic and financial news, including the latest growth figures from UK factories and companies across the eurozoneLatest: Chinese shares jump on stimulus hopesEurozone growth has dipped this monthEarlier:Introduction: Alphabet results beat expectations
  Profits would have surged, but for EU fine
  Analysts say Google remains very strong 11.29am BST Back in the markets, and Chinese stocks have surged after Beijing announced new fiscal measures to stimulate its economy.
  Overnigh
  
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• More UK companies in significant financial distress - economia

  24-07-2018 12:08
  FashionUnited UK (blog)
  More UK companies in significant financial distress
  economia
  The number of companies experiencing significant financial distress has risen by 9% in the last quarter. Business recovery group Begbies Traynor's red flag alert revealed that 472,183 UK businesses were experiencing high levels of distress in the three ...
  UK retailers experiencing financial distressFashionUnited UK (blog)
  UK corporate health deteriorates 9%, leaving 472000 businesses in financial ...Londo
  
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• Trump's company to invest further £150m in Scottish golf resort

  24-07-2018 11:26 via theguardian.com
  Project at Balmedie, near Aberdeen, for 500 homes, 50 hotel cottages and a sports centre
  Donald Trump’s company has submitted plans to invest a further £150m in one of his Scottish golf resorts.The US president owns two courses in Scotland and the development of the resort in Balmedie, near Aberdeen, has been criticised by some local people and environmentalists. Continue reading...
  
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• Bullring owner Hammerson to sell off £1.1bn of properties

  24-07-2018 11:21 via theguardian.com
  UK shopping centre operator to offload retail parks and reduce exposure to department stores Hammerson, the UK shopping centre operator, plans to sell its portfolio of out-of-town retail parks and reduce exposure to department stores in a bid to appease disgruntled investors. The owner of London’s Brent Cross and Birmingham’s Bullring aims to offload £1.1bn of properties by the end of 2019 as it exits the retail park sector and focuses on “flagship retail destinations&rdq
  
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• Fever-Tree's value fizzes to £4.5bn on back of strong gin sales

  24-07-2018 10:49 via theguardian.com
  Shares hit record as firm says results will be ‘comfortably ahead’ of forecastsShares in upmarket drinks firm Fever-Tree have hit a record £39.87, valuing the company at more than £4.5bn as it said it expected its full-year results to be “comfortably ahead” of previous forecasts on the back of strong gin sales. Fever-Tree, which produces tonic water and other carbonated mixers, has rapidly grown over the past few years as sales of premium gin have surged in Br
  
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• Superfast broadband could get cheaper as BT cuts charges to rivals

  24-07-2018 09:47 via theguardian.com
  Openreach price cuts could help millions of Sky, TalkTalk and Vodafone customersMillions of superfast and ultrafast broadband users could benefit from significant price cuts after BT said it would cut almost £100m from what it charges rivals to use its network.Openreach, the BT-owned subsidiary that controls the UK’s broadband network, is to dramatically reduce what it charges providers such as Sky, TalkTalk and Vodafone to offer superfast and ultrafast broadband. Continue reading...
  
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• Can I use my lifetime Isa to pay for legal and survey fees for my flat?

  24-07-2018 08:28
  I am unsure whether I will lose the bonus by withdrawing funds from itQ I’m a first-time buyer in the process of buying a flat with a value of £130,000. I have £13,750 in a lifetime Isa, £3,000 of which is part of this tax year’s allowance (£750 being the government bonus).I cannot find any information relating to what I can withdraw the funds for, beyond use as a deposit. My question is – can the amount in the Isa solely be used for the deposit payment,
  
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• Why is Virgin Media taking months to fix my landline?

  24-07-2018 08:25
  I’m running up massive bills on my mobile phone – and now my burglar alarm won’t work eitherIn April we had problems with our Virgin Media landline and were told we needed a replacement cable from the road to our house. A date was given but nobody turned up. This happened again. After numerous calls from our mobile, we were told Virgin was waiting to hear from the local authority as the road had to be dug up to access the cable. In early June, its “construction” dep
  
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• Global trade system under WTO 'has failed', Australian treasurer says

  24-07-2018 06:25 via theguardian.com
  In an interview at the G20 meeting, Scott Morrison tells Fairfax the US-China trade war is a chance to look at the rulesThe Australian treasurer, Scott Morrison, has said the global trading system has failed and ought to be subject to a broad review, according to reports.The World Trade Organisation (WTO) system was “built for a different time” and the current trade war between the US, Europe and China could provide the opportunity to take a closer look at “how those rules work
  
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• UK refuses to give up on post-Brexit plan for City - Financial Times

  24-07-2018 05:01
  Financial Times
  UK refuses to give up on post-Brexit plan for City
  Financial Times
  The UK is to step up lobbying in EU member states in an effort to win support for Britain's plan for post-Brexit regulation of the financial services industry, in spite of its rejection by Michel Barnier, the bloc's chief negotiator. City of London ...
  Brexit's epicentre: London's financial services sector and its place in the UK ...British Politics and Policy at LSE (blog)
  UK's financial services Brexit plan rej
  
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• Monsanto's 'cancer-causing' weedkiller destroyed my life, dying man tells court

  24-07-2018 02:38 via theguardian.com
  Testifying in landmark trial, former school groundskeeper describes suffering allegedly caused by company’s chemicalsDewayne Johnson said that if he had known what he knew now about Roundup weedkiller, “I would’ve never sprayed that product on school grounds ... if I knew it would cause harm ... It’s unethical.”Johnson, a former school groundskeeper in northern California who is terminally ill, was testifying Monday in his landmark suit against Monsanto about the ca
  
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• Foreign takeovers of UK companies to face increased scrutiny - Financial Times

  24-07-2018 02:30
  Financial Times
  Foreign takeovers of UK companies to face increased scrutiny
  Financial Times
  Foreign takeovers of British companies will face an increase in government scrutiny if they present national security concerns, under proposals unveiled on Tuesday. Dealmakers will be encouraged to notify the government ahead of any transactions that ...en meer »
  
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• Child poverty in the UK rising faster than thought, study shows - Financial Times

  24-07-2018 01:03
  Financial Times
  Child poverty in the UK rising faster than thought, study shows
  Financial Times
  Child poverty in the UK has been rising twice as fast since 2011 as official data suggest, according to a new analysis by the Resolution Foundation. The think tank's annual audit of living standards, published on Tuesday, paints a picture of ...en meer »
  
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• Poorest 30% of UK households 'worse off by £50 to £150' last year

  24-07-2018 01:01 via theguardian.com
  Thinktank says since 2010 child poverty has risen twice as fast as official figures showBritain’s poorest 30% of households saw an end to their post financial crash recovery last year as inflation and cuts to in-work benefits outweighed wage rises to leave them as much as £150 worse off.The Resolution Foundation, an independent thinktank, said its audit of income and poverty levels for 2017-2018 found that income growth slowed for all households last year.Continue reading...
  
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• Poorest 30% of UK households 'worse off by between £50 to £150' last year

  24-07-2018 01:01
  Thinktank says since 2010 child poverty has risen twice as fast as official figures showBritain’s poorest 30% of households saw an end to their post financial crash recovery last year as inflation and cuts to in-work benefits outweighed wage rises to leave them as much as £150 worse off.The Resolution Foundation, an independent thinktank, said its audit of income and poverty levels for 2017-2018 found that income growth slowed for all households last year.Continue reading...
  
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• Ministers selling out UK exporters, Corbyn to say

  24-07-2018 01:01 via theguardian.com
  Labour leader to say lack of industrial plan means firms unable to profit from ‘competitive’ poundJeremy Corbyn will accuse the government on Tuesday of selling out manufacturers by failing to introduce an industrial plan that could have helped them make more of the weak pound since the Brexit referendum.The Labour leader will say that the British economy has become too reliant on imports, meaning that companies have been unable to benefit from the drop in the value of the pound agai
  
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• Drivers name England's worst motorway service station

  24-07-2018 01:01
  Thurrock site receives lowest satisfaction rating as toilet renovation works take tollThurrock services on the M25 have been rated by users as the worst in England, in a survey of motorway service stations.It came bottom after receiving a lowly satisfaction rating of 68%; Toddington Southbound (M1) was second worst with a score of 72%. Both are operated by Moto and have undergone major redevelopment works that have caused disruption. Continue reading...
  
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