Financial news

• Amazon slashes UK tax bill with share awards - Financial Times

  02-08-2018 20:42
  Financial Times
  Amazon slashes UK tax bill with share awards
  Financial Times
  Amazon's main UK subsidiary paid just £1.7m of tax on profits of more than £72m last year, after a massive deduction from share-based awards that offer a legal way for companies to reduce payments to the exchequer. Had Amazon paid the UK's standard ...en meer »
  
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• Date set for legal challenge by House of Fraser landlords

  02-08-2018 20:14 via theguardian.com
  Department store business fighting to avoid fall into administration as £25m rent bill loomsA legal challenge by landlords against House of Fraser’s plan to close more than half its stores is set to be heard on 14 August, potentially easing the way for a cash injection to save the struggling department store business from collapse.House of Fraser is battling for survival after Wednesday’s decision by the Chinese owner of Hamleys, C.banner, to pull out of a plan to invest £
  
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• Barclays half-year profits fall 29% following settlement

  02-08-2018 19:57
  Despite litigation costs, bank chiefs remain positive due to second-quarter turnaround Barclays half-year profits have fallen by a third following a major US settlement and mis-selling provisions but the banking group cheered a turnaround in the final months after dodging further charges.
  The high street lender reported a 29% fall in pre-tax profit to £1.7bn for the six months to 30 June, while total income for the period was flat at £10.9bn. Continue reading...
  
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• Bank of England raises interest rates to 0.75%

  02-08-2018 18:51
  Monetary policy committee lifts cost of borrowing to highest level since 2009Larry Elliott: lack of dissenting voices came as a surprise
  How will rise affect mortgages, savings and property?
  The Bank of England has raised interest rates above the emergency level introduced after the financial crisis despite mounting fears about the economic impact of Britain crashing out of the EU without a deal. Citing concern that the lowest unemployment rate since the mid-1970s risked re-igniting wage pressur
  
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• Bitcoin price news: King of Crypto says THIS has to happen for new Bitcoin breakthrough

  02-08-2018 18:50 via feedproxy.google.com
  BITCOIN trader Bart Smith said he believes the digital token is ready to for an upward move if price fluctuations trend in a positive range despite the cryptocurrency entering its third day in the red.
  
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• Canal-side cottages for sale – in pictures

  02-08-2018 18:42
  Living by the water from Cheshire to Lincolnshire Continue reading...
  
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• Apple becomes world's first trillion-dollar company

  02-08-2018 18:38 via theguardian.com
  Computing and mobile phone giant beats Amazon to landmark after its shares hit $207.05Apple became the world’s first trillion-dollar public company on Thursday, as a rise in its share price pushed it past the landmark valuation.The iMac to iPhone company, co-founded to sell personal computers by the late Steve Jobs in 1976, reached the historic milestone as its shares hit $207.05, the day after it posted strong financial results. Apple’s share price has grown fourfold since Tim Cook
  
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• Mark Carney net worth: How much does Mark Carney the Bank of England governor earn?

  02-08-2018 18:01 via feedproxy.google.com
  THE BANK of England has just raised the UK’s interest rates to their highest in almost a decade, with new confidence in growth outlined by the Monetary Policy Committee and governor Mark Carney. How much does Mark Carney earn?
  
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• BREXIT BOOM: Barclays reveals profits have tripled — in best results for THREE YEARS

  02-08-2018 16:29 via feedproxy.google.com
  BARCLAYS Bank has tripled its profits in its best quarter for more than three years. The financial giant, reported pretax profits of £1.9billion for the second quarter, beating estimates.
  
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• Pound euro exchange rate: GBP slumps despite 0.25 per cent BoE interest rate hike

  02-08-2018 16:03 via feedproxy.google.com
  THE pound has fallen sharply against the euro today in the wake of the Bank of England’s interest rate hike to 0.75 per cent. The pairing opened at a level of €1.125 earlier today and rose to €1.128 before the rate hike, but has since dropped to a level of €1.121.
  
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• Gold demand slumps to lowest level since 2009

  02-08-2018 14:51
  Sales slowed to 1,959.9 tonnes between January and June as consumers spurn commodityGlobal demand for gold fell to its lowest level since 2009 in the first half of this year as an improving US economy drove investors to riskier assets and consumers bought less gold jewellery, particularly in India where an inauspicious period for Hindus led to fewer weddings.Central bank purchases also slowed, although demand for gold used in electronics such as smartphones, games consoles and vehicles hit a thr
  
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• Interest rates: Savers to reap benefits as Bank of England increases interest base rate

  02-08-2018 14:32 via feedproxy.google.com
  GOOD news for British savers as the Bank of England today voted to raise interest rates in a bid to return to a “normal” monetary policy following the 2008 market crash.
  
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• Power firm Eon to shed 500 jobs as competition bites

  02-08-2018 13:57 via feedproxy.google.com
  EON is to cut 500 jobs as it battles “unprecedented” change and fierce competition in Britain's energy market.
  
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• Interest rate rise: lack of dissenting voices came as a surprise

  02-08-2018 13:48
  Bank had been poised to act for some time but the unanimous vote should raise eyebrowsIn the end, there were no doubters. Despite some markedly mixed signals from the economy in recent months, the nine members of the Bank of England’s monetary policy committee (MPC) voted unanimously to raise interest rates by a quarter point to 0.75%. The decision to lift official borrowing costs above 0.5% for the first time in almost a decade came as no surprise, but the lack of any dissenting voices ce
  
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• Co-op ‘planning insurance sell-off’

  02-08-2018 13:42 via feedproxy.google.com
  THE Co-op Group is considering the £300million sale of its general insurance operation.
  
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• Next sales shine but shares slide

  02-08-2018 13:29 via feedproxy.google.com
  DEMAND for light summer clothes as temperatures soared boosted sales at fashion retailer Next.
  
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• How will interest rate rise affect mortgages, savings and property?

  02-08-2018 13:04
  Impact of Bank of England’s decision to lift base rate for only second time in a decadeBank of England raises interest rates to 0.75%
  Larry Elliott: lack of dissenting voices came as a surprise
  The Bank of England on Thursday raised its base rate for only the second time in a decade, inching it up from 0.5% to 0.75%. What impact will it have on your mortgage, savings and the property market? Continue reading...
  
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• Countrywide shares plunge 60% after emergency cash call

  02-08-2018 12:44
  Struggling estate agent shocks City with larger than expected bid in effort to reduce debtShares in Countrywide have plunged by more than 60% after the struggling estate agent asked investors for £140m of emergency funds to save it from collapsing under the weight of its debt.Countrywide, which has nearly 10,700 staff and operates under about 50 brand names including Hamptons International and Bairstow Eves, launched the rescue plan after downgrading profit forecasts four times in eight mo
  
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• Pound US dollar exchange rate: GBP tumbles as markets brace for ‘dovish hike’ from BoE

  02-08-2018 11:16 via feedproxy.google.com
  THE pound US dollar exchange rate is currently at around $1.308, down by 0.3 per cent this morning in the build up to today’s main event.
  
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• 'Flatline feel' to factory growth

  02-08-2018 11:15 via feedproxy.google.com
  FACTORY growth was at a three-month low in July despite a healthy export market. Increases in both output and new orders slowed, according to the IHS Markit/CIPS purchasing managers survey.
  
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• In praise of good customer service at Rohan and Ruark

  02-08-2018 08:00
  So many brickbats, but here’s a few bouquetsAmid the gloom of corporate incompetence are beacons in the form of spontaneous customer service. It shouldn’t be so startling when companies deliver more than the bare minimum, but on the rare occasions it happens it should be applauded, so congratulations to these firms:I recently bought an anorak from Rohan. I received a letter from the company to say that some people had experienced problems with the poppers coming away, and it wasn&rsq
  
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• Scrap council tax – wealthy homeowners must pay more | Larry Elliott

  02-08-2018 07:00
  The time has come for a land value tax to redistribute wealth and help fix our broken housing marketThe government is short of money. The Treasury is scrabbling around looking for ways to fund Theresa May’s pledge to spend an extra £20bn a year on the NHS. Pressures on the public finances are bound to continue increasing because the population is ageing and older people need more health and social care. The way to square the circle is obvious. Philip Hammond should use his autumn bud
  
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• Michael Gove discusses backstop UK plan to stay in single market - Financial Times

  02-08-2018 05:02
  Financial Times
  Michael Gove discusses backstop UK plan to stay in single market
  Financial Times
  Michael Gove, the Eurosceptic UK environment minister, has privately discussed a backstop plan that would keep the UK in the EU single market if Theresa May's Brexit strategy failed. At a recent dinner, Mr Gove talked with moderate Conservative MPs and ...en meer »
  
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• Job-switching workers enjoy highest pay growth in a decade

  02-08-2018 01:01
  Research by Resolution Foundation suggests evidence of growing ‘disloyalty bonus’ Pay growth for workers moving jobs has risen to the highest levels for more than a decade, suggesting a growing “disloyalty bonus” for job movers over those sticking with their employers. According to research from the Resolution Foundation thinktank, pay growth for the vast majority of workers who stay with their employer remains rooted at just 2.5% – having failed to return to the pr
  
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• Smaller firms should have to report gender pay gap, MPs say

  02-08-2018 01:00
  Companies with more than 50 employees should also report figures, committee saysThe government should force medium-sized companies to reveal their gender pay gaps and push for larger law firms to include partner pay, a group of MPs recommended on Wednesday.All companies with more than 50 employees should have to report their gender pay gap from 2020, said the business, energy and industrial strategy committee (BEIS). Currently only firms with more than 250 employees have to report their gender p
  
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