Financial news

• Tesla to be examined by SEC over Elon Musk's 'funding secured' tweet – report

  09-08-2018 22:08 via theguardian.com
  Regulator reportedly investigating as pressure builds on Musk to show he has raised $70bn to take company privateTesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report. Related: Elon Musk grumbles at short-sellers, but is private ownership right for Tesla? | Nils PratleyContinue reading...
  
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• Bitcoin price: Leading tech analyst says it could soon be 'GAME OVER' for bitcoin

  09-08-2018 21:40 via feedproxy.google.com
  BITCOIN price has plunged by around 50 percent so far in 2018, according to Coinbase - but leading technology analyst Jeff deGraaf warned it could soon be “game over” for the cryptocurrency.
  
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• Time running short for deal on financial contracts before Brexit

  09-08-2018 19:55 via theguardian.com
  Financial markets will be left in the dark if the UK makes a cliff-edge exit from the EUCurrency markets are taking the possibility of a no-deal Brexit seriously. The pound, at $1.28 against the US dollar and €1.11 versus the euro, is at its lowest level for almost a year and we shouldn’t be surprised. Even Brexiters who imagine sunny uplands in the long term usually concede that a no-deal Brexit would mean a thump for the UK economy on the way out.But there is a crucial short-term qu
  
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• Interest rates will stay low for 20 years, says Bank of England expert

  09-08-2018 19:49 via theguardian.com
  Outgoing MPC member Ian McCafferty predicts rates below 5% and wages up 4%The era of low interest rates will last for at least another 20 years, despite gently rising official borrowing costs in the coming years, one of the Bank of England’s leading policymakers has forecast.In a valedictory interview before leaving Threadneedle Street’s monetary policy committee (MPC) at the end of the month, Ian McCafferty said structural changes in the global economy meant UK borrowers and savers
  
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• What does falling pound mean for cost of holidays in Europe and US?

  09-08-2018 18:47 via theguardian.com
  Tips to stretch your holiday cash as sterling continues to plummet amid Brexit fearsThe drop in the pound against the euro and US dollar is bad news for anyone heading to Europe or America this summer. In April £1 bought you around €1.15, or $1.43. Today it is closer to €1.11, or $1.28. It means America is now 10.4% more expensive to visit, while the cost of a European meal out will be 3.5% pricier.It’s not all bad news. Those going to Turkey won’t believe their spend
  
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• Pension firms profit from slowdown in life expectancy growth

  09-08-2018 17:01 via theguardian.com
  Annuity providers could make more than £1bn from longevity not rising as expectedBritain’s pension providers are enjoying a £1bn bonanza from the worsening outlook for life expectancy, as they book large profits from people who are dying unexpectedly early.Legal & General, which manages pensions for 1.1 million people, said that changes in mortality rates will allow it to release between £300m and £400m during 2018. Chief executive Nigel Wilson said: “Peop
  
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• From Virgin to Tesla: why companies go cool on public ownership

  09-08-2018 16:17 via theguardian.com
  There are many reasons why entrepreneurs get frustrated by the demands of the marketsElon Musk’s announcement that he was considering taking Tesla off the stock market should not have been a total surprise.Related: Tesla shares soar after Elon Musk floats plan to take company privateContinue reading...
  
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• Arcadia parts company with Chinese franchise partner Shangpin

  09-08-2018 16:15 via theguardian.com
  Sir Philip Green had planned to open Topshop stores across China with local franchiseeSir Philip Green has parted company with his Chinese franchise partner in a major setback for his ambitions to conquer the global fashion market with Topshop.Topshop’s parent company, Arcadia, formed a partnership with online retailer Shangpin in 2014 that made Topshop and Topman fashions available to Chinese shoppers via an Asos-style website for the first time. Two years later they went further, signall
  
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• 'Be Aware': UK Financial Regulator Sounds Alarm Over Yet Another Crypto ... - Cointelegraph

  09-08-2018 16:06
  Cointelegraph
  'Be Aware': UK Financial Regulator Sounds Alarm Over Yet Another Crypto ...
  Cointelegraph
  UK regulator the Financial Conduct Authority (FCA) has issued a second warning in a week Wednesday, August 8, over crypto-related “fraudsters” claiming to be an FCA authorized firm. According to the FCA, the rogue firm, Good Crypto, was giving out ...en meer »
  
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• The HS2 rail project is out of date and out of control. But it can still be halted | Simon Jenkins

  09-08-2018 15:20
  Britain is cutting care homes and children’s centres, yet blowing £80bn on a railway line that has failed every viability testVanity projects are like foreign wars. They ensnare politicians and drive them mad. A high-speed rail track from London to Birmingham and beyond was first sold to David Cameron in 2009 as a glamorous alternative to a third runway at Heathrow, which he had pledged never to build. HS2 was stupid then, and has grown ever stupider ever since. Related: HS2 is not a
  
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• The EU and UK need to calm down about Brexit - Financial Times

  09-08-2018 15:05
  Financial Times
  The EU and UK need to calm down about Brexit
  Financial Times
  In times of uncertainty, history can provide comfort, for it simply moves on. UK alarmists who refer to the Brexit negotiations as the “darkest hour” or say “Britain stands alone” are using the wrong analogy. There have been more difficult chapters in ...
  Major Post-Brexit Risk: UK's $33.5B of Financial Services Exports to EUInsurance Journalalle 688 nieuwsartikelen »
  
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• Britain's richest person to leave UK for tax-free Monaco

  09-08-2018 14:58 via theguardian.com
  Pro-Brexit Ineos boss Sir Jim Ratcliffe reportedly leaving to save tax on £21bn fortuneBritain’s richest person is quitting the UK for Monaco – just two months after he was knighted by the Queen for “services to business and investment”.Sir Jim Ratcliffe, the founder and chief executive of petrochemicals company Ineos and a high-profile Brexiter, is preparing to move to the tax-free principality on the Côte d’Azur in order to avoid UK taxes on his vast w
  
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• Bitcoin price news: Hedge fund CEO says bitcoin price will RISE- but gives stark warning

  09-08-2018 14:34 via feedproxy.google.com
  BITCOIN price has dropped over continuing uncertainty over the future of cryptocurrency but hedge fund manager Dan Morehead said the price will rise again but issued a stern warning.
  
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• Tui profits slide as European heatwave spurs staycations

  09-08-2018 13:32 via theguardian.com
  World’s largest travel company still confident of double-digit earnings growth for 2018Tui, the world’s largest travel company, has been hit by the European heatwave that encouraged staycations – but has stuck to its profit forecasts for this year.Profits at Tui fell 18% to €193m (£174m) in the three months to the end of June. The company also blamed flight delays and cancellations during air traffic control strikes in France, along with the timing of Easter and the
  
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• Pound Sterling DROP: Economist's warning as pound could fall FURTHER as Brexit talks stall

  09-08-2018 13:17 via feedproxy.google.com
  ECONOMIST Kit Juckes warned the pound sterling could fall even lower as Brexit talks continue to stall, sparking concerns that UK holidaymakers could pay the price.
  
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• Pound euro exchange rate: GBP near 11-month low on no-deal Brexit forecasts

  09-08-2018 12:30 via feedproxy.google.com
  THE pound has held close to opening levels against the euro today, trading at a level of €1.109; as with earlier in the week, these losses are down to Brexit-linked market concerns.
  
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• 'I'm already stockpiling': readers preparing for a messy Brexit

  09-08-2018 09:30
  We hear from readers who have plans in place in case Britain runs out of food after a no-deal Brexit
  Britain could run out of food by this time next year if it cannot maintain the flow of goods after Brexit, the National Farmers’ Union has said. After it emerged that the government was drawing up plans to stockpile food in the event of a no-deal Brexit, the British Retail Consortium and drug manufacturers issued more warnings about possible supply shortages, we asked for your views. Relate
  
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• TfL says I didn’t pay the congestion charge, then issues a refund

  09-08-2018 08:00
  Despite a bank statement proving the payments I can’t persuade it it has made an errorIn January, I phoned to pay the £11.50 London congestion charge. The automated system requested my car registration then asked if my vehicle was a Mercedes. When I answered “no” I was referred to the Transport for London customer centre, which was closed. The following day I tried again, by which time the charge had gone up to £14. This time it recognised the correct make of car, b
  
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• Rents in UK will rise for next five years, experts predict

  09-08-2018 07:01
  Rics says falling supply of rental properties and increased demand will lead to 15% riseUK rents are expected to climb by 15% over the next five years, as the supply of rental accommodation dwindles while demand from tenants continues to go up, according to a survey.Rents are expected to increase by nearly 2% across the UK over the next 12 months, according to the latest survey from the Royal Institution of Chartered Surveyors (Rics). Continue reading...
  
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• Brexit concerns push UK lawyers to register in Ireland - Financial Times

  09-08-2018 05:01
  Financial Times
  Brexit concerns push UK lawyers to register in Ireland
  Financial Times
  More than 9 per cent of all solicitors listed in Ireland are now lawyers from England and Wales, many of whom rushed to register after the UK voted to leave the EU. Since the beginning of 2016, 1,644 English and Welsh solicitors have joined the Irish ...en meer »
  
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