Financial news

• 'Healthy' no-deal Brexit strategy will cause pound value to ROCKET says finance expert

  21-08-2018 20:36 via feedproxy.google.com
  A “HEALTHY” no-deal Brexit negotiating strategy will lead to a pound sterling price rise against the euro, an investment manager has claimed.
  
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• The Guardian view on Venezuela’s hyperinflation: a lethal dose? | Editorial

  21-08-2018 19:36 via theguardian.com
  The Maduro administration has taken one of the world’s big oil exporters to the brink of collapse. Donald Trump wants to tip it over the edgeA century ago, John Maynard Keynes recognised the deadly threat inflation posed to a body politic. He wrote: “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.” It is a lesson that Venezuela’s Nicolás Maduro has yet to learn. Yearly price rises are running at 1,000,0
  
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• Chancellor finds extra wriggle room in time for next budget | Larry Elliott

  21-08-2018 19:12 via theguardian.com
  A £2bn public finances surplus has fallen to Philip Hammond so he could yet boost the NHSPhilip Hammond just got lucky. What was shaping up to be an extremely tricky budget for the chancellor all of a sudden looks quite a lot easier. July is normally a good month for the public finances because it is a time when tax receipts come rolling in to the exchequer, but the size of the surplus – £2bn – has been a pleasant surprise. Not since Gordon Brown was in his frugal phase a
  
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• UK reports biggest July budget surplus for 18 years

  21-08-2018 18:06 via theguardian.com
  Philip Hammond given more scope to increase NHS spending in autumn budgetBritain has recorded the biggest July budget surplus since the millennium, giving a boost to Philip Hammond as he considers ways to pay for greater NHS spending in the autumn budget.The Office for National Statistics said public sector net borrowing, excluding the state-owned banks, went into surplus for July by £2bn, meaning the government received more in tax income than was spent on public services. Continue readin
  
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• Bitcoin price LIVE: BTC loses value on the day but could a rally be on the cards?

  21-08-2018 17:27 via feedproxy.google.com
  BITCOIN has slipped into the red again today, hanging at around $6,400 per coin. Here are all the latest news and live updates.
  
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• Greece may still be Europe’s sick patient, but the EU is at death’s door | Marina Prentoulis

  21-08-2018 15:42 via theguardian.com
  EU-imposed austerity is finally over for pauperised Greece – and it’s time for a rethink of the whole European projectGreece has entered a new, “normal” phase now that the formal lending agreement with the troika (International Monetary Fund, European Central Bank, European commission) has come to an end. But after eight years of austerity, the truth is that no one can afford rose-tinted glasses. The crisis has cost Greece 25% of its GDP – unprecedented for any Euro
  
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• Pound US dollar exchange rate: GBP rises as Donald Trump criticises Fed

  21-08-2018 14:25 via feedproxy.google.com
  THE pound is currently trading at $1.283 against the US dollar, with the exchange rate managing to edge away from the day’s opening levels.
  
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• Pound euro exchange rate: GBP slides as NHS warns of post-Brexit drug shortage

  21-08-2018 13:36 via feedproxy.google.com
  THE pound has dipped against the euro today, with the exchange rate currently trading in the region of €1.112.
  
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• Brexiteers are using the notion of Project Fear to manipulate you | David Shariatmadari

  21-08-2018 13:08 via theguardian.com
  The phrase is used to dismiss expert warnings and build a sense of drama that will allow ‘not disaster’ to be labelled success “This is the most extreme form of project fear yet, these people are an absolute disgrace.” That was how Nigel Farage, ever the patriot, dismissed the voice of the nation’s doctors last week. The British Medical Association had set out some of the harm a no-deal Brexit would cause. Its prediction that the UK’s ability to fight pandemic
  
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• Fraser handbagging costs Mulberry £3m

  21-08-2018 12:17 via feedproxy.google.com
  MORE than £100million was wiped from the value of Mulberry yesterday after it warned the fallout from the collapse of House of Fraser could take a big bite out of its annual profit. The luxury handbag maker, with 21 House of Fraser concessions employing 88 people, expects to take a £3million hit for exceptional costs.
  
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• Love Island helps drive surge in sales of men's skincare products

  21-08-2018 12:10 via theguardian.com
  Superdrug benefits from tie-up with show as heatwave fuels boom in alcohol salesThe perfectly preened male stars of Love Island have helped fuel a boom in men’s skincare products with sales surging this summer.The latest edition of ITV2’s hit reality show has been credited with helping to drive a 16% sales surge in men’s skincare products in the 12 weeks to 12 August. Continue reading...
  
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• How Britain’s abandoned Anderson shelters are being brought back to life

  21-08-2018 12:00 via theguardian.com
  They survived doodlebugs and the Luftwaffe’s air raids. Now, 80 years on, Britain’s remaining air raid shelters host kids’ parties, flowers and foxes. Why are so many people still so fascinated by them?Martin Stanley’s Anderson shelter rests at the foot of his back garden. Partially submerged and covered with thick tufts of grass and flowers as well as other foliage, it stands as a monument to a time when life in this terrace house in Oval, south London, was very differen
  
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• Persimmon profits rise 13% after help-to-buy boost

  21-08-2018 09:45 via theguardian.com
  Government scheme helps housebuilder thrive despite housing market slowdownThe housebuilder Persimmon has reported that its profits rose by 13% in the first half of the year, boosted by the government’s help-to-buy scheme and competitive mortgage deals.Pretax profits jumped to £516m from £457m in the six months to 30 June, and Persimmon said it expected further growth in the second half of the year, bucking the wider trend of a slowing UK housing market. Continue reading...
  
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• House of Fraser store closures: Flagship Oxford Street shop SAVED after late rescue

  21-08-2018 09:38 via feedproxy.google.com
  HOUSE of Fraser’s flagship store on Oxford Street in central London has been saved from closure, it has been announced.
  
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• House of Fraser's Oxford Street store saved from closure

  21-08-2018 09:30 via theguardian.com
  Mike Ashley’s Sports Direct strikes deal to keep store open despite collapse of chainHouse of Fraser’s flagship store on Oxford Street in central London has been saved from closure, following negotiations between its landlord and new owner Sports Direct.The key site had been due to close under a company voluntary arrangement (CVA) announced by the troubled department store chain in June, before it went into administration. Continue reading...
  
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• Investors betting against Tesla made $1.09bn since Elon Musk's tweet

  21-08-2018 09:00 via theguardian.com
  Musk tweeted on 7 August that he had ‘secured’ funding to take the company private, but so far no offer has been madeInvestors betting on a fall in Tesla’s share price have made $1.09bn since 7 August, when Tesla founder Elon Musk tweeted he had “secured” funding to take the troubled company private.The electric car company’s shares soared 11% to $379 after Musk’s so-called “Tesla tweet” that he had “funding secured” to buy out in
  
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• Heal’s failed to refund me for my faulty £1,250 Ercol desk

  21-08-2018 08:00 via theguardian.com
  I was sent a damaged product and there were parts missing on the replacementI ordered and paid for an £1,251 Ercol Pero desk from Heal’s in October last year (reduced from the full price of £1,390). It was delivered on 9 December. The “cable management tray” was faulty and there was other damage to the drawers, so I complained. It took until 30 January to receive confirmation Heal’s was sending a replacement. Meanwhile, I had disposed of the desk it was suppos
  
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• UK households face hidden debt of almost £19bn – Citizens Advice

  21-08-2018 01:02 via theguardian.com
  Missed bill payments and benefit repayments overtake credit cards as key money worryBritish households owe almost £19bn in utility bills, missed council tax payments and overpaid benefits, according to figures revealing a hidden debt mountain facing the country.Putting an estimate on the overall amount owed by people falling behind on essential bills for the first time, the estimate from Citizens Advice comes as UK households are under increasing financial pressure. The charity said missed
  
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• Liam Fox to offer UK firms help to export more after Brexit

  21-08-2018 01:01 via theguardian.com
  Trade secretary hopes package of measures will transform UK into an ‘exporting superpower’Liam Fox is to unveil a plan intended to increase Britain’s exports after Brexit to 35% of GDP as his cabinet counterpart Dominic Raab heads to Brussels for the latest round of divorce talks with the European Union.The international trade secretary believes there are 400,000 UK businesses that could export but do not, and will try to target them with better loans, guarantees and support &n
  
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