Financial news

• Bitcoin price: Economist reveals THIS simple correlation could predict bitcoin movements

  31-08-2018 22:50 via feedproxy.google.com
  BITCOIN price movement could be closely related to Google searches for the cryptocurrency, an economist has revealed.
  
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• Wonga administrators plan 'an orderly wind down' of payday lender

  31-08-2018 19:20 via theguardian.com
  Grant Thornton appointed to start the process of identifying all creditorsAdministrators have announced they will conduct “an orderly wind down” of the payday lender Wonga, which will involve the sale of assets and identifying creditors.Wonga, once Britain’s biggest payday lender, filed for administration after a flood of compensation claims and accounting firm Grant Thornton was appointed on Friday.Continue reading...
  
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• Coca-Cola buys Costa Coffee from Whitbread for £3.9bn

  31-08-2018 18:54 via theguardian.com
  ‘Other suitors weren’t wearing the right suit or driving the right car’ – Alison BrittainThe soft drinks giant Coca-Cola is buying the Costa Coffee chain in a near-£4bn deal that underlines the scale of the global coffee revolution.The takeover will overnight turn Coca-Cola into the UK’s biggest coffee shop player and give it a foothold in what is one of the world’s fastest-growing drinks categories. The global coffee shop market alone is worth $165bn (&
  
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• High time: Coca-Cola needs Costa as drinkers shift from fizzy pop to coffee

  31-08-2018 18:20 via theguardian.com
  Caffeinated beverages are big business with the global coffee shops market worth £127bnCoca-Cola buys Costa Coffee from Whitbread for £3.9bn
  The world is increasingly hooked on caffeine. Globally the coffee shop trade alone is now worth $165bn (£127bn), which reflects the march of coffee culture. “Over the last 20 years coffee has changed from a commodity into a lifestyle product as first of all consumers in western markets woke up to its appeal thanks to branded chains l
  
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• 'It snowballed … I took out more and more' – a Wonga user speaks

  31-08-2018 17:44 via theguardian.com
  Craig Jones turned to the lender at a time of crisis and broke free after getting compensationCraig Jones is now a successful local politician but when Wonga was in its prime he was one of many people who turned to the payday lender for help. Jones was in insecure employment on a zero-hours contract in 2011 when he turned to Britain’s then biggest payday lender. There was a lull in work and he “needed something to tide me over” while he waited for his finances to pick up.He too
  
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• Credit unions on the rise as membership passes 2 million

  31-08-2018 17:39
  Figures show growing popularity of a movement no longer just for poor peopleNew figures have shown that credit unions, long touted as offering a vital alternative to payday lenders, are on the rise.Despite support from many quarters, credit unions have remained relatively low-key in the UK. However, official figures from the Bank of England released on Friday reveal that the UK’s credit union membership has passed the 2 million mark for the first time. Continue reading...
  
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• Germany preparing for 'EXTREME Brexit' as majority of investors expect NO-DEAL scenario

  31-08-2018 17:11 via feedproxy.google.com
  GERMANY is preparing emergency measures for an “extreme Brexit” and the vast majority of investors now expect the UK to crash out of the EU without a deal.
  
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• Households 'will still turn to payday lenders despite Wonga collapse'

  31-08-2018 16:40
  Campaigners says economic pressures mean people will have to take out high-cost debtBritish households will continue to seek out payday lenders despite the collapse of Wonga, campaigners have warned, as tough economic conditions force people to take out high-cost debt. Continue reading...
  
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• Homebase rescued from collapse but 1,500 jobs to go

  31-08-2018 16:34 via theguardian.com
  Creditors approve CVA that entails 42 branch closures and landlords taking 90% rent cutsHomebase is to cut 1,500 jobs as part of a rescue deal that will save the DIY chain from bankruptcy and give it breathing space to recover from the disastrous stewardship of its previous owners.Creditors voted in favour of a company voluntary arrangement (CVA), that will lead to the closure of 42 out of 241 branches, with landlords of a further 70 stores agreeing to accept rent cuts of up to 90%. Continue rea
  
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• What is happening with Crossrail?

  31-08-2018 13:42
  Key questions answered on the causes and effects of the delay to the London rail project
  Although the rail minister Jo Johnson said last month that the project was 93% complete, Crossrail has admitted it ran out of time to adequately test the Elizabeth line trains across central London. Continue reading...
  
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• How TripAdvisor changed travel – podcast

  31-08-2018 13:00
  The world’s biggest travel site has turned the industry upside down – but now it is struggling to deal with the same kinds of problems that are vexing other tech giants like Facebook, Google and Twitter• Read the text version hereSubscribe via Audioboom, iTunes, Soundcloud, Mixcloud, Acast & Sticher and join the discussion on Facebook and Twitter Continue reading...
  
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• Viagogo to be taken to court by regulator over ticket resale practices

  31-08-2018 12:59
  Heavily criticised company to face high court after refusing to change how it operatesThe ticket resale website Viagogo is to be taken to court by the competition watchdog for alleged breaches of consumer law after refusing repeated requests to change its practices.The Competition and Markets Authority warned Viagogo earlier this year that it would face legal action if the company did not give consumers clear information about the tickets it advertised.Continue reading...
  
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• Pound v euro: GBP/EUR exchange rate dips

  31-08-2018 11:49 via feedproxy.google.com
  The pound has suffered a minor loss against the euro today, with the decline being caused by potential fears about the Brexit process. Sterling is currently trading at €1.114 in the GBP/EUR exchange rate, which is down from Thursday’s high of €1.116 but still better than the weekly opening rate of €1.104.
  
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• Pound v US dollar: Exchange rate holds above $1.3

  31-08-2018 11:35 via feedproxy.google.com
  The pound to US dollar exchange rate has climbed around a cent and a half this week. While it has been unable to hold its best level of $1.303, it remains near its best levels since the beginning of August, currently trading at $1.302.
  
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• UK house prices record biggest month-on-month fall in six years

  31-08-2018 11:25
  Nationwide says 0.5% monthly decline in August was biggest since July 2012UK house prices have had their biggest monthly fall for six years, lopping more than £2,200 off the typical price tag, according to Nationwide.The average property value fell by 0.5% – or £73 a day – in August, the biggest month-on-month decline since July 2012, Britain’s biggest building society said. In July, house prices increased by 0.7% month on month. Continue reading...
  
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• Bitcoin price LIVE: BTC hits resistance at $7k - Will bitcoin prices increase in 2018?

  31-08-2018 09:35 via feedproxy.google.com
  BITCOIN holds steady at just over $7,000 this morning after a small dip saw the digital token lose $100. Here are the latest news and live updates.
  
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• Bitcoin price: Expert says cryptocurrency must hold THIS price in order to RALLY

  31-08-2018 08:03 via feedproxy.google.com
  BITCOIN price hit above $7,000 at the start of the week and one crypto trader has said that if the cryptocurrency holds around $7,150 then it could be on its way back to $10,000.
  
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• Wonga made borrowing too easy – none of us will mourn its demise | Patrick Collinson

  31-08-2018 08:00
  The payday lender went a long way towards creating demand, not just satisfying itIt was the 1980s, I was drifting in and out of low-paid jobs, and near constantly broke. When the cash machine wouldn’t shell out any more, when the credit card was maxed out, my last resort was a shabby exchange bureau near Oxford Circus. They would accept me writing a cheque for £50 with a cheque guarantee card (remember them?). We both knew it would bounce. But the guarantee meant he got his £50
  
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• What will happen with my prepaid debit cards after Brexit?

  31-08-2018 07:59
  The terms of my multi-currency card say it may be suspended if I move outside the EEAI recently received an email from Caxton currency cards to tell me about the changes in their terms and conditions. Section 4 states that “if the customer moves outside the EEA we may suspend their card”. Continue reading...
  
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• Alan Rusbridger: who broke the news?

  31-08-2018 07:00 via theguardian.com
  The former editor-in-chief of the Guardian looks back on two decades that changed journalism for ever. By Alan RusbridgerBy early 2017 the world had woken up to a problem that, with a mixture of impotence, incomprehension and dread, journalists had seen coming for some time. News, the thing that helped people understand their world, that oiled the wheels of society, that pollinated communities, that kept the powerful honest – news was broken.The problem had many different names and diagnos
  
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• Wonga collapses after surge in payout claims

  31-08-2018 02:15 via feedproxy.google.com
  PAYDAY lender Wonga is going into administration after it collapsed under a barrage of compensation claims.
  
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