Financial news

• British Airways customer data stolen from its website

  06-09-2018 23:43 via theguardian.com
  Airline urges customers to contact banks after 380,000 payment cards affectedBritish Airways is investigating the theft of customer data from its website and app over a two-week period and has urged customers affected to contact their banks or credit card providers.The airline said around 380,000 payment cards had been compromised and it had notified the police. Continue reading...
  
  Read more

• Further budget cuts likely if UK crashes out of EU, warns Hammond

  06-09-2018 20:56 via theguardian.com
  Warning comes as document entitled Operation Yellowhammer reveals contingency planning for no-deal Brexit Philip Hammond has warned that the government would have to refocus its priorities if the Brexit negotiations resulted in no deal, as details emerged of a Whitehall contingency plan codenamed Operation Yellowhammer.After Treasury minister John Glen was photographed in Downing Street with a briefing document about planning for no deal, Hammond hinted other areas of public spending would have
  
  Read more

• Ofgem's energy price cap could be a muddle that satisfies no one | Nils Pratley

  06-09-2018 20:16 via theguardian.com
  Think of the price cap as a command to companies to shed costs – meaning jobsLet’s be generous to the Ofgem chief, Dermot Nolan. He’s produced a respectable fudge, as he was told to. Parliament gave him the tricky job of setting an energy price cap at a level that prevents “rip-off” pricing but still encourages customers to switch suppliers, goals that pull in opposite directions. A figure of £1,136 – being the proposed upper limit for a standard variabl
  
  Read more

• The UK economy needs reform, not revolution - Financial Times

  06-09-2018 19:54
  Financial Times
  The UK economy needs reform, not revolution
  Financial Times
  The UK economy has many strengths, with innovative, world-beating industries including financial and professional services, and a proud history of scientific innovation. It equally has weaknesses, exacerbated by the 2007-08 financial crisis and the ...
  
  Read more

• Advertisement

• Ryanair amends controversial new baggage policy

  06-09-2018 17:29 via theguardian.com
  Change is second time this year Ryanair amended policy as increasing numbers of passengers travel with small, wheelie casesRyanair has amended its controversial new baggage policy to allow 2 million customers who had already booked flights to stow their wheelie cases for free.Last month Europe’s biggest budget carrier announced wheelie cases under 10kg would no longer be allowed in its cabin from November, except for passengers booking priority boarding at a cost of £6 (or the same n
  
  Read more

• What does energy price cap mean for households and firms?

  06-09-2018 15:30 via theguardian.com
  From whether you should switch suppliers to how it could lead to job cuts Bills to be cut by around £75 for more than 11m households
  More than half of households are on a default tariff, known as standard variable tariffs (SVT). If you are on one – and you probably are, if you haven’t switched in recent years – you will save money when the cap starts in late December. The exact amount depends on the supplier, region and energy usage. For example, those on Scottish Power&r
  
  Read more

• Bitcoin price LIVE: BTC suffers a sharp drop, losing $800 - is bitcoin crashing?

  06-09-2018 14:10 via feedproxy.google.com
  Bitcoin prices plummeted overnight after a sudden flurry of trades saw prices fall by more than $100. Here are the latest news and live updates.
  
  Read more

• Why won’t the RAC refund me when it was hours late?

  06-09-2018 13:46 via theguardian.com
  I was effectively abandoned for eight hours but was only offered £30 compensationMy tyre blew on the M4 one evening and I was forced to stop on the slip road because it disintegrated as I tried to exit the motorway.I called the RAC which took over 10 minutes to answer. While I was trying to contact them, a Highways England team arrived and made the car safe as I was in a “live” lane.Continue reading...
  
  Read more

• Advertisement

• Labour’s sole focus should be closing Britain’s wealth gap | Polly Toynbee

  06-09-2018 13:34 via theguardian.com
  While the super-rich get richer, those left at the bottom are in increasingly dire straitsNothing shocks any more in the realms of unimaginable wealth. The ranks of the global super-rich – those with more than $30 (£23m) – swelling by 13% last year barely merit a mention today, beyond the Guardian’s sharp-eyed wealth correspondent. The number of dollar billionaires has shot up by 15% too.It’s rude to call them rich so they prefer “ultra-high net worth”:
  
  Read more

• Pound US dollar exchange rate: GBP rebounds against USD after Brexit concessions report

  06-09-2018 12:02 via feedproxy.google.com
  THE pound is down slightly against the US dollar this morning and is currently trading at $1.2928. Yesterday saw the pound spike around a cent against the dollar on reports of an agreement being reached between the UK and Germany.
  
  Read more

• Asda to scrap price guarantee scheme next month

  06-09-2018 12:01 via theguardian.com
  Retailer is last of big four grocers to axe money-saving deal as it focuses on price cutsAsda will abandon a scheme that refunds shoppers the difference if the goods they purchase are more expensive than in rival supermarkets, after other chains scrapped similar programmes.The supermarket, which has agreed to a takeover by its bigger rival Sainsbury’s, said the scheme was no longer relevant and it would instead invest in lowering prices. Continue reading...
  
  Read more

• Pound euro exchange rate: GBP near weekly lows as officials deny Brexit breakthrough

  06-09-2018 11:33 via feedproxy.google.com
  THE pound is trading near the lowest level of the week against the euro today, hitting an exchange rate of €1.110. The pound briefly rose to a weekly high of €1.115 yesterday on Brexit news, but this has failed to provide lasting support for the UK currency.
  
  Read more

• Drone footage shows world's largest offshore windfarm – video

  06-09-2018 11:14 via theguardian.com
  The world’s largest offshore windfarm has opened off the Cumbrian coast. Walney Extension covers 145 sq km of the Irish Sea and has a capacity of 659 megawatts, enough energy to power 590,000 homesWorld’s largest offshore windfarm opens off Cumbrian coast Continue reading...
  
  Read more

• Energy bills to be cut by around £75 for more than 11m households

  06-09-2018 08:39 via theguardian.com
  Ofgem figure falls short of £100 promised by PM for customers on poor-value tariffsWhat does cap mean for households and firms?
  More than 11m households will have their energy bills cut by about £75 a year under a price cap being imposed by the industry regulator, Ofgem, following a political outcry over companies taking advantage of loyal customers.The average saving falls short of the £100 that Theresa May promised for consumers on poor value default tariffs before she handed
  
  Read more

• Barratt building on £835m profits

  06-09-2018 06:04 via feedproxy.google.com
  BARRATT Developments sold its largest number of homes for a decade and insisted there is room for further growth as it shrugged off Brexit uncertainty to post a record annual profit. Britain’s biggest house-builder completed 17,579 homes in the year to June 30, up 1.1 per cent on the previous year, while the average selling price was up 5 per cent to £288,900.
  
  Read more

• Personal debts 'shear almost £900m off British economy'

  06-09-2018 01:01 via theguardian.com
  Watchdog calculates cost to business and public purse of indebted and stressed adults – not helped by harsh bailiffsThe British economy is losing almost £900m a year from the rapid rise in personal debt problems, according to a report from the Whitehall spending watchdog.The National Audit Office (NAO) report said reduced levels of worker efficiency, people staying away from work and greater chances of people in debt committing crime, meant there was a wider cost of £897m annua
  
  Read more

Follow @financialnwsUK on Twitter!