Financial news

• UK Pension SuperFund loses CEO, biggest financial backer - Financial Times

  07-09-2018 20:51
  UK Pension SuperFund loses CEO, biggest financial backer
  Financial Times
  The Pension SuperFund, the UK's first pension consolidator, has suffered a blow as its chief executive and biggest financial backer walk away from the venture six months after it was launched by City financier Edi Truell. In March, Mr Truell, founder ...
  
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• Ryanair crew consider biggest strikes in company's history

  07-09-2018 19:54 via theguardian.com
  Unions representing cabin staff threaten to extend summer of industrial action into the autumnRyanair cabin crew have said they are considering the biggest strikes in the airline’s history unless it agrees to improved working conditions.The Dublin-based airline suffered its worst ever strikes this summer, as action by pilots and cabin crew forced it to cancel flights, including to major holiday destinations such as Italy, Portugal and Spain. Continue reading...
  
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• Small UK software providers see light in AI - Financial Times

  07-09-2018 18:48
  Financial Times
  Small UK software providers see light in AI
  Financial Times
  Businesses from asset managers to outsourcing companies are starting to use machine learning, where computers build knowledge independently from contact with data, to cut costs and understand their customers and markets better. Some have moved ...
  
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• ‘Rogue trader’ appeals to May and Javid to ‘show compassion’

  07-09-2018 17:50 via theguardian.com
  Former banker Kweku Adoboli faces deportation to Ghana, which he left when he was fourKweku Adoboli considers himself “very British, but more a Yorkshireman”. He has lived in the UK for the last 26 years, paid UK taxes and his favourite desert is apple crumble.But in the eyes of the law, Adoboli is not British, and his failure to get around to applying for citizenship has left him facing deportation to Ghana, his country of birth which he left as a four-year-old. He could be sent to
  
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• Let’s move to Southwold, Suffolk: a pretty face showing signs of stress

  07-09-2018 17:30 via theguardian.com
  What it’s experiencing now is the logical end to gentrificationWhat’s going for it? If civil war ever breaks out between baby boomers and millennials, there’s a fair chance it’ll begin on Southwold Pier. The pier has already witnessed “Sandwichgate”, when a family munching homemade sarnies and an elderly couple nibbling cake out of a Tupperware were reprimanded by staff who insisted they eat at the pier’s (somewhat pricey) cafes. The latest skirmish is a
  
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• Tesla shares crash after Elon Musk smokes joint on live web show

  07-09-2018 16:39 via theguardian.com
  Two senior executives quit electric carmaker as market value falls 8%Tesla shares crashed 8% on Friday as two of its senior executives quit, just hours after the electric carmaker’s chief executive Elon Musk sparked concern by smoking marijuana on a live web show.The company’s head of accounting, Dave Morton, and head of human resources, Gaby Toledano, said they were leaving the company, which has been placed at the centre of a string of controversies by its maverick CEO. Continue re
  
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• Pasty wars: disquiet in Cornwall as Greggs store opens

  07-09-2018 15:34 via theguardian.com
  Concerns chain, whose pasties cannot be labelled as Cornish, could threaten small bakeriesGreggs has caused consternation by daring to open an outlet in the land of the Cornish pasty when its own pasties do not qualify for the famous food designation.Bakers in Cornwall said they were sure any loyal Cornish person would shun a Greggs bake in favour of a true Cornish pasty but expressed concern that the chain’s buying power could threaten smaller producers. Continue reading...
  
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• House prices rose at fastest rate in almost a year, says Halifax

  07-09-2018 14:39 via theguardian.com
  Lender’s August data differs from that of rival Nationwide, pointing to north-south marketHouse price inflation has risen to its highest rate in nearly a year, according to Halifax, with prices accelerating at an annual rate of 3.7%, significantly above the rate of wage growth.Britain’s biggest mortgage lender said the price of an average home in the UK hit a record £229,958 in August despite the month-on-month increase slowing to 0.1%. Continue reading...
  
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• US economy adds 201,000 jobs as unemployment rate holds at 3.9%

  07-09-2018 14:34 via theguardian.com
  US adds jobs for 95 months in a row – a record growth streak
  But rate appears to slow and wage growth continues to lag
  America’s record-breaking streak of job growth continued in August with the US economy adding 201,000 jobs as the unemployment rate remained steady at 3.9%.The US has now added jobs every month for 95 months in a row – the longest streak of uninterrupted growth on record. There are signs that the rate is slowing, however, and wage growth continues to lag as it
  
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• How Great Western Railway shunted forward calls for an industry overhaul

  07-09-2018 14:34 via theguardian.com
  Trouble on the FirstGroup line has fuelled demands for a review of the entire British rail systemIn a year when a major intercity franchise collapsed, passenger numbers dwindled and a timetable change threw commuter train services into turmoil, it is little wonder that a sense of crisis has pushed the government to consider a rail review.Outcry over ever-rising fares, Virgin’s East Coast failure, then Thameslink and Northern chaos have all captured the headlines. Yet beyond all that, passe
  
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• How did hackers manage to lift the details of BA customers?

  07-09-2018 13:53 via theguardian.com
  Airline says only information entered within a two-week period was takenBritish Airways customer data stolen from its website
  BA chief vows to compensate customers after data breach
  BA data breach: what to do if you have been affectedAs British Airways reels from yet another IT scandal, speculation about how the “world’s favourite airline” could allow the credit card details of 380,000 customers to be stolen from under its nose for two weeks swirls.Answers on exactly how the cr
  
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• Pound euro exchange rate: GBP muted as Hammond warns of no-deal Brexit

  07-09-2018 13:33 via feedproxy.google.com
  THE pound euro exchange rate is currently trading at €1.111, with the pairing unable to make any headway at the start of the European session. The pound is struggling this morning after Chancellor Philip Hammond warned of further budget cuts if the UK crashes out of the EU without a deal.
  
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• Energy price cap could be a muddle that satisfies no one | Nils Pratley

  07-09-2018 13:09 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
  
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• Nike releases full ad featuring Colin Kaepernick – video

  07-09-2018 13:01 via theguardian.com
  Nike has unveiled its first 'Just Do It' ad narrated by Colin Kaepernick. The two-minute commercial highlights superstar athletes LeBron James, Serena Williams and others, and touches on the controversy of NFL players protesting against racial inequality, police brutality and other issues by kneeling during the national anthem.The endorsement deal between Nike and Kaepernick has triggered a flood of debate, with some calling for a boycott of the company's products
  Is Colin Kaepernick's Nike deal
  
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• Waterstones buys Foyles 'in face of Amazon's siren call'

  07-09-2018 12:48 via theguardian.com
  Takeover will make business better able to ‘champion pleasures of real bookshops’ Waterstones is buying the historic family-owned book chain Foyles in a surprise deal billed as an antidote to the “siren call” of online rival Amazon.The sale brings down the curtain on the independence of one of Britain’s best known bookselling dynasties, with Foyles most famous for its Charing Cross Road branch in London. Continue reading...
  
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• UK homeowners opt for five-year mortgages amid economic worries - Financial Times

  07-09-2018 12:20
  Financial Times
  UK homeowners opt for five-year mortgages amid economic worries
  Financial Times
  Five-year fixed rate mortgage deals have overtaken two-year options as UK homeowners worried about the economy lock into lower interest rates, according to lenders and brokers. Amid an opaque outlook for Britain's post-Brexit economy and rising Bank of ...
  
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• Pound US dollar exchange rate: GBP rises on fears of US-Japan trade clash

  07-09-2018 11:03 via feedproxy.google.com
  THE pound is trading higher against the US dollar today, hitting $1.293 on the exchange rate. At a time when fears about an escalating US-China trade war have dominated the headlines, signs of a fresh new front opening up with Japan have added to these existing worries.
  
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• Tony Blair hints at creation of UK centrist party - Financial Times

  07-09-2018 10:20
  Financial Times
  Tony Blair hints at creation of UK centrist party
  Financial Times
  Tony Blair has hinted that a new UK centrist party might emerge in the coming months, saying that the public will want “an acceptable choice” at the next general election. His comments came as Vince Cable, the leader of Britain's pro-EU Liberal ...en meer »
  
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• BA chief pledges to compensate customers after data breach

  07-09-2018 10:09 via theguardian.com
  Álex Cruz apologises for ‘sophisticated’ theft affecting 380,000 payment cardsHave you been affected by the breach? Let us know
  The chief executive of British Airways has promised to compensate customers who have had their data stolen in what he described as a sophisticated breach of the company’s security systems. Related: British Airways data breach: what to do if you have been affectedContinue reading...
  
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• British Airways data breach: what to do if you have been affected

  07-09-2018 09:55 via theguardian.com
  From which payments have been compromised to future bookings and compensationBritish Airways customer data stolen from its website
  BA chief vows to compensate customers after data breach
  How did hackers manage to lift the details of BA customers?British Airways has warned customers that about 380,000 card payments on its website and app were compromised during a 15-day data breach. Here is what to do if you think you have been affected. Continue reading...
  
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• Profits v planet: can big business and the environment get along? | Yossi Sheffi

  07-09-2018 08:30 via theguardian.com
  Sustainability can bring benefits to everybody – including company execs with their eyes on the bottom lineWarren Buffett said, “It takes 20 years to build a reputation and five minutes to ruin it.” It has been more than two decades now since a 1996 issue of Life magazine depicted a Pakistani boy sewing a Nike soccer ball, reportedly for six cents per hour. After the story, the company lost more than half its market capitalisation in just one year – it took Nike six years
  
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• Homes for sale in national parks – in pictures

  07-09-2018 08:00 via theguardian.com
  Enjoy panoramic views from these properties, from Scotland to West SussexContinue reading...
  
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• The real Goldfinger: the London banker who broke the world

  07-09-2018 07:00 via theguardian.com
  The true story of how the City of London invented offshore banking – and set the rich freeEvery January, to coincide with the World Economic Forum in Davos, Oxfam tells us how much richer the world’s richest people have got. In 2016, their report showed that the wealthiest 62 individuals owned the same amount as the bottom half of the world’s population. This year, that number had dropped to 42: three-and-half-dozen people with as much stuff as three-and-a-half billion.This yea
  
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• UK fintech sector in buoyant mood as valuations soar - Financial Times

  07-09-2018 05:01
  Financial Times
  UK fintech sector in buoyant mood as valuations soar
  Financial Times
  While British politicians squabble about Brexit, one group seems immune to the uncertainty hanging over the country: the new generation of financial technology companies that have sprung up in the past decade to challenge traditional banks. The buoyant ...
  
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• Melrose gets in gear to turn GKN around

  07-09-2018 04:54 via feedproxy.google.com
  MELROSE Industries is to unlock the “full potential” of engineering giant GKN which it paid £8billion for this year, despite the costs of the acrimonious takeover battle pushing it into the red. The turnaround specialist created a £10billion industrial powerhouse after narrowly succeeding in Britain’s biggest hostile takeover battle for a decade.
  
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• UK high streets suffer worst August sales in three years

  07-09-2018 01:01 via theguardian.com
  Rising inflation and falling wage growth add to woes of traditional retailersThe UK high street has posted its worst August performance for three years, in further evidence of the pressure on traditional retailers.Underlying sales at physical stores slid 2.7% last month, compared with August 2017, with homewares and fashion taking the biggest hit, according to the latest data from the advisory firm BDO, which monitors mid-sized, non-food chains. Continue reading...
  
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