Financial news

• Owners of Manchester flats face huge bills after forced evacuation

  21-09-2018 23:08 via theguardian.com
  Claim for £16m lodged after fire officers banned people from living in five-storey block Owners of flats in a Manchester complex which was marketed as an “outstanding” investment opportunity are facing huge losses after the fire brigade banned people from living there.The first residents moved into New Lawrence House in 2009 but were forced to move out the week after the Grenfell Tower fire in 2017 after serious safety faults were identified. Continue reading...
  
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• Europe carmakers SUFFER amid burgeoning trade war between Donald Trump and EU

  21-09-2018 21:24 via feedproxy.google.com
  EUROPE is beginning to suffer amid the developing trade war between Donald Trump and the EU with factory growth stagnating this month.
  
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• Bitcoin price: Cryptocurrency begins to rise in value - could it reach highs of last year?

  21-09-2018 20:56 via feedproxy.google.com
  BITCOIN has had a tumultuous year, plummeting in value from a high of $20,000 in December 2017. But is the cryptocurrency on its way back up?
  
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• Is money-laundering scandal at Danske Bank the largest in history?

  21-09-2018 19:06 via theguardian.com
  Scale of fiasco highlights need for stricter regulation and cross-border force in EuropeThe Russian-speaking caller refused to give a name but the threat was explicit: “Do you really feel you can walk home safely at night?”It was 2013 and officers at the Estonian branch of Danske Bank were beginning to realise they had taken on some very unpleasant customers. After a tipoff, a member of staff had travelled to Moscow and started asking questions. The team was trying to trace the ident
  
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• Uber bid to buy Deliveroo could give founder £150m payout

  21-09-2018 19:05 via theguardian.com
  Reports say Uber Eats is in talks to gobble up London-based rival food app for £1.5bnThe Deliveroo founder Will Shu could be set for a payout of nearly £150m ($200m), with reports that Uber has been in talks to buy the London-based food delivery service for at least £1.5bn.Uber has said it wants to build scale in the takeaway delivery market as its Uber Eats service battles heavy competition in the US from Grubhub. Continue reading...
  
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• RBS and Barclays asked to explain 'addition to litany of IT failures'

  21-09-2018 18:21 via theguardian.com
  Treasury committee head calls for compensation for customers after latest glitchesThe head of the powerful Treasury Committee, Nicky Morgan MP, is demanding answers from RBS and Barclays – and compensation for customers – after technical failures left millions of users locked out of their accounts.Royal Bank of Scotland, NatWest and Ulster Bank customers were unable to access online and mobile accounts between 5am and 10.30am on Friday morning, in the latest blow for confidence in Br
  
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• Let’s move to Leytonstone: the Olympics still niggles, but it’s on good form

  21-09-2018 17:30 via theguardian.com
  It’s quite humdrum, but mostly in a nice wayWhat’s going for it? The new Walthamstow. Or that might be Leyton, I forget. Or Maryland. Or Forest Gate. There are so many contenders for Outer East End Hotspot these days I can’t keep up. Blame 2012. The Olympics splattered money round these parts, in the form of newly minted bollards and cheery paint schemes. It also divided opinion. Strike up a conversation about “it” in the queue at Percy Ingle on the High Road and si
  
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• Auction to settle Sky fight in final episode

  21-09-2018 16:13 via feedproxy.google.com
  SKY'S future is set to be decided this weekend when its two American suitors go head-to-head in a quick-fire auction.
  
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• Northern is a disaster. Why have commuters been left to face it alone? | Kate Anstee

  21-09-2018 16:02 via theguardian.com
  I founded Northern Resist to protest a rail service that is ruining passengers’ lives. When will the government step in?The service provided by Northern (rail) has fallen well below a decent standard for many years now, but has significantly worsened since Arriva took over the franchise in 2016. I founded the Northern Resist group to protest about how difficult people’s lives were becoming to manage as a result of a train service that is so integral to the country’s functioning
  
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• Idris Elba's Parrot bar adds shot of celebrity to London’s cocktail mix

  21-09-2018 15:07 via theguardian.com
  Actor’s Aldwych venture has ‘A-list surprises’, chauffeur-driven Aston Martins and DJ Driis on the decksIdris Elba is the latest celebrity planning to open a luxury bar for his actor pals to hang out in alongside wealthy drinkers.When Elba’s bar, the Parrot, opens at the Waldorf Hilton hotel on Aldwych next month it will be the first London bar to offer its clientele a ride to and from the venue in a chauffeur-driven Aston Martin. It is also promising “a whole host
  
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• Ex-BHS owner Dominic Chappell loses appeal against conviction

  21-09-2018 14:37 via theguardian.com
  Judge says evidence submitted by Chappell was ‘untrue’ and without credibilityA judge has branded the former BHS owner Dominic Chappell “evasive” and “entirely unbelievable” as his appeal against his failure to hand over vital documents to the pensions watchdog was rejected on Friday.Chappell, 51, showed no emotion as a judge dismissed his claims that he had “done everything in his powers” to help provide the information. Continue reading...
  
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• Jack's Little Englandism is about as convincing as its Cornish camembert | Rivkah Brown

  21-09-2018 14:10 via theguardian.com
  The new Tesco chain prides itself on its British products – but it’s really selling the myth of post-Brexit self-sufficiencyIn the early hours of Thursday morning in Chatteris, Cambridgeshire, an orderly queue began to form in the drizzle. No celebrity awaited the hardy queuers, no new iPhone or EL James novel. No, what occasioned this marathon of patience was the opening of Tesco’s first discount store, Jack’s. Aimed at giving Aldi and Lidl – who in the past five y
  
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• Money for nothing? Dire Straits back-catalogue investment venture launched

  21-09-2018 13:44 via theguardian.com
  Firm has scheme that allows individuals, hedge funds and others to buy share of royaltiesFirst it was David Bowie selling his own “Bowie bonds”, and now fans of Dire Straits are being given the chance to invest in the band’s multimillion-selling back catalogue.A new investment scheme has been launched that allows individuals, hedge funds and others to buy a share of the royalties that are paid out every time one of the British rock band’s songs or albums is bought, downlo
  
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• Money for nothing? Dire Straits back-catalogue bond launched

  21-09-2018 13:44 via theguardian.com
  British rock band follow in David Bowie’s footsteps with chance to invest in royaltiesFirst it was David Bowie selling his own “Bowie bonds”, and now fans of Dire Straits are being given the chance to invest in the band’s multimillion-selling back catalogue.A new investment scheme has been launched that allows individuals, hedge funds and others to buy a share of the royalties that are paid out every time one of the British rock band’s songs or albums is bought, dow
  
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• Why can’t I get a no-claims bonus on my second car?

  21-09-2018 13:27 via theguardian.com
  I’ve built up 10 years’ discount on one car but can’t use it for a second vehicleI bought a second car and found an insurance quote. I sent a copy of the insurance certificate for my other car showing 10 years’ no-claims discount (NCD) but was told I would have to pay almost £90 more because I needed to build up an NCD on my new car. How can I have 10 years driving one vehicle and none driving another? VW, Leicestershire Continue reading...
  
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• Five of the best bungalows for sale – in pictures

  21-09-2018 13:27 via theguardian.com
  There’s no need for stairs at any of these five properties, from Devon to Yorkshire Continue reading...
  
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• Bungalows for sale – in pictures

  21-09-2018 13:27 via theguardian.com
  There’s no need for stairs at any of these five properties, from Devon to Yorkshire Continue reading...
  
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• Church of England pulls out of Wonga rescue effort

  21-09-2018 13:17 via theguardian.com
  Justin Welby says church has decided not to participate in buyout of payday lenderThe Church of England has pulled out of an attempt to buy the loan book of the collapsed payday lender Wonga following a week of talks led by the archbishop of Canterbury, Justin Welby, aimed at protecting the interests of vulnerable borrowers.The move creates fresh uncertainty for around 200,000 borrowers who could now be forced to pay back their debts at high rates by a commercial lending firm. Continue reading..
  
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• UK government deficit widens unexpectedly in August

  21-09-2018 12:45 via theguardian.com
  Results likely to frustrate chancellor as he prepares to fund pledge for £20bn annual rise in NHS fundingThe UK government deficit widened unexpectedly in August, handing Philip Hammond disappointing news ahead of the autumn budget.Public sector net borrowing last month, excluding the nationalised banks, grew by £2.4bn to £6.8bn compared with August a year ago, according to the Office for National Statistics. Continue reading...
  
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• Pound euro exchange rate: GBP slumps after EU leaders condemn Chequers plan

  21-09-2018 12:21 via feedproxy.google.com
  THE pound euro exchange rate is currently trading at €1.121, down 0.5 per cent from today’s opening levels and striking a new weekly low.
  
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• Pound US dollar exchange rate: GBP drops after EU leaders condemn May’s Brexit plan

  21-09-2018 11:36 via feedproxy.google.com
  THE pound has fallen by -0.4 per cent against the US dollar today, hitting an exchange rate of $1.322. Despite this decline, the pound US dollar exchange rate remains near its highest level since early July.
  
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• Bitcoin price: Cryptocurrency expert says bitcoin could bounce back for THIS reason

  21-09-2018 11:32 via feedproxy.google.com
  BITCOIN price has plunged by 51 percent this year after experiencing a “classic speculative global mania” in 2016 to 2017 when it almost hit $20,000 last December, cryptocurrency boss Michael Novogratz has said.
  
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• RBS and NatWest customers locked out in latest banking glitch

  21-09-2018 10:46 via theguardian.com
  Bank apologises for technical error blocking online and mobile account holders from logging inRoyal Bank of Scotland, NatWest and Ulster Bank customers were locked out of online and mobile accounts in the latest blow for confidence in Britain’s online banking infrastructure.Users on Twitter began reporting issues in the early hours of Friday, saying they were unable to access the app or online banking services. However, the bank restored services shortly after 10am. Continue reading...
  
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• Donald Trump’s currency confusion continues | Jeffrey Frankel

  21-09-2018 10:17 via theguardian.com
  The US president blames China but even a basic understanding of economics shows it’s his own policies that bloat the dollarNext month, the US Department of the Treasury is due to submit to Congress its biannual report detailing which countries, if any, are manipulating their currencies to gain an unfair trade advantage. For his part, President Donald Trump is already accusing China of doing so, as he did throughout the 2016 election campaign. And he is reportedly trying to influence the Tr
  
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• Don’t buy the Brexit hype: it’s a border in the Irish Sea or the customs union | Jonathan Lis

  21-09-2018 09:00 via theguardian.com
  The rejection of the Chequers plan at Salzburg was no surprise – the EU will never accept a fudge on the Irish borderDonald Tusk’s clear rejection of Theresa May’s Chequers plan at the Salzburg summit yesterday should not come as a surprise. The most important lesson of the Brexit negotiation is that it is not a negotiation, and never has been. Blessed with superior size, wealth and power, the EU has been able to dictate the framework and substance of the talks, and has refused
  
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• Fragmented railways will never work, public or private | Simon Jenkins

  21-09-2018 07:00 via theguardian.com
  As long as Britain’s trains and infrastructure are run as separate entities, the chaos will continueImagine going into a restaurant, sitting down and giving your order to the waiter. The order is then passed into a back kitchen, where someone employed by a different owner is contracted to cook it, arguing all the time with his lawyers and accountants over the recipe and the price. That is Britain’s rail system, born of idiocy and ideology in Whitehall 25 years ago. It is demoralised
  
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