Financial news

• World markets rattled by US inflation concerns

  04-10-2018 22:19
  Countries that borrowed heavily in dollars could be hit by further interest rate riseMounting concern about the inflationary impact of falling US unemployment has sent tremors through global financial markets amid fears that the long post-financial crisis rally in asset prices is nearing its end.The effective interest rate on 10-year benchmark US bonds reached their highest level for seven years after the latest snapshot of the American labour market showed fewer workers claiming jobless benefit
  
  Read more

• BlackRock, loosen up about Unilever – say what you think

  04-10-2018 20:26
  The world’s biggest manager of other people’s money is surprisingly reluctant to talk about such a high-profile proposalWe know what many big-name fund management houses think of Unilever’s proposal to go Dutch. The UK brigade, including Aviva Investors, Columbia Threadneedle, L&G, M&G, Royal London and Schroders, have been commendably open in saying they will vote against the company’s plan to re-domicile in the Netherlands.These fund managers have probably spoke
  
  Read more

• Britain's summer heatwave hits profits at DFS and Ted Baker

  04-10-2018 20:12
  Pretax profits down almost 50% at sofa chain, as fashion brand reports tough half-yearThe chief executive of the sofa chain DFS has blamed a collapse in profits on an “exceptional downturn” during the summer heatwave, with poor figures from fashion brand Ted Baker adding to the latest bout of high street gloom.Ian Filby said the hottest summer in decades meant Britons had abandoned their usual weekend shopping trips to retail parks to buy furniture. Continue reading...
  
  Read more

• O2 apologises for major network outage across UK

  04-10-2018 19:56 via theguardian.com
  People in densely populated areas reported being unable to use their O2 devicesThe telecommunications network O2 has apologised after its service went down on Thursday afternoon, leading to thousands of complaints from customers across the UK who were unable to use their mobile phones.People in the most densely populated areas of all four UK nations reported being unable to use their O2 devices, according to the online tracking service Down Detector. In response, O2 said its engineers were looki
  
  Read more

• Advertisement

• Government paying lip service to industrial strategy – Vince Cable

  04-10-2018 19:15
  Brexit has ‘sucked the energy out of Whitehall’, says Liberal Democrat leaderThe Liberal Democrat leader, Vince Cable, has accused the government of paying lip service to its plan for an industrial strategy, after failing to establish a watchdog to help deliver it nearly a year after it was first announced.Cable, who was business secretary in the coalition government with the Conservatives, said that “Brexit has sucked the energy out of Whitehall”, delaying the implementa
  
  Read more

• Is austerity really over? Theresa May's promise lacks key details

  04-10-2018 17:25
  PM’s announcement doesn’t reflect current Treasury policy as departments still face cutsTheresa May announced an end to austerity in her Conservative party conference speech this week. However, the statement raised questions about how the Tories’ cornerstone economic policy can be unwound.Did Theresa May give a timeframe for ending austerity this week? Continue reading...
  
  Read more

• 'It has to stop now': hospitality employees strike over conditions – video

  04-10-2018 16:52
  McDonald’s, TGI Fridays and Wetherspoon employees are among workers taking strike action to demand better working conditions across the hospitality sector. The TUC general secretary, Frances O’Grady, backed them, saying: 'These are often young workers who increasingly feel they have nothing to lose. They are on low pay, often without training and often on zero-hour contracts'Labour is 100% behind McStrike, John McDonnell tells rally Continue reading...
  
  Read more

• China planted chips in Apple and Amazon servers, report claims

  04-10-2018 15:54
  Both firms deny report they found chips giving backdoor access to computers and dataA Chinese military unit has been inserting tiny microchips into computer servers used by companies including Apple and Amazon that give China unprecedented backdoor access to computers and data, according to a new Bloomberg report.The tiny chips, as small as the tip of a sharpened pencil and designed to be undetectable without specialist equipment, were implanted on to the motherboards of servers on the productio
  
  Read more

• Advertisement

• Thomas Cook rules out compensation for no-deal Brexit disruption

  04-10-2018 15:46 via theguardian.com
  Airline and tour operator amends terms but says it will still reimburse ticket costsBritish tourists travelling with Thomas Cook will not receive compensation or expenses should their flights be grounded as a result of a no-deal Brexit, the company has said.The airline and tour operator, a specialist in package holidays, changed its terms and conditions to reflect the risk of the UK crashing out of the EU without a deal, including on aviation. Continue reading...
  
  Read more

• Wetherspoons dishes out poverty wages. That’s why I’m striking | Katie Southworth

  04-10-2018 15:07
  Across the hospitality sector, workers like me are finding there’s strength in numbers. Together, we will win the fight for changeToday, I will go on strike for the first time in my life. I’m taking this action with my fellow Wetherspoons workers, and workers at TGI Fridays and McDonald’s. Together we’re supporting each other so we can have the strength to create change across the hospitality sector.Our demands are simple: a minimum of £10 an hour for all workers, a
  
  Read more

• Danske Bank CRISIS: Denmark’s largest bank probed over £177bn money laundering scandal

  04-10-2018 14:30 via feedproxy.google.com
  DANSKE BANK is being investigated over a £177 billion money laundering scandal involving its Estonian branch. Denmark’s largest bank is facing a probe by the US Department of Justice and is said to be cooperating with US authorities.
  
  Read more

• Labour is 100% behind McStrike, John McDonnell tells rally

  04-10-2018 14:16
  McDonald’s, TGI Fridays and Deliveroo workers among those involved in walkoutsThe first nationwide strike of its kind by workers from companies including McDonald’s, Wetherspoons and Uber has been hailed as a watershed moment in moves to organise in sectors where unions have struggled to take root.A day of unprecedented action across eight British cities saw workers from the retail and hospitality sector take part in coordinated walk-outs supported by unions, campaign groups and the
  
  Read more

• Danske Bank faces US investigation into money laundering

  04-10-2018 13:30
  Denmark’s largest bank cooperating with Department of Justice over Estonian branch Danske Bank faces a criminal investigation by US authorities over a €200bn (£177bn) money-laundering scandal involving its Estonian branch.Denmark’s largest bank said on Thursday that it had “received requests for information from the US Department of Justice in connection with a criminal investigation relating to the bank’s Estonian branch”. Continue reading...
  
  Read more

• Pound US dollar exchange rate: GBP steady despite plummeting car sales

  04-10-2018 13:23 via feedproxy.google.com
  THE pound has advanced against the US dollar today but remains near a weekly low of $1.297. Current pound US dollar exchange rate gains have been limited by the latest UK data, which revealed a sharp drop in new car sales last month.
  
  Read more

• FINANCIAL CRASH WARNING: World economy 'VULNERABLE to SECOND Great Depression'

  04-10-2018 13:16 via feedproxy.google.com
  THE world economy is at risk of another financial CRASH, the International Monetary Fund warned as the international organisation spoke of “large challenges” ahead “to prevent a second Great Depression”. In a new report, downcast predictions pointed to cheap interest rates and surging debt levels as potential triggers for economic chaos.
  
  Read more

• Car sales fall in UK with industry's worst September since financial crisis

  04-10-2018 12:57
  Consumer uncertainty, new testing rules and decline of diesel lead to 20% fall, says SMMTUK sales of new cars plunged by a fifth in September as new emissions tests caused delivery backlogs, while waning appetite for diesel cars and weaker consumer confidence weighed on demand.A total of 338,834 new cars were sold last month, according to figures from the Society of Motor Manufacturers and Traders (SMMT), down 20.5% compared with the same month last year. Continue reading...
  
  Read more

• Student loan crisis threatens American dream for a generation

  04-10-2018 12:00
  Forget the picket fence. Rising tuitions and official policy fueled a trillion-dollar debt crisis. Could congressional action help?With $60,000 in student debt, Cameron Vigil does not expect to marry or start a family anytime soon, or even to afford more basic living expenses.“It’s definitely been holding me off on buying a car or getting a house,” said Vigil, 21, a Denver resident working on her master’s degree at Regis University. She expects her debt to balloon to $100
  
  Read more

• 'Rupee is BROKEN' India rupee PLUMMETS to record low as soaring oil squeeze Indian economy

  04-10-2018 11:52 via feedproxy.google.com
  THE rupee plummeted to a record low against the US dollar earlier today, with the crisis-hit currency being described as “broken” by the President of the Indian National Congress. Soaring oil prices and market instability are currently squeezing the Indian currency, with concerns over capital outflows also putting the rupee under pressure.
  
  Read more

• Pound euro exchange rate: GBP up against EUR as markets remain wary of Italy

  04-10-2018 11:04 via feedproxy.google.com
  THE pound euro exchange rate is currently trading at around €1.12. This is only slightly up from the session’s opening levels, but holding at a two-week high following yesterday’s rally.
  
  Read more

• RBS boss says 'bad Brexit' could tip UK into recession

  04-10-2018 10:01
  CEO says bank already more cautious about lending, especially in retail and construction sectorsThe chief executive of the bailed-out Royal Bank of Scotland has warned a no-deal Brexit could tip the UK into a recession.Ross McEwan said a “bad Brexit” could result in negative growth in Britain and that RBS had become more cautious about lending to some sectors, including retail. Continue reading...
  
  Read more

• Pound LIVE: GBP Sterling RISES as Ireland BACKS May's plan for all-UK customs union

  04-10-2018 09:39 via feedproxy.google.com
  THE pound climbed against the euro and US dollar this morning on reports that Theresa May has received a Brexit boost from Ireland. The Prime Minister is reportedly being backed by Ireland over her plan for an all-UK customs union with the European Union.
  
  Read more

• My parking penalty was unfair – why won’t the council cancel it?

  04-10-2018 08:00
  I only mixed up an I and 1 in my number plate but it keeps sending demands to payI am Italian and last month rented a car and paid by phone to park in the London borough of Islington. Then I found a penalty charge notice on the windscreen. When I appealed, I was told I had not paid because I entered the letter I instead of the number 1 for the number plate. I asked the council to cancel the penalty since the letter and digit are indistinguishable. It said that, although it appreciated it was a s
  
  Read more

• Will Nissan stay once Britain leaves? How one factory explains the Brexit business dilemma

  04-10-2018 07:00
  In the 1980s, Thatcher’s government sold Britain as ‘a gateway to Europe’. Nissan came to Sunderland and thrived – but now its future is uncertain. By David ConnEarlier this year, when the British government’s assessments of the economic impact of Brexit were finally published, they revealed that the north-east of England was at risk of the deepest damage. Although the region still bears scars from the decline of heavy industry in the 1980s, today the north-east is
  
  Read more

• ‘It could get really bad’ - Bitcoin expert warns of IMMINENT DROP in cryptocurrency price

  04-10-2018 06:26 via feedproxy.google.com
  BITCOIN’s price dipped below $6,500 yesterday as it fell below a key price point, which could be a sign of an imminent slide in its value, a crypto expert has predicted.
  
  Read more

• CEOs should reveal how much more they earn than their average worker | Greg Jericho

  04-10-2018 04:17
  It takes the average CEO less than five days to earn the average full-time annual wageThe ALP is on a bit of a workplace-transparency tear. First they announced a policy for companies to reveal their gender pay ratios, and then in a speech on Tuesday, Andrew Leigh, the shadow assistant treasurer, announced a new policy for listed companies with more than 250 employees to reveal the ratio of the CEO’s pay to that of the median employee in the company. It is all part of a package of industri
  
  Read more

• UK blames 'reckless' cyber attacks on Russia's GRU spy agency - Financial Times

  04-10-2018 01:01
  Financial Times
  UK blames 'reckless' cyber attacks on Russia's GRU spy agency
  Financial Times
  The UK has stepped up pressure on Russia in the wake of the nerve agent attack in Salisbury by blaming the GRU, Moscow's military intelligence agency, for a series of “indiscriminate” and “reckless” cyber attacks over the past three years. In a ...
  
  Read more

• Apple, Google and Amazon named as most valuable brands in world

  04-10-2018 01:01
  Facebook slips in top 10 but US tech firms dominate Interbrand’s ranking againApple, Google and Amazon are the top three most valuable brands in the world, according to an annual report that underlines the dominance of the US tech companies.Interbrand, which assigns a dollar value to each brand based on factors such as financial performance and brand strength, ranked Apple first in 2018 with a brand value of $214bn. In August, Apple became the first public company with a trillion dollar va
  
  Read more

Follow @financialnwsUK on Twitter!