Financial news

• Bank of England calls for clear heads to avoid no-deal mayhem | Nils Pratley

  09-10-2018 20:24 via theguardian.com
  EU will be big loser if agreement not reached for UK clearers to handle £69tn derivatives marketWhat the hell is the European commission playing at? Don’t they know they risk seeing financial markets fall off the edge of a cliff?The sober suits on the Bank of England’s financial policy committee did not put it like that, but one could catch their drift. When the Bank describes a “pressing” need for EU authorities to take “mitigating actions”, it means th
  
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• Shell boss says mass reforestation needed to limit temperature rises to 1.5C

  09-10-2018 19:35 via theguardian.com
  Ben van Beurden says ‘another Brazil in terms of rainforest’ will help achieve UN targetThe boss of Shell has said a huge tree-planting project the size of the Amazon rainforest would be needed to meet a tougher global warming target, as he argued more renewable energy alone would not be enough.Ben van Beurden said it would be a major challenge to limit temperature rises to 1.5C (equivalent to a rise of 2.7F), which a landmark report from the UN’s climate science panel has said
  
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• Credit union in wealthy London borough collapses

  09-10-2018 19:11 via theguardian.com
  Kensington and Chelsea firm had sought investments from wealthy residentsA credit union in Britain’s richest borough has gone bust after being hit by bad debts, making it the ninth to cease trading this year.K&C Credit Union, which traded as Your Credit Union, was based in the Royal Borough of Kensington and Chelsea in London and its membership included several residents of Grenfell Tower. Continue reading...
  
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• State pension age rise: thousands of women expected to join march

  09-10-2018 08:00 via theguardian.com
  Parliament protest comes as anger rises among the 3.9m UK women affected by the changesThousands of the 3.9 million women who have been forced to wait up to an extra six years to get their pensions are expected to take part in a protest outside parliament.Women in their 50s and 60s have been hit by the government’s decision to increase the female state pension age from 60 to 66, with some left destitute. Many say that a lack of sufficient information about the rise meant they did not find
  
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• I rented a ‘smart’ thermostat – now the maker is forcing me to buy it

  09-10-2018 08:00 via theguardian.com
  Tado insists it isn’t possible to transfer the contract to the new owners of my houseIn 2014 I agreed to rent a “smart” thermostat – to remotely control the central heating – from a German firm called Tado. I was encouraged to rent in order “to try the service before buying”. Two years later, I sold the house, but when I tried to transfer the contract to the new homeowners, Tado insisted this was not possible, and that the only option was to either retur
  
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• The rich say they fear Labour. It’s Brexit they should be worried about | Polly Toynbee

  09-10-2018 07:00 via theguardian.com
  We’re told a Corbyn government would cause the wealthy to flee Britain. We’ve heard these threats before: they’re hollowIs this an augury that Labour is on its way to power? The mega-rich are taking fright and threatening flight. They see the red peril rolling towards their mansion doorsteps as Jeremy Corbyn ushers in an era of Venezuela-on-Thames. Get out now, before the reds take everything! Related: Sorry, Theresa May, Labour’s offer to young people is irresistible | E
  
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