Financial news

• Patisserie Valerie's surprise lack of dough means auditors have some explaining to do

  11-10-2018 20:29 via theguardian.com
  On Monday, the business was worth £450m. Now it can only hope for a financial miracleThat vegan show-stopper cake on this week’s Great British Bake Off collapsed more slowly than Patisserie Valerie.On Monday, the business was a mini-stock market darling worth £450m. Its shareholders could supposedly sleep soundly because the cash balance at the end of March this year was £28.8m. The gross profit margin was reliably about 78% and, as bullish chief executive Paul May put it
  
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• UK and Brussels close to agreeing Brexit deal - Financial Times

  11-10-2018 20:15
  Financial Times
  UK and Brussels close to agreeing Brexit deal
  Financial Times
  Theresa May briefed her inner cabinet on Thursday evening that a historic Brexit deal is close, as Downing Street faced a backlash from Tory Eurosceptics who fear it could leave Britain locked in a customs union with the EU for ever. The British prime ...
  UK PM Theresa May says Brexit deal is close - Financial Times reportseuronewsalle 1.915 nieuwsartikelen »
  
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• Patisserie Valerie crisis rocks Luke Johnson's business career

  11-10-2018 18:48 via theguardian.com
  Entrepreneur’s business dealings include turning Pizza Express into national chainLuke Johnson made his name – not to mention his multi-million pound fortune – by investing in some of the high street’s most ubiquitous brands.The success story that launched his career as a serial entrepreneur was Pizza Express, the first of a string of investments – mostly in the restaurant industry – that amassed him a £260m fortune, according to the latest Sunday Times
  
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• Women’s pensions need a fairer transition for those born in the 1950s | Letters

  11-10-2018 18:46 via theguardian.com
  Pam Alexander on unfair changes to the state pension age. Plus, Helena Newton and Henrietta Cubitt with suggestions for what an 80-year-old can do with the extra 25p a week they receive in their pensionYour editorial (Pensions: This generation of women deserves better, 11 October) highlights the continuing unfairness of the 2011 changes in the state pension age for women born in the 1950s.One of the worst aspects for some is the cliff over which those of us born in 1954 fall. A cause of real har
  
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• Women's retirement age rising faster than men's in UK

  11-10-2018 15:22 via theguardian.com
  Women working until 64 on average, reversing 80s and 90s trend of earlier retirement Women are on average working until the age of 64, in a dramatic reversal of the trend towards early retirement that marked the 1980s and 1990s.Figures from the Department for Work and Pensions show that both men and women are remaining at work for much longer than before, but for women the change has been more rapid. Continue reading...
  
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• Profits slide at big six energy firms as 1.4m customers switch

  11-10-2018 14:30 via theguardian.com
  Margins for 2017 drop by 10% in face of competition from smaller challenger companiesBritain’s biggest energy firms saw their profits dive by 10% last year as more than 1 million customers left them for smaller challenger companies.Profits at the so-called big six firms fell from £1bn to £900m in the face of increasingly tough competition, and their market share dropped to a record low of three-quarters. Continue reading...
  
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• Why did Nissan dealership not tell us our car had been stolen?

  11-10-2018 08:00 via theguardian.com
  It went in for repairs, but was supposedly taken from a locked compoundWe owned a Nissan X-Trail, which broke down in May. Our local garage diagnosed a turbo failure and advised us to take it to a Nissan dealership as, although it was just out of warranty, it was still under four years old. It was transferred to West Way Nissan in Birmingham on 23 May. It diagnosed the same problem and agreed to ask Nissan UK to contribute to the repair. After a week, we were told that it was still waiting for a
  
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• Brexit uncertainty taking toll on property market, experts say

  11-10-2018 01:01 via theguardian.com
  Falling prices, lack of buyers and record times to complete sales revealed by RICS researchBrexit uncertainty has crushed confidence in the property market, according to the official surveyors’ body, with buyers evaporating, prices falling and sales taking a record amount of time to complete.The Royal Institution of Chartered Surveyors (RICS) said the time taken to complete a property sale has widened to 19 weeks, the longest duration since it began collecting data. Continue reading...
  
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