Financial news

• FTSE 100 bounces back - global shares see best day in MONTH after global markets bloodbath

  12-10-2018 23:17 via feedproxy.google.com
  GLOBAL Markets are having their best day in nearly a month just 24 hours after £26billion was wiped off the FTSE 100 alone from a Wall Street sell-off.
  
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• Wall Street rebounds, but suffers worst week since March - as it happened

  12-10-2018 22:11 via theguardian.com
  All the day’s economic and financial news, as shares claw back some of this week’s lossesLatest: Wall Street has rallied today......but it’s the worst week since MarchEurope rally fizzles outIntroduction: Time for a recovery?
  Thursday’s liveblog: FTSE 100 in correction9.09pm BST Phew! After some rocky days, the New York stock market has ended the day higher.The Dow Jones industrial average has closed 287 points higher at 25,339, a gain of 1.15%. “Generally what we w
  
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• Why tech’s gender problem is nothing new

  12-10-2018 21:33 via theguardian.com
  Decades after women were pushed out of programming, Amazon’s AI recruiting technology carried on the industry’s legacy of biasA recent report revealed Amazon’s AI recruiting technology developed a bias against women because it was trained predominantly on men’s résumés. Although Amazon shut the project down, this kind of mechanized sexism is common and growing – and the problem isn’t limited to AI mishaps.Facebook allows the targeting of job ads
  
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• Police investigate fraud allegations at 3aaa apprenticeships

  12-10-2018 20:05 via theguardian.com
  Taxpayer-funded provider collapses into administration, putting 4,500 apprenticeships at riskPolice are investigating allegations of fraud at the government-funded apprenticeship provider 3aaa, which has collapsed into administration, putting 500 jobs and 4,500 apprenticeships at risk.3aaa – which stands for aspire, achieve and advance – was placed into immediate administration after the Department for Education pulled all of its funding from the firm following an investigation. &ldq
  
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• FTSE 100 falls to six-month low as fears grow over US interest rates

  12-10-2018 20:04 via theguardian.com
  Index closes below 7,000 for the first time since March after challenging weekThe FTSE 100 has dropped below 7,000 for the first time in more than six months as stock markets around the world remained under pressure amid the fear of rising US interest rates.The index of UK blue-chip shares closed 11 points lower on Friday, taking it below the 7,000 milestone for the first time since March to finish the week at 6,995.91. After a closing peak of 7,877 in late May, the FTSE has now lost more than 1
  
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• Brexit blamed for price rise for Christmas turkeys

  12-10-2018 19:57 via theguardian.com
  Fall in pound and uncertainty has led to farmers paying more to attract or retain EU workersBrexit is about to make Christmas turkeys more expensive. Prices are to jump as a result of the fall in the value of the pound and higher wages farmers now have to pay to their east European pluckers.Paul Kelly, the chairman of the British Turkey Federation and boss of KellyBronze, a free range producer, said the industry was being forced to increase prices because of a 5% to 7% rise in costs. Continue re
  
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• Oxfam criticises World Bank for backing deregulated labour markets

  12-10-2018 19:28 via theguardian.com
  World Development Report dismisses concern about growing income inequality, say criticsAid charities and trade unions have denounced a World Bank report that advises some of the poorest countries in the world to accept the demands of multinational corporations to hire and fire workers and remove laws protecting workers’ rights.Oxfam said the report’s main message was that governments should abandon labour market regulation and rely instead on low levels of welfare to prevent workers
  
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• Patisserie Valerie chairman pumps in £20m to stave off collapse

  12-10-2018 19:22 via theguardian.com
  Rescue plan emerges after finance director Chris Marsh arrested on suspicion of fraudThe multi-millionaire chairman of Patisserie Valerie is pumping £20m of his own cash into the stricken cake and cafe chain to keep it in business after “fraudulent activity” was uncovered that left the business teetering on the brink.Details of the proposed emergency rescue plan came hours after it emerged that the finance director of Patisserie Holdings, which has over 200 cafes and nearly 3,0
  
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• Fiscal discipline points to calmer weather ahead for the UK - Financial Times

  12-10-2018 18:47
  Financial Times
  Fiscal discipline points to calmer weather ahead for the UK
  Financial Times
  Weather explains a lot. In the three months to August, UK gross domestic product rose by a better than expected 0.7 per cent, helped by July's heat and the football World Cup. Growth seems to have recovered from the very poor start to the year, when ...en meer »
  
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• Sports Direct to turn Glasgow Frasers into 'Harrods of the north'

  12-10-2018 18:46 via theguardian.com
  Company says 800 jobs safe and pledges investment in famous department storeSports Direct has vowed to create the “Harrods of the north” after clinching a £95m deal to buy Glasgow’s Frasers building in a move that saves 800 jobs.The sportswear chain controlled by Mike Ashley said it would continue to operate the 350,000 sq ft site as Frasers and invest in the property to “further elevate and enhance this iconic department store”. Continue reading...
  
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• Sky chief executive receives £37m after Comcast takeover

  12-10-2018 17:59 via theguardian.com
  Bumper pay day for Jeremy Darroch after bidding war with Murdoch’s Fox boosted shares Sky’s chief executive, Jeremy Darroch, has been handed a near-£40m bonanza following Comcast’s £30bn takeover of the satellite broadcaster.The windfall will see Darroch pay a monster tax bill estimated to be about £14m – which is more than the total UK tax paid by Amazon (£4.5m), Facebook (£7.4m) and Netflix (received a £174,000 rebate) combined last y
  
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• Let’s move to Abergavenny: home of food, glorious food

  12-10-2018 17:30 via theguardian.com
  Some will say it’s turning into a foodie destination, but there’s enough unpretension to burst any inflated egosWhat’s going for it? Just back from the Abergavenny Food Festival, where I fell in love with a tomato. As you do. It’s that kind of place. Food festivals are 10 a penny these days, but this one benefits from a distinct scarcity of anyone who once appeared on MasterChef. It’s more like an overgrown village fete, full of people plying their prize marrows or
  
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• UK consumers could lose EU legal rights in event of no-deal Brexit

  12-10-2018 17:23 via theguardian.com
  Protections on products and services bought from EU-based traders could go, warns noticeUK customers may be in legal limbo if they buy faulty products from EU countries in the event of a no-deal Brexit, the government has warned.The warning comes in the latest tranche of notices about potential issues arising if the government does not strike a deal with Brussels. Continue reading...
  
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• ‘Raid on the RESPONSIBLE’ Insurance Premium Tax costs households £200 a year - WHAT is it?

  12-10-2018 16:22 via feedproxy.google.com
  MANY hard-working Britons have never even heard of Insurance Premium Tax , despite it costing households an extra £200 each year on their insurance bills. IPT has been condemned as a “raid on the responsible” as calls grow for the Government not to further hike the stealth tax in the upcoming Autumn budget.
  
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• Dow Jones SURGES by 300 points after dropping nearly 1,400 points in TWO DAYS

  12-10-2018 15:44 via feedproxy.google.com
  THE Dow Jones surged more than 300 points today, recovering some of the 1,400 points lost over just two days. This marks around a 1.6 percent increase for the Dow Jones Industrial Average.
  
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• Scrapping UK grants for hybrid cars 'astounding', says industry

  12-10-2018 15:42 via theguardian.com
  Government ends incentives to buy new hybrids and cuts those for electric vehiclesIncentives for consumers to buy hybrid and electric cars rather than diesel or petrol alternatives have been slashed by the government, adding thousands of pounds to the price of a new low-emission vehicle.Car manufacturers said the decision was an “astounding” move. It comes only three months after the transport secretary, Chris Grayling, published a Road to Zero strategy to curb vehicle emissions by p
  
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• Fracking to restart in UK after last-minute legal bid fails

  12-10-2018 14:33 via theguardian.com
  High court rejects request to temporarily block Cuadrilla operation in Lancashire
  The first fracking in the UK for seven years will start on Saturday, the shale gas company Cuadrilla has confirmed, after campaigners lost a last-minute legal challenge to block the operations.Lancashire resident Robert Dennett won an interim injunction last Friday against Lancashire county council, putting a temporary halt to the start of fracking at a well outside Blackpool. Continue reading...
  
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• MAPPED: Best and worst UK cities for disposable income REVEALED – how does YOUR city fare?

  12-10-2018 14:31 via feedproxy.google.com
  RESIDENTS of Derby have been revealed to be the most well-off in the UK in terms of their disposable income, according to new research. Locals enjoy an average of £1,456 to spend per month after after tax, bills and general outgoings such as travel and food.
  
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• Pret a Manger: from high street darling to industry bogeyman

  12-10-2018 14:18 via theguardian.com
  Pret finds itself in unfamiliar position after allergen crisis engulfed the chain in recent weeksAt King’s Cross station in London, one of Europe’s busiest transport hubs, the workers at Pret a Manger never stop. Calls for lattes and flat whites ring out, sandwiches are placed in paper bags and bank cards are held to payment screens every few seconds, all day, every day.The crisis that has engulfed the company in recent weeks seems hardly to have made a dent in this busy outlet, but
  
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• Pound euro exchange rate: GBP static on reports of Brexit disunity

  12-10-2018 13:05 via feedproxy.google.com
  THE pound has held steady against the euro today, continuing to trade near its best exchange rate since late May at €1.141. This steady movement comes despite the news that some of Prime Minister Theresa May’s cabinet could object to her current stance in Brexit negotiations.
  
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• Italy parliament risking EU SHOWDOWN as it DEFIES backlash and BACKS deficit plan

  12-10-2018 12:35 via feedproxy.google.com
  THE Italian parliament has voted in favour of the government’s deficit plan, a move that risks infuriating European Union chiefs who have openly criticised the budget. Rome has been locked in a bitter war of words with Brussels after being forced to defend proposals to set out a deficit goal of 2.4 percent of GDP for 2019 - three times the previous administration's target.
  
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• $100 a barrel? Will Iran sanctions and Venezuela crisis bring oil price spike?

  12-10-2018 12:00 via theguardian.com
  As recently as two years ago the world had an oil glut but now market participants are speculating on a price not seen since 2014Unthinkable just a few years ago, oil could soon hit $100 a barrel.The reasons are manifold. Looming Iranian sanctions in November, supply problems in the US and less spare capacity from the Organization of Petroleum Exporting Countries (Opec) all have some crude-oil market participants betting that black gold prices may head to $100 – a price unseen since 2014.
  
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• How firms can prosper as customers fall in love with experiences 

  12-10-2018 11:49 via feedproxy.google.com
  Experiences are the big attraction now, persuading consumers to splash the cash, and winning out over a splurge on material possessions, latest findings from Barclaycard suggest. Half of consumers surveyed by the payments provider would rather spend money on having a good time and having the memories to enjoy afterwards. 
  
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• Patisserie Valerie suspended finance chief arrested overnight

  12-10-2018 10:34 via feedproxy.google.com
  PATISSERIE VALERIE has said its suspended finance chief Chris Marsh was arrested overnight before being released on bail. Patisserie Holdings revealed the news to the stock exchange in a market announcement on Friday.
  
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• Pound LIVE: GBP Sterling down against euro as European markets bounce back

  12-10-2018 09:46 via feedproxy.google.com
  THE pound was down slightly against the euro this morning as European markets bounced back after opening on lower levels yesterday. European stocks were awash with a sea of red on Thursday after Wall Street witnessed its sharpest one-day fall in months earlier in the week.
  
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• Houses for sale with literary links – in pictures

  12-10-2018 08:00 via theguardian.com
  Read up on these properties linked to writers, from Devon to Gloucestershire Continue reading...
  
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