Financial news

• Most buy-to-let lenders refuse loans when tenants are on benefits

  21-10-2018 20:06 via theguardian.com
  Landlords association tells government to persuade banks to end practice by lenders representing 90% of marketUrgent action is needed to tackle discrimination against benefit claimants by mortgage providers, according to the Residential Landlords Association (RLA), which has found lenders representing 90% of the buy-to-let market refuse a loan where a tenant is on housing benefit.On Saturday, the Guardian revealed how NatWest told one landlord that she would either have to evict her tenant of tw
  
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• Italian bank fears expected to grow after debt downgrade

  21-10-2018 19:33
  Pressure on reserves could trigger crisis as government official issues warningFears that Italy’s banks face a black hole in their finances are expected to grow this week following a debt downgrade that could send the value of bank reserves plummeting.Despite efforts to shore up Italian banks’ reserves, a downgrade by the ratings agency Moody’s on Friday following a row between Rome and Brussels over the government’s budget could send them into freefall again. Continue re
  
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• ITV chief: now is last chance to build British challenger to Netflix

  21-10-2018 18:29
  With subscription service in place, we’ll keep Love Island in-house, says Carolyn McCallThe chief executive of ITV has said now is the last chance for UK broadcasters to build a British Netflix, as the US streaming giant continues to grow at breakneck speed.The warning from Carolyn McCall, chief executive of the UK’s largest free-to-air commercial broadcaster, follows protracted talks between the BBC, Channel 4 and ITV to create a credible domestic streaming rival to Netflix that hav
  
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• Ryanair accused of inaction over racist incident on plane

  21-10-2018 16:19
  Airline apparently did not remove passenger who abused woman on flightRyanair has referred a racist incident on one of its flights to Essex police, after facing criticism that it did little to prevent a male passenger inflicting a tirade of racist abuse on a 77-year-old woman.The airline apparently did not remove the passenger from the flight from Barcelona, instead moving the woman from her seat. Continue reading...
  
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• Saudi Arabia has the most to lose from a sharp rise in oil prices | Larry Elliott

  21-10-2018 13:10
  With Riyadh dependent on arms supplies from the west, its threat to weaponise oil no longer works The Opec oil cartel chose its moment well. Inflationary pressures had been building in the global economy for years and stocks of crude were low. With Israel on top in the Yom Kippur war, Arab oil producers decided to step in. They announced production cuts and an oil embargo on the US and other western countries.The decision had far-reaching consequences. Oil prices more than quadrupled in a matter
  
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• India rupee: US economy 'could slow SHARPLY next year – causing rupee PLUMMET' - economist

  21-10-2018 10:01 via feedproxy.google.com
  THE India rupee could be set for a further fall against the dollar if the US economy slows sharply and sparks a plummet in stock markets, according to a market economist. It has been a turbulent year for the Indian currency, which has been squeezed by soaring interest rates in the US and sky-high oil prices.
  
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• Brexit is like a Premier League side wanting to be relegated | William Keegan

  21-10-2018 10:00
  The man who used to run the WTO says the EU single market, set up by Margaret Thatcher, is ‘the top league’. How right he isThis country is obsessed by football. Many of the people who voted to “leave Europe” follow closely the ups and downs of the teams in the Premier League, teams whose stars and managers are often from, well, “Europe”.It is unimaginable that any football fan would want his or her team to descend from the Premier League to the lowest, just l
  
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• Firms are partying like it’s 2007. Time the Bank played pooper

  21-10-2018 09:00
  The trillions in cheap money that central banks created after the crash have just gone to service old debt or push up property prices. And we know where that could lead …You wish fervently for something then, when it happens, it’s not what you hoped for at all. That is how central bankers must be feeling as they watch corporate debt soar to record highs.They wanted companies to borrow and grow, but not like this. Last week, this concern was visible in the minutes of Bank of England&
  
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• Brexit could kill off entire industries, says Jaguar Land Rover chief

  21-10-2018 01:05
  Ralf Speth calls for political action as CBI survey finds four out of five businesses have cut investment ahead of EU exitKey industries will be destroyed by a hard Brexit, one of the country’s most powerful chief executives has predicted, amid warnings that Britain’s imminent EU exit has dented investment by four in five businesses.Ralf Speth, the boss of Jaguar Land Rover, said that such an outcome would lead to the closure of plants and major job losses as he warned that some expo
  
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