Financial news

• Dow Jones: US stocks PLUNGE as Dow suffers biggest U-turn in MONTHS amid midterm fears

  29-10-2018 23:56 via feedproxy.google.com
  US STOCKS plummeted today amid investor fears of an escalation in the trade war between the United States and China and uncertainty caused by the upcoming midterm elections.
  
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• 'Anti-growth' Merkel is HINDERING European markets - and her departure 'will BOOST stocks'

  29-10-2018 22:31 via feedproxy.google.com
  ANGELA Merkel’s leadership of an “anti-growth coalition” had been holding back European markets but news of her departure fuelled a major boost for stocks, a finance expert has claimed.
  
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• From potholes to Brexit: an at-a-glance guide to the budget

  29-10-2018 22:17 via theguardian.com
  Philip Hammond set out his tax and spending plans – with more for road repairs than pupilsAn extra £420m was made available immediately for local authorities to tackle potholes and other minor road works. The AA had asked for a £1bn pothole fund to fill in the craters that are costing motorists dear. Continue reading...
  
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• 'Why do those at the top get a tax cut?': Mansfield reacts to the budget

  29-10-2018 21:02 via theguardian.com
  Nottinghamshire town’s residents give their opinions of Philip Hammond’s measuresAfter 94 years as a Labour stronghold, the Nottinghamshire market town of Mansfield elected its first ever Conservative MP in last year’s general election. It was one of six constituencies to buck the national trend and swing to the Tories from Labour, ousting its longstanding MP, Alan Meale, who had been in situ since 1987.The town – population 109,000 – was dominated by textiles and c
  
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• Car industry shares rally after reports of China vehicle tax cut

  29-10-2018 21:01 via theguardian.com
  Financial stocks also boosted by HSBC results as FTSE 100 enjoys best day for weeksShares in carmakers were boosted on Monday by a report that China is considering cutting vehicle sales tax to boost demand, helping European stock markets rebound after last week’s mauling.Financial stocks also contributed to the rally, thanks to strong results from Europe’s biggest bank, HSBC, as well as the decision by Standard & Poor’s not to downgrade the Italian government’s credit
  
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• UK finally takes on arrogant tech giants with digital services tax | Nils Pratley

  29-10-2018 20:51 via theguardian.com
  Budget levy on giants such as Facebook, Google and Amazon could go further – but it’s a startThe technology titans will not be trembling in fear. The sum of £400m that Philip Hammond says will be raised annually via his new digital services tax is a relative trifle. Even if the tax is concentrated among a small group of global companies, which seems to be the chancellor’s plan, the likes of Amazon, eBay, Facebook and Google can afford to pay. One suspects their enthusiasm
  
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• Hammond's budget spending highlights May's weakness | Larry Elliott

  29-10-2018 20:22 via theguardian.com
  Short-term spending aims to placate a public the PM thinks is sick of austerityWatching Philip Hammond deliver his third budget, it was hard to avoid thinking that an election must be in the offing. Chancellors normally show their mean streak when parliaments are young and squirrel away any available cash so that they can give money away as polling day approaches.Not this time, though. The chancellor was in the position of knowing that public borrowing this year is on course to be £12bn lo
  
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• Philip Hammond’s pre-Brexit budget – what’s the verdict? | Gaby Hinsliff and others

  29-10-2018 19:10 via theguardian.com
  Our writers react to the chancellor’s final budget before the UK leaves the EU Continue reading...
  
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• Flights could be disrupted after Brexit, Chris Grayling admits

  29-10-2018 16:11 via theguardian.com
  Transport secretary says EU would be to blame for any turmoil for not starting talksFlights could be disrupted after Brexit, the transport secretary has admitted, but he said the European commission would be to blame for not starting talks on a deal to keep planes in the air.Chris Grayling told an aviation conference that disruption was “unlikely” but that talks to secure an aviation agreement had not yet started with only five months to the date of Britain’s departure. He adde
  
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• Take-up of car finance deals slows as appetite for diesel wanes

  29-10-2018 15:51 via theguardian.com
  British consumers rein in borrowing money for cars amid falling vehicle salesBritish consumers have reined in their borrowing on car finance deals amid falling vehicle sales triggered by new emissions tests.Figures from the Bank of England showed annual growth in consumer credit – on personal loans, credit cards and car finance deals – dropped to 7.7% in September to the lowest level since June 2015. Continue reading...
  
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• Warpaint London says pre-Christmas slump has dented profits

  29-10-2018 15:29 via theguardian.com
  Owner of W7 makeup brand now expects annual profits to be between £8.5m and £10mThe owner of the W7 makeup brand has blamed a slump in Christmas orders from British retailers for a profit warning that has wiped more than 40% off the value of the company.Warpaint London, which listed on the junior stock market two years ago, supplies high street chains including Primark, Boots and Superdrug with its low-priced lipstick, eyeshadow and nail polish, as well as cosmetics gift sets. Contin
  
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