Financial news

• Bitcoin news: How bitcoin mining makes global warming WORSE - temperatures to rise by 2C

  30-10-2018 20:48 via feedproxy.google.com
  BITCOIN could push global temperatures up by 2C as soon as 2033, according to new analysis.
  
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• Steve Bell on talk of a 'Norway for now' post-Brexit deal – cartoon

  30-10-2018 19:47 via theguardian.com
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• Employers must check EU nationals' right to work, says minister

  30-10-2018 19:39 via theguardian.com
  Caroline Nokes tells MPs firms will have to check eligibility after a no-deal Brexit – but does not know how
  Employers will be expected to check whether EU nationals have the right to work in the UK if there is a no-deal Brexit, even though it will be almost impossible to assess this, and the nature of the checks remain unknown, Caroline Nokes, the immigration minister, has told MPs.Her disclosure caused dismay among employers’ groups, which have said they have “serious concern
  
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• Philip Hammond's budget may just be too good to be true

  30-10-2018 19:37 via theguardian.com
  IFS among those warning the chancellor he could come to regret his ‘gamble’Napoleon once said it was better for generals to be lucky than good, and by that score, Theresa May picked well when she chose Philip Hammond as her chancellor.As the Institute for Fiscal Studies made clear in its post-budget analysis, Hammond just got very lucky indeed. In the run-up to the budget, Britain’s leading tax and spending experts said the chancellor had been put in a real bind by the prime mi
  
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• Fears for hundreds of jobs as Sports Direct buys up Evans Cycles

  30-10-2018 17:41 via theguardian.com
  Half of cycle shop’s 62 UK stores half could close after sports retailer buys firm out of administrationMike Ashley’s Sports Direct has bought Evans Cycles out of administration but has warned that it may have to close half the specialist retailer’s 62 stores, putting about 440 jobs at risk.Evans, which traces its roots back nearly 100 years, had been seeking a buyer after its management team said they needed £20m for a turnaround plan that its former private equity owner
  
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• Eurozone in crisis: Economist WARNING after sluggish GDP growth figures

  30-10-2018 17:37 via feedproxy.google.com
  WITH BREXIT less than 200 days away, there are signs of a growing crisis within the Eurozone, with one analyst predicting the sluggish state of the continent's economy means growth will fall short of the European Central Bank's two percent projection for 2018.
  
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• Income tax cut for millions but little to tackle housing problem

  30-10-2018 16:55 via feedproxy.google.com
  IN THE RUN up to yesterday's Budget there was plenty of speculation about how Chancellor Philip Hammond was going to hammer our personal finances, nearly all of it wrong.
  
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• Budget 2018 minimum wage: How much will National Living wage rise by in April 2019?

  30-10-2018 15:43 via feedproxy.google.com
  BUDGET 2018 proceedings concluded yesterday evening as Philip Hammond delivered new spending targets and fiscal arrangements before Brexit. Among these is a national living wage boost, but how much will it rise?
  
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• Uber challenges ruling on drivers' rights at court of appeal

  30-10-2018 15:27 via theguardian.com
  Protest held outside court in London as firm appeals against employment tribunal rulingUber has launched a court challenge against a landmark legal ruling that set a precedent for millions of gig economy workers.The attempt to overturn the employment tribunal ruling that the company’s drivers were workers came as a former driver involved in the case claimed that if the taxi-hailing app were to win its appeal, Uber’s business model could expand into every sector of the economy. Contin
  
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• This budget shows Conservatives have run out of ideas on housing | John Healey

  30-10-2018 15:25 via theguardian.com
  Housing barely figured in Philip Hammond’s speech, despite rising homelessness and a deepening UK housing crisisTheresa May has repeatedly declared her “personal mission” to fix the housing crisis. It’s a mark of the Conservatives’ loss of confidence on housing that it barely figured in Philip Hammond’s budget speech.Related: Theresa May's warm words won't keep people off the streets this winter | Jane DudmanContinue reading...
  
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• Hammond's budget is gambling with public finances, says IFS

  30-10-2018 14:27 via theguardian.com
  Extra NHS funding ignores risk of UK accounts deteriorating badly after Brexit, thinktank says
  Philip Hammond has been warned that he is gambling with the future health of the UK’s public finances after handing out tax cuts to the rich while finding extra money for the NHS by increasing national borrowing.In a stinging verdict on the chancellor’s budget, which Hammond had used to claim that austerity was ending and is set to be the last before Brexit, the Institute for Fiscal Studies
  
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• Retail sales growth cools after summer spending spree

  30-10-2018 13:45 via theguardian.com
  CBI gauge falls further than expected with wage growth sluggish and inflation highUK retail sales growth slowed significantly in October as British consumers reined in their spending after a summer spree fuelled by warm weather and the World Cup, according to the latest industry figures.The latest snapshot from the Confederation of British Industry showed retail sales growth dropped to the weakest level since April, while separate government figures showed an increasing number of UK companies en
  
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• McDonnell criticised for backing income tax cut for high earners

  30-10-2018 13:39 via theguardian.com
  Shadow chancellor says Labour would not reverse plan to raise higher-rate tax thresholdThe shadow chancellor, John McDonnell, is facing a backlash after suggesting Labour would press ahead with tax cuts for high earners announced by the chancellor in Monday’s budget. Related: Labour would support budget income tax cuts, says McDonnell - Politics liveContinue reading...
  
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• Amazon UK launches 'try before you buy' fashion service

  30-10-2018 13:36 via theguardian.com
  Prime Wardrobe delivers three to eight clothing items with no upfront chargeAmazon is launching its “try before you buy” fashion service in the UK, marking the online retailer’s latest push into the clothing market.Prime Wardrobe delivers a bag of three to eight clothing items with no upfront charge and free delivery for people signed up to Amazon’s subscription service. Continue reading...
  
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• Can I buy a share in my parents' home – and a flat to rent out?

  30-10-2018 12:51 via theguardian.com
  I will have about £35,000 from the sale of a property and want to make the best of itQ After a recent separation, my two young children and I have moved back in with my parents whilst I have been selling the property I jointly owned with my ex-partner. We have been living in my parents’ home for about a year and it has been working really well. They are able to help with childcare and they enjoy having me and the children around. The house is large enough for us all and still offers
  
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• Why we should be paying more for parking – video explainer

  30-10-2018 12:24 via theguardian.com
  Charging more for parking could save the environment, ease congestion and inject energy back into the high street. But how? The Guardian's Peter Walker explains that we've been thinking about parking all wrong: it's not a right, but rather an over-subsidised waste of space
  Sources: The High Cost of Free Parking (2011) - Donald Shoup; Psychology of the Car (2017) - Stefan Gössling; Research into the Use and Effectiveness of Maximum Parking Standards - Department of Transport
   
  
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• Uber charged me a £60 fee – but I didn’t vomit in the cab

  30-10-2018 12:10 via theguardian.com
  It feels criminal that it can take my money without proving I was responsibleIn August, I was charged £60 by Uber for an alleged cleaning fee that had nothing to do with me. The allegation is false and I am appalled that money can be taken from a third-party account in this way. Surely this cannot be legal? It feels nothing short of criminal. I was sent photos to apparently justify the contested bill. First, I did not cause whatever mess I am being accused of. Second, no one has informed m
  
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• Pound euro exchange rate: GBP on the back foot despite shock slowdown in Eurozone GDP

  30-10-2018 12:01 via feedproxy.google.com
  At the time of writing the GBP/EUR exchange rate is trading around €1.123, having edged down from this morning’s opening levels despite some very underwhelming Eurozone growth figures. While the euro is holding steady against the pound so far this morning, the single currency is slumping in broader trade as markets react to the Eurozone’s latest GDP release.
  
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• Pound US dollar exchange rate: GBP dips on post-Budget analysis

  30-10-2018 11:47 via feedproxy.google.com
  The pound has dropped off against the US dollar today to trade at a rate of $1.277 following the Autumn Budget. This latest fall puts the GBP/USD exchange rate down at its lowest level since late August and follows a mixed reception to the last pre-Brexit Budget.
  
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• Budget 2018: Will Philip Hammond's new Digital Services tax affect Facebook?

  30-10-2018 10:06 via feedproxy.google.com
  BUDGET 2018 brought around a slew of new announcements for the UK economy and will see some big changes to taxation. Will Philip Hammond’s new Digital Services tax affect Facebook?
  
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• Budget income tax cuts 'to overwhelmingly benefit the rich'

  30-10-2018 09:26 via theguardian.com
  Top half of households to benefit from 84% of the cuts, says Resolution FoundationIncome tax cuts for millions of workers announced in Philip Hammond’s budget will “overwhelmingly benefit richer households”, analysis has found, with almost half set to go to the top 10% of households.The analysis by the Resolution Foundation (pdf) thinktank found that welfare cuts would continue to affect the poorest households, despite Hammond’s announcement that austerity was coming to a
  
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• What does the 2018 budget mean for you?

  30-10-2018 08:46 via theguardian.com
  We’ve looked at the figures to see how Philip Hammond’s budget will affect your finances – whether you’re single, married, with or without children or retired•Read all our budget coverage in fullAll figures supplied by Turquoise Training & Consultancy (some have been rounded to nearest pound). Continue reading...
  
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• 'We are like robots': Apple investigates Chinese factory using forced student labour

  30-10-2018 07:16 via theguardian.com
  Supplier under fire after vocational degrees were withheld unless students undertook factory workApple is investigating a factory in southwest China after a labour rights group said the tech giant’s supplier forced student workers to work “like robots” to assemble its popular Apple Watch.Many were compelled to work in order to get their vocational degrees and had to do night shifts, according to an investigation by Hong Kong-based NGO Students and Scholars Against Corporate Mis
  
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• Reserve Bank warns of looming global threats to Australian economy

  30-10-2018 07:13 via theguardian.com
  Assistant governor nominates household debt levels and bank exposure to shifts in risk sentimentThe fallout from the banking royal commission may hurt bank profits, and rising trade tensions could spark a sharp global downturn that puts Australia’s highly indebted households at risk, the Reserve Bank has warned.Michele Bullock, an RBA assistant governor, has told an audience at the Commonwealth Bank global markets conference in Sydney that the banking royal commission had only had a small
  
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• How to write off student debt: my plan for Labour | Danny Dorling

  30-10-2018 07:00 via theguardian.com
  The party has promised to end tuition fees – but needs to think about young people who have already racked up £30,000 of debtIn summer 2012, English tuition fees suddenly tripled to become the highest in the world. Young people choosing to go to university had no choice: for the vast majority it was huge debt or no degree.These fees turn education into a cheap and nasty marketplace where universities that lie about their product can succeed. The supposed benefits of markets do not ap
  
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• China’s currency CRUMBLES as the threat of additional US tariffs looms in the near future

  30-10-2018 04:50 via feedproxy.google.com
  CHINA saw its currency reach its lowest point in a decade on Tuesday while the threat of new tariffs from the US in the near future remains.
  
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• From single parents to landlords: how will the budget affect people?

  30-10-2018 01:05 via theguardian.com
  We talk to people with a wide range of incomes about how their finances will change For Lidia Peto, who had to temporarily give up work to care for her daughter’s special needs, the roll out of universal credit is what has given her most financial anxiety. Continue reading...
  
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