Financial news

• Spark Energy collapse leaves 290,000 without supplier

  23-11-2018 18:56
  Fears other challengers will fold amid tough competition and rising wholesale costsAn energy firm with nearly 300,0000 customers has become the biggest electricity and gas supplier to go bust in the UK, fuelling concerns that more challenger firms could fold.Spark Energy is the seventh supplier to fold this year amid pressure from rising wholesale costs and tough competition. The closure will mean the loss of more than 400 jobs at the firm’s headquarters in Selkirk in the Scottish Borders.
  
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• HSBC mobile banking fails on day MPs launch inquiry into outages

  23-11-2018 17:40
  Service disruption comes as select committee starts looking into IT failures at banksSome HSBC customers have been locked out of their mobile banking services, as MPs launched a formal inquiry into banking IT failures following a string of service disruptions this year.A spokeswoman for the bank said customers were intermittently prevented from signing on to the mobile app, but online banking via browsers had been operating as normal. Continue reading...
  
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• Let’s move to Gospel Oak, north London: Betjeman hated it, but there’s lots to love

  23-11-2018 17:30
  It’s shabbier than its illustrious neighbours, but that’s what makes it what it isWhat’s going for it? “Here from my eyrie, as the sun went down/I heard the old North London puff and shunt/Glad that I did not live in Gospel Oak.” What an incorrigible snob John Betjeman could be. He was born in Gospel Oak, but couldn’t wait to escape Lissenden Gardens and, as he saw it, haul himself up the social scale when his family moved home up Highgate Hill. Back then Gosp
  
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• Vauxhall plans restructure - workers warned of job losses at Ellesmere Port Factory

  23-11-2018 17:15 via feedproxy.google.com
  CAR giant Vauxhall is planning a restructuring at its main car plant with a "phased reduction" of 241 jobs.
  
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• Germany economy SHRINKS for first time since 2015 - CAR industry slump to blame

  23-11-2018 16:50 via feedproxy.google.com
  GERMANY’S economy has shrunk for the first time since 2015 after being dragged down by a slump in the car industry.
  
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• Oil prices: Brent crude TUMBLES as oil drops to LOWEST level in more than a YEAR

  23-11-2018 16:40 via feedproxy.google.com
  OIL prices tumbled to their lowest level in more than a year today as they remained on course for their biggest one-month decline since late 2014.
  
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• UK app seeks to cure pain of notorious Brexit residency form - Financial Times

  23-11-2018 16:15
  Financial Times
  UK app seeks to cure pain of notorious Brexit residency form
  Financial Times
  A new smartphone app to help European citizens apply to live and work in the UK is the first serious attempt to solve one of the big issues arising from Brexit through technology. The only snag for Julia Daer, a 23-year-old Italian studying at ...
  
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• Has the backlash to Black Friday already started?

  23-11-2018 16:00
  Brands, activists and charities are questioning the annual consumer feeding frenzyBlack Friday may be one of the biggest shopping days on the calendar, but it has also spawned a flurry of alternatives to the consumer frenzy from brands and charities.Greenpeace has teamed up with partners including Fashion Revolution and Shareable to back Make Smthing week, during which artists and crafters lead workshops on creative ways to reuse, repair or recycle goods. Continue reading...
  
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• Interserve shares fall as growing debt sparks fears over its finances

  23-11-2018 15:48
  Quarterly update reveals UK outsourcer will owe £50m more than expected by end of yearShares in Interserve fell 7% on Friday morning after the government contractor said debts this year would be higher than previously expected, reigniting investor jitters about the financial health of the firm.The company, which carries out building work and provides services such as cleaning, said debts would be between £625m and £650m by the end of the year, having earlier said debts would be
  
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• Virgin Atlantic in talks over possible takeover of Flybe

  23-11-2018 15:16
  Regional airline’s Manchester and Heathrow operations could prove profitable for VirginVirgin Atlantic has confirmed it is in talks over a possible takeover of the struggling regional airline Flybe, which put itself up for sale last week.The long-haul airline founded by Sir Richard Branson is thought to see potential in feeding more Flybe traffic into its Manchester and Heathrow operations. Continue reading...
  
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• Bitcoin price: BTC plunges to 14-MONTH LOW as cryptocurrency nosedives toward $4,000

  23-11-2018 15:08 via feedproxy.google.com
  BITCOIN plunged further in price today as the cryptocurrency nosedived toward $4,000 and a new 14-month low, marking one of the worst weekly slumps this year.
  
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• Value of Scotsman news titles collapses from £160m to £4m

  23-11-2018 15:00
  Edinburgh-based newspapers’ plummeting value revealed in Johnston Press creditors reportThe value of the Scotsman group of titles has collapsed from £160m to £4m, in a further sign of the pressures facing the traditional newspaper business model.The Edinburgh-based titles, encompassing the Scotsman, Scotland on Sunday and Edinburgh Evening News newspapers and the Scotsman.com website, are given an “IP – intellectual property – value” of £4.3m in a
  
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• 'Govtech' spurs smaller UK IT companies - Financial Times

  23-11-2018 14:42
  Financial Times
  'Govtech' spurs smaller UK IT companies
  Financial Times
  IT services is dominated by some of the goliaths of the tech industry. Software giant IBM, cloud providers Amazon, Microsoft and Google and consultants Deloitte and McKinsey have been among the quickest to develop the IT tools sought by older businesses.
  
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• Oil price plummets to low not seen since October 2017

  23-11-2018 14:19
  Brent crude hits $59.26 a barrel following price plunge of 30% amid concerns of oversupplyThe oil price has slumped to its lowest point this year, as concerns mount about a glut of crude supply and fears that economic headwinds could lessen demand.Brent crude fell as low as $59.26 a barrel on Friday, a level last seen in October 2017. Three supermarkets said on Friday they would cut petrol prices, as Asda cut its national price cap by 1p per litre for petrol and 2p per litre for diesel, with Mor
  
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• Pound euro exchange rate: GBP capitalises on eurozone weakness as German economy contracts

  23-11-2018 13:12 via feedproxy.google.com
  THE pound is pushing back against a weakened euro this morning and is currently trading at a rate of €1.129.
  
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• Trawling for trash: the brands turning plastic pollution into fashion

  23-11-2018 13:04
  Stella McCartney, Gucci and Adidas among companies inspired by ‘Blue Planet effect’Fishing nets and discarded plastic are finding their way into wardrobes around the world thanks to a rise in the number of fashion designers using materials made from recycled ocean waste.Brands including Gucci, Stella McCartney and Adidas are increasingly partnering with organisations such as Parley for the Oceans – which raises awareness of the destructive effect of ocean plastics – and s
  
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• Mechatronic Solutions: New ROBOPODS boost productivity on factory floors

  23-11-2018 13:00 via feedproxy.google.com
  Robopod, a British developer of adaptable robot cells designed to transform manufacturers’ productivity and banish obsolescence, has secured a UK first with a £1 million plus order to supply a co-ordinated suite of five.
  
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• UAE 'studying' pardon for UK academic accused of spying - Financial Times

  23-11-2018 12:02
  Financial Times
  UAE 'studying' pardon for UK academic accused of spying
  Financial Times
  The family of Matthew Hedges, the 31-year-old British academic sentenced to life for alleged spying in the United Arab Emirates, has made a request for clemency in an effort to secure his release. Mr Hedges' case has threatened to derail the strong ...en meer »
  
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• Pound US dollar exchange rate: GBP stalls as Spain threatens to ‘stop clock’ on Brexit

  23-11-2018 11:38 via feedproxy.google.com
  THE pound US dollar exchange rate is currently trading at $1.285, down roughly 0.3 per cent from this morning’s opening rate but still up half a cent from Thursday’s worst levels.
  
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• Black Friday 2018 WARNING: How YOU can avoid being SCAMMED this Cyber Weekend

  23-11-2018 11:05 via feedproxy.google.com
  BLACK FRIDAY shoppers have been warned to be alert for sophisticated online scams as thousands of shoppers are braced to splash millions of pounds over the Cyber Weekend.
  
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• Pound LIVE: GBP recovers against euro as Theresa May insists 'no better' Brexit deal

  23-11-2018 09:46 via feedproxy.google.com
  THE pound recovered gains against the euro this afternoon as Theresa May worked to gather the support of the public with a BBC phone-in.
  
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• Pound LIVE: GBP falls against euro as Spain threatens to VETO Brexit over Gibraltar

  23-11-2018 09:46 via feedproxy.google.com
  THE pound dropped against the euro this morning, losing ground gained yesterday from a surge on positive Brexit news.
  
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• Pound SOARS as Brexit progress made – Strategist says pricing indicates KEY Brexit outcome

  23-11-2018 08:11 via feedproxy.google.com
  POUND sterling sharply rose on Thursday after the announcement from Prime Minister Theresa May that there had been a breakthrough in talks with the European Union on its future partnership with Britain.
  
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• Junk food ad ban on London transport to take effect in February

  23-11-2018 08:00
  Tube, train and tram ban could cost TfL millions in lost revenue, says advertising industry Junk food adverts will be banned on London Underground, train, tram and bus services from February under plans announced by London’s mayor, Sadiq Khan.Advertising will be banned for most sugary drinks, hamburgers, chocolate bars and salted nuts across the entire Transport for London network, which also includes London Overground, tram services and bus stops. Continue reading...
  
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• Homes for sale on British islands – in pictures

  23-11-2018 08:00
  Chart a course for these properties from the Channel Islands to Scotland’s west coast Continue reading...
  
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• Admiral won’t accept there’s an ‘other me’

  23-11-2018 08:00
  An insurance policy was set up in my name but it refuses to accept it was fraudI was alarmed by a letter from Admiral insurance asking me to send them a new direct debit instruction. I’ve never had any policies with them. It became apparent that someone had fraudulently taken out car insurance using my name, address and date of birth, but with a different email address, phone number and bank account details.Continue reading...
  
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• We’re heading for a second referendum – and maybe a third | Vernon Bogdanor

  23-11-2018 07:00
  If MPs don’t back Theresa May’s deal in full, she’ll be forced to resign and Brexit will go to at least one people’s voteBritain’s convoluted negotiations over leaving Europe have left many in a state of confusion. But now things are becoming clearer. There is a deal with the EU, agreed by the cabinet despite howls from the Tory backbenches, while attempts to bring about a no-confidence vote in the prime minister appear to have fizzled out.But this still leaves many
  
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• Ukraine bank offers 21% interest rate for doing 10,000 steps a day

  23-11-2018 07:00
  Ukraine’s Monobank offers best rates to clients who do 10,000 steps a dayAs any saver knows, interest rates can go up as well as down. But they normally do so in conjunction with the economic cycle, and not with the physical activity of the account holder.Now, a Ukrainian bank is offering better rates of interest to customers who prove they are taking 10,000 steps every day, as part of efforts to make its clientele not just richer, but healthier at the same time. Continue reading...
  
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• I’ve discovered the Joy of Missing Out. Black Friday isn't for me | Stuart Jeffries

  23-11-2018 07:00
  We don’t need to jump on the festive treadmill and pretend we’re having a good timeThe comedian Bill Bailey once told me about his favourite Christmas. He and his family headed off to a sunny island where, on Christmas Day, they ate jam sandwiches and played on the beach. Bailey didn’t have a name for his rebellion against the 57 varieties of A Christmas Carol, the Christ-awful seasonal dishes, tinsel and the craving for something at 11am on 25 December to obliterate the pervad
  
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• Bitcoin will bring return to ‘GOLDEN ERA’ of capitalism - economist’s EXPLOSIVE prediction

  23-11-2018 04:55 via feedproxy.google.com
  BITCOIN could reinvent the current economic system to mirror the Gold Standard, which was a monetary model far preferable to what the world uses today, a prominent bitcoin economist has suggested.
  
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• Smart meters rollout labelled a 'fiasco' as consumers face extra £500m bill

  23-11-2018 01:01
  National Audit Office says that with 39m meters still to be replaced, government has no chance of hitting 2020 deadlineConsumers face paying half a billion pounds more than expected for the rollout of smart meters and the programme has no chance of hitting its deadline, the UK’s spending watchdog has warned.The National Audit Office said that with 39m old-fashioned meters yet to be replaced, there is “no realistic prospect” of meeting a goal of all homes and businesses being of
  
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