Financial news

• Danske Bank scandal spurs UK crackdown on limited partnerships - Financial Times

  27-11-2018 22:30
  Financial Times
  Danske Bank scandal spurs UK crackdown on limited partnerships
  Financial Times
  The British government is to tighten century-old rules around corporate structures blamed for facilitating “money-laundering on an industrial scale” and for playing a key role in the world's biggest dirty-money scandal. Despite opposition from the City ...
  
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• Missing the point in graduate pay report | Letter

  27-11-2018 18:04
  The IFS study also showed that men with degrees earned less than those without one, says Paul HewitsonThe article by Richard Adams on the Institute for Fiscal Studies report relating to graduate pay was headlined “Degrees raise women’s pay – to level of non-graduate male peers” (27 November). What the IFS report also said was that men with degrees earn less than men in the same age group without degrees, and that having a degree boosts male incomes by only 6% whereas it r
  
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• No-deal Brexit: Amazon blamed for lack of food warehouse space

  27-11-2018 17:50
  MPs told shortage of chilled storage for stockpiling goods is due to US tech giant’s plan to enter food marketBritain is running out of food warehousing facilities needed by retailers and manufacturers to stockpile goods ahead of a possible no-deal Brexit and the shortage may be the result of Amazon booking the space, MPs were told on Tuesday.Ian Wright, director general of the Food and Drink Federation, told the business, Energy and industrial strategy committee (BEIS) that a shortage of
  
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• UK Regulator to Punish Financial Services Firms for Failures with Cyber Defenses - Insurance Journal

  27-11-2018 17:35
  Channel NewsAsia
  UK Regulator to Punish Financial Services Firms for Failures with Cyber Defenses
  Insurance Journal
  Britain's Financial Conduct Authority will punish firms that are failing to get the basics right on cyber defenses, or whose botched IT projects harm consumers, a senior official at the markets watchdog said on Tuesday. Outages at banks such as TSB ...
  Financial firms not getting basics right on cyber: UK watchdogChannel NewsAsia
  UK Financial Firms Plagued By Tech OutagesPYMNTS.co
  
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• Apple shares slide as Trump threatens tariffs on iPhones - business live

  27-11-2018 16:03
  Rolling coverage of the latest economic and financial news, as US president fires new warning shots at BeijingLatest: Apple shares fall as tariff threat growsIntroduction: Trump could impose tariffs on another $267bn of Chinese goods
  Tech product such as iPhones could be hitTrump: Could raise existing tariffs from 10% to 25%
  Trump to meet Xi at G20 3.03pm GMT The trade war jitters could see Apple lose the crown of being America’s most valuable company.Its market capitalisation has dropped
  
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• Which scientist should be on the £50 note: Hawking, Fleming, Turing … or Thatcher?

  27-11-2018 15:38
  The former prime minister is on the shortlist thanks to her lasting contribution to soft-serve ice-cream, but don’t bet on her winningName: The £50 note.Age: First introduced in 1725. Continue reading...
  
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• Trade wars and Brexit are making us all poorer | Jeffrey Frankel

  27-11-2018 13:54
  Current policies are hitting real incomes – and only voters, not central banks, can change thatThe world is in a trade war and there is no sign of peace breaking out anytime soon. By now, the disruption to trade appears extensive enough to factor negatively into forecasts for economic growth. Does that mean the Federal Reserve should stop gradually raising interest rates?The answer is no. Monetary policy cannot mitigate the damage done by foolish trade policies. Continue reading...
  
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• John Lewis reports record sales in Black Friday week

  27-11-2018 13:45
  Apple Airpods and Amazon Echo Dot among the top sellers – but Waitrose reports sales dipJohn Lewis booked the biggest sales week in its history last week as shoppers’ appetite for Black Friday deals on gadgets, beauty products, clothing and beds fuelled demand.The department store chain said sales were up 7.7% in the week to 27 November on the same period last year, with sales in the fashion and beauty department up 13.1%. Continue reading...
  
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• Viagogo to be forced to tell ticket buyers identity of touts

  27-11-2018 12:34
  Resale site agrees to change its controversial practices after regulator wins legal caseThe competition regulator has scored a landmark legal victory over Viagogo, securing a court order that will force the tickets website to give consumers more information about what they are buying, including the identity of touts advertising tickets.The Competition and Markets Authority initially applied for an interim enforcement order in the high court that compels Viagogo to change its business practices u
  
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• I’m not getting the promotion and pay I deserve. Should I threaten to quit?

  27-11-2018 12:30 via theguardian.com
  Have you got a work-related problem? In this series we invite you to send in a short description of your predicament – so that other readers can offer solutionsI am a woman nearing 40 who recently left academia for a job on an entry level paygrade in an industry where my talents seem to be going to good use and I am doing some good for the world. My heart is really in it, but my pay continues to stagnate and I am less senior than I should be. They are getting a big bang for their buck and
  
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• Greggs profits on the rise as it bucks high street slowdown

  27-11-2018 11:28
  Bakery chain has opened more outlets in stations and airports, as well as updated menuShares in Greggs jumped 12% on Tuesday after investors were cheered by the news that profits in 2018 would be stronger than previously expected thanks to bumper sales in October and November.The bakery chain was the top FTSE 250 riser after reporting a 9% increase in sales in the eight weeks to 24 November. As well as offering its traditional favourites such as sausage rolls and pasties, Greggs customers can no
  
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• UK and Netherlands fine Uber over vast data breach - Financial Times

  27-11-2018 11:10
  Financial Times
  UK and Netherlands fine Uber over vast data breach
  Financial Times
  British and Dutch data protection regulators have fined Uber over a vast data breach that compromised information about customers and drivers after US states earlier this year levied a record fine. Britain's Information Commissioner's Office said on ...en meer »
  
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• Fears of 'short-sighted' trade war grow as Trump threatens China with more tariffs - business live

  27-11-2018 10:30
  Rolling coverage of the latest economic and financial news, as US president fires new warning shots at BeijingIntroduction: Trump could impose tariffs on another $267bn of Chinese goods
  Tech product such as iPhones could be hitTrump: Could raise existing tariffs from 10% to 25%
  Trump to meet Xi at G20 9.30am GMT Baird analyst William Power says Trump’s threatened tariffs on Apple products are another blow to the tech giant, on top of existing worries about iPhone demand.Yesterday afternoon
  
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• Thomas Cook in new profits warning after 'disappointing' year

  27-11-2018 09:38
  Shares fall to lowest since 2012 as it says profits are likely to be £30m lower then expectedShares in Thomas Cook plunged on Tuesday after the travel firm issued its second profits warning in two months, blaming a “disappointing” year on the prolonged summer heatwave across Europe.Thomas Cook shares fell 29% to 34p, the lowest since 2012, after it said underlying profits for 2018 were now expected to be £250m – £30m lower than it was expecting two months ago.
  
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• Trump's trade war is no reason to ease monetary policy | Jeffrey Frankel

  27-11-2018 08:56
  Central banks cannot counteract smaller real incomes – only voters can do thatThe world is in a trade war and there is no sign of peace breaking out anytime soon. By now, the disruption to trade appears extensive enough to factor negatively into forecasts for economic growth. Does that mean the Federal Reserve should stop gradually raising interest rates?The answer is no. Monetary policy cannot mitigate the damage done by foolish trade policies. Continue reading...
  
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• £559m Wagamama takeover deal looks a bit rich for some tastes | Nils Pratley

  27-11-2018 08:38
  The noodle chain is popular – but this could be the highest per restaurant ever paid in the UKThere are two ways to look at Restaurant Group’s proposed £559m purchase of Wagamama, a deal that shareholders will back or reject on Wednesday.The first is the one management prefers: the noodle chain will inject growth into a company that needs something fresh to revitalise a tired-looking portfolio that includes Frankie & Benny’s and Garfunkel’s. The other view is th
  
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• I couldn’t use my Wyevale garden centre gift card after Dobies took it over

  27-11-2018 08:00
  I was shocked when I couldn’t use spend £150 voucher locally and was told to travel miles awayI am a keen gardener and was fortunate to receive more than £150-worth of Wyevale garden centres gift cards for my recent summer birthday. I had specified that retailer as there has been a large one near my home for many years. However, when I visited last weekend I was shocked to see that it is now a Dobbies garden centre.I was finally told that I could not use the cards there but tha
  
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• I couldn’t use my Wyevale garden centre gift card after Dobbies took it over

  27-11-2018 08:00
  I was shocked when I couldn’t use spend £150 voucher locally and was told to travel miles awayI am a keen gardener and was fortunate to receive more than £150-worth of Wyevale garden centres gift cards for my recent summer birthday. I had specified that retailer as there has been a large one near my home for many years. However, when I visited last weekend I was shocked to see that it is now a Dobbies garden centre.I was finally told that I could not use the cards there but tha
  
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• A trade war is no reason to ease monetary policy | Jeffrey Frankel

  27-11-2018 08:00
  Central banks cannot counteract smaller real incomes – only voters can do thatThe world is in a trade war and there is no sign of peace breaking out anytime soon. By now, the disruption to trade appears extensive enough to factor negatively into forecasts for economic growth. Does that mean the Federal Reserve should stop gradually raising interest rates?The answer is no. Monetary policy cannot mitigate the damage done by foolish trade policies. Continue reading...
  
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• Is a property crash coming? We answer the 20 most pressing personal finance questions

  27-11-2018 07:00
  Should I buy travel insurance from Ryanair? How much money do I need to retire? And do shops have to accept Scottish banknotes? The Guardian’s money team on everything you need to know about your cashFirst, pay down your debts. It is foolish to keep, say, a £3,000 balance in savings while repaying the monthly minimum on a £5,000 credit card debt. That said, try to keep about £500 aside for emergencies – a car or boiler breakdown, for instance. Once your credit cards
  
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• From Airbnb to city bikes, the ‘sharing economy’ has been bought up by big money | Evgeny Morozov

  27-11-2018 07:00
  To flourish, the informal digital networks providing new services needed to be protected from the marketOf all the ideologies spawned by Silicon Valley, that of techno-populism – the making of empty promises on the basis of seismic digital disruption – is the strangest. Promising a world of immediate and painless personal empowerment, techno-populism is ambiguous enough to unite big tech firms, startups, cryptocurrency aficionados and even some political parties.The history is murky,
  
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• Brexit heightens focus on UK bank stress tests - Financial Times

  27-11-2018 05:01
  Financial Times
  Brexit heightens focus on UK bank stress tests
  Financial Times
  Waiting for exam results is always a stressful time, but for the UK's seven biggest lenders, this week is particularly disquieting. The Bank of England will unveil the results of the annual stress tests of banks' balance sheets on Wednesday after the ...en meer »
  
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• Electric bike-sharing company Lime launches in UK

  27-11-2018 01:01
  San Francisco firm backed by Uber puts 50 e-bikes on to streets of Milton KeynesThe Uber-backed electric scooter and bike-sharing company Lime has launched its first UK operation with dockless e-bikes in Milton Keynes.The Californian transportation company, which launched in early 2017 but is already valued at $1.1bn (£860m), has spread rapidly across the US and parts of Europe. Continue reading...
  
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