Financial news

• BT loses appeal to change method of pensions calculation

  04-12-2018 19:17 via theguardian.com
  Bid to use consumer price index for future payments could have cost members £2bnBT has lost a legal bid to make changes to its pension scheme that unions claim would have transferred an estimated £2bn of wealth from scheme members to shareholders.The court of appeal dismissed the company’s request to change the way it calculates increases to pensions – a move that would have affected more than 80,000 members of the scheme. Continue reading...
  
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• Pound bounces back: Sterling recovers from HUGE plunge after SHOCK May Brexit defeat

  04-12-2018 18:52 via feedproxy.google.com
  THE POUND bounced back as MPs voted to block the chances of a no deal Brexit just an hour after the currency tumbled to its lowest level in nearly a year-and-a-half after the Government lost a crucial contempt vote in the House of Commons.
  
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• Norway-style deal poses risk to UK financial sector, says Carney - Financial Times

  04-12-2018 18:20
  Financial Times
  Norway-style deal poses risk to UK financial sector, says Carney
  Financial Times
  A Norway-style arrangement that left the UK subject to European rules it could not influence would be “highly undesirable” for financial stability, Mark Carney said on Tuesday. The Bank of England governor said there would be risks to the financial ...en meer »
  
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• UK housing crisis hurts the young and the poor | Letters

  04-12-2018 17:59 via theguardian.com
  Guardian readers air their views on high property prices, a lack of affordable housing, and rogue landlordsGaby Hinsliff’s forebodings (If a house price crash sounds like good news, you should think again, 30 November) are for the haves, not the have-nots. Unless prices come back to a mortgageable multiplier of average local earnings, more and more young adults and families without inherited property wealth face a lifetime of insecure renting.Neither is there much hope for them in “a
  
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• Shared leave policy is a confused mess | Letter

  04-12-2018 17:58 via theguardian.com
  The system is in urgent need of reform, writes Peter MossThe feature on “shared parental leave” (The couples who share parental leave – and its highs and lows, 1 December) failed to explain that this policy is not parental leave at all, but transferable maternity leave with use by fathers dependent on their partner’s agreement to transfer a part of her maternity leave. Genuine parental leave is an entitlement equally available to both parents. Though not mentioned in your
  
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• Turkey lira: TRY weakens against US dollar as annual inflation DROPS from 15-year high

  04-12-2018 16:59 via feedproxy.google.com
  TURKEY saw its lira weaken against the US dollar today as annual inflation dropped from a 15-year high, official data showed.
  
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• India rupee SLIPS further in value against US dollar as oil prices extend gains

  04-12-2018 16:44 via feedproxy.google.com
  INDIA has seen its rupee slip further in value against the US dollar as oil prices continued to extend gains today.
  
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• We need a competent transport secretary. We’ve got Chris Grayling | Gaby Hinsliff

  04-12-2018 13:53 via theguardian.com
  He has presided over chaos on the UK’s railways, but the man with the reverse Midas touch steams merrily onWill nothing derail Chris Grayling?The transport secretary has long presided over a shambles of a public service and now stands accused by the cross-party transport select committee of failing to take proper responsibility for the rail timetabling crisis that turned so many lives upside down earlier this year. Children missed school lessons, adults feared for their jobs and livelihood
  
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• 'It's NOT the end of the world' Mervyn King SLAMS Mark Carney over Brexit analysis

  04-12-2018 12:53 via feedproxy.google.com
  FORMER Bank of England governor Mervyn King has launched a scathing attack on his successor Mark Carney today as he criticised the BoE’s involvement in Brexit.
  
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• Pound US dollar exchange rate: GBP shoots higher despite ‘Pandora’s box’ warning

  04-12-2018 12:34 via feedproxy.google.com
  THE pound is clawing back its losses made in yesterday’s session against the dollar and is currently trading up 0.7 per cent at a rate of $1.282.
  
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• 'You asked – we brought it!' Mark Carney TAKES AIM at Brexiteers over BoE analysis

  04-12-2018 12:26 via feedproxy.google.com
  BANK of England governor Mark Carney has taken aim at critics who slammed the Bank of England’s bleak analysis of Brexit impact on the economy.
  
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• Italy to BUCKLE to EU? Rome ‘to present NEW budget proposal to finance chiefs TODAY'

  04-12-2018 11:31 via feedproxy.google.com
  ITALY is braced to present a new budget proposal to European Union finance chiefs within the next few hours, according to Italian reports.
  
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• Bitcoin comment: Drama ahead as BTC faces a crypto crossroads

  04-12-2018 11:21 via feedproxy.google.com
  BITCOIN'S stable sideways movement of the last few days is shuffling over ever-thinning ice as the leading cryptocurrency is struggling to keep within touching distance of its $4,000 value.
  
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• Majority of UK companies have not made preparations for Brexit - Financial Times

  04-12-2018 11:15
  Majority of UK companies have not made preparations for Brexit
  Financial Times
  The majority of Britain's companies have not yet made any preparations for Brexit, a report by the Bank of England's regional agents has found. The central bank's regional agents asked 369 companies whether they had set up new legal entities, relocated ...en meer »
  
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• UK construction firms point to tentative recovery in November - Financial Times

  04-12-2018 10:46
  UK construction firms point to tentative recovery in November
  Financial Times
  UK construction firms pointed to a tentative recovery in November, with levels of business optimism in the sector perking up after hitting a near six-year low the previous month. A survey of business executives, which acts as a leading indicator ...en meer »
  
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• Pound LIVE: GBP Sterling CLIMBS against euro after EU lawyer says UK could CANCEL Brexit

  04-12-2018 10:02 via feedproxy.google.com
  THE pound climbed back up against the euro this morning as the exchange rate rallied off news that Britain could effectively reverse Brexit.
  
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• ECJ's top legal adviser says UK can unilaterally end Brexit - Financial Times

  04-12-2018 09:51
  Financial Times
  ECJ's top legal adviser says UK can unilaterally end Brexit
  Financial Times
  Britain can decide to withdraw its notification to leave the EU without seeking permission of other remaining member states, according to advice to judges at the European Court of Justice that represents a significant success for anti-Brexit campaigners.en meer »
  
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• Premium Bonds December 2018: Winning numbers - Did YOU win December Premium Bonds jackpot?

  04-12-2018 09:44 via feedproxy.google.com
  THE Premium Bonds winning numbers have been announced for December and two lucky winners have become millionaires overnight, but who has won the December Premium Bonds jackpot?
  
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• Why were we fined £137 over a £4.20 toll pass in Hungary?

  04-12-2018 08:00 via theguardian.com
  Euro Parking Collection are chasing us for failing to buy an electronic e-vignetteIn August my wife and I took a motorcycle tour of Europe which passed off uneventfully until last month when we received two letters demanding £137 from a firm called Euro Parking Collection. They claim to be on behalf of the Nemzeti Útdíjfizetési Szolgáltató Zrt, the motorway organisation in Hungary, and were for being on motorways without buying an e-vignette. We did use t
  
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• Fast Europe Open: UK construction activity, eurozone producer prices - Financial Times

  04-12-2018 07:06
  Fast Europe Open: UK construction activity, eurozone producer prices
  Financial Times
  Donald Trump's top economic adviser has raised hopes of rapid progress with China on trade talks, saying he was seeing “tremendous urgency”. But beneath his bullish assessment lay a host of unanswered questions. Larry Kudlow said in a briefing with ...en meer »
  
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• UK attorney-general urges MPs to back Brexit agreement - Financial Times

  04-12-2018 04:48
  Financial Times
  UK attorney-general urges MPs to back Brexit agreement
  Financial Times
  Geoffrey Cox, the government's chief legal officer, claims that there is no unilateral right for the UK or the EU to terminate the so-called Irish backstop. Share on Twitter (link opens in a new browser window) · Share on Facebook (link opens in a new ...
  
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• Access to 'bank of mum and dad' divides UK's generation rent - Financial Times

  04-12-2018 01:03
  Financial Times
  Access to 'bank of mum and dad' divides UK's generation rent
  Financial Times
  Parental wealth has become far more important in determining whether young people in the UK own a home or not since the financial crisis, according to a report from a think-tank that demonstrates how the UK's property market is entrenching inequality.en meer »
  
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• 'Indefensible optimism' behind UK's rail timetabling debacle - Financial Times

  04-12-2018 01:02
  Financial Times
  'Indefensible optimism' behind UK's rail timetabling debacle
  Financial Times
  This year's disastrous UK railway timetable upgrade was a “collective, system-wide failure”, a parliamentary report has said, with parts of the industry demonstrating an “indefensible optimism bias” in the months leading up to its launch in May. The ...en meer »
  
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• P2P lender Zopa granted full UK banking licence - Financial Times

  04-12-2018 01:01
  Financial Times
  P2P lender Zopa granted full UK banking licence
  Financial Times
  Zopa, the 13-year-old peer-to-peer lender, has become the first of its kind to be awarded a full UK banking licence. The Financial Conduct Authority's decision to grant the licence marks the first major breakthrough by a P2P lender into mainstream banking.en meer »
  
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• MPs call for fare freeze for those most affected by rail timetable fiasco

  04-12-2018 01:01 via theguardian.com
  Select committee report highly critical of transport secretary as it blames collective failureFares should be frozen for passengers most affected by the upheaval in rail timetabling in May, MPs have demanded.A scathing report by the transport select committee said the chaotic change to the schedules on 20 May, which led to the cancellation or severe disruption of thousands of train services in the ensuing weeks, should be the catalyst for reform, including automatic compensation schemes. Continu
  
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