Financial news

• Why China's Huawei should not be allowed in UK 5G telecoms - Financial Times

  05-12-2018 21:35
  Financial Times
  Why China's Huawei should not be allowed in UK 5G telecoms
  Financial Times
  The British government is debating whether Huawei, the Chinese telecoms company, should be allowed to bid for the new 5G telecoms system. No similar debate was held in Beijing: foreign companies are excluded from China's 5G. Debating Huawei has not ...en meer »
  
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• KPMG cannot fail to profit from lack of competition

  05-12-2018 20:12
  The auditor is in regulatory equivalent of special measures but partners in UK enjoyed improvement in remunerationReputation down, revenues and profits up. Welcome to the pleasant world of KPMG. The firm is in the regulatory equivalent of special measures after the Financial Reporting Council found “an unacceptable deterioration” in audit quality in August but the 635 partners in the UK enjoyed a (very) acceptable improvement in remuneration. They collected £601,000 on average,
  
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• TSB staff to get £1,500 each as reward for handling IT fiasco

  05-12-2018 19:03
  Payout will cost bank £11m and will replace March bonus, which is linked to profitsTSB is handing most of its employees £1,500 each by Christmas to reward them for handling the fallout from its IT meltdown earlier this year.The payout will cost the bank £11m and temporarily replace the company’s March bonus, which is linked to annual profits and customer service metrics and will not pay out this year because TSB will miss its targets. Continue reading...
  
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• Ted Baker vows swift investigation into 'forced hugging' claims

  05-12-2018 19:01
  Senior non-executive director to lead inquiry into allegations against founder Ray KelvinA senior Ted Baker non-executive director will lead a “professional, impartial” and swift investigation into allegations that the company’s founder and chief executive, Ray Kelvin, forced hugs and kisses on employees.Sharon Baylay, a former BBC Worldwide and Microsoft executive who joined Ted Baker’s board this summer, has been appointed to lead a “thorough and urgent” ind
  
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• Sir Terry Morgan resigns as chairman of Crossrail and HS2

  05-12-2018 18:48
  Decision comes after he predicted he would be sacked from both roles ‘within days’Sir Terry Morgan, the chairman of Crossrail and HS2, who last week predicted he would be sacked from both roles “within days” due to delays and cost overruns, has resigned.The Department for Transport said Morgan, who became chairman of Crossrail in 2009 but had been in charge of HS2 for only four months, had stepped down from the senior posts. Continue reading...
  
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• How to make money from property without the hassle of buy-to-let

  05-12-2018 18:01 via feedproxy.google.com
  Investors have a new way of tapping into the potentially high returns of the UK property market without the bother of becoming a buy-to-let landlord
  
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• Facebook discussed cashing in on user data, emails suggest

  05-12-2018 17:47
  Social network staff apparently conversed about removing data restrictions for big ad spendersFacebook staff in 2012 discussed selling access to user data to major advertisers, before ultimately deciding to restrict such access two years later, according to a tranche of internal emails released by the UK parliament.The internal emails were obtained by the House of Commons digital, culture, media and sport (DCMS) committee last month after they had been disclosed, under seal, by Facebook as part
  
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• Turkey lira latest: TRY firms against US dollar as bank vows to tackle inflation

  05-12-2018 17:30 via feedproxy.google.com
  TURKEY saw its lira firm up against the US dollar today as the central bank vowed to stick to a 5 percent inflation target – despite the lira crisis sending the rate soaring to a 15-year high.
  
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• Brexit betrayal would damage society, Philip Hammond tells MPs

  05-12-2018 17:25
  Chancellor warns that harm to society would outweigh economic cost of leavingA betrayal of the Brexit vote would have far-reaching consequences for the social fabric of Britain that would outweigh the economic cost of leaving the EU, Philip Hammond has told MPs.In an admission from a senior government figure that Brexit is a political calculation rather than one that will benefit the economy, the chancellor said that Theresa May’s deal allowed the country to “move on” without l
  
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• India rupee latest: Reserve Bank leaves interest rates unchanged as INR holds against USD

  05-12-2018 17:22 via feedproxy.google.com
  INDIA’S central bank kept interest rates unchanged today as the rupee held ground against the US dollar.
  
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• Funding Nemo: £600m power cable connects UK and Belgium

  05-12-2018 17:09
  Energy link covers 80-mile route along seabed between Richborough and ZeebruggeA £600m cable connecting the UK and Belgium’s energy systems is about to be switched on, becoming the first of a new generation of interconnectors that will deepen the UK’s ties to mainland Europe just as it prepares to leave the EU.The Nemo link is in the final stages of testing and from early 2019 is expected to transmit power over an 80-mile route along the seabed between Richborough in Kent and Z
  
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• Best places to work in the UK revealed – did YOUR company make the list?

  05-12-2018 17:04 via feedproxy.google.com
  THE best places to work in the UK have been revealed with a utility company beating the likes of Apple and the BBC.
  
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• Emails show Facebook offered preferential access to data, UK alleges - Financial Times

  05-12-2018 16:47
  Financial Times
  Emails show Facebook offered preferential access to data, UK alleges
  Financial Times
  British MPs have accused Facebook of striking secret deals to give developers access to user data, after seizing internal emails that show a pattern of disregarding privacy and the risks of data leaks. Facebook signed deals that gave preferential ...en meer »
  
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• Brexit latest: Make sure your finances are Brexit-proofed

  05-12-2018 16:47 via feedproxy.google.com
  AS the UK faces the possibility it might crash out of the EU without a deal next March, now is the time to make sure your finances are able to withstand the impact.
  
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• Who will protect us from digital deception? Not tech companies | Ann M Ravel and Samuel Woolley

  05-12-2018 16:28
  Technology companies have not found an adequate solution to the problem of digital deception – they must be regulatedIt’s too late to save the 2018 US midterms from digital deception campaigns – but it’s not too late for democracy.This year’s elections saw an unprecedented rise in political manipulation over social media. In October, the Department of Justice charged a Russian national with running a US-focused political disinformation campaign that had a budget of
  
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• South Western Railway relents and allows use of reusable cups

  05-12-2018 15:41 via theguardian.com
  Rail operator said ‘safety aspect’ was involved in giving those on board disposable cupsA rail operator has done a U-turn and agreed to let passengers use their own reusable cups for hot drinks bought on board its trains after criticism by environmental campaigner Hugh Fearnley-Whittingstall.South Western Railway changed its policy after the chef complained on Twitter during a journey that buffet car staff – employed by catering company Rail Gourmet – had “refused&r
  
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• Italy RECESSION looming? Rome WARNED over financial slowdown as EU budget row rumbles on

  05-12-2018 15:16 via feedproxy.google.com
  ITALY could be braced for its first recession in five years, analysts have warned, as the cash-strapped nation continues to grapple with European Union finance chiefs over its controversial budget.
  
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• Deliveroo riders lose high court battle to gain union recognition

  05-12-2018 14:32
  Rejection of right to collective bargaining is a blow to gig economy campaignersDeliveroo riders have lost a high court battle to gain union recognition, in a blow to gig economy campaigners.The ruling dismissed a judicial review brought by the Independent Workers Union of Great Britain (IWGB), which aimed to overturn an earlier ruling that confirmed those working for the delivery firm were self-employed. Continue reading...
  
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• KPMG partners receive bumper payouts despite Carillion fallout

  05-12-2018 14:19
  Contractor’s demise fails to dent auditing firm’s business as profits jump 18% KPMG, the auditing firm that gave Carillion a clean bill of health, has reported a leap in profits that will result in the average pay of its 635 partners soaring from £519,000 to more than £600,000 each.Only months after KPMG was accused by MPs of being part of a “cosy club” and “complicit” in the run-up to the collapse of the construction and government outsourcing com
  
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• Iceland's banned palm oil advert should have aired, says ITV chief

  05-12-2018 14:11
  Carolyn McCall said it was ‘ludicrous’ ad seen 65m times online could not run on TVThe chief executive of ITV has said she believes Iceland’s controversial anti-palm oil festive campaign should have been allowed to air on TV.As part of its festive campaign the discount supermarket struck a deal with Greenpeace to rebadge an animated short film featuring an orangutan and the destruction of its rainforest habitat at the hands of palm-oil growers. Continue reading...
  
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• Brexit POWER grab: Frankfurt poised to swipe £711BILLION worth of assets from London

  05-12-2018 13:36 via feedproxy.google.com
  GERMANY is poised to swipe a mammoth £711 billion worth of assets from London as lenders shift operations to Frankfurt ahead of Brexit.
  
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• Donald Trump and Xi Jinping have brokered peace. It will be sorely tested | Kevin Rudd

  05-12-2018 12:39
  The trade agreements thrashed out in Buenos Aires amount to a fragile truce. By March, we will know the true lay of the landWhat Donald Trump and Xi Jinping did in Buenos Aires was buy time. Three months, in fact. Which is good when measured against the alternative: which was a full-blown trade and broader economic war between the two countries. Which in turn had the potential to trigger a further collapse in global market sentiment, particularly coming on the back of other negative trends emerg
  
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• Pound US dollar exchange rate: GBP muted as UK service sector growth slows

  05-12-2018 12:30 via feedproxy.google.com
  THE pound US dollar exchange rate is currently trading at $1.273, virtually unchanged from this morning’s opening levels, but up around half a cent from the 18-month low struck on Tuesday.
  
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• Pound euro exchange rate: GBP holds up despite a rough night in Parliament for May

  05-12-2018 12:30 via feedproxy.google.com
  THE pound is clawing back losses made in the session yesterday afternoon, and is currently trading at a rate of €1.123.
  
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• Ryanair faces legal action over refusal to compensate cancelled flights

  05-12-2018 12:26 via theguardian.com
  Passenger flights grounded by strikes must be repaid under EU law, warns Civil Aviation AuthorityThe UK’s Civil Aviation Authority is taking legal action against Ryanair over the airline’s refusal to compensate thousands of UK customers affected by flight disruption over the summer.Ryanair was hit by its worst ever strikes in the summer, as walkouts by pilots and cabin crew over pay and conditions forced it to cancel flights, including to major holiday destinations such as Spain, Ita
  
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• The £40 cinema ticket – is any film worth the price?

  05-12-2018 12:07 via theguardian.com
  The top prices for Mary Poppins Returns at Odeon Leicester Square have left many wondering whether the luxury cinema movement has gone too farRising cinema prices are not a new matter of concern – least of all in London’s West End, where paying the equivalent of a mid-budget restaurant meal to see the disposable blockbuster of the week (add popcorn at your peril) has been standard for years. But the venerable Odeon Leicester Square, back in action after an extensive and expensive ref
  
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• Bitcoin comment: Questions should be asked of BTC - that's how we make it better

  05-12-2018 12:06 via feedproxy.google.com
  A TOP academic's claim that bitcoin is doomed has been welcomed as “a useful question” by a leading cryptocurrency analyst.
  
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• UK service industry barometer hits lowest level since Brexit vote - Financial Times

  05-12-2018 11:52
  Financial Times
  UK service industry barometer hits lowest level since Brexit vote
  Financial Times
  Political turmoil over the outcome of the Brexit negotiation helped push activity in the UK's service sector in November to its lowest level since the immediate aftermath of the Brexit referendum, according to a key survey of executives working in the ...en meer »
  
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• Private firms are making big money out of children's social services | Ray Jones

  05-12-2018 10:23
  Companies have colonised social work, with those at the top taking the profits while families in difficulty continue to sufferChildren’s social services have been bitten hard bygovernment-imposed financial cuts since 2010. Politically-chosen austerity has led to poor children and families moving from deprivation to destitution, and the help they might have received has been stripped away. The consequence is more concerns about the safety and welfare of children, leading to a 159% increase
  
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• Pound LIVE: GBP clawing back against euro but under 'increased pressure' from Brexit

  05-12-2018 09:55 via feedproxy.google.com
  THE pound is edging higher against the euro this morning after a turbulent 24 hours for Theresa May saw the Prime Minister suffer a triple defeat in the House of Commons.
  
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• Why did LG play pass the parcel with our repaired TV?

  05-12-2018 09:00 via theguardian.com
  It insists it’s out for delivery but the courier says it doesn’t have itI bought an LG television around Christmas last year and recently it developed a fault. I contacted LG several times and, eventually, it admitted a repair was needed and arranged to collect it. Just under a week later I was told it had been repaired and would be delivered the next day but it was not. This is where the problems began. The courier claims it was never entered in its network, while LG keeps telling m
  
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• No jobs, no homes, no services: how inequality is crippling young people | Anna Bawden

  05-12-2018 08:30 via theguardian.com
  A new report concludes that socioeconomic factors are seriously jeopardising the future health of 16 to 24-year-oldsYoung people’s health and wellbeing is being eroded by a lack of jobs, a shortage of housing and cuts to public services. A new report by the Health Foundation published today concludes that in many cases, the long term health of 16- to 24-year-olds is being jeopardised by socioeconomic factors and a lack of public services. “To be healthy, everyone needs a job, a frien
  
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