Financial news

• UK 'will need to cut taxes or boost spending at next downturn'

  07-12-2018 19:19
  Effectiveness of monetary policy will be limited in next recession, say ex-BoE officialsThe government will need to cut taxes or boost spending when the next economic downturn arrives, according to two former Bank of England officials who said the central bank was low on firepower.The former deputy governors Rachel Lomax and Sir Charles Bean warned ministers they will be unable to rely on monetary policy to combat the next recession now that interest rates are at historically low levels. Continu
  
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• Sluggish US jobs growth prompts another Wall Street sell-off

  07-12-2018 18:46
  Dow falls over 500 points as disappointing figures suggest world’s biggest economy is running out of steamWall Street resumed a sell-off on Friday after disappointing figures from the US jobs market suggested the world’s biggest economy is running out of steam.Adding to concerns rattling stock markets over Donald Trump’s trade dispute with China, the US labor department said that the US economy added 155,000 new jobs in November, well below last month’s figures and expert
  
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• Ted Baker founder Ray Kelvin to take leave of absence

  07-12-2018 18:11
  Board says it has been made aware of ‘further serious allegations’ that it will be investigatingTed Baker founder Ray Kelvin is taking a leave of absence from the fashion company after the board said it had been made aware of “further serious allegations” that it would be investigating.In a statement issued to the stock market just before it closed on Friday afternoon, Ted Baker’s board said the chief operating officer, Lindsay Page, would be taking over as acting c
  
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• Oil prices recover as Opec and allies agree to cut output

  07-12-2018 18:01
  Reduction of 1.2mb/d agreed at Vienna meeting likely to stabilise prices, say observersOil prices have rallied as the world’s major producers agreed a deeper-than-expected cut in output on Friday, recovering the losses of the previous day, when oil-rich states failed to reach a deal.Opec and allies including Russia, which together account for half of the world’s oil production, have committed to reducing output by around 1.2mb/d a day. Continue reading...
  
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• India rupee WARNING: INR will PLUMMET to 75 against US dollar by end of NEXT YEAR – Fitch

  07-12-2018 17:36 via feedproxy.google.com
  INDIA could see its rupee plummet in value again versus the US dollar before the end of next year, Fitch Ratings has forecast, effectively reversing recent good financial fortune for the nation.
  
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• Let’s move to Bangor, County Down: cheery charm and Belfast’s smart set

  07-12-2018 17:30 via theguardian.com
  If you want a marina of yachts or kiss-me-quick seaside, this is the place for youWhat’s going for it? Bangor is quite the surprise. I’m not sure what I was expecting but I think it involved grey pebbledash. The town is full of cheer. Victorian townhouses painted the colour of sweeties. Freshly paved streets with perky new trees, as if civic dignitaries were expecting the Queen on Tuesday. Being a seaside town in the British Isles, it has that inevitable double edge of joy and sorrow
  
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• Dow Jones PLUNGES by 550 POINTS – Global Markets SHIVER as technology stocks lead losses

  07-12-2018 16:43 via feedproxy.google.com
  THE Dow Jones Industrial Average has plunged by 550 points today with shares in major technology companies leading the losses.
  
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• Brexit will hurt low-paid workers. Freedom of movement is not the problem | Jason Moyer-Lee

  07-12-2018 16:37
  Scapegoating EU workers does nothing to solve labour exploitation. Only improved employment rights can do thatAlex is a white, English, low-paid worker. In fact, not only is he low-paid, but until recently he was being denied even the most basic employment rights, such as paid holiday and a pension. A pushbike courier in the Doctor’s Laboratory’s in-house courier department, Alex works alongside another hundred or so pushbike, motorbike and van couriers. A large proportion of these w
  
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• Italian regulator fines Facebook £8.9m for misleading users

  07-12-2018 16:35
  Company criticised over data misuse and ordered to issue an apology on its website and appFacebook has been fined €10m (£8.9m) by Italian authorities for misleading users over its data practices.The two fines issued by Italy’s competition watchdog are some of the largest levied against the social media company for data misuse, dwarfing the £500,000 fine levied by the British Information Commissioner’s Office in September – the maximum that body is able to issue
  
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• Broadband users overpaying up to £220 a year by not haggling

  07-12-2018 15:58 via theguardian.com
  Most firms don’t reward loyalty with older people overpaying the most, says Which?Broadband customers who fail to shop around at the end of their initial contract or haggle for a better deal from their supplier are overpaying by up to £220 a year.Analysis by Which? found BT’s broadband customers were paying the biggest loyalty premium. Only one firm, Utility Warehouse, offered loyal customers the best deals, it said. Continue reading...
  
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• Primark warning sends shivers through high street in festive run-up

  07-12-2018 15:20
  Challenging trading conditions hit UK’s third-largest clothing retailer in NovemberPrimark sent a shiver through the high street on Friday as it warned of “challenging” trading conditions, with Brexit jitters threatening the busiest shopping weeks of the year.Sales at the UK’s third-largest clothing retailer, behind Next and the market leader M&S, have been bucking the high street gloom but Primark warned of subdued sales for November as fewer shoppers visited its sto
  
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• Oil prices SURGE as OPEC agree to SLASH production by 1.2 MILLION barrels per day

  07-12-2018 14:38 via feedproxy.google.com
  OIL prices surged today as The Organisation of the Petroleum Exporting Countries and its Russia-led allies clinched a deal to slash oil production from next year.
  
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• To Hull and back: catching the Zeebrugge ferry in Brexit's shadow

  07-12-2018 14:23
  Jon Henley speaks to customs officials, lorry drivers and tourists as he travels on the Pride of Bruges from Belgium to north-east EnglandOn a chain-link fence beside a wet and windswept road in northern Belgium, a banner flaps bravely against the squalls whipping in from an angry sea. “Your gateway to the UK,” it proclaims, in English. “Brexit-proof Zeebrugge.”That’s the plan, anyway. Since nobody in either the North Sea port or the small beach resort next to it kn
  
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• Eurozone SLOWDOWN: Euro area confirmed to have grown at SLOWEST pace in four years

  07-12-2018 13:57 via feedproxy.google.com
  THE eurozone has been hit by weaker growth data today as the economy was confirmed to have expanded at its slowest pace in four years in the third quarter of 2018.
  
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• UK house price growth slips to six-year low amid Brexit uncertainty

  07-12-2018 12:06 via theguardian.com
  Prices grew by only 0.3% in the year to November, down from 1.5% in October, Halifax saysHouse prices grew at the slowest rate in almost six years in November, as wavering consumer confidence before the UK’s departure from the EU took its toll on the housing market.Prices grew by 0.3% in the year to November, down from 1.5% in October, according to the Halifax house price index, published on Friday. Continue reading...
  
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• Pound euro exchange rate: GBP claws back as eurozone GDP slips

  07-12-2018 12:02 via feedproxy.google.com
  THE pound started off on the back foot against the euro this morning but some weak eurozone GDP figures allowed it to claw back most of its losses and it is currently trading at a rate of €1.122.
  
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• Amazon's HQ2 deal represents what's wrong with American politics | Zephyr Teachout and Ron Kim

  07-12-2018 12:00
  New York is offering the retail giant $3bn to set up shop in Queens – it’s time to pull the plug on corporate welfarePolitical and business leaders often say that conflict creates opportunities. Related: New Yorkers won't give up the fight to stop Amazon colonising our city | Arwa MahdawiContinue reading...
  
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• Pound US dollar exchange rate: GBP lower as UK house price growth strikes six-year low

  07-12-2018 11:56 via feedproxy.google.com
  THE pound US dollar exchange rate is currently trading at $1.273, down 0.3 per cent from today’s opening rate and having falling around half a cent from Thursday’s best levels.
  
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• Pound latest: What will happen to GBP after Brexit vote? This is why pound might NOT drop

  07-12-2018 11:40 via feedproxy.google.com
  THE pound might not plunge after all if Prime Minister Theresa May’s Brexit withdrawal agreement is rejected in Parliament next week, according to currency strategists.
  
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• Bitcoin analysis: If BTC was Rocky, we would all still be rooting for an almighty comeback

  07-12-2018 10:18 via feedproxy.google.com
  BITCOIN'S slow decline towards a disappointing end to 2018 has taken an ominous twist.
  
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• Pound LIVE: GBP Sterling DROPS against euro as Theresa May REFUSES to CANCEL Brexit vote

  07-12-2018 09:46 via feedproxy.google.com
  THE pound dropped against the euro this morning as the crucial crunch vote on Prime Minister Theresa May’s Brexit withdrawal bill edges closers.
  
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• O2 announces goodwill gestures after millions hit by data outage

  07-12-2018 09:07 via theguardian.com
  Provider repeats apology for customers’ loss of connection and offers compensationThe mobile phone provider O2 has said its 25 million UK customers will get up to two days’ credit in compensation as a goodwill gesture after a UK-wide outage that left them unable to get online.The technical fault, which resulted in the 3G and 4G services going down and also had an impact on the ability for many people to make or receive calls, affected millions of users on the UK’s second larges
  
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• UK financial watchdog proposes permanent CFD clampdown - Financial Times

  07-12-2018 09:01
  Financial Times
  UK financial watchdog proposes permanent CFD clampdown
  Financial Times
  The UK financial regulator has announced a tough permanent crackdown on speculative derivatives in another blow to the online trading sector, which is already grappling with temporary EU rules. The Financial Conduct Authority on Friday announced ...
  UK's Financial Conduct Authority Proposes Permanent Measures For Retail ...Exchange News Directalle 8 nieuwsartikelen »
  
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• Huawei caves in to UK's security demands - Financial Times

  07-12-2018 08:35
  Financial Times
  Huawei caves in to UK's security demands
  Financial Times
  Huawei has caved in to demands by British security agencies to address serious risks the UK believe exist in the Chinese group's equipment and software in an attempt to avoid being shut out from future fifth-generation telecoms networks. At a meeting ...en meer »
  
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• I was charged £231 for car hire insurance I didn't need

  07-12-2018 08:00 via theguardian.com
  Easirent made a mistake, but then refused to give me a refundI am a regular customer with Easirent and recently paid £119.54 to hire a car from Manchester airport. When I arrived to collect it, I was told that, as I had hired cars for more than 90 days the previous year, I had to take out excess insurance costing £231, even though I had annual cover with insurance4carhire. When I asked to see proof of my rental history the clerk told me he couldn’t show me, so I had no immediat
  
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• Homes with a good chance of a white Christmas – in pictures

  07-12-2018 08:00 via theguardian.com
  Let it snow in these five properties close to high ground, from Devon to Cumbria Continue reading...
  
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• Inside China's audacious global propaganda campaign

  07-12-2018 07:00
  Beijing is buying up media outlets and training scores of foreign journalists to ‘tell China’s story well’ – as part of a worldwide propaganda campaign of astonishing scope and ambition.
  By Louisa Lim and Julia BerginAs they sifted through resumes, the team recruiting for the new London hub of China’s state-run broadcaster had an enviable problem: far, far too many candidates. Almost 6,000 people were applying for just 90 jobs “reporting the news from a Chines
  
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• State pension age HAS RISEN for millions born from December 1953 onwards

  07-12-2018 06:54 via feedproxy.google.com
  THE state pension age has rising for millions of people as the time of life for when men and women can claim equalises increases.
  
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• Huawei forced to meet UK 5G security demands - Financial Times

  07-12-2018 05:50
  Financial Times
  Huawei forced to meet UK 5G security demands
  Financial Times
  Huawei has caved in to demands by UK security officials to address serious risks found in its equipment and software in a bid to avoid being shut out from future 5G telecoms networks. At a meeting this week between Huawei executives and senior ...en meer »
  
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• UK to create passenger charter as part of aviation strategy - Financial Times

  07-12-2018 01:01
  UK to create passenger charter as part of aviation strategy
  Financial Times
  The UK government will announce today that it intends to create a passenger charter as part of its new aviation strategy, with a focus on people travelling with reduced mobility and hidden disabilities. Visiting Gatwick airport, aviation minister Liz ...en meer »
  
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• UK employers pick EU staff for quality, not cost - Financial Times

  07-12-2018 01:01
  Financial Times
  UK employers pick EU staff for quality, not cost
  Financial Times
  British employers overwhelmingly hire EU staff because they are the “best person for the job” rather than out of a desire to undercut the local workforce or avoid the hassle of training Britons, a survey has found. A poll by the Institute of Directors ...
  
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