Financial news

• Engaged workers might be busy – pretending, research finds

  19-12-2018 18:43 via theguardian.com
  Study warns that teams can appear productive in the workplace but actually behave in Machiavellian waysThere is the team full of hard workers and there is the group of moaners, but according to researchers there is another type of team in the workplace – and they are up to no good.Researchers say these “Machiavellian” types appear to throw themselves into group work while actually behaving as lone wolves. Continue reading...
  
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• Mark Zuckerberg's Facebook year in review (it's not been the best) - video

  19-12-2018 17:26
  What a year it's been for the Facebook founder. There was that unforgettable Senate hearing, that huge data scandal and, oh yes, those 2 million Europeans who left the site. One to remember. Merry Christmas, Mark Continue reading...
  
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• Santander fined for keeping dead customers' money

  19-12-2018 13:56 via theguardian.com
  Bank failed to treat customers and their next of kin fairly – Financial Conduct AuthoritySantander UK has apologised after being hit with a £32.8m fine for holding millions of pounds back in deceased customer accounts up to 21 years after their deaths.City watchdog the Financial Conduct Authority said the the high street bank failed to treat customers and their next of kin “fairly”, having stalled or failed to complete the probate process despite being informed of their d
  
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• London property slump drags back UK house price growth

  19-12-2018 12:45 via theguardian.com
  Stalling house prices, slowing inflation and Brexit will deter interest rate rise – analystsLondon house prices slipped in October, dragging the growth in average property prices to its lowest level since July 2013.The slump in the capital, which began after the Brexit vote in 2016 and reached a fall of 1.7% for the year to October 2018, pulled down the average increase across the UK to 2.7%, down from 3% in September, according to official data. Continue reading...
  
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• Watchdog plans price caps to stop £4bn loyal customer rip-off

  19-12-2018 09:49 via theguardian.com
  Radical reforms aim to stop insurance, mortgage, phone and broadband firms overchargingThe competition watchdog has laid down a set of radical reforms to how the insurance, mortgage, mobile phone and broadband markets operate after finding that loyal customers are being overcharged by £4bn.Following a “super complaint” by Citizens Advice, the Competition and Markets Authority investigated concerns that firms penalise existing customers by charging them higher prices than new cu
  
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• Why did Amazon charge me £827 for an order I didn’t make?

  19-12-2018 08:00 via theguardian.com
  I didn’t recognise the delivery address, and so far I haven’t got a full refundLast November I received an email from Amazon thanking me for ordering an £827 iRobot vacuum cleaner. I did not order it, nor did I recognise the Luton delivery address, but the money had already been taken from my account. Amazon has not refunded me and the bank has only agreed to a temporary credit.SJ, West Wales. Continue reading...
  
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• Bank of England must reform to meet spending targets, says NAO

  19-12-2018 07:01
  Report says Bank moving in right direction but warns against underestimating scale of changeThe Bank of England must “bear down” on costs and ramp up reforms if it hopes to meet its own spending targets, the National Audit Office has said.The central bank has capped its staff numbers to 4,281 and committed to limiting spending – excluding pensions and the cost of producing banknotes – to £476m per year. Continue reading...
  
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• British economy forecast to fall in GDP rankings

  19-12-2018 01:01
  PwC analysis predicts India will rise to fifth as Brexit impact pushes UK to seventhBritain’s stalled economy will fall back in the international rankings next year to sit in seventh place behind India and France, according to a report by consultants at PwC.A fall in the value of the pound, combined with slower growth this year and next as Brexit takes its toll, will mean the UK drops from fifth in the GDP rankings to sit just above Italy in eighth place and Brazil in ninth. Continue readi
  
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