Financial news

• Wall Street stocks suffer worst week in a decade

  21-12-2018 22:41
  After another day of volatile trading, the Nasdaq, Dow and S&P 500 are on pace for their worst month since 2009Wall Street stocks fell in volatile trading on Friday, with the Nasdaq, Dow and S&P 500 on pace for their worst month since 2009.After another day of highly volatile trading the tech-heavy Nasdaq sank to a 15-month low, falling as much as 21.5% from its 29 August high. The benchmark S&P 500 index, already on pace for its biggest percentage decline in December since the Great
  
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• Goldman Sachs facing class action lawsuits over 1MDB scandal

  21-12-2018 20:10
  Two lawsuits filed in New York on behalf of investors who claim the bank misled themGoldman Sachs has been hit with two class action lawsuits on behalf of investors who claim they were misled over the bank’s involvement in the 1MDB scandal.Two separate cases have been filed at district court in New York over the past 48 hours by Pomerantz LLP and Rosen Law Firm. They allege that Goldman Sachs failed to disclose its dealings in a fraud and money laundering scheme around the Malaysian state
  
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• Gatwick reopens after latest drone sighting causes more disruption

  21-12-2018 19:47
  Runway operations were halted again for brief period after fresh drone activityGatwick airport: latest news on the disruptionPassengers faced further disruption at Gatwick airport on Friday evening after another sighting of a drone led to planes again being grounded for a brief period.Runway operations were halted at 5.10pm after a report of a drone, but were restarted just over an hour later. Continue reading...
  
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• Interserve unveils plan to improve finances and quell 'next Carillion' anxiety

  21-12-2018 19:06
  Government insists contractor is not in same situation as collapsed former rival Government contractor Interserve has unveiled a plan to strengthen its finances and quell anxiety that it could become the next Carillion, a day after construction group Kier completed a fundraising with the same aim.The two companies have become the focus of concern about their debt levels after the high-profile collapse of Carillion led investors and analysts to look for potential weaknesses in other large firms i
  
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• Super Saturday: retailers hope for £1.4bn surge in sales

  21-12-2018 18:28 via theguardian.com
  Sainsbury’s expect to sell four tonnes of sprouts, 1.8m mince pies and 400,000 bottles of fizzRetailers are hoping for a surge in sales this weekend as shoppers switch from ordering online to hitting the high street for last-minute Christmas purchases.About £1.4bn is expected to be spent in stores on Saturday alone, according to the Centre for Retail Research and VoucherCodes, with clothing and footwear, last-minute gifts, cosmetics and perfume at the top of shopping lists. Continue
  
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• Judge fines Thames Water £2m over river pollution

  21-12-2018 17:57
  Utilities firm breached environmental regulations over raw sewage flowing into a brook in the CotswoldsThames Water has been handed a £2m fine for a “reckless failure” which led to the polluting of a tributary of the Thames with raw sewage.The £2bn-turnover utilities firm admitted breaching environmental regulations in relation to untreated sewage flowing into a brook near Milton-under-Wychwood, near Chipping Norton in the Cotswolds, in August 2015. Continue reading...
  
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• Cash-strapped Britons keep spending but firms cut investment

  21-12-2018 17:34
  Households help UK economy bounce back over quarter as Brexit fears spook businessesCash-strapped households provided most of Britain’s growth in the three months to September, as businesses cut investment again amid fears over Brexit.Official figures confirmed the economy bounced back from the freezing temperatures earlier in the year as shoppers spent heavily during the football World Cup and a long heatwave. Continue reading...
  
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• India rupee rally ENDS: INR ends four-day winning streak as it CRASHES back against dollar

  21-12-2018 17:25 via feedproxy.google.com
  INDIA has seen its rupee end a four-day rally against the US dollar as it crashed back through the 70 barrier.
  
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• Sale signs greet shoppers on busiest retail day of the year

  21-12-2018 17:07
  Consumers brave the rain in Glasgow, where 94 stores closed and 41 opened in 2017Friday is predicted by experts to be the busiest retail day of the year so far by volume of shop visits. But on Buchanan Street, Glasgow’s main pedestrianised thoroughfare, the December downpour may be playing its part in confounding this forecast, as the late morning footfall is steady rather than bustling.The street ranges from John Lewis and the Buchanan Galleries at the rise of the hill to the House of Fra
  
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• Boxing Day sales: Save your cash – the best deals can actually be found on THESE days

  21-12-2018 17:07 via feedproxy.google.com
  THE Boxing Day sales might not be as good as they appear with shoppers being told to splash the cash on Christmas Day and New Year’s Day instead for the biggest savings.
  
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• Value of Debenhams slips below fishing equipment retailer

  21-12-2018 16:52
  Debt-ridden chain is worth about £8m less than Angling Direct as shares tumbleDebenhams, a stalwart of the British high street with 165 UK stores and sales of £2.9bn, has sunk in value to below a 24-store fishing tackle chain in a situation that lays bare the changing face of retail.Fears that the department store group is heading for the rocks sent its shares down a further 5% on Friday to a new low of 3.8p. This values the group at £46.6m – about £8m less than the
  
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• 'It's the fault of one idiot': passengers wait it out at Gatwick

  21-12-2018 16:30
  Many travellers full of praise for airport staff after cancellations due to drone disruptionThough unusually busy, the atmosphere at Gatwick’s south terminal was relatively calm on Friday morning. People had arrived well prepared for disruption the day after repeated drone sightings closed the runway for 36 hours.Leigh Wynkoop and her son Paul were among many of those back at the airport for a second day, in a bid to get home. They were waiting to catch a flight to New York before travelin
  
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• Bitcoin price 2019 prediction: Forecasters REVEAL five BTC price scenarios - $0 to $36,000

  21-12-2018 16:21 via feedproxy.google.com
  BITCOIN prices will end up somewhere between £0 and £28,468.08 next year, according to five cryptocurrency experts. Here are their top bitcoin predictions for 2019.
  
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• Sadiq Khan denies he was told earlier about Crossrail delays

  21-12-2018 16:02
  London mayor tells assembly there is no ‘smoking gun’ over overrunning rail projectSadiq Khan, the mayor of London, has said the former chair of Crossrail was “misremembering” whether he had been given warnings about delays to the London railway project.Speaking at the London assembly, Khan denied he was told in a meeting with Sir Terry Morgan on 26 July that the infrastructure project would be delayed. Khan told the assembly’s transport committee there was no &ldqu
  
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• What to buy the super-rich this Christmas? A luxury experience, of course

  21-12-2018 16:00
  Retailers’ bids to woo wealthy include private dinner inside Jimmy Choo’s or Antarctica tripIt is always a struggle trying to find Christmas presents for the person who has everything. Imagine what it is like trying to find a gift for the person who has it all – and a million or two in the bank.The present-buying struggles of the richest 1% have led luxury goods companies to devise a range of “exceptional experience” gifts that are “always indulgent” and
  
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• Ex-Persimmon chief fails to set up charity after anger over £75m bonus

  21-12-2018 13:49
  Jeff Fairburn had said he would donate ‘substantial proportion’ of payout following outcryJeff Fairburn, the former chief executive of the housebuilder Persimmon, has failed to set up a charity almost a year after pledging to do so in an attempt to assuage public and political anger at his “obscene” £75m bonus.Fairburn has not registered a charity with the Charity Commission or made any inquiries about how to set one up, 10 months after he said he would donate a &ld
  
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• Pound euro exchange rate: GBP buoyed as UK GDP prints in line with expectations

  21-12-2018 13:21 via feedproxy.google.com
  THE pound euro exchange rate is trading at €1.108, up nearly 0.3 per cent so far this morning and edging away from a one-week low.
  
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• How a no-deal Brexit could affect UK travellers

  21-12-2018 13:15 via theguardian.com
  Flights, passports, car rental, visas, currency … the European commission has released its no-deal contingency plan, including measures to keep skies openAfter months of speculation and uncertainty, light is being shed on the probable impact Brexit will have on travel for UK citizens.If the EU withdrawal agreement is accepted in the parliamentary vote on 14 January 2019, nearly all of EU law would continue to apply to the UK during the transition period, including travel law and regulatio
  
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• Bitcoin WARNING: Is a New Year HEADACHE coming for BTC? – Analysis

  21-12-2018 13:01 via feedproxy.google.com
  AS ANYONE with a sliver of aviation knowledge will tell you, if an ascending aircraft can’t generate enough lift it stalls.
  
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• EU growth forecast has boosted confidence – but is it misplaced? | Mohamed El-Erian

  21-12-2018 12:52
  OECD’s predictions may prove overly optimistic due to EU leaders’ lack of team spirit The European commission, the International Monetary Fund and the OECD predict that, on average, the EU’s economy will grow by 1.9% next year, a rate that is broadly consistent with the average of 2% expected for this year. But the picture this paints may prove to be overly optimistic, not only because the growth rate itself is likely to disappoint, but also because there is significant downwar
  
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• Interserve reveals plan to improve finances

  21-12-2018 12:19
  Government insists contractor is not in same situation as CarillionGovernment contractor Interserve has unveiled a plan to strengthen its finances and quell anxiety that it could become the next Carillion, a day after construction group Kier completed a fundraising with the same aim.The two companies have become the focus of concern about their debt levels after the high-profile collapse of Carillion led investors and analysts to look for potential weaknesses in other large firms in the construc
  
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• British Gas owner challenges energy price cap

  21-12-2018 11:30
  Centrica applies for judicial review on how cap is calculated days before savings kick-in for 11m householdsBritish Gas owner Centrica has launched a legal challenge against the government’s energy price cap, just days before around 11m households are due to save money from the measure.The firm said it would apply for a judicial review of how energy regulator Ofgem had calculated wholesale costs under the cap. Continue reading...
  
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• Dow Jones drops 464 POINTS as US stocks head for WORST December since GREAT DEPRESSION

  21-12-2018 10:43 via feedproxy.google.com
  THE Dow Jones Industrial Average closed the trading day 464 points down as the US stock market continued to plummet towards its worst December since 1931.
  
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• Malaysia seeks $7.5bn damages from Goldman over 1MDB scandal

  21-12-2018 10:38
  Singapore also deepens criminal inquiry into suspected money-laundering claimMalaysia wants Goldman Sachs to pay $7.5bn (£5.9bn) in reparations over its dealings with the state development fund 1MDB, only days after the country lodged criminal charges against the Wall Street bank.The country’s finance minister, Lim Guan Eng, says the bank should cover the $6.5bn it helped raise for 1MDB through three bond sales that he says “were not used for national development but was siphon
  
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• Bitcoin price RISES: BTC breaks $4000 - Is Bitcoin rebounding?

  21-12-2018 10:28 via feedproxy.google.com
  BITCOIN has broken the $4,000 price barrier for the first time in two weeks after an end of year slump - but is the cryptocurrency rebounding?
  
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• Pound LIVE: GBP Sterling slips from 10-day high against US dollar after Fed rattles market

  21-12-2018 10:11 via feedproxy.google.com
  THE pound has edged lower from its 10-day high against the US dollar today, while Sterling remains largely unmoved against the euro.
  
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• Is 2019 the year you should finally quit Facebook? | Arwa Mahdawi

  21-12-2018 10:00
  Deleting your Facebook account isn’t a bad New Year resolution – the company has proven yet again it violated public trustPrepare yourself for an overwhelming sense of deja vu: another Facebook privacy “scandal” is upon us.A New York Times investigation has found that Facebook gave Netflix, Spotify and the Royal Bank of Canada (RBC) the ability to read, write and delete users’ private messages. The Times investigation, based on hundreds of pages of internal Facebook
  
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• Why did my Parcel2Go delivery take 17 days instead of three?

  21-12-2018 08:00
  A parcel was meant to arrive in China in a fewdays … but it took ages to even leave the countryI sent a parcel to China using Parcel2Go. I chose the DPD Drop Off International service which advertises a delivery time of three-plus working days, but when I tracked it, it was an estimated date 17 days after posting. Parcel2Go says this still counts as “on time”. AI, SheffieldThe service becomes less and less inviting the more you dig down through the website. The menu of service
  
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• Tech gift guide: 10 ideas for last-minute presents

  21-12-2018 08:00
  From Apple AirPods to Amazon tablets, here are suggestions for all budgetsStuck for a gift for Christmas with the clock steadily ticking on? Here are some tech suggestions for all range of budgets. Continue reading...
  
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• Homes for sale with big cellars – in pictures

  21-12-2018 08:00
  There’s plenty of space to stash your booze in these properties, from Wales to Wiltshire Continue reading...
  
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• Former Nissan chairman Carlos Ghosn re-arrested in Japan

  21-12-2018 07:12
  Media says Ghosn was re-arrested on suspicion of aggravated breach of trust and could face further period of detentionProsecutors in Japan have re-arrested Carlos Ghosn, possibly ending any hopes the former Nissan chairman had of an early release from detention over financial misconduct allegations. .Ghosn, who has been detained for more than a month, was re-arrested on Friday morning on suspicion of aggravated breach of trust and could face another 10 days in detention. Continue reading...
  
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