Financial news

• Google shifted $23bn to tax haven Bermuda in 2017, filing shows

  03-01-2019 23:41 via theguardian.com
  Firm used Dutch shell company in move known as ‘double Irish, Dutch sandwich’ that cuts its foreign tax billGoogle moved €19.9bn ($22.7bn) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch chamber of commerce.The amount channelled through Google Netherlands Holdings BV was about €4bn more than in 2016, the documents, filed on 21 December, showed. Continue readi
  
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• Stocks under pressure after Apple downgrade shock – business live

  03-01-2019 13:13 via theguardian.com
  European markets fall following phonemaker’s warning of lower revenueApple’s shock profit warning sends European shares slidingApple stocks tumble after company cuts forecasts for key quarter 12.13pm GMT Just after midday, the European stock sell-off has accelerated in Germany and France.The Dax is down by 1.5% and the Cac 40 has lost 1.4%. 12.07pm GMT It’s a big anniversary today for the cryptocurrency world: bitcoin turns 10.The original distributed ledger currency has offere
  
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• No-deal Brexit would cause turbulence for farmers, says Gove

  03-01-2019 12:53 via theguardian.com
  Environment secretary says tariffs and labour pressures would add to producers’ costsThe environment secretary, Michael Gove, has said there would be considerable turbulence in sectors such as agriculture if the UK leaves the EU without a deal.He said the UK could flourish over time even without a deal, but “the turbulence which will be generated by our departure without a deal would be considerable. It would hit worst those who are our smaller farmers and farm businesses.” Con
  
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• Searching for scrap in Guatemala City – in pictures

  03-01-2019 11:35 via theguardian.com
  Workers known as guajeros descend daily to search for recyclable items at one of the biggest rubbish dumps in Guatemala City. Hundreds carry out the work which is dangerous due to mud slides and collapses, but can earn them nearly twice the minimum daily wage Continue reading...
  
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• Taste test: the best and worst vegan lunches on the high street

  03-01-2019 11:30 via theguardian.com
  Taking part in Veganuary or just trying to cut down on meat and dairy this year? Here are the best wraps, salads, sushi and moreFrom Spam Appreciation Week in March to June’s National Fudge Day and Sourdough September, every day of the year seems to have an (often baffling) link to a foodstuff. On the Guardian food desk, we take this with a pinch of salt – and not just on National Salt Awareness Week (from 29 February) – lest your year in recipes and food articles becomes subsu
  
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• Happy 10th birthday, bitcoin. It’s amazing you still exist | Tibor Fischer

  03-01-2019 11:00 via theguardian.com
  False prophets, a rogues’ gallery of blaggers, and fiendish technical complexity: the cryptocurrency has defied them allBitcoin, the Big Daddy of cryptocurrencies, which celebrates its 10th birthday today, rarely inspires temperate or informed debate.For its detractors – mostly elderly bankers and economists – it is tulip-mania, moonshine, hi-tech smoke and mirrors. For its most fanatical adherents – techies and latter-day hippies – bitcoin is not merely a viable cu
  
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• Next's Christmas saved by late splurge from shoppers

  03-01-2019 09:33 via theguardian.com
  Retailer reports sales growth but surge in costly web orders will hit annual profitsA spike in sales in the last three weeks of December helped save Christmas for the fashion chain Next but a surge in costly web orders will hit annual profits.The high street bellwether is among only a few retail chains that resist pre-Christmas discounting and it was expected to have suffered as struggling rivals slashed prices to attract shoppers as Brexit jitters weighed on consumer confidence. Continue readin
  
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• How can you tell if a mobile phone has good reception before you buy it?

  03-01-2019 09:00 via theguardian.com
  Paul lives in a signal black spot where his wife’s smartphone still works. Is there a way to find if phone has good reception?I have a Moto 3 smartphone and my wife has a similar earlier model. We are right on the edge of reception from EE. I can just get a very weak signal if I attach my phone to a selfie stick and lean out of a window, or walk up the bank behind the house. This is not ideal.Away from home, sometimes my wife’s phone can get a strong signal whereas mine can’t g
  
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• UK manufacturers facing biggest worker shortage in 30 years

  03-01-2019 07:01 via theguardian.com
  Brexit blamed as 81% of manufacturers and 70% of service sector firms report difficulties finding skilled staffBritain’s manufacturers are facing the biggest shortage of skilled workers since 1989 amid record levels of UK employment and falling numbers of EU27 nationals coming to the country to work since the Brexit vote.The British Chambers of Commerce (BCC) said more than four-fifths of manufacturers struggled to hire the right staff in the final months of 2018. Continue reading...
  
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• Falling dollar reflects global concern all is not well in the Australian economy | Stephen Koukoulas

  03-01-2019 03:52 via theguardian.com
  The rosy forecasts from the Reserve Bank for the economy are pipe dreams – investors know this and are selling Australian dollarsThe Australian dollar was hit hard overnight, Australian time, slumping below 70 US cents before a sharp and more extreme move saw it temporarily crash to a low of 67.40 US cents. It subsequently recovered marginally, but remains weak at around 69.40 US cents.Rather than focus on the micro aspects of minute-by-minute or hour-by-hour moves in the dollar, which can
  
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• UK trains 'are packed to near double capacity'

  03-01-2019 01:01 via theguardian.com
  Some major routes to be 208% over capacity by 2022, shows data compiled by LabourOvercrowding on trains is at the highest level for years, according to official data compiled by Labour showing some major routes are to be 208% of capacity by 2022.A study of government figures found the most overcrowded services were on average 187% of capacity in 2017, an increase of 25% since 2011. Continue reading...
  
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• UK power stations' electricity output lowest since 1994

  03-01-2019 01:01 via theguardian.com
  Energy efficiency and changing economy cut generation by 1% in 2018 as renewables supplied 33% of electricityThe output of British power stations fell this year to levels last seen almost a quarter of a century ago, while renewables achieved a record share of the UK electricity supply.Electricity generation in 2018 was the lowest since 1994, when Tony Blair became the leader of the Labour party. Continue reading...
  
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• Hammond 'can raise £7bn a year by scrapping tax breaks'

  03-01-2019 01:01 via theguardian.com
  Resolution Foundation urges chancellor to tighten wealth taxation to boost public sectorPhilip Hammond could raise an additional £7bn a year for the Treasury by scrapping tax breaks for the richest in society and tightening up existing wealth taxes, research from one of Britain’s leading thinktanks shows.In a report prepared ahead of the chancellor’s government spending review, which is due later this year, the Resolution Foundation said that the additional funds could be raise
  
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• 'Christmas from hell' caps bad year for high street DVD sellers

  03-01-2019 01:01 via theguardian.com
  Digital growth fuels £250m drop in physical sales of films, music, TV and gamesA “Christmas from hell” capped a disastrous year for high street sellers of DVDs and CDs, as the digital revolution fuelled a near-£250m decline in sales of physical copies of films, music, TV shows and video games in 2018.In the week leading up to Christmas, sales of DVDs were down more than 31%, Blu-ray discs plummeted by over 33% and music CD sales slumped by 29%, a festive nightmare that pu
  
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