Financial news

• Would Alexandria Ocasio-Cortez’s 70% tax proposal work in UK?

  07-01-2019 21:19 via theguardian.com
  Newly elected Democratic congresswoman has floated idea of wealth tax in the USAlexandria Ocasio-Cortez, the newly elected Democratic congresswoman, has floated the idea of US income tax rates as high as 70%. Although only an idea for now, her intervention raises questions over whether such a policy might work in another country with sharp economic divisions: the UK.Her proposal would apply to income above $10m (£7.8m) a year. Ocasio-Cortez argued that the wealthiest Americans needed to pa
  
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• European stocks PLUMMET as investors become 'cautious' - 'It's struggling for direction!'

  07-01-2019 20:44 via feedproxy.google.com
  EUROPEAN stocks are “mostly lower” with Italy being the only region to display a "positive" outlook, leaving investors in “wait and see mode”, warned CNBC’s Julianna Tatelbaum.
  
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• Car sales chuff along even as Brexit doom dents big-ticket spending | Larry Elliott

  07-01-2019 20:30 via theguardian.com
  Scandal over diesel emissions is a bigger factor in explaining last year’s sales dipSpare a thought for the car dealer waiting for the next customer to wander into a showroom choc-a-bloc with gleaming unsold saloons. Car sales last year were well down on 2017 – falling by almost 7% . Contrary to some of the more lurid headlines, though, this is not an economic cataclysm. Related: Diesel decline and Brexit uncertainty push down UK car salesContinue reading...
  
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• Barclays threatened with boardroom shake-up as investor calls for vote

  07-01-2019 20:25 via theguardian.com
  Edward Bramson says more resources should be funnelled towards consumer operations Barclays is being threatened with a boardroom shake-up after an activist investor announced plans for a shareholder vote on the bank’s leadership.Edward Bramson, who has spent about £900m building a 5.5% stake in Barclays through his investment vehicle Sherborne Investors, told his own shareholders that a vote was necessary, given that “consistent engagement” with Barclays had failed to yie
  
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• Brexit to slash farmland prices by up to a fifth, forecasts say

  07-01-2019 19:27 via theguardian.com
  Decades-long boom in agricultural land prices will cease as EU subsidies are axedBrexit will slice nearly one-fifth off the value of Britain’s commercial farms according to forecasters, bringing to an end the decades-long boom in agricultural land prices as EU subsidies are withdrawn.Property experts Savills said farmland was likely to be the worst-hit sector in the entire UK residential and commercial property sector – faring even worse than shuttered high street shops – as co
  
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• No-deal Brexit rehearsal in Kent 'a waste of time'

  07-01-2019 19:21 via theguardian.com
  Only 89 trucks take part in trial of emergency traffic system designed to cope with 6,000 vehicles A live rehearsal of an emergency traffic system that will be put in place to prevent congestion in Dover in the event of a no-deal Brexit has been described as “a waste of time” by drivers participating in the test in Kent on Monday.The Road Haulage Association said the dry run of a contingency traffic plan for the port was “too little, too late”. Continue reading...
  
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• Bitcoin price: Cryptocurrency expert reveals why he thinks bitcoin will RALLY this year

  07-01-2019 19:04 via feedproxy.google.com
  BITCOIN price has plunged more than 70 percent over the past 12 months but cryptocurrency expert Iqbal Gandham has revealed why he thinks bitcoin will rally in 2019.
  
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• Britain is crippled by record personal debt while the Tories boast of a boom | Maya Goodfellow

  07-01-2019 17:46 via theguardian.com
  UK households are taking on more debt than ever to make ends meet. In this climate, rising employment figures mean nothingWith a government torn apart by Brexit and a country falling to pieces because of that government, Conservative MPs have a fallback they sometimes like to use as proof of their success: the UK has record employment levels. It’s a proud badge of honour they wear, fetishising work – it doesn’t matter what that work looks like or how much it pays – becaus
  
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• Jim Yong Kim resigns as World Bank president

  07-01-2019 17:34 via theguardian.com
  International aid community shocked by decision to quit three years early and join private sectorJim Yong Kim has announced he is stepping down as the head of the World Bank, in a move that sent shockwaves through the international aid community.He will leave by 1 February, three and a half years before the expiry of his term in 2022. Continue reading...
  
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• Bitcoin price news: Why is BTC rising? Bitcoin hits $4k again - will BTC recover?

  07-01-2019 15:33 via feedproxy.google.com
  BITCOIN has begun 2019 with a bang after surpassing the psychological $4,000 mark for the first time in weeks. So what is the reason for bitcoin’s recovery?
  
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• Brexit BOOST: Expert claims despite uncertainty UK companies look APPEALING

  07-01-2019 15:20 via feedproxy.google.com
  CHIEF Investment Officer Dan Kemp has insisted that regardless of the outcome of Brexit UK businesses will still remain “pretty good value” for the long term.
  
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• Dutch eco initiative halves energy bills in first UK homes

  07-01-2019 15:00 via theguardian.com
  Nottingham pioneers ‘Energiesprong’ after it wins £5m funding from EUA Dutch approach to transforming old homes through a dramatic green makeover has arrived in the UK and cut tenants’ energy bills in half.Nottingham has become the first city council to pioneer the “Energiesprong” (energy leap) initiative, which has radically upgraded the energy efficiency of thousands of homes in the Netherlands. Continue reading...
  
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• Brompton stockpiles £1m of bike parts in case of hard Brexit

  07-01-2019 13:28 via theguardian.com
  Firm says preparations for import delays are key part of ‘shit hits the fan planning’Brompton Bicycle has built up a £1m stockpile of bike parts including wheel rims, spokes and steel, to guarantee supplies for its west London factory in case of a hard Brexit.The foldable bike maker, which increased sales by 11% to £36.1m in the year to March 2018, has rented a warehouse near Heathrow to store an extra month’s worth of supplies in case imports of key items are held
  
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• CAR REPAIR accelerates after long wait for special parts

  07-01-2019 13:00 via feedproxy.google.com
  All has come right for a couple back on course after a bump to their car and repairs that took longer than they expected.
  
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• Pound euro exchange rate: GBP rallies on back of better-than-expected eurozone figures

  07-01-2019 12:28 via feedproxy.google.com
  THIS morning the pound fell against the euro after some positive data was released from the Eurozone, and is currently trading at a rate of €1.112. The release of the German retail sales figures for November showed a better-than-expected 1.1 percent increase from the previous year, despite forecasts suggesting it would fall.
  
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• US dollar exchange rate drops for third day as experts fear economy losing momentum

  07-01-2019 12:14 via feedproxy.google.com
  The dollar fell for a third consecutive day against its rivals on Monday on growing bets the US central bank will press the pause button on its rate hike cycle in the coming months. Notwithstanding strong monthly US jobs data for December last week, market watchers believe the world's biggest economy is losing momentum with Federal Reserve chairman Jerome Powell's comments adding to expectations the central bank may adopt a more cautious outlook.
  
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• How will central bankers cope when the next recession comes?

  07-01-2019 11:46 via theguardian.com
  Policymakers who think fiscal policy alone is enough are setting themselves up for a shockIf you ask most central bankers around the world what their plan is for dealing with the next normal-size recession, you would be surprised how many (at least in advanced economies) say “fiscal policy”. Given the high odds of a recession over the next two years – about 40% in the US, for example – monetary policymakers who think fiscal policy alone will save the day are setting thems
  
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• Dunelm's festive sales rise as unicorn-themed products prove popular

  07-01-2019 11:26 via theguardian.com
  Home furnishings group upgrades profit forecast as web-based sales growShares in home furnishings group Dunelm surged after it upgraded its profit expectations, thanks to a better-than-expected rise in sales likely to go against the grim trend for retailers’ Christmas trading figures.Sales in its core Dunelm brand increased by nearly 10% to £304m in the 13 weeksto 29 December, boosted by a slicker online operation and the popularity of unicorn-themed goods, from bedding to rocking ho
  
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• Pound US dollar exchange rate: GBP stabilises as Fed says it will be ‘patient’

  07-01-2019 10:47 via feedproxy.google.com
  THE pound US dollar exchange rate is currently trading at $1.273, virtually unchanged this morning after shooting up roughly a cent on Friday. The pound appears to be consolidating its gains against the US dollar this morning after the pairing roared higher at the end of last week.
  
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• Diesel decline and Brexit uncertainty push down UK car sales

  07-01-2019 10:33 via theguardian.com
  SMMT warns of ‘existential threat’ to industry if Britain leaves the EU with no deal Car sales in the UK declined by almost 7% in 2018, with consumer confidence declining ahead of Brexit and drivers increasingly unwilling to purchase new diesel models.The total number of vehicles sold in the UK was 2.37 million, the lowest figure for five years and fewer than the annual total for 2007, before the financial crisis hit. Continue reading...
  
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• Bitcoin ethereum CLASH: War of words ERUPTS between cryptocurrency big hitters

  07-01-2019 10:01 via feedproxy.google.com
  A BITTER war of words has broken out between some of the cryptocurrency world’s biggest names as they begin the new year trading insults.
  
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• TV licence scammers caught out by dodgy spelling

  07-01-2019 08:00 via theguardian.com
  Phishing email contains slip-up spotted by eagle-eyed recipientI received an email out of the blue from TV Licensing at the end of December, claiming our licence was due to expire – on the same day – and telling us to “renew now, quickly and easily online”. A red warning box then stated: “We’re sorry to let you know that the TV license [sic] could not be automatically renewed. Something’s gone wrong with your payments. Your bank has declined the latest d
  
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