Financial news

• It's not Brexit Britain most likely to have a recession. It's Germany

  08-01-2019 19:27 via theguardian.com
  If Europe’s biggest economy bumps into a slump then UK bargaining power may changeTake Europe’s three biggest economies and list them in order of the likelihood of being in recession in the second half of 2018. Chances are Brexit-bound Britain would come first followed by France after its gilets jaunes protests. Germany would come last.In fact, it is the eurozone’s locomotive economy that is at biggest risk of fulfilling the technical definition of recession – two consecu
  
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• A New Year but no new deal – Brexit Means podcast

  08-01-2019 17:54 via theguardian.com
  With Theresa May’s withdrawal agreement looking no closer to winning the support of MPs, what other possible scenarios lie ahead? Few seem to think the government can win next week’s Commons vote on the withdrawal agreement. So as the clock keeps ticking down to 29 March and the UK’s exit from the EU, what do the next few weeks have in store?What are the chances of a second referendum? Extending article 50? A ‘Norway-plus’ arrangement? Crashing out of Europe with no
  
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• Economy Energy collapse leaves 235,000 in the lurch

  08-01-2019 13:59 via theguardian.com
  Ofgem urges customers to take meter readings after ninth small UK supplier goes bust in a yearAn energy firm supplying electricity and gas to nearly a quarter of a million customers has collapsed, becoming the latest in a string of casualties in the sector.The energy regulator Ofgem confirmed on Tuesday that Economy Energy had ceased trading and urged its 235,000 customers to take meter readings and wait for a new supplier to be appointed. Continue reading...
  
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• UK house prices rise at fastest rate in almost two years, says Halifax

  08-01-2019 13:37 via theguardian.com
  Surprise increase after sluggish year comes despite uncertainty over BrexitUK house prices unexpectedly rose at the fastest monthly rate in almost two years in December, according to Halifax, despite warnings over the potential impact of Brexit for the year ahead.Halifax, one of Britain’s biggest mortgage lenders, said the average cost of a home rose by 2.2% compared with November. This outstripped all forecasts in a poll of economists by Reuters, in a surprise sign of strength for the eco
  
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• Solar panel users to be paid for excess power – but will need to wait

  08-01-2019 12:53 via theguardian.com
  People who install solar from April will have to give away surplus until scheme launchesHouseholds with solar panels are to get a guaranteed payment for excess electricity they export to the grid – but there will be a hiatus when people are expected to give it away for free.Energy minister Claire Perry said on Tuesday she would legislate for a new market that will make energy firms compete to offer solar homes the best price for any unused energy they export. Continue reading...
  
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• German recession fears grow after industrial output shrinks - business live

  08-01-2019 11:20 via theguardian.com
  All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in outputIntroduction: German industrial output slumped in November
  Biggest annual drop since the financial crisisAnalysts: Recession risks have increasedING: German economy still strong 10.20am GMT European stock markets are pushing higher this morning, despite the growing fears that Germany could be sliding into recession.All the main indices are in positive territory, although Frankfurt&rsq
  
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• Two-thirds of UK shoppers visited Aldi or Lidl over Christmas

  08-01-2019 10:44 via theguardian.com
  Major supermarkets lose market share in festive period amid Brexit spending squeezeTwo-thirds of UK households visited a discounter over Christmas, handing Aldi and Lidl their biggest ever slice of spending as political uncertainty prompted shoppers to keep a tight hold on their wallets.All the major supermarkets lost market share in the 12 weeks to 30 December as Aldi’s sales jumped 10.4%, according to the latest data from Kantar Worldpanel, and Lidl’s by 9.4%. This took their combi
  
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• Heathrow may add 25,000 flights a year before third runway

  08-01-2019 09:00 via theguardian.com
  Airport reveals plans as it launches a new consultation on its expansionAn extra 25,000 flights a year could come through Heathrow before the third runway is built, in plans revealed by the airport as it launched a fresh consultation over its airspace and operations.Planes could come in to land on both runways at the same time during busy periods, Heathrow has proposed, to help maximise its capacity ahead of expansion. Continue reading...
  
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• Virgin Trains forced me to buy a new ticket rather than change one

  08-01-2019 08:00 via theguardian.com
  I bought an advance ticket and was told I couldn’t alter it – even by paying a £10 feeI want to draw your attention to my problem with Virgin Trains. I bought an advance ticket to allow me to attend a rehearsal, the time of which was subsequently changed. As a result, I needed to change my ticket, accepting that I would pay the train firm’s £10 administration fee and that I would not receive any difference in the fare. But when I tried to do so, I was told I would h
  
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• 'I always acted with integrity', Carlos Ghosn tells court in first public appearance

  08-01-2019 04:12 via theguardian.com
  More than 1,000 people queue up at Tokyo court for chance to see former chairman respond to financial misconduct claimsCarlos Ghosn has proclaimed his innocence in his first public appearance since the former Nissan chairman was arrested in November for alleged financial misconduct.Dressed in a dark suit, but without a tie, Ghosn, who appeared to have lost weight during his 50 days in detention, told the Tokyo district court in a special hearing on Tuesday that he had been “wrongly accused
  
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• Snoozing on the job: Japanese firms tackle epidemic of sleeplessness

  08-01-2019 01:01 via theguardian.com
  Companies offer napping at work as lack of proper rest is estimated to cost economy $138bn a yearImagine working for an employer who, aware that you’re probably not sleeping enough at night, allows you to down tools and nap as part of your regular work duties – and not just forty winks at your desk, but a restorative snooze in a quiet room.These are some of the measures being used by a growing number of companies in Japan to counter an epidemic of sleeplessness that costs its economy
  
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• England needs 3m new social homes by 2040, says cross-party report

  08-01-2019 01:01 via theguardian.com
  Commission including Sayeeda Warsi and Ed Miliband has been researching ways to tackle housing crisis
  ‘Bounced from place to place’: the unsettled lives of housing crisis victims
  England must launch the biggest council and social house building drive in its history to rescue millions of people from a future in dangerous, overcrowded or unsuitable homes, a cross-party commission has told the government.More than 3m new social homes are needed in the next 20 years, more than were built
  
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