Financial news

• Pension scams: some victims have lost more than £1m to fraudsters

  28-01-2019 17:57 via theguardian.com
  As more over-55s are targeted, regulators say average amount swindled in 2017 was £91,000Some victims of pension scams have lost more than £1m to fraudsters, according to new figures, amid a surge in criminal activity targeting the savings of over-55s.While the average amount swindled out of pension scam victims was £91,000, some people had lost seven-figure retirement nest eggs, said police and regulators. Continue reading...
  
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• Venezuela CRISIS: Oil 'TICKING TIME BOMB' set to detonate with rapid 'PRICE REACTION'

  28-01-2019 17:40 via feedproxy.google.com
  VENEZUELA could spark an oil “price reaction” as political turmoil continues to grip the crisis-hit South American nation, according to an analyst.
  
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• The 100% mortgage is back – is it worth the risk?

  28-01-2019 17:20 via theguardian.com
  A new mortgage from Lloyds Bank lets first-time buyers borrow the entire cost of their new home. But this isn’t a return to the pre-financial crash lending frenzyIt is a 100% mortgage but not, thank goodness, as we once knew them. Lloyds Bank’s new Lend a Hand mortgage offers first-time buyers the chance to borrow the entire price of their new home – but with the considerable caveat that a relative has to have a lump sum worth 10% that they are willing to tie up for three years
  
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• Eurozone WARNING: Mario Draghi ADMITS euro area economy 'WEAKER than expected'

  28-01-2019 16:53 via feedproxy.google.com
  MARIO DRAGHI, European Central Bank president, has admitted the eurozone economy has continued to perform weaker than expected as he blamed global uncertainty for dragging down growth.
  
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• Pension scam ALERT: Victims losing up to £1million EACH to callous fraudsters

  28-01-2019 16:42 via feedproxy.google.com
  THE scale of pension scams have been laid bare with some victims losing more than £1million in savings each to callous fraudsters, new research has revealed.
  
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• No-deal Brexit would mean shortages and price rises, say retailers

  28-01-2019 15:51 via theguardian.com
  Bosses of Sainsbury’s, Asda, M&S, Co-op and Waitrose write letter to governmentLeading retail bosses, including the chief executives of Sainsbury’s, Asda, Marks & Spencer, the Co-op and Waitrose, have written to the government warning of significant disruption to food supplies in the event of a no-deal Brexit.The letter, from the British Retail Consortium, also warns that grocery prices are likely to rise, as nearly a third of the food eaten in Britain comes from the EU and w
  
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• Tesco CONFIRMS 9,000 jobs AT RISK as restructure sees meat, fish, deli counters SHUT DOWN

  28-01-2019 15:43 via feedproxy.google.com
  TESCO has confirmed up to 9,000 jobs are at risk as part of a massive overhaul that will see around 90 stores close their meat, fish and delicatessen counters.
  
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• Tesco confirms 9,000 jobs at risk as it axes fresh food counters

  28-01-2019 15:38 via theguardian.com
  Supermarket says it hopes to redeploy up to half of staff affected by cost-cuttingTesco has confirmed that up to 9,000 jobs are at risk as it closes fresh food counters in about 90 of its stores, as well as some staff canteens, and makes cuts at its head office.The retailer, which has more than 300,000 UK employees and more than 3,400 stores, said it hoped to redeploy up to half of the staff affected into other customer service roles. Continue reading...
  
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• Labour report urges investment to revive struggling regions

  28-01-2019 15:06 via theguardian.com
  North-east and Wales should get more than double funding per head than that of London, says studyA future Labour government should use funds from a national investment bank, targeted transport spending and buying British as part of a long-term strategy to spread economic prosperity to the struggling regions, a specially commissioned report for the party has said.The report called for funding from the national investment bank – a key plank of the opposition’s economic strategy to be h
  
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• Property news: Bank offers first-time buyers 100 PERCENT mortgage – but there’s a catch

  28-01-2019 13:20 via feedproxy.google.com
  FIRST-TIME buyers will be able to get their foot on the property ladder with no deposit thanks to a new 100 percent mortgage deal from Lloyds Bank – but they will need a helping hand from the Bank of Mum and Dad.
  
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• Pound euro exchange rate: GBP slides against EUR as investors take profits

  28-01-2019 13:15 via feedproxy.google.com
  THE pound has slipped against the euro as Brexit anxieties take hold and is currently trading at around €1.153.
  
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• Pound US dollar exchange rate: GBP drops despite Boris 'freedom clause' Brexit optimism

  28-01-2019 13:11 via feedproxy.google.com
  THE pound is down against the US dollar today but still remains close to a three-month high and is currently trading at around $1.316.
  
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• European shares drift lower ahead of key US-China trade talks – business live

  28-01-2019 13:09 via theguardian.com
  Chinese vice premier Liu He heads to Washington this week and Fed is expected to hold rates steadyPound falls ahead of Brexit vote12.09pm GMT Amundi, Europe’s largest fund manager with €1.45 trillion of assets under management, believes that the world economy can avoid a recession.No global recession in store: An excess of pessimism naturally results in a decline in the financial markets and renewed volatility. Based on our calculations, market participants priced in twice the slowdow
  
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• Bitcoin BOOST: New blockbuster series Cryptos to shine Hollywood light on BTC

  28-01-2019 13:00 via feedproxy.google.com
  BITCOIN'S march towards mass adoption is about to receive a major boost from Hollywood.
  
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• Nissan 'facing probe by US regulators over executive pay disclosures'

  28-01-2019 11:58 via feedproxy.google.com
  NISSAN is being investigated by US regulators over executive pay disclosures.
  
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• Nissan investigated by SEC after Carlos Ghosn charges in Japan

  28-01-2019 11:28 via theguardian.com
  Carmaker ‘cooperating fully’ with inquiry into whether it accurately reported executive payNissan confirmed on Monday it was being investigated by the US Securities and Exchange Commission (SEC), undermining its efforts to move on from the arrest of former leader Carlos Ghosn.Ghosn was arrested in November by Japanese authorities after Nissan reported him for allegedly under-declaring his income by millions of yen. Continue reading...
  
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• European shares open lower ahead of key US-China trade talks – business live

  28-01-2019 11:18 via theguardian.com
  Chinese vice premier Liu He heads to Washington this week; Brexit debate and Fed also in focus 10.18am GMT The FTSE 100 index briefly ventured into positive territory before slipping back into the red and is now down 0.01% at 6860.19. Traders are waiting for the latest round of trade talks between Beijing and Washington, due to start on Wednesday, and the outcome of the Fed’s monthly policy meeting on the same day. 9.09am GMT Most of the UK’s most popular cars are at risk of theft us
  
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• Bitcoin to find NEW bottom? Traders’ optimistic DESPITE new BTC price plunge

  28-01-2019 11:15 via feedproxy.google.com
  BITCOIN has slumped to a new low in value. Yet some traders remain upbeat despite BTC’s bearish price action.
  
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• Philip Green ends 'gagging order' legal action against Telegraph

  28-01-2019 10:49 via theguardian.com
  Judges had banned newspaper from identifying tycoon in relation to harassment claimsSir Philip Green and his business empire, Arcadia, have ended their legal claim against the Telegraph after the newspaper reported allegations of sexual and racial harassment against him.Judges at the court of appeal temporarily barred the newspaper from identifying the Topshop tycoon or revealing “confidential information” relating to allegations of misconduct made by five employees. Continue reading
  
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• Pound LIVE: GBP drifting lower against euro and US dollar ahead of Brexit debate

  28-01-2019 10:22 via feedproxy.google.com
  THE pound is drifting lower against the euro and US dollar this morning as Prime Minister Theresa May gears up for another Brexit showdown over her European Union withdrawal agenda.
  
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• Most of UK's top-selling keyless cars at risk of theft, says Which?

  28-01-2019 09:35 via theguardian.com
  Ford Fiesta, VW Golf, Nissan Qashqai and Ford Focus among those vulnerable, report findsMost of the UK’s most popular cars are at risk of theft using technology that exploits keyless entry, according to a report.The Ford Fiesta, Volkswagen Golf, Nissan Qashqai and Ford Focus – four of the top five models sold in the UK – are among the cars that are susceptible to theft using “cheap electronic equipment bought online”, the consumer group Which? said. Continue reading
  
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• UK corporation tax cut to cost billions more than thought

  28-01-2019 09:00 via theguardian.com
  New HMRC forecast means 2% cut in rate to 17% will now cost Treasury £6.2bn in lost revenueThe government’s planned cuts to corporation tax look set to cost the public purse billions more in lost revenue than previously thought, according to new analysis.The tax rate on company profits is slated to be cut from its current level of 19% to just 17% by the end of the decade. But even before the planned cuts, the UK already had one of the lowest corporation tax rates in the developed wor
  
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• European shares to open lower ahead of key US-China trade talks – business live

  28-01-2019 08:54 via theguardian.com
  Chinese vice premier Liu He heads to Washington this week; Brexit debate and Fed also in focus 7.45am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.The latest round of trade talks between the US and China begins in Washington this week, where a delegation led by Chinese vice premier Liu He is due to arrive on Wednesday. Related: End of shutdown: White House denies Donald Trump 'caved' to Democrats A lot of this still
  
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• Would we pay higher stamp duty if we marry before buying together?

  28-01-2019 08:00 via theguardian.com
  We would be tenants in common on the joint property
  Q Please can you advise me whether my partner and I should wait until we marry to buy a new home together or not. I own three rental properties and would probably need to sell my current home to buy with my partner. I am unsure if we would be liable for the extra stamp duty on the purchase if we marry before buying, or if I alone would pay on 50% of the purchase if we are tenants in common. VFA How you jointly own property – whether as te
  
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• Seller beware! A new eBay scam using its own return label

  28-01-2019 08:00 via theguardian.com
  We’ve lost the item and our money, but the auction site won’t do anything to stop itMy wife and others have recently fallen victim to an eBay scam. In December she sold my iPhone 7 Plus for £345. The buyer paid via PayPal and requested the item be delivered to their local Argos, as eBay facilitates that. A week later, the buyer said he wanted to return the phone as he couldn’t activate it. We knew this couldn’t be the case, but felt we had no choice but to start the
  
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• Morrisons to trial paper bags for groceries and higher price for plastic bags

  28-01-2019 07:01 via theguardian.com
  The supermarket is increasing the cost of its standard plastic bags up to 15p from 10pMorrisons is to trial the launch of large paper bags for groceries at supermarket check-outs and is raising the price of its plastic bags by 50%.The supermarket will now charge 15p instead of 10p for its cheapest standard plastic bag, while testing out US-style paper grocery bags with handles costing 20p. Continue reading...
  
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• Lloyds unveils 100% mortgage for first-time buyers

  28-01-2019 07:01 via theguardian.com
  Purchasers need no deposit if family can back the loan by moving 10% of price into bank’s saver accountBritain’s biggest lender is to offer 100% mortgages to first-time buyers in a return to lending last seen before the financial crash – but only if the buyer has family that can stand behind the loan.Under the new Lloyds Bank “Lend A Hand” deal, a first-time buyer will be able to borrow up to £500,000 for a new home, without putting down a penny of deposit. Co
  
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• No-deal Brexit: UK firms 'praying' for article 50 extension, says KPMG

  28-01-2019 01:01 via theguardian.com
  CBI says business is ‘stuck in neutral’ with low confidence and diverted investment hurting firmsBritish firms are “praying for an extension to article 50” rather than face a no-deal Brexit as it emerged that foreign investment has fallen steeply and the outlook for growth has slumped to a six-year low.The Confederation of British Industry said that firms’ reported growth prospects were at their weakest for almost six years, while other research shows the number of
  
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