Financial news

• Swindon Honda workers march against factory closure

  30-03-2019 18:08 via theguardian.com
  Carmaker urged to reverse decision that will cost thousands of jobs
  Hundreds of workers have marched through Swindon in an attempt to save their jobs by convincing Honda to reverse its decision to close a car manufacturing plant in the town.The protesters, many of whom were joined by their families, were demonstrating against Honda’s plan to close the car plant in 2021, which will cost 3,500 workers their jobs. Continue reading...
  
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• The west is exporting austerity to Africa. It’s a disaster

  30-03-2019 17:00 via theguardian.com
  Now that the whole world feels poor and debt relief is out of fashion, some countries are left with big debts at high ratesAusterity is more than just a European response to the 2008 financial crash. It is the common response of indebted countries wherever they may be. And no more so than in Africa.Trapped in binding agreements for loans they can ill afford with international investors, most African countries have kept their heads down and trimmed their spending. Continue reading...
  
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• Pension payouts for top bosses tumble in face of investor ire

  30-03-2019 17:00 via theguardian.com
  Companies scale back contributions as threat of shareholder revolt forces rethinkStephen Hester, the chief executive of RSA, the London-based insurance group behind the More Than brand, was last year handed a total pay and benefits package of more than £4m. The 58-year-old received a basic salary of more than £1m, a bonus of £800,000 and a longer-term incentive payout of nearly £2.2m. He was given a car and driver, worth £64,000. And an extra £302,000 to help
  
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• More segregated playgrounds revealed: 'We just play in the carpark'

  30-03-2019 10:52 via theguardian.com
  A Guardian Cities investigation into a development that barred poorer children from a communal play area has found similar examples around the UK capital Have you experienced segregation in housing developments outside London? Let us knowSeveral other housing developments in London feature separate playgrounds for richer and poorer children, Guardian Cities can reveal.Politicians from across the political spectrum this week joined in denouncing developer Henley Homes after an investigation showe
  
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• Podcasting's Netflix moment: the global battle for domination

  30-03-2019 09:00 via theguardian.com
  With huge audience growth forecast, the race is on to lead podcast distribution Podcasting is experiencing a Netflix moment. Global hits – from the ground-breaking Serial to Up and Vanished, and TV crossovers such as Dirty John – and Spotify’s plan to spend up to $500m on leading producers have made podcasts a hot media property.Global monthly podcast listener figures are forecast to grow more than six-fold, from 287 million in 2016 to 1.85 billion in 2023, according to the Ovu
  
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• Ex-HSBC staff voice anger over bank’s pension clawback

  30-03-2019 08:30 via theguardian.com
  Groups says bank’s ‘grossly unfair’ policy is costing pensioners up to £2,500 a yearCampaigners battling one of the world’s biggest banks over the “grossly unfair” way it treats the pensions paid to some former workers are getting ready for a David and Goliath showdown next month.The practice is called “clawback” and it involves cutting an employee’s company pension on the grounds that they also receive the state pension. It allows empl
  
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• The pay of average workers is to be cut by nearly £400. Good

  30-03-2019 08:00 via theguardian.com
  Auto-enrolment into the government’s private pension scheme could cost lower earners 8% of their disposable incomeTake a close look at your pay packet next month. If you are on average pay for the UK (£29,000 a year) there’s a good chance it’ll be £30 less that you were expecting. You won’t be alone; about 10million workers in the UK will see these sorts of cuts in their pay. One estimate suggests that it will be equal to an 8% cut in the disposable income tha
  
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• Is it worth installing an electric shower?

  30-03-2019 08:00 via theguardian.com
  Our showers are expensive and often run out of hot water, so we’re thinking of replacing themEvery week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.We have two showers running off a hot water tank. We’re spending a fortune, and often run out of hot water. Would installing the latest electric showers be better? I’m told they no longer look ugly, or j
  
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• ‘I quit high pay in London, but I’m much happier in Newcastle’

  30-03-2019 08:00 via theguardian.com
  Lewis Roberts, 34, on switching career and city to work as a social worker in the north-east Name: Lewis Roberts
  Age: 34
  Income: £34,000
  Occupation: Social workerFive years ago I decided to change careers and become a social worker. I’d been working in healthcare regulation and I felt quite disconnected from the job. Something about social work appealed to me. I’d always been politically active and I wanted to tackle social justice issues. Continue reading...
  
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• Beware caller ID: it may not be your bank, it could be a fraudster

  30-03-2019 08:00 via theguardian.com
  £90,000 was stolen from a businesswoman when the real Metro Bank number flashed up on her phoneThe number ID flashes up on your phone identifying the call as coming from your bank. But beware – caller ID can be easily spoofed by fraudsters, as one Cambridge businesswoman found to her cost after crooks convinced her she was talking to her legitimate bank, and then emptied her account of £90,000.The businesswoman also accuses her bank, Metro, of lax security procedures that enabl
  
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• Baby on board? Here's how new parents can cut their costs

  30-03-2019 08:00 via theguardian.com
  Ten ways to save: from free first-class train upgrades and reusable nappies to parenting classesThere’s no escaping it: having a child is an expensive business, with surveys suggesting it costs the average couple £75,000 to raise someone to the age of 18. But there is a world of freebies and discounts available to help parents cut the costs and here we’ve rounded up 10 of the best. Continue reading...
  
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• Bookmakers prepare for store closures as FOBT stake is cut

  30-03-2019 07:00 via theguardian.com
  Industry hopes to push customers towards online gambling to offset lossesBookmakers are preparing to shut shops and push customers towards online gambling, as they brace for curbs on fixed-odds betting terminals (FOBTs) that take effect on Monday.The industry has repeatedly warned that reducing FOBT stakes from £100 to £2 – a move hailed by the culture secretary, Jeremy Wright, on Friday as a “significant step forward in protecting vulnerable people” – would t
  
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