Financial news

• Superdry: Julian Dunkerton wins battle to rejoin firm – and entire board resigns

  02-04-2019 20:33 via theguardian.com
  Victory for fashion chain co-founder’s six-month campaign to be reinstated precipitates massive boardroom bust-up• Superdry co-founder’s return is high risk – but is he worth a chance?Superdry co-founder Julian Dunkerton has won his battle to rejoin the struggling fashion retailer, prompting the company’s entire board to resign in protest at his return.Dunkerton, the company’s biggest shareholder, has waged a six month campaign to be reinstated after an unsucce
  
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• London's Tulip skyscraper given planning permission

  02-04-2019 20:28 via theguardian.com
  Plans for the 305-metre tower approved 18-7 by City of London CorporationA controversial new London skyscraper dubbed “the Tulip” has been given planning approval, paving the way for the construction of the second tallest building in Western Europe after the Shard.Designed by Foster + Partners, the 305-metre tower in the City of London will feature a viewing platform with rotating pods, a restaurant and a sky bar, and is expected to attract 1.2 million visitors a year. Continue readi
  
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• Late 'grand dame' of Aldi clan sparks family feud with her will

  02-04-2019 19:41 via theguardian.com
  Cäcilie Albrecht excludes late son’s wife and children from future roles in the companyThe late wife of one of the founders of the discount supermarket chain Aldi has plunged the family into a bitter row after declaring in her will that her grandchildren and their mother are excluded from future business decisions.Cäcilie Albrecht, known as the grande dame of the Aldi clan, vented her anger towards the five offspring of her late son, as well as his widow, Babette, accusing them o
  
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• Paddy Power and Betfred may face watchdog sanctions

  02-04-2019 19:34 via theguardian.com
  Bookmakers were accused of trying to cheat rules curbing fixed-odds betting terminals with high-stakes games Paddy Power and Betfred could face sanctions from the Gambling Commission after being told to remove new roulette-style games similar to those on fixed-odds betting terminals (FOBTs).The bookmakers were accused of trying to cheat new regulations that cut the maximum stake on FOBTs from £100 to £2 after launching the games on Monday, the same day restrictions on FOBT roulette c
  
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• IMF chief warns of slower growth for most countries worldwide

  02-04-2019 18:50 via theguardian.com
  Christine Lagarde says world economy ‘unsettled’ as fund poised to downgrade forecastThe head of the International Monetary Fund has warned that the majority of countries around the world can expect slower growth in 2019 as the global economy loses momentum.Christine Lagarde said rising trade tensions, concerns over Brexit and tougher financial conditions as central banks raised interest rates had “increasingly unsettled” the world economy over recent months. Continue rea
  
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• ISA deadline 2019: What day and TIME is cut off? The best rates REVEALED before deadline

  02-04-2019 18:29 via feedproxy.google.com
  THE ISA allowance rates will soon be cut off as the new tax year commence. So what day and time is cut off and what are the best rates?
  
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• 'Toxic relationship' at HP days before buying Autonomy

  02-04-2019 18:11 via theguardian.com
  Court hears of row between top two executives as chief pushed ahead with £8bn dealA row between Hewlett Packard executives broke out just days before it announced its £8bn takeover of British software group Autonomy in 2011, with its finance chief accusing the chief executive of “corrupting the company”, a court heard on Tuesday.Defence lawyer Robert Miles QC presented evidence of an increasingly toxic relationship between the top two executives at HP as its new chief exe
  
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• New tax changes 2019: All the tax changes to expect on April 6

  02-04-2019 18:05 via feedproxy.google.com
  THE 2018/19 tax year will come to an end this week as the new commences on April 6. Here are all the new tax changes to expect this Saturday.
  
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• New tax year 2019: When does new tax year start and end in 2019/20?

  02-04-2019 16:37 via feedproxy.google.com
  THE TAX YEAR, unlike the calendar year, starts in April which means this month we will enter a new financial year. If you are self-employed you will need to submit your self-assessments before the tax year is out. This is when the 2019/20 tax year starts and ends
  
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• ISA deadline 2019: Savers warned to carefully consider 'HIGH-RISK' ISAs before investing

  02-04-2019 16:32 via feedproxy.google.com
  ISA savers have been urged by the Financial Conduct Authority to “carefully consider” an innovative finance ISA before investing into one.
  
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• Universal Credit: New service offers millions of people help when applying for new benefit

  02-04-2019 16:23 via feedproxy.google.com
  MILLIONS of people looking to apply for Universal Credit are being offered help when applying for the new benefit.
  
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• Easter 2019 payments: When are DWP payments due over Easter?

  02-04-2019 16:12 via feedproxy.google.com
  EASTER 2019 will see a chain of bank holidays, which may mean some people see their government payments arrive at a different date. Here are the dates when the DWP is due to pay for Easter.
  
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• Global RECESSION warning: US and China risk PLUNGING global economy into CRISIS – Moody's

  02-04-2019 15:43 via feedproxy.google.com
  THE United States and China risk plunging the global economy into a recession if the nations cannot agree a trade deal with three months, according to a senior analyst at Moody’s.
  
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• Jobs at risk at fashion chain Bonmarché as billionaire buys control

  02-04-2019 15:11 via theguardian.com
  Edinburgh Woollen Mill owner Philip Day warns of significant job losses at struggling retailerPhilip Day has warned of significant job losses at Bonmarché as the Edinburgh Woollen Mill owner bought out the private equity backer Sun Capital to take control of the struggling fashion chain.On Tuesday, Day’s Dubai-based acquisition vehicle Spectre revealed it had paid £3m for 52.4% of Bonmarché’s shares at 11.445p each and offered to buy out remaining shareholders at
  
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• Euro WARNING: No-deal Brexit 'could WEAKEN already fragile eurozone economy'

  02-04-2019 14:40 via feedproxy.google.com
  A NO-DEAL Brexit could spark a further slowdown in growth across the eurozone in an already fragile economy, the second-in-command of the European Central Bank has warned.
  
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• Virgin Atlantic to diversify icons after 35 years of Varga Girl

  02-04-2019 14:23 via theguardian.com
  Airline to unveil five new characters to reflect aims of better diversity and gender balance Virgin Atlantic is to replace the traditional flying woman painted on its planes with new figureheads including a black man, an Asian woman and a gay man in rainbow lycra.The airline will ditch the Varga Girl that has adorned its fleet for the last 35 years in favour of a more diverse set of icons. Continue reading...
  
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• Global music revenues grow at fastest rate in more than two decades

  02-04-2019 14:00 via theguardian.com
  Sales of CDs continue to fall as fans turn to Spotify, Apple Music and Amazon MusicGlobal music revenues grew at the fastest rate in more than two decades last year, as the streaming revolution more than made up for the plummeting popularity of CDs.Worldwide recorded music revenues surged 9.7% to $19.1bn (£14.6bn) in 2018, the fastest rate of growth since at least 1997 when the Oasis album Be Here Now topped the UK albums chart. It is the highest level of income earned by the music industr
  
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• Bitcoin price SURGES: BTC jumps 20 PERCENT to surpass $5,000 mark

  02-04-2019 11:58 via feedproxy.google.com
  BITCOIN briefly touched $5,000 today, surging to its highest level since late November and biggest one-day gain in almost a year.
  
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• Pound LIVE: GBP Sterling DROPS against euro – EU 'is READY for no deal exit' says Barnier

  02-04-2019 10:13 via feedproxy.google.com
  THE pound is trading lower against the euro and US dollar this morning after taking a knock Monday evening after MPs yet again failed to agree on alternatives to Theresa May’s Brexit deal.
  
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• Big tech has too much monopoly power – it's right to take it on | Kenneth Rogoff

  02-04-2019 08:59 via theguardian.com
  Presidential candidate Elizabeth Warren has accused technology giants of competing unfairlyDisplaying a degree of courage and clarity that is difficult to overstate, US senator and presidential candidate Elizabeth Warren has taken on big tech, including Facebook, Google, Amazon and Apple. Warren’s proposals amount to a total rethink of the United States’ exceptionally permissive merger and acquisition policy over the past four decades. Indeed, big tech is only the poster child for a
  
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• Eurostar charged me a fortune to change my tickets by one week

  02-04-2019 08:00 via theguardian.com
  My friend and I wanted to spend our 80th birthdays in Paris with a day out at Roland GarrosFor our 80th birthdays this year, my friend I decided to do Paris for a few days and also take in a day at the Roland-Garros stadium for the French Open tennis. I booked us on to a Eurostar train on 21 May, returning on 24 May. But 24 hours later I realised the tournament opened for qualifying on 20 May, but the real tournament began on 27 May, so had to change the tickets by a week. My original tickets co
  
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• The FCA’s supervision of LC&F is finally being investigated. About time too

  02-04-2019 01:01 via theguardian.com
  Even within a muddled system, shouldn’t the City watchdog have woken up to the collapsed bond firm’s woes earlier?The London Capital & Finance scandal, in which the now infamous investment firm collapsed owing £236m to 11,000 people, may be one of the worst regulatory failures on the watch of the Financial Conduct Authority, the body established in 2013 to do better than its derided predecessor. Now an independent investigation will be launched. About time too.The first hal
  
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• Big four accountancy firms should break up, say MPs

  02-04-2019 01:01 via theguardian.com
  KPMG, Deloitte, PwC and EY ‘stranglehold’ contributing to corporate failures, report saysBritain’s big four accountancy firms should face a full break-up to weaken their “stranglehold” on an audit market discredited by corporate failures including Carillion and BHS, MPs have suggested in a hard-hitting report.The business, energy and industrial strategy (Beis) committee said the competition watchdog – which is due to release its final recommendations for refor
  
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