Financial news

• JP Morgan CEO can't explain how one of his low-paid employees should budget her salary – video

  11-04-2019 21:31 via theguardian.com
  Democratic congresswoman Katie Porter grills JP Morgan’s billionaire CEO, Jamie Dimon, on the real-world consequences his bank’s low wages have had on a single mother’s life. Porter found that the woman, a Chase bank teller on a starting salary, was $567 short at the end of each month. Continue reading...
  
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• Exit of Virgin Trains leaves behind a muddle over pension liabilities | Nils Pratley

  11-04-2019 20:22 via theguardian.com
  Ministers should have been much clearer about who was on the hook for a £6bn deficitThe disappearance of Virgin Trains from the UK’s railways isn’t a cause for national mourning, however much Sir Richard Branson might wish otherwise. He had a very profitable run for a couple of decades.Yet the tale of how Stagecoach and Virgin were disqualified from three UK franchise competitions this week continues to intrigue, not least because the rail minister, Andrew Jones, gave shockingl
  
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• World Bank boss calls for more transparent lending to poor nations

  11-04-2019 19:11 via theguardian.com
  David Malpass tells China to come clean over its lending to indebted African countries The new head of the World Bank has told China that it needs to come clean about its lending to poor countries, as he warned that debt problems are once again on the increase.In his first public appearance as World Bank president, David Malpass said there were already 17 African countries at high risk of debt distress. Continue reading...
  
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• India rupee RISES against US dollar as country prepares to vote in Indian elections

  11-04-2019 17:01 via feedproxy.google.com
  INDIA has seen its rupee strengthen against the US dollar today, driven forward by sustained foreign fund inflows as the country takes to the polling stations for the Indian elections.
  
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• Property price MAPPED: Price of detached home SOARS – but where is best value?

  11-04-2019 16:31 via feedproxy.google.com
  THE average price of a detached property in the UK has soared over the last decade but there are areas across the country which are still better value for money than others.
  
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• Home insurance BOMBSHELL: Customers 'paying HUNDREDS of pounds more with loyalty PENALTY'

  11-04-2019 15:27 via feedproxy.google.com
  HOME INSURANCE customers who have been with the same provider for six years or more are being hit by a so-called “loyalty penalty”, according to Citizens Advice.
  
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• New energy suppliers face 'fit and proper' test after spate of failures

  11-04-2019 11:45 via theguardian.com
  Ofgem says firms applying for licence must show they have adequate funding for first yearSmall energy suppliers will have to undergo more stringent tests before they can set up shop in the UK under plans drawn up by the regulator after a spate of recent failures.Ofgem said on Thursday that companies applying for a licence will need to demonstrate they can adequately fund their operations for their first year, outline how they expect to comply with regulatory obligations and show their intentions
  
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• Molteni&C studio – in pictures

  11-04-2019 10:00 via theguardian.com
  From humble workshop beginnings in the 1930s, the high-end furniture maker has grown into a major enterpriseContinue reading...
  
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• Growth fears and trade tensions weigh on markets after IMF warning – business live

  11-04-2019 09:40 via theguardian.com
  Rolling coverage of the latest economic and financial news, as IMF urges politicians to help prevent the global economy weakeningIntroduction: Anxiety over global slowdown hits Asian stocksBusinesses welcome Brexit extensionFull story: Short-term growth policies risk new financial crisis 8.40am BST The pound is stubbornly refusing to welcome Britain’s latest Brexit extension.Sterling is unchanged at $1.309 against the US dollar, and down slightly against the euro at €1.159, after the
  
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• Why am I getting demands for £7,000 for a meter we don’t have?

  11-04-2019 08:00 via theguardian.com
  ScottishPower has sent the bills for eight years ... now it’s threatening bailiffsFor eight years my elderly mother has been receiving final demand letters for £7,000 and more from ScottishPower, despite never having been a customer. At first they were addressed to a name we didn’t recognise. My mother has lived at her property for over 40 years. We repeatedly explained to ScottishPower that my mother was, and always had been, a British Gas customer. Then the demands began to a
  
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• The most serious threat to emerging economies is a US recession | Barry Eichengreen

  11-04-2019 08:00 via theguardian.com
  Recent respite for China, on which other emerging markets are highly leveraged, could be short-livedSuddenly it seems that emerging-market economies have gained a respite. Capital flows to these economies dried up in the second half of last year as the US Federal Reserve raised its policy rate for five consecutive quarters and shrank its balance sheet. But in January, the Fed announced a pause, which now looks to be extended: the dot plots of Federal open market committee members currently indic
  
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• Queens of the kitchen: women hold power until the space becomes a business

  11-04-2019 08:00 via theguardian.com
  An incubator for female chefs of color is working to break the barriers women encounter in the restaurant industryMy mother is one of four sisters, and some of my most at-home memories take place in the kitchen with them. The sonic landscape of my aunts joking loudly in a pidgin mash-up of Chinese and English; the rounded scent of a fall-off-the-bone rack of ribs, a simmering pot of jook, a soy-sauce chicken. A conversation, a way to show affection, by way of a plate being passed back and forth.
  
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• UK house prices likely to keep falling for another six months

  11-04-2019 07:01 via theguardian.com
  Prices in south-east and London likely to fall for whole of 2019, industry survey findsHouse prices are likely to continue falling for another six months in the UK and for the whole of 2019 in London and the south-east, according to an industry survey.Separate official data shows that rents are also falling, with tenants typically paying £757 a month, down from £772 a year ago, continuing a pattern of declines that began after the Brexit vote in 2016. Continue reading...
  
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• McMeatless? Petition urges McDonald's to add vegetarian option

  11-04-2019 07:00 via theguardian.com
  More than 160,000 sign after Burger King introduces vegetarian ‘Impossible Whopper’More than 160,000 people are petitioning McDonald’s to add a vegetarian protein option to its menu across the US – just as it added the “McVegan” internationally.Although the petition does not specify which kind of veggie burger activists would like, it comes on the heels of an announcement from Burger King that the chain is testing a plant-based Impossible Burger patty for its
  
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• Starbucks spearheads £1m initiative to boost paper cup recycling

  11-04-2019 01:01 via theguardian.com
  Grants of up to £100,000 available to increase number of drop-off points and cut wasteA £1m fund to help expand and improve paper cup recycling facilities across the UK will be launched on Thursday by the coffee giant Starbucks and environmental charity Hubbub.Local authorities, recycling companies and social enterprises will be invited to bid for grants of up to £100,000 on behalf of their communities to create at least 10 large-scale recycling programmes. Continue reading...
  
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