Financial news

• Bank of England begins climate enforcement with a velvet glove | Larry Elliott

  15-04-2019 21:52 via theguardian.com
  Given that it has the clout to force companies to comply, this looks like a promising startWe can already hear the distant thunder of climate change and must not wait for the storm to hit. The Extinction Rebellion protesters that blocked London traffic? No, a senior Bank of England official telling banks and insurers that from now on they will be expected to make global warming central to the way they operate.Threadneedle Street would never publicly endorse action that causes disruption but the
  
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• Longer working hours do not mean higher profits, say economists

  15-04-2019 20:30 via theguardian.com
  Overwork can have business costs and is the main reason for workplace sickness in the UKIn the backlash against the “996” working schedule, China’s tech workers say their bosses have lost valuable productivity gains that could have been generated with a shorter working week and fewer hours. Related: Working 9 to 9: Chinese tech workers push back against long hoursContinue reading...
  
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• Goldman Sachs cuts bankers’ bonus pot by 20% as profits fall

  15-04-2019 20:05 via theguardian.com
  Firm announces $798m reduction in amount set aside for benefits and salaries Goldman Sachs has slashed 20% from the cash it sets aside to pay bankers’ bonuses after reporting lower profits in the first three months of the year.The Wall Street firm said it was cutting its salaries and benefits pot by $798m (£609m) to $3.3bn, a move that will hit executives, senior managers and lower-level staff. Continue reading...
  
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• Customer loses out in House of Fraser administration muddle

  15-04-2019 19:31 via feedproxy.google.com
  The collapse of department store House of Fraser into administration and its subsequent sale to Sports Direct left a customer without either the goods which she returned or her expected refund.
  
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• DRYROBE: Screen stars give warm welcome to wrap taking the chill out of changing outdoors

  15-04-2019 19:15 via feedproxy.google.com
  Outdoor kit maker dryrobe, whose ultra warm cover up is a staple for shivering surfers, is seeing sales top £2 million a year as orders flow in from film and TV companies keen to keep their talent toasty between takes.
  
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• ONS harnesses big data in effort to quickly spot economic trends

  15-04-2019 17:41 via theguardian.com
  Novel ways of monitoring the UK economy include counting the number of trucks on roadsGovernment statisticians are trying to harness the power of big data technology, monitoring the number of lorries on roads and company VAT receipts, in an attempt to more rapidly spot changes taking place in the UK economy.The Office for National Statistics (ONS) believes rapid advances in technology, including around big data, machine learning and online activity, could enable economists to update their tradit
  
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• Savers' fury as TSB slash interest rate on current account by two percent

  15-04-2019 16:44 via feedproxy.google.com
  TSB customers have been dealt a blow after the bank announced it was slashing the interest rate on its current account.
  
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• Renting a property: Landlords BANNED from evicting families unfairly under new rules

  15-04-2019 16:22 via feedproxy.google.com
  RENTERS will be given greater protection from eviction under a major shake-up proposed by the Government.
  
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• Bitcoin news: Beer vending machine sells booze for cryptocurrency

  15-04-2019 16:13 via feedproxy.google.com
  A TECH company has developed a beer vending machine where thirsty punters can pay for alcohol with cryptocurrency.
  
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• No rogue landlords issued with banning orders in 12 months

  15-04-2019 15:46 via theguardian.com
  Just four entries have been recorded on database in the year since its launch, FOI findsNot a single rogue landlord has been issued with one of the government’s new banning orders, a year after the key new power in the battle to root out the country’s worst rental property owners was launched.New laws which took effect in April 2018 mean that slum landlords handed one of the new bans by the courts are prevented from letting out housing across England. Their details must also be enter
  
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• Most expensive cities in the WORLD to buy a home REVEALED

  15-04-2019 13:50 via feedproxy.google.com
  THE most expensive city for home buyers has been revealed as Hong Kong, with Asia dominating a list of high-priced property markets.
  
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• UK house prices RISE by £3,500 as Brexit delay encourages buyers

  15-04-2019 13:42 via feedproxy.google.com
  HOUSE prices across the UK jumped up in April, as the delay to Brexit encourages hesitant home movers, according to Rightmove.
  
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• Monsoon Accessorize plotting DOZENS of store closures in latest UK high street casualty

  15-04-2019 12:59 via feedproxy.google.com
  MONSOON Accessorize is planning to shut “dozens” of stores in what would be the latest casualty to hit the UK high street.
  
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• ‘No-fault’ eviction of tenants must end. But beware unintended consequences | Simon Jenkins

  15-04-2019 12:43 via theguardian.com
  The government is right to curtail landlords’ powers. But too much regulation could end up hurting the poorestTheresa May’s government can get some things right. The curtailment of landlords’ power to evict tenants for no reason with only eight weeks’ notice has been rejected by Labour and Tory ministers for decades. Now the proposed abolition of “section 21” evictions should free landlords from being seen as heartless exploiters, and tenants as worthless tran
  
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• Pound LIVE: GBP Sterling muted against euro despite Brexit BOOST to UK houses

  15-04-2019 10:19 via feedproxy.google.com
  THE pound remains subdued against the euro and US dollar this morning as the currency looks set for a brief restbite from major Brexit movement this week.
  
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• State pension changes: Is YOUR state pension at risk of being SLASHED?

  15-04-2019 10:09 via feedproxy.google.com
  STATE PENSION changes recently came into force as the new tax year commenced earlier this month - and the new rules come with a risk of being taxed higher. Is your state pension at risk of being slashed?
  
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• I'm buying a house with my boyfriend – is 10% a fair share of the equity?

  15-04-2019 08:00 via theguardian.com
  I’m making a cash contribution to the purchase and paying half the mortgageQ My boyfriend is buying a house and I plan to make a cash contribution towards its purchase. The mortgage will be solely in his name as I already own another property (which I plan to keep and rent). The value of the property is £487,000 so I plan to contribute £48,700 plus £1,435 stamp duty in order to own a 10% share of the property. I will then be paying half of the mortgage with my partner eve
  
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• E.ON no help as our building is without hot water for a month

  15-04-2019 08:00 via theguardian.com
  Tens of people complained but we were constantly told the problem was being investigatedI live in a new block of flats in south-east London. Our hot water and heating is managed through a district heating system by E.ON Energy. For the past month and a half we have been without hot water, or at best lukewarm water intermittently. Despite tens of people raising this complaint with E.ON, we are told we are the only one affected and an engineer is sent out.We have raised a complaint centrally but n
  
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• Dividend income for holders of UK shares jumps to record £19.7bn

  15-04-2019 07:00 via theguardian.com
  Huge first-quarter rise driven by special payment from miner BHP Dividends paid to holders of UK shares jumped to a record high in the first three months of the year, putting investors on track for £100bn in payouts this year.The payments rose 15.7% to £19.7bn, easily a first-quarter record, according to data tracked by Link Asset Services. Continue reading...
  
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• Going viral: Fox News, Davos and radical economics – podcast

  15-04-2019 04:00 via theguardian.com
  Rutger Bregman became a social media sensation after his onstage tirade at the gathered elite in Davos this year. His call for higher taxes, open borders and a shorter working week captured the imaginations of millions who viewed the speech online. But can his utopian ideas be translated into realistic policy changes? Plus: J Oliver Conroy on David Buckel, a year on from the climate protester’s death in New York When the Dutch historian Rutger Bregman went on stage at a World Economic Foru
  
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• UK property market ‘in line for summer Brexit relief rally’

  15-04-2019 01:01 via theguardian.com
  Signs of bounceback in prices over past month, says property website RightmoveThe property market is likely to stage a Brexit “relief rally” over the summer, according to Britain’s biggest property website, as it revealed signs of bounceback in prices over the past month.Rightmove said asking prices on its website jumped by an average of 1.1% – an increase of £3,447 – in the month to April 6 but remain 0.1% below the level of a year ago. Continue reading...
  
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• State pension age changes 'risk creating new inequalities'

  15-04-2019 01:01 via theguardian.com
  Women struggling to reconcile longer working lives with caring would be badly hit, thinktank saysMaking people work longer before they can collect their state pensions risks exacerbating social inequalities and threatens to create new gender inequalities, a report claims.Analysis by the thinktank International Longevity Centre UK (ILC) found that women who struggled to reconcile longer working lives with caring responsibilities would be badly hit by changes to the law.Continue reading...
  
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• Short-notice evictions face axe in tenant rights victory

  15-04-2019 01:01 via theguardian.com
  Housing campaigners hail government plans to scrap ‘no-fault’ removals ‘I have PTSD and got depressed’: how no-fault evictions affect tenantsHousing campaigners have hailed a groundbreaking shift for tenants’ rights after the government announced plans to scrap “no-fault evictions”, which it described as the biggest overhaul for renters in a generation.The government will consult on abolishing section 21 evictions in England, meaning private landlords wo
  
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• ‘I have PTSD and got depressed’: how no-fault evictions affect tenants

  15-04-2019 01:01 via theguardian.com
  Annie Goodwin, 73, says three no-fault eviction notices in six years have taken their tollShort-notice evictions face axe in tenant rights victoryWhen Annie Goodwin was given her first no-fault eviction notice, it terrified her. She remembers the moment a letter came in the post, explaining that she had to leave the property within two months. It happened two days before Christmas Eve.“The letter arrived on 22 December … I was told my landlord needed the property for family members.
  
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