Financial news

• Travel insurance ‘will not cover’ cancelled Sri Lanka holidays

  22-04-2019 20:00 via theguardian.com
  Policies would pay out only if Foreign Office warned against travel, though airlines and tour operators ‘will consider’ requests to postpone
  Sri Lanka bombings: latest updatesHolidaymakers who want to postpone travel to Sri Lanka in the wake of the bomb attacks that killed 290 people will not be covered by their travel insurance. The UK Foreign Office (FCO) updated its travel advice for Sri Lanka on Monday to include details of the nationwide curfew and pending state of emergency. Ho
  
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• Bramson v Barclays: big week for activist before AGM showdown

  22-04-2019 17:33 via theguardian.com
  US-based investor will ramp up pressure on bank if first-quarter results fail to impressThe activist investor Ed Bramson will this week ramp up his battle with Barclays’ chief executive, Jes Staley, in his quest to force the group to scale back its poorly performing investment banking division and install him on the board.Bramson, a British-born lawyer based in New York, has built up a 5.5.% stake in Barclays via his Sherborne Investors vehicle, making him the third-largest shareholder aft
  
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• Facebook profits likely to fall after fake news and privacy scandals

  22-04-2019 16:53 via theguardian.com
  Analysts predict first quarterly drop in earnings since 2015 on $3bn rise in turnover Facebook is this week expected to report a rare decline in profits after a string of privacy breaches and fake news scandals.With its founder and chief executive Mark Zuckerberg under pressure to clean up the social network, analysts predict the company’s net profit will drop to $4.7bn (£3.6bn) in the first quarter, from nearly $5bn a year ago. Continue reading...
  
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• Tesla investigates video of Model S car exploding

  22-04-2019 16:25 via theguardian.com
  The video, widely shared on China’s Twitter-like Weibo, shows the parked EV emit smoke and burst into flames seconds laterTesla has sent a team to investigate a video on Chinese social media which showed a parked Tesla Model S car exploding, the latest in a string of fire incidents involving the company’s cars.The video, time stamped Sunday evening and widely shared on China’s Twitter-like Weibo, shows the parked EV emit smoke and burst into flames seconds later. A video purpor
  
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• Three children of Asos billionaire killed in Sri Lanka attacks

  22-04-2019 12:19 via theguardian.com
  All but one of Anders Holch Povlsen’s four children have died after series of explosionsSri Lanka bombings: latest updatesThe billionaire fashion tycoon behind the online clothing retailer Asos lost three of his four children in the Sri Lanka terrorist attacks, a spokesman has said.Anders Holch Povlsen, 46, is Denmark’s wealthiest man with a net worth of $7.9bn (£6.1bn) according to Forbes, and is believed to be the largest landowner in Scotland after buying a string of histori
  
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• Asos billionaire loses three children in Sri Lanka attacks

  22-04-2019 11:53 via theguardian.com
  Anders Holch Povlsen, clothing retailer’s biggest shareholder, lost three of his four children, a spokesman has saidThe billionaire fashion tycoon behind online clothing retailer Asos lost three of his four children in the Sri Lanka terrorist attacks, a spokesman has said.Anders Holch Povlsen, 46, is Denmark’s wealthiest man and is believed to be the largest landowner in Scotland after buying a string of historic estates. Continue reading...
  
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• Former Nissan boss Carlos Ghosn hit with fresh charge in Japan

  22-04-2019 08:49 via theguardian.com
  Prosecutors file fourth formal indictment for allegedly siphoning company funds for personal useJapanese prosecutors have charged the former Nissan chairman Carlos Ghosn with aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire.The charge, on Monday, ensures that Ghosn will remain in custody pending another bail attempt by his lawyers. Continue reading...
  
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• Ex-Nissan boss Carlos Ghosn hit with fresh charge in Japan

  22-04-2019 08:49 via theguardian.com
  Prosecutors file fourth formal indictment for allegedly siphoning company funds for personal useJapanese prosecutors indicted former Nissan chairman Carlos Ghosn on Monday on a charge of aggravated breach of trust, a Tokyo court said, bringing a fourth charge against him on the day his detention period was set to expire.The charge, which ensures Ghosn will remain in custody pending another bail attempt by his lawyers, comes after authorities arrested him earlier this month for a fourth time on s
  
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• Pearl farming in Japan – in pictures

  22-04-2019 08:00 via theguardian.com
  Japan still dominates the global cultured pearl market, despite a fall in specialised pearl farmers. In the past 10 years it has produced annually about 20 tonnes of farmed pearls Continue reading...
  
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• If I inherit my mum's house will I be able to use my lifetime Isa?

  22-04-2019 08:00 via theguardian.com
  I could end up losing 25% of it or having to leave my savings there until after I retireQ I’m single, earn around £20,000 a year at age 34 I have a pension pot which is currently worth £15,000. I want to save for my retirement and eventually buy a house. I recently opened a lifetime Isa, as I know they can help me to buy a house although so far I’ve only put in £100. Continue reading...
  
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• Facebook urged to tackle spread of fake profiles used by US police

  22-04-2019 08:00 via theguardian.com
  A Guardian report recently revealed a secret network of accounts operated by US Immigration and Customs EnforcementThe Electronic Frontier Foundation (EFF) has called on Facebook to address the proliferation of undercover law enforcement accounts on the social networking site following a Guardian report that revealed a secret network of accounts operated by US Immigration and Customs Enforcement (Ice).EFF, a digital civil liberties not-for-profit, said law enforcement agencies are able to create
  
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• British Gas broke in to change a meter that was not theirs

  22-04-2019 07:59 via theguardian.com
  I am an SSE customer and have never had an account with themLast week British Gas tried to break into my house, damaging my locks in the process, and I thought it was a failed break-in. A hand-delivered letter, addressed to an unknown person, stated it had a warrant to force entry and to change the meter to pay-as-you-go. It said this person owes over £1,000.I am not a British Gas customer – I’m with SSE – and have never been one at this address. I have been harassed for
  
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• 'Costs are crippling': more than 900 British pubs vanished in 2018

  22-04-2019 07:01 via theguardian.com
  Annual review shows low consumer confidence and high business rates remain a hurdleMore than 900 pubs vanished from communities in Britain last year, as the industry was hit by intense cost pressures and business rate increases.A total of 914 pubs disappeared in 2018, according to the real estate data company Altus Group’s annual review, due to be released this week. Continue reading...
  
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• 'Nothing's affordable': buying a home now just a dream on Arran

  22-04-2019 07:00 via theguardian.com
  Young couples and older workers alike face housing insecurity on island where tourism is boomingHousing crisis on Arran leaves hundreds of islanders without homes Jennifer and Andrew Earle’s new home arrived on the ferry to Arran almost a fortnight ago, a static caravan just about large enough for the couple and their four daughters, the youngest six months old.It was towed by tractor to Andrew’s parents’ house near the southern tip of Arran, where Andrew and his father will pa
  
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• Finance workers three times as likely to have parents in same sector

  22-04-2019 01:01 via theguardian.com
  Research shows lack of diversity narrows talent pool and obstructs social mobilityTwo in five people working in British banking have parents who also worked in the sector – more than three times the national average for other types of jobs.Some 41% of financial services employees had parents working in the same sector, against a national average of 12% across other sectors, research by the accountants KPMG showed. In insurance, more than half of staff had followed their parents into the in
  
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• Britons without a bank account 'pay a £485 poverty premium'

  22-04-2019 01:01 via theguardian.com
  Number of unbanked people has fallen to 1.2 million, but they miss out on discountsBritons who do not have a bank account face paying up to £485 extra each year for bills and basic services, according to a report.The 1.2 million so-called unbanked individuals are said to pay a “banking poverty premium” because they are missing out on preferential deals and discounts on utility bills, mobile phone contracts, broadband and personal loans. Continue reading...
  
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