Financial news

• Even Trump may ultimately retreat from the cost of the China trade war

  11-05-2019 17:00 via theguardian.com
  The president’s bullish advisers may be taking a hard line, but the chances of a deal are better than they lookDuring Donald Trump’s campaign to be president, he regularly cited China’s export subsidies as “evil”, and in his manifesto he pledged to “cut a better deal with China that helps American businesses and workers compete”.The president turned decades of musings into a policy mission after his son-in-law, Jared Kushner, handed him a book by the aca
  
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• Britain has favoured the old over the young for too long

  11-05-2019 17:00 via theguardian.com
  Rising pensioner wealth has muddied statistical measures of inequality and family poverty. It is time for fundamental changeOlder people are a nervous, anxious bunch. We know this from the way they vote. By quite a large margin, the over-65s vote for the Conservative party.Shoring up their wealth has become a priority during a period when Britain’s economic outlook has become more uncertain and their own finances may need to cope with years, possibly decades, of failing health. A more enli
  
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• Labour unveils plan to axe lower minimum wage for under-18s

  11-05-2019 12:11
  Hourly pay of workers aged 16 and 17 would more than double under Labour planLabour has announced plans to introduce a £10-an-hour minimum wage that would include workers aged under 18.Jeremy Corbyn pledged at a party meeting in Birmingham on Saturday to “end this discrimination” against young workers by abolishing the minimum wage youth rate. Continue reading...
  
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• Five of the best wireless earbuds: a guide for all budgets

  11-05-2019 11:00
  Our pick of the Bluetooth earbuds out there, from Apple Airpods to Samsung Galaxy Buds and moreEarbuds are great for some personal listening in the office, on the commute or at the gym, but wires are a pain, and headphone sockets are disappearing from our smartphones.Bluetooth earbuds have long been available with a wire between them that runs round the back of your neck, but that can be frustrating as it often gets caught on clothing. The next generation of truly wireless earbuds solves the pro
  
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• Elon Musk faces trial after calling British diver a paedophile

  11-05-2019 10:40 via theguardian.com
  LA court rejects Telsa chief’s attempt to dismiss Vernon Unsworth’s defamation lawsuitElon Musk will have to go to trial to defend himself for mocking a British diver and baselessly calling him a paedophile.The verbal sparring match unfolded last summer after the underwater rescue of youth football players trapped in a Thailand cave. Continue reading...
  
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• Vinyl revival: is there an environmental cost to record sales?

  11-05-2019 09:00 via theguardian.com
  Many records – selling at their highest rate for decades – are PVC, which is to be banned in the EUFor an event dedicated to the vinyl revival, the setting couldn’t be more appropriate. In the mid-70s David Bowie sat in the same wood panelled room of Berlin’s Meistersaal, recording Low and Heroes.“He’d look out on to the nearby GDR watchtower and the joke was that the border guards would be listening in on the recordings,” Eduard Meyer, Bowie’s sou
  
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• Ugg: kick in the guts as Aussie maker loses US trademark case

  11-05-2019 08:52 via theguardian.com
  Sydney-based Eddie Oygur ordered to pay damages after footwear and apparel company Deckers puts its foot downThe Australian ugg boot maker Eddie Oygur has suffered a $US450,000 ($A643,000) loss in his “David versus Goliath” legal fight with a major US footwear and apparel company.A jury in Chicago found Oygur’s business, Sydney-based Australian Leather, wilfully infringed a trademark registered to California-based Deckers Outdoor by selling ugg boots online to customers in the
  
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• 1MDB: Fugees rapper and Malaysian businessman indicted over Obama donations

  11-05-2019 08:35 via theguardian.com
  US prosecutors say Jho Low, 37, transferred $21.6m to rapper Prakazrel ‘Pras’ Michel for 2012 re-election bidA founding member of the hip-hop group the Fugees and a Malaysian businessman have been indicted for making illegal contributions to former US president Barack Obama’s 2012 reelection campaign.Haitian-American rapper Prakazrel “Pras” Michel, 46, and Jho Low, 37, were accused of conspiracy and other charges in the four-count indictment unsealed on Friday. Cont
  
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• Super rich buying up Italy's mansions under new tax regime

  11-05-2019 08:00
  ‘You get the same sort of tax savings you get in Jersey but you get to live somewhere you actually want to live’Luxury Tuscan estate agent Ian Heath is developing a taste for private jets. “It’s not that unusual anymore,” Heath says of hitching a ride on a billionaire’s jet to the Italian Riviera last week to give the wealthy client a tour of some of the most luxurious and expensive homes.“These guys fly around the world in their jets and helicopters,&rd
  
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• Number spoofing: £290,000 returned to readers scammed out of their savings

  11-05-2019 08:00
  Complaints from readers who have fallen foul of fraudsters posing as bank staff are running out of controlGuardian Money has helped persuade the banks to collectively refund a record £290,000 so far after we took up more than a dozen readers’ cases. All of them had fallen victim to one of the most sophisticated bank frauds ever reported on by this paper.In recent weeks Money has been inundated with calls from people who were contacted by fraudsters posing as bank staff. In each case
  
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• My satnav is out of date – should I update it, or use my phone?

  11-05-2019 08:00
  I often find myself in areas where there are no maps, resulting in a confusing trip homeEvery 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.The satnav in my car is out of date. I often find myself in areas where there are no maps and even leaving a shopping centre can result in a confusing trip home. Can I update it? Or should I just use Google Maps on my phone? C
  
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• Mental health: seeking help can stop the spiral of debt

  11-05-2019 08:00
  People suffering stress and anxiety are three times more likely to be in debt. We look at the help availableOne in three people regularly worry about money to the extent that it has a negative impact on their mental health, according to new research. As Mental Health Awareness Week kicks off on 13 May, charities and consumer groups are urging those in debt to seek help early to avoid a downward spiral in their health and wellbeing.Debt is often a major factor for those suffering with stress and
  
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• Don't believe the hype about millennials and money, data suggests

  11-05-2019 08:00
  Far from splashing out on lattes and avocado toast, Revolut has found many are savingSeven out of 10 young adults are regularly putting money aside, with almost £174 a month being saved on average, showing UK millennials are “far more savvy” about finances than they are given credit for.That’s the headline finding of new research based on real customer data drawn from smartphone-based banking service Revolut’s servers. Continue reading...
  
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• Climate emergency edict in UK to shape decision on Heathrow expansion review

  11-05-2019 07:00 via theguardian.com
  Britain’s net zero by 2050 goal may have impact on whether existing policies are reassessedBritain’s move to “net zero” carbon and the declaration of a climate emergency in parliament will be “given careful consideration” in deciding whether to grant a review of Heathrow airport’s expansion, the government has said.The new approach falls well short of any commitment to review Heathrow’s expansion, but means the decision on whether to grant campaign
  
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• Rory McIlroy tops UK's richest young sports star list for third year running

  11-05-2019 01:01 via theguardian.com
  Golfer’s fortune stands at £138mFootballers dominate all-male listThe Northern Irish golfer Rory McIlroy has been named the UK’s richest young sports star for the third year running, increasing his fortune by £28m to £138m, in an all-male list dominated by Premier League footballers.He topped the 17-strong list ahead of the Real Madrid and Wales footballer Gareth Bale, whose fortune grew a £20m to £94m. Bale moved up a spot because Andy Murray, 31, did n
  
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