Financial news

• Liverpool and Spurs fans learn a hard lesson in basic economics | Larry Elliott

  12-05-2019 13:56 via theguardian.com
  Despite all the talk of supporters being gouged over travel costs, this is the way markets workFor supporters of Liverpool, Spurs, Arsenal and Chelsea it has been quite a week. First they had the joy of seeing their teams get through to the finals of Europe’s two cup competitions: the only time there has been a clean sweep by English clubs. After the euphoria, though, came a hard lesson in basic economics.As the final whistle blew at Anfield, following Liverpool’s amazing comeback ag
  
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• Plan to end the tax trap on NHS senior doctors’ pensions

  12-05-2019 10:00
  Medics have been refusing extra work for fear of being hit by charges for exceeding retirement contributionsMinisters are planning a major shake-up of NHS pensions designed to stop an exodus of senior doctors retiring early because current tax rules mean they can end up working for free, especially if they take on extra duties.Philip Hammond, the chancellor, and Matt Hancock, the health and social care secretary, are studying plans which would end what NHS bosses and doctors’ leaders say i
  
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• Shelves of shame: are these the worst recycling offenders in supermarkets?

  12-05-2019 09:59
  A quick tour of the big stores shows they could do much more to cut out plasticCraig Curtis, the new president of the Recycling Association, is staring with exasperation at the aisle full of salad leaves. He presses a bag of rocket.“Do you hear that?” he says, as the plastic crackles. “That’s laminated. One sort of plastic on the outside, and a totally different sort on the other.” He shakes his head at the supermarket display. “You can’t recycle it. It
  
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• The lost £19bn: how to trace those forgotten pension pots

  12-05-2019 09:00
  As people move jobs they can leave behind funds and forget about them. With 10 million auto-enrolled in workplace pensions, the issue is getting more acuteThe era of the job for life is over. Whereas once many workers could expect to spend their whole career in the same company, now they shift from one to the next as better opportunities present themselves, redundancies force movement or they opt for a change in direction. Our lives have changed so much that research suggests that average worker
  
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• Great fanfare as Uber gets its stock on the road, but app stalls in New York

  12-05-2019 09:00 via theguardian.com
  Could this be the moment the sentiment on Wall Street turned against the tech sector?Uber’s stock market debut came with all the usual razzmatazz of a big American technology IPO. The chief executive spent weeks making sweeping statements about how the business was “just getting started” and had new worlds to conquer – everything from pizza delivery to international freight. In the background, investment bankers whipped up buyers for the “transportation” stock
  
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• Welfare shake-up ‘will double number of children in poverty’

  12-05-2019 08:00
  Half of low-income families will lose thousands of pounds a year, warns new studyFlagship welfare reforms will trigger a big increase in families unable to make ends meet, new analysis reveals.The number of children living in families that have a monthly deficit will double in some areas, because of the combined impact of universal credit, a two-child limit on some welfare payments and the benefits cap. Continue reading...
  
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• Number of public sector pensioners on £100k trebles in seven years

  12-05-2019 07:03
  Critics say it’s unfair on younger workers who must fund such generous payouts as well as paying more for their own retirementThe number of people in the public sector’s largest pension schemes retiring on incomes of more than £100,000 has more than tripled in the past seven years, according to figures obtained by a charity promoting intergenerational fairness.Pensions schemes covering the NHS, the civil service and the teaching profession were paying six-figure incomes last ye
  
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• The zeitgeist has shifted. Now the left is fizzing with ideas for a smarter economy | Will Hutton

  12-05-2019 07:00
  Ambivalence over Brexit may be the only thing stopping it from being the party of progressive reformOur landscape is changing and this spring the pace is accelerating. It’s there in the mounting public recognition that the challenges society confronts are common to us all – from climate change to the growth of food banks – and so must require a common response marshalling common resources.It feels as if we’re at an inflection point, whether in the degree of support for Ex
  
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