Financial news

• Deutsche Bank staff saw suspicious Trump and Kushner activity – report

  19-05-2019 20:59 via theguardian.com
  New York Times releases explosive report on Russia-linked bankEmployee says ‘nothing happened’ after she raised concernsSeveral financial moves by legal entities controlled by Donald Trump and Jared Kushner between 2016 and 2017 triggered suspicious activity alerts inside Deutsche Bank, a major lender to the Trump family, according to a report in the New York Times. Related: No holds Barred: Trump and his troops push for imperial presidencyContinue reading...
  
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• Ashley seeks support for legal challenge to Debenhams' rescue

  19-05-2019 18:49 via theguardian.com
  Creditors have until 6 June to challenge two company voluntary arrangement dealsMike Ashley’s Sports Direct group is trying to muster support for a legal challenge to a Debenhams restructure package that was given the green light this month.Creditors have until 6 June to challenge two company voluntary arrangement (CVA) deals under which Debenhams plans to to close at least 22 stores of the group’s 166 UK stores and reduce rents on dozens more. Continue reading...
  
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• Thomas Cook says it is business as usual after Friday's 40% crash

  19-05-2019 18:30 via theguardian.com
  Travel company forced to reassure its holidaymakers and suppliers it has ‘ample cash’Thomas Cook has been forced to fend off a wave of worried inquiries from holidaymakers and suppliers, promising it has “ample cash to operate” after a crash in its share price on Friday.In numerous responses to customers on Facebook and Twitter expressing concern that trips might be cancelled, the holiday operator said it was “business as usual” and that all of its holidays we
  
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• Philip Green could close overseas stores as part of Arcadia rescue

  19-05-2019 17:37 via theguardian.com
  Retail empire needs to secure deal with landlords to avoid going into administrationSir Philip Green is considering closing down overseas stores as part of a rescue restructure for his retail empire, which could be announced as early as this week.Arcadia, the group led by Green that owns several ailing high street fashion brands including Topshop, Miss Selfridge and Wallis, said it needs to secure a deal involving about 50 UK store closures, rent cuts and a reduction in pension fund payments. Co
  
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• The rise of social supermarkets: 'It's not about selling cheap food, but building strong communities'

  19-05-2019 12:30
  Millions of Britons struggle to put food on the table. Are social supermarkets, where surplus stock from big retailers is discounted, the solution?Near the tills, in what looks, at first glance, like a standard convenience store, is a shelving unit crammed with goods, all bearing a familiar high street logo. There are packs of flour and jars of pitted black olives, tins of mixed bean salad and boxes of mushroom soup sachets. Hanging from the front is a laminated sign. It reads: “20 for 20.
  
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• Counter culture: my life growing up in a corner shop

  19-05-2019 12:29
  BBC presenter Babita Sharma on what she learned from helping out in her parents’ store, and why corner shops remain an essential part of British lifeI am a corner shop kid and my childhood home was shared with our customers for more than a decade. We – a family of five – ate, slept, lived and worked in the shop. We served you and you gave us business, but there was a world beyond the counter that you never knew. My parents’ store near Reading was the perfect place to lear
  
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• It will take another crisis for governments to step up to the spending plate | Larry Elliott

  19-05-2019 12:26 via theguardian.com
  But as Keynes has shown, loose monetary policy is not the only way to respond to stagnationAlvin Hansen’s timing could hardly have been worse. In early 1939, almost a decade after the Wall Street crash and six months before Hitler invaded Poland, he said America’s best years were behind it. An ageing population, fewer migrants and the exhaustion of existing technologies meant there would never be complete recovery from the Great Depression. Instead, the US was stuck in what Hansen ca
  
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• Pennies from heaven: what’s it like to suddenly become rich?

  19-05-2019 12:00
  We’ve all daydreamed about an unexpected windfall that would change our luck. But what’s it really like to come into money? Michael Segalov meets five people who didOur routine was always the same. Wayne, my husband, would pop into the post office on his way to work to get our lottery tickets, and he’d get up early the morning after the draw and check the numbers. He’d forgotten to check the Tuesday night Euromillions till the Thursday.Continue reading...
  
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• Grandparents can get an extra £5,000 from their state pension - how much can you claim?

  19-05-2019 11:17 via feedproxy.google.com
  STATE pension is a sum of money that Britons over state pension age can claim to help them in later life. Grandparents can get an extra £5,000 from their state pension in credit - how much extra could you get?
  
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• Labour’s plans for cheap green energy are no more than electric dreams

  19-05-2019 10:00 via theguardian.com
  Proposals for renationalising gas and electricity are based on hopes of buying companies on the cheapLabour’s plans to renationalise water, energy and rail companies have widespread support and with good reason: these industries are failing to meet the legitimate expectations of the public.The question mark that hangs over these proposals is whether expectations are now being ramped up to such an extent that taking these industries back into public ownership will almost certainly be consid
  
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• Why a bad mistake at work can be good news

  19-05-2019 08:59
  Things may seem dire, but screwing up isn’t the end of the world. By ‘owning’ your blunder, you can turn your life aroundIt’s a moment in his 14-year career as a headteacher that Simon Kidwell will never forget. “The husband of a member of my staff was rushed to hospital – and she came in the next day, after being up most of night, panicking because she hadn’t done the marking for her class.” At the time, he expected all the teachers at his Cheshir
  
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• My dream job was stolen away after a credit-rating agency labelled me bankrupt

  19-05-2019 08:59
  A contract as a high-flying IT security manager ended before it started for one professional because of an error on her recordsIt was a dream job. Debbie Scott beat other candidates to win a six-month rolling contract as IT security manager at Lloyds Banking Group. The role commanded a large salary, but she never got as far as her desk. A mistake on her credit record wrongly identified her as a bankrupt and her new job was re-advertised before she’d had a chance to start it.“It&rsquo
  
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• M&S must hope Ocado will turn its food problems into trifles

  19-05-2019 08:00 via theguardian.com
  This week’s full-year results are unlikely to make appetising reading, but the promise of internet shopping offers hopeShareholders in Marks & Spencer might be forgiven for starting this week with a sense of scepticism. The stalwart of the British high street is set to announce its full-year results on Thursday, and expectations are already low.The past decade has seen a number of attempts to revive the fortunes of the chain but problems persist – an ageing customer base, expensi
  
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• Bitcoin price PLUMMET: Is recent BTC rally REALLY over?

  19-05-2019 07:07 via feedproxy.google.com
  BITCOIN yesterday witnessed a dramatic drop in its price. But a BTC expert believes bitcoin’s recent remarkable rally may not be over.
  
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• The Observer view on Britain’s scandalous wealth inequality | Observer editorial

  19-05-2019 07:00
  Official figures mask the growing income disparities dividing BritainBritain needs to wean itself off measures of inequality that disguise more than they reveal about the gap between rich and poor.So says the Institute for Fiscal Studies, which last week used the occasion of its 50th anniversary to launch a five-year quest for better measures of inequality. Continue reading...
  
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