Financial news

• Labour plans to ban leaseholds on new-build homes

  08-07-2019 23:30
  Party says it would end ‘feudal system’ in overhaul of property ownership rules in EnglandLabour has set out plans to ban the sale of new private leasehold houses and flats in an overhaul of property ownership rules that could slash the costs for homeowners of buying their freeholds.The shadow housing secretary, John Healey, said the proposals would end exploitative practices by freeholds, “from rip-off ground rents, to punitive fees to onerous contract conditions stating what
  
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• British Airways fine shows GDPR has given watchdogs teeth | Nils Pratley

  08-07-2019 20:17 via theguardian.com
  The ICO is now a regulator to be feared – and tech giants should take fright at BA’s potential £183m hit
  British Airways is “surprised and disappointed” that it could be fined £183m by the Information Commissioner’s Office (ICO) for a data breach, according to its chairman and chief executive, Alex Cruz.He won’t be alone in being shocked. The size of the proposed penalty will cause spluttering in boardrooms up and down the land as the IT chief is s
  
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• The Guardian view on the doctors’ pensions dispute: symptoms of a deeper malaise | Editorial

  08-07-2019 19:43
  Last year’s funding boost did not begin to solve the NHS’s problems, as the latest row between consultants and ministers showsThat a pensions dispute with senior doctors in England has led to cancelled operations and delays in other kinds of medical treatment is alarming, and not only for patients and the hospital bosses who are responsible for their care. That is because the situation, which arose following the imposition of new limits on tax-free pension contributions, is a symptom
  
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• Blame the Treasury for the doctors’ tax trap | Letters

  08-07-2019 18:36
  The head of the hospital doctors’ union, Dr Claudia Paoloni, says the crisis over consultants’ pensions is the fault of the governmentYour front-page article (Operations cancelled in standoff with consultants, 8 July) provides timely exposure on the disastrous impact on NHS care of the labyrinthine pensions tax system.Our members, hospital consultants and specialists are caught in this web that has even seasoned tax professionals scratching their heads due to how it interacts with th
  
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• PPI claim: How do I know if I had PPI? Am I entitled to PPI?

  08-07-2019 18:06 via feedproxy.google.com
  PPI CLAIM deadlines are rapidly approaching, with an estimated 10 million Britons are owed up to £3000 each. How do you know if you have, or are entitled to, PPI?
  
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• By blaming 'industry challenges', Deutsche Bank is clutching at straws | Nils Pratley

  08-07-2019 17:03 via theguardian.com
  Bank that once seemed to have beaten big US rivals at their own game is a national embarrassmentLittle more than a decade ago, Deutsche Bank seemed to have achieved the remarkable feat of beating the big Wall Street banks at their own game. Germany’s biggest financial institution, fuelled by an acquisition spree, a long bull market and willingness to pay fat bonuses, owned one of the world’s top five investment banks.Its rise looked natural and inevitable. Why wouldn’t the bigg
  
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• Tax code 1250L - what does it mean? How to check tax codes are correct

  08-07-2019 16:15 via feedproxy.google.com
  TAX codes are used by an employer or pension provider in order to work out how much Income Tax needs to be taken from one’s pay or pension. What does the tax code 1250L mean?
  
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• How health insurance plans work: The private treatments which may not be covered on policy

  08-07-2019 16:15 via feedproxy.google.com
  HEALTH insurance in the UK may be something a person opts to get, for a variety of reasons. How do health insurance plans work? Some forms of treatment may not be covered on a health insurance policy.
  
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• Can Stamp Duty be refunded? How you could reclaim thousands in Stamp Duty Land Tax

  08-07-2019 16:15 via feedproxy.google.com
  STAMP DUTY LAND TAX is a tax which is usually payable upon the purchase of a property in the UK. Can Stamp Duty be refunded? There are some instances in which a person may qualify for the return of a portion of the SDLT that they paid.
  
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• Can Universal Credit be paid straight to landlord? How the UK roll out may affect you

  08-07-2019 16:06 via feedproxy.google.com
  UNIVERSAL CREDIT is replacing a number of other types of welfare benefits. Can Universal Credit be paid directly to a landlord?
  
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• I ran a bookies for 12 years – they deserve no sympathy for these store closures | Owen Rees

  08-07-2019 15:32
  Reforms to fixed-odds betting machines were always going to hit this profit-driven industry, although closures will send more gamblers onlineSince the introduction of fixed-odds betting terminals (FOBTs) in 2001, UK bookmakers have contributed towards increasing social degradation in our communities. I’ve seen it happen during my 12 years as a bookmaker branch manager. Gambling has always been a vice for people with either enough disposable income that only the winning counts – or fo
  
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• State pension age: How does the UK state pension age compare to other EU member states?

  08-07-2019 14:14 via feedproxy.google.com
  STATE pension age is rising in the UK, with the age set to reach 66 next year. How do the UK state pension age changes compare with pensionable ages in European Union member states?
  
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• Pound-US dollar exchange rate: GBP/USD close to 6-month low as no-deal Brexit looms

  08-07-2019 12:47 via feedproxy.google.com
  The pound remains muted against the US dollar this morning, with the pairing trading in the region of $1.252. At the end of last week’s session, the US dollar rallied against Sterling, with the GBP/USD exchange rate falling to a six-month low. US unemployment rose to 3.7 percent, however, non-farm payrolls data showed that the US economy added a higher-than-forecast 224,000 jobs.
  
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• European Bank Warning: 'Uninvestable' Deutsche Bank overhaul could spell more trouble

  08-07-2019 12:37 via feedproxy.google.com
  DEUTSCHE Bank’s announcement of huge job cuts has left some shareholders deeming the German Financial giant “uninvestable” with strategist Mark Jolley claiming more trouble could be ahead.
  
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• BA faces £183m fine over passenger data breach

  08-07-2019 11:29
  ICO says personal data of 500,000 customers was stolen from website and mobile app British Airways is to be fined more than £183m by the Information Commissioner’s Office after hackers stole the personal data of half a million of the airline’s customers.The ICO said its extensive investigation found that the incident involved customer details including login, payment card, name, address and travel booking information being harvested after being diverted to a fraudulent website.
  
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• Deutsche bank news: THOUSANDS of jobs at risk as cuts begin - FULL email from CEO

  08-07-2019 10:29 via feedproxy.google.com
  DEUTSCHE BANK’S CEO Christian Sewing has announced 18,000 jobs will be cut for a global headcount of 74,000 employees by 2022. Here’s the full email Mr Sewing sent to his employees.
  
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• My wife is buying her own property. Is she liable for stamp duty?

  08-07-2019 08:00
  She has never owned a property before, but I did once before we were marriedQ My wife is buying a property with her own money and has never owned property before. However, I bought and sold a property 20 years ago which she never lived in. I have two quotes from conveyancing firms. One gives my wife the benefit of no stamp duty for first-time buyers but the other doesn’t. This is because they interpret the rules differently. As far as I can tell she should not be penalised due to the fact
  
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• Shell fined me for being in its forecourt waiting for a car wash

  08-07-2019 07:59
  I paid for the car wash and then had to queue for my turn. Absurdly I received a £60 fine for overstayingI drove into a Shell garage in Kilburn (north-west London) to use the automatic car wash. I paid £5, and there were five or six cars in front and two behind me. It took ages – probably about an hour.I have since received a £60 fine (rising to £100 if not paid within a set time) from Euro Car Parks saying I overstayed its maximum 20-minute waiting time. It rejecte
  
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• New blow for investors as Gavin Woodhouse hotel deal collapses

  08-07-2019 07:00
  High court judge says financier’s business model seemed ‘thoroughly dishonest’Private investors who handed their savings to the embattled financier Gavin Woodhouse have been dealt a fresh blow after forfeiting “a substantial amount of money” following the “disastrous” collapse of a plan to buy a Devon hotel.The details of the failed deal are contained in documents submitted to the high court last week on behalf of creditors to Woodhouse’s businesse
  
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