Financial news

• Apple's spaceship HQ valued as one of the world's most expensive buildings

  12-07-2019 23:25 via theguardian.com
  The firm paid $6m into an affordable housing fund but critics say it must do more to help solve Silicon Valley’s social issuesApple’s donut-shaped headquarters in Cupertino, California, has been valued at $4.17bn, according to a new assessment this week – making it one of the most expensive buildings in the world.David Ginsborg, deputy assessor of Santa Clara county, where Cupertino is located, said that the unconventional 2.8 million-square-foot property was a challenge to eva
  
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• London airports to be hit by series of strikes during summer

  12-07-2019 19:01 via theguardian.com
  Heathrow, Stansted and Gatwick face walkouts although officials say contingency plans will minimise disruptionThe Unite union has threatened to “shut down” Heathrow, Britain’s biggest airport, this summer after calling a series of strikes over pay.Disruption could also occur across other London airports in separate disputes over pay and conditions, while British Airways pilots have been balloted for a strike. Continue reading...
  
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• No-deal Brexit could mean near-zero interest rates – Bank policymaker

  12-07-2019 18:17 via theguardian.com
  MPC member Gertjan Vlieghe issues warning during speech in LondonA no-deal Brexit could result in a prolonged period with interest rates at a record low level of almost zero, according to one of the Bank of England’s key policymakers.In signs of growing Threadneedle Street concern about the fragility of the economy, Gertjan Vlieghe, a member of the rate-setting monetary policy committee, said he would be prepared to cut borrowing costs aggressively in the event that the UK left the EU with
  
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• Let’s move to Whitley Bay, Tyne and Wear: it has maintained its pride and beauty

  12-07-2019 17:30
  Despite a dose of that dubious urban medicine ‘regeneration’, it seems to be thrivingWhat’s going for it? The trouble with British seaside resorts, if reports are to be believed, is that they fall into two camps: ruined, despairing and utterly beyond all hope, or Whitstable. If you spend time visiting every prom, pier, amusement arcade, instant doughnut purveyor, rock shop and groyne in the country, as I do (everyone needs a hobby), you will know the truth is more complex. Whit
  
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• Major car dealership Lookers blames Brexit for profit warning

  12-07-2019 16:44 via theguardian.com
  Collapse in diesel sales and low consumer confidence add to tough trading conditionsShares in Lookers, one of Britain’s biggest car dealerships, have tumbled another 30% after the firm issued a profits warning, blaming increasingly challenging trading conditions.It warned on Friday that weaker margins will push first-half profits down by 25%, to about £32m, and full-year figures will also fall below forecasts, as customer confidence is hit by continuing political and economic uncerta
  
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• Fairytale rise: Disney climbs to new high of Hollywood dominance

  12-07-2019 16:22 via theguardian.com
  After a string of megabucks acquisitions, one in three tickets sold in the US are for Disney films. Can rival studios fight back?The US box office may be faltering so far this year – nearly 10% down on its record-setting results in 2018 – but one success story stands out: films released by the Walt Disney Studio, through its cinema release arm Buena Vista, have earned more than $2bn (£1.6bn) in 2019, a 35% market share. In effect, more than a third of all cinema tickets bought
  
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• Rail worker killed by train in south London was covering for brother

  12-07-2019 16:07 via theguardian.com
  Man on zero-hours contract was called by brother to say he would not be working with himA railway worker killed by a train in south London was on the track alone because he was covering up for his brother, who was too tired to do the night shift after daytime delivery work, it has emerged.The Labour party and unions joined safety inspectors in calling for an overhaul of zero-hours contracts on the railway after investigators found fatigue was a likely contributory factor in the fatal accident la
  
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• Bitcoin price: Expert makes shock claim cryptocurrency to hit £100,000 by 2021

  12-07-2019 15:55 via feedproxy.google.com
  BITCOIN price has soared in recent weeks and one cryptocurrency expert has outlined why he thinks bitcoin will hit $100,000 by 2021.
  
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• Pound US Dollar exchange rate: GBP/USD flat, no-deal Brexit may force BoE to slash rates

  12-07-2019 15:25 via feedproxy.google.com
  This morning, the pound remained muted against the US dollar and the pairing is currently trading around $1.253. Sterling was left trading statically as Senior Bank of England Official Gertjan Vlieghe gave a speech in London.
  
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• Pound euro exchange rate: GBP/EUR steadies as BoE says banks are ‘prepared’ for Brexit

  12-07-2019 15:01 via feedproxy.google.com
  The pound euro exchange rate stabilised this morning, leaving the pairing fluctuating around €1.113. The pairing steadied following yesterday’s financial stability report from the Bank of England .
  
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• $32m stolen from Tokyo cryptocurrency exchange in latest hack

  12-07-2019 14:04 via theguardian.com
  Bitpoint suspends services after apparent theft of virtual monies including bitcoinA cryptocurrency exchange in Tokyo has halted services after it lost $32m (£25m) in the latest apparent hack on volatile virtual monies.Remixpoint, which runs the Bitpoint Japan exchange, discovered that about ¥3.5bn in various digital currencies had gone missing from under its management. Continue reading...
  
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• Homes in former lodges – in pictures

  12-07-2019 13:43
  From an ancient pile in East Sussex to a Grade II-listed building in Bath, homes worth hunting for Continue reading...
  
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• Deutsche Bank chief rebukes executives over suit-fitting on cuts day

  12-07-2019 13:26 via theguardian.com
  Managers called high-end tailors to London office as thousands of traders lost jobs Deutsche Bank’s chief executive has criticised two managers who ordered upmarket tailors to their London office on Monday as the lender was announcing 18,000 job losses worldwide. “I can’t understand that someone would call tailors to fit suits on Monday. On the same day, we had to tell many colleagues in share trading that they had to leave,” Christian Sewing told the German business dail
  
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• State pension UK forecast: What is the full amount? How to work out how much you can claim

  12-07-2019 10:01 via feedproxy.google.com
  STATE PENSION payments are something many people will rely on during their later years. What is the current full state pension amount? It is possible to get a state pension forecast in order to see how much one can claim during their retirement.
  
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• Thomas Cook in £750m rescue deal talks with biggest shareholder

  12-07-2019 08:57 via theguardian.com
  Chinese investor Fosun would get majority stake in travel firm’s tour operator businessThe struggling travel company Thomas Cook is in talks over a £750m rescue deal that would hand control of its 178-year-old package holiday business to a Chinese investor.The company confirmed on Friday it was in “advanced discussions” to secure new funding from its banks and the Shanghai-based conglomerate Fosun, which owns Wolverhampton Wanderers FC and the holiday resort chain Club Me
  
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• Homes with their own lodges – in pictures

  12-07-2019 08:00
  From an ancient pile in East Sussex to a Grade II-listed building in Bath, homes worth hunting for Continue reading...
  
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• KFC first UK fast food chain to commit to new chicken welfare standards

  12-07-2019 07:00 via theguardian.com
  Move expected to put pressure on rivals McDonald’s, Burger King and large supermarkets such as Tesco and Sainsbury’sKFC is to become the first UK fast food chain to sign up to new European welfare standards for farmed chickens, in an attempt to tackle growing concerns about inhumane conditions in the intensive and large-scale production of meat.The move by the America-owned chain – 18 months after the blueprint was unveiled – will put pressure on rivals McDonald’s a
  
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• From tobacco to milkshakes: where did 'sin taxes' come from?

  12-07-2019 07:00 via theguardian.com
  Boris Johnson thinks sin taxes are part of the ‘nanny state’ – but he’s muddling up his authority figuresThis week, campaigners were worried that Theresa May’s cherished plans to increase “sin taxes” on tobacco companies and milkshakes would not survive the end of her premiership. Boris Johnson, perhaps a man particularly reluctant to contemplate negative consequences for sin, said that “sin taxes” were part of the “nanny state”.
  
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