Financial news

• City watchdog admits investment rules too complex for staff

  17-07-2019 19:30
  Angry investors at public meeting demand answers from FCA over financial scandals that have lost their moneyThe City watchdog has admitted that its rules are so complex that even its staff may not understand which investment products come under its jurisdiction.The chairman of the Financial Conduct Authority made the concession during a tempestuous annual public meeting in London on Wednesday, where consumers criticised the regulator for failing to protect them from a growing list of scandals. C
  
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• Pound could 'hit parity' with US dollar after no-deal Brexit; London house prices slide - business live

  17-07-2019 19:10
  Rolling coverage of the latest economic and financial news, as UK housing market keeps slowing and the pound hits fresh lowsLatest: Parity warning for the poundSterling fell below $1.24 today to 27-month lowLondon house prices fell 4.4% in MayBiggest decline in a decadeUK house price growth slows to 1.2% 6.10pm BST Talk of an early general election has also hurt the pound.Nomura analyst Jordan Rochester said: “Election talk is why the pound is underperforming again, not much of a surprise
  
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• Mercure give one married couple the chance to win 'Wedding re-do' worth £10,000

  17-07-2019 17:06 via feedproxy.google.com
  HALF of married Brits would love to 'remake' their wedding and walk down the aisle again if they had the chance - but not all want to relive the joys of their 'big day', a study has found.
  
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• Google suspends ticket website Viagogo from paid-for global search results

  17-07-2019 16:28 via theguardian.com
  Search engine’s decision follows pressure from campaign groups and MPsGoogle has suspended the secondary ticketing company Viagogo from its paid-for search results, globally and with immediate effect, a potentially huge blow to the website’s ability to do business.The search engine’s surprise decision, which was welcomed by campaign groups and MPs including the digital minister, Margot James, comes with Viagogo also facing legal action from the Competition and Markets Authority
  
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• ASCENTI: Physiotherapy service speeds recovery with personal advice app  

  17-07-2019 16:12 via feedproxy.google.com
  NEW digital moves from UK physiotherapy service Ascenti will see the roll-out of a ground-breaking app next month that aims to transform treatments for patients and clinicians.
  
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• Bitcoin price news: BTC has ‘NOTHING to fear’ from Facebook Libra cryptocurrency

  17-07-2019 15:54 via feedproxy.google.com
  BITCOIN’S fortunes have been closely linked with Facebook Libra since it was announced. But bitcoin will outlive the social media giant’s stablecoin, a crypto expert has claimed.
  
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• House prices: London prices plummet - should you join the property ladder now?

  17-07-2019 14:56 via feedproxy.google.com
  HOUSE PRICES in London have plummeted in May at their fastest rate in nearly 10 years according to an official study - but should you join the property ladder now?
  
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• Bitcoin on its knees as cryptocurrency crashes to $9,500

  17-07-2019 13:19 via feedproxy.google.com
  BITCOIN’S heavy-footed dance across the trapdoor of $10,000 took an inevitable turn last night as the world’s most popular cryptocurrency fell through the floor. Crashing to $9,500, BTC suffered an undignified fall after weeks of menacing abuse from world leaders, financiers and even obscenely poor mistakes from crypto exchanges.
  
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• Pound US dollar exchange rate: GBP/USD close to 27-month low

  17-07-2019 12:47 via feedproxy.google.com
  The pound US dollar exchange rate is currently trading in the region of $1.240 – close to a 27-month low. Sterling plummeted yesterday as the rising odds of the UK leaving the EU without a deal undermined demand for the British currency and counteracted the effect of positive UK employment data.
  
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• ‘The city has changed beyond all recognition': Derelict London – in pictures

  17-07-2019 12:00 via theguardian.com
  Paul Talling photographs the land of long-forgotten tube stations, burnt-out mansions and gently decaying factoriesDerelict London, all new edition, is published by Penguin Random House Continue reading...
  
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• London house prices fall at fastest rate in 10 years

  17-07-2019 11:41
  It is the biggest plunge since the 7.0% annual drop recorded in August 2009, says ONSHouse prices in London have fallen at their fastest pace since the financial crash a decade ago as the capital bears the brunt of the nationwide torpor in the property market.Amid a dearth of potential buyers, the cost of a home in London was 4.4% lower in May than a year earlier, according to the latest official snapshot of the market from the Office for National Statistics. Continue reading...
  
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• John Lewis’s failure to honour its guarantee left me fuming

  17-07-2019 08:00
  Reader frustrated after years of delay over replacing damaged kitchen unitsWe spent £18,000 on a new kitchen in 2012. We chose John Lewis for its reputation for customer service.In spring 2016 we noticed that laminate was peeling off two of our wall units, which were within their five-year warranty. John Lewis inspected them and agreed to replace the two carcasses. Continue reading...
  
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• Poor tenants pay for landlords to live like kings. It doesn’t have to be this way | George Monbiot

  17-07-2019 07:01
  Britain has enough housing – it’s just that a series of outrageous policies makes it accessible only to the richI have a friend who works almost every waking hour, mainly to pay the rent. Her landlord lives on a beach, 4,000 miles away. He seldom responds to her requests, and grudgingly pays for the minimum of maintenance. But every so often he writes to inform her that he is raising the rent. He does not have to work because she and other tenants work on his behalf. He is able to li
  
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• UK's renting millennials face homelessness crisis when they retire

  17-07-2019 07:00
  Report finds at least 630,000 will be unable to afford private rents on their pension incomeMore than 600,000 members of so-called ‘Generation Rent’ are facing an “inevitable catastrophe” of homelessness when they retire, according to the first government inquiry into what will happen to millennials in the UK who have been unable to get on the housing ladder as they age.People’s incomes typically halve after retirement. Those in the private rented sector who pay 40%
  
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• UK living standards hit by rising prices and weak wage growth

  17-07-2019 01:01
  Resolution Foundation says households suffering worse than 1990s recession
  Britain’s weak wage growth and rising prices have delivered a hit to living standards of a severity normally only seen during a deep recession, a leading thinktank has said.While official data has shown a pick-up in real earnings growth in recent months, the Resolution Foundation said household incomes had declined by 0.5% in the period from 2016-17 to 2018-19. Continue reading...
  
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