Financial news

• Funeral homes investigation reveals high prices and unexplained charges

  31-07-2019 20:00
  Choice conducts a national mystery shop and finds many providers don’t explain charges adequatelyAn investigation of funeral providers has found a widespread lack of transparency, with high prices, varying costs and some sellers taking days to provide customers with quotes.A national mystery shop conducted by consumer group Choice found that 14 out of 36 providers did not give customers an estimated cost within 48 hours. And when they did, many gave lump sums, not itemised bills, ranging i
  
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• Holiday chaos looms as attempts by BA to block pilot strikes fail

  31-07-2019 17:47
  Court of appeal dismisses airline’s argument that ballot was invalidStrikes by British Airways pilots could disrupt hundreds of thousands of holidaymakers from August after the airline lost a second legal attempt to block industrial action.The court of appeal on Wednesday upheld last week’s verdict by the high court, which dismissed BA’s claim that the strike ballot was invalid. The pilots’ union, Balpa, can now proceed with planned strikes over pay, as long as it gives t
  
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• Does a local Lidl really bring down house prices?

  31-07-2019 17:29
  Houses near a Waitrose are worth 12% more than average – and now three of its supermarkets have been sold to Lidl. But the discounter’s arrival might not be all bad news …Waitrose has sold off three of its supermarkets to Lidl, sparking a wave of middle-class outrage. It’s not just concern about access to venison meatballs or pistachio ice-cream – residents of Bromley in London, Oadby in Leicestershire and Wollaton in Nottinghamshire apparently fear their house pri
  
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• Late rush in PPI mis-selling claims pushes Lloyds' bill past £20bn

  31-07-2019 10:19
  Bank puts aside more cash as 29 August deadline loomsLloyds Banking Group has put aside more cash to cover a late rush in customers claiming they were mis-sold payment protection insurance, bringing its total bill for the scandal to more than £20bn.The lender took another £550m in PPI charges in the second quarter after a “significant increase” in customers requesting information from the bank in the run-up to the 29 August claims deadline. Lloyds said the queries would l
  
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• What next if a company won’t deliver and won’t cancel?

  31-07-2019 08:00
  Customers who have paid for a delivery are being left empty-handed and out of pocketWhat happens when a company refuses to deliver an item and refuses to cancel the order? Two readers this week have found themselves in this Catch 22 situation when unspecified health and safety issues left them empty-handed and out of pocket. ST from Ashford, Kent writes: Continue reading...
  
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• Bob Geldof's firm's use of tax haven is legal, but the system hurts African nations

  31-07-2019 08:00
  Private equity company 8 Miles channels funds through Mauritius in a ‘depressingly routine’ arrangementAt their closest point, Europe and Africa are just eight miles apart. That’s the inspiration for the name of Sir Bob Geldof’s private equity firm, 8 Miles, set up to channel investment into successful businesses in Africa.But we learned last week that 8 Miles’ cash travels considerably further than this on its way from one continent to the other. It has established
  
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• Young Britons believe dream of owning home is over, survey says

  31-07-2019 07:01
  Santander survey suggests only a quarter of under-34s could own a home by 2026One of Britain’s biggest mortgage lenders has found that 70% of young people now believe that the homeownership dream is over for their generation.Having carried out the largest-ever survey of potential first-time buyers, Santander said its own figures suggest less than 25% of 18- to 34-year-olds will be in a position to buy a home by the year 2026. Continue reading...
  
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• UK's cherry industry bounces back after 20-year hiatus

  31-07-2019 07:00
  Some supermarkets no longer need to import cherries in summer to meet demandThe UK’s cherry industry, which nearly collapsed 20 years ago, has bounced back with predictions of a bumper harvest this year.Cheap imports and high production and labour costs decimated the sector, but British growers are now set to produce about 6,500 tonnes of cherries – double the 3,168 tonnes picked in the UK last year and the highest for nearly 50 years. Continue reading...
  
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• ‘No-deal Brexit talk has hit home hard’ – two experts debate the data

  31-07-2019 07:00
  Two former members of Bank of England’s rate-setting committee on Britain’s economic prospects
  How the Brexit vote affected UK economy - July verdict
  British consumers keep the UK afloatIndependent business economist and member of the Bank of England’s monetary policy committee (MPC) from 2006-11 Continue reading...
  
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• How has Brexit vote affected the UK economy? July verdict

  31-07-2019 07:00
  Each month we look at key indicators to see what effect the Brexit process has had on growth, prosperity and tradeExperts debate the dataBritish consumers keep the UK afloatContinue reading...
  
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• British consumer keeps UK plc afloat as key sectors start to sink

  31-07-2019 07:00
  As a no-deal Brexit looms sterling is starting a steep slide and growth is stallingExperts debate the dataHow the Brexit vote affected UK economy - July verdictThe British consumer is holding up the country’s economic performance but key sectors are showing signs of strain as Boris Johnson threatens to take the UK out of the EU without a deal, according to a Guardian analysis.In a sign of the mounting stress facing the economy, the pound has slumped to the lowest level against the US dolla
  
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• Body of missing Indian coffee tycoon has been found, police say

  31-07-2019 05:00
  VG Siddhartha, founder of Cafe Coffee Day chain, was last seen on bridge in KarnatakaPolice in India have found the body of missing coffee tycoon VG Siddhartha, who was last seen on a bridge in the southern state of Karnataka.Siddhartha, the founder of the Cafe Coffee Day (CCD) chain and one of India’s richest people, was reported missing on Monday by his chauffeur. Continue reading...
  
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• Apple Card: company reveals credit card launching next month

  31-07-2019 03:04
  Payment card to be launched in August, Tim Cook says, as third-quarter earnings beat predictionsApple has announced it will launch its own credit card in August, as iPhone sales continue to fall and the company seeks to diversify its business model.The announcement by the CEO, Tim Cook, came on an earnings call on Tuesday after the company’s third-quarter earnings beat predictions, sending shares up 3% in after-hours trading. The tech company reported a quarterly revenue of $53.8bn, higher
  
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• Dominic Raab to urge firms to focus more on exporting outside EU

  31-07-2019 01:01
  Business reiterates importance of frictionless trade with EU as foreign minister heads to AsiaBusiness groups have stressed the importance of continued frictionless trade with the EU after Dominic Raab used his first overseas trip as foreign secretary to urge UK firms to “raise their game” and focus more on exporting to other regions.Organisations including the CBI and Make UK, which represents the manufacturing sector, said that while British companies had already expanded to countr
  
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• Accountancy fines double to record £32m as regulator gets tough

  31-07-2019 01:01
  Fines follow series of accounting scandals symbolised by Carillion collapseFines against accountants more than doubled to a record £32m last year as the regulator cracked down on auditors in an attempt to repair its reputation in the wake of Carillion’s controversial collapse.The penalties imposed mark a significant rise from the £13m in fines handed out by the Financial Reporting Council over the 2017-18 financial year. Continue reading...
  
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