Financial news

• Bulgarian World Bank chief on brink of winning IMF role

  02-08-2019 22:14
  Hopes of George Osborne dashed as EU states opt for Kristalina GeorgievaThe Bulgarian chief executive of the World Bank, Kristalina Georgieva, has emerged as a disputed victor in a tight battle to be the European nominee to head the IMF, with the UK vainly seeking to champion George Osborne as an alternative.Georgieva gained the support of 56% of the bloc’s 28 member states in a runoff against the former chair of the Eurogroup, Jeroen Dijsselbloem, but the Netherlands and Sweden swiftly in
  
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• RBS to hand £1bn to government despite gloomy outlook

  02-08-2019 18:39
  Taxpayer-backed bank to pay out windfall to shareholders but warns of tough times aheadRoyal Bank of Scotland will hand the government more than £1bn as part of a windfall for shareholders but the payout was overshadowed by the bank’s admission that it would miss its profit targets next year.The taxpayer-backed bank said it would pay a total of £1.7bn in dividends for the first half of its financial year, partly funded by the sale of a stake in a Saudi Arabian bank. The UK gove
  
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• Global markets take fright as Trump ramps up US-China trade war

  02-08-2019 18:22
  US president has threatened to impose a new 10% tariff on $300bn of Chinese goodsWhy is Trump imposing tariffs on China?Financial markets around the world fell sharply after Donald Trump threatened to impose a new tariff on $300bn (£248bn) of Chinese goods in a rapid escalation of the trade war between Washington and Beijing.The FTSE 100 was down more than 2% as markets across Europe tumbled on Friday, continuing a wave of selling pressure around the world in the aftermath of the president
  
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• Is the US chicken industry cheating its farmers?

  02-08-2019 18:21
  Leaked documents reveal remarkable power US poultry industry holds over farmers struggling to stay afloat on thin marginsPoultry firms in the US have access to detailed information about farmers’ pay that gives them extraordinary power over suppliers when negotiating the terms of their contracts, leaked documents have shown.A report for poultry companies produced by a secretive data-sharing firm, reviewed in a joint investigation by the Guardian and the Food and Environment Reporting Netwo
  
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• Heathrow passengers face delays after strike talks break down

  02-08-2019 18:12
  Airport warns of long queues from next week after union ‘overwhelmingly’ rejects offerAir passengers flying from Heathrow on Monday and Tuesday next week have been warned to expect delays and disruption after talks between the airport and trade unions aimed at avoiding strikes broke down.Heathrow warned of longer security queues on 5 and 6 August after a ballot of Unite trade union members pointed to an “overwhelming” rejection of the airport’s latest pay offer to s
  
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• Yes, a no-deal Brexit will hurt the economy. But nobody knows just how much | Anand Menon and Jonathan Portes

  02-08-2019 17:42
  Leaving without a deal is not an event, it’s the start of a process – and Mark Carney is right not to predict its long-term impactPredictions matter, not least because they feed directly into the political debate. We saw this all too clearly in 2016. And apocalyptic predictions matter even more when they don’t come true. The Treasury’s gloom-ridden short-term forecast in May 2016 of the impact of Brexit – not to mention its hysterical portrayal by the Treasury websi
  
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• Let’s move to: Bermondsey, south-east London: a chaotic collage of its eventful past

  02-08-2019 17:30
  Eighty years of change have left a cityscape that looks as if it has been put together by a vigorous game of consequencesWhat’s going for it? Bermondsey has been so pummelled by fortune that it looks as if it has been put together by a vigorous, acid-fuelled game of consequences. The past 80 years, in particular, have been eventful. The blitz, postwar rebuilding, deindustrialisation, the death of the docks and gentrification have left a cityscape that is collaged to a degree perhaps unequa
  
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• Will pet insurance cover a pre existing condition? WARNING issued to avoid void policy

  02-08-2019 16:01 via feedproxy.google.com
  PET INSURANCE may prove to be worthwhile should an animal one cares for require unexpected veterinary bills. Will pet insurance cover a pre-existing condition?
  
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• State pension age for women: Meet the women campaigning after the controversial changes

  02-08-2019 15:59 via feedproxy.google.com
  STATE PENSION age changes first came into effect in 2010, affecting some women born in the 1950s. What are the campaign aims for WASPI and for Back to 60?
  
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• Inheritance Tax: Who can inherit a private pension and will tax need to be paid?

  02-08-2019 15:59 via feedproxy.google.com
  INHERITANCE tax may be required to be paid on a person’s estate once they die, but does this include their private pension fund?
  
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• Can Stamp Duty be delayed? Homeowners could face penalty if they miss the HMRC deadline

  02-08-2019 14:35 via feedproxy.google.com
  STAMP DUTY LAND TAX may be required to be paid upon the completion of a purchase of a property or land. Can Stamp Duty be delayed?
  
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• Why is Trump imposing tariffs on China and how could it affect global economy?

  02-08-2019 14:06
  The US is threatening to impose tariffs on a further $300bn of Chinese goodsMarkets take fright as Trump ramps up US-China trade warGlobal stocks fell sharply on Friday after Donald Trump threatened to impose tariffs on $300bn (£247.6bn) of Chinese goods in a rapid escalation of the trade war between the world’s two biggest economies.Continue reading...
  
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• Pound euro exchange rate eases as Bank of England warns of a no-deal Brexit recession

  02-08-2019 13:20 via feedproxy.google.com
  The pound euro exchange rate dipped this morning, leaving the pair fluctuating around €1.092 after yesterday’s warning from the Bank of England about a possible no-deal Brexit recession in October. BoE Governor Mark Carney said yesterday that leaving the EU without a deal would bring an “instant shock” to the British economy, and could potentially see the pound fall to a 34-year low.
  
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• Goals Soccer Centres to delist in fresh blow for Mike Ashley

  02-08-2019 13:05
  Tycoon has significant stake in football pitch operator that has revealed an accounting scandalMike Ashley has been dealt a fresh blow as Goals Soccer Centres, the struggling five-a-side football pitch operator in which he has a significant stake, is to delist from the London Stock Exchange after revealing an accounting scandal stretching back at least a decade.Goals, which is 19% owned by Ashley’s Sports Direct, has uncovered “improper behaviour” by a number of individuals in
  
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• Bitcoin bounces back after slump to push cryptocurrency above $10,000

  02-08-2019 12:59 via feedproxy.google.com
  BITCOIN’S recent slump is showing all the hallmarks of recovery as the original cryptocurrency makes a solid drive above $10,000 ahead of the weekend. A fortnight-old dip which saw BTC struggle to hold its head above $9k failed to deliver the collapse to sub-$8,000 which was the prediction of several notable analysts.
  
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• Pound US Dollar exchange rate: GBP/USD flat as Brexit ‘nibbles away’ at UK confidence

  02-08-2019 12:13 via feedproxy.google.com
  The pound remains muted against the US dollar today, with the pairing trading around $1.212. However, the pound has recovered slightly from Thursday’s 30-month low against the dollar despite the UK Construction PMI revealing another decline in construction output for July.
  
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• Late Rooms and Super Break collapse hits holidaymakers

  02-08-2019 09:14
  Firms had about 53,000 customers between them, involving 20,000 bookingsThe holiday firms Late Rooms and York-based Super Break have collapsed, affecting more than 50,000 travellers.Malvern Group, which owns the booking website LateRooms.com and Super Break, said about 400 Super Break customers were on holiday in the UK or overseas. Continue reading...
  
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• Five of the best kids’ gadgets for summer holidays

  02-08-2019 09:00
  From tablets to robot toys, here’s some tech ideas to keep the little ones occupied in the long breakWith the summer holidays in full swing you might need a bit of a hand keeping the kids entertained. From tablets and cameras to robot toys and updated old-school favourites, here is a collection of kid-aimed tech to keep the little ones occupied. Continue reading...
  
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• Homes for sale in gatehouses – in pictures

  02-08-2019 08:00
  Properties with an impressive entrance, from Kent to Derbyshire Continue reading...
  
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• Boris Johnson and the housing crisis

  02-08-2019 07:00
  The new PM acknowledges the challenge but housing appears far down the list of prioritiesBoris Johnson has entered 10 Downing Street with Britain suffering from “one of the worst housing crises in the democratic world”. The state of housebuilding is “more catastrophe than crisis”, with the country blighted by “identikit estates”, “nimbyism”, and in the grip of the “big housebuilding corporations”. This may read like a manifesto from cam
  
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• Pinterest shares soar after tech unicorn sees 'blowout quarter'

  02-08-2019 01:59
  Second-ever quarterly earnings report marks tentative success for social networkPinterest shares soared after its second-ever quarterly earnings report exceeded expectations on Thursday, representing tentative success for another Silicon Valley “unicorn”.Pinterest joined a number of other tech “unicorns” – private companies valued at over $1bn – to list on the US stock markets when it filed to go public in March 2019. Its better-than-projected revenue and user
  
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