Financial news

• UK tech pioneer conjures new future for farming out of thin air

  12-08-2019 23:24 via feedproxy.google.com
  Change is in the air for agriculture and indoor farms developer LettUs Grow is breaking new ground with a system that produces more plants more quickly by growing their roots only in a nutrient-rich mist. A pioneer within the field known as aeroponics, this air-based method uses 95 percent less water than conventional farming.
  
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• National Grid 'had three blackout near-misses in three months'

  12-08-2019 21:08
  Exclusive: Industry sources say system operator aware of growing potential of blackouts ‘for years’What are the questions are raised by the UK’s recent blackout?National Grid had experienced three blackout “near-misses” in as many months before Friday’s major outage left almost a million homes in the dark and forced trains to a standstill around the UK.The system operator, already under investigation by the energy watchdog, faces criticism from within the indu
  
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• Argentinian peso plunges as centre-left win election primary

  12-08-2019 20:24
  Investors spooked by prospect of populist left-leaning administration in Buenos AiresArgentina’s currency plunged on Monday after the country’s centre-left opposition leader won an election primary, raising the prospect of a return to power for the former president Cristina Fernández de Kirchner.A stronger than expected victory for Alberto Fernández, whose running mate is the former populist leader, triggered a 30% fall in the value of the peso, which hit a fresh record
  
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• Saudi Aramco ready for record $2tn IPO after first-half results

  12-08-2019 19:56
  Profits fell 12% but company still ahead of world’s six biggest listed oil producers combinedSaudi Arabia’s state-owned oil group is ready to move ahead with a record $2tn (£1.7tn) market float after revealing profits of $46.9bn for the first half of this year.Saudi Aramco’s profits for the six months ending in June were down from $53.2bn in the first half of last year owing to lower oil prices, but were still well ahead of the world’s six biggest listed oil compani
  
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• Cauliflowers dwindle in UK as extreme weather takes its toll

  12-08-2019 19:56
  Wholesale prices rise by 400% as restaurants advised to take cauliflower-related meals off menusBritain is in the grip of a cauliflower crisis, with supermarket shelves emptying after heavy rain destroyed this year’s crop in Lincolnshire, while alternative European supplies are drying up after the continental heatwave.Tesco only has organic cauliflowers left for sale on its online site, telling buyers that standard single cauliflowers and large cauliflowers are not available. Continue read
  
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• Could devaluation of China's yuan trigger the next financial crisis? | Larry Elliott

  12-08-2019 19:36
  Anyone looking around for bad economic news in this ‘silly season’ is spoilt for choiceEvery now and then, August belies its reputation as a sleepy month when nothing happens and throws up an event that shakes financial markets.The Latin American debt crisis began in August 1982; oil prices soared after Iraq invaded Kuwait in August 1990; the Asian debt crisis had its genesis in the same month in Thailand seven years later. Then there are the crises that simmer away in August and fin
  
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• Pound euro exchange rate: Italian 'Quitaly' fears help GBP/EUR recover from 10-year low

  12-08-2019 18:07 via feedproxy.google.com
  The pound euro exchange rate edged higher today, with the pairing fluctuating around €1.080 as Eurosceptic Italian Interior Minister, Mateo Salvini, continues to push for a snap election, further exacerbating political turmoil in the European Union. Italy’s former Prime Minister Enrico Letta has also warned that Matteo Salvini could withdraw Italy from the EU: “One day, he can say he wants Europe, the next that he wants to leave.
  
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• SNP set to nationalise last civilian shipbuilder to save ferry contracts

  12-08-2019 17:30
  Scottish government to step in at Ferguson Marine as dispute over costs threatens closureThe Scottish government is expected to nationalise the last civilian shipbuilder on the Clyde this week in an effort to save two high-profile ferry contracts.Derek Mackay, the Scottish finance secretary, said ministers were likely to take over running Ferguson Marine Engineering from its owner later this week following a long dispute about cost overruns on two passenger ferries. Continue reading...
  
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• Pound US dollar exchange rate: GBP/USD steady as MPs plot to prevent a no-deal Brexit

  12-08-2019 17:29 via feedproxy.google.com
  The GBP/USD exchange rate is currently trading at $1.206, up roughly 0.3 percent from this morning’s opening levels. The pound is trending higher against the US dollar and the majority of its other peers this morning as reports suggest MPs are looking for alternative ways to block a no-deal Brexit.
  
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• Bitcoin plastic REVOLUTION: Banks allow credit card cryptocurrency sales in just 2 YEARS

  12-08-2019 16:57 via feedproxy.google.com
  Banks will lift the ban on buying cryptocurrency with credit cards before 2022, claims a tech billionaire. Mike Novogratz, the founder of crypto firm Galaxy Digital, told Bloomberg that major players like Visa and Mastercard will soon allow crypto enthusiasts to invest in coins on their cards.
  
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• Dr Martens' profits up 70% with success of new 'vegan' range

  12-08-2019 16:15
  Equity investor Permira weighs up sale or flotation to realise profits on £300m investmentProfits at Dr Martens surged by 70% in the year to the end of March, boosted by the success of designs such as its “vegan” range of boots.Online sales also rose by two-thirds to £72.7m, accounting for 16% of total revenues for the company, which is expanding to international markets. Continue reading...
  
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• More than half of people aged 65 and over now shop online – ONS

  12-08-2019 15:17
  Four in five Britons make online purchases, with 44% spending £100-£499 over three monthsThe online shopping revolution has officially become mainstream among the once tech-resistant generation aged 65 and over, with more than half now saying they shop online.A report by the Office for National Statistics found four in five Britons said they shopped online, up from three-quarters last year. This year also marks a generational milestone, with more than half of people aged 65 and above
  
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• Britons' fear of unemployment spikes in last five years

  12-08-2019 14:57
  ONS survey reveals increasing job insecurity as Brexit looms and risks of recession mountBritish households are more worried about losing their jobs than at any time in the past five and a half years, according to official figures, in a sign of the pressure on workers across the country.Despite unemployment falling to the lowest point since the mid 1970s, the Office for National Statistics said people’s expectations for rising joblessness in the year ahead have been climbing. Continue read
  
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• Proposed salmon farm raises environmental concerns in Hebrides

  12-08-2019 14:46
  Scottish Natural Heritage warns of potential ‘significant effects’ on birds and marine lifeSignificant environmental concerns have been raised about plans to build a large salmon farm just off the coast of Canna, a tiny Hebridean island near Skye.Mowi, the world’s largest salmon producer, has tabled outline plans to install eight fish farm cages to grow thousands of tonnes of organic salmon in one of the most environmentally protected areas of sea in the UK. Continue reading...
  
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• Is a British university degree really worth it any more?

  12-08-2019 13:06
  We run the rule over UK higher education, as school leavers prepare for their A-level resultsThere are about 140 universities in the UK. It depends on your definition of a university: if it stretches to any public institution with degree-awarding powers, then the number rises to 164, according to Higher Education Statistics Agency (Hesa) data. A small number of private providers can also award degrees. Continue reading...
  
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• City regulator intervenes as Burford alleges market manipulation

  12-08-2019 12:15
  Litigation finance firm hits back after attack by Muddy Waters hedge fundThe City regulator has begun “wide-ranging inquiries” following the US hedge fund Muddy Waters’ attack on the UK-listed Burford Capital last week that sent its shares plummeting by 65% in 24 hours.In what is fast becoming one of the most extraordinary financial battles in recent years, Muddy Waters – a so-called short seller, which makes money when share prices fall – made a string of accountin
  
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• Pound tanks to LOWEST level against euro in 10 years amid warning of UK recession

  12-08-2019 11:47 via feedproxy.google.com
  THE Pound has tanked to its lowest level against the euro in ten years amid warnings the UK is heading for a recession over a no deal Brexit.
  
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• My little summerhouse has upset my neighbour. Do I need planning permission for it?

  12-08-2019 08:00
  I’d intended to use my 2.4m by 2.1m building as a painting studio. I don’t want to get into an argument, but the complaint is spoiling my enjoyment of itQ I have recently had installed a small 2.4m x 2.1m summerhouse at the bottom of our terraced garden. The height is less than 2.5m. I wanted to use the building to enjoy our garden and as a painting studio.Unfortunately my neighbour is unhappy about it. She says the windows face her kitchen and bedroom. I can’t actually see int
  
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• Hey Google, lend me a tenner? NatWest trials voice banking

  12-08-2019 07:01
  High street bank says Google Home trial could let you do the banking as you make a cuppa or iron a shirtGet ready to say: “Hey Google. How much do I have in my bank account?” NatWest is to begin voice-only banking that will give customers direct access to their accounts by talking to the Google Home smart speakers now in millions of British homes.The trial – the first by a UK high street bank – will let customers ask Google “What’s my balance?”, “W
  
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• City urged to attach 'climate risk' reports to pensions

  12-08-2019 07:01
  MPs want mandatory climate reporting within three years to avoid risk to investmentsBritain’s biggest companies, investors and pension funds must come clean to investors on the financial risks they face due to the climate crisis, MPs have said.The environmental audit committee (EAC) has called for the City of London to face mandatory climate reporting within the next three years to avoid jeopardising hundreds of billions of pounds worth of pension savings. Continue reading...
  
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• More holidays and better pay would boost productivity, says thinktank

  12-08-2019 01:02
  New Economics Foundation says putting money in workers’ pockets will raise productivityGiving workers more public holidays and raising their wages could boost the strength of the British economy, according to a report.The New Economics Foundation said that driving up the spending power of consumers would give firms a greater incentive to raise their productivity, as they could have greater confidence there would be demand for their products and services. Continue reading...
  
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• Britons have spent £4bn stockpiling goods in case of no-deal Brexit

  12-08-2019 01:01
  Research suggests one in five people have a food, drinks and medicine hoard worth £380Britons have spent £4bn stockpiling goods in preparation for a possible no-deal Brexit, new research suggests.One in five people are already hoarding food, drinks and medicine, spending an extra £380 each, according to a survey by the finance provider Premium Credit. The survey found that about 800,000 people have spent more than £1,000 building up stockpiles before the 31 October Brexit
  
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