Financial news

• Mark Carney: dollar is too dominant and could be replaced by digital currency

  23-08-2019 21:01
  Bank of England governor says stockpiling dollars has become a barrier to global tradeThe Bank of England governor, Mark Carney, has challenged the dollar’s position as the world’s reserve currency, arguing that it could be replaced by a global digital alternative to end a savings glut that resulted in 10 years of low inflation and ultra-low interest rates.Likening the move to the end of sterling’s command of international money markets 100 years ago, Carney said the dollar had
  
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• The Guardian view on the global economy: opportunities wasted | Editorial

  23-08-2019 19:30
  The G7 summit in Biarritz this weekend will fail to rise to any of its urgent challengesRarely has there been more need of collective action on the world’s problems than at the G7 summit hosted by Emmanuel Macron in Biarritz this weekend. Rarely have the chances of success appeared so miserably low. The G7 is supposed to be the forum where the west’s leading nations get to grips with thorny economic and political issues, and even though life has moved on since a previous French presi
  
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• British Airways pilots to strike for three days in September

  23-08-2019 18:36
  Airline says industrial action over pay will disrupt plans of ‘tens of thousands’ of passengersPilots at British Airways will go on strike for three days in September after talks failed to settle a long-running pay dispute, the union has announced.The pilots will take industrial action on 9, 10 and 27 September in a move that BA said was likely to disrupt the plans of “tens of thousands” of passengers. Continue reading...
  
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• Ann Summers chief criticises landlords over high rents

  23-08-2019 18:32
  Jacqueline Gold wins rent reductions on 95 of 100 stores but CVA remains an optionThe Ann Summers chief executive has accused some retail landlords of “burying their heads in the sand” by ignoring the crisis on the high street, after several refused to accept lower rents to support the chain.The sex toys and lingerie specialist has been struggling during a high street downturn. The Guardian revealed in May that it wanted to reduce its rent. Continue reading...
  
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• Greening your life is all very well – but only a global climate strategy will fix this | Larry Elliott

  23-08-2019 18:23
  The blaze in the Amazon shows the need for a green Marshall plan to allow poorer parts of the world to benefit from low-carbon techJudging by the latest opinion polls, the public is ripe for some green austerity. Ipsos Mori says that 85% of Britons are concerned about climate change, with 52% admitting they are very concerned. These are the highest figures since the pollster started tracking opinion in 2005. Given the spate of extreme weather-related events, and the pictures of the torching of t
  
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• Pound US dollar exchange rate subdued as Powell addresses Jackson Hole summit

  23-08-2019 18:08 via feedproxy.google.com
  THE GBP/USD exchange rate is currently trading at $1.2217, edging down from this morning’s opening levels.
  
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• Eddie Stobart suspends trading in its shares after accounting error

  23-08-2019 17:45
  Haulage company stuns investors as chief executive stands down immediatelyEddie Stobart, best known for its 2,700 green and red trucks plying Britain’s motorways, has stunned investors by suspending trading in its shares after an accounting investigation found profits had been overstated.The company said there was a £2m error in its 2018 accounts, and that profits for the first half of 2019 would be “significantly lower” than forecast. Its chief executive, Alex Laffey, wi
  
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• Let’s move to West Kirby, Merseyside: a monument to the way things used to be

  23-08-2019 17:29
  With bowling greens and municipal parks skirting the prom, this town should be preserved in its entirety as a monument to traditional aspirationWhat’s going for it? Time was when the English middle classes were content with a semi, an extramarital affair and reasonable access to a golf course. Now it’s all cold-pressed drip coffee and single-estate mint chocs. West Kirby is a veritable vision, though, of the way things used to be (I can’t, however, vouch for its marriages, one
  
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• The end of a scandal: banks near a final release from their PPI liabilities

  23-08-2019 17:00
  As the deadline approaches, the loss of payouts will have a big impact on the claims industry – and, some fear, the economyIt’s a date that some in Britain have been dreading, but that for others can’t come too soon. No, not 31 October, the Brexit date, but 29 August – the final deadline for complaints about payment protection insurance (PPI).At 11.59pm this coming Thursday, the UK’s financial regulators will bring down the shutters on Britain’s costliest ever
  
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• Pound euro exchange rate: GBP/EUR falls as doubts increase on UK-EU Brexit compromise

  23-08-2019 15:51 via feedproxy.google.com
  After storming higher yesterday the pound euro exchange rate is holding steady at €1.105 as doubts return to the Brexit forum, despite Prime Minister Boris Johnson’s unexpectedly successful visit to Europe. Although French President Emmanuel Macron was initially forthcoming in his proposals for a possible EU compromise over the Irish backstop, he then countered his previous optimism, describing the backstop as “indespensable”.
  
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• Can tax allowance be transferred to spouse? How some couples could save £1,150 in tax

  23-08-2019 15:38 via feedproxy.google.com
  TAX allowances allow taxpayers to keep more of their income, rather than it being subject to Income Tax. Can the Personal Allowance be transferred to one’s spouse?
  
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• Who can open a Lifetime ISA? Age affects eligibility - but what is the limit for account?

  23-08-2019 14:58 via feedproxy.google.com
  LIFETIME ISAs are a way of saving money for many people. Who can open a Lifetime ISA? This type of ISA has an age limit.
  
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• State pension age: DWP rules out rise to age 75 - but how is state pension age changing?

  23-08-2019 14:57 via feedproxy.google.com
  STATE PENSION age changes were the subject of a think tank report released last week, with the Centre for Social Justice proposing the age being increased to 75 in the future. Now, the Department for Work and Pensions has confirmed that there are no plans to increase the age to 75.
  
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• Cheap mortgage: Why cheap rates may not always be best deal - watch out for two key words

  23-08-2019 14:56 via feedproxy.google.com
  CHEAP mortgages are something which many people may seek, in the hopes of becoming homeowners without unnecessarily shelling out one’s hard-earned cash. However, a mortgage expert is warning that cheap mortgage rates may not always result in the best deal.
  
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• The next global recession will be immune to monetary solutions | Nouriel Roubini

  23-08-2019 14:42
  Unlike in 2008, we now face the consequences of three potential negative supply shocks There are three negative supply shocks that could trigger a global recession by 2020. All of them reflect political factors affecting international relations, two involve China, and the United States is at the centre of each. Moreover, none of them is amenable to the traditional tools of countercyclical macroeconomic policy.The first potential shock stems from the Sino-American trade and currency war, which es
  
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• Universal credit bank holiday payments: When will you receive benefit?

  23-08-2019 14:09 via feedproxy.google.com
  UNIVERSAL CREDIT claimants could see the date for their payment change over the Bank Holiday. When will you receive your benefit?
  
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• Peaky Blinders fever: from David Beckham-backed clothing to a two-day festival

  23-08-2019 14:00
  As the BBC’s cult gangster drama returns, superfans help to take the brand globalGet set for peak Peaky Blinders as the return of the cult gangster drama heralds a global expansion, from a dapper clothing range backed by David Beckham to books, video games and its own two-day festival.The eagerly awaited fifth series of the Birmingham-set show returns on Sunday, making its debut on BBC1, the country’s most-watched channel – a testament to its elevation to crown jewel status alo
  
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• Royal Bank of Scotland and Santander rebuked for breaking PPI rules

  23-08-2019 13:57
  Days before mis-selling scandal deadline, regulator says correct reminders were not sentRoyal Bank of Scotland and Santander have been have been ordered to appoint independent auditors to monitor their payment protection insurance (PPI) systems after they were found to have breached competition rules for the second time.The Competition and Markets Authority said the banks had breached orders requiring them to send legally-binding annual reminders to customers who still have the right to cancel t
  
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• Asian billionaires embark on UK spending spree as pound nosedives

  23-08-2019 13:45
  China and Hong Kong’s super-rich buy up everything from skyscrapers to private schoolsChina’s president, Xi Jinping, and David Cameron famously sealed their countries’ “golden era” friendship in 2015 over a pint of Greene King IPA at the Plough at Cadsden, a five-minute drive from the then prime minister’s Chequers country residence.They were clearly a nice couple of pints. A year later the Chinese investment firm SinoFortone bought the 16th-century pub for &p
  
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• Greggs working on vegan versions of all its bestselling foods

  23-08-2019 13:05
  Chief executive says people want more vegan options, after success of Quorn sausage roll Greggs is working on vegan versions of all its bestselling products, from steak bakes to pasties and doughnuts, as the high-street baker looks to repeat the runaway success of its vegan sausage roll.The Quorn-filled roll, which launched in January, was so successful that Greggs had to increase production to satisfy demand. The sales boom also increased profits, with the business going back to City investors
  
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• Bitcoin WARNING – Donald Trump is taking aim at cryptocurrency… again

  23-08-2019 11:33 via feedproxy.google.com
  BITCOIN is showing signs of weakening under the pressure of mounting criticism from the White House as people are being put off investing in the digital asset. Two months ago, BTC was flying high and looking to build on a drive towards $14,000 with the wind in its sails and a growing trading volume.
  
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• Hasbro buys Peppa Pig owner Entertainment One in £3.3bn deal

  23-08-2019 09:31
  UK-listed firm is latest targeted by a foreign buyer since pound weakened amid Brexit fearsThe US toy company behind My Little Pony and Play-Doh has agreed to buy Peppa Pig for £3.3bn in the the latest foreign takeover of a much-loved British brand for a bargain price following the collapse in the value of the pound over fears of a no-deal Brexit.The sale of Peppa Pig’s owner Entertainment One to Hasbro brings the total value of UK companies to fall into overseas hands in the last tw
  
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• Iain Duncan Smith wants us to work until we drop. But we are not machines | Stefan Stern

  23-08-2019 09:00
  A thinktank chaired by the Tory MP suggests raising the state pension age to 75. But there’s more to long life than removing ‘barriers’ to workWhen Oasis’s Liam Gallagher sang about how he wanted to “live forever” I don’t think he meant putting in some extra shifts at work in his 70s. Many of us are, of course, living longer – if not forever – but ideally we should be able to enjoy this greater life expectancy, not see it as a threat or a phy
  
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• Bitcoin price news: How bitcoin could reach $50,000 SOONER than 2020

  23-08-2019 08:45 via feedproxy.google.com
  BITCOIN reached an all-time high in December 2017, hitting $19,783.06 - but that could have been a drop in the ocean as many crypto analysts predict BTC could reach $50,000 by 2021. Here is why.
  
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• Homes with extra space to let – in pictures

  23-08-2019 08:00
  From a former mill in Cumbria to a Victorian house on the edge of Exmoor, homes to generate an earning Continue reading...
  
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