Financial news

• British pensioners in Europe struggle to make ends meet, committee told

  22-10-2019 18:34
  Retirees suffer ‘real hardship’ and fear Brexit will impoverish them further, says Jeremy Morgan QCRetired Britons in Europe are not sipping prosecco on a warm terrace but are struggling to make ends meet and fear further poverty because of Brexit, a parliamentary committee has been told.Jeremy Morgan QC said retirees in the EU living exclusively or almost exclusively on British pensions have already suffered a decrease in their income because of the depreciation in sterling since th
  
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• Seeking a butler who acts just like Jeeves – is this the worst job ad ever?

  22-10-2019 18:06
  An ad posted by a wealthy Russian family asks for a butler who can ‘solve any issue’, is familiar with Jeeves and Wooster – and isn’t a Libra or AriesButlering doesn’t exactly look like fun. When Buckingham Palace posted a recruitment advert for a butler last week, it made the job sound absolutely gruelling. Not only was it a seven-day, 45-hours-a-week position, but the salary paid almost £1.60 an hour less than the London living wage. You would have thought t
  
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• Energy suppliers to face tougher financial checks

  22-10-2019 17:44
  Ofgem considers barring fast-growing UK firms from taking on too many customersEnergy suppliers could be blocked from taking on too many customers under proposals designed to ensure fast-growing companies are financially fit to handle expansion.Ofgem, the industry regulator, plans to run financial health checks on growing energy startups before they reach a certain number of customers after more than a dozen company failures in the sector in the past two years. Continue reading...
  
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• WeWork boss to walk away with $1.7bn after SoftBank rescue deal

  22-10-2019 15:09 via theguardian.com
  Payout comes as US office-sharing company weighs up sacking about 2,000 peopleWeWork’s co-founder Adam Neumann has reportedly signed a $1.7bn deal to step back from the troubled office rentals company he founded.The move comes as the board of WeWork meets to consider a rescue plan worth almost $10bn (£7.7bn) from its biggest investor, Japan’s SoftBank. Continue reading...
  
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• Pro-deal MPs try to force Johnson to seek EU customs union

  22-10-2019 14:23 via theguardian.com
  At least five MPs put names to amendment that could result in PM pulling EU billLatest Brexit news – live updatesBoris Johnson could see his Brexit legislation amended to require him to negotiate a customs union with the EU, after at least five pro-deal MPs said they would support this option.The MPs – two former Conservatives, Nick Boles and Ken Clarke, plus at least three pro-deal Labour MPs, Melanie Onn, Gareth Snell and Ruth Smeeth – have put their names to a measure giving
  
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• Accountancy profession 'complicit in Thomas Cook failure'

  22-10-2019 13:58 via theguardian.com
  Rachel Reeves, chair of business committee, says legal reform neededThe chair of an influential parliamentary committee has launched a blistering attack on the accounting industry, accusing it of being complicit in the failure of Thomas Cook, Carillion and other firms and called for urgent reform of the sector.Rachel Reeves, who chairs the business, energy and industrial strategy committee, said: “I wonder how many more company failures, how many more egregious cases of accounting do we ne
  
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• Berlin state cabinet agrees five-year rent freeze

  22-10-2019 13:32 via theguardian.com
  Proposal to counter rising housing costs still requires approval by state parliamentBerlin’s state cabinet has agreed on a rent freeze for five years to counter rising housing costs in the German capital.The city’s leftwing coalition government wants to freeze the rent for apartments built before 2014, according to a report by the German news agency dpa. Continue reading...
  
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• Ban on UK flights to Sharm el-Sheikh lifted after four years

  22-10-2019 13:21 via theguardian.com
  Flights to Egyptian resort were stopped after Russian airliner was brought down by bombBritish holidaymakers could be soon returning to Sharm el-Sheikh after the UK government lifted restrictions on flights to the Egyptian resort.Commercial flights to the airport were banned in November 2015, soon after a Russian Metrojet airliner that had departed from Sharm el-Sheikh was brought down. Continue reading...
  
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• UK to use £1bn meant for green energy to support fracking in Argentina

  22-10-2019 13:04 via theguardian.com
  Documents show government’s plans to prioritise support of major oil companiesThe UK is planning to invest in Argentina’s controversial oil shale industry using a £1bn export finance deal intended to support green energy, according to government documents seen by the Guardian.UK Export Finance, the government’s foreign credit agency, promised in 2017 to offer loans totalling £1bn to help UK companies export their expertise in “infrastructure, green energy and
  
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• Javid's budget plans under pressure after borrowing increase

  22-10-2019 12:12 via theguardian.com
  Chancellor hit by spending squeeze as borrowing climbs by a fifth in run-up to BrexitLatest business news – live updatesThe chancellor has suffered a squeeze on public spending in the run-up to next month’s budget after an increase in borrowing to £9.4bn in September.A spending upturn across Whitehall departments and the rising costs of the winter fuel allowance for pensioners pushed borrowing beyond last September’s £8.8bn, knocking Sajid Javid’s plans to inj
  
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• Just Eat in £4.9bn takeover battle as Prosus makes hostile bid

  22-10-2019 11:31 via theguardian.com
  Bid rejected as online food delivery group presses ahead with merger with Takeaway.com A £4.9bn takeover battle has broken out for the food delivery group Just Eat as the investment group Prosus launched an all-cash offer in an attempt to break up Just Eat’s merger with its Dutch rival Takeaway.com.Prosus, which is part of South Africa’s Naspers, a large tech investing group, has held talks with Just Eat but has not reached an agreement on terms, so has gone direct to the share
  
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• The high-welfare dairy farm that produces Britain's best milk - video

  22-10-2019 09:01 via theguardian.com
  Jess Vaughan and her father Mike run Jess’ Ladies Organic Farm Milk, based at Hardwicke Farm in Gloucestershire. Their ‘ladies’ are their dairy cows, a well-cared for, 75-strong herd whose welfare is the key to the farm’s acclaimed milk, cream and kefir. Says Jess: “They have to be relaxed, to be happy cows, to produce high quality milk.” Jess’ Ladies Organic Farm Milk won Best Producer at the OFM Awards 2019 Continue reading...
  
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• Missing out my middle name cost £259 on airline ticket

  22-10-2019 08:01 via theguardian.com
  The name on my passport did not exactly match the ticket which only showed my first and last nameI recently flew from Albania to Italy on a Blue Panorama/Albawings flight booked through Kiwi.com. The day before the flight, I received an email saying that online check-in was not permitted and I would have to do it once at the airport.When I got there, I was told I could not check in because my passport did not match the ticket, which only showed my first name and surname. The Albawings helpdesk i
  
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• Macy's becomes biggest US retailer to end fur sales

  22-10-2019 03:55 via theguardian.com
  Humane Society applauds move as department store joins companies, cities and states rejecting real fur clothingMacy’s has announced it will end the sale of fur across its stores, notching a major win for animal rights activists.The US retailer joins a growing number of brands, cities and states turning away from the use of products made with animal fur. Prada, Ralph Lauren, Gucci and Burberry have already dropped real fur. Continue reading...
  
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