Financial news

• M&S struggles to change its spots with clothing range issues

  06-11-2019 20:38 via theguardian.com
  
  Not enough orders, slow-moving lines, misaligned profile … shareholders will despair if M&S keeps making same mistakesMarks & Spencer is undergoing “far-reaching change”, or so it says, but some things remain familiar. There is always a problem with the clothing ranges.At the same stage a year ago, M&S confessed that Holly Willoughby’s “must-have” items were a big hit but it hadn’t ordered enough of them. Now it says it’s been stuck wi
  
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• Reject Wetherspoon report over pro-Brexit outlay, investors told

  06-11-2019 20:21 via theguardian.com
  Advice from influential Pirc group cites concerns over spending and sustainability JD Wetherspoon investors should vote against the company’s annual report at its shareholder meeting because of the pub chain’s spending on pro-Brexit materials, according to an influential shareholder advisory group.Pensions & Investment Research Consultants (Pirc) said shareholders should oppose Wetherspoon’s annual report after the Guardian raised questions about the company’s spendin
  
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• Scrap tax relief used by Britain's richest, urges former HMRC head

  06-11-2019 20:16
  
  Sir Edward Troup calls for UK election victors to abolish entrepreneurs’ break which cuts capital gains tax to 10%The former head of HM Revenue and Customs has called on the government to scrap a controversial tax break designed to help entrepreneurs, which he said was costing the country £2bn a year in lost tax yet provided “no incentive for real entrepreneurship”.Sir Edward Troup, who was executive chair of HMRC from 2016 until January 2018, said whichever party won the
  
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• Virgin Media agrees five-year mobile deal with Vodafone UK

  06-11-2019 19:58 via theguardian.com
  Services will start moving across in late 2021, ending 20-year relationship with BTVirgin Media has agreed a five-year mobile deal with Vodafone after deciding not to renew its agreement with BT.The deal, which will involve more than 3 million mobile customers, ends a 20-year relationship between Virgin Media and BT-owned EE. Continue reading...
  
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• Court documents reveal Facebook sold a rival-squashing move as privacy policy

  06-11-2019 19:48 via theguardian.com
  Documents from a 2015 lawsuit allege that the tech giant’s policies were anticompetitive and misrepresented to the publicFacebook Inc began cutting off access to user data for app developers from 2012 to squash potential rivals while presenting the move to the general public as a boon for user privacy, according to court documents reviewed by Reuters and NBC.Some executives at the world’s biggest social network appeared to refer to the strategy of promoting a privacy-focused explanat
  
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• Devon's Appledore shipyard close to reopening

  06-11-2019 17:37 via theguardian.com
  Historic yard could reopen as early as December if deal is secured at talks, say sourcesThe Appledore shipyard in Devon is close to reopening, 12 months after its 164-year shipbuilding history appeared to have come to an end.The shipyard could reopen as soon as December if a deal is secured, although the terms may not be finalised for a fortnight or more, the Guardian understands. Continue reading...
  
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• Which big names have fallen victim to the high street crisis?

  06-11-2019 14:40 via theguardian.com
  Thousands of jobs have been lost and hundreds of stores closed as retail slowdown bitThousands of high street jobs have been lost this year as a result of administrations and thousands more are at risk as Mothercare, Debenhams and Forever 21 prepare for closures. Among the big high street names affected are: Continue reading...
  
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• Nichola Pease to join firm husband's hedge fund is betting against

  06-11-2019 14:32 via theguardian.com
  Odey Asset Management holds short position on Jupiter, which has appointed Pease as chairNichola Pease, a high-profile investment manager, has been appointed chair of a fund management company her husband’s hedge fund is betting against.Jupiter Fund Management said Pease would replace Liz Airey from 2 March. According to the latest Sunday Times rich list, Pease and her husband, Crispin Odey, have a combined fortune of £775m. Continue reading...
  
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• Reverse nepotism: is David Cameron's reputation affecting Samantha's dress sales?

  06-11-2019 14:21 via theguardian.com
  The ex PM’s wife reckons her new fashion label, Cefinn, is being held back by our feelings towards that bloke in her shedName: Reverse nepotism.Age: Very recent. Continue reading...
  
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• Help To Buy ISAs: First time buyers should open ISA NOW before scheme ends, expert warns

  06-11-2019 11:39 via feedproxy.google.com
  HELP TO BUY ISAS can currently be opened by new savers, if they’re eligible for one, however the deadline for doing this is approaching. When does the Help to Buy scheme end? A finance expert has urged savers to take advantage of government schemes in order to get on the housing ladder.
  
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• State pension: When will I get my state pension over Christmas? Day depends on one factor

  06-11-2019 11:01 via feedproxy.google.com
  STATE PENSION payments are made in arrears, usually every four weeks. The date one’s state pension is paid depends on one particular factor - but when will they get their state pension payment over Christmas?
  
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• 'I had breakdowns': recovering from the 2018 government shutdown as another looms

  06-11-2019 11:00 via theguardian.com
  Oyawele Dumas’s reduced earnings as a childcare provider marred her credit and forced her to hustle for other jobsIt has been almost a year since Donald Trump shut down part of the US government for 35 days – the longest period in US history – because it wouldn’t fund the border wall he once said Mexico would pay for. But to Oyawele “Oya” Dumas, it could have been yesterday. Continue reading...
  
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• SoftBank boss takes blame for £5bn loss after WeWork investment

  06-11-2019 10:38 via theguardian.com
  Masayoshi Son ‘reflecting deeply’ after Japanese tech investor’s first quarterly loss in 14 yearsThe billionaire boss of SoftBank Group has admitted to poor judgment in trusting former WeWork chief executive Adam Neumann, after the plunging valuation of the office space company pushed the Japanese tech investor to a 704bn yen (£5bn) quarterly loss.SoftBank’s first quarterly loss in 14 years comes after a dreadful quarter for the tech companies backed by Masayoshi So
  
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• Ofcom selects Melanie Dawes as chief executive

  06-11-2019 10:24 via theguardian.com
  Most senior woman in the civil service poised to join UK media and telecoms regulatorOfcom has chosen Melanie Dawes, one of the UK’s most senior civil servants, to be its new chief executive, the Guardian can reveal.The 53-year-old, the most senior woman in the civil service, is currently permanent secretary at the Ministry of Housing, Communities and Local Government, which she took over from Bob Kerslake in 2015. Continue reading...
  
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• Marks & Spencer profits plunge as clothing sales continue to fall

  06-11-2019 09:10 via theguardian.com
  Food halls return to growth as retailer cuts prices and introduces new rangesWhich big names have fallen victim to the high street crisis?Marks & Spencer has reported a fresh slump in clothing sales as poor levels of availability in its stores were compounded by an out-of-date supply chain.The chief executive, Steve Rowe, blamed the 5.5% decline in like-for-like clothing sales on buying errors that meant popular sizes sold out too quickly. A new design team was shedding its womenswear’
  
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• Universal Credit adverts banned as watchdog rules the government ads ‘misleading’

  06-11-2019 08:56 via feedproxy.google.com
  UNIVERSAL CREDIT: The Advertising Standards Authority has ruled that a number of claims in the Department for Work and Pensions series of “myth-busting” advertisements about Universal Credit earlier this summer were misleading.
  
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• Online banking warning: 'Much harder to recover money' This transaction could signal scam

  06-11-2019 08:50 via feedproxy.google.com
  ONLINE banking is something many people do on a regular basis, from checking their bank statement to transferring funds. Some top tips on staying safe online have been shared in a bid to stay secure when shopping or banking on the internet.
  
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• John Lewis customer service was a complete washout

  06-11-2019 08:00 via theguardian.com
  A ‘war of attrition’ broke out after a new washing machine it fitted leaked and caused damageWe bought and had installed a John Lewis washer-dryer a month ago. Within two days, water leaked from the fitting into the downstairs flat. We filed our complaint, then had a local plumber come around to fix the leak. We assumed John Lewis would cover the cost of the repair and the damage. That’s why we chose to pay extra and shop with John Lewis: for peace of mind.Continue reading...
  
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• America needs to seriously tax the rich – I should know, I'm one of them | George Zimmer

  06-11-2019 08:00 via theguardian.com
  As a member of the Patriotic Millionaires organization I’ve seen how our system perpetuates gross inequality but now I’m a proud ‘traitor to our class’If Donald Trump really wants to make America great again, he’d do what our country did when it was at the height of its economic stability and equality: increase the top income tax rate to 90%. Related: The IMF thinks carbon taxes will stop the climate crisis. That's a terrible idea | Kate AronoffContinue reading...
  
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• UK betting firms commit to five pledges for safer gambling

  06-11-2019 07:00 via theguardian.com
  Ten groups agree voluntary measures in attempt to avoid regulations being imposedThe UK betting industry has devised five safer gambling commitments, as the embattled sector attempts to avoid having new regulations imposed on it by central government.The announcement comes in the same week that shares in UK gambling firms lost nearly £1.2bn in value, after the Guardian revealed that MPs had recommended curbs on online casino games worth more than £2bn a year to the industry. Continue
  
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• Airport caviar outlets failing to warn fliers on customs limits

  06-11-2019 07:00 via theguardian.com
  Exclusive: staff at one chain gave incorrect advice on how much can be taken outside EUStaff at gourmet seafood bars in airports including Heathrow and Gatwick have been allowing passengers to buy potentially illegal amounts of caviar for travel, the Guardian has found. Caviar – eggs from endangered sturgeon and paddlefish – is a restricted product under rules governing worldwide trade, with a personal allowance of 125g for most international travel. Continue reading...
  
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• Boeing 737 cracks: Ryanair grounds three planes due to cracking between wing and fuselage

  06-11-2019 06:00 via theguardian.com
  Exclusive: budget Irish carrier is the latest airline worldwide to be affected by ‘pickle fork’ cracking, but has not disclosed the problemAt least three Ryanair Boeing 737s have been grounded due to cracks between the wing and fuselage but this was not disclosed to the public, the Guardian can reveal.The budget Irish airline is the latest to be affected by faults in the “pickle fork” structure, which has sparked an urgent grounding of 50 planes globally since 3 October.
  
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• Income Tax mapped: The UK towns paying highest Income Tax revealed - is yours on list?

  06-11-2019 05:01 via feedproxy.google.com
  INCOME TAX rates increase in different bands, with certain levels of income being taxed at different rates. Which towns in the UK are paying the highest levels of Income Tax?
  
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• Watchdog bans DWP's 'misleading' universal credit adverts

  06-11-2019 01:01
  
  ASA found claim that people could move into work faster on UC to be unsubstantiatedA series of government ads extolling the virtues of universal credit and purporting to bust negative myths about the flagship Conservative welfare policy has been banned because it is “misleading”.In an embarrassing indictment of the policy before next month’s general election, the Advertising Standards Authority (ASA) found that a claim that people moved into work faster on universal credit (UC)
  
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