Financial news

• Labour’s socialism would take Britain back to 1970s ‘suffering’ - 'Piles of rubbish!'

  08-11-2019 23:36 via feedproxy.google.com
  
  THE LABOUR PARTY’s socialist plans would take Britain back to the 1970s where the country was “suffering” from strikes, a tax expert warned Express.co.uk.
  
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• The Guardian view on boosting maternity leave: from small beginnings | Editorial

  08-11-2019 19:25
  
  Increasing entitlements for mothers will not reduce gender inequality. What’s needed is a rebalancing between work and homeIt is a mark of how much society has moved on that a woman’s right to paid maternity leave, introduced in the UK in 1975, is now taken for granted. That fathers’ rights to time off lag so far behind, meaning that women continue to do the vast majority of unpaid domestic work and earn less money as a result, is a mark of how far we have still to go.Labour&rs
  
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• Pound US dollar exchange rate shaken by potential SNP-Labour coalition

  08-11-2019 19:13 via feedproxy.google.com
  
  The GBP/USD exchange rate is currently trading at $1.2805, trading just shy of a two-week low after the leader of the Scottish National Party, Nicola Sturgeon suggested she would consider a coalition with Labour in order to block a Tory government on December 12.
  
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• Elizabeth Warren helps out 'confused' billionaires with new tax calculator

  08-11-2019 19:00 via theguardian.com
  
  New tool shows how much Bill Gates and friends would pay under Warren’s plan, and guess what: they’ll still be really rich!Billionaires seem to be nervous about the prospect of Elizabeth Warren or Bernie Sanders winning the Democratic nomination for president. On Thursday, the former New York City mayor Michael Bloomberg opened the door to a possible 2020 run – which would make him the second billionaire, alongside Tom Steyer, to finance a run for the White House. A day earlier
  
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• Trump quashes hopes of early resolution to US-China trade dispute

  08-11-2019 18:55 via theguardian.com
  
  US president says reports from Beijing he had agreed to start phasing out tariffs were untrueHopes of an early end to the US-China trade war have received a setback after Donald Trump said he had yet to agree to start reducing tariffs on imports from America’s rival.The US president said that while he was keen on a deal with China, reports from Beijing that he had agreed to start phasing out tariffs were untrue. Continue reading...
  
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• Lawyer accused of money laundering for OneCoin ‘scam’ goes on trial

  08-11-2019 18:52 via feedproxy.google.com
  
  A US lawyer accused of laundering proceeds from the OneCoin cryptocurrency – alleged to be a Ponzi scheme scam – has gone on trial in New York. Mark Scott is accused of laundering approximately $400 million through hedge funds and transferring them back to his colleagues.
  
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• Harrods limits Christmas grotto to £2,000-plus spenders

  08-11-2019 18:19 via theguardian.com
  
  Customers complain London store’s restrictive policy ‘steals Christmas’ from their childrenFather Christmas promises to visit every well-behaved child on 24 December but it turns out that only the children of high-rolling parents are able to visit him in his Swarovski crystal-encrusted grotto in Harrods.The Knightsbridge department store has been accused of “behaving like the Grinch who stole Christmas” by restricting access to its Father Christmas to customers who
  
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• Pound Euro exchange rate: GBP/EUR flat as German exporters provide much-needed relief

  08-11-2019 18:09 via feedproxy.google.com
  
  The pound was left muted against the euro today as German export data provided a sense of relief for the single currency, leaving the pairing trading around €1.160. The pound failed to make any gains against the euro as German exporters reported the largest rise in outgoing trade in close to two years, buttressing the shared currency against Sterling.
  
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• Mamas & Papas closes six stores and cuts nearly 130 jobs

  08-11-2019 18:03 via theguardian.com
  
  Company will continue trading despite collapsing within days of MothercareMamas & Papas is closing six shops and cutting nearly 130 jobs just days after the collapse of its rival Mothercare.The Huddersfield-based baby and maternity retailer collapsed into administration on Friday and was immediately bought back by other firms controlled by Bluegem Capital, its private equity owner. Continue reading...
  
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• Founder of scandal-hit chicken firm returns to lead poultry division

  08-11-2019 17:54 via theguardian.com
  
  Ranjit Singh Boparan had stepped aside after Guardian food standards investigationThe billionaire founder of the country’s largest supplier of supermarket chicken has returned to take day-to-day control of his business empire’s poultry division, less than two years after stepping down following a food standards scandal.Ranjit Singh Boparan, the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves, has taken over from Andr
  
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• Let’s move to Glossop, Derbyshire: it’s fierce and friendly

  08-11-2019 17:30 via theguardian.com
  
  A strong and independent spot, not much given to pretensionWhat’s going for it? Last time I popped into Glossop, five years ago, it was coming of age as a Nu Mill Town, following in the wake of Todmorden, Ramsbottom and, of course, Hebden Bridge, the kind of place increasingly inhabited by those Manchester commuters partial to BBC 6 Music, craft beer and luxuriant beards, who are not quite ready to purchase beard oil, that being the stuff of the devil (or at least, parts of east London). A
  
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• Pension scam warning: Victims can lose 22 years of savings in 24 hours - are you at risk?

  08-11-2019 15:50 via feedproxy.google.com
  
  PENSION scam victims could lose 22 years’ worth of savings within just 24 hours, according to a new analysis by the Financial Conduct Authority and The Pensions Regulator .
  
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• Online banking warning: The subscription scam that could cost you hundreds of pounds

  08-11-2019 15:50 via feedproxy.google.com
  
  ACTION FRAUD has warned of a concerning scam that has cost victims more than £400,000 in two months. Scammers have been contacting unsuspecting members of the public, mercilessly targeting them with automated calls which tell them a fraudster has used their personal details to sign up for an Amazon Prime subscription.
  
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• Can Premium Bonds be bought as a gift? Rules on who can be given them - but who can’t?

  08-11-2019 15:50 via feedproxy.google.com
  
  PREMIUM BONDS are entered into a monthly draw, and with the chance to be selected for a jackpot prize of £1 million, some may decide to buy Premium Bonds as a gift for their loved ones. Who can Premium Bonds be bought as a gift for?
  
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• Questions raised over UK's state-backed fund for electric car charging

  08-11-2019 15:28 via theguardian.com
  
  Labour criticises tender as firm running £400m investment fund awards millions to company it part-ownsThe private equity firm appointed by the government to manage as much as £400m in investment in electric car charging points has awarded millions of pounds to a company in which it holds a controlling financial interest.Zouk Capital is the largest shareholder in charge point builder Instavolt, having made an £18m investment in the company. Now Zouk has chosen Instavolt as the c
  
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• Capitalism is in crisis. And we cannot get out of it by carrying on as before | Michael Jacobs

  08-11-2019 15:11 via theguardian.com
  
  Even capitalists agree our economic model is broken. Fundamental change on the scale of 1945 and 1979 is needed nowGeneral elections are rarely epoch-defining events. Though the parties pretend that their political differences are large, in economic terms they rarely are. But this one could be different.Of course, elections lead to change. Labour’s victory in 1997 marked a decisive break with the Thatcher-Major years in terms of public spending and welfare policy. Yet New Labour didn&rsquo
  
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• Austerity has pushed families into crisis and then thrown away the lifelines | Richard Vize

  08-11-2019 12:10 via theguardian.com
  
  Relentless cuts have put more children at risk of violence, poverty and homelessness, with no end in sight whatever politicians promise
  Domestic violence, poverty, poor housing and substance abuse are driving a surge in children at risk, as austerity pushes families over the edge.A survey of lead councillors for children’s services in England just published by the Local Government Association delivers a devastating assessment of the factors behind massive and rising demand, while the same
  
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• Mothercare refunds: Mothercare says returns not accepted as online orders to be delayed

  08-11-2019 12:05 via feedproxy.google.com
  
  MOTHERCARE entered administration on Tuesday and now customers are being warned of delays to orders and returns no longer being accepted.
  
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• Pension scam warning: Victims losing £80,000 on average – what should you watch out for?

  08-11-2019 11:23 via feedproxy.google.com
  
  PENSION scam victims are losing £80,000 “on average” from their pension pot with a specific age range being targeted, warned BBC Breakfast business presenter Nina Warhurst.
  
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• WASTE2TRICITY: Innovation turns dirty plastic waste into clean fuel and electricity

  08-11-2019 10:45 via feedproxy.google.com
  
  UK developer Waste2Tricity is ready for a clean energy revolution as the project it has helped pioneer, to turn dirty plastic waste into electricity for the grid and low-cost hydrogen road fuel, prepares for commercial production.
  
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• Crossrail faces further delays and will cost more than £18bn

  08-11-2019 10:43 via theguardian.com
  
  TfL says aim is for London rail link to open ‘as soon as practically possible in 2021’Crossrail will not open until at least 2021, incurring a further cost overrun that will take the total price of the London rail link to more than £18bn, Transport for London (TfL) has announced.The latest assessment for the opening of the central section has ruled out late 2020 and the aim is for Crossrail to open “as soon as practically possible in 2021”, the capital’s trans
  
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• Standard Chartered to halve £474k pension payout for CEO

  08-11-2019 10:37 via theguardian.com
  
  Bill Winters’ allowance will be cut to £237,000 after protest from shareholdersStandard Chartered has bowed to investor pressure and announced plans to halve a £474,000 pension payout for its chief executive.Bill Winters will have his allowance slashed from £474,000 to £237,000 from 1 January 2020. The bank’s finance chief, Andy Halford, will also have his pension pay halved from £294,000 to £147,000. Continue reading...
  
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• Royal Mail applies for high court injunction to try to stop strike

  08-11-2019 08:58 via theguardian.com
  
  Company claims there were ‘potential irregularities’ in ballot of CWU members Royal Mail is seeking an injunction to block a potential strike by postal workers in the run-up to the general election and Christmas.The company, which lodged an application at the high court, claimed there were “potential irregularities” in the ballot of Communication Workers Union (CWU) members over industrial action that could mean the recent vote was unlawful. It has also contacted the indu
  
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• On the tube in the 70s – in pictures

  08-11-2019 08:00 via theguardian.com
  
  The tube photographs of Mike Goldwater, shot between 1970 and 1980, capture intimate private moments of tenderness and humour behind the hustle and bustle of the human traffic. Be transported back to a time when it was fine to talk (and smoke) on London’s underground
  London Underground 1970-1980 by Mike Goldwater is published by Hoxton Mini Press Continue reading...
  
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• My plan to put business-class passengers in their place | Adrian Chiles

  08-11-2019 08:00
  
  Forcing elite fliers to wait on the runway until everyone else has boarded would sort out one of the great stresses of flyingMany of us should be flying less, that much is clear. I should definitely be flying less, if only to keep my stress levels down. This isn’t because I am frightened of flying; the prospect of falling out of the sky is less stressful to me than almost every other aspect of the whole palaver.I am delighted to read of new efforts to load punters on to planes more efficie
  
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• Homes in former religious buildings – in pictures

  08-11-2019 08:00 via theguardian.com
  
  From Kent to Cumbria, these one-time churches and chapels might just convert you Continue reading...
  
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• How big tech is dragging us towards the next financial crash

  08-11-2019 07:00 via theguardian.com
  
  Like the big banks, big tech uses its lobbying muscle to avoid regulation, and thinks it should play by different rules. And like the banks, it could be about to wreak financial havoc on us all. By Rana Foroohar‘In every major economic downturn in US history, the ‘villains’ have been the ‘heroes’ during the preceding boom,” said the late, great management guru Peter Drucker. I cannot help but wonder if that might be the case over the next few years, as the Uni
  
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• Mothercare kicks off closing down sale

  08-11-2019 01:01 via theguardian.com
  
  Firm says nearly all products will be dramatically reduced as it prepares to close UK storesMothercare is launching a closing down sale with nearly all products “dramatically reduced” as it prepares to close all its 79 stores and its website in the UK.The baby and maternity retailer is to begin clearing stock with the sale on Friday after appointing administrators from the advisory firm PricewaterhouseCoopers on Tuesday, who are to close down its UK retail arm with the loss of more t
  
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