Financial news

• Trump claims financial statements at heart of $250m fraud trial are ‘worthless’

  06-11-2023 21:48
  
  Former president takes stand in New York Trump Organization trial as judge asks lawyer to ‘control your client’Trump testifies at fraud trial – live updatesAt a glance: what we’ve learned so farDonald Trump took the stand in a Manhattan federal courthouse on Monday and angrily claimed the financial statements at the heart of his $250m civil fraud lawsuit were “worthless” and the trial was a political “witch-hunt”.In a day of sometimes heated, somet
  
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• Train operators to be forced to run 40% of normal timetable on strike days

  06-11-2023 20:33
  
  Minimum service level regulations are being extended to rail workers in England, Wales and ScotlandTrain operators will be forced to guarantee that 40% of a normal timetable will run on strike days under a law to be introduced to parliament on Tuesday.The minimum service level regulations would make sure that “certain priority routes can remain open”, the government said, although it was unclear which journeys would be covered. Continue reading...
  
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• Hipgnosis needs to hit fast forward towards a sale | Nils Pratley

  06-11-2023 18:42
  
  A second consecutive cancellation of dividends suggests swift and drastic measures are needed at the music rights business As if investors in Hipgnosis Songs Fund, the London-listed owner of music rights from artists including Blondie to Neil Young, weren’t already furious, Monday brought fresh fuel for rebellion. The fund will skip dividends until at least its next financial year to preserve cash; that’s on top of the cancellation of the last quarterly distribution.The infuriating d
  
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• Buy now, pay later firm Klarna reports first quarterly profit in four years

  06-11-2023 17:48
  
  Swing to profit of £9.6m by Swedish firm improves its fortunes in run-up to possible £12bn flotationThe buy now, pay later company Klarna has logged its first quarterly profit in four years, improving its fortunes in the run-up to a potential $15bn (£12bn) stock market flotation and a regulatory crackdown under a possible Labour government.The Swedish firm, which is the biggest BNPL provider in Britain and has about 150 million international customers, said on Monday that it ha
  
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• WeWork shares suspended as investors brace for bankruptcy filing

  06-11-2023 17:39
  
  Shares in the company, which raised ‘substantial doubt’ over its future in August, are down 98% this yearShares in WeWork were suspended on Monday as Wall Street braced for the shared office space provider to file for bankruptcy.Trading in the struggling company’s stock was halted ahead of the opening bell on the New York stock exchange, following reports it was preparing to lodge a filing for Chapter 11 protection. Continue reading...
  
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• Gazunder alert! How the UK’s house buyers are forcing sellers to slash prices

  06-11-2023 17:25
  
  As the housing market stagnates, buyers are making the most of their new power. One in three vendors has been asked to accept less money after a deal has supposedly been struckName: Gazundering.Age: First mentioned three decades ago, but steadily increasing in frequency. Continue reading...
  
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• Boris Johnson said Rishi Sunak’s Treasury was ‘pro-death squad’, inquiry hears – video

  06-11-2023 16:36
  
  Citing a diary entry by Sir Patrick Vallance, the government’s chief scientific adviser, Dermot Keating, a counsel to the official Covid inquiry, said Johnson referred to the Treasury under Sunak as the 'pro-death squad', as the then chancellor sought to build support for a loosening of Covid restrictions, the inquiry heard. Keating asked Stuart Glassborow, who was Johnson’s deputy principal private secretary, about what Vallance wrote. Glassborow said: 'I wouldn’t dispute what
  
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• Luxury London tower near remains of Shakespearean theatre opens

  06-11-2023 16:23
  
  Find from 16th century uncovered in building of £750m complex of 412 apartments now renamed the StageWhen excavating the foundations for London’s latest luxury residential tower, archaeologists made an unexpected discovery behind a Shoreditch pub: the remains of a 16th-century Shakespearean theatre.The remains of the Curtain theatre, which opened in 1577 but was lost from historical records in 1622, was found during the building of a £750m complex of 412 apartments in a 37-stor
  
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• The problem with Sam Bankman-Fried? We wanted to believe in him | Josie Cox

  06-11-2023 15:47
  
  Hungry for innovation that will change our ailing world, we’re blind to hubris, misguided egos and wishful thinkingOn Thursday night, mere minutes after I finished reading the last few pages of Michael Lewis’s book about the dramatic rise and fall of erstwhile crypto king Sam Bankman-Fried, we were all presented with an addendum to the last chapter.In Manhattan federal court, a jury of nine women and three men convicted Bankman-Fried of wire fraud and conspiracy to launder money. The
  
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• British Steel to replace Scunthorpe furnaces, putting up to 2,000 jobs at risk

  06-11-2023 15:43
  
  Plant’s Chinese owner says £1.25bn scheme to switch to electric arc furnaces is contingent on £500m in government supportBusiness live – latest updatesBritish Steel has announced a £1.25bn plan to replace two blast furnaces in Scunthorpe, a move that would further reshape the UK steel industry and could eventually threaten the jobs of up to 2,000 steelworkers.The company, owned by China’s Jingye, on Monday informed workers that it proposed to replace the blast
  
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• Homelessness could be the perfect ‘lifestyle choice’ for Suella Braverman | John Crace

  06-11-2023 15:20
  
  Weary of the day-to-day slog of being home secretary, perhaps Suella would enjoy living in a tentEverything just felt wrong. All the joy had been sucked out of Suella Braverman’s life. The early mornings at home used to be a time when she connected with her family. A time when she and her husband laughed with the kids as they fought over the toast (no woke granola for her). Now it all just felt like a chore. A daily treadmill of counting down the minutes until everyone was out of her hair.
  
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• Firm recalls 13 tonnes of chicken nuggets in US after metal pieces found

  06-11-2023 14:10
  
  Tyson Foods makes decision over dinosaur-shaped Fun Nuggets ‘out of abundance of caution’A US food company is recalling 13 and a half tonnes of dinosaur-shaped chicken nuggets after customers reported finding metal pieces in the product.One individual in the US is said to have suffered a minor mouth injury after eating the Fun Nuggets. Continue reading...
  
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• Sunak refuses to repeat Braverman’s ‘lifestyle choice’ homelessness claim

  06-11-2023 13:51
  
  Prime minister joins several senior Tories in distancing himself from home secretary’s commentsUK politics live – latest updatesRishi Sunak has declined an offer to repeat Suella Braverman’s claim that homelessness is sometimes a lifestyle choice.The prime minister joined several senior Conservatives in distancing himself from his home secretary’s comments, although he stopped short of criticising her. Continue reading...
  
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• ICO apologises to ex-NatWest chief over claim she broke privacy law on Farage

  06-11-2023 13:35
  
  Watchdog says it was ‘incorrect’ to suggest Alison Rose breached law by discussing ex-Ukip leader’s banking with journalistThe UK’s data watchdog has issued a formal apology to ex-NatWest boss Alison Rose, saying it was “incorrect” to suggest she had breached data protection laws by discussing Nigel Farage’s banking relationship with a BBC journalist.The Information Commissioner’s Office (ICO) appeared to back-pedal on findings released last month,
  
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• Millions of US homes are so overheated they open their windows in the winter. Why?

  06-11-2023 13:00
  
  Nineteenth-century technology is finally being phased out in New York City, but its past is deeply entwined with American historyUntil recently, my girlfriend and I lived in a steam-heated apartment in Manhattan. A creaky former tenement building, it had no radiators, just scalding-hot cast iron pipes that punched through the units like fire poles. The pipes terminated a few inches from our ceiling with valves that hissed and sputtered, leaking rusty orange water. And they weren’t just hea
  
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• Katie Hopkins and Tommy Robinson thank Elon Musk for reinstating them on X

  06-11-2023 11:55
  
  Former Daily Mail columnist and far-right agitator show their gratitude after rejoining social media platformThe former Daily Mail columnist Katie Hopkins and the far-right agitator Tommy Robinson have thanked Elon Musk for reinstating their accounts on X after being banned for “hateful conduct”.Hopkins, who found fame as a candidate on BBC’s The Apprentice, was suspended permanently in 2020 on the platform, then known as Twitter. Continue reading...
  
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• Michelle Mone admits involvement with ‘VIP lane’ PPE company

  06-11-2023 11:00
  
  Exclusive: Tory peer and husband, Douglas Barrowman, had repeatedly denied roles in firm given £200m government Covid contractsThe Conservative peer Michelle Mone has acknowledged for the first time that she was involved with a company that was awarded government PPE contracts worth £200m during the Covid pandemic.Lady Mone’s husband, Douglas Barrowman, has also acknowledged for the first time that he was involved in the company, PPE Medpro. Continue reading...
  
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• Ryanair to reward shareholders as it heads for record profits after fares rise

  06-11-2023 09:39
  
  Airline to pay regular dividends as finance boss says consumers are going to continue spendingBusiness live – latest updatesRyanair is to hand its shareholders regular payouts for the first time after soaring air fares put the airline on track to make record profits.The budget carrier said it expected to notch up profits of between €1.85bn (£1.6bn) and €2.05bn in the financial year to the end of March, far outstripping its previous highest profit of €1.45bn in 2018. Co
  
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• Why can’t I get a refund after UPS lost my son’s belongings?

  06-11-2023 08:00
  
  We booked through ParcelCompare but now it says it was a prohibited itemI am trying to get my money back and compensation from ParcelCompare.After finishing his degree in Birmingham, my son needed to get his things back to Northern Ireland. He could take some of them on his flight, and I arranged for the rest – a 32kg suitcase and a 15kg rucksack – to be picked up by UPS, which I booked via ParcelCompare for £71. Continue reading...
  
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• Staff exodus could hinder expansion of free childcare in England, providers say

  06-11-2023 08:00
  
  Exclusive: recruitment and retention crisis means only 17% of nurseries say they could offer extra entitlementThe true cost of childcare – interactive calculatorA mass exodus of childminders and nursery staff risks scuppering the government’s flagship new funding for parents of young children in England, according to a new coalition of early years providers and campaigners.More than half of all nursery workers surveyed by the Early Education and Childcare Coalition (EECC) said they w
  
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• Should my bonus go on overpaying the mortgage or into a high-interest savings account?

  06-11-2023 08:00
  
  Fixed-rate part of deal ends in August and I’m worried about interest rate risesDon’t get caught out by tax on cash interest, UK savers toldQ Our mortgage is split into two parts, as we ported a section of our original mortgage when we moved in 2021. The 2.5% fixed-rate part of the mortgage (on a balance of approximately £210,000) is coming to an end next August.I’m incredibly worried about the possible interest rate rise when we have to renew. We have already absorbed a
  
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• How to rebuild your career after redundancy

  06-11-2023 08:00
  
  Work out what you need, then follow a network map to get to your ideal destinationRedundancy can be distressing, bringing with it the shock of uncertainty, rejection and even a kind of grief. But it can also bring opportunities for change. We look at how to get back on track after losing your job. Continue reading...
  
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• The insider: how Michael Lewis got a backstage pass for the fall of Sam Bankman-Fried – podcast

  06-11-2023 06:00
  
  As author of The Big Short and Moneyball, Michael Lewis is perhaps the most celebrated journalist of his generation. His latest book delivers an astonishing portrait of the fallen crypto billionaire. But did he get too close? Continue reading...
  
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• Why are Britain’s new homes so rubbish? - podcast

  06-11-2023 04:00
  
  Oliver Wainwright reports on the increasingly poor standards of newly built homes in the UK and what consumers can do to protect themselves“I feel like we’re always living with some form of anxiety that something is going to go wrong.”When Louise Rickman moved into her newly built house, there were issues everywhere she looked: broken tiles, a crack in the roof, a garage door that wouldn’t close, and mould behind the kitchen cabinets. She tells Nosheen Iqbal how the probl
  
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• Older people live better than the young - and this must change, politicians told

  06-11-2023 00:12 via express.co.uk
  
  "Younger age groups report poorer air quality and a lack of local green space."
  
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• Financial crisis looming with 16m missing household payment this year

  06-11-2023 00:02 via express.co.uk
  
  Credit card repayments were most commonly missed, followed by utilities, council tax and bank overdraft or loan.
  
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