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. Britain should stop giving the state pension to the rich and instead spend the money on benefits for the poor, according to the Organisation for Economic Co-operation and Development. ... [Read full article on Guardian ]
Thursday 27th of April 2017 07:15:15 AM
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Latest Finance News related to Co-op

UK should axe state pension for rich people, says OECD image
Source : Guardian [Read Article] Thursday 27th of April 2017 07:15:15 AM
. Britain should stop giving the state pension to the rich and instead spend the money on benefits for the poor, according to the Organisation for Economic Co-operation and Development. ...
Presidential challenge image
Source : BBC [Read Article] Thursday 20th of April 2017 03:10:40 PM
....There is also a feature of the French business regulation and taxation that affects the size of firms. Nicola Brandt from the Organisation for Economic Co-operation and Development (OECD) told the BBC that there's a threshold effect - regulations that kick in when a firm has 50 or more employees that inhibit those that might otherwise grow. ...
UK gas and electricity customers face price rise double whammy image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:59:19 AM
.... Since the deal ended on 31 March, that same group will pay £1,187 a year on the firm’s standard tariff – a 60% increase. Those on the Co-op Online March 2017 deal are now paying 50% more – unless they have moved to a cheaper tariff or switched supplier. ...
Londoners work 'three weeks a year more than rest of UK' image
Source : BBC [Read Article] Tuesday 18th of April 2017 02:14:56 AM
....The average working week in the UK - which gets reduced by part-time work - is 31 hours, according to the figures. The UK works shorter hours than the Organisation for Economic Co-operation and Development (OECD) average. ...
Expert help for gardens on a budget, plus the older expats facing poverty image
Source : Guardian [Read Article] Wednesday 12th of April 2017 02:07:41 PM
....It was DFS customer service that didn’t measure up. Why won’t the Co-op Bank believe me when I say I’m 15?. ...
Eggs-porting isn't easy image
Source : BBC [Read Article] Tuesday 11th of April 2017 11:14:15 PM
....Theresa May criticises Cadbury over Easter egg hunt. Co-op's 'Treat your daughter' Easter egg adverts changed. ...
Why won’t the Co-op Bank believe me when I say I’m 15? image
Source : Guardian [Read Article] Monday 10th of April 2017 06:00:29 AM
. I’m writing about a ludicrous issue I’ve had with The Co-operative Bank. ...
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Zero house price inflation is to be welcomed not feared | Larry Elliott image
....Research by Andrew Oswald and Danny Blanchflower shows rising home ownership leads to a subsequent increase in unemployment, because owner occupation affects labour mobility, increases congestion costs and encourages Nimby-style behaviour that means fewer new businesses. The correlation holds true across the developed countries of the Organisation for Economic Co-operation and Development and in individual US states. ...
Co-op Bank receives takeover 'proposals' image
Source : BBC [Read Article] Friday 7th of April 2017 08:03:17 AM
. The Co-op Bank says it has received a number of takeover approaches from potential bidders. ...
Tax relief cut doesn’t add up for landlords, plus Bank warns over consumer credit image
....A touch too difficult to get a refund from Motorola. Co-op airport lounge passes managed to escape us. ...
Advertising fail image
Source : BBC [Read Article] Thursday 6th of April 2017 01:57:06 PM
....German skincare brand Nivea also said sorry over its "white is purity" deodorant advert that was deemed discriminatory and racially insensitive. Meanwhile, in the UK, the Co-op supermarket was accused of "outrageous sexism" in an advert for chocolate Easter eggs that encouraged parents to "treat your daughter for doing the washing up", while Cadbury was criticised after dropping the word "Easter" from its egg hunts. ...
Co-op boss shrugs off £130m loss to focus on group's 'stellar progress' image
. The Co-operative Group’s chairman, Allan Leighton, has insisted the business was making “stellar progress” despite slumping more than £130m into the red. ...
Co-op Group boss looking at new markets image
Source : BBC [Read Article] Thursday 6th of April 2017 08:56:41 AM
. The new chief executive of the Co-op Group is looking at "new, interesting markets". ...
Co-op Group makes loss as bank stake written off image
Source : BBC [Read Article] Thursday 6th of April 2017 06:27:53 AM
. The Co-op Group has reported its first annual loss since 2013 after declaring that its stake in Co-operative Bank is worth nothing. ...
Smile no more, as Co-op airport lounge passes managed to escape us image
Source : Guardian [Read Article] Tuesday 4th of April 2017 06:00:44 AM
. Our Co-op Smilemore current account, for which we pay £15. ...
Lloyds to shrink hundreds of UK branches to two staff image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:29:14 PM
....Banks are closing branches across the country due to the rise of online banking. Lloyds – which owns Bank of Scotland and Halifax – has already announced plans to close 400 of its branches, with more than 9,000 job losses, while last month Royal Bank of Scotland said it was shutting 158 sites, mostly NatWest’s, and the Co-operative Bank is battling to find a buyer amid fears about its future. ...
Co-operative Group to write off the value of its stake in Co-op bank image
Source : Guardian [Read Article] Monday 3rd of April 2017 06:30:15 AM
. The Co-operative Group will reveal this week it has fallen back into the red for the first time since its tumultuous 2013 year, after writing off the value of its investment in the Co-operative Bank. ...
Five-minute guide to 'National Price Hike Day' image
Source : Daily Express [Read Article] Sunday 2nd of April 2017 12:01:00 AM
....8 per cent, adding £97 to annual bills. Co-op Energy’s 5 per cent uplift will make its customers £58 worse off. ...
Lords call for the banks to get back to basics image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:02 AM
....The Lloyds, Halifax and Bank of Scotland products are all simply called the Basic Account. Meanwhile, the Co-operative Bank says its basic Cashminder account makes up around 20% of all its current accounts. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
. The Co-operative Bank has confirmed that a number of “credible” potential buyers have expressed an interest in the troubled bank, as fears grow that it will be broken up rather than sold as an ongoing entity. ...
Co-op Bank sale plan attracts suitors image
Source : BBC [Read Article] Friday 24th of March 2017 09:52:14 AM
. The Co-operative Bank has said a number of "credible" potential buyers have expressed interest since it put itself up for sale last month. ...
Brexit could damage UK's fight against corruption, says OECD image
Source : Guardian [Read Article] Thursday 23rd of March 2017 10:07:05 AM
. Brexit could damage the UK’s efforts to tackle corruption and give multinationals leverage over the British government in bribery cases, the Organisation for Economic Co-operation and Development has warned. ...
Energy costs to soar as Big Six companies turn up the heat image
Source : Daily Express [Read Article] Tuesday 14th of March 2017 08:01:00 AM
....com. Tariffs from EDF Energy, Npower, SSE, The Co-operative Energy, First Utility and smaller suppliers such as M&S, Sainsbury’s, Better Energy, Flow, Spark, Loco2 and iSupply could rise by as much as £578. ...
Co-op Bank warns of more branch closures as it reports £477m loss image
Source : Guardian [Read Article] Thursday 9th of March 2017 11:25:19 AM
. Co-operative Bank has reported its fifth consecutive year of losses and warned of more branch closures and job losses as its struggles to restore its fortunes following its tie-up with Britannia Building Society. ...
What are the UK's highest paid apprenticeships of 2017? image
Source : Guardian [Read Article] Thursday 9th of March 2017 09:42:43 AM
....Other apprenticeship schemes involve partnerships with universities. For example, Co-operative Legal Services has partnered with Manchester Metropolitan University to train employees as paralegals, lawyers and managers. ...
Co-op Bank reports loss as suitors circle image
Source : BBC [Read Article] Thursday 9th of March 2017 08:37:46 AM
. The Co-operative Bank has reported another a loss of £477m, one month after it put itself up for sale. ...
Budgens closes 34 stores with loss of 815 jobs image
Source : Guardian [Read Article] Tuesday 7th of March 2017 10:04:23 AM
....The owner of the stores to be closed, Food Retailer Operations Limited (FROL), appointed administrators at PricewaterhouseCoopers last month after suffering “difficult” trading conditions. The stores were bought from the Co-op in 2016. ...
Budgens: More than 800 jobs lost as 34 stores close image
Source : BBC [Read Article] Tuesday 7th of March 2017 08:31:22 AM
.... . The stores are spread around the UK, from Dorset to Norfolk to Scotland, and were bought from the Co-op in 2016. ...
Business group calls for change to schemes giving tax breaks to 'select few' image
Source : Daily Express [Read Article] Thursday 2nd of March 2017 12:01:00 AM
. Co-operatives UK, which represents thousands of operations run as co-ops, has called on Chancellor Philip Hammond to use next week's Budget to change the system. ...
Fairtrade campaigners fear Brexit impact image
Source : BBC [Read Article] Monday 27th of February 2017 04:19:59 PM
....Fairtrade said it was a globally recognisable ethical-trade mark and would continue to develop its relationship with manufacturers who chose to adopt their own system of self-regulation. The Co-op said on Monday that it had become the first UK retailer to use only Fairtrade cocoa in all its products. ...
UK falls in love again with Fairtrade bananas and coffee image
Source : Guardian [Read Article] Monday 27th of February 2017 07:01:03 AM
....Tea and cocoa sales both slid 3%, again partly as a result of changing habits. It is hoped that cocoa sales will get a boost this year as the Co-op becomes the first UK retailer to switch to selling and using only Fairtrade cocoa in all its own-brand chocolate products, from the sprinkles on its doughnuts to chips in its triple chocolate cookies. ...
Energy bills: customer switching hits six-year high image
Source : BBC [Read Article] Monday 27th of February 2017 12:05:06 AM
....Firms were not doing enough for about two thirds of customers, Ofgem added. In the coming weeks, standard gas and electricity tariffs will go up at Npower, Scottish Power, Co-operative Energy and First Utility, while EDF will raise electricity prices. ...
Energy bills: are UK customers finally starting to switch supplier? image
Source : Guardian [Read Article] Monday 27th of February 2017 12:01:44 AM
.... It said around two-thirds of customers remained on standard variable tariffs and some could save £230 a year if they switched providers. Standard tariffs are typically the most expensive deals for customers who pay monthly for their energy, and several energy firms have announced plans to increase theirs, with Co-operative Energy and First Utility adding their names to a growing list in the past seven days. ...
Business rates: pressure grows for total rethink on controversial tax image
Source : Guardian [Read Article] Thursday 23rd of February 2017 05:43:01 PM
....”. Gareth Thomas, the Labour and Co-operative MP, has tabled an amendment to the local government finance bill that calls for a review into business rates and the impact on local authorities from changes to the tax. ...
British Gas worst-value tariffs are not 'evil empire', boss says image
Source : Guardian [Read Article] Thursday 23rd of February 2017 01:28:27 PM
....”. On Thursday, Co-operative Energy announced its second price rise this winter, with electricity and gas prices to increase 5% from April for nearly 100,000 customers on its standard tariff. ...
Government failure to act means gender pay gap will remain, say MPs image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:50:01 AM
....”. According to a study by consultancy PwC, published on Tuesday, Britain has a higher proportion of working women than most countries in the Organisation for Economic Co-operation and Development ranking of rich nations. ...
Small shops recoil in the face of business rates that will more than double image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....The call for changes to the business rates system is now starting to gain political momentum. Gareth Thomas, shadow minister for local government, and Jim McMahon, his fellow Labour and Co-operative MP, have tabled amendments to the local government finance bill calling for the government to consider offering discounts to hospitals – which face a £322m increase from April – and schools, and also for the business rates system to be fully reviewed before local authorities are allowed to keep 100% of the tax. ...
Nationwide should swallow Co-op Bank | Letters image
Source : Guardian [Read Article] Wednesday 15th of February 2017 06:25:56 PM
. Patrick Collinson’s account of the coming demise of the Co-operative Bank (‘Ethical’ bank is history, 14 February) names Nationwide as the only remaining true “challenger” bank but not as a possible purchaser of the Co-op Bank. ...
The Co-op Bank is the new Bradford & Bingley image
Source : Guardian [Read Article] Monday 13th of February 2017 02:34:40 PM
. Co-op Bank, now that it has announced its sale, is going the way of the Bradford & Bingley – to be broken up, run off and the name consigned to history. ...
Trump presidency poses threat to global economy, warns Fitch image
Source : Guardian [Read Article] Friday 10th of February 2017 04:37:52 PM
.... It signalled the UK was one such country, including it on a list of those with the highest stock of US investment in manufacturing along with Canada, Germany and Mexico. Fitch’s intervention comes after warnings from the leading thinktank the Organisation for Economic Co-operation and Development that a wave of protectionism and trade tensions risks denting global growth, stoking inflation and harming living standards. ...
It's time corporate tax dodgers started losing lucrative council contracts | Paul Monaghan image
.... Manchester City Council, Durham County Council and the London boroughs of Southwark and Lewisham are just some of those that put the issue to the vote and agreed to begin assessing the tax compliance of suppliers. Matching this volume of activity is the political breadth of the councillors that have tabled motions to date, who include Labour, Co-operative, Green, Liberal Democrat and Conservative elected representatives. ...
Lloyds must compensate the victims of the £245m HBOS scam – fast | Nils Pratley image
.... The big boys can continue building at their current steady rate and their special dividends can keep flowing. Co-op chair Allan Leighton is overdoing it when he says the departing Richard Pennycook “saved” the organisation – surely his 69,999 colleagues and the 4. ...
Co-op CEO Richard Pennycook to step down image
Source : Guardian [Read Article] Tuesday 7th of February 2017 04:13:24 PM
. The Co-operative Group chief executive, Richard Pennycook, who rebuilt the company after its banking crisis, is to step down. ...
Aldi becomes UK's fifth largest supermarket image
Source : Guardian [Read Article] Tuesday 7th of February 2017 09:18:50 AM
. Aldi has overtaken the Co-op to become the UK’s fifth largest grocer as the discount supermarket stepped up the pace of growth in January. ...
Criminal inquiry begins after battery is found in Co-op chocolate bunny image
Source : Guardian [Read Article] Tuesday 31st of January 2017 06:21:10 PM
. A criminal investigation has been launched into suspected product tampering after the discovery of a battery inside a hollow milk chocolate Easter bunny sold at the Co-op. ...
Young and bereaved – and now facing cuts to crucial financial support image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
.... One in five people said the impact of having a lower income was the most difficult element to deal with. This was borne out last year in research carried out for The Observer by Co-op Legal Services, which showed that almost half of people had not made a will, with some people saying they simply did not want to think about death. ...
After the Italian job, BT boss must make sure success doesn’t blow up in his face image
....1bn knock for its latest run-in with regulators, another bank in the recovery ward was admitting to a few problems. Co-operative Bank – once owned by the mutual grocer and funeral homes operator Co-operative Group – put out an announcement on Thursday to say its capital position was going to slump below 10% and that it would fail to meet the individual regulatory plan it had agreed with the Bank of England until 2020. ...
Why is Tesco buying Budgens' owner – and will it affect shoppers? image
Source : Guardian [Read Article] Friday 27th of January 2017 02:12:27 PM
....Tesco already has a 17% share of the convenience store sector, according to Euromonitor, and the merger with Booker would take that up to 27%. The Co-op, its nearest rival, has a 15% market share. ...
Banks scale bank on ‘sweeteners’ used to tempt customers to switch current account image
....uk. First Direct and Halifax have cut their switching cashback from £125 to £100, and The Co-operative Bank from £150 to £110. ...
Can credit unions finally provide a truly ethical current account? image
Source : Guardian [Read Article] Saturday 21st of January 2017 06:59:28 AM
....” He adds that there are already around 5,500 people using the Engage current account. The Co-operative Bank is the only UK high street bank with a customer-led ethical policy, covering a range of issues from the environment to animal welfare. ...
Former Co-op Bank chair Paul Flowers dismissed from church over drugs image
Source : Guardian [Read Article] Monday 16th of January 2017 10:12:56 AM
. Paul Flowers, the former chairman of the Co-operative Bank, has been dismissed as a minister by the Methodist church after he was convicted of possessing cocaine, crystal meth and ketamine in 2014. ...
'She only makes tea': worst excuses for not paying UK minimum wage revealed image
Source : Guardian [Read Article] Wednesday 11th of January 2017 06:30:12 AM
....”. But HMRC’s role in policing failure to pay the minimum wage has been criticised by Roger Lilley, one of two newspaper delivery workers who received the biggest payout yet for breaches by Midcounties Co-op. ...
How to get FREE £200: Bank accounts offering the best opening perks image
Source : Daily Express [Read Article] Saturday 7th of January 2017 05:08:00 PM
....Customers can qualify if they pay in at least £1,000 a month and will also be able to open First Direct's five per cent regular saver account. The Co-op gives £110 upon the opening of one of its current accounts and customers qualify if they can pay in at least £800 a month. ...
Co-op Group planning 1,500 UK jobs with 100 new stores image
Source : BBC [Read Article] Wednesday 28th of December 2016 12:24:35 AM
. The Co-operative Group is planning to create 1,500 jobs in the new year by opening 100 stores across the country. ...
Co-op recalls chocolate Santas after batteries found in two of them image
Source : Guardian [Read Article] Friday 23rd of December 2016 11:51:19 AM
. The Co-op is recalling chocolate Santas after batteries were found inside two of them. ...
Co-op recalls chocolate Santas over battery fears image
Source : BBC [Read Article] Friday 23rd of December 2016 11:26:51 AM
. The Co-op grocery chain has announced a nationwide recall of 165,000 hollow milk chocolate Santa figures after two alleged tampering incidents. ...
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UK GDP growth better than expected in Brexit vote aftermath image
Source : Guardian [Read Article] Friday 23rd of December 2016 09:52:37 AM
.... “Does Britain really want this DIY recession? Because that’s what the evidence shows we’ll get if we vote to leave the EU,” he said. The International Monetary Fund and Organisation for Economic Co-operation and Development sounded similar warnings before the referendum. ...
Co-op convenience store sell-off to McColl's approved image
Source : BBC [Read Article] Tuesday 20th of December 2016 09:19:16 AM
. Co-op's sale of 298 of its food stores to convenience chain McColl's has been approved by the competition regulator. ...
‘And the winner is...’ it’s the 2016 awards for worst customer service image
.... Ebay explains that its refund policy, which seems blatantly weighted against sellers, is to make buyers feel “comfortable” shopping in its marketplace. Npower, Scottish Power and Co-operative Energy are all contenders after updated computer systems generated wildly inaccurate bills or, in many cases, no bills at all. ...
Festive food shoppers brace for battle on ‘frenzied Friday’ image
Source : Guardian [Read Article] Sunday 18th of December 2016 12:04:36 AM
....Bosses at Asda and Waitrose expect Friday to be the most frenetic day, with the latter anticipating its till takings will be three and a half times higher than normal Friday trading. The UK’s largest retailer, Tesco, along with Sainsbury’s, expects shopping to be more spread out over the week while the Co-op convenience store chain, which has 2,800 shops across the UK, has earmarked its busiest day as Christmas Eve. ...
Government Digital Service faces a brain drain image
Source : BBC [Read Article] Thursday 15th of December 2016 08:51:44 AM
....". The GDS's former executive director Mike Bracken left last September to become chief digital officer at the Co-operative Group, and several senior GDS officials have since joined him at the firm. ...
HSBC closes a quarter of branches, as 1,000 banks shut for good image
Source : BBC [Read Article] Wednesday 14th of December 2016 12:06:05 AM
....The consumer organisation says that HSBC closed 321 branches since January 2015, or 27% of its network. The much smaller Co-operative Bank has closed more than half of its branches over the same period. ...
HSBC shutting four bank branches a week image
Source : Guardian [Read Article] Wednesday 14th of December 2016 12:01:10 AM
.... HSBC told the Guardian it had closed 222 in 2016 alone, taking its current tally to 755. The second largest number of closures, according to Which?, was at the Royal Bank of Scotland group, which has closed 191 outlets, followed by Lloyds Banking Group – which includes the Lloyds, Halifax and Bank of Scotland brands – with 180 branch closures, Barclays with 132, the Co-operative Bank (117, 53% of its entire network), Santander (87) and TSB (18). ...
Lloyds Banking Group fails to meet 'fee-free' basic account guidelines image
Source : Guardian [Read Article] Monday 12th of December 2016 07:32:21 PM
....”. All of the basic bank accounts at the other seven groups – Barclays, Clydesdale/Yorkshire, the Co-operative Bank, HSBC, Nationwide, Santander and TSB – are fully compliant. ...
Happiness depends on health and friends, not money, says new study image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:40 AM
....But the Department of Health admitted last month that the number of mental health nurses working in the NHS in England has dropped by almost a sixth since the Conservatives came to power in 2010, from 45,384 in England to 38,774 in July this year. The report will be presented to a conference in London on Monday that has been organised by the LSE and the Organisation for Economic Co-operation and Development. ...
Turn RBS into a building society says Co-op party chief image
Source : Guardian [Read Article] Sunday 11th of December 2016 02:00:28 PM
....With the 73% taxpayer-owned bank on course for its ninth consecutive year of annual losses since its £45bn bailout, Gareth Thomas argued that turning it into a mutual like a building society would “conserve the strength and credibility of one of our major financial global players whilst injecting a much needed dose of competition and diversity into British banking”. Chairman of the Co-operative party, Thomas will make his case in a 10-minute rule bill – a way for MPs to put their case for new legislation – on Tuesday. ...
McDonald's to scrap Luxembourg tax structure image
Source : Guardian [Read Article] Thursday 8th of December 2016 05:11:31 PM
.... In October last year, G20 leaders agreed a radical overhaul of international tax rules designed to stamp out such loopholes. The Organisation for Economic Co-operation and Development, a thinktank for developed economies responsible for drawing up the revisions, has estimated that, even on conservative assumptions, large global businesses were shifting profits and eroding the tax receipts of economies around the world at a cost of $100bn-$240bn (£65bn-160bn) a year – equivalent to between 4% and 10% of global corporation tax revenues. ...
How to snap up the hottest energy deals this winter image
Source : Daily Express [Read Article] Wednesday 7th of December 2016 12:01:00 AM
....However, Osborne says Ofgem has moved fast to protect households by quickly appointing a new supplier. “Co-operative Energy will honour all outstanding credit balances and keep them on the same prices. ...

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