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....James Walker, chief executive of free flights compensation claim site Resolver, said BA handled about 120,000 passengers a day in and out of Heathrow and Gatwick alone, indicating a bill of close to £50m for delays of more than three hours under EU-backed compensation rules. About half of those passengers were likely to be entitled to meals and accommodation while waiting for delayed flights and a number will have sought a refund or decided to avoid using BA as a result of a “loss of trust”. ... [Read full article on Guardian ]
Sunday 28th of May 2017 06:35:55 PM
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....While it is expected that Haldane will continue in his post until his re-appointment can be confirmed, the delay to replacements for Hogg and Forbes could result in the fewest number of individuals voting on rates since 2006. The MPC has not been down to seven members since July and August 2006 after the unexpected loss of David Walton, who voted in June 2006 and died later that month. ... [Read full article on Guardian ]
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....Goodwin has been called to give evidence in the long-running legal battle brought by thousands of investors who argue they were misled into buying the bank’s shares in a £12bn cash call in April 2008. The bank was bailed out six months later, leaving the shareholders nursing losses. ... [Read full article on Guardian ]
Sunday 28th of May 2017 07:05:10 PM
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Latest Finance News related to Loss

Judge expects update on Royal Bank of Scotland settlement negotiations image
....Goodwin has been called to give evidence in the long-running legal battle brought by thousands of investors who argue they were misled into buying the bank’s shares in a £12bn cash call in April 2008. The bank was bailed out six months later, leaving the shareholders nursing losses. ...
British Airways could face £100m compensation bill over IT meltdown image
....James Walker, chief executive of free flights compensation claim site Resolver, said BA handled about 120,000 passengers a day in and out of Heathrow and Gatwick alone, indicating a bill of close to £50m for delays of more than three hours under EU-backed compensation rules. About half of those passengers were likely to be entitled to meals and accommodation while waiting for delayed flights and a number will have sought a refund or decided to avoid using BA as a result of a “loss of trust”. ...
Election rules hit Bank's recruitment as monetary policy committee shrinks image
....While it is expected that Haldane will continue in his post until his re-appointment can be confirmed, the delay to replacements for Hogg and Forbes could result in the fewest number of individuals voting on rates since 2006. The MPC has not been down to seven members since July and August 2006 after the unexpected loss of David Walton, who voted in June 2006 and died later that month. ...
Ford faces lots of bumps in the road to a world of driverless cars image
Source : Guardian [Read Article] Sunday 28th of May 2017 06:00:02 AM
.... The Association of British Bookmakers says this money would be at risk if a government review, due within weeks, recommends that maximum stakes are cut. This would also, they say, force the closure of high street betting shops, leading to job losses. ...
Serious Fraud Office warns of £120m pension scam image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
.... Marketing tended to highlight how this was a profitable and growing industry. One glossy brochure seen by Guardian Money offered the chance to buy individual units from £3,750-£30,000 said to be located in the north-west of England. ...
More tofu? Supermarkets flesh out their vegan credentials as clean eating grows image
.... A decade ago there were just 150,000 UK vegans, but the Vegan Society says there are more than half a million. There are also plenty of glossy celebrities shunning all animal products, from Pamela Anderson and Miley Cyrus to Spiderman star Tobey Maguire and boxer David Haye. ...
REVEALED: How YOU could get bumper returns of 6.5 per cent with new ISA  image
Source : Daily Express [Read Article] Friday 26th of May 2017 03:57:00 PM
....However, Zopa is also scrapping a 'Safeguard' fund which is currently used to reimburse customers of Zopa products, with the exception of Zopa Plus, who lose cash in the event of a borrower default. The provider said tax laws introduced in 2015 that allow investors to claim tax relief on losses now covers the main purpose of its Safeguard fund. ...
Contactless payment fraud soars to £7m image
Source : BBC [Read Article] Thursday 25th of May 2017 11:37:11 PM
....She said money was refunded straight away. An HSBC spokesperson said: "We cannot go into any detail of how our fraud systems work but customers are protected against losses from this type of fraud. ...
UK gamblers lose record £13.8bn as industry braces for FOBT crackdown image
.... Both the Liberal Democrats and Labour are promising to cut the maximum bet to £2 if they win the general election. Punters’ losses on FOBT machines are the equivalent of nearly £5m a day, every day of the year. ...
Aston Martin roars back into profit as DB11 revs up sales image
Source : Guardian [Read Article] Wednesday 24th of May 2017 05:41:58 PM
. Demand for Aston Martin’s first all-new model for a decade – the flagship DB11 coupe – helped the luxury carmaker to double revenues in the first quarter, as it seeks to recover from six years of losses. ...
Aston Martin roars back into profit for the first quarter image
Source : BBC [Read Article] Wednesday 24th of May 2017 03:56:30 PM
....Revenues more than doubled to £188m in the quarter. Aston Martin, which has made an annual loss for each of the past six years, was sold by Ford in 2007 to Italian and Kuwaiti investment firms. ...
Financially sunk if you sail without proper travel insurance image
Source : Daily Express [Read Article] Wednesday 24th of May 2017 12:01:00 AM
.... . You may also need higher limits for loss or damage to baggage. ...
'Nothing we could do' image
Source : BBC [Read Article] Tuesday 23rd of May 2017 11:00:17 PM
.... . He has called for the North American Free Trade Agreement (Nafta) to be renegotiated, blaming it for the loss of US jobs. ...
SFO to investigate pension liberation scams image
Source : BBC [Read Article] Tuesday 23rd of May 2017 03:23:01 PM
.... . It is asking anyone else who believes they may have been a victim of such scams to get in touch with them, as there may be many more people who are unaware of their losses. ...
Opec oil producers poised to extend production cuts image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 11:27:42 AM
....One key factor for Saudi Arabia, as well as propping up state income over the short run – it accounts for one-third of Opec revenue – is the stock market listing for its national oil company. The initial public offering (IPO) of Aramco is expected some time in 2018, and its backers’ hopes for a colossal $2tn valuation hinge on a strong oil price. ...
Firms pledge to recruit more over-50s image
Source : BBC [Read Article] Tuesday 23rd of May 2017 11:27:18 AM
....5 million more jobs, but only seven million younger workers entering the workplace. He said older workers were vital in filling the UK's "colossal skills gap". ...
Last-ditch RBS talks continue as court is adjourned for a second day image
Source : Guardian [Read Article] Tuesday 23rd of May 2017 08:55:34 AM
.... But it is thought the bailed-out bank is offering about £200m to the 9,000 private shareholders and a handful of major City institutions over their claim that they were misled during the £12bn cash call. The rights issue, at the time a record-breaking fundraising, took place six months before the £45bn taxpayer bailout of the Edinburgh-based bank that left shareholders nursing heavy losses. ...
What you should do before repatriating proceeds from your foreign property sale image
....866, you might decide that transfer using an instantaneous "spot transfer" is the best option. If you already have the money, but exchange rates are not favourable, you can use "limit orders" and "stop loss orders" to protect yourself and wait for a better rate. ...
RBS offers £200m to avert court case brought by 9,000 investors image
Source : Guardian [Read Article] Monday 22nd of May 2017 07:15:06 AM
....The bank is thought to have made an offer worth about £200m, based on 82p a share, although Reuters was reporting that investors were holding out for 100p a share. The investors’ claim reaches £800m if interest is included on top of the £520m of losses – although the offer from RBS is double that agreed with other investors who have already settled. ...
Cathay Pacific cuts hundreds of jobs in major shake-up image
Source : BBC [Read Article] Monday 22nd of May 2017 02:21:31 AM
....The cuts include 190 management jobs and 400 non-management staff working at its head office in Hong Kong. In March, the airline said it would save 30% in employee costs at its head office after it posted its first annual loss in eight years. ...
Scottish Power lands US wind farm deal image
Source : BBC [Read Article] Sunday 21st of May 2017 04:38:25 PM
.... It's great to be creating opportunities and developing skills in the UK, but also to see these being exported. Mr Anderson said the "huge amount of land" in the US had made "colossal wind farms possible onshore". ...
Marks & Spencer to report slump in clothing sales after short-lived boost image
.... He upped the ante in the autumn, unveiling a five-year plan to slash the amount of trading space devoted to clothing by 10% and instead focus on the expansion of its upmarket food halls. Rowe also pulled the plug on 53 company-run stores in loss-making overseas markets including China, France, Belgium and Poland. ...
Brexit and the coming food crisis: ‘If you can’t feed a country, you haven’t got a country’ image
.... Every single one is interviewed for a job by a member of Kay’s team; they run temporary recruitment centres in town halls and civic libraries across eastern Europe. At the farm, amid glasshouses of glossy strawberries planted at shoulder height for easy picking, I meet Zyulfie Yusein, 29, and Nikoloy Kolev, 34. ...
Five minute guide to investing in the UK's big banks image
Source : Daily Express [Read Article] Sunday 21st of May 2017 12:01:00 AM
....8billion buying shares in Royal Bank of Scotland, plus another £11billion on financing costs. The state still holds a 72 per cent stake in RBS, which Hammond recently admitted may have to be sold off at a loss. ...
A new Green Deal bond that pays 12% interest – too good to be true? image
Source : Guardian [Read Article] Saturday 20th of May 2017 06:00:17 AM
.... The £5m it is looking to raise would be used to accelerate this rollout. However, potential investors should be aware that this is currently a loss-making business, and whether it can turn its plans into a money-making reality remains to be seen. ...
Mine craft: why BHP's strategic overhaul could help repel a hedge fund predator image
....”. The move appeared to bookend a happy period when the Anglo-Australian mining colossus had rediscovered its direction after 19 people were killed in a disastrous dam burst at an iron ore joint venture in Brazil in 2015 and the share price sank to a 10-year low. ...
Ex-RBS boss Fred Goodwin returns to spotlight in £520m court battle image
....Goodwin’s defence costs will be covered by the bank and have already reached £6. 5m – part of the colossal £125m legal bill RBS has incurred so far. ...
Mothercare looks to almost halve number of UK stores image
Source : Guardian [Read Article] Thursday 18th of May 2017 06:10:59 PM
....Newton-Jones was hired in 2014 to lead a turnaround of Mothercare, but confidence was knocked by poor trading last summer. Since taking the helm he has closed 100 loss-making UK outlets and modernised 70% of the remaining stores. ...
Asda suffers 11th quarter of falling sales image
Source : BBC [Read Article] Thursday 18th of May 2017 01:49:20 PM
....German discount rivals Aldi and Lidl have eaten into the Big Four's market share, although their rapid expansion of recent years has slowed. Tom Berry, associate retail analyst at GlobalData, said: "Asda's position as the main UK discounter prior to Aldi and Lidl's arrival, means they will suffer greatest in terms of losses in market share. ...
Ford looks to cut 1,400 jobs image
Source : BBC [Read Article] Wednesday 17th of May 2017 07:22:17 PM
....The downsizing comes as the US carmaker faces weak sales and declining profits. While the job losses are lower than early reports had suggested, the plan is part of an "accelerated attack on costs," the firm said. ...
Global stock markets fall as Trump turmoil intensifies image
Source : BBC [Read Article] Wednesday 17th of May 2017 05:31:25 PM
....7%, and the dollar erased most gains made since his election. Asia's main stock markets opened lower following the losses in New York. ...
Richard Branson says scammers are using his name to dupe investors image
Source : Guardian [Read Article] Wednesday 17th of May 2017 03:08:44 PM
.... This brand of fraud sees criminals pose as binary options traders on social networks such as Facebook and Twitter, often using the promise of unrealistically high returns on “investments” to lure potential victims. The City of London police, the lead police force for fraud, said there had been a large increase in cases of binary options fraud, with the number of reports tripling in the last financial year and losses increasing from £2m to £13m during the same period. ...
CRUSADER: Energy firm sees light over bad bill image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 02:15:00 PM
....”. But when Crusader went through the amounts of gas and electricity the couple were meant to have consumed and compared it to previous usage, colossal discrepancies quickly surfaced. ...
Ikea to create 1,300 UK jobs in three new stores image
Source : Guardian [Read Article] Wednesday 17th of May 2017 10:02:07 AM
....Ikea became an accredited living wage employer, under the independently verified scheme, early last year, and Drakeford said it had introduced other improvements to working conditions, including one weekend off in four for all employees, guaranteeing more contracted hours and staff rotas a month in advance, all of which was helping to retain workers. These improvements come as retailers and other businesses face the potential loss of workers from the EU. ...
Dementia news: The medical and financial benefits of power of attorney image
Source : Daily Express [Read Article] Wednesday 17th of May 2017 12:01:00 AM
.... . She says: “People can get nervous about discussing loss of mental capacity or end-of-life planning. ...
M&S puts faith in fluted sleeves as womenswear comes out fighting image
Source : Guardian [Read Article] Tuesday 16th of May 2017 05:23:05 PM
....Recent trophy boardroom appointments and a new marketing campaign have contrasted with imminent store closures, and whisperings of further disappointing sales figures on the horizon as the brand continues to shift its focus from clothes to food. But fashion came out fighting on Tuesday at the press preview for next season’s womenswear range, as Marks and Spencer revealed a chic lineup of grown-up high street dressing at a glossy Mayfair venue. ...
Share sale returns Lloyds to private sector image
Source : BBC [Read Article] Tuesday 16th of May 2017 04:54:38 PM
....However, the true cost is disputed, with some critics claiming the lost interest has not been taken into account. Others have argued that the heavy losses previously suffered by Lloyds also hit the government's stake. ...
Lloyds reaches landmark as government sells final shares image
Source : Guardian [Read Article] Tuesday 16th of May 2017 04:45:44 PM
....6p average price that taxpayers paid them in three stages during the crisis – and, Gordon pointed out, similar to the 69p level they were trading at when Horta-Osório was appointed to the role. While the last chunk of shares have been sold at a loss, below that breakeven price, the bulk were sold at a profit. ...
Tata Steel offers to pump £550m into closed pension fund image
Source : BBC [Read Article] Tuesday 16th of May 2017 04:01:04 PM
....The cost of the cash injection into the pension scheme meant that the wider Tata Steel company fell into the red in the last three months of the 2016-17 financial year. It declared a loss for the quarter of $182m. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
.... That assumes that people don’t change the way they behave as a result of the higher taxes and that companies don’t shift their operations out of the UK. Labour has made an allowance of £4bn for possible losses that might occur as a result of behavioural change, but on the side of the ledger has included £6. ...
Manchester United reports £3.8m loss but revenue rises image
Source : BBC [Read Article] Tuesday 16th of May 2017 11:46:12 AM
. Manchester United has reported a loss for the first three months of the year as operating expenses soared. ...
FTSE 100's record-breaking streak continues image
Source : BBC [Read Article] Tuesday 16th of May 2017 09:33:01 AM
....1663 euros. Vodafone was the biggest riser on the FTSE 100, with the mobile giant's shares rising nearly 4% as investors overlooked a hefty annual loss and focused on its upbeat outlook. ...
EasyJet half-year loss widens on weaker pound image
Source : BBC [Read Article] Tuesday 16th of May 2017 07:28:42 AM
. EasyJet has reported a larger loss for the the first half of its financial year, partly due to the impact of the lower pound and the timing of Easter. ...
Banks 'must show action' in fraud cases image
Source : BBC [Read Article] Monday 15th of May 2017 11:01:27 PM
....In one example highlighted by Which?, Christopher Mills, from York, was tricked into paying a £10,000 house deposit to a fraudster who posed as his estate agent. The bank refused to cover his loss. ...
McDonald's apologises for 'offensive' television advert image
Source : BBC [Read Article] Monday 15th of May 2017 06:04:22 PM
....Sarah Fox's husband died two years ago. The 37-year-old from London said her seven-year-old son, who saw the advert, had only just started to understand the implications of his loss. ...
Kelvin MacKenzie leaves the Sun 'by mutual consent' image
Source : BBC [Read Article] Monday 15th of May 2017 03:07:07 PM
....On his departure, Mr MacKenzie said: "I refuse to allow this latest controversy to cast a shadow over the decades of great times I have had with The Sun. "There are plenty of opportunities out there and I agree with Winston Churchill who said: 'Success consists of going from failure to failure without loss of enthusiasm'. ...
BP shareholders urged to reject chief's £9m pay package image
Source : Guardian [Read Article] Monday 15th of May 2017 09:12:53 AM
....BP shareholders are being urged to vote against executive pay packages this week on the grounds they are too high and not taking climate change seriously. The UK-based firm suffered a rare and humiliating shareholder rebellion last year when chief executive Bob Dudley’s £14m pay package was voted down, against the backdrop of record company losses. ...
Troubled Toshiba misses annual results deadline image
Source : BBC [Read Article] Monday 15th of May 2017 04:54:42 AM
. Toshiba has missed a deadline to file its annual results, but warned it was likely to report a loss of 950bn yen ($8. ...
Pension warning: Savers lose RECORD amounts to scams as fraudsters rinse pots image
....Since the introduction of so-called pension freedoms in April 2015, which allows over-55s to access savings, more people have been targeted by scammers. Overall £13million in losses were reported over the year to March 2016, showed the police figures reported by the Financial Times. ...
April cold weather could cause a shortage of British fruit, say farmers image
....English winemakers have already reported “catastrophic” crop damage after the worst frost in a generation wiped out at least half of this year’s grape harvest. Capper, who grows apples and hops in Worcestershire, said fruit farmers were playing a waiting game after last month’s Arctic blast damaged fruit blossom at a crucial stage of development. ...
Australian cricketers could strike over contract dispute image
Source : BBC [Read Article] Sunday 14th of May 2017 08:21:57 AM
....A letter from CA chief executive James Sutherland to the players' association said 2016-17 contracts would not be renewed without a new agreement. But the ACA said the proposal was "a win for cricket administrators but a loss for cricket". ...
General election 2017: 'Robin Hood tax' on City pledged by Labour image
....If Labour's plans came to fruition, critics say these transactions would simply move elsewhere or the costs would be passed on to the likes of pensions funds, ultimately hitting consumers. That's on top of worries over the potential loss of business and jobs in the City because of Brexit. ...
Mohamed El-Erian: ‘We get signals that the system is under enormous stress’ image
.... No one would have predicted all those events 18 months ago. Why aren’t the financial markets in uproar at the loss of so many supposed certainties? On Brexit, El-Erian says politicians were smart to slow down the process, extend the timetable and avoid being forced into decisions by markets. ...
These are the UK markets I’d meddle in. What would yours be? image
Source : Guardian [Read Article] Saturday 13th of May 2017 06:00:39 AM
.... Is that the picture of San Francisco that comes to mind? A similar cap in London would have prevented the appalling situation where young adults are shelling out northwards of 70% of their take-home pay to find a bed. Leasehold A once relatively minor issue that has grown colossally in recent years – with out-of-control ground rents, management service charges and absurd bills for lease extensions. ...
US retail sales rise as stores struggle image
Source : BBC [Read Article] Friday 12th of May 2017 05:29:48 PM
.... Ellison said. The company posted a net loss of $180m, more than double last year, in part due to the costs related to plans for more than 100 store closures. ...
Improbable sums? Cambridge graduates' tech firm raises $500m image
Source : Guardian [Read Article] Friday 12th of May 2017 08:24:58 AM
....The company is working with Bossa Studios on launching a giant multiplayer game called World’s Adrift with one virtual area “the size of Wales”. The company made a loss of £8m in the year to the end of May 2016, according to the most recently available figures at Companies House. ...
Aldi plans to open up to eight stores in some UK towns image
Source : Guardian [Read Article] Thursday 11th of May 2017 06:56:14 PM
....7bn. At the time Barnes said it would keep cutting prices to keep them below the likes of Asda, Sainsbury’s, Tesco and Morrisons, even “if losses are an inevitable consequence”. ...
BT deserves credit – clawing back boss's bonus is common sense | Nils Pratley image
....Elizabeth Corley, chair of Pearson’s remuneration committee, should call her BT counterpart, Tony Ball, for a lesson in what using “discretion” means. Corley’s crew dished out a £343,000 bonus to chief executive John Fallon after a year of record losses for the educational publisher, an astonishing decision that triggered a 60% revolt by shareholders. ...
Lloyds chief says taxpayer to make £500m on bank rescue image
Source : BBC [Read Article] Thursday 11th of May 2017 04:26:56 PM
....Lloyds's progress is in marked contrast to Royal Bank of Scotland, which was also bailed out in 2008 at a cost of £45bn. Chancellor Philip Hammond recently admitted that it is likely the government will sell its shares in RBS at a loss and it will only begin to divest once legacy issues at the bank are resolved. ...
PwC fined £5m over Connaught audit misconduct image
Source : BBC [Read Article] Thursday 11th of May 2017 10:35:26 AM
.... At one stage, it had a market value of more than £500m. It ran into serious difficulties after it emerged that a series of contracts would be loss-making. ...
Adidas finds buyer for its golf unit image
Source : BBC [Read Article] Thursday 11th of May 2017 07:22:31 AM
....Adidas does not report the profitability of the golf unit, which sits in a bigger division called Other Businesses. The unit reported a loss of 14m euros last year, with golf making up more than half of its sales. ...
BT chief's pay package slashed by £4m over Italian accounting scandal image
.... The company currently employs 102,000 worldwide, with the restructuring expected to save the company £300m over two years. The bonus cuts and job losses follow huge problems at BT’s global services division, which provides IT and communications services to clients ranging from the BBC to Bromley borough council. ...
I fear easyJet has cancelled my flights but hasn’t even told me image
Source : Guardian [Read Article] Thursday 11th of May 2017 06:00:41 AM
.... I think it is more likely that the flight has been taken off the schedule, but the airline is delaying informing its customers (or refunding them). I feel it has a moral obligation to let me know as soon as possible so I can look for an alternative flight while prices are still reasonable, and to prevent me from any loss when I start to pay out for hotels, etc. ...
Aw Snap: Snapchat parent company's value plummets after earnings report image
Source : Guardian [Read Article] Wednesday 10th of May 2017 09:22:36 PM
....Snapchat’s parent company Snap Inc lost nearly a quarter of its value on Wednesday when its newly listed shares went into a nosedive after the company reported a $2. 2bn loss and slowing growth. ...
Snap shares slide as growth slows image
Source : BBC [Read Article] Wednesday 10th of May 2017 08:59:46 PM
....The news sent shares tumbling more than 20% in after-hours trading in New York. Snap's adjusted loss of $188. ...
Noel Edmonds demands £73m compensation over HBOS fraud image
Source : Guardian [Read Article] Wednesday 10th of May 2017 10:12:13 AM
....Noel Edmonds has demanded £73m in compensation from Lloyds Banking Group for what he claims was the destruction of his business empire together with public humiliation and damage to his reputation caused by the fraudulent activities of the bank’s HBOS Reading arm. In a letter to the Lloyds chief executive, António Horta-Osório, lawyers for the TV presenter allege that he “suffered immense economic loss as well as (to put it very mildly) ‘distress and inconvenience’ at the hands of your bank as a direct result of the actions” of the individuals involved in the fraud at the Berkshire branch. ...
Investors should get a bigger say on executive pay, says IoD image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:25:49 AM
....Education group Pearson was the latest firm to suffer a pay rebellion. Last week more than two-thirds of investors voted against the group’s pay report after the company paid a bonus of £343,000 to chief executive John Fallon despite the business posting the biggest loss in its history. ...

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