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....First MTR will take over the franchise from Stagecoach on 20 August, during a period of major disruption on South Western, with fewer trains running during the upgrade of its London Waterloo terminus. The transport minister Paul Maynard said: “This multimillion-pound investment in a new fleet of British-built trains is excellent news for South West passengers and the British economy. ... [Read full article on Guardian ]
Tuesday 20th of June 2017 09:01:04 AM
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. First it lured Natalie Massenet, the queen of online luxury, then it teamed up with fashion bible Vogue, and now it has won a multi-million pound investment from China’s biggest retailer: London-based fashion website Farfetch has rapidly gone from edgy outsider to hot ticket. ... [Read full article on Guardian ]
Friday 23rd of June 2017 11:11:44 PM
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.... “Why change a system that has worked well for 25 years for both poor farmers and large supermarkets?” asked one. Had not the supermarket reaped tens of millions of pounds’ profit and huge moral kudos by pioneering Fairtrade and inviting customers to pay a bit more for their produce?. ... [Read full article on Guardian ]
Saturday 24th of June 2017 11:02:13 PM
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. Four former Barclays executives could face lengthy jail sentences after the Serious Fraud Office charged them and the bank with fraud over the way Barclays raised billions of pounds from Qatar at the height of the financial crisis. ... [Read full article on Guardian ]
Tuesday 20th of June 2017 06:48:09 AM
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....“The mood among our members is that energy policy is on pause and ministers need to hit the play button,” said Louise Kingham, chief executive of the Energy Institute. Among the list of stalled government decisions are the fate of a multimillion-pound competition to build mini nuclear power plants and whether to strike a subsidy deal for a pioneering tidal lagoon at Swansea. ... [Read full article on Guardian ]
Monday 26th of June 2017 05:58:13 AM
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.... It was also left trailing behind the world’s advanced economies. As the pound’s sharp drop since the referendum works its way through the economy into higher prices in the shops, the pressures on consumer spending threaten to keep growth in the doldrums. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:36 AM
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....Bond Street is the most expensive place in Britain to run a store, with fashion brands paying top dollar to be located alongside the biggest names in luxury including Louis Vuitton, Chanel, Dior and Hermès. Many shops have decided to leave despite the surge in well-heeled tourists shopping in the capital since the Brexit vote, which slashed the value of the pound and overnight made London cheaper for foreign tourists. ... [Read full article on Guardian ]
Sunday 25th of June 2017 01:45:36 PM
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. Advertisers will pull hundreds of millions of pounds in spending from Google and Facebook this year over concerns about ads running next to inappropriate content such as extremist sites and fake news. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 06:14:48 AM
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....”. Mass collapses bring factories to a standstill and cost “hundreds of thousands” of pounds in lost productivity, according to the Garment Makers Association in Cambodia. ... [Read full article on Guardian ]
Saturday 24th of June 2017 11:04:13 PM
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. British businesses face their biggest challenge in recruiting skilled labour in a decade, as high employment combines with a fall in the value of the pound and uncertainty about the future for EU nationals in the UK. ... [Read full article on Guardian ]
Sunday 25th of June 2017 11:01:43 PM
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. Britain’s manufacturers are enjoying the strongest demand for their products in almost 30 years as a recovering global economy and a weaker pound boost order books. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:55:53 AM
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....But analysts said this still meant the government would fail to meet its previous plan of reducing the deficit in every year of the parliament, with the gap between government income and spending heading towards £58bn, compared with £47bn last year. The economy has slowed dramatically since the start of the year as the prospect of Brexit negotiations unnerved businesses and the lower value of the pound fed through into increased inflation, causing living standards to fall. ... [Read full article on Guardian ]
Wednesday 21st of June 2017 10:49:47 AM
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.... “We have worked with jobcentres and with ex-prisoners, but British people don’t want to do these jobs,” he said. British Summer Fruits says the industry is already suffering form labour shortages as the fall in the value of the pound has reduced take-home pay for EU nationals, while some feel less welcome, or even fear being attacked, since the Brexit vote. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 12:00:22 AM
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.... On Tuesday morning at the Mansion House in the City of London, Mark Carney was clearly worried about the impact of Brexit, Britain’s low productivity and slow wages growth. The Bank’s governor would vote against raising rates for a long time to come, he said in a speech that sent the pound plummeting. ... [Read full article on Guardian ]
Sunday 25th of June 2017 06:00:22 AM
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. Britain’s consumers and UK-focused firms are among the biggest losers one year on from the shock Brexit vote that drove the value of the pound to its lowest level in more than 30 years. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 11:01:08 PM
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.... Last week the carmaker revealed amid a fanfare of publicity that it would be hiring 5,000 extra engineers and, with less fanfare, that it would begin work on its next-generation electric car in Austria. Very simply, the company appears to have made a judgment that for the next two to three years the pound will remain low and, with this discount in place on its exports, it will profit from shifting a huge volume of diesel cars from factories in the West Midlands and Merseyside to the rest of the world. ... [Read full article on Guardian ]
Saturday 24th of June 2017 04:05:04 PM
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....Sterling rose on the foreign exchanges after Haldane spoke, with the City reassessing its view that interest rates would stay unchanged well into 2018. At one point, the pound was up three quarters of a cent against the US dollar to $1. ... [Read full article on Guardian ]
Wednesday 21st of June 2017 11:09:59 AM
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Wednesday 21st of June 2017 07:30:28 AM
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....Battersea Power Station Development Company, backed by a group of Malaysian investors, argues that the entire project may become financially unviable if it sticks to its previous plans. It cited “technical issues” relating to the restoration of the Grade II listed power station and cost increases, partly caused by the weaker pound. ... [Read full article on Guardian ]
Wednesday 21st of June 2017 04:50:02 PM
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....Lewis said last year that retailers faced a “potentially lethal cocktail” as profits slump and costs rise. Rising competition from the discounters Aldi and Lidl has also forced traditional supermarkets to hold down prices at a time of rising costs resulting from the fall in the value of the pound against the euro and the dollar. ... [Read full article on Guardian ]
Wednesday 21st of June 2017 02:05:28 PM
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....After a night spent shivering in the cold, damp flat and going to bed in thermals, hoodie and a fleece, he says: “It hasn’t been cared for, and maintenance issues were not reported … I’m disappointed with Linda not coming forward. ” He gets angry that a repair job that could have been done for a few pounds if spotted early, will now set him back £400. ... [Read full article on Guardian ]
Saturday 24th of June 2017 06:00:00 AM
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....There have been economic consequences of the referendum. The pound’s fall has made imports dearer and contributed to a squeeze on living standards, but it has helped manufacturers who, according to the CBI, have the strongest order books in three decades. ... [Read full article on Guardian ]
Sunday 25th of June 2017 01:05:57 PM
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...."But they will eventually, and when they do, we could see rates rise to one or two per cent quite quickly. "With many households already feeling the strain of higher day-to-day costs, monthly mortgage payments going up by several hundred pounds a month could tip them over the edge. ... [Read full article on Daily Express ]
Wednesday 21st of June 2017 12:01:00 AM
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....The move comes after a five-year investigation into the bank’s £11. 8bn emergency fundraising at the height of the 2008 financial crisis, when it raised billions of pounds from Qatar. ... [Read full article on Guardian ]
Tuesday 20th of June 2017 02:17:46 PM
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.... “The fight for safety and access to services on Southern rail goes on,” he said. “Chris Grayling can cut and paste Gibb however he likes to try and prop up the basket-case GTR operation, but the passengers forking out thousands of pounds a year for Britain’s worst rail service won’t buy it. ... [Read full article on Guardian ]
Thursday 22nd of June 2017 09:33:08 AM
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....The research chimes with other evidence that the Brexit vote has prompted some workers from other EU countries to leave already or consider going. This is partly because of uncertainty around the UK’s economic outlook and because any money those workers earn in pounds is now worth less in euros for them to send home. ... [Read full article on Guardian ]
Monday 26th of June 2017 11:01:14 PM
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....A new report claims consumers are being “fleeced” to the tune of more than £5bn a year by making bad currency decisions, writes Rupert Jones. The research by currency firm FairFX says this includes £190m in ATM fees for withdrawing cash abroad, £644m in debit and credit card fees on purchases, and £380m lost as a result of people opting to pay in pounds instead of the local currency (the “dynamic currency conversion” trick). ... [Read full article on Guardian ]
Saturday 24th of June 2017 05:59:00 AM
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. The Co-operative Bank has abandoned talks over a sale after edging closer to clinching a deal with hedge funds to stump up millions of pounds to bolster its financial position. ... [Read full article on Guardian ]
Monday 26th of June 2017 05:25:23 PM
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Latest Finance News related to Pound

Almost half of highly skilled EU workers 'could leave UK within five years' image
....The research chimes with other evidence that the Brexit vote has prompted some workers from other EU countries to leave already or consider going. This is partly because of uncertainty around the UK’s economic outlook and because any money those workers earn in pounds is now worth less in euros for them to send home. ...
Co-op Bank abandons sale talks as it edges towards rescue deal image
Source : Guardian [Read Article] Monday 26th of June 2017 05:25:23 PM
. The Co-operative Bank has abandoned talks over a sale after edging closer to clinching a deal with hedge funds to stump up millions of pounds to bolster its financial position. ...
Tenant fees ARE a rip-off, says letting agent that welcomes ban  image
Source : Daily Express [Read Article] Monday 26th of June 2017 02:47:00 PM
....Hefty charges on renters will soon be banned in a bid to relieve the pressure on people who don't own their home, it was confirmed in the Queen's Speech. Many agents currently charge hundreds of pounds for referencing services, which tenants are obliged to pay for. ...
UK on track to miss carbon emissions target due to stalled energy policy image
....“The mood among our members is that energy policy is on pause and ministers need to hit the play button,” said Louise Kingham, chief executive of the Energy Institute. Among the list of stalled government decisions are the fate of a multimillion-pound competition to build mini nuclear power plants and whether to strike a subsidy deal for a pioneering tidal lagoon at Swansea. ...
Skilled labour shortage fuelled by uncertainty for EU workers image
Source : Guardian [Read Article] Sunday 25th of June 2017 11:01:43 PM
. British businesses face their biggest challenge in recruiting skilled labour in a decade, as high employment combines with a fall in the value of the pound and uncertainty about the future for EU nationals in the UK. ...
Bond Street: status of UK's most exclusive shopping street under threat image
....Bond Street is the most expensive place in Britain to run a store, with fashion brands paying top dollar to be located alongside the biggest names in luxury including Louis Vuitton, Chanel, Dior and Hermès. Many shops have decided to leave despite the surge in well-heeled tourists shopping in the capital since the Brexit vote, which slashed the value of the pound and overnight made London cheaper for foreign tourists. ...
With politics turned on its head, Labour sticks to Brexit ambiguity image
Source : Guardian [Read Article] Sunday 25th of June 2017 01:05:57 PM
....There have been economic consequences of the referendum. The pound’s fall has made imports dearer and contributed to a squeeze on living standards, but it has helped manufacturers who, according to the CBI, have the strongest order books in three decades. ...
Uber and the ‘brogrammers’ feel the consequences of changing the world image
.... On Tuesday morning at the Mansion House in the City of London, Mark Carney was clearly worried about the impact of Brexit, Britain’s low productivity and slow wages growth. The Bank’s governor would vote against raising rates for a long time to come, he said in a speech that sent the pound plummeting. ...
Cambodian female workers in Nike, Asics and Puma factories suffer mass faintings image
....”. Mass collapses bring factories to a standstill and cost “hundreds of thousands” of pounds in lost productivity, according to the Garment Makers Association in Cambodia. ...
Move by UK supermarkets threatens to bring Fairtrade crashing down image
Source : Guardian [Read Article] Saturday 24th of June 2017 11:02:13 PM
.... “Why change a system that has worked well for 25 years for both poor farmers and large supermarkets?” asked one. Had not the supermarket reaped tens of millions of pounds’ profit and huge moral kudos by pioneering Fairtrade and inviting customers to pay a bit more for their produce?. ...
Exporters are wise to start preparing for a hard Brexit image
Source : Guardian [Read Article] Saturday 24th of June 2017 04:05:04 PM
.... Last week the carmaker revealed amid a fanfare of publicity that it would be hiring 5,000 extra engineers and, with less fanfare, that it would begin work on its next-generation electric car in Austria. Very simply, the company appears to have made a judgment that for the next two to three years the pound will remain low and, with this discount in place on its exports, it will profit from shifting a huge volume of diesel cars from factories in the West Midlands and Merseyside to the rest of the world. ...
Life swap … landlords are being given the chance to live like their tenants image
....After a night spent shivering in the cold, damp flat and going to bed in thermals, hoodie and a fleece, he says: “It hasn’t been cared for, and maintenance issues were not reported … I’m disappointed with Linda not coming forward. ” He gets angry that a repair job that could have been done for a few pounds if spotted early, will now set him back £400. ...
Holiday car hire: how to avoid the add-ons that can double your bill image
Source : Guardian [Read Article] Saturday 24th of June 2017 05:59:00 AM
....A new report claims consumers are being “fleeced” to the tune of more than £5bn a year by making bad currency decisions, writes Rupert Jones. The research by currency firm FairFX says this includes £190m in ATM fees for withdrawing cash abroad, £644m in debit and credit card fees on purchases, and £380m lost as a result of people opting to pay in pounds instead of the local currency (the “dynamic currency conversion” trick). ...
Handbags at dawn with Farfetch, the latest thing in upmarket online fashion image
. First it lured Natalie Massenet, the queen of online luxury, then it teamed up with fashion bible Vogue, and now it has won a multi-million pound investment from China’s biggest retailer: London-based fashion website Farfetch has rapidly gone from edgy outsider to hot ticket. ...
One year on from Brexit vote: business's winners and losers image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:08 PM
. Britain’s consumers and UK-focused firms are among the biggest losers one year on from the shock Brexit vote that drove the value of the pound to its lowest level in more than 30 years. ...
UK manufacturing soars thanks to weak pound and global recovery image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:55:53 AM
. Britain’s manufacturers are enjoying the strongest demand for their products in almost 30 years as a recovering global economy and a weaker pound boost order books. ...
Brexit economy: UK faces slowdown amid living standards squeeze image
Source : Guardian [Read Article] Thursday 22nd of June 2017 11:01:36 AM
.... It was also left trailing behind the world’s advanced economies. As the pound’s sharp drop since the referendum works its way through the economy into higher prices in the shops, the pressures on consumer spending threaten to keep growth in the doldrums. ...
Southern tried to run too many trains on poor infrastructure: report image
Source : Guardian [Read Article] Thursday 22nd of June 2017 09:33:08 AM
.... “The fight for safety and access to services on Southern rail goes on,” he said. “Chris Grayling can cut and paste Gibb however he likes to try and prop up the basket-case GTR operation, but the passengers forking out thousands of pounds a year for Britain’s worst rail service won’t buy it. ...
Google and Facebook 'will lose millions in ads over extremism fears' image
Source : Guardian [Read Article] Thursday 22nd of June 2017 06:14:48 AM
. Advertisers will pull hundreds of millions of pounds in spending from Google and Facebook this year over concerns about ads running next to inappropriate content such as extremist sites and fake news. ...
British farmers warn loss of EU workers will see strawberry prices soar image
Source : Guardian [Read Article] Thursday 22nd of June 2017 12:00:22 AM
.... “We have worked with jobcentres and with ex-prisoners, but British people don’t want to do these jobs,” he said. British Summer Fruits says the industry is already suffering form labour shortages as the fall in the value of the pound has reduced take-home pay for EU nationals, while some feel less welcome, or even fear being attacked, since the Brexit vote. ...
Battersea Power Station developer slashes number of affordable homes image
Source : Guardian [Read Article] Wednesday 21st of June 2017 04:50:02 PM
....Battersea Power Station Development Company, backed by a group of Malaysian investors, argues that the entire project may become financially unviable if it sticks to its previous plans. It cited “technical issues” relating to the restoration of the Grade II listed power station and cost increases, partly caused by the weaker pound. ...
Tesco staff 'shocked' as call centre closure puts 1,100 jobs at risk image
Source : Guardian [Read Article] Wednesday 21st of June 2017 02:05:28 PM
....Lewis said last year that retailers faced a “potentially lethal cocktail” as profits slump and costs rise. Rising competition from the discounters Aldi and Lidl has also forced traditional supermarkets to hold down prices at a time of rising costs resulting from the fall in the value of the pound against the euro and the dollar. ...
Bank of England rift as chief economist ponders interest rate rise image
Source : Guardian [Read Article] Wednesday 21st of June 2017 11:09:59 AM
....Sterling rose on the foreign exchanges after Haldane spoke, with the City reassessing its view that interest rates would stay unchanged well into 2018. At one point, the pound was up three quarters of a cent against the US dollar to $1. ...
UK budget deficit to increase this year amid living standards squeeze image
Source : Guardian [Read Article] Wednesday 21st of June 2017 10:49:47 AM
....But analysts said this still meant the government would fail to meet its previous plan of reducing the deficit in every year of the parliament, with the gap between government income and spending heading towards £58bn, compared with £47bn last year. The economy has slowed dramatically since the start of the year as the prospect of Brexit negotiations unnerved businesses and the lower value of the pound fed through into increased inflation, causing living standards to fall. ...
Record low interest rates send house prices SOARING for homeowners image
Source : Daily Express [Read Article] Wednesday 21st of June 2017 12:01:00 AM
...."But they will eventually, and when they do, we could see rates rise to one or two per cent quite quickly. "With many households already feeling the strain of higher day-to-day costs, monthly mortgage payments going up by several hundred pounds a month could tip them over the edge. ...
Derby-based Bombardier beats German rival to £900m train contract image
Source : Guardian [Read Article] Tuesday 20th of June 2017 09:01:04 AM
....First MTR will take over the franchise from Stagecoach on 20 August, during a period of major disruption on South Western, with fewer trains running during the upgrade of its London Waterloo terminus. The transport minister Paul Maynard said: “This multimillion-pound investment in a new fleet of British-built trains is excellent news for South West passengers and the British economy. ...
Senior Barclays bankers charged with fraud over credit crunch fundraising image
. Four former Barclays executives could face lengthy jail sentences after the Serious Fraud Office charged them and the bank with fraud over the way Barclays raised billions of pounds from Qatar at the height of the financial crisis. ...
UK economy will slow amid Brexit talks and pay squeeze, warns CBI image
Source : Guardian [Read Article] Monday 19th of June 2017 11:01:49 PM
.... Growth should be steady, if restrained, over the next couple of years as the pace of the economy shifts down a gear,” said Carolyn Fairbairn, the CBI director general. Fairbairn warned the strain on households was likely to continue as the pound’s weakness since the Brexit vote pushed up the cost of imports and stoked inflation. ...
Co-op Bank has lost £2.6bn since the crisis – but can still bounce back | Nils Pratley image
....The hedge funds’ returns to date are impossible to calculate, not least because the cast has changed over the years. For example, those that originally paid 50p in the pound for bonds paying an 11% rate of interest haven’t done too badly, even if they now have to convert into shares. ...
Co-op Bank in advanced talks to secure hundreds of millions for rescue image
....The UK’s largest mutual, which owns supermarkets and funeral homes, has a 20% stake in the bank, which put itself up for sale in February in a search for £750m of extra funding. But under a proposal being discussed by the bank’s controlling hedge fund shareholders, this stake could drop towards zero unless the group decides to pump millions of pounds into the loss-making bank. ...
Jaguar Land Rover to recruit 5,000 staff after record year of sales image
Source : Guardian [Read Article] Sunday 18th of June 2017 04:50:45 PM
....Its expansion plans will bolster hopes that the UK’s export sector can help offset some of the domestic pressures on the economy in the years ahead as household budgets continue to be squeezed by weak pay growth and rising inflation on the back of the slide in sterling triggered by Brexit. The pound’s weakness since the referendum has made imports to the UK more expensive, but it has also been a boon to some exporters because it makes their goods more competitive in overseas markets. ...
 Five minute guide to making mobile calls in the UK image
Source : Daily Express [Read Article] Sunday 18th of June 2017 12:01:00 AM
....uk, says this is good news for holidaymakers heading to France, Spain, Italy and other EU hotspots. “With the pound down sharply against the euro this is one extra cost you do not have to worry about while you are away. ...
REVEALED: 5 simple tricks to increase your pension and BEAT threatened cuts after election image
.... The government’s free and impartial guidance service, Pension Wise can help people understand their options. And a few simple steps can lift income by thousands of pounds. ...
British workers are missing out on ‘buy one, get one free’ pension offer image
....When pay rises may be limited, getting your employer to contribute more to pensions can be a cost-effective strategy. With some schemes you get a pound-for-pound match from the employer. ...
You’re unsuited to your company, not your job’ – our work expert responds image
....I feel I am more of an incisive, results-orientated problem solver who works best independently, seeking input only when it is needed. I think my situation is compounded by the fact that I look the same age as other team members (they are early- to mid-20s) when I actually have many more years’ experience, so don’t feel the need to check what I do with others all the time. ...
Almost 1m UK bank customers will be forced to use new sort codes image
Source : Guardian [Read Article] Friday 16th of June 2017 06:15:07 PM
....In order to minimise the disruption these changes could cause customers, Proudman said, “banks will ensure that any outgoing payments, for example standing orders and direct debits, are made as normal”. The Bank of England regulator also revealed that the banking industry will have spent billions of pounds to meet the timetable for the new rules by 2019. ...
UK attracts record overseas tourists after pound's Brexit slide image
Source : Guardian [Read Article] Friday 16th of June 2017 11:47:05 AM
....Record numbers of overseas visitors came to the UK in April, and spent record amounts of money in shops, hotels and restaurants in fresh evidence of a fillip to tourism from the steep fall in sterling. But the pound’s decline has left cash-strapped Britons forced to stay at home or cut their spending overseas. ...
Tesco says price rises are last resort as UK growth hits seven-year high image
.... The discounters Aldi and Lidl are growing sales at their fastest rate in more than two years, while more shoppers are buying less or switching to cheaper own-label products as prices rise faster than many workers’ wages. Inflation has been increasing steadily since the EU referendum result a year ago, which triggered a sharp drop in the value of the pound and pushed up the cost of imported goods. ...
The eurozone must reform or die | Kenneth Rogoff image
Source : Guardian [Read Article] Friday 16th of June 2017 05:00:00 AM
.... For southern Europe as a whole, the single currency has proved to be a golden cage, forcing greater fiscal and monetary rectitude but removing the exchange rate as a critical cushion against unexpected shocks. Part of the reason the UK economy has held up well (so far) since last year’s Brexit referendum is that the pound fell sharply, increasing competitiveness. ...
Bank of England doves right to thwart hawks seeking interest rate rise image
Source : Guardian [Read Article] Thursday 15th of June 2017 01:18:37 PM
.... Inflation is heading above 3%, at which point the Bank’s governor, Mark Carney, will have to write an explanatory letter to the chancellor, Philip Hammond. The continued fall in unemployment also meant a tighter labour market and, although the weak pound has put the brakes on consumer spending by making imports dearer, the other side of the coin is that a more competitive currency is helping exports and encouraging businesses to invest. ...
IT meltdown has cost British Airways £80m so far, says Willie Walsh image
Source : Guardian [Read Article] Thursday 15th of June 2017 12:32:01 PM
....He promised they would “do everything to restore customers’ faith”. Romero said the last year had seen “very difficult circumstances” for the airline group, with the Brexit vote and subsequent collapse of the pound hitting profits. ...
UK retail sales dive sparks biggest FTSE 250 fall since last summer image
Source : Guardian [Read Article] Thursday 15th of June 2017 10:13:53 AM
....8% tracking the overall inflation rate, illustrating the decision of most retailers to pass on at least some of the increased cost of imports to consumers. After the EU referendum vote last year the pound plunged by almost a quarter, dramatically increasing the cost of imported goods. ...
Luxury cat hotels and 'fur-jazzles': pet care goes upmarket image
Source : Guardian [Read Article] Thursday 15th of June 2017 09:45:36 AM
. How much do we love our pets? The answer, it seems, can be measured in the billions of pounds we’re prepared to spend on them. ...
The Guardian view on austerity economics: it failed | Editorial image
Source : Guardian [Read Article] Wednesday 14th of June 2017 07:07:26 PM
.... The only reason it is not having a sterling crisis as well is because the financial markets are clinging to the hope that the inconclusive result of the election makes a softer Brexit more likely. Should that hope proved unfounded, the pound will drop sharply, adding to the squeeze on living standards. ...
Mulberry says terrorism and election uncertainty may have hit UK sales image
Source : Guardian [Read Article] Wednesday 14th of June 2017 05:00:13 PM
....Two-thirds of the brand’s bags sold outside the UK, and half of those sold in the UK, now come from Mulberry’s latest collections designed by its creative director, Johnny Coca, who also joined from Céline in 2015. Sales at established UK stores rose 5% in the year to 31 March as some London outlets enjoyed double digit growth in tourist visitors on the hunt for bargains prompted by the drop in the value of the pound against the euro and dollar since the Brexit vote last summer. ...
Ex-Barclays director who backed Vote Leave appointed City minister image
Source : Guardian [Read Article] Wednesday 14th of June 2017 04:45:30 PM
.... Before Barclays he had worked at the City regulator, the Financial Services Authority, and has previously said that attempts to clean up the financial sector from money laundering were flawed. In 2014, Barclay said: “When there is a high-risk multimillion-pound transaction, the bank files a suspicious activity report, but 93% of the reports are never read. ...
Brexit Bond offers top rate of 3% - if savers are RIGHT about UK's exit from EU image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 04:15:00 PM
. The Family Building Society is offering the deal to customers who are willing to either bet on the pound strengthening or weakening against the euro over the next two years. ...
UK pay squeeze breaks all sorts of records for all the wrong reasons | Larry Elliott image
.... Inflation was artificially low as a result of a temporary collapse in oil prices. The cost of crude has subsequently recovered a bit, but the depreciation of the pound since the Brexit referendum has also had the effect of pushing up the cost of living. ...
Pay squeeze intensifies as wage growth falls further behind inflation image
Source : Guardian [Read Article] Wednesday 14th of June 2017 08:35:03 AM
....When adjusted for inflation, UK employees are now earning £15 less a week after tax and deductions than they were in March 2008, six months before the collapse of Lehman Brothers and the global financial crisis. The latest drop in real wages reflects mounting pressure on household budgets, as the sharp drop in the value of the pound since the EU referendum drives up the cost of goods imported from abroad and feeds through to higher shop prices. ...
Shop around to tackle inflation as rate at four-time high image
Source : Daily Express [Read Article] Wednesday 14th of June 2017 08:20:00 AM
....6 per cent in April and 2. 3 per cent in March, with more expected as the pound weakens further after the election and pushes up the price of imported goods. ...
Incomes squeeze denied May a landslide – now she must change course image
Source : Guardian [Read Article] Tuesday 13th of June 2017 01:06:01 PM
.... The figures for May will be released on Wednesday, but are unlikely to show much change to the recent squeeze on living standards. The upward pressure on prices initially came from a recovery in oil prices, but has subsequently been the result of the fall in the value of the pound, which has made imports dearer. ...
British Airways looks to Capita to run call centres after IT meltdown image
Source : Guardian [Read Article] Tuesday 13th of June 2017 12:04:02 PM
....The GMB union said it was a “short-sighted” move from BA. Mick Rix, national officer for aviation, said: “Despite record profits, this is the latest penny wise and pound foolish plan from IAG BA and is consistent with those that led to the IT meltdown. ...
Visitor numbers fall at UK attractions after terrorist attacks image
Source : Guardian [Read Article] Tuesday 13th of June 2017 07:24:26 AM
....8% down. Business at Merlin’s London attractions had improved in the early part of 2017, as foreign visitors took advantage of the weaker pound. ...
UK employers plan to keep hiring despite Brexit and slow growth image
Source : Guardian [Read Article] Tuesday 13th of June 2017 05:01:47 AM
....Since the start of this year, the economy has lost steam as consumers have cut back on spending amid rising cost pressures. The pound’s sharp fall since the Brexit vote has made imports more expensive and official figures due on Tuesday are expected to show that inflation held at its highest level for more than three years last month. ...
Moody's warns election result will complicate Brexit talks image
Source : Guardian [Read Article] Monday 12th of June 2017 11:01:40 PM
....Moody’s, one of the big financial bodies that assigns credit scores to governments, said Theresa May’s failure to secure an outright majority would also hurt the UK’s standing on international debt markets because it was likely to result in more public borrowing. As the pound fell for the second consecutive session on Monday, a senior economist at another ratings agency, Standard & Poor’s, warned that already faltering UK economic growth would be weakened further by the latest bout of political instability. ...
Bosses are right: political uncertainty will damage the economy | Nils Pratley image
.... Exporters, too, had to be concerned that slashing investment overnight could be costly. The gift - for them - of a lower pound had to be exploited. ...
Bad EU trade deal 'disastrous' for UK jobs, investment and growth image
Source : Guardian [Read Article] Monday 12th of June 2017 01:07:11 PM
....In a report by the former shadow chancellor Ed Balls and Peter Sands, senior fellows at Harvard University’s Mossavar-Rahmani Center for Business and Government, UK businesses owners warned that a bad deal, or no deal, on Brexit would be disastrous for British jobs, investment and growth. The warning comes as financial speculators circle London’s stock markets and investors bet on the value of the pound, triggering a period of intense volatility while No 10 attempts to restore a sense of confidence in the government. ...
Quarter of households in UK will rent privately by end of 2021, says report image
....With rents rising rapidly in recent years, the key concern for tenants when looking at a rental property is affordability, the report says, although other surveys now indicate that rents are flatlining or even falling. Tenants also pay hundreds of pounds in letting fees every time they move. ...
UK household spending falls for first time since 2013 image
Source : Guardian [Read Article] Monday 12th of June 2017 04:30:17 AM
....Economists are worried that the inconclusive result of last week’s snap general election will add to the mood of uncertainty among consumers and businesses alike. That will compound the pressures from the pound’s sharp drop since the EU referendum, which has pushed up the cost of UK imports and stoked inflation. ...
If hard Brexit is dead, the odds on a chaotic one have shortened image
Source : Guardian [Read Article] Sunday 11th of June 2017 06:00:47 AM
....Investors’ ability to take a rosy view of an even deeper Brexit mess is remarkable. Sterling, the market’s usual prism for viewing the UK’s departure from the European Union, fell 2% on Friday but the pound is still higher than it was on the morning of 18 April, the day Theresa May announced her fateful plan to go to the country to secure a stronger negotiating hand. ...
While Corbyn inspired the young, May was terrifying the old image
Source : Guardian [Read Article] Sunday 11th of June 2017 06:00:47 AM
.... The focus of student anger was directed at the astronomical size of loans under the new scheme and the barely understandable tax system used to claw them back. Then there was the likelihood that the next generation would be saddled with billions of pounds of unpaid debts. ...
Brexit talks and government uncertainty cast a long cloud over business image
Source : Daily Express [Read Article] Sunday 11th of June 2017 12:01:00 AM
.... . This casts a long shadow over UK businesses, who have to make crucial investment and recruitment decisions against a backdrop of squabbling politicians, volatile stock markets, the weakened pound and our prickly relationship with the EU. ...
Five-minute guide to following your football team image
Source : Daily Express [Read Article] Sunday 11th of June 2017 12:01:00 AM
.... . Passionate fans think nothing of spending thousands of pounds a year on tickets, travel, club shirts, match programmes, and the odd pie and a pint, but some may be on to a loser. ...
Double whammy for British tourists as pound plunges and prices rise abroad image
....43 of two years ago. On Friday the pound suffered initial heavy losses during volatile trading as the impact of the inconclusive election rippled through the City. ...
Are cheap car loans the vehicle taking us to the next financial crash? image
Source : Guardian [Read Article] Saturday 10th of June 2017 03:00:29 PM
.... Could there be implications for consumers, the industry and the financial system, with knock-on effects to the economy?. The FLA says lenders can calculate the value of depreciation on a car to within a few pounds, based on what it describes as the “rich data” from the secondhand car market. ...
Deposit-free renting sounds good – or could tenants lose out? image
Source : Guardian [Read Article] Saturday 10th of June 2017 06:00:18 AM
....Deposits can be the bane of tenants’ lives. Not only do renters have to fork out hundreds of pounds in letting agent fees, but they usually have to stump up the equivalent of a month’s or six weeks’ rent as a deposit, too. ...
Pound recovers after sharp falls as political turmoil hits markets image
Source : Guardian [Read Article] Friday 9th of June 2017 04:46:50 PM
. The pound fell to an eight-week low and shares in housebuilders, banks and retailers lost ground after the shock election result, which increased uncertainty over both the forthcoming Brexit talks and the UK’s economic prospects. ...
Willie Walsh: 'I think some of the criticism of BA has been unfair' image
....It has been a busy couple of weeks for Walsh, since the bank holiday weekend meltdown of BA’s computer systems – evidently the result of a slip by a technician – that left planes grounded and tens of thousands of passengers’ holiday plans in tatters. The debacle’s enduring image was of crowds of would-be travellers stuck in Heathrow’s Terminal 5, with airline staff clueless what to advise – later compounded by the widespread loss of luggage and mealy-mouthed discussions of compensation. ...
Election 2017 pound latest: Should you buy euros and dollars after hung parliament? image
....27 against the dollar. The pound could stabilise in the coming days as the new  Conservative DUP coalition Government is formed, with some experts predict sterling could rise higher in the coming days if the election result means in a softer Brexit. ...

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