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.... But just as they were about to arrive in Marrakech, easyJet told her that her case hadn’t been put on that flight either. Despite racking up a bill of hundreds of pounds, easyJet has offered them £125 compensation which doesn’t even cover their phone bills. ... [Read full article on Guardian ]
Saturday 12th of August 2017 06:00:37 AM
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....To explain this, observers pointed to the nimble response of the Bank of England, which cut interest rates to prevent any softening of demand. They pointed to the big post-referendum depreciation of the pound, which promised to make British exports more competitive and offset any problems with the transition to a new trade regime. ... [Read full article on Guardian ]
Thursday 10th of August 2017 12:08:30 PM
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.... This is just one source of funding into Learndirect Limited”. The company, which has paid out tens of millions of pounds to its owners and managers since privatisation, had sought a court injunction to prevent the publication of a highly critical report by the education regulator Ofsted. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 07:03:32 PM
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....”. Amazon Europe, which is based in Luxembourg and aggregates the billions of pounds of sales the retailer makes from individual countries across the continent, reported a pre-tax profit of €59. ... [Read full article on Guardian ]
Thursday 10th of August 2017 08:15:53 AM
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.... “We have had several conversations with senior members of parliament to make sure they understand the strategic rationale,” he said. “We were not ready [to do the deal] last year when the pound was in a different position. ... [Read full article on Guardian ]
Wednesday 9th of August 2017 01:55:20 PM
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....Britain’s economy will surge back to life in the next six months following its slow start this year, a leading forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection. The National Institute of Economic and Social Research (NIESR) said a boom in exports after the fall in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to almost 2% and convince the central bank to increase the cost of borrowing. ... [Read full article on Guardian ]
Tuesday 1st of August 2017 11:01:30 PM
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....”. Abrahmsohn, who has sold dozens of multimillion-pound homes on and around The Bishops Avenue in Hampstead to billionaires from across the world, said his agency had secured a series of “mega deal” rentals recently and let properties worth £40,000 a week in aggregate. ... [Read full article on Guardian ]
Friday 18th of August 2017 02:39:09 PM
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.... Just as the cold nights start drawing in, more than 3 million Britons will find their bills are more expensive. Never mind that the competition watchdog judged last year that British Gas and other energy giants were taking well over a billion pounds a year through “excessive prices”. ... [Read full article on Guardian ]
Thursday 3rd of August 2017 07:06:36 PM
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....”. He said investments could be curtailed and the industry – which was overwhelmingly in favour of remaining – was also facing a multi-million pound bill for planning for the consequences of Brexit. ... [Read full article on Guardian ]
Friday 4th of August 2017 04:01:06 PM
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....Yet a decade earlier, one Monsanto pollution abatement plan in the archive from October 1969, singled out by Sherman, suggests that Monsanto was even then aware of the risks posed by PCB use. In a section on “damage to the ecological system by contamination from PCBs,” it said: “The evidence proving the persistence of these compounds and their universal presence in the environment is beyond questioning. ... [Read full article on Guardian ]
Thursday 10th of August 2017 10:41:04 AM
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.... This investment has rocketed due to a film-style tax credit introduced in 2013 for shows costing at least £1m an episode. The slide in the value of the pound following the EU referendum has added an extra carrot luring foreign film and TV production investment into the UK. ... [Read full article on Guardian ]
Wednesday 26th of July 2017 02:44:53 PM
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.... Its typical loan interest rate is 24. 19% APR, and in April it announced it had loaned its two millionth pound and helped almost 3,000 customers. ... [Read full article on Guardian ]
Saturday 5th of August 2017 05:59:04 AM
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.... One judge called it “a gratuitous glass gargoyle graffitied on to the skyline of London”, while another described it as a “Bond villain tower”. The Walkie Talkie is the latest trophy London building to be bought by investors from China, South Korea, Singapore and Hong Kong, who, despite Brexit, are taking advantage of the low value of the pound to snap up property bargains in the capital. ... [Read full article on Guardian ]
Thursday 27th of July 2017 04:22:56 PM
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....In the meantime, the tour operators have sought to make examples of claimants. Last month, in a landmark case, Thomas Cook opened a private prosecution for alleged fraud against a Liverpudlian couple who pleaded not guilty to falsely claiming thousands of pounds for two holidays to the same resort in consecutive years. ... [Read full article on Guardian ]
Monday 31st of July 2017 05:19:53 PM
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....Once again this month, there is only thin economic gruel in the data. The UK economy is continuing to be impacted by the fall in the pound post-Brexit, which has raised import prices, resulting in a temporary rise in inflation. ... [Read full article on Guardian ]
Monday 24th of July 2017 05:00:27 AM
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.... When I rang again a day or two later I got a different answer to my questions. Scary when we’re talking 10s of thousands of pounds for most people. ... [Read full article on Guardian ]
Saturday 29th of July 2017 06:00:43 AM
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.... Its analysis showed a 6% increase in spending in UK hotels, restaurants and bars. “The leisure sector is likely to have benefited from an early surge in summer staycations, as the weak pound made holidaying at home more attractive,” said Jenkins. ... [Read full article on Guardian ]
Sunday 6th of August 2017 11:01:05 PM
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....”. In recent years Sky has poured billions of pounds into building a wider offering, such as deals with Game of Thrones maker HBO and making increasing numbers of original shows such as Riviera, which has reduced the proportion of sport subscribers from 80% to less than 50% of its 12 million-strong customer base. ... [Read full article on Guardian ]
Friday 11th of August 2017 04:10:07 PM
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....“This unusual event depressed this year’s profit by some £12m but it is expected to recover in 2017/18”. The weak pound makes it more expensive for Britons to take holidays abroad and also hits companies which have to use the pound to buy services and goods in dollars and euros. ... [Read full article on Guardian ]
Sunday 6th of August 2017 12:39:34 PM
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. Britain’s trade position with the rest of the world worsened in June as the sharp fall in the value of the pound since the Brexit vote failed to lift sales of UK-made goods abroad. ... [Read full article on Guardian ]
Thursday 10th of August 2017 03:13:41 PM
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.... Where is the detail? The question is why have they changed for what may be an inferior scheme?” Critics, not surprisingly, suspect cost-cutting is the motive. The foundation is funded by the licences it issues to companies and stands to lose tens of thousands of pounds a year from the withdrawal by Sainsbury’s from tea and far more if it drops other Fairtrade lines. ... [Read full article on Guardian ]
Sunday 13th of August 2017 04:55:37 PM
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....Last month, Jeremy Darroch, the chief executive of Sky, said that the company had “walked away” from bidding for some sports rights recently as there was better value in spending the cash elsewhere in the business. Sky has spent years building its entertainment programming, including long-term deals with Game of Thrones maker HBO and launching Sky Atlantic for top-flight shows, and spending hundreds of millions of pounds annually on original commissions such as glitzy Riviera. ... [Read full article on Guardian ]
Tuesday 8th of August 2017 09:38:39 PM
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....O2 will also give the venues a digital upgrade three years on from introducing free wifi across the 19 venues. The company, which is owned by Spanish telecoms company Telefonica, is expected to be an aggressive bidder in broadcasting regulator Ofcom’s upcoming multi-billion pound auction for mobile spectrum that will enable 5G services in the next decade. ... [Read full article on Guardian ]
Sunday 23rd of July 2017 11:01:20 PM
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....The new variants cater to those who do not like nuts, but are also being launched as nut prices rise in the UK. A combination of the falling value of the pound, strong global demand, particularly in Asia, and a poor crop last year in Chile, one of the world’s major producers, pushed up prices in Britain by about 20% earlier this year, according to Helen Graham, an importer. ... [Read full article on Guardian ]
Tuesday 15th of August 2017 05:45:28 PM
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.... Choo sold his 50% stake in 2001 and Mellon departed in 2011 when JAB Luxury bought the firm for more than £500m. After a somewhat acrimonious departure, Mellon last year unsuccessfully sued her former employer for millions of pounds in damages claiming it had tried to sabotage her new business, a luxury footwear bearing her own name, by allegedly trying to prevent its suppliers from producing her designs. ... [Read full article on Guardian ]
Tuesday 25th of July 2017 08:00:16 AM
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. British holidaymakers should brace themselves for more Brexit pain when they change their pounds into euros, with a leading investment bank forecasting the currencies are on the way to parity. ... [Read full article on Guardian ]
Friday 11th of August 2017 03:18:02 PM
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. British holidaymakers heading to Europe for this weekend’s big getaway are being offered what may be the worst ever foreign exchange rates at British airports – in one case, just 88 euro cents for every pound they hand over. ... [Read full article on Guardian ]
Friday 21st of July 2017 06:31:18 PM
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. Dancing hot dogs were not enough to save Snapchat from another Wall Street pounding on Thursday. ... [Read full article on Guardian ]
Thursday 10th of August 2017 09:38:31 PM
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.... The theory goes: if a chocolate bar gets smaller but the price stays the same, that is a form of inflation because you are paying more for each bite. The issue has regularly made headlines over the last year following the decline in the value of the pound after the Brexit vote. ... [Read full article on Guardian ]
Monday 24th of July 2017 11:30:41 AM
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....In the aftermath of the Brexit referendum in June 2016, the prime London property market was seen as one of the big beneficiaries of the vote to leave. The assumption was that the fall in the value of the pound would make a des res in Mayfair, Belgravia or Chelsea more affordable for foreign buyers. ... [Read full article on Guardian ]
Saturday 12th of August 2017 03:00:48 PM
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Latest Finance News related to Pound

Weaker sterling attracts record number of foreign tourists to UK image
Source : Guardian [Read Article] Friday 18th of August 2017 04:16:40 PM
....2bn. Brexit has led to a slump in the value of the pound against most major currencies – including a 16% drop against the euro and a more than 13% slide against the dollar – making holiday and business trips to the UK more attractive. ...
Global super-rich agreeing to rent luxury London homes without visiting image
Source : Guardian [Read Article] Friday 18th of August 2017 02:39:09 PM
....”. Abrahmsohn, who has sold dozens of multimillion-pound homes on and around The Bishops Avenue in Hampstead to billionaires from across the world, said his agency had secured a series of “mega deal” rentals recently and let properties worth £40,000 a week in aggregate. ...
South Korea's thirst for craft beer helps food and drink exports top £10bn image
....4% to nearly £1. 8bn , partly helped by the fall in the value of the pound. ...
Learndirect blames government cuts for damning Ofsted report image
Source : Guardian [Read Article] Thursday 17th of August 2017 09:24:49 AM
....The Ofsted report, which was finally published on Thursday, said Learndirect’s directors and senior managers had “failed to take swift and decisive action to stem the decline in performance over the past three years”. Oftsed found that the company, which has paid out tens of millions of pounds to its owners and managers since privatisation, “requires improvement” or is “inadequate” in all seven areas of its inspection criteria. ...
UK to seek Irish border waivers on customs and food safety after Brexit image
Source : Guardian [Read Article] Wednesday 16th of August 2017 06:27:16 PM
....When the talks do resume, Britain will ask for an exemption for all small traders and farmers from a host of customs, agricultural and food safety checks. In return, it aims to seek “regulatory equivalence” with the EU to try to avoid the need for inspections of live animals and billions of pounds worth of goods. ...
How you can build up a £100,000 pension pot from NOTHING even in your FORTIES image
Source : Daily Express [Read Article] Wednesday 16th of August 2017 03:02:00 PM
....Britons should ideally start saving in their twenties to build up funds that will support a comfortable retirement. But those who have left it late to start saving can still pull together a nest egg worth tens of thousands of pounds. ...
Broadband deals: Stop overpaying for internet contracts image
Source : Daily Express [Read Article] Wednesday 16th of August 2017 09:20:00 AM
.... . "Reminding customers that their contract is coming to an end can help many save hundreds of pounds. ...
UK pay growth picks up as unemployment rate falls again image
Source : Guardian [Read Article] Wednesday 16th of August 2017 08:36:46 AM
....The increase from 0. 9% a year earlier has largely been the result of dearer import prices caused by the drop in the value of the pound since the Brexit vote. ...
Department for Education pulls all Learndirect contracts and funding image
Source : Guardian [Read Article] Tuesday 15th of August 2017 07:03:32 PM
.... This is just one source of funding into Learndirect Limited”. The company, which has paid out tens of millions of pounds to its owners and managers since privatisation, had sought a court injunction to prevent the publication of a highly critical report by the education regulator Ofsted. ...
Walnut snip: Nestlé cuts nut out of chocolate after prices surge image
Source : Guardian [Read Article] Tuesday 15th of August 2017 05:45:28 PM
....The new variants cater to those who do not like nuts, but are also being launched as nut prices rise in the UK. A combination of the falling value of the pound, strong global demand, particularly in Asia, and a poor crop last year in Chile, one of the world’s major producers, pushed up prices in Britain by about 20% earlier this year, according to Helen Graham, an importer. ...
Pound falls against dollar as inflation comes in lower than expected image
Source : Guardian [Read Article] Tuesday 15th of August 2017 05:10:12 PM
....Sterling fell against the dollar on Tuesday after the CPI rate of inflation remained unchanged in July, reducing pressure on the Bank of England to increase interest rates to curb the rising cost of living. The pound shed more than a cent to reach $1. ...
Holidaymakers urged to buy euros as pound set for PARITY against single currency image
Source : Daily Express [Read Article] Tuesday 15th of August 2017 03:25:00 PM
.... Britain's currency is now expected to soon reach a rate of one to one against the euro. In some exchange bureaus Britons are already getting less than one euro for every pound. ...
ENERGY customer delivered into safe hands after dire billing muddle  image
Source : Daily Express [Read Article] Monday 14th of August 2017 02:39:00 PM
. The confusion surrounding Dorothy Swaine’s contract with British Gas was also compounded by a mix-up over her address. ...
The UK debt tide is rising – how can you avoid drowning? image
Source : Guardian [Read Article] Monday 14th of August 2017 06:00:35 AM
....Avoid the minimum. A regulatory clampdown on the multibillion-pound payday loan sector, including a cap on the total cost of credit, drastically reduced the number of people who had unmanageable debts from the lenders. ...
Fairtrade chief defends cocoa sourcing scheme with Cadbury owner image
Source : Guardian [Read Article] Sunday 13th of August 2017 04:55:37 PM
.... Where is the detail? The question is why have they changed for what may be an inferior scheme?” Critics, not surprisingly, suspect cost-cutting is the motive. The foundation is funded by the licences it issues to companies and stands to lose tens of thousands of pounds a year from the withdrawal by Sainsbury’s from tea and far more if it drops other Fairtrade lines. ...
UK inflation tipped to rise again with wages forecast to stagnate image
Source : Guardian [Read Article] Sunday 13th of August 2017 03:28:41 PM
....5% in July, the same rate as in June. Inflation has remained well above the Bank of England’s 2% target – measured against CPI – after starting to rise last year following the Brexit vote, which triggered a sharp drop in the value of the pound and pushed up the cost of goods imported from abroad. ...
New pension research: Is this really a golden era for retirement? image
Source : Daily Express [Read Article] Sunday 13th of August 2017 10:29:00 AM
.... With final salary pension schemes also on borrowed time, he says the big question is this: “What happens for younger generations?” . Young people now graduate tens of thousands of pounds in debt and have to borrow huge sums to get onto the property ladder, while incomes slide in real terms and the jobs market becomes more unstable. ...
We helped save Europe: now Europe could save us from Brexit image
Source : Guardian [Read Article] Sunday 13th of August 2017 06:00:06 AM
.... Parris accuses the party of being criminally irresponsible in landing Britain with the triggering of article 50 without the vaguest plan, and with Brexit meaning different things to different party members. By contrast, when the question came up during the early years of the post-1997 Blair/Brown Labour government, a quite phenomenal degree of work went into the pros and cons of putting the pound into the single currency. ...
Aw, Snapchat! Its shares stood little chance in the face of Facebook image
Source : Guardian [Read Article] Sunday 13th of August 2017 06:00:06 AM
.... One of the UK’s best-connected individuals – her parents both had leading roles in John Major’s government and her grandfather was Quintin Hogg, better known as Lord Hailsham – had forgotten to disclose that her brother (also Quintin) worked at Barclays. She compounded her error by telling MPs on the Treasury select committee that the Bank knew about her brother’s role, before having to admit that she had not disclosed this and was therefore in breach of the Bank’s code of conduct – which she had helped write. ...
Gloom for Asda as it posts worst results this century image
Source : Guardian [Read Article] Sunday 13th of August 2017 06:00:06 AM
....7m. The big four supermarkets continue to face intense competition from discounters Aldi and Lidl, and are also facing pricing pressures following the recent fall in the value of the pound. ...
Smoking and Drinking tax: How HMRC cashes in on our vices image
Source : Daily Express [Read Article] Sunday 13th of August 2017 12:01:00 AM
. HM Revenue & Customs generates billions of pounds a year from so-called “sin” taxes, charged on those little vices that help get us through the day. ...
Tourist areas need investment in jobs, not just better roads | Letters image
Source : Guardian [Read Article] Saturday 12th of August 2017 11:05:01 PM
.... Perhaps Cornwall’s perversity in delivering a very large pro-Brexit vote was because there are so many middle-class retired incomers who are putting stress on the social and health services . Tourism is supposed to generate billions of pounds, but very little of this “sticks” in Cornwall because much of it goes to the major supermarkets, which employ unskilled people on low pay. ...
Boom or bust: what’s the truth about UK house prices? image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:48 PM
....In the aftermath of the Brexit referendum in June 2016, the prime London property market was seen as one of the big beneficiaries of the vote to leave. The assumption was that the fall in the value of the pound would make a des res in Mayfair, Belgravia or Chelsea more affordable for foreign buyers. ...
A tale of two housing markets: booming Burnley and stagnant Kensington image
Source : Guardian [Read Article] Saturday 12th of August 2017 03:00:48 PM
.... “Effectively, what Brexit has done is it is has thrown a large number of them on to hold, because they simply don’t know where their job is going to be,” he says. When last summer’s referendum sent the pound tumbling against other currencies, some analysts predicted a house price bubble in London, as foreign investors took advantage of the exchange rate to snap up properties. ...
EasyJet 'sent passenger on futile tour of Morocco to recover bag' image
Source : Guardian [Read Article] Saturday 12th of August 2017 06:00:37 AM
.... But just as they were about to arrive in Marrakech, easyJet told her that her case hadn’t been put on that flight either. Despite racking up a bill of hundreds of pounds, easyJet has offered them £125 compensation which doesn’t even cover their phone bills. ...
Sky faces paying extra £1.8bn for Premier League broadcast rights image
Source : Guardian [Read Article] Friday 11th of August 2017 04:10:07 PM
....”. In recent years Sky has poured billions of pounds into building a wider offering, such as deals with Game of Thrones maker HBO and making increasing numbers of original shows such as Riviera, which has reduced the proportion of sport subscribers from 80% to less than 50% of its 12 million-strong customer base. ...
Brexit pain for holidaymakers as pound expected to fall further against euro image
. British holidaymakers should brace themselves for more Brexit pain when they change their pounds into euros, with a leading investment bank forecasting the currencies are on the way to parity. ...
Snapchat takes another hit on Wall Street image
Source : Guardian [Read Article] Thursday 10th of August 2017 09:38:31 PM
. Dancing hot dogs were not enough to save Snapchat from another Wall Street pounding on Thursday. ...
Lego replaces British chief after just eight months at helm image
Source : Guardian [Read Article] Thursday 10th of August 2017 06:51:57 PM
....Lego’s Batman Movie MiniFigures is the bestselling toy so far in 2017, according to NPD analysis. The toymaker announced in December it would raise prices in the UK by 5% in 2017, in response to the sharp drop in the value of the pound since the Brexit vote. ...
Want a cheap holiday? Avoid Spain, says Tui boss image
Source : Guardian [Read Article] Thursday 10th of August 2017 05:41:19 PM
.... But with prices for Spain rising due to high demand, other more affordable destinations could come into play. The higher prices could be a factor in particular for British customers, with the cost of their holidays rising due to the weak pound following the Brexit vote. ...
UK trade deficit widens as fall in sterling fails to improve export sales image
Source : Guardian [Read Article] Thursday 10th of August 2017 03:13:41 PM
. Britain’s trade position with the rest of the world worsened in June as the sharp fall in the value of the pound since the Brexit vote failed to lift sales of UK-made goods abroad. ...
The experts strike back! How economists are being proved right on Brexit | Barry Eichengreen image
....To explain this, observers pointed to the nimble response of the Bank of England, which cut interest rates to prevent any softening of demand. They pointed to the big post-referendum depreciation of the pound, which promised to make British exports more competitive and offset any problems with the transition to a new trade regime. ...
REVEALED: The retirees with the best pensions in Britain - do you make the list?  image
Source : Daily Express [Read Article] Thursday 10th of August 2017 11:50:00 AM
....Retiree wealth has jumped over the last 40 years, and disposable income is now at a record high of £22,000 on average, according to the Office for National Statistics (ONS). But many pensioners have disposable income that is thousands of pounds higher than working households. ...
Monsanto sold banned chemicals for years despite known health risks, archives reveal image
....Yet a decade earlier, one Monsanto pollution abatement plan in the archive from October 1969, singled out by Sherman, suggests that Monsanto was even then aware of the risks posed by PCB use. In a section on “damage to the ecological system by contamination from PCBs,” it said: “The evidence proving the persistence of these compounds and their universal presence in the environment is beyond questioning. ...
Amazon paid just £15m in tax on European revenues of £19.5bn image
Source : Guardian [Read Article] Thursday 10th of August 2017 08:15:53 AM
....”. Amazon Europe, which is based in Luxembourg and aggregates the billions of pounds of sales the retailer makes from individual countries across the continent, reported a pre-tax profit of €59. ...
Worldpay takeover deal: not bad, but could have been better | Nils Pratley image
Source : Guardian [Read Article] Wednesday 9th of August 2017 06:27:04 PM
.... If the deal had been done in early 2016, after the first discussions, Worldpay would have been the bigger partner. Sir Mike Rake, Worldpay’s chairman, has said the post-Brexit plunge in the pound “killed” the plan to be an industry predator. ...
Pay is finally edging up, says Bank of England report image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:39:17 PM
....25% in 2019. The agents reported said that while the cost of retail goods rose further over the summer as increases in import costs caused by the pound’s weakness fed through, feedback from some businesses suggested that inflation was reaching its peak. ...
North Korea’s warmongering with Donald Trump hits global stock market raising pension fear image
.... And US stock indices the Dow Jones and S&P 500 are down for the second day in a row after the North Korean dictator threatened a missile strike on US bases in Guam. Pension funds that holds billions of pounds worth of retirement savings are typically invested in the FTSE 100, meaning savers could see values fall amid sell-offs. ...
US firm Vantiv to buy British rival Worldpay for £9.3bn image
Source : Guardian [Read Article] Wednesday 9th of August 2017 01:55:20 PM
.... “We have had several conversations with senior members of parliament to make sure they understand the strategic rationale,” he said. “We were not ready [to do the deal] last year when the pound was in a different position. ...
‘Draconian’ Stamp Duty will trigger HUGE house price CRASH by stopping elderly downsizing image
....The levy has been dubbed a "tax on moving" and is part of the reason house sales have fallen off a cliff in recent months, according to experts. The prospect of paying thousands of pounds in stamp duty discourages people from moving and has steadily helped drain fluidity from the market. ...
Insurers pressed to release immediate sums to pay for funeral costs image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 08:40:00 AM
....This applies to popular term assurance policies, which pay out if you die within a set period, and whole-of-life cover, which pays when you die as long as you keep up the premiums. These policies may be worth hundreds of thousands of pounds, but can leave families short of a few thousand needed for a funeral. ...
Sky set to retain live Football League rights in £180m-a-year deal image
Source : Guardian [Read Article] Tuesday 8th of August 2017 09:38:39 PM
....Last month, Jeremy Darroch, the chief executive of Sky, said that the company had “walked away” from bidding for some sports rights recently as there was better value in spending the cash elsewhere in the business. Sky has spent years building its entertainment programming, including long-term deals with Game of Thrones maker HBO and launching Sky Atlantic for top-flight shows, and spending hundreds of millions of pounds annually on original commissions such as glitzy Riviera. ...
Paddy Power Betfair blames bad results on bad results image
Source : Guardian [Read Article] Tuesday 8th of August 2017 10:12:14 AM
....The company was the biggest faller on the FTSE 100 on Tuesday, down 5%, after it revealed revenue growth over the first six months had fallen to 9% from 18% in the same period a year earlier. First-half revenue of £827m included a £40m boost from the weakness of the pound since the Brexit vote, which flattered overseas sales. ...
Britons shunning two-week holidays in favour of short breaks image
Source : Guardian [Read Article] Monday 7th of August 2017 12:27:00 PM
....“This could be because many of these visits were booze cruises – journeys across the English Channel to stock up on alcohol and cigarettes – which are no longer as cost-efficient as they used to be,” the ONS said. “Duty-free sales within the EU ended in 1999, France has been ratcheting up the price of cigarettes since 2000, and in recent years the pound has fallen in value against the euro. ...
UK consumers cut spending on clothes, cars and foreign travel image
Source : Guardian [Read Article] Sunday 6th of August 2017 11:01:05 PM
.... Its analysis showed a 6% increase in spending in UK hotels, restaurants and bars. “The leisure sector is likely to have benefited from an early surge in summer staycations, as the weak pound made holidaying at home more attractive,” said Jenkins. ...
Staff at Tesco-owned One Stop demand better redundancy deal image
Source : Guardian [Read Article] Sunday 6th of August 2017 01:10:10 PM
....One source claimed the redundancy programme had not been handled well and that staff felt it was not a “level playing field”. One Stop head office staff had been primed to expect statutory redundancy pay whereas those working directly for Tesco are entitled to an additional payment linked to length of service, potentially worth thousands of pounds. ...
Trailfinders blames Brexit vote for wiping out £12m profit image
Source : Guardian [Read Article] Sunday 6th of August 2017 12:39:34 PM
....“This unusual event depressed this year’s profit by some £12m but it is expected to recover in 2017/18”. The weak pound makes it more expensive for Britons to take holidays abroad and also hits companies which have to use the pound to buy services and goods in dollars and euros. ...
Employment statistics tell skewed story about UK jobs market Katie Allen image
....The problem is that, while employers bemoan skills shortages and have a near-record number of vacancies to fill, average wages are barely growing. Inflation, meanwhile, has picked up as the pound’s weakness since the Brexit vote raises the cost of imports. ...
Downsizing: The disadvantages of moving to a smaller home image
Source : Daily Express [Read Article] Sunday 6th of August 2017 10:41:00 AM
....Almost half of all pensioners would consider moving to a smaller home, new research suggests, and the numbers are expected to grow. There are attractions to downsizing, as you can raise tens of thousands of pounds from selling up, and make everyday life easier by, for instance, swapping a large family home for something smaller and cheaper to run. ...
Two pints of best and an English rosé as wine comes to the beer festival image
....The English and Welsh wine industry is one of the fastest-growing agricultural sectors in the UK – the number of acres planted with vines has grown by 135% in a decade. The rise in popularity has been put down to demand from abroad, the weak pound and the creeping recognition that English wine is not to be sneered at following more investment in the sector. ...
John Malone, the ‘swamp alligator’ chewing up the UK’s media market image
....9% but the expected takeover, which could cost £9bn, has so far failed to emerge. Malone believes ITV is overpriced and is facing uncertainties, such as the impact of the rise of streaming services, while London-listed Liberty Global does not generate any revenues in dollars so hasn’t benefited from the post-Brexit slump in the pound. ...
Goodbye to buy-to-let: why I’m moving on after 13 years as a landlady image
Source : Guardian [Read Article] Saturday 5th of August 2017 05:59:04 AM
.... The uncertainty, instability and general economic dampening effects are, I feel, bound to impact the housing market, even in a place as buoyant as Oxford. We are already seeing a “softening” of property values, according to Nationwide, and loss of consumer confidence as the weak pound reduces buying power. ...
Socially responsible retailers aim to end the ‘rent-to-own’ rip-off image
Source : Guardian [Read Article] Saturday 5th of August 2017 05:59:04 AM
.... Its typical loan interest rate is 24. 19% APR, and in April it announced it had loaned its two millionth pound and helped almost 3,000 customers. ...
UK car industry facing an 'utterly demoralising' Brexit image
Source : Guardian [Read Article] Friday 4th of August 2017 04:01:06 PM
....”. He said investments could be curtailed and the industry – which was overwhelmingly in favour of remaining – was also facing a multi-million pound bill for planning for the consequences of Brexit. ...
Let’s move to Herne Bay, Kent: classic caffs and crazy golf image
Source : Guardian [Read Article] Friday 4th of August 2017 03:30:47 PM
.... All the more surprising with just a few hundred yards on one side dividing it from Whitstable, which seems to sprout a biodynamic toddlerwear emporium every third day, and a few miles on the other keeping Margate and its slam-poetry cafes at bay. Don’t get me wrong: Herne Bay could do with a few pounds being spent in its caffs, but there’s something heartening about a place where the height of entertainment remains a round of crazy golf. ...
Pound PLUNGE: Holidaymakers get LESS than one euro in fresh getaway misery  image
Source : Daily Express [Read Article] Friday 4th of August 2017 01:14:00 PM
. Travellers buying eurozone currency will now get just 90 cents for every pound in some getaway points, as agents rake in excessive margins, research has showed. ...
Britain is still a world-beater at one thing: ripping off its own citizens | Aditya Chakrabortty image
.... Just as the cold nights start drawing in, more than 3 million Britons will find their bills are more expensive. Never mind that the competition watchdog judged last year that British Gas and other energy giants were taking well over a billion pounds a year through “excessive prices”. ...
Swiss bank Julius Bär plans expansion in UK with new offices image
Source : Guardian [Read Article] Thursday 3rd of August 2017 06:28:41 PM
....The UK operation is regulated by the Financial Conduct Authority, while the bank’s new offices will add to existing operations in Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Milan, Monaco, Montevideo, Moscow, Mumbai, Singapore and Tokyo. Other private banks are also said to be targeting the UK, where the pound’s fall could make it more attractive for foreigners to invest. ...
Next shares climb 10% on news of online sales surge during heatwave image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:49:40 PM
.... Less than two years ago they were changing hands at £80. In March, Next had reported its first drop in annual profits in eight years as the sluggish clothing market was compounded by mistakes of its own making. ...
The Bank keeps hinting at a rate rise. Markets will only listen for so long image
.... By encouraging speculation that a rate hike is just around the corner, the Bank is trying to talk up the value of sterling. A stronger pound makes imports cheaper and so bears down on the cost of living. ...
Brexit is putting firms off giving pay rises, says Bank of England image
Source : Guardian [Read Article] Thursday 3rd of August 2017 11:13:47 AM
.... It cut the growth outlook for this year and next, raised its inflation forecast for the months ahead and cut its predictions for wage growth. Presenting the forecasts, the Bank’s governor, Mark Carney, said the pound’s sharp fall after the Brexit vote had raised the cost of imports to the UK and consumers were feeling the pain of higher prices. ...
Do your fellow Brits a favour. Stop going on holiday | Simon Jenkins image
Source : Guardian [Read Article] Thursday 3rd of August 2017 06:00:08 AM
.... It is the crude price the Treasury has exacted from the transport secretary, Chris Grayling, for his gutless refusal to do the sensible thing and put the HS2 vanity project on indefinite hold. Billions of pounds are to be denied to rail services in the north merely to ease the least-crowded commuter line into London – to be followed by a new London Crossrail 2. ...
Executive wages may have fallen, but the case for pay ratios is even stronger image
....Thus government ministers, if they are serious about tackling this issue, should not be tempted for a moment to think the problem has suddenly become smaller. Little can be read into a single year’s decline in chief executives’ average pay because the increases have compounded over decades. ...
The Guardian view on Grenfell and the housing crisis: no more excuses | Editorial image
.... Some of them have been empty for more than two years. London property values have historically risen so fast (despite a slowdown in the past year) that, despite the thousands of pounds that they could earn in rent, the seriously rich do not even bother to let out their surplus homes. ...
Dow soars to record high as it crosses 22,000 mark for the first time image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 02:17:50 PM
.... On Friday, the official non-farm payroll numbers are forecast to show a 180,000 increase, down from June’s figure of 187,000. The dip in the dollar – which benefits US exporters – pushed the pound to an 11-month high of $1. ...
UK economy is about to surge back to life, says leading forecaster image
Source : Guardian [Read Article] Tuesday 1st of August 2017 11:01:30 PM
....Britain’s economy will surge back to life in the next six months following its slow start this year, a leading forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection. The National Institute of Economic and Social Research (NIESR) said a boom in exports after the fall in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to almost 2% and convince the central bank to increase the cost of borrowing. ...
Greggs sees window of opportunity in drive-through shops image
Source : Guardian [Read Article] Tuesday 1st of August 2017 03:27:01 PM
....4% in the 26 weeks to 1 July. The Brexit shock to the pound, as well as spikes in the cost of key ingredients such as butter, put pressure on Greggs’ profit margins in the first six months of the year. ...
British Gas price rise: The cheapest gas and electricity bills to switch and save £300 image
....Stephen Murray, energy expert at MoneySuperMarket, said: “The summer months are a time when many people take their eye off their energy bills and there is a danger that millions of British Gas customers will miss this or shrug their shoulders in passive acceptance. "But they will really feel the impact when the big winter bills start to come through and they are paying hundreds of pounds more than savvy consumers who have moved away from incredibly expensive standard tariffs. ...
Eurozone economy grows twice as fast as UK's, figures show image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:07:04 PM
.... The economy had shown resilience in the immediate aftermath of last year’s EU referendum, confounding forecasts of a downturn. But growth has slowed markedly since the turn of the year as a weaker pound has raised the cost of imports, pushed up inflation and squeezed consumers. ...
Why Brits got the bug for holiday sickness scams image
Source : Guardian [Read Article] Monday 31st of July 2017 05:19:53 PM
....In the meantime, the tour operators have sought to make examples of claimants. Last month, in a landmark case, Thomas Cook opened a private prosecution for alleged fraud against a Liverpudlian couple who pleaded not guilty to falsely claiming thousands of pounds for two holidays to the same resort in consecutive years. ...
Why bitcoin and its digital cousins are under increasing scrutiny image
Source : Guardian [Read Article] Monday 31st of July 2017 03:54:14 PM
....103 of a bitcoin. Last week the Russian national Alexander Vinnik, who allegedly defrauded early adopters of millions of pounds’ worth of bitcoins, including funds obtained from the hack of failed bitcoin exchange Mt Gox, was arrested in Greece. ...
Tax raid on YOUR pensions: Shock as savers overcharged £26million in THREE months image
.... . “It cannot be acceptable to take thousands of pounds per person in excess taxes and then expect people to have to claim that money back. ...
Slow economic growth is not the new normal, it's the old norm | Larry Elliott image
....6% and looks to be close to a peak. There are few signs that workers have been able to use the erosion of their living standards caused by the fall in the value of the pound to negotiate higher pay awards. ...
Lenders must stop stoking demand for loans: or there’ll be another firestorm image
....It was the willingness of consumers to take on extra borrowing that allowed the economy to surf through the first six months after the Brexit vote a year ago. To an extent, this was perfectly rational behaviour: consumers could see that prices were going to rise due to the fall in the value of the pound, so they loaded up on credit so that they could bring forward purchases. ...
Bosses are failing to honour minimum pay laws, warns Britain’s job market tsar image
.... The only way you could get holiday pay back was going to a tribunal. Say you were talking about a couple of hundred pounds – well, no one is going to pay £300 [in fees] to get a couple of hundred pounds back. ...
Saving Britain’s food supply: a manifesto to keep food on the table image
Source : Guardian [Read Article] Saturday 29th of July 2017 08:25:51 PM
.... Added to that is the appalling folly of Brexit, forced through by a cabal of ideologues happy to trot out falsehoods about the sunny uplands of economic joy that leaving the EU would bring. Instead it has resulted in a devaluation of the pound, making imports more expensive and the exporting of our food more attractive. ...
Pension withdrawal shock: Fury as thousands overcharged as HMRC apply wrong tax code  image
....He said: "It is outrageous that in just three months HMRC has over-taxed people by more than £26 million. “It cannot be acceptable to take thousands of pounds per person in excess taxes, and then expect people to have to claim that money back. ...

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