Topic filter : Transaction

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.... Jobs have certainly been destroyed. Banks, for example, no longer employ clerks to log every transaction in ledgers with quill pens. ... [Read full article on Guardian ]
Sunday 20th of August 2017 10:22:40 AM
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....New figures show spending on credit, debit and charge cards is growing at the fastest rate since 2008, rising more than five times faster than earnings in a fresh sign of ballooning borrowing by consumers. The number of card transactions increased by 12. ... [Read full article on Guardian ]
Monday 21st of August 2017 05:09:55 PM
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....The site has now been sold to two Chinese developers, R&F Properties and C C Land Holdings. Because the deal was done offshore it did not require approval from Chinese regulators, a source involved with the transaction told Reuters. ... [Read full article on Guardian ]
Tuesday 22nd of August 2017 08:38:07 AM
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....The Dubai company allegedly sold the exact same equipment back to Adani Group-controlled businesses in India at massively inflated prices, in some instances said to be eight times the sale price. According to the allegations in the file, the effect of these transactions was that Adani Group spent an average 400% more for the materials. ... [Read full article on Guardian ]
Sunday 20th of August 2017 02:28:19 AM
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.... The money has to be used to buy a home up to the value of £250,000 outside London, or up to £450,000 in the capital. Savers can only access the bonus by instructing a solicitor or conveyancer during the house-buying process, with the bonus added to the mortgage and funds used to pay for a property transaction. ... [Read full article on Guardian ]
Saturday 19th of August 2017 06:00:06 AM
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Latest Finance News related to Transaction

China's Dalian Wanda drops purchase of Nine Elms Square in London image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 08:38:07 AM
....The site has now been sold to two Chinese developers, R&F Properties and C C Land Holdings. Because the deal was done offshore it did not require approval from Chinese regulators, a source involved with the transaction told Reuters. ...
UK credit and debit card spending ​growing​ at fastest rate since 2008 image
....New figures show spending on credit, debit and charge cards is growing at the fastest rate since 2008, rising more than five times faster than earnings in a fresh sign of ballooning borrowing by consumers. The number of card transactions increased by 12. ...
Robots will not lead to fewer jobs – but the hollowing out of the middle class | Larry Elliott image
.... Jobs have certainly been destroyed. Banks, for example, no longer employ clerks to log every transaction in ledgers with quill pens. ...
Indian opposition calls for investigation into Adani over financial fraud allegations image
....The Dubai company allegedly sold the exact same equipment back to Adani Group-controlled businesses in India at massively inflated prices, in some instances said to be eight times the sale price. According to the allegations in the file, the effect of these transactions was that Adani Group spent an average 400% more for the materials. ...
Here’s help to decide which of two Isas is the best to buy into image
Source : Guardian [Read Article] Saturday 19th of August 2017 06:00:06 AM
.... The money has to be used to buy a home up to the value of £250,000 outside London, or up to £450,000 in the capital. Savers can only access the bonus by instructing a solicitor or conveyancer during the house-buying process, with the bonus added to the mortgage and funds used to pay for a property transaction. ...
Adani $900m rail line loan should be ruled out after fraud allegations, opponents say image
....“It is a standard procedure for the group to follow international competitive bidding route for major capital expenditures to ensure transparency and competitiveness in the process,” it said. “All our transactions are always conducted within the framework of extant regulatory guidelines and provisions. ...
Could Stamp Duty actually be AXED? Calls to BAN hated tax grow as housing crisis worsens  image
. The levy on purchases is adding to the burden on first time buyers and making it harder for older homeowners to downsize, reducing transaction levels to an all-time low. ...
Sainsbury's Nisa takeover talks paused after competition concerns image
Source : Guardian [Read Article] Monday 14th of August 2017 04:31:08 PM
....Members, more than 70% of whom must be in favour for any deal to go ahead, have expressed disquiet over the potential Sainsbury’s deal which they believe would diminish their independence and control over their supply chain. One industry source said: “It could be that Sainsbury’s has read the runes that the membership is not happy about that transaction. ...
Trump trade investigation will 'poison' relations with China, media warns image
....In an editorial, the official China Daily said it was critical the Trump administration did not make a rash decision it would regret. “Given Trump’s transactional approach to foreign affairs, it is impossible to look at the matter without taking into account his increasing disappointment at what he deems as China’s failure to bring into line [North] Korea,” the English-language paper said. ...
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
.... Revealing those figures last week, Russell Galley, managing director at Halifax Community Bank, said sluggish wage growth and rising inflation were weighing on house prices. “This squeeze on spending power, together with the impact on property transactions of the stamp duty changes in 2016 now being realised, along with affordability concerns, appear to have contributed to weaker housing demand,” he said. ...
Contactless transactions take UK debit and credit card use to record high image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:36:58 PM
. A record number of payments took place by credit and debit cards in June, fuelled by the continued popularity of contactless transactions. ...
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
....”. When the takeover talks were first announced last month, Sir Vince Cable, leader of the Liberal Democrats and former business secretary, said the transaction represented “cheap pickings”. ...
Why are Britain’s banks blaming customers for online banking fraud? | Miles Brignall image
....The other big failure is the banks’ inability to spot these frauds, which are perpetrated through accounts they manage. Staff who can spot a fake credit card transaction in seconds do nothing if £20,000 is paid into an account that may have been dormant for years. ...
Total UK wealth tops £10tn thanks to City and property boom image
Source : Guardian [Read Article] Monday 7th of August 2017 11:01:22 PM
.... However, this improvement in the jobs market has not, as yet, boosted wage growth, resulting in earnings rising at a slower rate than consumer prices,” he said. “This squeeze on spending power, together with the impact on property transactions of the stamp duty changes in 2016 now being realised, along with affordability concerns, appear to have contributed to weaker housing demand. ...
Payment in gold bullion banned under new law to combat tax evasion image
Source : Guardian [Read Article] Monday 7th of August 2017 05:33:52 PM
....The ruling means HM Revenue and Customs (HMRC) will be able to take action against both companies and employees seeking to take advantage of the “artificial and abusive” gold bullion schemes. HMRC said accountants had created schemes designed to “disguise remuneration to individuals through paying them via a series of transactions buying and selling an asset, commonly gold bullion”. ...
House prices fall for FOURTH quarter in a row but here’s why homeowners shouldn't panic  image
.... "However, this improvement in the jobs market has not, as yet, boosted wage growth, resulting in earnings rising at a slower rate than consumer prices. "This squeeze on spending power, together with the impact on property transactions of the stamp duty changes in 2016 now being realised, along with affordability concerns, appear to have contributed to weaker housing demand. ...
UK house price rises slow to four-year low, says Halifax image
Source : Guardian [Read Article] Monday 7th of August 2017 09:54:34 AM
.... “However, this improvement in the jobs market has not, as yet, boosted wage growth, resulting in earnings rising at a slower rate than consumer prices,” Galley added. “This squeeze on spending power, together with the impact on property transactions of the stamp duty changes in 2016 now being realised, along with affordability concerns, appear to have contributed to weaker housing demand. ...
Only a big-spending budget can save us from years of low interest rates image
Source : Guardian [Read Article] Saturday 5th of August 2017 04:00:16 PM
....The National Institute of Economic & Social Research said the only therapy would be a rise in interest rates and quickly. Jagjit Chadha, the organisation’s director, warned that without higher rates the interbank lending system that lubricates the billions of transactions in financial markets and which seized up in the credit crunch would remain sclerotic and economic growth would stay anaemic. ...
Leaseholds are not the problem – abuse of them is | Editorial image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:53:08 PM
.... It’s worth thinking why they were invented and have endured for centuries. They are a highly effective way of allocating capital, risk and reward in the use of land and buildings; they are still much used in commercial property transactions for that purpose. ...
WannaCry: hackers withdraw £108,000 of bitcoin ransom image
Source : Guardian [Read Article] Thursday 3rd of August 2017 01:27:16 PM
.... Part of the ransomware program gave the addresses of the digital wallets to victims and therefore law enforcement, which has been tracking them ever since. While bitcoin is considered a pseudonymous currency that cannot be tracked in the same way as traditional currencies, monitoring its movement is possible due to the way transactions are written into a distributed ledger called the blockchain. ...
How to get bitcoin cash? Find out how to get your hands on BCH tokens image
Source : Daily Express [Read Article] Wednesday 2nd of August 2017 04:03:00 PM
....Bitcoin cash (BCH) is a splinter currency which branched off from the original bitcoin blockchain in a hard fork yesterday (Tuesday August 1). The new token bitcoin cash was created by a group of miners who ‘forked’ bitcoin in a bid to increase transaction capacity. ...
House prices stabilise as number of homes on the market falls image
Source : Guardian [Read Article] Tuesday 1st of August 2017 12:13:12 PM
....9%. The resilience of house prices has surprised economists as they contrast with falling transactions – at their lowest level for eight months – and the number of mortgages approved, which have also fallen to a nine-month low. ...
Why bitcoin and its digital cousins are under increasing scrutiny image
Source : Guardian [Read Article] Monday 31st of July 2017 03:54:14 PM
....While some people are now being paid in bitcoin, others buy them from exchanges or directly via websites like eBay, from people who have “mined” the coins. Bitcoin was invented in 2009 when an anonymous software developer issued the first of a limited number of coins based on the novel concept of a digital ledger or blockchain in which transactions made are recorded chronologically and publicly. ...
Libor interest rate to be phased out after string of scandals image
Source : Guardian [Read Article] Thursday 27th of July 2017 04:47:23 PM
....” He said work must “begin in earnest” on shifting to an alternative benchmark. To illustrate the problems faced, he said one of the interest rates being set was based on submissions from a panel of banks which only conducted 15 relevant transactions in the whole of 2016. ...
Foxtons blames economic uncertainty as profits plunge by 64% image
Source : Guardian [Read Article] Thursday 27th of July 2017 09:25:24 AM
....Sales revenue crashed 29% to £22. 2m in the period, with Foxtons saying the performance was set against a surge in the first quarter last year, when transactions were brought forward ahead of the stamp duty surcharge on buy-to-let investments and second homes. ...
Housing market still reeling a decade after financial crisis, Savills says image
.... By contrast, Wales, Yorkshire and Humberside, and the north-west have only just achieved positive price growth 10 years post-credit crunch, while values in the north-east are typically down 9%, according to the firm’s analysis of data from the Land Registry and other sources. The report also identifies a “dramatic slump” in spending and transactions. ...
Virtual reality hit when I tried to cash in my bitcoins image
Source : Guardian [Read Article] Wednesday 26th of July 2017 06:00:33 AM
....Another buyer then offered £6,700 for the rest of my coins. As I attempted to verify this transaction, there was an issue with my online bank account and I headed to an HSBC branch to get things sorted. ...
Ground rents: aristocrats and shell firms among those making millions image
Source : Guardian [Read Article] Wednesday 26th of July 2017 05:00:32 AM
....Astor runs the fund manager Long Harbour, which invests in residential freeholds, and is also director of HomeGround, which administers freeholds on behalf of various landlords, including the Adriatic Land vehicles. The website for the Long Harbour ground rent fund boasts: “Since closing our first transaction in 2010, Long Harbour has acquired over 160,000 residential units comprising approximately £1. ...
Number of firms issuing profit warnings falls - but there may be worse to come image
....The most warnings issued during the quarter came from retailers, citing the impact of higher inflation on consumer spending. Jessica Clayton, the head of retail transaction advisory services at EY, says: “A high number of general retailers’ warnings is a red flag for the rest of the economy. ...
While Hammond looks for a magic money tree, Labour has found one | Larry Elliott image
.... If Hammond is to find money for higher public spending without increasing borrowing, he will either have to ditch government plans to reduce personal and corporate taxes or find new sources of revenue. One option would be for the government to embrace the idea of a financial transaction tax, AKA the Robin Hood tax. ...
Private equity houses offer £3bn for payments processor Paysafe image
Source : Guardian [Read Article] Friday 21st of July 2017 01:46:49 PM
....The offer for Paysafe, a constituent of the FTSE 250 index, comes just weeks after a £7. 7bn offer for Worldpay helped to illustrate the consolidation taking place among companies that process online transactions. ...
Is this the Brexit banking exodus Theresa May told us couldn’t happen? | Nesrine Malik image
.... Even if Brexit goes smoothly from a regulatory standpoint, which is wishful thinking, certain financial institutions that cater to Europe would need to move onshore, since conducting business would be more expensive otherwise. In some cases, it is mandatory from a compliance perspective that transactions are onshore. ...
Exxon fined $2m for violating Russia sanctions while Rex Tillerson was CEO image
.... The state department declined to comment on Tillerson’s role, referring all questions to Exxon. Treasury’s office of foreign assets control (Ofac) said Exxon caused “significant harm” to the sanctions program by engaging in transactions with a person who is “an official of the government of the Russian Federation contributing to the crisis in Ukraine”. ...
Culture secretary keeps Rupert Murdoch waiting over Sky deal image
Source : Guardian [Read Article] Thursday 20th of July 2017 11:26:27 AM
.... “We respect the importance of regulatory scrutiny, and we continue in our commitment to work constructively with authorities, as we have done since this process began. In light of the transaction’s benefits to the UK creative economy, we would urge the secretary of state to complete the regulatory process expeditiously. ...
Deutsche Bank expects subpoenas over Trump-Russia investigation image
Source : Guardian [Read Article] Wednesday 19th of July 2017 11:26:20 PM
....US media outlets have reported that Mueller’s investigation into possible Russian collusion with the Trump campaign will include a close examination of the president’s finances and businesses. While Deutsche Bank did engage in banking transactions with Russian banks as late as 2005, including some loan activity, a person familiar with the matter said the activity was not related to Trump’s accounts or his family. ...
End of the 'rip-off': all charges for paying by card to be banned image
Source : Guardian [Read Article] Tuesday 18th of July 2017 11:01:04 PM
.... It said this per ticket charge was levied to cover costs. Hungryhouse, a website and app that let people order takeaway meals, said most restaurants imposed a card fee that was typically 50p to 75p per transaction. ...
UK house prices rise nearly 5% despite political turmoil image
Source : Guardian [Read Article] Tuesday 18th of July 2017 01:05:46 PM
....The number of homes sold in the UK slumped 41% year-on-year in March, largely because the March 2016 figure was boosted by buyers rushing to complete before stamp duty changes the following month, the ONS said. In London, transactions fell even further, by 57% (and 62% in inner London). ...
UK growth will slow as consumer spending is squeezed, forecasts PwC image
Source : Guardian [Read Article] Tuesday 18th of July 2017 05:01:11 AM
....7% in the fourth quarter meant expansion was stronger in the second half of the year than in the first half. But the consultancy firm said the economy had slowed markedly in the first half of 2017 and pointed to a sharp reduction in housing transactions as evidence of the blow to purchasing power caused by the decline in the value of the pound since the referendum. ...
What Brexit slowdown? UK housing market shrugs off concerns as property prices creep up image
....”. Rightmove’s monthly survey is calculated on asking prices rather than completed transactions, and comes at a time of year when the property market is generally much quieter, with the focus being on holiday bookings instead of property purchasing. ...
UK housing market shrugs off concerns of Brexit slowdown image
Source : Guardian [Read Article] Sunday 16th of July 2017 11:01:34 PM
....”. The monthly survey, which is calculated on asking prices rather than completed transactions, comes at a time of year when the property market is typically quiet, as buyers and sellers take a break from the spring selling season and households concentrate more on holidays than house buying. ...
Aramco may be big, but fawning to Saudis diminishes London image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:00:14 AM
.... The state-controlled companies won’t have to give outside shareholders a vote on the appointment of directors who will represent their interests on the board. And worse, the likes of Aramco will be able to ignore rules on related-party transactions that other “premium” companies must obey. ...
Could you spot a bogus Airbnb listing among the genuine ones? image
Source : Guardian [Read Article] Saturday 15th of July 2017 06:00:45 AM
....But it was only when he asked for the house number that the real warning signs arrived. The would-be landlords claimed to be unable to tell him that, due to the terms and conditions of holiday site TripAdvisor, but assured him that if he started his tenancy by making a booking through that site, “TripAdvisor is guaranteeing the whole transaction between us”, even linking to the real site’s payment protection guarantee. ...
Is your money safe? Banks letting payments through WITHOUT your Pin or signature image
. Even if the wrong number is repeatedly entered, some customers have reported that they were still able to complete their transaction - sometimes without the requirement of their signature. ...
Ofcom made serious errors over Murdoch Sky bid, say high-profile MPs image
Source : Guardian [Read Article] Friday 14th of July 2017 03:31:40 PM
....”. Fox said in statement: “The criticism of the independent regulator and repeated efforts to politicise the quasi-judicial process are deeply disappointing and surprising, particularly in light of Sir Vince’s public comments following the recent UK election expressing ‘complete confidence’ in Ofcom’s review of our transaction. ...
Cash no longer king as contactless payments soar in UK stores image
Source : Guardian [Read Article] Wednesday 12th of July 2017 05:01:15 AM
....In its latest annual payments survey, the BRC said debit, credit and charge cards had “firmly established their place as the dominant payment method in retail”, and were “increasingly displacing cash for lower-value payments”. For years, cards have accounted for the majority of retail spending by value, but 2016 was the first year they also accounted for more than 50% of all transactions. ...
Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley image
....The shame is that Pearson’s sale of a 22% stake in PRH has been secured on terms that look respectable, at least in circumstances where there was only one possible buyer – German media group Bertelsmann, which owns 53% to Pearson’s current 47%. Pearson will collect $1bn (£778m) in cash, via a combination of the sale of the stake and a dividend, in a transaction that values PRH at about seven times its top-line earnings. ...
House price pick-up allays fears of property market crash image
Source : Daily Express [Read Article] Sunday 9th of July 2017 03:37:00 PM
....”. He said the housing market slowed in the run-up to the election on June 8, as often happens, and there are now signs that pent-up demand is returning to market, boosting transaction levels: “Activity is rising as those who decided to ‘wait and see’ jump off the fence and take action. ...
Homebuyers desperate to know who really owns their freehold image
Source : Guardian [Read Article] Saturday 8th of July 2017 06:00:00 AM
.... The cost of the work they carry out compares very favourably with any fees charged by any firm of solicitors, even those outside of London. It is easily forgotten that these are often variations to leases and are property transactions. ...
France steps up effort to woo London banks planning Brexit move image
Source : Guardian [Read Article] Friday 7th of July 2017 02:05:15 PM
....The proposals including the abolition of the highest bracket of a payroll tax levied on each salaried employee and the cancellation of plans to increase France’s 0. 3% tax on financial transactions. ...
Primark's sales soar as shoppers snap up low-cost summer fashions image
Source : Guardian [Read Article] Thursday 6th of July 2017 04:21:37 PM
.... “Primark looks to have had a stellar third quarter,” he said. “This is partly due to a soft comparative, but also very strong footfall and transactions leading to record market share gains. ...
Alibaba reveals Echo-like smart speaker image
Source : BBC [Read Article] Wednesday 5th of July 2017 04:05:12 PM
...."But one thing we need to remember is it's early days for this category, and there remain questions of consumer trust in using the digital assistants to buy goods, on a smartphone or smart home speaker device. "By that, I mean both the security of the transaction and privacy concerns about how personal data is leveraged and shared. ...
Vauxhall takeover by PSA given go-ahead image
Source : BBC [Read Article] Wednesday 5th of July 2017 03:53:20 PM
....European Commission said it had "unconditionally approved" Peugeot's move to buy the European division of General Motors (GM). It said it had concluded that "the transaction would raise no competition concerns in the relevant markets". ...
Worldpay buyout by Vantiv reignites debate over foreign takeovers image
Source : Guardian [Read Article] Wednesday 5th of July 2017 03:04:35 PM
.... Over the weekend, Nets, the Danish payments services company, said it had been approached by potential suitors. The rise of contactless cards has further accelerated the trend, becoming a popular payment method for lower-value transactions that were traditionally dominated by cash. ...
WARNING: Don’t get burnt for cash on your holiday image
Source : Daily Express [Read Article] Wednesday 5th of July 2017 11:21:00 AM
....Plastic Meltdown. Millions of Britons got caught out by foreign transaction charges when using their debit and credit cards abroad last year, costing on average £48. ...
Worldpay shares soar further on takeover approaches image
Source : BBC [Read Article] Tuesday 4th of July 2017 02:31:39 PM
....However, the company warned "there can be no certainty either that an offer will be made nor as to the terms of any offer, if made". Worldpay processes millions of mobile, online and in-store transactions daily. ...
£8bn battle looms for credit card processor Worldpay as rivals circle image
.... At this level, the group is valued at more than £8bn. The takeover battle for Worldpay underlines the boom in the electronic payments industry, as more people shift from cash to paying online and in store card transactions switch from chip and pin to contactless. ...
Sainsbury's sales sizzle as shoppers snap up paddling pools image
Source : Guardian [Read Article] Tuesday 4th of July 2017 06:53:35 AM
....All the supermarkets have been lifted by a combination of a warm start to the summer and rising inflation. Sainsbury’s said the number of transactions carried out in its stores rose by 2%. ...
Mortgage-seekers ignoring extra fees, says Moneyfacts image
Source : BBC [Read Article] Monday 3rd of July 2017 12:33:38 PM
....". Figures from HM Revenue and Customs (HMRC) show that, on a seasonally-adjusted basis, property transactions have generally been close to the 100,000 mark each month for the past three years. ...
The Crusader: Mystery debits add to EXECUTOR's burden image
Source : Daily Express [Read Article] Monday 3rd of July 2017 12:01:00 AM
....Santander called Bev and confirmed the account closure had been processed in line with the probate and bereavement process. It added: “Direct Debits were set up electronically by the sending bank and therefore Santander did not receive a mandate instruction for the transaction. ...
Flying high image
Source : BBC [Read Article] Sunday 2nd of July 2017 11:09:01 PM
.... . "When I heard 'fax' I was thinking [that] this sounds like a stock market transaction in the eighties", he laughs. ...
Can you buy anything real with Bitcoin? On the streets of Bristol, it proves a hard sell image
....” Oh dear. There are four places in Bristol that accept Bitcoin as payment for a real-world transaction. ...
Biggest holiday rip-offs REVEALED: Watch-out for THESE money stings image
Source : Daily Express [Read Article] Saturday 1st of July 2017 12:14:00 PM
.... Those who pay for bills used their card, should also opt to pay in the local currency to avoid paying extra exchange fees. Millions of people have been hit with bills of almost £50 each in non-sterling transaction charges when paying on plastic, according to the Post Office. ...
Ron Dennis to cut ties with McLaren board in £275m deal image
Source : Guardian [Read Article] Friday 30th of June 2017 03:53:40 PM
....Ron Dennis has severed ties with McLaren, stepping down from the board of the motor sport and technology companies he built up over 37 years. The former chairman and chief executive of the British Formula One carmaker will sell his shareholdings in a transaction valued at about £275m. ...
George Osborne came within weeks of scrapping the penny image
Source : Guardian [Read Article] Friday 30th of June 2017 06:47:41 AM
....And the Guardian can reveal that it was not the only controversial idea the pair considered when they were at the helm of government. In a separate move, the Downing Street policy unit submitted a proposal to lay down an ambition to end all cash transactions by 2020, as a way to drive up productivity and disrupt some forms of criminal activity. ...
Bitcoin accepted at New York pre-school image
Source : BBC [Read Article] Thursday 29th of June 2017 11:50:53 PM
.... . "If we talk about just the sort of transactional ease. ...
Ofcom has concerns about Murdoch power in UK if Sky bid allowed image
Source : Guardian [Read Article] Thursday 29th of June 2017 06:55:06 PM
....The regulator concluded that Rupert Murdoch and his son James would have too much influence over the British media. “The proposed transaction would give the Murdoch family trust material influence over news providers with a significant presence on television, radio, printed newspapers and online,” said Ofcom in its most important report on the proposed Sky takeover. ...
Walgreens Boots Alliance scraps plans to buy Rite Aid image
Source : BBC [Read Article] Thursday 29th of June 2017 03:11:33 PM
....However, it faced resistance from competition regulators as it would have seen a tie-up of the first and third largest US pharmacy chains. "We believe this new transaction addresses competitive concerns previously raised with respect to the prior transaction," said Walgreens chief executive Stefano Pessina in a statement. ...
Labour MPs warn ministers against ‘grubby deal with Murdochs’ over Sky image
.... Ofcom’s report shows that if the deal goes ahead Murdoch businesses would have the third largest total reach of any news provider – lower only than the BBC and ITN – and would uniquely operate across television, radio, newspapers and online. “Ofcom’s report states that the proposed transaction would give the Murdoch family trust material influence over news providers with a significant presence across all key platforms,” she said. ...
BT Italy scandal prompts auditing probe image
Source : BBC [Read Article] Thursday 29th of June 2017 07:47:51 AM
....On the other side, PwC could argue that their auditors might have been misled and could point to BT filing a criminal complaint in Italy against former BT employees. BT found evidence of improper accounting practices and "a complex set of improper sales, purchase, factoring and leasing transactions". ...
FCA knows its scrutiny of the investment sector has only just started | Nils Pratley image
....A push for greater transparency – the big theme in the report – is welcome. The FCA supports the disclosure of all-in fees, including transaction charges. ...
Co-op Bank secures £700m rescue deal from hedge funds image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:18:25 AM
....Holt defended the funds, saying they were long-term investors and insisted customers did not ask questions about the identity of the owners of the bank. The transaction has also required an agreement with the trustees of the Co-operative Group and Bank pension fund, which will now be split and with the bank putting in £100m over 10 years. ...
Consumer confidence collapsed after general election, YouGov finds image
Source : Guardian [Read Article] Monday 26th of June 2017 11:05:13 PM
....“It is also possible that the labour market will increasingly falter despite its current resilience. Additionally, housing market activity is likely to be hampered by soft consumer confidence and reduced willingness to engage in major transactions,” he added. ...
I sent money to a friend using Barclays’ Pingit app, but it never arrived image
.... I also tried online chat and went into a branch. There I was told I could pay £20 to order a “trace” on the transaction. ...
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
....These include the Halifax Clarity credit card. It applies MasterCard’s exchange rate at the time you make the transaction. ...
London could lose out as ECB seeks control of euro clearing after Brexit image
....The move by the Frankfurt-based ECB – the central bank for the 19 countries using the euro – follows a report by the European commission that called for the EU to have more powers over clearing of financial products denominated in euros after Brexit. The City dominates the market in clearing, a process which is supposed to reduce the risks in complex financial transactions by matching buyers and sellers as well as reducing the cost of trading, through the use of clearing houses. ...
House Democrats challenge Deutsche Bank over review of Trump's accounts image
Source : Guardian [Read Article] Thursday 22nd of June 2017 05:38:41 PM
....The monitor, who has not yet been named, is due to begin its review of Deutsche’s activities in early July. The monitor – who will happen to be reviewing the period around the US election last year – was put in place as part of a $41m settlement with the US Federal Reserve announced at the end of May after the Fed found that the bank’s US operation did not have strong enough systems to detect suspicious transactions from the period of 2011 to 2015. ...

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