Topic filter : Transaction

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.... . In addition to the cost savings, the transaction had the "potential for $1bn in growth synergies", Dow said in a statement. ... [Read full article on BBC ]
Monday 27th of March 2017 12:10:59 PM
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.... . The DoJ said: "Thereafter, fraudulent phishing emails were sent to employees and agents of the victim companies, which regularly conducted multimillion-dollar transactions with [the Asian] company. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 01:39:49 PM
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....". Another technology beginning to have a significant impact on innovation in financial services is blockchain, a secure digital ledger that records and verifies transactions without the need for a central database. ... [Read full article on BBC ]
Monday 27th of March 2017 11:28:16 PM
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....The supermarket said in a statement that it believed the deal would improve its recovery plans. "We have been working on the transaction for over 12 months and believe the strategic and financial rationale is compelling," a spokesperson said. ... [Read full article on BBC ]
Monday 27th of March 2017 06:47:15 PM
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....Hundreds of jobs will be lost following a decision to close almost 160 RBS and NatWest branches. RBS blamed a "dramatic shift" in banking, with branch transactions falling 43% since 2010. ... [Read full article on BBC ]
Thursday 23rd of March 2017 04:03:12 PM
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....Kenya's banking system is fuelled by mobile payments. The main provider of mobile transactions, M-Pesa - which is Swahili for money - has about 20 million users, and there are more than 100 times as many M-Pesa kiosks as there are cash machines in Kenya. ... [Read full article on BBC ]
Thursday 23rd of March 2017 12:39:55 PM
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....He said: “We have seen a dramatic shift in the way our customers are choosing to bank, with more using mobile and online over traditional branch counters. Simple transactions undertaken in branch at NatWest and Royal Bank of Scotland have fallen by 43% since 2010, while online and mobile transactions have increased by more than 400%. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 06:05:29 PM
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....13%, after it announced it would close nearly 160 branches. RBS blamed a "dramatic shift" in banking, with branch transactions falling 43% since 2010. ... [Read full article on BBC ]
Thursday 23rd of March 2017 09:31:43 AM
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.... We have had a wide series of meetings over the last two months and are pleased with the overall response. “We have been working on the transaction for over 12 months and believe the strategic and financial rationale is compelling. ... [Read full article on Guardian ]
Monday 27th of March 2017 06:04:28 PM
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...."As customers change the way they bank with us, we must change the way we serve them. "The role of the branch is fast moving to a centre for advice, away from basic transactions. ... [Read full article on Daily Express ]
Thursday 23rd of March 2017 02:35:00 PM
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Latest Finance News related to Transaction

Bye-bye bank charges? image
Source : BBC [Read Article] Monday 27th of March 2017 11:28:16 PM
....". Another technology beginning to have a significant impact on innovation in financial services is blockchain, a secure digital ledger that records and verifies transactions without the need for a central database. ...
Tesco warned over cost of £3.7bn Booker takeover image
Source : BBC [Read Article] Monday 27th of March 2017 06:47:15 PM
....The supermarket said in a statement that it believed the deal would improve its recovery plans. "We have been working on the transaction for over 12 months and believe the strategic and financial rationale is compelling," a spokesperson said. ...
Two Tesco shareholders oppose £3.7bn takeover of wholesaler Booker image
Source : Guardian [Read Article] Monday 27th of March 2017 06:04:28 PM
.... We have had a wide series of meetings over the last two months and are pleased with the overall response. “We have been working on the transaction for over 12 months and believe the strategic and financial rationale is compelling. ...
Dow and Dupont merger gets EU go-ahead image
Source : BBC [Read Article] Monday 27th of March 2017 12:10:59 PM
.... . In addition to the cost savings, the transaction had the "potential for $1bn in growth synergies", Dow said in a statement. ...
RBS and NatWest to close 158 branches as customers go digital image
Source : Guardian [Read Article] Thursday 23rd of March 2017 06:05:29 PM
....He said: “We have seen a dramatic shift in the way our customers are choosing to bank, with more using mobile and online over traditional branch counters. Simple transactions undertaken in branch at NatWest and Royal Bank of Scotland have fallen by 43% since 2010, while online and mobile transactions have increased by more than 400%. ...
RBS and NatWest to shed 158 branches and more than 400 jobs image
Source : BBC [Read Article] Thursday 23rd of March 2017 04:03:12 PM
....Hundreds of jobs will be lost following a decision to close almost 160 RBS and NatWest branches. RBS blamed a "dramatic shift" in banking, with branch transactions falling 43% since 2010. ...
RBS and NatWest to close 158 branches and cut 470 jobs: Is your local bank shutting? image
...."As customers change the way they bank with us, we must change the way we serve them. "The role of the branch is fast moving to a centre for advice, away from basic transactions. ...
Kenya starts selling bonds via mobile phones image
Source : BBC [Read Article] Thursday 23rd of March 2017 12:39:55 PM
....Kenya's banking system is fuelled by mobile payments. The main provider of mobile transactions, M-Pesa - which is Swahili for money - has about 20 million users, and there are more than 100 times as many M-Pesa kiosks as there are cash machines in Kenya. ...
Next shares leads FTSE 100 higher image
Source : BBC [Read Article] Thursday 23rd of March 2017 09:31:43 AM
....13%, after it announced it would close nearly 160 branches. RBS blamed a "dramatic shift" in banking, with branch transactions falling 43% since 2010. ...
Everton urged to end StubHub ticket partnership by supporters trust image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:57:44 PM
....Ticket prices on StubHub are set at the seller’s discretion, not the club’s, with a limit of £250 for matches at Goodison. Tickets can also be cheaper on StubHub – there are £12 and £15 tickets available for Everton’s next home game against Leicester City, say – and the club argue it helps maintain security inside the ground as they have details of the people involved in transactions. ...
Two major US technology firms 'tricked out of $100m' image
Source : BBC [Read Article] Wednesday 22nd of March 2017 01:39:49 PM
.... . The DoJ said: "Thereafter, fraudulent phishing emails were sent to employees and agents of the victim companies, which regularly conducted multimillion-dollar transactions with [the Asian] company. ...
Bank that lent $300m to Trump linked to Russian money laundering scam image
Source : Guardian [Read Article] Tuesday 21st of March 2017 07:00:14 PM
.... It said it put a high value on compliance. It said that suspicious transactions picked up during routine monitoring were reported to the authorities. ...
The woman taking on ticket website Viagogo image
Source : BBC [Read Article] Tuesday 21st of March 2017 05:40:43 PM
....". The first transaction failed - but Ms Turnham says Viagogo then processed the transaction a different way and she was charged the full amount. ...
Fake data threat image
Source : BBC [Read Article] Tuesday 21st of March 2017 12:11:20 AM
.... So if you undermine the authenticity of that data - and our trust in it - you can potentially bring an economy to its knees, experts warn. Businesses are vulnerable to this type of cyber sabotage because they inherently trust the data and documents they produce, says Abe Smith of Dealflo, a company that helps financial firms automate transactions. ...
British banks handled vast sums of laundered Russian money image
Source : Guardian [Read Article] Monday 20th of March 2017 06:00:24 PM
.... OCCRP shared the data with the Guardian and media partners in 32 countries. The documents include details of about 70,000 banking transactions, including 1,920 that went through UK banks and 373 via US banks. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
....3bn buying 51,150 student rooms in the UK last year, according to research by Savills. Analysts expect a similar number of transactions this year but say the UK market is already starting to look “mature” and investors are now looking further afield to build upmarket student accommodation across Europe. ...
Rupert Murdoch's Sky bid to be investigated by UK regulator image
Source : Guardian [Read Article] Thursday 16th of March 2017 11:35:05 AM
....Fox has also pledged to keep Fox News at arm’s length and “continue to broadcast news under the Sky brand maintaining its excellent record of compliance with the Ofcom broadcasting code”. “We are confident that a thorough review of our track record over 30 years will underscore our commitment to upholding high broadcast standards, and will demonstrate that the transaction will not result in there being insufficient plurality in the UK,” said a spokeswoman for Fox. ...
UK average annual rents fall for first time in six years image
Source : Guardian [Read Article] Monday 13th of March 2017 06:00:24 AM
.... It said London had been the most challenging market. “Every borough [of London] has seen a reduction in transactions for the three months to the end of January, compared to a year before, and London has seen the largest drop in transactions in the country, down 22%,” LSL said. ...
Gamblers 'lost more than £10,000' on fixed-odds betting terminals image
Source : Guardian [Read Article] Sunday 12th of March 2017 03:49:55 PM
....7bn in revenues from FOBTs last year, are meant to intervene if they are concerned about a customer’s losses or the source of their funds. “Social responsibility requirements mean all operators must interact with customers where they believe they could be at risk of problem gambling, but also where any transactions could be linked to crime,” said the industry regulator, the Gambling Commission, which has signalled a tougher stance against firms that fail to prevent problem gambling. ...
Can .art domain give the art business an online boost? image
Source : Guardian [Read Article] Sunday 12th of March 2017 08:00:19 AM
.... Others who have signed up but not switched include the Walker Art Center in Minneapolis and DIA Art Foundation. Attempts to commercialise art online have had mixed results, but with the internet changing virtually every kind of transaction, its effect on art is likely to increase – despite a lingering resistance to purchasing art on the internet. ...
‘Think of it as an utterly invaluable learning experience’ – our work expert responds image
....Before you close your business down, however, do check that you’ve done all you can to make it a possible proposition for someone to buy – at least in part. However minor, such a transaction would help your bank balance a little and your morale rather more. ...
'This is grossly unfair': self-employed readers react to NICs increase image
Source : Guardian [Read Article] Thursday 9th of March 2017 02:21:03 PM
....I don’t think that self-employment is good for society, it just temporarily postpones the problem with pensions and social care by almost getting people out of the system. So if you support that kind of work as a government, the stance should be to give us sick leave and maternity leave paid by the state and an increase in taxation, but mostly by corporation tax or a financial transaction tax. ...
Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff image
....And the magic doesn’t stop there. Although it might surprise people who are used to thinking of imports and exports as a pure “us vs them” phenomenon, in fact roughly half of all trade is intra-firm – transactions between foreign and US divisions of the same company. ...
21st Century Fox rejects Sky takeover bid concerns image
Source : BBC [Read Article] Thursday 9th of March 2017 12:59:32 AM
.... . "21st Century Fox is confident that the transaction will be approved based on an objective assessment of the facts," said Jeffrey Palker, executive vice president at the firm. ...
ARM chip designer stake 'to be sold by Softbank' image
Source : BBC [Read Article] Wednesday 8th of March 2017 11:25:24 AM
....The Cambridge-based firm designs microchips used in most smartphones, including Apple's and Samsung's, and is considered the most precious jewel in the crown of British technology. The stake sale coming so soon after Softbank's purchase could raise concerns over its commitments to the UK, but the FT said that Downing Street had been notified of the transaction and did not raise any concerns. ...
Foxtons sees property sales plunge as Brexit vote hits image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:06:35 AM
.... . "Last year's London property market was severely impacted by an unprecedented sequence of events with changes to stamp duty and the EU referendum vote leading to a substantial reduction in property sales transactions, especially in central London," said chief executive Nic Budden. ...
Standard Life's Aberdeen deal means job losses – but avoids US takeover image
.... Personal friendship is helpful but ripping costs out of a company worth £11bn is not like spending a pleasant afternoon together on the river Tay. “A single CEO calling the shots and retaining overall responsibility is critical in all such transactions,” says Shore Capital’s Eamonn Flanagan. ...
Standard Life and Aberdeen seek to tie in key staff in £11bn merger image
Source : Guardian [Read Article] Monday 6th of March 2017 08:06:34 AM
....“We have grave concerns over the structure of the board,” said Eamonn Flanagan, an analyst at Shore Capital. “To us, a single CEO calling the shots and retaining overall responsibility is critical in all such transactions … we wait to see how the chemistry between Skeoch and Gilbert develops. ...
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....At this point red flags should have been raised in London. Under money-laundering regulations, banks are required to raise Suspicious Activity Reports (SARs) for highly unusual transactions, especially involving what are called “politically exposed persons” such as Etete. ...
Sky takeover: Minister 'minded' to examine Fox takeover image
Source : BBC [Read Article] Friday 3rd of March 2017 12:54:43 PM
....A decision to intervene would not block the deal, but trigger an Ofcom assessment as well as a Competition and Markets Authority report to be considered by Ms Bradley. 21st Century Fox said it was confident the deal would be approved: "We anticipate regulators will undertake a thorough review of the transaction and we look forward to engaging with them. ...
UK culture secretary 'minded to' refer Sky takeover to Ofcom image
Source : Guardian [Read Article] Friday 3rd of March 2017 12:17:29 PM
....Murdoch’s son James, now chief executive of Fox and chairman of Sky, has already said he does not believe any “meaningful concessions” will need to be made to authorities this time round. “As we have previously indicated, we anticipate regulators will undertake a thorough review of the transaction, and we look forward to engaging with them as appropriate,” said a spokeswoman for Fox. ...
LSE chief says he'll stay as EU looks set to block Deutsche Börse merger image
.... He said he was very positive about the outlook for the exchange. “In the event that this transaction did not successfully conclude then we are back to square one and I am back in the seat and working hard with my colleagues to ensure the business continues to thrive, which it has despite the demands of such a complex transaction,” said Rolet. ...
Bitcoin value tops gold for first time image
Source : BBC [Read Article] Friday 3rd of March 2017 01:16:15 AM
.... Yet like all currencies its value is determined by how much people are willing to exchange it for. To process Bitcoin transactions, a procedure called "mining" must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution. ...
Nick Candy accused of being secret partner in brother's property group image
Source : Guardian [Read Article] Thursday 2nd of March 2017 02:48:12 PM
....2bn in 2011 after finalising the development of One Hyde Park, a block of super-luxury apartments. Stewart produced a number of emails which he suggested were examples of Nick Candy acting to promote CPC business interests and one which appeared to show a company director seeking Nick’s sign-off on a financial transaction. ...
Property tycoon denies threatening business partner’s pregnant wife image
Source : Guardian [Read Article] Wednesday 1st of March 2017 08:09:33 PM
....Candy, with his brother Nick sitting nearby, took the stand in a packed courtroom in London on Wednesday. In a written witness statement, he described himself as a “hard negotiator when I need to be”, but denied that he would resort to threats or illegal acts in order to complete a transaction. ...
UK’s housing market is broken, and only a radical solution can fix it | Peter Hetherington image
.... Why, for instance, when around 270,000 homes are annually given planning permission, are only half that number being built? Why is so much tied up in opaque agreements between owners and developers? Is an artificial scarcity of land distorting the housing market and limiting building? Two years ago an independent commission, chaired by former BBC chairman Sir Michael Lyons for the former Labour leader Ed Miliband, spoke of six firms of land agents alone holding strategic land banks of 23,000 acres and warned that owners were holding onto land, sometimes with planning permission, in the hope that it would rise in value. Ministers, implicitly critical of the building industry, have floated the idea of giving powers to the Land Registry, which logs house transactions and – ostensibly – ownership of land, to try to uncover the scale of the problem. ...
City watchdog sounds alarm bells over hard Brexit image
Source : Guardian [Read Article] Monday 27th of February 2017 03:06:00 PM
....“When the financial watchdog are themselves saying they will not be able to properly protect consumers following a hard Brexit, the government needs to sit up and take notice. “If the watchdog cannot watch financial transactions properly, we are leaving both peoples’ finances and markets vulnerable to abuse. ...
Housebuilder Persimmon's profits rise amid 'confident' market image
Source : BBC [Read Article] Monday 27th of February 2017 08:32:01 AM
....Laith Khalaf, senior analyst at Hargreaves Lansdown, said: "The Brexit-shaped dent in Persimmon's share price has now been almost entirely repaired by brisk trading and resilient performance from the UK economy. "The UK's housebuilders have had the wind at their back for some time now, with the government Help to Buy scheme boosting transaction numbers, while a chronic housing shortage has pushed prices up too. ...
Barclays apologises for cash machine and debit card faults image
Source : BBC [Read Article] Saturday 25th of February 2017 04:31:38 PM
....Several Barclays customers contacted the BBC to say they were experiencing problems. In a tweet at 16:09, the bank said: "We're still experiencing issues affecting Barclays Debit Card and ATM transactions. ...
First Trust to close half its Northern Ireland branches image
Source : BBC [Read Article] Thursday 23rd of February 2017 08:36:10 AM
....Just five years ago First Trust had more than 40 branches - when this latest cull is complete it will have just 15. Closing branches is part of a trend across the banking industry as customers do more of their transactions online. ...
UK house price growth at slowest rate in four years image
Source : Guardian [Read Article] Monday 20th of February 2017 07:01:30 AM
....”. Rightmove said the housing market was boosted in early 2016 by “frenzied” buy-to-let investors who rushed to complete transactions before new stamp duty rules were introduced in April, making this year look subdued by comparison. ...
Kraft Heinz withdraws Unilever takeover bid image
Source : Guardian [Read Article] Sunday 19th of February 2017 05:28:53 PM
....A spokesperson for Kraft Heinz said: “[Our] interest was made public at an extremely early stage. Our intention was to proceed on a friendly basis, but it was made clear Unilever did not wish to pursue a transaction. ...
Another Brexit downside: foreign giants in power grabs for famous British names image
....Although the sheer size of Unilever will limit the premium, the Anglo-Dutch company clearly feels this price does not reflect the risks involved in the deal. Kraft Heinz is reportedly keen to use Unilever’s strong credit rating to raise debt for the transaction – its own credit rating is close to junk – and part of the deal would involve Unilever investors getting shares in the enlarged company, so its future success would matter. ...
Small shops recoil in the face of business rates that will more than double image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
.... The tax bill will keep rising until it hits £11,427 for the 2021-22 financial year: five times as high. Hart calculates that Chapmans will need to increase its sales by £50,000 a year to cover the increase, but its average transaction is between just £3 and £3. ...
It’s all talk at Santander as voice recognition banking begins image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
....Santander customers can make payments to friends by simply asking their iPhone to do it for them after the Spanish bank became the first provider to launch voice activated payments in the UK. The bank’s smartphone app also allows customers to see their recent transactions and report a lost card, just by talking to their phone. ...
TalkTalk scam victims say it’s time for answers image
Source : Guardian [Read Article] Saturday 18th of February 2017 06:59:33 AM
.... Intriguingly, Westwood had opened a Santander account just a week earlier but had not made any withdrawals so was unsure how it worked. He told Money how he was duped into handing over a One Time Passcode which authorised the transaction. ...
Vauxhall's future in UK is secure, says business secretary image
Source : Guardian [Read Article] Thursday 16th of February 2017 03:35:55 PM
.... Such discussions are ongoing. “While there can be no assurance of any agreement, any possible transaction would enable PSA Groupe and Opel Vauxhall to leverage their complementary strengths, enhancing their competitive positions for the future in a rapidly changing European market. ...
Deutsche Bank examined Trump's account for Russia links image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:31:00 PM
....After Trump’s victory in the US election in November the bank “double-checked” its records, the source said. The bank has also fielded numerous media inquiries about recent Trump loans, which were viewed as unorthodox among some bankers familiar with the transactions. ...
Heineken may not refresh the pubs other beers could reach, landlords fear image
Source : Guardian [Read Article] Thursday 16th of February 2017 09:23:59 AM
....The Dutch company said the CMA’s announcement was an “important and fully expected stage” in the acquisition process and that the company would fully cooperate with the watchdog. Punch said it “continues to expect the transaction to complete as anticipated”. ...
General Motors looks to sell loss-making Vauxhall and Opel image
Source : Guardian [Read Article] Tuesday 14th of February 2017 01:42:44 PM
....”. In a letter to staff, GM offered few details but said it would “seek to ensure any transaction would serve the best interests of all our respective important stakeholders”. ...
Diamond rings sparkle for the internet dating generation image
Source : Guardian [Read Article] Monday 13th of February 2017 01:39:04 PM
....”. Kormind first set up the diamond sales site in 2005 while working for Marketing 77, a firm that helped luxury brands including Estee Lauder and Anya Hindmarch set up transactional websites. ...
Does UK’s lucrative arms trade come at the cost of political repression? image
Source : Guardian [Read Article] Sunday 12th of February 2017 06:00:37 AM
.... In a submission to parliament, Amnesty International suggests that the UK leaving the EU “will lead to a flurry of new trade and investment agreements that will chart a path for decades to come”. The campaign group said it hoped that “transactions and projects that may contribute to human rights violations” will not be promoted. ...
Surge in smartphone shopping expected over next four years image
Source : Daily Express [Read Article] Friday 10th of February 2017 12:00:00 AM
....The report said retailers are experiencing a "fundamental change" in shopper behaviours and demand. Around 80 per cent of web retail will involve research, transactions and price comparisons through a smartphone by 2020. ...
Fingerprint payments prompt privacy fears in India image
Source : Guardian [Read Article] Thursday 9th of February 2017 05:00:13 AM
....But now this pool of more than a billion people’s biometric data is being used by banks, credit checking firms and other private companies to identify customers, raising questions about privacy and security. As one of his flagship policies, prime minister Narendra Modi pledged to create a “digital India” in which the country’s cash-centric economy would switch to credit and debit cards, squeezing the parallel economy of untaxed cash transactions and giving more citizens access to digital financial services. ...
Nationwide blocked my cards when I tried to buy European train tickets image
Source : Guardian [Read Article] Wednesday 8th of February 2017 07:00:00 AM
.... A month ago, I tried to book rail tickets on the Austrian Railways website. The transaction failed and Nationwide blocked my debit card. ...
New homes warranty firm pays millions to leading homebuilders image
Source : Guardian [Read Article] Sunday 5th of February 2017 05:26:47 PM
....“Last year we paid £90m in respect of claims in addition to providing assistance to homeowners through our resolution service, which mediates between homeowners and their builder and last year found in favour of homeowners in 70% of cases. “As is standard practice, we do not discuss our commercial transactions or our underwriting terms. ...
Rolls-Royce faces civil service inquiry over UK state funding image
Source : Guardian [Read Article] Sunday 5th of February 2017 03:29:06 PM
....The SFO is still deciding whether to prosecute individuals over the corruption. A UKEF official said:“While UKEF is not a law enforcement agency and has no statutory investigatory powers, we rigorously follow Organisation for Economic Cooperation and Development standards and take all possible precautions to avoid supporting transactions that may be tainted by corruption. ...
Are you a serious buyer? Estate agents can now ask you to pay up to prove it image
.... as we feel our time is being wasted unnecessarily”. Money has seen a copy of a document relating to the couple’s £900 payment which states that in return, the agent would liaise with the parties and their solicitors “in an effort to get the transaction completed expeditiously”. ...
Deutsche Börse chief probed over €4.5m share deals ahead of LSE merger talks image
....3tn (£1. 1tn) of euro clearing transactions every year, but this has been put at risk by the UK vote to leave the EU. ...
Brexit has allowed the banks to get off Britain's naughty step image
Source : Guardian [Read Article] Sunday 29th of January 2017 04:00:28 PM
.... But it is a sign of how the banks have won a long PR war that even those who were once their sternest critics are now looking out for their interests. The end of banker bashing is frustrating for those who have been campaigning for a financial transactions tax, an idea first floated by the US economist James Tobin in the early 1970s but which only started to look like a realistic proposition since the crash. ...
Brad Stone: ‘We should watch Uber and Airbnb closely’ image
Source : Guardian [Read Article] Sunday 29th of January 2017 08:00:18 AM
.... The real estate market has also remained fairly impervious to disruption, as well as (to everyone’s consternation) the airline industry. Perhaps an industry’s immunity is related to the size of each individual transaction. ...
What the dip in sterling means for your holiday image
Source : Daily Express [Read Article] Sunday 29th of January 2017 12:01:00 AM
Link ATMs: 8,000 in UK could start charging for withdrawals image
Source : Guardian [Read Article] Friday 27th of January 2017 06:01:18 AM
.... There are calls for this interchange fee to be reduced – although at Thursday’s meeting no decision was taken. The ATMIA’s calculations are based on the impact of a cut to the interchange fee, which is calculated by dividing the cost of running the free-to-use network by the number of transactions. ...
UK's super rich appear to get special deal from HMRC, says watchdog image
Source : Guardian [Read Article] Friday 27th of January 2017 12:01:11 AM
....MPs questioned the role of the specialist unit and some of its practices. “We were not convinced by [HMRC’s] assertion that there is a clear line between giving its view on potential transactions and giving tax advice and we do not think there is enough clarity about what customer relationship managers can and cannot do,” the report says. ...
Mark Carney: internet-only lenders pose risk to UK financial system image
Source : Guardian [Read Article] Wednesday 25th of January 2017 06:24:20 PM
....Speaking at a conference in Germany, Carney said digital money held out the prospect of allowing millions of people excluded from the mainstream banking system to access loans securely. Threadneedle Street has several initiatives under way to allow peer-to-peer online lenders access to central bank funds and facilitate transactions. ...
BT shareholders will remember profit warning for years | Nils Pratley image
Source : Guardian [Read Article] Tuesday 24th of January 2017 05:47:06 PM
.... That behaviour has now been upgraded to “improper” – which amounts to an allegation of fraud – and the bill will definitely be felt. The adjustments will be £530m, of which £500m will be in cash as working capital transactions are unwound. ...
Link ATMs: last-ditch bid to keep cash machines free image
Source : Guardian [Read Article] Tuesday 24th of January 2017 05:06:55 PM
.... This is currently about £900m a year. At present, the fee is calculated by dividing the cost of running the free-to-use network by the number of transactions. ...
BT loses almost £8bn in value as Italy accounting scandal deepens image
Source : Guardian [Read Article] Tuesday 24th of January 2017 11:20:33 AM
....”. The inquiry found “improper accounting practices and a complex set of improper sales, purchase, factoring and leasing transactions”, which meant earnings in the Italian business had been overstated for a number of years. ...
Lloyds bank accounts targeted in huge cybercrime attack image
Source : Guardian [Read Article] Monday 23rd of January 2017 12:20:26 PM
....Several other major British banks have been hit by service outages over the past two years when their systems were flooded with fake requests. In January last year, HSBC’s internet banking facility was made unavailable following a DOS attack, but no transactions were affected. ...
‘Barclays took my £440,000 and put me through hell’ image
Source : Guardian [Read Article] Sunday 22nd of January 2017 07:00:23 AM
.... Under the EU Fourth Anti-Money Laundering Directive 2015, banks are obliged to vet accounts for possible money-laundering on behalf of terror or crime cartels. The result is they have been dumping accounts with links to certain countries or that show unexpected transactions. ...
Formula One pulled a fast one on the US taxman – and it's all perfectly legal image
.... It would be logical to assume that the company will therefore have a turbocharged tax bill to pay, but not according to Liberty. “We have managed to do the transaction in a way that will permit an efficient repatriation of money back to the US without incremental tax for many, many years,” said Liberty’s chief corporate development officer, Albert Rosenthaler, in a call with analysts. ...
Is the FTSE heading for the crash of 2017? image
Source : Guardian [Read Article] Saturday 21st of January 2017 07:00:28 AM
.... Rather than crashing by 20%, the market jumped by 24%. If a client with £100,000 had followed RBS’s advice, pouring all their money into quality corporate bonds, it would today be worth around £106,000 – and probably much less after paying transaction costs. ...
Link cash machines may start charging because of row about network fees image
Source : Guardian [Read Article] Wednesday 18th of January 2017 01:10:13 PM
....About 40,000 of these are provided by independent suppliers to the network, the rest by banks and building societies. More than 97% of transactions through Link machines do not levy a charge for customers withdrawals. ...
Debenhams fails to deliver Christmas flowers and ignores my complaint image
Source : Guardian [Read Article] Tuesday 17th of January 2017 07:00:32 AM
.... Debenhams says it will contact me but so far hasn’t. As I used PayPal for the transaction, I raised an action with it for non-delivery and received a refund within 24 hours. ...
If the City vs Brussels is like a game of Jenga, it’s possible both sides could lose image
....What should Theresa May, when she speaks on Tuesday about her plans for the UK’s exit from the European Union – say about the City and financial services? As an opening pitch, she should take her cue from the governor of the Bank of England and remind the EU 27 that the UK – if only in this single commercial field – holds a strong negotiating hand. Mark Carney first made his point about the UK being “the investment banker for Europe” in November and last week’s reiteration put hard facts on the table for a second time: “If you rely on a jurisdiction [ie the UK] for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions you should think very carefully about the transition from where you are today to where the new equilibrium will be. ...
‘I thought I’d bought my first home, but I lost £67,000 in a conveyancing scam’ image
....Intriguingly, on or around 4 October, the day the crime was uncovered, the Sethi Partnership introduced a warning in bold text at the bottom of its emails pointing out the “significant risk posed by cyber fraud, specifically affecting email accounts and bank account details. Please note that this firm’s bank account details will not change during the course of a transaction and we will not change our bank account details via email … We will not accept responsibility if you transfer money into an incorrect bank account. ...
EU negotiator wants 'special' deal over access to City post-Brexit image
Source : Guardian [Read Article] Friday 13th of January 2017 07:15:54 PM
....Carney said other EU nations relied heavily on the City for their financial needs and could face serious problems if international banks based in London were no longer able to gain easy access to European countries and corporations. “If you rely on a jurisdiction [the UK] for three-quarters of your hedging activities, three-quarters of your foreign exchange activity, half your lending and half your securities transactions, you should think very carefully about the transition from where you are today to where the new equilibrium will be,” he said. ...

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