News: Money

Aston Martin makes first first-quarter profit in a decade

Thursday  14:55,   25 may 2017
Reuters

The 104-year old firm, made famous for making the sports car driven by secret agent James Bond, has made an annual loss in each of the last six years. Pre-tax profit reached 5.9 million pounds in the first three months of the year, while revenues[...]

Hong Kong Faces China Collateral Damage on Moody's Downgrade

Thursday  09:15,   25 may 2017
Bloomberg

(Bloomberg) -- Hong Kong saw its debt rating cut by Moody’s Investors Service hours after China’s downgrade, highlighting potential risks from a tightening economic integration. The former British colony has seen not only its property and stock[...]

Standard Life chief confident of Aberdeen Asset Management merger approval

Thursday  09:05,   25 may 2017
Press Association

The chief executive of Standard Life has said he is confident the group's merger with Aberdeen Asset Management will gain shareholder approval, despite governance concerns over the £11 billion tie up. Keith Skeoch told the Press Association that [...]

Exclusive - London's gold benchmark hit by volatility after banks exit

Thursday  08:55,   25 may 2017
Reuters

Lower liquidity - which fuels volatility - led to the benchmark diverging more widely from the underlying spot price , according to the analysis of ICE and trading data, leaving gold buyers and sellers around the world with large unexpected gains or [...]

M&S hit by shake-up cost as profits fall 63%

Thursday  08:45,   25 may 2017
Sky News

Marks & Spencer has reported a 63% plunge in annual profits as costly restructuring took its toll and sales slumped. Pre-tax profits collapsed to £176.4m for the year to 1 April as the retailer was hit by more than £400m in one-off charges[...]

UK delays Euribor trial to 2018

Thursday  08:45,   25 may 2017
Reuters

The UK Serious Fraud Office (SFO), which is prosecuting the case, said on Wednesday that the start of the trial had been postponed from September 4 until January. No further details were immediately available.It will be the SFO's fifth trial of[...]

Moody's Downgrades China Credit Ratings for First Time in 30 Years as Debt Mounts

Thursday  08:45,   25 may 2017
Newsweek

The move reflects "expectation that China's financial strength will erode somewhat over the coming years."The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, comes as the Chinese government[...]

BlueBay Turns Short Pound as `All Roads' Point to Hard Brexit

Thursday  08:25,   25 may 2017
Bloomberg

The pound is heading lower whatever the outcome of the U.K.’s elections, according to BlueBay Asset Management. While the currency has rallied since the election was called, BlueBay began selling sterling last week, betting that the U.K. is set for[...]

One man dug himself out of $70,000 worth of debt to become a millionaire at 35

Wednesday  14:12,   24 may 2017
CNBC

Scott Alan Turner was a "money moron" who changed his ways.After graduating from college in 1994, Turner made a series of financial missteps: He got his first credit card and started charging. He bought a brand new Jeep — and later a[...]

More people 'may miss out on tax breaks due to rise in older cohabiting couples'

Wednesday  13:21,   24 may 2017
Press Association

A "dramatic" increase in the number of older cohabiting couples could lead to more people missing out on valuable tax breaks and state pension rights, analysis by an insurer suggests. define("homepageFinanceIndices", ["c.deferred"],[...]

Conservatism buries Ronald Reagan and Margaret Thatcher

Wednesday  12:06,   24 may 2017
The Financial Times

It was a love affair — platonic, but a love affair, all the same. As a former US diplomat put it, President Ronald Reagan and Margaret Thatcher were “political and philosophical soul mates”. The connection between Reagan and Thatcher secured the[...]

Biometric banking most popular in UK

Wednesday  08:41,   24 may 2017
The Financial Times

From finger vein scanning to iris recognition and selfies, banks around the world are pushing ahead with biometric security in an attempt to improve customer service and mitigate the risk of data and money theft. define("homepageFinanceIndices",[...]

Nationwide warns on economy as profits fall

Wednesday  06:05,   24 may 2017
Sky News

Nationwide, Britain's biggest building society, has reported an 18% fall in annual profits and warned of a squeeze on consumers and slowing house price growth as the economy stutters. The mutual blamed the fall in pre-tax profits to £1.05bn on[...]

EU sets out Brexit mandate for chief negotiator Barnier

Wednesday  05:50,   24 may 2017
dw.com

EU ministers are preparing to give the bloc’s lead negotiator for Brexit his mandate for the negotiations. French former diplomat Michel Barnier is not expected to begin talks until after the UK general election in June. Ministers for the European[...]

Turkey star Tufan released after arrest in car probe

Wednesday  05:20,   24 may 2017
AFP

Istanbul police on Tuesday detained Turkish international and Fenerbahce midfielder Ozan Tufan in a probe into the illegal import of luxury cars, releasing the football star after questioning. Prosecutors in the Istanbul district of Bakirkoy issued[...]