Market Insights
Pound Pummelled After Flash Crash Trade
The pound has been pummelled in the currency markets with traders blaming concerns over Brexit and a flash crash that hit the market in Asian trading. In the early hours of Friday morning, the pound fell 6% to $1.1841 - the biggest move since the Brexit vote. Analysts think a news report could have triggered automated trading systems to sell the
Easyjet Warns Of £90m Currency Hit
Easyjet has warned that the weakened pound will cost it £90m in its current financial year. That is more than double its original estimate made in July, when it warned of a £40m hit. Jet fuel is priced in dollars, so the falling pound has made it more expensive for Easyjet to run its aircraft. Easyjet expects a profit of between $490m
Hammond Warns Of "Brexit Rollercoaster"
Chancellor Philip Hammond has said he will prioritise spending on new homes and transport rather than following his predecessor George Osborne's aim to balance the books by 2020. He told the Conservative conference the deficit was still too large and would need to be tackled "in due course". But he said the Brexit vote may cause "turbulence" and
RBS To Pay $1.1bn Over Mis-Selling Claims
Royal Bank of Scotland is to pay $1.1bn (£846m) to settle two claims it mis-sold toxic mortgage securities in the run-up to the financial crisis. State-backed RBS sold the securities to two credit unions, which failed after the US housing bubble burst in 2008. The settlement is with the National Credit Union Administration Board (NCUA),
Workless Homes Show North-South Divide
Figures on the concentration of workless households in the UK suggest that the North-South divide may be getting even more stark. The data - from the Office for National Statistics (ONS) - analysed homes where no adult is in work. The 10 places with the highest number of such homes are all north of a line from the Severn to the Wash. By contrast,
Small Business Confidence Slumps
More small and medium-sized businesses are pessimistic about the future than positive for the first time in four years, according to an industry body. Small business' concerns are growing that the domestic economy will weaken. The first survey by the Federation of Small Businesses (FSB) since the Brexit vote suggests the second largest fall in
Company Views On Tattoos "Out Of Date"
Employers have been warned they could be missing out on top staff because they are rejecting candidates with tattoos. The conciliation service Acas said negative attitudes about visible tattoos are outdated. Employers could be drastically reducing the pool of potential recruits because so many young people now have tattoos, Acas said. It said
Financial Scams "Every 15 Seconds"
A financial scam was committed once every 15 seconds in the first half of the year, prompting a new campaign to highlight the risks. More than one million cases of card, cheque, phone or online fraud were recorded from January to June, Financial Fraud Action (FFA) said. That was a 53% rise on the same period last year. The FFA, which is funded by
UK 'Appallingly Bad' At Start-Up Funding
Investors need to take a long-term view when backing new tech start-ups in the UK according to leading fund manager Neil Woodford, speaking as part of the BBC's Tech Talent coverage. He says small companies are not receiving the funding required to grow. "We have been appallingly bad at giving those minnows the long-term capital they need," said
Hinkley Point: UK Approves Nuclear Plant Deal
The government has given the go ahead for a new £18bn nuclear power station in the UK after imposing "significant new safeguards" for future projects. The new plant at Hinkley Point in Somerset is being financed by the French and the Chinese. In exchange, China wanted to use its design for new UK nuclear stations. However, the government
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