More than 530 US companies and 100 investors beg President-elect Donald Trump and Congress to stick with low-carbon agenda

Tuesday 10 January 2017 3:03 pm More than 530 US companies and 100 investors beg President-elect Donald Trump and Congress to stick with low-carbon agenda Share Cost-effective and innovative solutions can help us achieve these objectives. Failure to build a low-carbon economy puts American prosperity at risk. But the right action now will create jobs and boost U.S. competitiveness. Francesca Washtell Adidas Group, Kellogg Company, Monsanto, Ben & Jerry’s, eBay, Mondelez International, Virgin, Tiffany & Co and Levi Strauss have also signed up to the pledge, signed under the “Business Backs Low-Carbon USA” banner.Read more: Boris Johnson heads to New York for talks with the Trump teamInvestors who have signed the letter collectively manage more than $2 trillion (£820bn) and include the New York State Common Retirement Fund, the California State Teachers Retirement System and Trillium Asset Management.”We want the US economy to be energy efficient and powered by low-carbon energy,” the statement reads. More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.com More than 530 US companies and 100 investors have signed an open letter to President-elect Donald Trump demanding that the US reaffirms its commitment to a low-carbon economy and the Paris Climate Agreement.Corporate signatories of the letter, which is also addressed to President Obama, members of Congress and global leaders, span Fortune 500 stalwarts including Gap, Ikea North America, L’Oreal, Hilton, Hewlett Packard, Nike, Starbucks and Unilever, to small family-owned businesses.  He is set to be inaugurated as the 45th president of the US on 20 January. “All parts of society have a role to play in tackling climate change, but policy and business leadership is crucial,” said Lars Petersson, president of Ikea US. “The Paris Agreement was a bold step towards a cleaner, brighter future, and must be protected. Ikea will continue to work together with other businesses and policymakers to build a low-carbon economy, because we know that together, we can build a better future.” Read more: Trump’s America could be a danger to the planet’s climateAlthough it is unclear exactly what President-elect Trump’s energy policy will be, early comments indicate he will pursue an aggressive, carbon-focused agenda. Trump has said he will scrap Nasa’s climate research centre to crackdown on “politicised” climate change (which he has also deemed a “hoax”).His advisers have said they want access to coal, gas and other resources under 56m acres of Native American reservations (which are currently federally owned) and he has also surrounded himself with oil industry tycoons, including his appointment of ExxonMobil’s chief executive Rex Tillerson as secretary of state – America’s top diplomatic role. Read more: Bill Gates wants to fight climate change with $1bn cleantech fund whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastFactableTragic Reason She Was Drugged For ‘Wizard Of Oz’FactableMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity Week whatsapp read more

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Revealed: David Cameron’s new jobs

whatsapp whatsapp Cameron said: “It was an immense privilege to lead the Conservative party for more than a decade and the country for over six years as prime minister.“I am looking forward to having the opportunity to explain the decisions I took and why I took them. I will be frank about what worked and what didn’t.”Read more: Theresa May’s ditching Cameron’s “big society” for the “shared society”5. Could he be the next Nato secretary general?Cameron is being considered for the role of Nato’s next secretary general, according to reports published in late December.If Cameron accepts the role, he will replace current secretary general Jens Stoltenberg (former Norwegian PM) when his tenure ends in 2018 or 2019. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoguldom NationFather Of 2 Sues Los Angeles Hospital After Wife Dies During ChildbirthMoguldom NationUndo So David Cameron just got a new job this morning. This made us wonder just what life after No 10 is like for the former British Prime Minister who resigned following the shock outcome of last year’s EU referendum.Take a look at the new jobs David Cameron is doing now: Cameron spoke for over an hour about the impact leaving the European Union will have on Britain.3. National Citizens Service chairmanNot all roles he’s doing are paid. In October, the ex-Tory leader took up an unpaid chairman role at the National Citizens Service.Writing in The Daily Telegraph, Cameron said: “When I look back over six years as Prime Minister, one of my proudest achievements is the creation of National Citizen Service.“I often get stopped in the street by parents who tell me what a difference NCS has made in the lives of their children; and I regularly receive letters from young people who have so enjoyed taking part. Wednesday 25 January 2017 12:24 pm Revealed: David Cameron’s new jobs More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Shruti Tripathi “From the pilot projects that I began as leader of the opposition to the full-scale programme that we have today, more than 275,000 people have taken part in what has become the fastest-growing youth movement of its kind in the world.”Read more: Another former aide to David Cameron has joined the ranks of lobbyists4. Autobiography dealWe all know how Lord Ashcroft’s unauthorised biography, Call Me Dave, went down. However, Cameron has signed a deal with Harper Collins to give a “frank” account of his tenure as Prime Minister.The book will draw on over 50 hours-worth of audio tapes recorded with Times columnist Daniel Finkelstein during Cameron’s time in power. 1. President of the Alzheimer’s Research UKCameron was appointed the president of the dementia research charity this morning. The appointment isn’t out of the blue – at a G7 legacy event in London in 2014, Cameron launched Alzheimer’s Research UK’s five-year £100m Defeat Dementia fundraising campaign.“Tackling dementia was a major focus while I was Prime Minister, and although improvements in attention and research innovation have been rapid, it remains one of our greatest health challenges,” Cameron said today.2. Speech, Speech!The former PM was reportedly paid £120,000, or £2,000 a minute, for a speech to Wall Street big dogs in November last year. Share read more

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Airlines braced for flight disruption next week as strike action by French air traffic controllers looms

whatsapp Rebecca Smith Friday 3 March 2017 2:35 pm whatsapp Airlines are braced for flight disruption next week as French air traffic controllers gear up for five days of strike action.Airport workers are planning to walk out from the morning of Monday 6 March to the evening of Friday 10 March, which will affect flights using southern and western French airspace, including many flights departing from the UK for the likes of Spain and Portugal too. Last year, a long-running dispute between the government and a range of air traffic control unions over staffing and pay led to bouts of strike action over the year. The summer was hugely disrupted, with a raft of flights being cancelled.Tjitze Noorderhaven, UK Manager of flight compensation firm EUclaim, said: “There is no sugar-coating it. Next week, we’re set for travel misery. If the French unions follow the strike patterns of 2014/15/16, we are also likely to see further action in May and June, spoiling summer holidays.” Airlines braced for flight disruption next week as strike action by French air traffic controllers looms Flybe also said travellers to check its live flight information, apologising for any inconvenience that arises from circumstances “that are entirely beyond our control”.A British Airways spokesperson said the airline was currently awaiting more information from the French authorities, before providing any update to its schedules.The airline is facing strike action of its own at the moment as an ongoing row over pay has led to Unite members of its Mixed Fleet crew staging a week-long walkout, from today.Read more: British Airways cabin crew start fresh week-long walkout over “poverty pay”BA has said it will still manage to fly all passengers to their destinations, despite the action. Share An EasyJet spokesperson said: “Like all airlines, our flights to and from French airports, as well as those flying in French airspace, might be affected. Should strike action go ahead EasyJet will advise affected customers of any flight changes via e-mail and SMS.”Read more: EasyJet and Founders Factory name first startups for accelerator programmeThe low-budget airline is also recommending customers planning to fly to or from France on the affected dates to check the status of their flight on EasyJet’s flight tracker prior to travelling. “Although this is outside of our control we would like to apologise to all our customers for any inconvenience and would like to assure our passengers that we are doing all possible to minimise any disruption as a result of the industrial action,” they added.Monarch said there may well be disruption, but “we plan to operate a full schedule and would like to advise customers to check-in online where they can, or arrive at the airport in plenty of time to check your flights”. read more

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Lloyds Banking Group hires Professor Russel Griggs to oversee its HBOS Reading scandal review

Lloyds vowed shortly after the trial concluded that it would be reconsidering the cases of customers caught up in the scandal in light of the evidence which had been unearthed by the trial.Read more: Lloyds Banking Group has set aside an extra £350m to cover PPI claims A statement from the bank said Griggs had been “selected for his experience in overseeing high profile reviews of a complex nature”.Griggs’ previous work includes chairing the Confederation of British Industry UK small and medium enterprise council between 2007 and 2010 and reviewing of the British Bankers’ Association branch closures programme last year.Read more: Have British banks finally got over the financial crisis? Monday 20 March 2017 2:58 pm whatsapp Lloyds Banking Group hires Professor Russel Griggs to oversee its HBOS Reading scandal review Lloyds added it had already written to most of the customers it had been identified as being harmed by the wrongdoers’ actions. Lloyds share price is currently trading down 0.3 per cent at 69.16p. whatsapp Share Lloyds Banking Group has appointed Professor Russel Griggs to oversee the independent review into the HBOS Reading scandal. Two ex-HBOS bankers were among six people jailed back in February for their roles in a ruse to drive small businesses into the ground for personal gain, running up nearly £250m in losses for the bank which had to be bought out by Lloyds at the height of the financial crisis. Hayley Kirton Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamourWhat Causes Hair Loss? Every Trigger ExplainedVegamourSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamourWant Thicker Hair? Follow These 12 StepsVegamourHow Often Can You Dye Your Hair?VegamourTips & Tricks for Styling Thin HairVegamour16 Foods to Grow Your Healthiest Hair EverVegamour read more

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The UK’s 2017-18 budget deficit hits an 11-year low

Meanwhile, the budget deficit for the financial year to July stood at £12.8bn, according to ONS figures released today, 40 per cent lower than for the same period in 2017, and the lowest year-to-date deficit since 2002.“While this is partly due to some favourable one-off factors, such as a change in the timing of payments to the EU, there also seems to be a continued underlying improvement in the overall public finances,” said John Hawksworth, chief economist at PwC.For 2017-18, the deficit was the lowest in 11 years at £39.4bn, a £6.4bn reduction on the previous year, and £5.8bn below OBR expectations.OBR predicts that the current financial year’s deficit should fall to £37.1bn, around a quarter of the UK’s net borrowing activity at the height of the financial crisis in 2010.“We have made great progress repairing the public finances,” a Treasury spokesperson said. “Thanks to the hard work of the British people, government borrowing is down by three quarters and debt is due to begin its first sustained fall in a generation. whatsapp The UK recorded its largest July surplus for 18 years last month, standing at £2bn, as ONS figures revealed robust deficit reduction in Britain’s finances.July’s surplus was double that from a year ago, with economic growth and high employment credited with fuelling the increase, handing Chancellor Philip Hammond cash he can put towards his £20bn-a-year NHS funding boost. whatsapp Joe Curtis “But we cannot be complacent, and we must keep debt falling to build a stronger economy and secure a brighter future for the next generation.”Most of the last financial year’s deficit was allocated to cover capital spending on infrastructure, the ONS said, with borrowing to cover the public sector’s day-to-day activities resulting in a £1.2bn surplus, the first since 2002.“If the pattern for the balance of spending follows the trend we’ve seen over the last two years, the chancellor may have an extra £10bn to spend from this fiscal year,” said Yael Selfin, KPMG’s chief economist.However, the government’s NHS funding pledge means “there will be little room for additional spend in the Autumn Budget” if Hammond sticks to his guns on bringing the structural deficit to below two per cent of GDP by 2020-21, she added.Excluding the Bank of England’s economy-boosting activities, by the end of July net debt stood at £1.6 trillion, or 75 per cent of GDP, down by £31bn on the same period last year. Tuesday 21 August 2018 12:46 pm However, the Centre for Economics and Business Research (Cebr) warned that the UK’s high employment figures that helped deliver July’s surplus couldn’t help reduce this debt further without measures to combat the UK’s ageing population.“Without sustained action the risks associated with an ageing population will put pressure on public finances for years to come,” senior economist Alastair Neame said. Share The UK’s 2017-18 budget deficit hits an 11-year low More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com read more

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German business confidence jumps after trade war fears ease

Jasper Jolly German business confidence jumps after trade war fears ease whatsapp Germany’s business confidence improved markedly in August, according to a closely watched survey, in a strong positive signal from the Eurozone’s economic powerhouse following a diminished threat from the trade dispute from the US.The Ifo (Insitute of Economic Research) business confidence index rose to a reading of 103.8, up from 101.7 the previous month to hit its highest point since March. Monday 27 August 2018 10:33 am “The German economy is performing robustly,” said Clemens Fuest, president of the Ifo Institute. “Current figures point to economic growth of 0.5 per cent in the third quarter.”Read more: European firms not ready for no-deal BrexitGermany’s output, the largest in Europe, is a crucial component of broader economic growth in the Eurozone. Eurozone growth has slowed in 2018, with two quarters of 0.4 per cent quarterly expansion after five consecutive quarters of 0.7 per cent increases in activity.The Institute reported that services sector business confidence has improved “significantly”, with the expectations component of the index rising at the fastest pace since June 2009, when firms saw a bounce back from the depths of the financial crisis.A stronger German economy would provide support to the European Central Bank, which is planning to stop its quantitative easing bond purchases in December. The massive economic stimulus programme will not be unwound until interest rates are considerably higher, but a stronger performance from the European economy would be more likely to result in a slightly faster pace of interest rate hikes.The euro gained against the dollar following the data, although traded at just above $1.16 at the time of writing, within the range set earlier in the day. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastVitaminewsShe Had No Clue Why The Crowd Started Cheering HerVitaminewsOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Love whatsapp On Germany’s factory floors the confidence measure rose for the first time in seven months. An improvement in confidence in the car sector was a key driver, coming after European Commission boss Jean-Claude Juncker secured an agreement with US President Donald Trump not to impose tariffs on the sector, at least for now.Read more: China vows to continue retaliatory tariffs against Trump’s USTrump had threatened tariffs of as much as 20 per cent of the imported value of cars to the US, a move which economists had feared would herald the start of a trade war proper and a severe economic hit to the Eurozone economy.Confidence jumped far above analysts’ expectations of 101.9 points, with firms’ satisfaction with their current business situation driving the improvement.The survey, considered by economists to be a leading indicator for the performance of the giant German economy, showed a positive read more

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If the FCA won’t regulate bad behaviour by banks such as RBS, then who will?

Tuesday 4 September 2018 11:06 am whatsapp John McElroy whatsapp This summer, the Financial Conduct Authority (FCA) confirmed that it would take no disciplinary action against Royal Bank of Scotland (RBS), despite its “widespread and systematic” mistreatment of SME customers at the hands of its restructuring arm GRG.This is disappointing, but it’s no surprise that the regulator is unable to do anything. The Senior Managers Regime – which launched in 2016 to hold executives to account – is not retrospective. Meanwhile, the current regulations, or lack thereof, around commercial lending to SMEs are in dire need of review. The GRG saga has thrown this into sharp relief, and raises the glaring question: if the regulator won’t regulate, who will? The current situation is untenable. Since it is so difficult for the regulator to act within the regulatory framework, the banks appear untouchable – an unacceptable outcome.Read more: Why a red tape bonfire won’t help fintechWhile the FCA regulates all financial firms that provide services to consumers, the watchdog needs to have the powers to investigate and punish all divisions of financial institutions that are customer-facing – even if the customer is an SME.Even the remedies that are in place are inadequate – a fact that is demonstrated by the figures released by RBS in relation to its compensation scheme, set up by the bank to deal with complaints relating to GRG.The scheme has been widely criticised, not only for the number of cases it has processed, but for the value of compensation granted, and for its limited scope. According to the FCA’s own analysis, GRG has been responsible for thousands of SMEs closing unnecessarily, but many have not been able to claim any recompense because of RBS’s definition of which businesses could claim. Share If the FCA won’t regulate bad behaviour by banks such as RBS, then who will? Finally, we need to make clear what it means for the FCA to “oversee” compensation schemes. The regulator said it would “oversee” the scheme, and yet RBS – by its own admission – has only accepted responsibility for any losses in around 25 per cent of claims.The FCA needs to have proper oversight, with set conditions, rather than running the risk of letting banks turn such schemes into PR exercises.While the FCA has faced criticism for the saga, steps can and should be taken to rectify the current situation and grant those who have suffered at the hands of GRG the justice and compensation they deserve. The regulator and consumers will want to ensure that an episode like this does not happen again.To do this, the regulators need teeth to bite back.Read more: Experts sceptical of new powers for Pensions Regulator For example, the FCA’s initial investigation included all customers in the Specialised Relationship Management Unit (SRM), a unit within GRG. However, RBS’s definition of GRG customers in the compensation scheme only included a subset of SRM customers, as the bank maintains that the whole SRM unit was never part of GRG.The result is that 8,000 SRM small business owners have been excluded outright from the compensation scheme.This is further compounded by the announcement in July from RBS that it is planning to close the compensation scheme in October. This is apparently due to the decline of complaints – according to RBS, it is currently receiving “roughly six complaints a week, a number that has been in decline since its peak of 35 a week in December 2016”.However, the bank has so far only received 1,230 complaints from the 16,000 customers eligible to use the scheme, and resolved just over 50 per cent of those made. And only 390 of those cases have been upheld (95 per cent of them only in part).Furthermore, while the bank has put aside £400m for the scheme, just £10m has been paid so far for direct losses, and £115m in automatic refunds for fees charged by GRG. In other words, less than one third of the compensation pot has been paid out. The justification for closing the compensation scheme next month therefore seems premature at best.Businesses that have already submitted a claim will be processed under the current scheme. Any that complain after the closing date can use the bank’s normal complaints procedure, but cannot appeal to a third party if they disagree with the bank’s finding. This is despite the FCA’s findings that GRG was directly at fault.The FCA is already overstretched, and while one would not want to overburden it, there is no point in having a regulator that has no teeth and cannot hold the sector accountable. The lack of sufficient regulation means that many SMEs that suffered because of RBS’s conduct did not and will not receive the compensation they deserve.Many have asked if this shows that more legislation is needed. It clearly does. The All-Party Parliamentary Group on Fair Business Banking has asked the FCA to release its findings so that “the public, press and parliamentarians can determine whether the FCA should have taken action against senior management and whether we need to provide the regulator with more powers”.In these circumstances, we need to discuss whether the FCA’s powers should be made retrospective, in order to ensure that RBS is penalised appropriately. Lessons also need to be learned from the inadequacies of the compensation scheme. read more

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IMF warns time has run out for no-deal Brexit preparations

first_imgThe British government faces a “daunting” range of issues, “underscoring the importance of securing an implementation period”, the IMF said in its annual assessment of the state of the British economy.“The massive scope of work that remains and the limited time before the UK exits the EU would likely leave preparations incomplete on departure day despite even the most determined efforts,” the report said.Lagarde said the 63 separate trade agreements which would have to be negotiated in a short space of time represented a “heck of a lot of work”. Travel and access to medicines are likely to be among the first impacts on members of the public from a no-deal Brexit, she added.The IMF said “fundamental questions” are yet to be answered in the future economic relationship and the land border between the UK and Ireland.“Resolving these issues is critical to avoid a ‘no deal’ credit on WTO terms that would entail substantial costs for the UK economy,” the statement said. Monday 17 September 2018 12:41 pm whatsapp IMF warns time has run out for no-deal Brexit preparations whatsappcenter_img The International Monetary Fund (IMF) today warned that the government has run out of time to prepare fully for a no-deal Brexit, saying it would impose “substantial costs”on the British economy.Christine Lagarde, the IMF’s managing director, said that a no-deal Brexit risks a “reduction of the size of the UK economy”, with a larger deficit and a big fall in the value of the pound. Speaking at the Treasury in London, Lagarde said it is “critical to avoid a no-deal Brexit which would impose very large costs on the UK economy”.The government’s stated aim is to secure a trade deal with the EU, but ministers have repeatedly warned that no deal remains a possibility, with just over six months to go until the UK leaves the EU on 29 March 2019. Some proponents of leaving the EU say the UK should leave without a deal if the deal gives too much power to Brussels.Michel Barnier, the EU’s chief negotiator, today told journalists in Spain that talks are proceeding in a “spirit of good cooperation”, according to Reuters, but many observers fear that the lack of progress on key issues, including the status of the Irish border, is standing in the way of a deal.Chancellor Philip Hammond, who was present at Lagarde’s assessment, today said the UK “must heed the warnings” of the IMF. Leaving without a deal would put at risk the economic progress the UK has made since the financial crisis, he added.Hammond previously wrote a letter to the Treasury Select Committee in which he said the Treasury’s analysis showed an £80bn hit to the public finances if the UK leaves without a deal, an analysis broadly shared by the IMF, which has been a vocal opponent of Brexit. Share Jasper Jolly last_img read more

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Paragon share price jumps as loan sale pushes up profits amid strong buy-to-let pipeline

first_imgNigel Terrington, Paragon chief executive, said: “The Idem Capital transaction and Titlestone acquisition in the final quarter of 2018 demonstrate the group’s ability to refocus capital to support its growth businesses and enhance value for shareholders.”In spite of the prevailing macro uncertainties we are well placed to benefit from scale economies in the commercial lending division, and the group continues to cement its position as a leading lender to professional landlords in the UK, underpinned by its 22-year history in this market. We look to the future with confidence.”Read more: Mark Carney warns house prices could fall by a third in a no-deal Brexit Challenger bank Paragon today announced a “reverse profit warning” after it sold a portfolio of loans, while it also sees a strong pipeline of buy-to-let loans.In an unscheduled trading update published today, Paragon said the premium for which it sold the assets will have a positive impact of seven pence per share on final earnings. Investors welcomed the news, with shares in the FTSE 250 lender rising by more than four per cent. Share Jasper Jolly whatsapp More From Our Partners Colin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Paragon, which specialises in buy-to-let mortgages alongside personal savings and mortgages, also said the buy-to-let pipeline at the end of its financial year will be over 25 per cent higher than last year.The lender has focused its attentions on the “professional” end of the buy-to-let market, protecting it from regulatory clampdowns. Some 90 per cent of applications are from professional landlords.Ian Gordon, banking analyst at Investec, said the “reverse profit warning” will “nail the bear case predicated on the false premise that buy-to-let volumes are slowing”.Underlying profits for 2018 “remain in line with the Board’s expectations”, Paragon said, but it capitalised on “strong market conditions” to book the profits on the loan book, which were owned by Idem Capital, Paragon’s portfolio purchase arm.The rest of the assets in the Idem arm will be transferred to Paragon Bank, which will use its growing retail deposit base to fund the loans at a much cheaper cost. Paragon has now grown its retail deposit base to £5bn, it revealed today.center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse Coastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPail Tuesday 18 September 2018 3:28 pm Paragon share price jumps as loan sale pushes up profits amid strong buy-to-let pipeline whatsapplast_img read more

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Noel Edmonds brands Archbishop of Canterbury a “reincarnation of evil” over Lloyds investment

first_imgTuesday 18 September 2018 5:58 pm Share Jessica Clark TV presenter Noel Edmonds branded the Archbishop of Canterbury a “reincarnation of evil” for investing in Lloyds Bank and failing to meet with HBOS fraud victims. The Deal or No Deal star, who is seeking £64m in damages from Lloyds, said Justin Welby was a hypocrite after the church leader last week mounted an attack on zero hours contracts and companies such as Amazon, despite revelations that the Church itself uses the same type of contracts.  whatsapp More From Our Partners Colin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Noel Edmonds brands Archbishop of Canterbury a “reincarnation of evil” over Lloyds investment whatsapp Lloyds Banking Group is one of the Church Commissioners 20 most valuable share holdings, according to last year’s annual report. City AM has approached Lambeth Palace for comment. Read more: Lloyds Bank private equity arm invests £25m in energy price comparison firm Read more: Lloyds Banking Group closes another 15 branches“Does he have a divine right to be an arsehole?” Edmonds said during a panel at the SME Alliance meeting, ITV news reported. “And I reckon that I’m justified in calling him that and much worse because he won’t meet me or any Lloyds victims and the church is one of the biggest investors in Lloyds Banking Group.”“Justin Welby, [you] used the expression but I think you are the reincarnation of an ancient evil,” he said.Bankers at the HBOS branch in Reading were jailed last year for a £245m scam, which destroyed a number of businesses as the proceeds were spent on holidays, luxury goods and prostitutes. last_img read more

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