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Wednesday, May 16, 2018
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 DAILY BRIEFING: Thomson Reuters applies to Ireland for a licence 16 May 7:03pm Updated DAILY BRIEFING: Thomson Reuters applies to Ireland for a licence
The business’s derivatives dealing hub, part of a host of operations being bought by private equity firm Blackstone for £12.6bn, will be based in Dublin. No staff are moving abroad.
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Currencies in USD
GBP 1,35 +0,223%
EUR 1,18 +0,254%
CHF 1,01 +0,398%
 Now Chinese go wild for Burberry’s £2,000 trenchcoats 16 May 4:51pm Now Chinese go wild for Burberry’s £2,000 trenchcoats
Demand for Burberry’s famous checked trench coats in China helped push up its wholesale business in Asia Pacific by 5 per cent last year - outstripping the US, Middle East, Europe and UK.
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 Next Royal Mail boss handed a £6m windfall to buy him out of his previous contract 16 May 4:51pm Next Royal Mail boss handed a £6m windfall to buy him out of his previous contract
Rico Back, currently the boss of the company’s parcels arm, GLS, was paid the money to compensate him for payments he would have otherwise received.
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 Dealmaker Martin Gilbert puts board post at Glencore on hold to focus on Sky takeover battle  16 May 4:51pm Dealmaker Martin Gilbert puts board post at Glencore on hold to focus on Sky takeover battle 
Gilbert, 62, who is also co-chief executive of Standard Life Aberdeen, has been given a leave of absence from Glencore until mid-October as Comcast and 21st Century Fox fight to snap up Sky.
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 Crunch time for housing market: Buy-to-let sales plunge by fifth as £162m is wiped Crest Nicholson 16 May 4:51pm Crunch time for housing market: Buy-to-let sales plunge by fifth as £162m is wiped Crest Nicholson
As industry figures showed mortgage lending is on the slide, shares in Crest Nicholson dived 12.8 per cent after it warned that house prices have peaked but the cost of building them is rising.
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 BT to open customer help desks in EE shops as it tries to repair its battered reputation 16 May 4:51pm BT to open customer help desks in EE shops as it tries to repair its battered reputation
The helpdesks are being rolled out to 620 existing stores, with another 30 to open in the next seven months. BT was voted worst firm for shoddy service by Mail readers in 2017, 2016 and 2014.
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 MARKET REPORT: Pub chains suffer a chill as the Beast from the East hits sales 16 May 4:50pm MARKET REPORT: Pub chains suffer a chill as the Beast from the East hits sales
Mitchells, which owns All Bar One, lost around £12m in sales due to the weather and revealed an 8 per cent fall in profits to £69m.
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 Deliveroo dishes out £10m share options to staff – but not to its army of delivery cyclists  16 May 4:50pm Deliveroo dishes out £10m share options to staff – but not to its army of delivery cyclists 
William Shu, the company’s chief executive, told employees that they were being given stock because ‘Deliveroo’s success is not just my success’.
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 Buy-to-let takes a tumble as tax and tougher mortgage rules hit landlords 16 May 4:13pm Updated Buy-to-let takes a tumble as tax and tougher mortgage rules hit landlords
There were just 5,500 new buy-to-let home purchase mortgages completed in March, some 19 per cent fewer than in the same month last year, according to trade body UK Finance.
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 What will stop another pension disaster like Carillion? 16 May 12:45pm Updated What will stop another pension disaster like Carillion?
The pensions watchdog has come under fire as MPs issued a damning verdict on the collapse of Carillion, which has led to 27,000 of its former staff getting reduced retirement payouts.
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 FTSE LIVE: Paddy Power Betfair eyeing a move into the US 16 May 12:25pm Updated FTSE LIVE: Paddy Power Betfair eyeing a move into the US
The FTSE 100 closed up 11.22 points at 7734.20 and the pound was at $1.35. Paddy Power Betfair is trying to strike a deal to merge with US fantasy sports site Fanduel.
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 Burberry announces £150m share buyback as profits rise 16 May 11:00am Burberry announces £150m share buyback as profits rise
With its adjusted full year profit expectations slightly higher than expected, the group also said it planned to buy back a further £150million worth of its shares.
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 Savers must put away £260k to retire in comfort, says Royal London  16 May 10:26am Updated Savers must put away £260k to retire in comfort, says Royal London 
Insurer Royal London says an average earner needs a retirement pot of around £260,000.Those who rent homes into their retirement could need a total pot as high as £445,000.
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 A third of consumers have struggled with managing debt 16 May 10:14am Updated A third of consumers have struggled with managing debt
The most common cause of debt is personal loans, followed by car finance, credit cards and payday loans.
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 New parents can now get £15,000 life insurance for free from Post Office 16 May 9:39am Updated New parents can now get £15,000 life insurance for free from Post Office
The catch is the deal only pays out if the policyholder dies during the first 12 months. The payout is low and for most families, wouldn't be enough to cover the mortgage or other bills for long.
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 Could you save a fortune with new pay-as-you-drive motor insurance?  16 May 8:34am Updated Could you save a fortune with new pay-as-you-drive motor insurance? 
The average fully comprehensive car policy costs £503 — around 17 per cent higher than in 2013. And that’s after an unexpected £70 dip in average prices in the past three months.
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 Beware the red danger signs for house prices 16 May 8:29am Updated Beware the red danger signs for house prices
Increasing numbers of owners and buyers are suffering down valuations and as asking prices are cut and big mortgages return are there red lights flashing for the property market?
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 Paddy Power Betfair is in talks to buy US-based FanDuel  16 May 6:26am Paddy Power Betfair is in talks to buy US-based FanDuel 
Days after a landmark US Supreme Court ruling, Paddy Power Betfair and FanDuel hope to create a combined business to 'target the prospective US sports betting market.'
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 Said no to a smart meter? Prepare for a deluge of junk mail 16 May 5:48am Updated Said no to a smart meter? Prepare for a deluge of junk mail
Smart meters show exactly how much energy you are using minute-by-minute in pounds and pence and send this data automatically to your supplier.
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 Cashback website can turbo-charge efforts to save for a house deposit 16 May 4:57am Updated Cashback website can turbo-charge efforts to save for a house deposit
Brix customers earn reward points every time they spend money at one of 225 partner retailers and restaurants. Every £20 spent earns them one point, and each Brix point is converted into £1.
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 Last post for Aldermore Bank as customers forced to use internet 16 May 4:44am Updated Last post for Aldermore Bank as customers forced to use internet
Aldermore Bank is shutting down its postal service on its easy-access accounts, fixed-rate bonds and cash Isas .The move will happen on October 1.
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 Aviva savers still awaiting payouts from investments after IT glitch  16 May 4:43am Updated Aviva savers still awaiting payouts from investments after IT glitch 
Customers reported problems after an IT upgrade at the firm went wrong. Others have failed to have the right amount of tax relief added to their contributions.
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 Some 100,000 TSB customers still unable to access accounts online 16 May 4:39am Updated Some 100,000 TSB customers still unable to access accounts online
The disgraced bank says 95 per cent of its customers are now able to log into accounts after the system failure on April 22 which left 1.9 million people with no access.
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 Get your bank to pay for timeshare swindle 16 May 4:37am Updated Get your bank to pay for timeshare swindle
Timeshare owners were promised cheap holidays that never materialised. Now they could be in line for a refund after the financial ombudsman ordered banks to repay the money they invested.
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 ASK TONY: Virgin cancelled our flights to Antigua - then broke their promise of a 75% refund 16 May 4:05am Updated ASK TONY: Virgin cancelled our flights to Antigua - then broke their promise of a 75% refund
A friend and I travelled to Antigua with Virgin Holidays and chose to fly Premium Economy for the extra legroom. On the morning of our return, we received a text saying that the flight was cancelled.
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 Bounce cash from easy-access account to boost interest by £96 a year 16 May 3:50am Updated Bounce cash from easy-access account to boost interest by £96 a year
Savers can squeeze more interest from their nest-eggs — despite the Bank of England’s decision last week to leave its Base Rate unchanged at 0.5 per cent.
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 Retired shopkeeper loses £25,000 in Rolex watch scam 16 May 3:33am Updated Retired shopkeeper loses £25,000 in Rolex watch scam
Henry Peters lost more than £50,000 after fraudsters fooled him into buying two Rolex watches, which they then collected from his home in Lincolnshire.
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 How much have YOU got stashed away for a rainy day? 16 May 2:21am How much have YOU got stashed away for a rainy day?
Meet the woman who deal with the day to day struggles of spending, saving and planning for the future - and their secrets to not splurging and building their own nest eggs.
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