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FCA to review payday loans interest rate cap amid loan shark fears

The FCA has today launched a call for evidence on how the wider high cost credit market is working - including rent to own and guarantor loans - to find out how firms are treating their customers. The payday loan cap came into force in January 2015 after concern among MPs and the Church of England about the impact very high interest rates have on vulnerable people taking out short-term loans to tide them over until payday.

Business

Gold rises from multi-month lows as USA dollar weakens

Spot gold was up 0.8 per cent at $US1,192.64 an ounce by 2.44 pm ET (0644 Tuesday AEDT), after climbing as high as $US1,197.54 earlier in the session. Spot gold was up 1.05% at $1,195.26 an ounce by 0252 GMT. Traders also said supply concerns in China after a directive from the People's Bank of China to limit gold imports, kept premiums in Shanghai around $22, driven by buoyant demand.

Business

Long Beach shoppers up early for Black Friday rush

Following the kick of the USA holiday shopping season on Thursday, Amazon.com, Inc. The National Retail Federation said holiday sales are expected to increase by about 3.6 percent this year, to $655.8 billion, which is slightly higher than the seven-year average of 3.4 percent since recovery from the Great Recession began in 2009.

Business

Needle Moving Activity Spotted in Gilead Sciences Inc. (NASDAQ:GILD)

These analysts have also projected a Low Estimate of $2.36/share and a High Estimate of $2.94/share. Gargoyle Investment Advisor L.L.C.'s holdings in Gilead Sciences were worth $1,207,000 at the end of the most recent reporting period. The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Friday, September 16th were issued a $0.47 dividend.

Business

OPEC deal push sends Algeria, Venezuela ministers to Moscow

Expressing satisfaction over the growing process of Iran-Eurasia cooperation, President Rouhani referred to the successful meeting between presidents of Iran, Russia and Azerbaijan in Baku, adding: "The second round of these negotiations in Tehran will further accelerate trilateral and regional cooperation".

Business

Why are These Liberal Senators Eager to Work with Trump?

Come January, the GOP will control the White House, the U.S. Senate, the U.S. House of Representatives and, presumably, the U.S. Supreme Court. "They invested nothing, they built no bench". This year the Democrats hoped to reap a windfall from the Trump candidacy. But more than anything, these strategists say the Democratic Party simply needs to show up.

Business

Trump 'irritated' by Conway attacks on Romney

In March, Romney delivered a blistering speech in which he called Trump "a con man", "a fake", "a phony" and "a fraud". She added: "If President-elect Trump chooses Mitt Romney as his secretary of state, or whomever he chooses, that will have the full support and backing of all of us".

Business

EU's Moscovici says Greek bailout review progressing well

A deal would be key to making Greece's debt and bailout program sustainable. Greece's bailout targets include a primary budget surplus of 3.5 percent of its output in 2018 and beyond. A second Eurogroup meeting may take place later next month, Greek and European Union officials have said. The Greek government, in contrast, fears that these measures would only exacerbate the nation's welfare crisis.

Business

Titans build lead, hold off Bears, 27-21

As the Titans weren't sustaining drives, the Bears were able to throw all over a defense that was gassed and has shown to not be able to stop anyone this entire year. Chicago Bears wide receiver Josh Bellamy (11) misses a catch during the second half of an National Football League footba ... Still, Barkley's resolve and poise was evident in the fourth quarter as he rallied the Bears with TD marches of 75 and 69 yards and that final 58-yard drive that stalled at the 7.

Business

Italian bank shares dive on fears about potential referendum defeat

The vote - which will be held on December 4 - is now just over a week away, and represents the final big political risk event in a year that has seen both Brexit and the election of Donald Trump as U.S. Pressure is mounting on Renzi to remain in power in the event of a "no" vote to avoid a full-blown banking crisis, as the most recent opinion polls predict his defeat.

Business

EPL: Arsenal 3-1 Bournemouth

It's been a hard November for the Gunners, and Arsene Wenger admitted their form had started to dampen the spirit of the players. Nacho Monreal, culpable for the first-half penalty, handled the ball inside the box after Harry Arter played it in his direction with the Cherries 2-1 down in the 73rd minute, and Jones failed to spot it.

Business

5 things you need to know for Cyber Monday

Target, meanwhile, offered a summary of what items were selling strongly on Sunday, the first day of its Cyber Monday promotion. The Amazon fulfillment center there is the size of 28 football fields. Thanksgiving Day online sales were just shy of the $2 billion at $1.93 billion, an 11.5% increase from a year ago. Forty percent plan to do the vast majority of their holiday shopping online, according to market researcher CivicScience , and another 35 percent plan to split spending between ...

Business

Carl Bernstein Blasts Trump's Unhinged Voter Fraud Claim: 'More Paranoid Than Nixon'

Yet the Green presidential candidate has raised north of $7 million thanks to the effort, far more than her campaign will have to spend on it. Trump, stung by the push to delegitimize his victory, couldn't resist tweeting his outrage on Sunday - slamming Clinton for her about-face, then spouting fiction about "millions of people who voted illegally".

Business

Striking workers to demonstrate at Denver airport

It says the goal is to hand out fliers to passengers and airport workers pushing for better working conditions there. In a news release, organizers say thousands of workers plan to walk off the job at McDonald's restaurants and other fast-food spots in more than 340 cities.

Business

Oil prices fall as nervous market eyes OPEC meeting

Brent crude futures LCOc1 were trading at $47.80 per barrel at 0546 GMT, down 44 cents, or 0.9 percent on November 29, from their last close. The price of crude was down on Tuesday, reflecting investors' caution about a final agreement being reached.

Business

Lufthansa cancels 1700 flights due to pilots' strike

Lufthansa's pilots' union said on Friday it rejected the airline's latest pay offer, only hours after it was made, but added it has no plans now for further strikes beyond Saturday. The pilots of Lufthansa Cargo have also not been called on to strike . Lufthansa pilots will continue their strike at least until Saturday.

Business

Oil prices climb on expectation of OPEC-led output cut

Oil prices were lifted this evening after Iraq signalled it is willing to "shoulder responsibility" for part of Opec's planned production cut and data showed United States crude inventories declined by 1.3m barrels. U.S. sweet crude lifted more than one per cent to $48.43, before slipping back to $48.18 a barrel. Saudi Arabia is backing an effort to make the steepest oil-production cuts possible at OPEC's meeting next week and to convince producers outside the cartel to help remove nearly ...

Business

'Fight for $15' Protests Underway at Airports, Restaurants

Strikes and protests at McDonald's and other quick-service restaurants are expected to begin early Tuesday morning, with one of the largest protests anticipated among workers at Chicago's O'Hare International Airport in the midst of post-Thanksgiving travel.

Business

Last person of 1800s celebrates 117th birthday

Morano was officially recognised as the world's oldest person after the previous holder of the title, Susannah Mushatt Jones, died in NY in May. She credits her longevity to the protein-rich food. "I don't have a voice anymore, I used to have a nice voice", Morano explained. "I sang in my house, and people on the road stopped to hear me singing".

Business

Why is there animal fat in the new £5 note?

Ms Rox encouraged other vegan businesspeople to follow suit: "It would be awesome if every vegan business owner, or even those that care about animals, would stop using five pound notes". "If we refuse them and they haven't got anything else, what are we going to do?" Now there is an online petition which says: "The new £5 notes contain animal fat in the form of tallow".

Business

Trump wins Michigan's 16 electoral votes, state board says

She has until Wednesday. The White House says President Barack Obama isn't anxious about his successor reversing his detente with Cuba. A senior administration official told ABC News Saturday there did not appear to be any malicious activity related to the vote count, and remained confident regarding the overall assessment of the election's integrity.

Business

Black Friday spending reaches average of $289 per person

Consumers shelled out $299.60 in 2015, according to the trade group, which bases its figures on surveys conducted by Prosper Insights & Analytics. Cyber Monday is on track to set a new record with $3.39 billion spent online in the US, a 10.2 percent increase year-over-year, according to data released by Adobe tonight.

Business

Amazon To Step Up War On Fake Goods

Amazon has acknowledged a worsening counterfeit problem on its site and says it has made fighting the fake products a "major goal" for next year (via The Verge ). No additional details about plans to curb fake products were provided. As you will have read previously on Tamebay, Amazon is really cracking down on reviews left by users with the aim making them as useful as possible and unskewed by incentives and freebies.

Business

Cyber Monday to hit record $3.36 billion - Adobe

Black Friday was the first day in US retail history with more than $1 billion in sales via mobile devices, with such sales jumping 33% to $1.2 billion, according to Adobe Digital Insights . Walmart reported more than 60% of their online sales orders came from phones. Out of the estimated 135.9 million USA adults who shopped this past week, 35 percent did so by phone and tablet, an increase from a 28 percent share a year ago, according to the trade group's survey .

Business

Adriaan Strauss: 'We Are Playing For More Than Allister Coetzee's Job'

It is hard to point a finger at exactly what is wrong. Their opponents on Saturday are in similar dire straits, having scraped past Argentina before nearly succumbing to defeat against Japan. Lourens Adriaanse was in at tighthead prop for Vincent Koch. Perception is a peculiar thing, a trickster that plays games with the facts and the impressions they leave.

Business

Numis Securities Gives Aberdeen Asset Management Price Target With Potential -0.5% Downside

Aberdeen Asset Management PLC has 1,284,699,000 shares outstanding at the moment which are trading around 292.8 bringing Aberdeen Asset Management PLC's market capitalisation to 3.76B GBP. Liontrust Asset Management PLC (LON:LIO) has risen 23.88% since April 29, 2016 and is uptrending. Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Business

Aberdeen Asset Management plc 8.6% Potential Decrease Indicated by Cantor Fitzgerald

JP Morgan Cazenove's PT indicates a potential upside of 20.89% from the company's last close price. Liberum Capital lifted their target price on shares of Aberdeen Asset Management plc from GBX 243 ($3.01) to GBX 323 ($4.01) and gave the company a "hold" rating in a research note on Friday, October 7th.

Business

Lenovo ZUK Edge coming in December, confirms CEO

After a lot of leaks and speculations surrounding the Zuk Edge, the Zuk CEO has finally come forward and conformed that the company will be launching its new Zuk Edge next week. There are also rumors that a top-tier variant featuring 128 GB of internal storage will also be launched. The smartphone features a 13 MegaPixel rear camera and capable of 4 K video recording.

Business

What do Analysts Say about: Wells Fargo & Company (NYSE:WFC)

Similar, the positive performance for the quarter recorded as 35.19% and for the year was 26.11%, while the YTD performance remained at 26.45%. The company's stock is moving with the distance from SMA 50 of -12.47 Percent while the distance from 200-day simple moving average for the stock is -4.45 percent.

Business

Autumn Statement: Government set to borrow more as economy slows down

Hammond said the OBR now saw economic growth in 2018 at 1.7 per cent compared with March's forecast of 2.1 per cent. But the new fiscal mandate is also threatened by a forecast explosion in the number of pensioners in the early part of the next decade, the OBR said.

Business

StanChart to cut 10 percent of corporate, institutional banking staff

The unit, which houses the investment bank, has been run by Simon Cooper since April after he was recruited from HSBC Holdings Plc. A year after Chief Executive Officer Bill Winters unveiled his blueprint to turn around the lender, revenue is still falling across all divisions and the bank has said it's unlikely to hit profitability targets amid regulatory and economic uncertainty.

Business

B.C.'s rental vacancy rate increases to 1.3 per cent

CMHC reports that the average rent for an apartment in October was $83, up from $747 a year ago. But while the vacancy rate remained steady, the cost of housing has increase slightly in Vernon. The vacancy rate for all of B.C. rose to 1.3 per cent this year, up from 1.2 per cent which is more than two percentage points below the national rate of 3.4 per cent.

Business

South Carolina Gov. Nikki Haley, Betsy DeVos selected to join Trump administration

She signed state legislation to thwart a pro-Palestinian disinvestment campaign against Israel, known as Boycott, Divest and Sanction, or BDS - which made Israel one of the first to welcome her nomination. He later tweeted that the people of SC were "embarrassed" by Ms Haley. Trump's nomination of South Carolina's 44-year-old governor, Nikki Haley , as USA ambassador to the United Nations will be seen as a sign he is ready to forgive some foes to raise a bigger tent.

Business

Iraq will participate in OPEC oil-production cuts, al-Abadi says

The country wants OPEC to reduce production by a total of 900,000 barrels a day when it meets next week in Vienna because low prices are hurting global investment in the industry, he said. According to the report, a "gathering of experts" made a decision to recommend the oil ministers' meeting on November 30 include debate of a proposal from member Algeria to curb its output by that amount.

Business

Rosberg: Abu Dhabi was my toughest race

The fact that Hamilton has won 10 races to Rosberg's nine this year will be of no consolation to him. All of Hamilton's skullduggery was in vain as Rosberg won his first world title, but the British driver was frustrated by his team's actions.


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