Wonga borrowers "to get just 4.3% of compensation claims"
People who were mis-sold loans by the payday lender Wonga have been told that they will receive just 4.3% of the compensation they are owed.
Administrators have begun informing around 400,000 claimants by letter, some of whom have reacted in dismay.
Before its collapse, Wonga was vilified for its high-cost, short-term loans, seen as targeting the vulnerable.
Commenting on the debt advice forum Debt Camel, one
2020.01.30
12:50
Tumble in UK car output "a grave concern", says trade body
2020-01-30
UK car production sank to its lowest in almost a decade in 2019, with output forecast to continue falling this year.
Factories produced 1.3 million units last year, down 14.2% on 2018 and the third consecutive year of decline, according to fig
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More store closings coming
2019-09-19
The retail apocalypse isnt showing any signs of slowing down.
Nine months into 2019, there have already been 40% more store closings announced than in all of 2018, according to a new report from global marketing research firm Coresight Research.
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How do you make more money when the Fed cuts rates?
2019-09-19
No one has been getting rich stuffing their money into a savings account, and its bound to get even tougher, as the Federal Reserve shifts further into a rate-cutting mode.
The Federal Reserve announced another rate cut after its two-day policy m
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Vodafone suffers faults across Europe
2019-06-15
Vodafone says it is working to tackle "disruption" to its mobile and fixed-line broadband services.
It has experienced a fault with an international link used to transmit data between countries but is rerouting traffic to add
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Hong Kong extradition row: Will it damage its star status?
2019-06-15
Changes to Hong Kongs extradition law could hurt the autonomy that has made it one of Asias main financial hubs.
The government is seeking to allow extraditions to mainland China, saying it makes sure Hong Kong remains a "safe cit
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Huawei: US blacklist will harm billions of consumers
2019-05-29
A US move to put Huawei on a trade blacklist "sets a dangerous precedent" that will harm billions of consumers, the firms top legal officer said.
Speaking at a press conference, Song Liuping said the trade ban would also &quo
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Borrowing from your 401(k) is easy. But should you really break open that piggy bank?
2019-05-29
The 401(k) is considered the cornerstone of retirement, but when times get tough, some people treat it like a piggy bank.
Nearly 3 in 10 Americans dip into their retirement savings, according to Transamerica. The most common reasons in
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Alexa goes to college: Echo Dots move into dorms on campus
2018-09-08
"Hey Alexa, why is tuition so high?” wrote Lexie Vasos on her universitys Facebook page.
The 22-year-old recent graduate of Saint Louis University (SLU) wasnt expecting a response from a smart speaker. And she didnt quite get one.
&q
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Equifax data breach: How to protect yourself beyond a credit freeze
2018-09-08
Putting a deep freeze on your three major credit reports is a well-known way to prevent fraudsters from opening credit cards and other loans in your name. But it’s an incomplete one.
Criminals are increasingly opening phone, utility, bank an
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Here are the top 10 most American-made vehicles: Jeep, Ford, Honda top Cars.com list
2018-06-23
With the threat of tariffs looming, consumers could face higher costs for imported vehicles.
American-made vehicles are largely insulated from tariffs. But the key question is: What qualifies as American-made?
Automotive parts are often sourced
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New study indicates video games aren"t just for boys anymore: A Foolish Take
2018-06-23
Teenage boys play more video games than teenage girls, but the gap between them may be smaller than you think. Pew Research Centers latest survey found that 83 percent of teenage girls played video games and that 75 percent of girls had access to a g
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Samsonite accused of "massaging profits"
2018-05-24
Shares in Samsonite International have tumbled after an investor claimed the worlds largest luggage maker had questionable accounting practices and poor corporate governance.
Blue Orca Capital said the owner of brands including Tumi and American T
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Deutsche Bank to cut more than 7,000 jobs
2018-05-24
Deutsche Bank has said it will cut more than 7,000 jobs as Germanys biggest lender attempts to return to profit.
The bank said it would reduce global staffing levels from just over 97,000 to "well below 90,000".
Following a review of
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Xiaomi launches $10bn Hong Kong stock market listing
2018-05-03
Chinese smartphone maker Xiaomi has filed to list on Hong Kongs stock market, in a move that is expected to raise up to $10bn (£7.5bn).
The stock market flotation will be the worlds biggest debut in 2018, and the largest since fellow China t
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Elon Musk: No "bonehead" analyst questions please
2018-05-03
Technology entrepreneur Elon Musk made the unusual choice of vetoing "boring" questions during Teslas latest earnings call.
The electric car maker posted a record quarterly loss of almost $710m (£523m) for the three months to March
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Wells Fargo hit by record $1bn penalty
2018-04-21
Wells Fargo has been fined a record $1bn by two US regulators to resolve investigations into car insurance and mortgage lending breaches.
The penalties have been imposed by the Consumer Financial Protection Bureau (CFPB) and the Office of the Comp
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Six shops defying the High Street downturn
2018-04-21
Sometimes it seems theres nothing but doom and gloom on the UKs High Streets.
This week we heard profits were down at Debenhams and a big deal between shopping centre owners Hammerson, which owns Birminghams Bullring, and Intu fell through.
New
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Big discounts! Here"s when Toys R Us" liquidation sale starts
2018-03-22
Toys R Us is hoping to start liquidation sales at most of its U.S. stores Thursday and complete those sales by the end of June.
The timetable was disclosed Tuesday at a hearing in U.S. Bankruptcy Court in Richmond, Va. The toy superstore
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Financial "fragility" could threaten more retirees in coming years
2018-03-22
We havent been hearing much lately about retirees facing severe financial hardships. Personal investment portfolios have rebounded with the stock market, home prices are up, pension plans are somewhat better-funded than a few years ago,&
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Norwegian airline responds to poem complaint in verse
2018-03-10
Low-cost airline Norwegian has responded in verse to a passenger who sent a scathing poem of his own to complain about the fee charged to change the name on a plane ticket.
Facebook user Gus Dolding first sent a poem complaining about being charge
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Trump and N Korea talks: Asia markets rally on peace hopes
2018-03-10
Asian markets rallied on Friday, on hopes that North Korean nuclear tensions might be easing.
Investors responded to US President Donald Trump accepting an invitation for face-to-face talks with North Korean leader Kim Jong-un.
There was alread
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NBC and Universal Pictures owner Comcast bids for British broadcaster Sky
2018-02-27
Comcast, the owner of NBC and Universal Pictures, has launched a bid for British pay TV broadcaster Sky that threatens to thwart the takeover ambitions of media mogul Rupert Murdoch.
The firm is offering 22.1 billion pounds ($29.50 billion) for Sk
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Is sticking by the NRA a branding problem? FedEx poses a test case
2018-02-27
Theres little advantage for most companies to stick with the National Rifle Association as public pressure after the mass shooting at a Parkland, Fla. high school pushes them to cut ties with the influential gun-owners group, say branding experts.
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Pfizer, Riding Tax Changes, Puts up Huge 4Q Profit
2018-01-30
_-_copy5675.jpg "Pfizer, Riding Tax Changes, Puts up Huge 4Q Profit")
Pfizers fourth-quarter profit soared to $12.27 billion thanks to a huge tax benefit related to the U.S. tax system overhaul.
The biggest U.S. drugmaker on Tuesday reported an $11.34 billion benefit, mainly from recalculating deferred tax liabi
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Global Stocks Sink as Investors Turn More Cautious
2018-01-30
_-_copy7871.jpg "Global Stocks Sink as Investors Turn More Cautious")
World stocks skidded lower on Tuesday as investors turned cautious about recent record highs and Wall Street suffered its biggest loss in over four months the day before.
KEEPING SCORE: The DAX in Germany lost 0.6 percent to 13,240 and the CAC 40
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Health the biggest risk to UK finances
2017-07-14
The UKs fiscal watchdog has said health costs are the biggest risk to the governments spending plans.
The Office for Budget Responsibilitys (OBR) says the UK faces the challenge of an ageing population and the high cost of technological advances.
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Travel tax plan wins £250,000 Wolfson Economics Prize
2017-07-14
A 27-year-old transport planner has won the £250,000 Wolfson Economics Prize for a plan to improve Britains roads.
Gergely Raccuja proposed a distance-based charge to replace fuel duty and vehicle excise duty, with the money raised being use
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Trump, House GOP jostle on ways to cut personal tax rates
2017-04-26
Capitol Hill awaits the promised release of President Trump’s tax plan this week, and lawmakers are hoping for clarity amid a debate roiled with myriad options — and no clear sense that any of the plans are gaining much traction.
Treas
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Increasing number of Americans are willing to drive farther, pay more for ethanol-free fuel
2017-04-26
Ethanol’s rise over the past decade has given birth to an under-the-radar market: Americans who are willing to travel miles out of their way and pay significantly more per gallon for ethanol-free fuel.
Like locally sourced food or antibiotic
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Sanders: Airlines are "dysfunctional"; Cong"ress must "take a hard look" at reform
2017-04-17
Calling U.S. airlines “dysfunctional,” Sen. Bernard Sanders said Sunday that Congress should examine the industry and consider requiring companies to be more respectful and responsive to their customers.
The Vermont independent and for
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Trump says Tax Day protesters were paid
2017-04-17
President Trump on Sunday suggested that the thousands of Tax Day protesters in cities across the country over the weekend were paid, and he called for “someone” to investigate who funded the effort.
The president tweeted about the ral
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Students fear new Chick-fil-A will create unsafe space on campus
2017-04-11
Students at Duquesne University are petitioning their school to reconsider a plan to bring Chick-fil-A to campus, arguing the fast-food restaurant’s support for traditional marriage would create an unsafe environment for gay students.
Niko M
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Kellyanne Conway: Tax reform will not be "rushed"
2017-04-11
White House counselor Kellyanne Conway on Tuesday said she thinks tax reform can happen sometime this year but that the process also isn’t going to be rushed.
“Remember, we don’t rush things here based on artificial timelines,&rd
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Coal miners vow 30 days of pressure on Congress to act on health care, pension guarantees
2017-04-03
With lives literally hanging in the balance, Congress is headed toward another last-minute showdown over health care and pensions for retired coal miners — some of whom have vowed to remain on Capitol Hill for 30 days to pressure lawmakers to a
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Bed Bath & Beyond clears up "confusion" over Ivanka Trump products
2017-04-03
Bed Bath & Beyond clarified that it’s still carrying Ivanka Trump merchandise in some stores after a representative’s claim that the company dropped the line was celebrated by anti-Trump boycotters.
Shannon Coulter, co-founder of t
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Sony Corp. casting wide net for Michael Lynton’s replacement
2017-03-27
Sounds like Sony Corp. Chief Executive Kazuo Hirai is casting a wide net in talks to replace Sony Entertainment boss Michael Lynton.
Warner Bros. Entertainment CEO Kevin Tsujihara has interviewed for the position, according to two people familiar
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Upstart clothing brand linked to celebs expands to regular guys
2017-03-27
Tom Cridland, chief executive of an upstart UK-based clothing brand that has managed to get its pricey duds into the hands of celebs like Leonardo DiCaprio, Ben Stiller and Daniel Craig, is now targeting ordinary shoppers.
The 26-year-old entrepre
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Trump budget goes big on border wall, short on agents
2017-03-21
Candidate Trump made bold promises about hiring enough agents to secure the border and deport illegal immigrants from the interior of the country. President Trump’s first budget gets off to a slow start.
By the end of 2018, Mr. Trump’s
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Ivanka Trump brand hit with class action lawsuit alleging "unfair competition"
2017-03-21
A San Francisco fashion retailer has filed a class action lawsuit against Ivanka Trump’s clothing line for unfair competition because of the first daughter’s ties to the White House.
Though Mrs. Trump does not have any official role in
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Neiman Marcus: Exploring options for company including sale
2017-03-15
NEW YORK (AP) — Luxury retailer Neiman Marcus says it’s exploring strategic alternatives including a sale of the company.
The announcement came as the retailer, which also operates Bergdorf Goodman, reported a loss in its second fiscal
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Obama’s final year: U.S. spent $36 million in records lawsuits
2017-03-15
WASHINGTON (AP) — The Obama administration in its final year in office spent a record $36.2 million on legal costs defending its refusal to turn over federal records under the Freedom of Information Act, according to an Associated Press analysi
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Drug firms plotted to make NHS pay more, says watchdog
2017-03-04
Two drug companies have been accused of striking an illegal agreement to ensure that the price of a life-saving medicine remained high, costing the NHS tens of millions of pounds a year.
The competition watchdog said yesterday that it had provisio
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Janet Yellen signals the Fed will likely raise rates this month
2017-03-04
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen is signaling that the Fed will likely resume raising interest rates later this month to reflect a strengthening job market and inflation edging toward the central bank’s 2 percent targe
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Air Canada says higher fuel costs will hit margins
2017-02-18
Air Canada is warning of lower margins in its current quarter as the airline deals with headwinds from higher fuel costs.
The airline said Friday that is expects its margins from its earnings before interest, taxes, depreciation, amortization and
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Kinder Morgan reported in talks on $6.8B Trans Mountain pipeline financing
2017-02-18
Kinder Morgan Inc. has begun talks with institutional investors including major Canadian pension funds and private equity firms to raise capital for the $6.8 billion expansion of its Trans Mountain pipeline project, according to people familiar with
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Brexiteers in warning to German business
2017-01-21
The German economy will pay a "high price" if its leaders make life hard for the UK over Brexit, British pro-Leave campaigners are to warn.
John Longworth, co-chair of Leave means Leave, and ex-minister Owen Paterson will sound the w
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Tribalism In Business: Why We As Leaders Must, And How We Can, Push It Back
2017-01-21
The tumultuous 2016 election, which finally ended with President Trump’s inauguration today, brought home how much American society, and indeed Western society, have become “tribalized”. I rarely heard the word “tribalis
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Greek finance minister hits back at IMF as bailout row deepens - business live
2016-12-13
Wall Street opens higher
Ahead of the US rate decision on Wednesday - with the first hike in a year widely expected - Wall Street is on the front foot again.
The Dow Jones Industrial Average has hit a new intra-day high of 19,
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Post Office says it will mostly be business as usual despite strike
2016-12-13
The Post Office has said next week’s strike will have minimal impact on Christmas mail, a claim disputed by the postal workers’ unions.
The government-backed post office operator said less than 3% of its outlets would be af
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Referendum adds to Italian banks" woes
2016-12-03
The focus of the news from Italy this weekend will be political - theres a referendum on constitutional reform.
The Prime Minister, Matteo Renzi, has said he will resign if the proposals are rejected.
This could be followed by new elections w
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Donald Trump vows "consequences" for companies leaving US
2016-12-03
President-elect Donald Trump has warned companies of "consequences" if they leave the United States.
He was speaking in Indiana, where he took credit for saving 1,000 jobs at the air-conditioning company Carrier Corp, which planned t
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Trump touts new hotel in Washington as example of business success
2016-10-26
With two weeks to go until the U.S. election, Republican presidential candidate Donald Trump touted his newest hotel venture on Wednesday, citing it as an example of his business success and ability to "get things done" for the American peo
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This Country Has Been Named the World"s Easiest Place to Do Business
2016-10-26
The World Bank tracks regulatory changes for businesses in 190 countries.
New Zealand has edged out Singapore to take top spot for ease of doing business in the World Bank’s latest rankings, but money laundering experts warned the honor mask
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13 Simple Ways to Market Your Business Offline
2016-10-26
Q: I run a small business and need some marketing ideas that I can use offline to get people to visit my store.
A: I review dozens of business plans each year. In the marketing section, nearly all of these plans say “We are going to ma
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Mercedes-Benz reveals luxury pickup truck
2016-10-26
Mercedes-Benz is jumping into the luxury pickup game, where profits are plentiful.
The luxury automotive brand, a division of German automaker Daimler, revealed a premium pickup truck dubbed the X-Class.
The company on Tuesday showed off a conc
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Judge approves $15B Volkswagen settlement
2016-10-26
A federal judge on Tuesday approved one of the largest consumer settlements in U.S. history, a nearly $15 billion U.S. deal concerning Volkswagen Groups diesel car emissions scandal.
The settlement sets in motion a massive vehicle buyback program
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Weak eurozone inflation raises prospect of ECB action - as it happened
2016-09-01
A slide in the oil price following a bigger than expected rise in US crude inventories helped put European markets under pressure, although banking shares were boosted by a number of positive signs from the UK economy and talk of possible merge
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German Businesses Blame U.S. for Iran Trade Disappointment
2016-09-01
FRANKFURT—German companies hoped the opening of Iran’s economy following the lifting of international sanctions in January would let them rekindle longstanding commercial ties and quickly strike gold.
Despite a jump in exports, the
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Hillary Clinton wants to be America"s small business president
2016-09-01
Both Donald Trump and Hillary Clinton have been doing their best to appeal to business owners on the campaign trail. Presidential candidate Hillary Clinton recently rolled out what she calls a job-creating package of reforms to jumpstart s
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Why It"s Vital to Pay Yourself First in Business
2016-09-01
As a business owner, I am sure you have heard of the concept of paying yourself. Unfortunately, based on my experience of working with hundreds of business owners, it’s a concept that many just don’t practice. I believe th
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World"s biggest economies in 2030
2015-04-13
In 15 years time, the US won’t be the world’s largest economy, China’s economy will have doubled, EU countries like France and Italy will be stagnant, and emerging markets will explode, according to new projections from the US
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Greece to be effective partner with Russia"s Gazprom - Forbes
2015-04-13
The Turkish Stream gas pipeline project makes Greece an important and useful partner for Russia’s Gazprom, despite the country‘s financial problems, Forbes magazine has said.
Greek Prime Minister Alexis Tsipras and Energy Minister
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Did you just miss your chance to get ruble-rich? Quite possibly
2015-04-13
Rogue investors who ignored the negative hype about Russia, are smiling from ear to ear after the ruble gained about 6 percent this week.
The ruble surged 6 percent this past week, opening Monday at 56.55 and closing at 53.5 on the Moscow Exch
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Loblaws expansion, renovations could squeeze "premium" Whole Foods market share
2015-03-12
Loblaws is sprucing up, Target is bowing out, Sobeys is eyeing Ontario, and the era of the "conventional" grocer is coming back shinier than ever, according to retail analysts.
After what CIBC World Markets researcher Perry Caicco de
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High consumer debt reflects "laissez-faire" attitude to borrowing
2015-03-12
Canadians spend too much money they dont have.
Sound familiar?
It should. Economists have been sounding the alarm about consumer debt for the last few years. It was also a recurring mantra of our late finance minister, Jim Flaherty.
Yet desp
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Fort McMurray goes about its business despite oil price drop
2015-03-12
The sudden drop in oil prices is bringing unsettled times to Alberta, the big-spending Canadian province that depends for its prosperity on extracting natural resources.
Albertas government is trying to find a way to make up for a $7-billion r
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Aboriginal workers, firms hit by Alberta oil slowdown
2015-03-12
Métis elder Yvonne McCallum has never really welcomed Big Oil into her community, but she accepts how important the energy industry has become to her people.
McCallum is the youngest elder in the community of Conklin, Alt
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Fort McMurray greenhouse to turn garbage into veggies
2015-03-12
The name Fort McMurray often conjures up grim images of oilsands mines, upgraders and tailing ponds.
Now, the local government is trying to turn over a new leaf – or at least grow some new leaves.
The community plans
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Apple Watch? Event on March 9 comes a month before launch
2015-02-27
Apple Inc sent out invitations for a media event in San Francisco on March 9, about one month before the much-anticipated launch of the new Apple Watch.
Apple Watch looks cool, but its a risky bet on fashion: Peter Nowak
The worl
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Halliburton oil services company closing Regina office
2015-02-27
Amid low crude prices, international oil services company Halliburton is closing its Regina office.
The company says the employees working out of the facility at 100 McDonald St. will be laid off by the end of March.
"Halliburton wi
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U.S. downgrades estimate of Q4 GDP growth to 2.2%
2015-02-27
The U.S. Commerce department has revised downwards its estimate of GDP growth in the 4th quarter of 2014, from 2.6 per cent to 2.2 per cent.
A worsening of the U.S. trade deficit and slower business inventory growth than expected both he
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Oil halted downward slide in February, but worst may not be over
2015-02-27
Toronto stocks rose and the Canadian dollar moved higher after oil showed signs of closing out February at a higher price than it achieved a month ago.
West Texas Intermediate, the most common North American contract, was up 75 cents at $49.94
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As Hedge Fund Returns Falter, Money Continues to Flow In
2015-02-27
Another year, and another mediocre performance by hedge funds, to put it kindly. The Barclay Hedge Fund Index gained a meager 2.89 percent in 2014, while the Standard & Poor’s 500-stock index gained over 13 percent and the B
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