• 15 October 2019 Related TopicsNobel Prize Image copyright AFP Image caption Esther Duflo and her husband and fellow prize-winner Abhijit Banerjee Economics Nobel prize winner Esther Duflo says she wants to use the award "as a megaphone" in her fight to ease poverty and improve children's education.Prof Duflo, only the second woman to win the economics award, told the BBC she hoped it...

  • Neil Woodford's flagship fund to be shut down 15 October 2019 Image copyright Reuters Neil Woodford's flagship fund is to be shut down, in a major humiliation for the UK's best-known stockpicker.Mr Woodford has also been removed as investment manager of the fund, which will be renamed.He has criticised the decision made by the fund's administrators, claiming it is not in the long-term interests...

  • 15 October 2019 comments Image copyright Getty Images The UK's financial regulator has announced a crackdown on the car financing industry which it claims will save drivers £165m.The Financial Conduct Authority wants to ban the way that some car dealers and brokers make commission on sales.It said that some dealers make commission on the loan's interest rate, which they set.The FCA said...

  • 15 October 2019 comments Image copyright Getty Images The UK jobs market is showing signs of slowing, after a surprise drop in the number of people in work.The unemployment rate unexpectedly rose to 3.9% in the June-to-August period from 3.8%, after the number of people in work unexpectedly fell by 56,000, official figures showed.The Office for National Statistics also said employment growth had...

  • 15 October 2019 comments Related TopicsBrexit Image copyright AFP Image caption New IMF managing director Kristalina Georgieva The global economy is growing at its slowest pace since the financial crisis, the International Monetary Fund (IMF) has said.The fund said world growth would hit just 3% this year - down from its July forecast of 3.2% and a sharp slowdown from just two years ago.The IMF...

  • 15 October 2019 Related TopicsThomas Cook collapse Media playback is unsupported on your device Media captionThomas Cook ex-boss on bonus: 'It's not up to me'Thomas Cook's ex-boss has been grilled over a bonus payment of £500,000 and said he was not the only one to blame for the holiday firm's collapse.Peter Fankhauser told a cross-party committee of MPs that he worked "tirelessly" for...

  • 15 October 2019 Related TopicsBrexit Image copyright Getty Images The pound has jumped to its highest level in five months on reports the two sides in the Brexit talks are inching towards a draft deal.Shares in banks and housebuilders also soared as optimism about a breakthrough buoyed companies with a UK focus.It was hoped that a preliminary deal might be reached on Tuesday, ready to go before...

  • 15 October 2019 Image caption The dedicated Harry Potter section at Primark Tottenham Court Road in London Primark has warned customers not to purchase its products from third parties online as they will be paying higher prices for them than in store.Reports had suggested Primark - which does not have an online shop - was now selling its products on Amazon.However, the High Street chain said...

  • Economists broadly count on the ECB on Thursday to cut back its key deposit charge by at the least 10 foundation factors, or a 10th of a share level, from the present stage of minus 0.4%. However expectations for the scale of the month-to-month bond-purchase program which may even be introduced have been eroding, a transfer that has helped maintain as soon as free-falling bond yields in place...

  • Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500's second straight weekly gain. The market shook off an early stumble thanks largely to gains in health care stocks, makers of consumer products and retailers. Technology, communications and utilities stocks fell, as did bond yields and gold prices. Facebook dropped 1.8% after New York's...

  • 15 October 2019 Related TopicsRoyal Mail strike Image copyright Getty Images Royal Mail is facing its first national postal strike in a decade after staff voted overwhelmingly for action.The dispute between workers and the firm is over job security and terms and conditions of employment. More than 97% of votes by members of the Communication Workers Union (CWU) backed a strike. Turnout was...

  • A time-tested relationship between stocks and bonds is breaking apart, and that could portend danger for investors who held Treasurys in the expectation that they would cushion the slide in stocks. Usually, the S&P 500 SPX, +0.72% and the 10-year Treasury note yield TMUBMUSD10Y, -1.09% have tracked each other closely so that when equities came under pressure, bond prices would rise, pushing their...

  • 15 October 2019 Image copyright Reuters The UK's best-known stockpicker is to close his remaining investment funds, signalling the end of his multi-billion-pound empire.Neil Woodford was sacked from his flagship fund early on Tuesday, and has now announced he will close the last two funds.He described it as a "highly painful decision", adding that the funds would be wound down in "an orderly...

  • By Kevin Peachey Personal finance reporter 14 October 2019 Related TopicsBrexit Media playback is unsupported on your device Media captionConfused by Brexit jargon? Reality Check unpacks the basicsHoliday company adverts are still urging you to whisk your family off on a European city break during the half-term holiday.Yet the minds of many potential holidaymakers are somewhat scrambled by...

  • By Szu Ping Chan Business reporter 14 October 2019 Image copyright Getty Images Image caption Facebook had said it hoped to launch Libra in 2020 Facebook's Libra cryptocurrency must not go ahead until the firm proves it is safe and secure, according to a report by the G7 group seen by the BBC.In a blow to the social media giant, the world's biggest economies warned cryptocurrencies such as Libra...

  • 14 October 2019 comments Image copyright PA Image caption Shadow chancellor John McDonnell has said Labour's nationalisation plans would be cost-neutral Labour's nationalisation plans would cost at least £196bn, according to the Confederation of British Industry.The employers' group said the up-front cost of taking control of the water and energy utilities, train firms and Royal Mail was...

  • 14 October 2019 Image copyright AFP The Budget has been announced for 6 November, with Chancellor Sajid Javid saying it will be "the first budget after leaving the EU"."This is the right and responsible thing to do - we must get on with governing," he said.It will be Mr Javid's first Budget since he became chancellor in July. The Budget date is normally announced in September. Mr Javid said the...

  • By Leo Kelion Technology desk editor 14 October 2019 comments Image copyright Getty Images Image caption The broadband industry had noted some homes could be given gigabit speeds without having to lay down full-fibre connections The UK government has opted not to pursue a target of delivering full-fibre broadband to all households by 2025.Prime Minster Boris Johnson proposed the target while...

  • 14 October 2019 Related TopicsNobel Prize Image copyright Getty Images Esther Duflo has said she is "humbled" by her success in winning this year's Nobel prize for economics and hopes it will "inspire many, many other women".Prof Duflo was part of a trio, alongside her husband Abhijit Banerjee and Michael Kremer, to win the prize.Their work had "dramatically improved our ability to fight poverty...

  • 14 October 2019 Image copyright Getty Images New tariffs on $156bn of Chinese goods will be imposed if a trade deal is not finalised by 15 December, the US Treasury Secretary has warned.Steven Mnuchin said he still hoped a tentative US-China deal agreed last week to suspend fresh tariffs would be formally approved.But his caution, during a CNBC interview, seemed in contrast with President...