Selasa, 02 Juli 2019

Business Live: Tues 2 July - bbc.com

Copyright: Funding Circle

Peer-to-peer lending was going to be the next big thing in small-business lending, filling the gap left after the financial crisis a decade ago when many banks sharply curtailed their activity.

The idea was pleasingly simple, and also spoke to individual’s desires to support entrepreneurs and make money while doing so.

Funding Circle and other companies set up exchanges that matched lenders – often members of the public – with small businesses that needed money. It was hailed as a disruptive business model that would make life hard for the big banks, and tech investors swing behind it, making Funding Circle one of the first, and most lauded of Britain’s “unicorns” – private companies valued at more than $1bn.

All the while though, critics have sniped.

Peer-to-peer lenders would never be able to do the kind of due diligence that banks’ small business departments had done for years – and they would inevitably be left with the dross that had been passed over for bank loans.

Some investors carped that they had been matched with dud companies, while regulators have periodically issued warnings about the need for greater scrutiny of borrowing companies.

This morning’s unscheduled trading update from Funding Circle seems to flesh out some of those fears – a downturn has led the company to tighten its lending criteria. The share price neatly sums up investors new found caution – it floated on the London exchange just 10 months ago, at 440p a share. It now trades at 149p.

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https://www.bbc.com/news/live/business-48800228

2019-07-02 09:11:15Z
CBMiL2h0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9saXZlL2J1c2luZXNzLTQ4ODAwMjI40gEA

Business Live: Tues 2 July - bbc.com

Copyright: Funding Circle

Peer-to-peer lending was going to be the next big thing in small-business lending, filling the gap left after the financial crisis a decade ago when many banks sharply curtailed their activity.

The idea was pleasingly simple, and also spoke to individual’s desires to support entrepreneurs and make money while doing so.

Funding Circle and other companies set up exchanges that matched lenders – often members of the public – with small businesses that needed money. It was hailed as a disruptive business model that would make life hard for the big banks, and tech investors swing behind it, making Funding Circle one of the first, and most lauded of Britain’s “unicorns” – private companies valued at more than $1bn.

All the while though, critics have sniped.

Peer-to-peer lenders would never be able to do the kind of due diligence that banks’ small business departments had done for years – and they would inevitably be left with the dross that had been passed over for bank loans.

Some investors carped that they had been matched with dud companies, while regulators have periodically issued warnings about the need for greater scrutiny of borrowing companies.

This morning’s unscheduled trading update from Funding Circle seems to flesh out some of those fears – a downturn has led the company to tighten its lending criteria. The share price neatly sums up investors new found caution – it floated on the London exchange just 10 months ago, at 440p a share. It now trades at 149p.

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https://www.bbc.com/news/live/business-48800228

2019-07-02 09:00:00Z
CBMiL2h0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9saXZlL2J1c2luZXNzLTQ4ODAwMjI40gEA

UK's Hunt says if Iran breaks nuclear deal we are out as well - Reuters

Jeremy Hunt, a leadership candidate for Britain's Conservative Party, delivers a speech on his Brexit plan, in London, Britain, July 1, 2019. Frank Augstein/Pool via REUTERS

LONDON (Reuters) - If Iran breaks the nuclear deal then Britain is out of it as well, British foreign minister Jeremy Hunt said on Monday after Tehran said it had amassed more low-enriched uranium than permitted under its 2015 agreement with major powers.

Hunt, one of two contenders to replace Theresa May as prime minister, told Sky News that Britain still supported the deal.

“We want to preserve that deal because we don’t want Iran to have nuclear weapons but if Iran breaks that deal then we are out of it as well,” he said. Iran’s move was its first major step in violation of the deal since the United States pulled out of it more than a year ago.

Reporting by Kylie MacLellan; Editing by Mark Heinrich

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https://www.reuters.com/article/us-mideast-iran-britain-deal/uks-hunt-says-if-iran-breaks-nuclear-deal-we-are-out-as-well-idUSKCN1TW3KV

2019-07-01 18:55:00Z
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Senin, 01 Juli 2019

Hundreds of Hong Kong protesters storm government building over China extradition bill - CNN

They've been overshadowed by the chaos at the government headquarters this evening, but an estimated 550,000 people took part in the peaceful pro-democracy march today.

That figure comes from the organizers of the July 1 march, the Civil Human Rights Front.

It marks a huge surge in year-on-year attendance, and is more than 10 times the 50,000 people estimated to have marched on July 1, 2018.

Police, however, said an estimated 190,000 people took part in today's march.

Images from the protest showed young and old people marching side-by-side. Some parents even brought along their young children.

Among the chants used by protesters were "(Chief Executive) Carrie Lam, step down!" and "Free Hong Kong."

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https://www.cnn.com/asia/live-news/hong-kong-july-1-protests-intl-hnk/index.html

2019-07-01 16:06:00Z
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Oil prices up ahead of Opec meeting - BBC News

Copyright: BBC

Talking of share trading, let's have a look at how the FTSE 100 is doing today.

At mid-day it's at 7,519.94, which is a healthy rise of 94.28 or 1.28%.

Six shares have climbed more than 3% so far: NMC Health (up 3.70%), Smurfit Kappa (3.57%), Melrose Industries (3.57%), Flutter Entertainment (3.54%), Burberry (3.20%), Scottish Mortgage Investment Trust (3.11%).

Only one share has fallen more than 3% and that is Fresnillo, which is actually down 3.88%.

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https://www.bbc.com/news/live/business-48800225

2019-07-01 10:42:53Z
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Business Live: Mon 1 July - BBC News

Copyright: Getty Images

As mentioned earlier, mobile phone customers can now switch providers with a single free text under new rules which have come into effect.

Lindsey Fussell, Ofcom's consumer group director, has been talking to the Today programme about the changes.

"People have told us that one of the things that puts them off switching providers is talking to someone on the phone," she says.

"It now really never has been simpler to switch. If companies don't stick by our rules we will be able to open investigations, and even impose fines."

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https://www.bbc.com/news/live/business-48800225

2019-07-01 10:41:15Z
CBMiL2h0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9saXZlL2J1c2luZXNzLTQ4ODAwMjI10gEA

Business Live: Mon 1 July - BBC News

Copyright: Getty Images

As mentioned earlier, mobile phone customers can now switch providers with a single free text under new rules which have come into effect.

Lindsey Fussell, Ofcom's consumer group director, has been talking to the Today programme about the changes.

"People have told us that one of the things that puts them off switching providers is talking to someone on the phone," she says.

"It now really never has been simpler to switch. If companies don't stick by our rules we will be able to open investigations, and even impose fines."

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https://www.bbc.com/news/live/business-48800225

2019-07-01 10:18:45Z
CBMiL2h0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9saXZlL2J1c2luZXNzLTQ4ODAwMjI10gEA