Financial news

• 'Killer' children's car seats available for purchase in UK

  16-02-2019 11:40 via theguardian.com
  Products withdrawn from Amazon and eBay after Which? finds unsafe seats for saleChildren’s car seats that are made from flimsy material that breach EU safety rules, and have been shown to offer no protection at all for child passengers, can still be bought from some major online retailers, Which? has revealed.The consumer watchdog said the “killer” seats gave children almost no protection from the force of crashes but were described as suitable for newborns and children up to f
  
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• French strike forces Ryanair to cancel more than 300 flights across Europe

  24-04-2024 20:26
  
  Ryanair urges European Commission to protect overflights and keep EU skies openRyanair has demanded that the EU reform its skies after the airline was forced to cancel more than 300 flights across Europe scheduled for Thursday because of a strike by French air traffic controllers.The cancellations come in spite of the withdrawal of strike action by one of the biggest unions, the SNCTA, which came too late to avoid disruption after France’s civil aviation authority asked airlines to cut fli
  
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• Survey finds that 60 firms are responsible for half of world’s plastic pollution

  24-04-2024 20:00
  
  Study confirms Philip Morris International, Danone, Nestlé, PepsiCo and Coca-Cola are worst offendersFewer than 60 multinationals are responsible for more than half of the world’s plastic pollution, with five responsible for a quarter of that, based on the findings of a piece of research published on Wednesday.The researchers concluded that for every percentage increase in plastic produced, there was an equivalent increase in plastic pollution in the environment. Continue reading...
  
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• Designer brands owed millions after Matchesfashion collapse

  24-04-2024 19:50
  
  Some customers of the online fashion site, which owed more than £210m when it collapsed in March, are also unable to get refundsDesigner brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after online fashion site Matchesfashion collapsed owing more than £210m last month.Customers who bought designer items prior to the administration are not able to return items or get a refund, according to a report by ad
  
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• Barbados leader halts £3m payout to UK MP for Drax Hall plantation

  24-04-2024 18:52
  
  Government U-turn as PM Mia Mottley acknowledges anger from reparations movement over plan to buy Barbados land from Dorset MP Richard DraxThe prime minister of Barbados, Mia Mottley, has halted plans for a multi-million-pound payout to the British Conservative MP Richard Drax for the purchase of 53 acres of the Drax Hall plantation, which he owns.As revealed in the Observer last Sunday, the payout plan had angered those involved in the Caribbean reparations movement, who said Drax, the MP for S
  
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• Why is US threatening to ban TikTok and will other countries follow suit?

  24-04-2024 18:42
  
  Joe Biden signs into law bill requiring Chinese owner to sell app’s US operationsSenate passes bill banning TikTok if owner does not sell itJoe Biden has signed into law a bill that requires TikTok’s Chinese owner to sell the social media app’s US operations or face a ban, after the Senate passed the legislation.The law, part of a foreign aid package for Ukraine, Israel and Taiwan, sets the clock ticking on a potential ban for a platform that is hugely popular in the US. Conti
  
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• Trump to receive bonus worth $1.2bn for Trump Media stock performance

  24-04-2024 18:26
  
  A price floor means ex-president gets bonus even though Trump Media & Technology Group’s stock value has plummetedFormer president Donald Trump qualified for a bonus worth $1.2bn after shares in his social media company remained above a certain value despite falling sharply.Trump is poised to receive 36m additional shares in Trump Media & Technology Group (TMTG), owner of his Truth Social platform, under an “earn-out” windfall which boosts the paper value of his stake i
  
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• UK competition watchdog steps up scrutiny of big tech’s role in AI startups

  24-04-2024 17:26
  
  Microsoft and Amazon asked to comment on tie-ups, a move that paves way for formal investigationThe UK competition watchdog has stepped up its scrutiny of big tech involvement in artificial intelligence startups, asking for comment on three deals by Microsoft and Amazon.The Competition and Markets Authority (CMA) announced that it was examining Microsoft’s investment in the French firm Mistral and the hiring of the DeepMind co-founder Mustafa Suleyman as head of the US company’s new
  
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• Share of electricity generated by fossil fuels in Great Britain drops to record low

  24-04-2024 15:23
  
  Gas and coal accounted for just 2.4% of power generation for an hour last week, data shows, amid ‘zero-carbon grid’ plansThe share of Great Britain’s electricity generated by burning fossil fuels plummeted to unprecedented lows this month, ahead of plans to begin running a “zero-carbon grid” for short periods from next year.Electricity generated by burning gas and coal fell to a record low of just 2.4% for an hour at lunchtime on Monday 15 April, according to an ana
  
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• How soon can Tesla get its more affordable car to market?

  24-04-2024 14:02
  
  Shares jump after carmaker says it is looking to accelerate production of lower-price EVsTesla sees biggest revenue drop since 2012 but shares still surgeElectric and hybrid car sales to rise to new global record in 2024Tesla’s plans to bring a more affordable electric vehicle to the market appear to have moved a step closer.On Tuesday, the company’s share price shot up by 12% after an update revealed the carmaker was hoping to accelerate the production of lower-priced EVs, with prod
  
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• Nigel Farage can host GB News show during election, says Ofcom

  24-04-2024 13:01
  
  Media regulator says no clear consensus among British public to ban politicians presenting on news channelsUK politics – latest updatesNigel Farage will be allowed to present his nightly GB News programme throughout the general election campaign, Ofcom has confirmed, after the media regulator said there was no clear consensus among the British public to stop politicians presenting shows on news channels.The founder of the Reform UK party, which has the backing of 10% of voters in opinion p
  
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• Venice access fee: what is it and how much does it cost?

  24-04-2024 12:50
  
  The Italian Unesco site is hoping to reduce over-tourism with the charge – the first of its kind in a major cityAfter years in the making, Venice will on Thursday begin charging day trippers to enter the city in an effort to protect the Unesco world heritage site from the effects of over-tourism.While the measure has ignited criticism and derision from some, who argue it is unconstitutional and restrictive of freedom of movement – the Venice mayor, Luigi Brugnaro, has compared his &l
  
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• Lloyds profits fall as competition for mortgages heats up

  24-04-2024 11:43 via theguardian.com
  
  Pre-tax profits drop to £1.6bn between January and March, down from £2.3bn last yearBusiness live – latest updatesLloyds Banking Group has suffered a 28% drop in first-quarter profits amid tough competition for mortgages and savings, but bosses said they expected those pressures to soon ease, helped by an improving UK economy.The country’s largest mortgage lender, which also owns the Halifax brand, said pre-tax profits dropped to £1.6bn between January and March, ha
  
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• Matchesfashion strikes a sour note as my £902 goes missing

  24-04-2024 08:00 via theguardian.com
  
  I returned two coats and the parcel was lost and then it went into administrationAt the end of January I bought two coats from Matchesfashion for £902. I returned them, but the parcel has been lost and now Matches has gone into administration and I don’t have the coats or the money.I used the DHL labels provided to send them back on 27 February, and followed up a week later as I had not received a refund. I was told my package was still in transit, so I returned to the drop-off point
  
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• Plant apocalypse: how new diseases are destroying EU trees and crops

  24-04-2024 06:00
  
  From ancient olive groves to root vegetables, foreign pests introduced via the bloc’s open import system are causing damage worth billions – and outbreaks are on the riseThe plants slowly choke to death, wither and dry out. They die en masse, leaves dropping and bark turning grey, creating a sea of monochrome. Since scientists first discovered Xylella fastidiosa in 2013 in Puglia, Italy, it has killed a third of the region’s 60 million olive trees – which once produced al
  
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• Senate passes bill banning TikTok if parent company does not sell it

  24-04-2024 03:58
  
  Bill gives app owner, ByteDance, a year to divest, and while Biden is expected to sign it, the company plans to fight itWhy is US threatening to ban TikTok and will other countries follow suit?The Senate voted on Tuesday to pass a bill that will either ban TikTok or force a sale of the short-form video app, giving its China-based parent company ByteDance up to one year to divest its crown jewel before facing deletion from US app stores.The vote was a landslide, with 79 senators voting in favor a
  
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• Tesla sees biggest revenue drop since 2012 but company shares still surge

  24-04-2024 02:06
  
  Shares up despite dip in revenue and profits after company said it expects to release new vehicle models sooner than expectedTesla shares surged nearly 10% in after-hours trading on Tuesday after posting earnings results, despite a revenue miss for the first quarter of 2024, a steep decline in profits, and a recall of its most recently released car, the $100,000 Cybertruck.The electric vehicle manufacturer posted $21.3bn in revenue, lower than the $21.48bn that was estimated and a 9% drop year o
  
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• England childcare scheme may struggle to deliver places, finds ‘damning’ report

  24-04-2024 01:01 via theguardian.com
  
  Watchdog says only a third of local authorities are confident they will have enough places for SeptemberThe deployment of the government’s childcare scheme to tens of thousands more families is facing “significant uncertainties” and may struggle to meet its own targets, according to a report by Whitehall’s spending watchdog.The National Audit Office revealed the Department for Education (DfE) had assessed the likelihood of being able to deliver the funded childcare places
  
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• Leading UK lenders raise fixed-rate mortgage deals amid ‘market uncertainty’

  23-04-2024 16:41 via theguardian.com
  
  Borrowers urged not to panic as banks including Barclays, NatWest and HSBCreadjust cost of loansAt least five leading lenders increased rates on their fixed mortgage deals on Tuesday in response to “market uncertainty”, adding to pressure on homebuyers and those looking to remortgage.Barclays, HSBC, NatWest, Accord Mortgages (part of Yorkshire building society) and Leeds building society have all upped the cost of some fixed-rate deals. In some cases these have risen by up to 0.4 per
  
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• FTSE 100 is an international laggard despite its record high | Nils Pratley

  23-04-2024 15:51
  
  Index’s rise has been driven by the dollar’s strength against the pound – and that effect can reverseWhat’s behind the FTSE 100 record high?Business live – latest updatesEvery dog will have its day and here comes the FTSE 100 index, not so much soaring as limping to a record high of 8,076. If that sounds too grumpy, consider that the previous record, 8,047, was set in February last year. In the 14 months it has taken the UK’s premier index to regain its old re
  
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• What’s behind the record FTSE 100 high?

  23-04-2024 14:08
  
  Hopes of a UK interest rate cut and easing geopolitical tensions are not the only reasons for the intraday peak reached this morningThe UK stock market has hit an intraday record high, lifted by hopes of interest rate cuts and easing geopolitical tensions, after setting a new closing high on Monday. The FTSE 100 index touched 8,076 points at the opening bell on Tuesday, surpassing a previous high of 8,047 reached in February 2023. We explain what is behind the rising London market. Continue read
  
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• Was it Angela Rayner who was fined millions by HMRC? No, that was a Tory | Zoe Williams

  23-04-2024 12:00 via theguardian.com
  
  The man who reported Labour’s deputy to the police can’t even say what he was complaining about. Meanwhile, there’s no getting away from the Conservatives’ scandalsI went past parliament last week and saw Angela Rayner. She is one of those politicians you couldn’t miss anyway, but she was also dressed in primary colours and silver shoes, the purest “up yours” outfit imaginable.It was a couple of hours after a toe-curling exchange on Sky News in which the
  
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• Virgin Money launches new Cash ISA paying 'excellent' 5.05% interest rate

  23-04-2024 11:03 via express.co.uk
  
  Virgin Money's new account might appeal to savers happy to lock their cash away for one year.
  
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• Surge in supply of homes for sale in some seaside locations, Zoopla finds

  23-04-2024 10:28 via express.co.uk
  
  Supply has increased particularly strongly in locations including Cornwall; Bournemouth, Christchurch and Poole in Dorset; and North Kesteven in Lincolnshire, Zoopla said.
  
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• Fears rising school prices will force parents to pull children out of private education

  23-04-2024 10:06 via express.co.uk
  
  Just over one in five parents will have to remove their child from private school and one in four will have to take on additional borrowing to be able to afford rising school fees.
  
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• Inheritance tax receipts reach a record-breaking £7.5bn - three ways to slash your bill

  23-04-2024 09:37 via express.co.uk
  
  HMRC raked in £400million more between March 2023 and April 2024, compared to the same period a year prior.
  
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• Martin Lewis issues urgent warning to anyone with curtains in their home

  23-04-2024 09:12 via express.co.uk
  
  The Money Saving Expert has issued a warning to anyone who has curtains in their home or are planning on buying the home essential.
  
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• The expansion of free childcare has been a Tory-fied mess of a bright Labour idea | Polly Toynbee

  23-04-2024 09:00 via theguardian.com
  
  On a visit to a combined nursery and primary school, I saw how early years provision can really be transformedPanic and a screeching U-turn. The prime minister dismissed claims there were too few nursery places for every two-year-old in England (with working parents) on 1 April, the day that entitlement to 15 hours a week began. He even said: “Staffing levels have increased and more people are at work in the sector and the number of places has also increased over the past year.” Outs
  
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• State Pensioners given 'act now' warning to claim £1,319 a month boost - check eligibility

  23-04-2024 08:56 via express.co.uk
  
  The Department for Work and Pensions has applied the annual uprating to both the State Pension and the disability benefit, which will see more than 1.5million older people.
  
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• House prices warning as now is 'worst time to be first-time buyer in 70 years'

  23-04-2024 08:49 via express.co.uk
  
  Radical action is needed to turn around a slump in the number of people able realise their home owning dream, according to the Building Societies Association.
  
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