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No EU trade deal is better than a bad deal? Don’t bet on it, Theresa May | Jonathan Portes
She talks blithely of ‘taking back control’. But this Brexit prime minister is about to find out just how painful divorce always is after a 40-year marriageIt’s not the beginning of the end (of Brexit) – but it’s definitely the end of the beginning. Despite the fixation in the UK on the precise date and legal niceties of the article 50 process, the most important event of the weeks to come will not be the notification itself but the EU response to it, and the politi -
French strike forces Ryanair to cancel more than 300 flights across Europe
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 -
Survey finds that 60 firms are responsible for half of world’s plastic pollution
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... -
Designer brands owed millions after Matchesfashion collapse
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 -
Barbados leader halts £3m payout to UK MP for Drax Hall plantation
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 -
Why is US threatening to ban TikTok and will other countries follow suit?
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 -
Trump to receive bonus worth $1.2bn for Trump Media stock performance
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 -
UK competition watchdog steps up scrutiny of big tech’s role in AI startups
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 -
Heineken boosts takings as zero-alcohol beers a resounding success
via express.co.ukDemand for zero alcohol beers and higher prices helped boost first quarter revenues at Heineken by 7.2 percent to €8.2billion , with volumes also increasing around the world. -
WASPI DWP compensation alert as 'further update' confirmed following damning report
via express.co.ukA recent Ombudsman report called for payouts of between £1,000 and £2,950. -
Martin Lewis says 20m Britons could make massive savings – what you need to do
via express.co.ukThe founder of MoneySavingExpert.com says that as many as 20 million people who are ‘out of contract' could make massive savings with a few simple switches. -
The AA's profits plunge but breakdown giant's boss insists progress is being made
via express.co.ukThe AA's chief executive Jakob Pfaudler says that its financial health is improving, even though its annual profits before taxes tumbling 41 percent to £42million. -
Share of electricity generated by fossil fuels in Great Britain drops to record low
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 -
Higher costs and mortgage competition sends Lloyds Banking Group's profits tumbling
via express.co.ukLloyds Banking Group's first quarter pre-tax profits have slumped 28% to £1.6billion due to increased competition in the mortgage market and higher costs. -
How soon can Tesla get its more affordable car to market?
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 -
Pensions expert shares key 'rule of thumb' to ensure stronger retirement savings
via express.co.ukEXCLUSIVE: She encouraged people to make one change in order to secure a better retirement. -
HMRC issues urgent new QR scam warning as fraudsters stealing personal details rises
via express.co.ukHMRC shared a red flag to help people identify actions that the tax authority would "never" do. -
Almost 1.5m households are missing out on major £170 saving - check if you can claim
via express.co.ukNew figures this week show that almost 1.5million households are missing out on a free TV licence - here's how you can claim -
Nigel Farage can host GB News show during election, says Ofcom
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 -
Venice access fee: what is it and how much does it cost?
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 -
'I'm a money expert - these are the food shopping tips you need to know to slash costs'
via express.co.ukFinancial journalist Claer Barrett shared two mobile phone apps she "swears by" on ITV's This Morning show today. -
Lloyds profits fall as competition for mortgages heats up
via theguardian.comPre-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 -
Matchesfashion strikes a sour note as my £902 goes missing
via theguardian.comI 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 -
Plant apocalypse: how new diseases are destroying EU trees and crops
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 -
Senate passes bill banning TikTok if parent company does not sell it
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 -
Tesla sees biggest revenue drop since 2012 but company shares still surge
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 -
England childcare scheme may struggle to deliver places, finds ‘damning’ report
via theguardian.comWatchdog 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 -
Leading UK lenders raise fixed-rate mortgage deals amid ‘market uncertainty’
via theguardian.comBorrowers 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 -
FTSE 100 is an international laggard despite its record high | Nils Pratley
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 -
What’s behind the record FTSE 100 high?
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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