Financial news

• Troubled electronics chain Maplin in talks to find buyer

  19-02-2018 22:15 via theguardian.com
  Firm says it hopes to achieve ‘a solvent sale of the business’ this weekOne of the UK’s biggest electronics retailers is racing to find a buyer in an effort to save the business from administration. Maplin, which was founded in 1972 and has more than 200 stores nationwide, is in talks with several potential buyers and hopes to strike a deal this week. Continue reading...
  
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• Most KFCs in UK remain closed because of chicken shortage

  19-02-2018 19:15 via theguardian.com
  Fast food chain blames contract with delivery firm DHL, with more than 550 outlets still shutThe fast food chain KFC has been forced to temporarily close most of its UK outlets after problems with a new delivery contract led to a chicken shortage.A total of 562 KFC outlets remained shut following a weekend of disruption that peaked on Sunday night at 646 closures.Continue reading...
  
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• London posh-home lettings hit record high

  19-02-2018 16:52
  Houses in prime areas of capital fetching up to £18,000-a-week rent as demand rises Six- and seven-bedroom houses in Notting Hill and Primrose Hill were among a record number of properties rented out at £5,000-plus a week in London last year.Upmarket estate agent Knight Frank reported the number of its “super-prime” lettings rose 34% last year to 137, from 102 in 2016. The vast majority of properties are let furnished.Continue reading...
  
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• Meat supplier Russell Hume collapses with loss of up to 300 jobs

  19-02-2018 16:23 via theguardian.com
  Administration comes weeks after firm halted production due to food standards scareMore than 260 workers have lost their jobs at the meat supplier Russell Hume, which has collapsed into administration just weeks after production was suspended following a food standards scare.Administrators announced 266 redundancies on Monday from the 302 employees at the company, which has its headquarters in Derby and operates from six production sites in Liverpool, Birmingham, London, Boroughbridge in North Y
  
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• Revealed: Cash eclipsed as Britain turns to digital payments

  19-02-2018 15:00
  Notes and coins set to fall to just 21% of sales by 2026, raising questions for those who rely on the cash economyBritain will move beyond “peak cash” this year, according to data gathered by the Guardian that suggests notes and coins are rapidly being supplanted as the favoured payment method, particularly in cities.Debit cards are set to overtake cash as the most frequently used payment method in the UK later this year, according to UK Finance, which represents leading finance and
  
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• 'People just don't carry cash nowadays': how Britons are adapting to cashless world

  19-02-2018 15:00 via theguardian.com
  As contactless payments spread, businesses, charities and social groups weigh up their optionsAs cash becomes less prominent in the UK, a range of businesses, charities and cash-dependent social groups are figuring out ways to adapt.Continue reading...
  
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• UK millennials second worst-hit financially in developed world, says study

  19-02-2018 14:31
  Resolution Foundation says young Britons have suffered biggest reversal in fortunes save for young GreeksBritain’s millennial generation, born since 1981, have suffered a bigger reversal in financial fortunes than their counterparts in most other developed countries except Greece, according to a study.The report by the Resolution Foundation paints a gloomy picture for all young adults across the developed world – apart from the Nordic countries. It highlights how incomes are depresse
  
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• Why was I fined £100 for parking in a ‘free’ Co-op car park?

  19-02-2018 08:00
  I didn’t know I had to give my car registration, and ended up with a parking charge noticeI called into my local East of England Co-op branch (in Leiston, East Suffolk) in January just before 6pm. It was dark and I parked in the middle – not on the edge –of its car park and saw no signs (though I was later told by staff there were 30!) so I didn’t realise there was a new system. When I went through checkout no one mentioned having to tap the number of your car registratio
  
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• Long-haul flights from UK now cheaper than going to Ibiza

  19-02-2018 08:00
  Weak dollar and rising prices in Spain mean it can be worth going the extra mile to get good valueFlying long haul would barely enter the thinking of many families planning their annual holiday, with the perceived cost ruling out many destinations before the search had even begun. However, this year a series of colliding events, including a weak dollar, greedy Spanish hoteliers and competition for tourists in the Middle East, means it can be cheaper to go to Florida, Dubai or Thailand than to sp
  
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• Concern for vulnerable grows as those on lifeline benefit face ‘second mortgage’

  19-02-2018 08:00
  Concern for vulnerable grows as those on lifeline benefit face ‘second mortgage’Last May, James Martin* decided to give up work and look after his mother full time after she was diagnosed with cancer. A few months later, his father suffered a stroke, leaving the 49-year-old as the main carer for both parents. With income support and carer’s allowance, he receives £108 a week, meaning that the chances of paying his mortgage every month is remote. There is some relief, in t
  
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• Small energy suppliers top uSwitch customer satisfaction survey

  19-02-2018 07:30
  ‘Big six’ companies left behind as Octopus Energy, Bulb and Utility Warehouse take first three places Two small energy suppliers have left the “big six” trailing when it comes to customer satisfaction, according to the biggest survey of its kind.The success of Octopus Energy and Bulb sends a message to larger, more established players such as British Gas and Npower that customers will look elsewhere if they do not feel they are being treated properly, said the price compa
  
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• UK DC plans move to address financial wellness for participants - Pensions & Investments

  19-02-2018 06:01
  Pensions & Investments
  UK DC plans move to address financial wellness for participants
  Pensions & Investments
  Jonathan Parker said the industry is coming closer to tailoring strategies to fit individual partic-ipant needs. Plan executives, their consultants and money managers in the nascent defined contribution market in the U.K. are embracing the fact that ...
  
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• Average price of newly marketed home rises above £300,000 again

  19-02-2018 01:01
  Rightmove reports busiest ever month and optimistic pricing but property is taking longer to sell The average price of a UK property coming on to the market has risen by more than £2,400 in a month to just over £300,000 amid evidence of “record” levels of house-hunting activity, according to Rightmove.The website, which tracks 90% of the UK property market, said the national average asking price for a home had increased by 0.8% during the past month, following the 0.7% ri
  
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