Financial news

• Airplane with world's longest wingspan takes flight, beating Spruce Goose record

  13-04-2019 23:18 via theguardian.com
  Stratolaunch jet, brainchild of late Microsoft co-founder Paul Allen, may be used to launch small satellites into spaceA giant six-engine aircraft with the world’s longest wingspan – surpassing Howard Hughes’ infamous Spruce Goose – took off from California on its first flight on Saturday.The behemoth, twin-fuselage Stratolaunch jet lifted off from Mojave Air and Space Port and climbed into the desert sky 70 miles north of Los Angeles. It landed two hours later. Continue
  
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• The private renters trapped in Britain’s new slums

  13-04-2019 22:00 via theguardian.com
  Years of austerity have driven the poorest into squalid, crumbling homes. Can this cycle be broken?The stark human cost of Britain’s decade-long austerity drive, welfare reforms and warped housing priorities can be glimpsed in 11 decaying flats carved from what was once a grand Victorian terrace home in Weston-super-Mare.These bay-fronted houses were most likely thrown up in the Somerset resort’s 19th-century building boom, which carpeted the reclaimed marshland behind the windswept
  
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• Not enough babies? Not enough state support for families

  13-04-2019 18:00 via theguardian.com
  When governments withdraw from child-friendly policies, their citizens are, unsurprisingly, more reluctant to procreateWhen a baby is conceived there are usually three parties involved, and one of them is the government.Without financial and other kinds of support from the state, people are more reluctant to have children, according to official statistics. It’s a phenomenon seen across the developed world since the 1990s, when direct state intervention appears to have taken over from a mor
  
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• The problem with Debenhams – it’s not just indebted, it’s dull

  13-04-2019 17:00 via theguardian.com
  The store chain needs to cut outgoings. But it also needs a revamp of its dated fashion offering if it is to flourish againShoppers of all ages pile on to escalators below a cheery neon sign reading “Hello Brum”. They later head for tills where the lines are long enough to require a member of staff with a sign reading “the queue starts here”.This is Primark’s new store in Birmingham, where it is possible to dine in at least five restaurants, get your hair restyled a
  
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• Milk and honey: an unusual conversion in east London

  13-04-2019 17:00
  An old dairy in Hackney has been given a new lease of life as a home and thriving venueThe Old Dairy, as it’s known, has seen a variety of inhabitants over the years. These range from cows that used to graze on Hackney Marshes to carpet-makers, squatters, skateboarders and, most recently, Florence and James Kennedy, who live there with their two-year-old daughter, Clover, and a Great Dane named Huxley. Tucked between rows of Victorian terraced houses in east London’s Clapton, the bui
  
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• Disney prepares to strike back at Netflix

  13-04-2019 17:00 via theguardian.com
  Streaming service Disney+, launching in the US in autumn, is gambling billions on being able to see off a rival that already has 150 million subscribers worldwideThe fan frenzy surrounding the freshly released teaser for Star Wars: Episode IX – The Rise of Skywalker serves as a timely reminder of Disney’s omnipotence at the box office. Now it is setting its sights on the small screen as well, by tackling global leader Netflix in the battle of the streaming services.The company is ban
  
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• Council tax debts in England soar 40% in six years

  13-04-2019 16:54 via theguardian.com
  Charities say ‘huge issue’ of arrears is now as big a problem as credit card debtsCouncil tax debts in England have soared by nearly 40% in six years, Guardian research has found, with charities warning these arrears now rival credit card debts as their biggest concern.Amid warnings that “heavy-handed” collection tactics are putting severe pressure on those already in financial difficulty, households face a fourth consecutive year of above-inflation council tax rises as l
  
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• The middle class: does size really matter?

  13-04-2019 12:00
  Alarm over the ‘shrinking’ middle class hides a more important truth about the state of income inequality The middle class might be developing a bit of a complex about its size. After all, rarely a month goes by without a headlines about how it is “shrinking”. Sometimes the preferred verb is “hollowing out”, but that doesn’t sound too great either.The latest shrinkage alert comes from the OECD, in a new report showing that the middle class now accounts f
  
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• Smart speakers: five ways to get one on the cheap

  13-04-2019 10:15
  Want to dip your toe in the voice-controlled world of Amazon’s Alexa and Google’s Assistant? Here are best, cheapest ways to startSales of smart speakers are soaring despite some people’s concerns over privacy, with Amazon’s Alexa leading the charge into homes in various Echo devices and Google’s Home and Assistant snapping at its heels.They come in various shapes, sizes and prices, but if you just want to dip your toe into the burgeoning voice-powered world, what&r
  
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• Number spoofing: more Metro Bank users say they were robbed of thousands

  13-04-2019 08:45 via theguardian.com
  Last week we featured a NatWest account holder who lost £10,000. A raft of new victims have now come forward telling the same storyMore Guardian Money readers have come forward to say they too have been scammed by fraudsters who “spoofed” their bank’s phone number. In some cases they have lost more than £40,000.Two weeks ago Money featured Jane Holden, a Cambridge businesswoman who lost £90,000 after falling for a highly sophisticated fraud. She had taken a ca
  
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• Why are families forced out as equity release firms make a killing? | Patrick Collinson

  13-04-2019 08:00 via theguardian.com
  After her mother died, a daughter was given just one month to pack up and leave the family homeWhen June died at the age of 98 a few weeks ago, it was a painful time for her bereaved daughter, Rosemary. She had moved in eight years earlier to care for her mother, and now had to arrange the funeral, as well as sort out all the paperwork such as the will and death certificates.What she didn’t reckon on was a repossession demand from an equity release company to clear the house of everything
  
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• Premium economy: is it worth the extra expense?

  13-04-2019 08:00 via theguardian.com
  Not to be confused with a halfway house to business class, we run a rule over what to expect when you upgrade BA upgrade: ‘We paid a lot and feel totally ripped off’Premium economy can be a spacious and relatively luxurious way to fly long-haul. Or it can be a pinched and overpriced experience that leaves you feeling ripped off. So how much extra do you have to pay, and what do you really get for your money?When we polled industry experts, Virgin Atlantic and Air New Zealand were nam
  
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• 'It has a real buzz': how the new high street is bucking the trend

  13-04-2019 08:00 via theguardian.com
  Chorlton, Great Manchester, is thriving with a mix of businesses backed by an independent ethos and community spiritThe woes of the British high street were highlighted again this week by figures that showed chain stores were closing their doors at the fastest rate in at least nine years.A net 2,481 stores, banks and other high street businesses disappeared from Britain’s top 500 high streets last year, 40% more than in 2017, according to PricewaterhouseCoopers research compiled by the Loc
  
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• BA upgrade: ‘We paid a lot and feel totally ripped off’

  13-04-2019 08:00 via theguardian.com
  The Marsdens paid to ease the strain on a 10-hour return trip. Instead, they got a flight from hell Premium economy: is it worth the extra expense?Is it worth spending £1,000 to upgrade a basic flight ticket to a seat in premium economy? Not if you are on a British Airways flight from Costa Rica to London, according to one Guardian Money reader angry at the quality he got for his money.Keith Marsden and his wife spent £1,940 to upgrade to premium economy for a trip to South America.
  
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• Facebook spent $22.6m to keep Mark Zuckerberg safe last year

  13-04-2019 06:54 via theguardian.com
  Security costs for the tech billionaire and his family more than doubled last year, as an outcry over Facebook’s practices grewFacebook more than doubled the money it spent on top executive Mark Zuckerberg’s security in 2018 to $22.6m, a regulatory filing has showed.Zuckerberg drew a base salary of $1 for the past three years, and his “other” compensation was listed at $22.6m, most of which was for his personal security. Continue reading...
  
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• What should I use to make my lawn grow and kill moss?

  13-04-2019 01:00 via theguardian.com
  I’ve heard of products such as Mo Bacter and Miracle Gro, but I’m not sure if they workEvery week a Guardian Money reader submits a question, and it’s up to you to help him or her out – a selection of the best answers will appear in next Saturday’s paper.Our lawn looks awful as it has become more moss than grass and I’m wondering what to do about it. Products such as Mo Bacter and Miracle Gro promise to kill the moss and promote grass growth – but do the
  
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