Financial news

• LTNs can only work with decent public transport | Letter

  25-04-2023 19:13
  
  Here in Marston, Oxford, buses are scarce and unreliable, and the imposition of low-traffic neighbourhoods feels like a punishment, writes Joanna BagniewskaAs an ecologist and a keen cyclist who has never owned a car, I should, in theory, be overjoyed by the introduction of low-traffic neighbourhoods to my city (What prompted my U-turn on LTNs? I realised I was on the same side as Laurence Fox, 17 April). In practice, my experiences with this innovation have been trying.I live in Marston, a part
  
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• Record UK borrowing puts Jeremy Hunt in dilemma over tax cuts | Larry Elliott

  25-04-2023 17:56
  
  The chancellor has to weigh tax giveaways against unprecedented government borrowing ahead of looming electionsUK government borrowed £13bn less than expected last yearIn only three years since modern records began in 1946 has the government borrowed more than was required to balance the books in the latest financial year. Even taking account of inflation, £139bn is a lot of money.Predictably enough, that was the message from Jeremy Hunt after the release of the latest data for the p
  
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• Record £4.8bn interest added to student debt in Britain last year

  25-04-2023 17:33
  
  Figure more than doubled in a year, as interest rate in England and Wales hit 6.3% in line with government capRishi Sunak’s government has more than doubled the amount of money it makes from charging interest on student loans, official figures show, as graduates face borrowing costs of almost twice the rate set by the Bank of England.According to the latest snapshot of the public finances from the Office for National Statistics, accrued interest on student loans swelled to £4.8bn in
  
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• Britons ‘need to accept’ they’re poorer, says Bank of England economist

  25-04-2023 17:09
  
  Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wagesBritish households and businesses “need to accept” they are poorer and stop seeking pay increases and pushing prices higher, the Bank of England’s chief economist, Huw Pill, has said.Pill said a game of “pass the parcel” is taking place in the economy – as households and companies try to pass on their higher costs. Continue readi
  
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• Duke of Westminster’s property firm pays £50m dividend despite profits drop

  25-04-2023 15:02
  
  Boss of Grosvenor, which owns swathes of Mayfair and Belgravia, warns of ‘more pain’ for commercial property marketProfile: London property baron born with ‘longest silver spoon’The Duke of Westminster’s property company, which owns swathes of London’s exclusive Mayfair and Belgravia districts, has paid out a £50m dividend despite falling profits.The boss of Grosvenor, the duke’s £11.5bn property empire, warned of a period of stagflation and
  
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• Britons with prepay meters urged to use vouchers as £160m goes unclaimed

  25-04-2023 12:00
  
  Households with analogue meters have until 30 June to claim discounts of up to £400 on energy costsMinisters have urged households using prepayment meters to redeem vouchers offering support for their energy bills, as the government said £160m remained unclaimed.Households with traditional analogue prepayment meters are entitled to claim discounts of up to £400 on their energy costs under the energy bills support scheme, which is open until 30 June. Continue reading...
  
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• Britons turn to stores’ bargain ranges as grocery price inflation stays above 17%

  25-04-2023 11:58
  
  Cost of living squeeze continues, led by price rises for eggs, milk and cheese, say analysts KantarShoppers increasingly turned to supermarkets’ cheapest own-label products as grocery inflation remained above 17% over the past month, keeping the pressure on already strained household finances.Sales of the very cheapest value own-label lines jumped 46% in the four weeks to 16 April, compared with a year earlier, dropping in to nearly one in five baskets as consumers sought to make savings.
  
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• They wield huge power over your day-to-day life, without consent or oversight. Who are they? Asset managers | Brett Christophers

  25-04-2023 11:00
  
  We need to shine a spotlight on the acquisition of such basics as housing, schools and water networksAsset managers are key figures in your life, although you may not be aware of it. These investment firms are mostly recognised for their ownership of financial assets such as stocks and bonds. But as well as owning financial assets, in recent decades they have been buying huge volumes of so-called “real assets”, which in many cases represent necessities of everyday life such as housin
  
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• Shoot ’em up! California’s retro games arcades – in pictures

  25-04-2023 08:00
  
  From Pac-Man to pinball, French photographer Franck Bohbot transforms the neon chaos of amusement arcades into stunning works of artContinue reading...
  
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• Our £1,500 Furniture Village sofa has led to nothing but discomfort

  25-04-2023 08:00
  
  It was damaged and after five attempts to fix it, the store now says it is costing it too muchTwo years ago we placed an order for a £1,500 sofa at our local Furniture Village store. After being delayed for more than three months, it arrived with a large, noticeable scratch on one of the sofa arms, and various holes and marks across the back of the sofa, and the firmness of the seats did not match. We reported this to the company on the same day it arrived.Since then, the company has sent
  
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• Traffic congestion and rail closures to disrupt UK bank holiday travel

  25-04-2023 07:00
  
  RAC predicts biggest getaway on roads since 2016, and west coast mainline will be partly closedDrivers and train passengers have been warned they face congestion and disruption over the bank holiday weekend, with motoring organisations forecasting the biggest early May getaway for seven years and a main rail line partly closed.The RAC said it estimated 17.2m leisure trips would be taken by car in the UK between Friday 28 April and Monday 1 May, the most for the May bank holiday since 2016. Conti
  
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• Major tech firms face hefty fines under new digital consumer bill

  25-04-2023 01:01
  
  Global companies like Google, Apple and Amazon could have to pay penalties of up to 10% of their global turnover as government gives competition watchdog more powerMajor tech firms face the threat of multibillion-pound fines for breaching consumer protection rules under new legislation that will tackle issues including fake online reviews and subscriptions that are difficult to cancel.The digital markets, competition and consumers bill will empower the UK’s competition watchdog to tackle t
  
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• Cost of living payment worth £301 to be issued from today - are you eligible?

  25-04-2023 01:01 via express.co.uk
  
  The cost of living has skyrocketed recently, but a new round of Government payments could help.
  
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