Financial news

• ‘They were little’: photos show children illegally working in US slaughterhouse

  09-05-2023 22:00
  
  Images released by US labor department show conditions over 100 children faced at Packers Sanitation Services IncorporatedHarrowing photos released by the US labor department taken at a slaughterhouse plant in Nebraska show the conditions more than 100 children faced while illegally working for Packers Sanitation Services Incorporated (PSSI) before the department cracked down on the company for violating child labor laws.The pictures show employees covered in protective gear, using chemicals to
  
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• Water chiefs not taking their mini bonuses? Hurrah for small mercies | Nils Pratley

  09-05-2023 18:55
  
  Relying on a boss’s embarrassment is a bad way to structure performance pay at utilitiesThree UK water bosses give up bonuses after anger over sewage
  Contain your excitement at news that bosses of a few water companies won’t be taking their bonuses this year. In all three cases – South West Water, Thames Water and Yorkshire Water – acceptance of any bonus at all would rightly have provoked general outrage. These firms were at, or near to, the bottom of the league table in
  
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• Skipton’s 100% mortgage for renters offers hope – but not without risk

  09-05-2023 17:19
  
  Much depends on the housing market and there’s no agreement on how that’s faring right nowWith hindsight, one of Britain’s biggest building societies could definitely have picked a better day to launch a first-of-its-kind 100% mortgage.On Tuesday morning, just as the press release was being sent out and Skipton building society boss Stuart Haire was preparing for his BBC Radio 4 Today programme interview, the Halifax reported that average UK house prices fell in April, by 0.3%
  
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• Elizabeth Holmes is rebranding herself as a sweet, devoted mother. Will anyone buy it? | Arwa Mahdawi

  09-05-2023 14:46
  
  The Theranos founder and convicted fraudster used a New York Times profile as a shameless PR exercise. If only other female convicts were given a first chance – let alone a secondMeet Liz Holmes. She is a devoted mother of two little kids who loves nothing more than family outings to the zoo, walking her dog, and talking to her husband in a very normal voice that is absolutely nothing like the weird baritone her evil alter ego, Elizabeth, affected.You remember Elizabeth Holmes, don’t
  
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• Sainsbury’s cuts prices of own-label bread and butter

  09-05-2023 14:34
  
  Move by UK’s second-largest supermarket raises hopes that food inflation will start to come downSainsbury’s has cut the price of its own brand bread and butter, in what some are seeing as a sign that soaring food price inflation will start to come down in the coming months.The UK’s second-largest supermarket chain said it had lowered the price of its soft white medium, wholemeal medium, wholemeal thick, and toastie white loaves of bread to 75p, which is a reduction of 11%. Cont
  
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• Food banks are taking over from the welfare state, warns Gordon Brown

  09-05-2023 13:48
  
  Former Labour PM, writing in the Observer, calls for action as charities increasingly take over role of social security systemFood banks are increasingly “taking over from the welfare state”, former Labour PM Gordon Brown has warned, amid growing concerns that lack of state support is forcing them into a permanent role in fighting poverty.With food banks increasingly warning that even working people are seeking help, a new “multibank” model is now emerging to help familie
  
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• The 2023 federal budget in 60 seconds (for young people) – video

  09-05-2023 13:25
  
  With the cost of living and inflation rocketing, many are looking to treasurer Jim Chalmers to see how the federal budget will help Australia’s most vulnerable. But let’s be honest, you mostly want to know what’s in it for you, right? Guardian Australia cadet journalist Rafqa Touma explains what the budget holds for young people and those doing it tough► Subscribe to Guardian Australia on YouTubeJim Chalmers' 2023 federal budget delivers surprise $5bn Medicare boost and c
  
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• Annual UK house price growth slows to lowest level in more than a decade

  09-05-2023 11:07
  
  Property values in south of England fall most, while West Midlands records strongest growthBusiness live – latest updatesAnnual house price growth across the UK has slowed to the lowest level in more than a decade, with property values in the south of England under the greatest pressure.The lender Halifax said average prices in April were 0.1% higher than the same month a year ago, the lowest rate of growth since December 2012 and down from March’s annual growth rate of 1.6%. Continu
  
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• Annual UK house price growth hits 10-year low, as southern England comes under pressure – business live

  09-05-2023 10:01
  
  UK house prices rose in annual terms by just 0.1% in April, the smallest increase since December 2012, mortgage lender Halifax reportsThe slowdown in the UK housing market has hit Marshalls, the gardens, driveways and roofing products company.Marshalls reported this morning that like-for-like sales have fallen by 14% so far this year, with trading weaker than anticipated.In the first quarter of the year, National House Building Council new housing starts were 27 per cent lower than 2022, which h
  
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• Budget 2023: what exactly happens inside the federal budget lock-up? – politics with Amy Remeikis

  09-05-2023 05:17
  
  It starts with a tree, the budget tree, and when its leaves begin to turn journalists around the country know the budget – also known as political nerd Christmas – is just around the corner. Soon after, they're locked up without phones or access to the internet and they're not freed until the treasurer takes to the floor of the parliament to deliver the budget speech► Subscribe to Guardian Australia on YouTubeAustralia budget 2023 live updates: federal treasurer Jim Chalmers to
  
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• Why ‘godfather of AI’ Geoffrey Hinton thinks humanity at crossroads | podcast

  09-05-2023 04:00
  
  His work is at heart of AI revolution, but in an interview with the Guardian’s Alex Hern, Hinton says he now fears the advances he helped usher in could pose an existential threat to humankindThe 75-year-old’s researcher has helped lay the foundations for the revolution in artificial intelligence, but now Geoffrey Hinton is worried. His work on neural networking – building computer systems that can learn from data and experience – has been at the heart of recent advanceme
  
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• UK shoppers cut spending amid pressure on Bank of England over inflation

  09-05-2023 01:01
  
  Sluggish retail sales and credit card spending figures add to fears for British economyConsumers are cutting back on purchases amid growing pressure on the Bank of England to tame inflation.Retail sales increased 5.2% on a like-for-like basis in April compared with the same period a year earlier, according to data from the British Retail Consortium and the consultancy KPMG. Continue reading...
  
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• About 700,000 UK households missed rent or mortgage payment last month

  09-05-2023 01:01
  
  Which? figures show Britons struggling with loans, cards and bills as interest rates and inflation soarAn estimated 700,000 UK households missed or defaulted on a rent or mortgage payment last month, according to data issued days before another expected rise in the cost of borrowing.Missed housing payments were “particularly high” among renters, said Which?, the consumer body that issued the figures, affecting one in 20 tenants surveyed. Continue reading...
  
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