Financial news

• 27 million homes to benefit from £450 energy bill cut in weeks – and it's just the start!

  19-05-2023 23:23 via express.co.uk
  
  EXCLUSIVE: Experts predict gas and electricity bills are set to drop this summer with the fall kick-started by Ofgem slashing its price cap this Thursday.
  
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• Hyundai and Kia settle lawsuit worth $200m over vehicle theft due to TikTok

  19-05-2023 22:44
  
  A trend on the app, which started spreading in 2021, challenged users to steal cars made by the automakers using a USB cableHyundai and Kia have agreed to settle a consumer class-action lawsuit worth $200m over rampant thefts of the vehicles because of a TikTok trend.In February, the Korean automakers said they would offer software upgrades to 8.3m US vehicles to help curb a stark increase in thefts using a method popularized on TikTok and other social media channels. Continue reading...
  
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• Barclays to shut another 12 bank branches this year - check if your branch is closing

  19-05-2023 19:45 via express.co.uk
  
  Barclays said it is closing another series of branches as there is no longer enough demand for in-person services.
  
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• A cracking price for supermarket eggs? | Letters

  19-05-2023 18:52
  
  Waitrose defends its payments to farmers; Mark Doel advises people to support their nearest independent trader; Wal Callaby explains why eggs have become so expensiveYour article (Why are eggs so expensive? Here’s what a farmer and 14,000 hens told me, 18 May) wrongly includes Waitrose in a list of supermarkets that don’t pay egg farmers a price that reflects their costs. We most certainly do. The cost of feed is the biggest element of volatility in farmers’ costs and we update
  
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• PIP and DLA claimants can get free driving lessons - check if you are eligible

  19-05-2023 17:52 via express.co.uk
  
  Applicants will be assigned a case manager who will check their eligibility for the grant.
  
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• Thousands of current account holders need to move money as accounts close

  19-05-2023 15:48 via express.co.uk
  
  The first raft of the account closures is to take place from August.
  
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• Energy bills could fall to average of £2,053 as Ofgem prepares to lower cap

  19-05-2023 14:55
  
  But campaigners say it will not give much relief to struggling households as government support endsHousehold energy bills could fall to an average of £2,053 a year this summer as the regulator prepares to lower its cap on energy prices next week, according to analysts.However, campaigners have warned that the lower cap on energy bills, to be announced on Thursday, is unlikely to provide much relief to households that struggled to pay their bills over the winter because the government&rsqu
  
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• Fraudster jailed for running multimillion-pound website iSpoof

  19-05-2023 14:28
  
  Tejay Fletcher’s site offered tools allowing criminals to make phone calls that appeared to be from trusted companiesThe mastermind behind an online fraud shop used to con victims out of more than £100m has been jailed for more than 13 years.Tejay Fletcher, 35, bought a £230,000 Lamborghini, two Range Rovers worth £110,000 and an £11,000 Rolex after making about £2m from the iSpoof.cc website. He was the founder and leading administrator of the site, which was
  
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• Cheddar or bougie brie? How inflation has hit your cheese sandwich options

  19-05-2023 13:30
  
  Ann Widdecombe may not sympathise in any case, but rising costs have not affected all butties equallyMore than half of us are worried about the rising cost of eating, as food prices rise at their fastest rate since 1977.But that did not stop Ann Widdecombe landing herself in a pickle on Tuesday by suggesting people who could not afford cheese sandwiches should simply forgo them. Continue reading...
  
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• Nationwide to pay £340m of profits directly into customers’ accounts

  19-05-2023 09:28
  
  The first comes as jump in deposits and interest rates drives earnings up 40% to record highsNationwide will pay £340m directly into customer accounts for the first time, after a jump in deposits and higher interest rates drove annual profits up 40% to record highs.Britain’s biggest building society has tended to use profits to offer better rates on savings, loans and mortgages for its members but on Friday it launched an inaugural programme that will distribute funds directly to cus
  
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• Homes for sale close to the sea – in pictures

  19-05-2023 08:00
  
  From a modern clifftop property with spectacular views out of wraparound windows to an end-of-terrace former hotel Continue reading...
  
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• UK households with communal heating facing 350% rise in energy costs

  19-05-2023 07:00
  
  Surge in energy costs filtering through to low-income households on shared heat networksLambeth council tenants ‘in precarious position’ after 350% service charge rise Residents in council homes and private flats with communal heating systems are experiencing a “nightmare” rise in their energy bills, with households scrambling to fund increases of up to 350%.An estimated 480,000 households nationwide are affected, according to government data, as the impact of last autumn
  
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• Lambeth council tenants ‘in precarious position’ after 350% service charge rise

  19-05-2023 07:00
  
  Price hikes of up to £300 a month for communal heating and hot water driven by rapid increase in energy costsUK households with communal heating facing 350% rise in energy costsPeter Shapcott is sitting in his council flat in Brixton, south London. As he examines the bills that have come out of his bank account, he hovers his computer mouse over a screen showing how much money is left. The 67-year-old, who is terminally ill, has been paying his rent through credit in his account from overp
  
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• Food prices will soon overtake energy in driving UK inflation, report predicts

  19-05-2023 01:01
  
  Resolution Foundation says it is not clear that politicians are prepared for another year of food price risesThe rising cost of food will overtake the price of energy as the driving force behind inflation over the summer, hitting poorer households the hardest, a leading thinktank has forecast.Grocery bills that had rocketed by almost 20% during the past year would continue to increase, replacing energy prices that were expected to begin falling over the next few months, the Resolution Foundation
  
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