Financial news

• JP Morgan claims US Virgin Islands ‘complicit’ in Jeffrey Epstein crimes

  23-05-2023 22:31
  
  Counter lawsuit comes after territory alleged bank ‘facilitated’ exploitation of women and girls by sex offenderJP Morgan Chase claimed that the government of the US Virgin Islands is “complicit in the crimes of Jeffrey Epstein” in a legal filing on Tuesday, saying the convicted sex trafficker maintained a “quid pro quo relationship” with some of the territory’s highest officials over two decades.The claim comes as part of an ongoing legal tussle that be
  
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• Netflix crackdown on password sharing reaches the UK

  23-05-2023 21:11
  
  Streaming company tells millions of British subscribers that the service can no longer be used free by other householdsNetflix has begun its crackdown on the millions of UK subscribers who share their passwords with friends and family who live outside of their household.The streaming company has sent a letter to almost four million British subscribers that it has identified as giving friends and family members outside their home free access. Continue reading...
  
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• IMF’s anti-tax cut stance may give Rishi Sunak cover to resist Tory right

  23-05-2023 19:38
  
  UK ministers will use improved forecast to claim plans are working – but IMF also urged more action to protect vulnerable peopleJeremy Hunt was quick to welcome the International Monetary Fund’s improved economic forecasts. Britain was now on track for the lowest rate of growth outside a recession in the postwar era. Still, it was a “big upgrade” from the Washington-based fund compared with a month ago, the chancellor said.In its annual article IV health check on the Brit
  
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• Dave Ramsey explains how woman, 64, with £45,000 savings can get by in retirement

  23-05-2023 16:46 via express.co.uk
  
  Dave Ramsey reassured a 64-year-old woman that she "will be okay," despite having to work through her retirement because she has little saved.‌
  
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• Fraudsters conned UK holidaymakers out of more than £15m in 2022

  23-05-2023 16:44
  
  Action Fraud notes surge in number of people paying for fake flights and accommodationHoliday fraudsters conned UK consumers out of more than £15m last year – twice as much as the year before – according to the UK’s scam reporting centre.Action Fraud said there had been a surge in the number of people being conned into paying for fake flights and accommodation bookings as more people sought cheaper holidays, partly as a result of the cost-of-living crisis. Continue readin
  
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• Global watchdog calls for UK to regulate crypto in same way as stocks and bonds

  23-05-2023 16:43
  
  Iosco recommendation runs counter to MPs’ stance that cryptocurrency trading should be treated as form of gamblingThe global markets watchdog has urged the UK to regulate cryptocurrencies in the same way as traditional assets such as stocks and bonds, countering MPs’ calls last week for the risky investments to be treated as a form of gambling.The International Organization of Securities Commissions (Iosco) – an umbrella group of regulators from 130 jurisdictions – made t
  
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• From CPI to stagflation: how the UK tracks price rises and what key inflation terms mean

  23-05-2023 16:00
  
  All the methods of cost of living calculations come with benefits and limitationsOn its website the Bank of England has a tool allowing users to find out how prices have changed ever since King John was on the English throne back in 1209. By its calculations, goods and services costing £10 six years before Magna Carta was sealed would today cost £16,427.96.With the latest cost of living figures due out on Wednesday morning, Threadneedle Street’s ready reckoner puts the UK&rsquo
  
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• DWP confirms when to expect £150 cost of living payment but stark warning issued

  23-05-2023 15:51 via express.co.uk
  
  People on certain disability benefits are to get the £150 next month but several charities have said more needs to be done.‌
  
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• 'Go to hell, Shell': climate protesters disrupt oil company's annual meeting – video

  23-05-2023 15:23
  
  Shell's annual shareholder meeting in London has descended into chaos with more than an hour of climate protests delaying the start of the meeting in which the oil company asked investors to reject new targets for carbon emissions cuts. At one point, security staff rushed to the front of the meeting to shield the board as protesters tried to approach the stage. Scuffles broke out as security removed the protestersShell AGM disrupted by protests as it tries to reject new emissions targetsUniversi
  
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• Barclays customer 'devastated' after losing £30,000 home deposit to fraudsters

  23-05-2023 15:18 via express.co.uk
  
  The Barclays customer became just one of the growing number of victims to fall for this scam last year, losing over £30,000.
  
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• Upcycling and ‘it bags’: how Uniqlo’s British boss aims to make it bigger in Britain

  23-05-2023 15:00
  
  Alessandro Dudech, the young executive in charge of the Japanese label’s UK expansion, aims to offer coffee, florists and a clothing repair service, all in-houseAged just 34, Alessandro Dudech has grown up at Uniqlo, where he started as a graduate trainee and is now charged with making the Japanese clothing retailer a British household name.The Italian only took on the position as head of Uniqlo’s UK business a year ago, just as the pandemic began to ease, but has already opened thre
  
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• State pension and Universal Credit payment dates are changing this week

  23-05-2023 14:03 via express.co.uk
  
  People may receive their state pension and Universal Credit payments early this week.
  
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• Yorkshire Building Society offers market-leading interest on easy access ISA

  23-05-2023 13:47 via express.co.uk
  
  Easy access ISA accounts are offering some of the highest interest rates seen in decades, and this includes an offer from Yorkshire Building Society.
  
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• The post-console future: where Xbox is looking for its next big hit

  23-05-2023 13:38
  
  Microsoft is betting on winning business with its subscription service, Game Pass, and looking beyond markets in western Europe and east AsiaMicrosoft has been in the video game business for over 20 years, but its Xbox console has been the perpetual runner-up. 2020’s Xbox Series S/X console is being significantly outsold by Sony’s PlayStation 5 – in keeping with its predecessor, 2013’s Xbox One, which was outsold more than 2:1 by the PlayStation 4. It’s currently su
  
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• Bank closures in your area MAPPED: Check if your local branch is shutting its doors

  23-05-2023 12:58 via express.co.uk
  
  In 2023, over 400 bank branches have closed or will close around the country. A total of 397 are shutting their doors in England, 37 in Wales, 20 in Scotland and five in Northern Ireland.
  
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• Grieving family scammed out of £4,000 which was meant for scattering late mum's ashes

  23-05-2023 12:34 via express.co.uk
  
  The family arranged the payment via messages with a legitimate email address but only realised later scammers had been monitoring the exchange and had stolen their money.
  
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• Barclays and HSBC among banks closing 400 branches - see if your local branch is closing

  23-05-2023 12:31 via express.co.uk
  
  More than 400 bank branches will be closing for good this year as more customers take business online instead.
  
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• UK food price inflation at third-highest level since 2008

  23-05-2023 11:52
  
  Jeremy Hunt to meet food manufacturers over prices as Kantar says rate is still ‘incredibly high’UK food price inflation remains at its third-highest level since the financial crisis, with the annual rate at which the cost of groceries is increasing at the elevated level of 17.2%, retail industry data shows.Prices barely eased during the four weeks to 14 May to only marginally below April’s 17.3% figure, according to the latest release from the analytics firm Kantar, representi
  
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• ‘Why should anyone be hungry when there’s food that can be given away?’ The heroes feeding their neighbours

  23-05-2023 11:00
  
  More than 13 million Britons do not have enough to eat. Here are four people who are trying their hardest to help, from an ex-soldier in Peterborough to a community centre manager in County Derry‘We’ve just had the king’s coronation and people are still going hungry. What’s that about?” Food charity founder Cocoa Fowler speaks with the passion of someone who daily bears witness to an increasing number of people struggling to feed themselves and their families.Hunger
  
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• You could avoid paying large inheritance tax bill - 'some already call it voluntary tax'

  23-05-2023 10:46 via express.co.uk
  
  More Britons are becoming liable to pay inheritance tax with the latest receipts for the 40 percent tax at £100million higher compared to last year.‌
  
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• POLL: Should state pension be increased to a minimum of £320 a week?

  23-05-2023 10:22 via express.co.uk
  
  A campaign group for senior citizens in the UK has called for a £320 minimum state pension to ensure older Britons have sufficient income without having to rely on Pension Credit.
  
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• The little-known London train ticket that could save you Eurostar hassle

  23-05-2023 08:00
  
  The London CIV rail ticket could be the missing link for passengers delayed for their train through no fault of their ownTwo weeks ago I caught a train from Stafford to London Euston that was due to arrive at lunchtime – in time to catch the Eurostar to Brussels two hours later.However there was a fatality on the line at Rugby, and all trains were cancelled going into London on the west coast mainline. I ended up having to change my ticket from St Pancras to Brussels, at a cost of £1
  
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• Private renters ‘almost twice as likely to struggle with debt as UK general population’

  23-05-2023 07:00
  
  Charity says stronger protections are needed or people will be left vulnerable to ‘hair-trigger evictions’Private renters are almost twice as likely to be struggling with problem levels of debt as the general population, with a sharp rise in the numbers in serious financial difficulty since January, research shows.The figures come against a backdrop of private rents in the UK hitting record highs, and days after the government announced a shake-up of the sector to tackle the “i
  
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• What will we eat in a post-1.5C world? – podcast

  23-05-2023 06:00
  
  We now know that global temperatures are likely to temporarily rise by more than 1.5C above pre-industrial levels in the next five years. Breaching this crucial threshold will give humanity an insight into what the next few decades could bring. It will undoubtedly have serious consequences in all aspects of our lives, including what we eat.In the second of our special series of episodes looking at what a future world might look like, science editor Ian Sample explores how our diets could change
  
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