Financial news

• UK pensions reform could unlock £4.6trillion to boost British economy and improve returns

  24-05-2023 18:43 via express.co.uk
  
  UK pension reform could uncover a £4.6trillion investment into the British economy to help with the cost of living crisis.
  
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• Brexit food trade barriers have cost UK households £7bn, report finds

  24-05-2023 17:34
  
  LSE researchers estimate that extra barriers on EU food imports have pushed up bills by £250 on averageBritish households have paid £7bn since Brexit to cover the extra cost of trade barriers on food imports from the EU, according to researchers at the London School of Economics (LSE).The university’s latest report estimating the impact of leaving the bloc on UK food prices found that trade barriers were consistently hampering imports, pushing up bills by an average £250.
  
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• Millions will face fuel poverty despite Ofgem move to cut energy price cap

  24-05-2023 17:17
  
  Crisis ‘far from over’, warn campaigners as an estimated 6.5m households across Great Britain will still struggle to pay billsThe energy regulator Ofgem is poised to announce a lower cap on energy bills on Thursday, making gas and electricity cheaper across Great Britain, but the reduction will still leave an estimated 6.5m households in fuel poverty.Under Ofgem’s price cap, which will take effect from July, the average gas and electricity bill will fall from £2,500 a yea
  
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• State pension inheritance explained: What happens to your pension when you die

  24-05-2023 15:57 via express.co.uk
  
  Widowers may be able to increase or inherit the state pension of their loved ones depending on the date of their marriage/civil partnership.
  
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• The areas where monthly nursery fees cost more than rent – MAPPED

  24-05-2023 15:53 via express.co.uk
  
  In seven towns across the UK, putting just one child in daycare is over £100 more expensive per month than putting a roof over their head.
  
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• Martin Lewis urges Britons to check now as man discovers £137,000 boost

  24-05-2023 14:59 via express.co.uk
  
  A man managed to track down his lost pension after following a tip from Money Saving Expert founder Martin Lewis.
  
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• Tell us: have you entered into an individual voluntary arrangement (IVA)?

  24-05-2023 14:10
  
  We want to hear from those who have got an IVA with or without a debt management company in the UKWe’re keen to hear from people who have entered into a form of personal insolvency called an individual voluntary arrangement (IVA). These legally binding agreements with creditors let a person pay an agreed monthly amount over a period of usually five or six years. At the end, as long as the agreement hasn’t been broken, any remaining debts are written off.We want to hear from those who
  
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• Tell us your experiences of communal heating price rises in the UK

  24-05-2023 13:17
  
  If you use communal heating, we would like to hear your experiences of recent price changesResidents in council homes and private flats with communal heating systems are experiencing steep rises in their energy bills of up to 350%. An estimated 480,000 households in the UK are affected, according to government data.If you use communal heating, we would like to hear your experiences of recent price changes. How have you been affected? Continue reading...
  
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• Britain isn't a nation of slackers – we're on the clock 24/7 and we deserve the 'right to disconnect' | Owen Jones

  24-05-2023 13:14
  
  Imagine your boss being fined for calling you after hours. In some European countries, that’s already a reality, and Labour wants us to follow suitThe idea of a clear demarcation between work and life is, for most people, an absurd joke: your life is being invaded, and you have no line of defence to protect yourself. Even if they are thousands of miles from their desk, a worker may still feel chained to it. Text messages and emails can arrive at ungodly hours, demanding prompt replies. Par
  
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• Failure to grasp UK inflation drivers will continue to keep prices high

  24-05-2023 12:35
  
  Energy prices have fallen, and farming and manufacturing costs have eased, so why are food prices still accelerating?UK inflation falls by less than expectedUK inflation: which goods and services have risen most in price?Business live updates: latest newsInflation is falling, but not as fast as everyone hoped. The Bank of England expected a bigger drop and so did the majority of City analysts.A fall in the consumer prices index (CPI) to 8.7% in April from 10.1% in March put an end to the UK&rsqu
  
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• Pensioners get £7,000 a year as annuity rates soar - and money back if they die

  24-05-2023 11:44 via express.co.uk
  
  It's a long time since annuities paid £7,000 a year, but that's what pensioners can get now as rates continue to rise
  
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• Cost-of-living crisis getting worse as soaring food prices beef up inflation

  24-05-2023 10:23 via express.co.uk
  
  Inflation fell to 8.7 percent in April but let's not get carried away. The cost-of-living crisis is nowhere near over.
  
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• UK inflation drops but food prices rise 19% with sugar, olive oil and milk soaring – business live

  24-05-2023 10:19
  
  Rolling, live coverage of business, economics and financial markets as analysts expect drop in consumer price index inflationUK inflation dropped to 8.7% in the year to April, the first time it has dropped below 10% since August and the lowest since March 2022.Yet that steep fall – long expected because of the big increase in energy prices in April 2022 – has not all been happy news. It was less dramatic than expected by economists.Sugar 47.4%Olive oil 46.4%Eggs 37%Low-fat milk 33.5%
  
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• Energy firm SSE reports near doubling of annual profits

  24-05-2023 10:11
  
  Soaring energy market prices boosted revenues from Perth-based firm’s fossil fuel power plantsSSE has reported a near doubling of its annual profits compared with the year before after soaring energy market prices led to a boom for its fossil fuel power plants.The Perth-based company said its adjusted pre-tax profits climbed to £2.18bn for the 12 months to the end of March, up from almost £1.16bn the year before. Continue reading...
  
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• ‘Worthless’: Chevron’s carbon offsets are mostly junk and some may harm, research says

  24-05-2023 10:00
  
  Exclusive: investigation finds energy giant’s efforts to offset its huge emissions rely on schemes with little impactA new investigation into Chevron’s climate pledge has found the fossil fuel company relies on “junk” carbon offsets and “unviable” technologies, which do little to offset its vast greenhouse gas emissions and in some cases may actually be causing communities harm.Chevron, which reported $35.5bn in profits last year, is the US’s second-larg
  
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• My travel insurer was inhumane after my father-in-law’s death

  24-05-2023 08:00
  
  Eurostar and Churchill refused a refund after he died in FranceMy partner and I travelled to the south of France in December to spend Christmas with my father-in-law. We were taking our newborn twins to meet him for the first time. When we arrived at his flat in Perpignan, he didn’t answer the door. We had to break a window to gain entry, whereupon we discovered his dead body. It was a gruesome experience involving the fire brigade, police, coroner and lots of bureaucracy.The funeral was s
  
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• It seems there are only two modes of billionaire: deathly dull or unstoppably cringe | Joel Golby

  24-05-2023 08:00
  
  What would you buy if you were richer than God? Surely something cooler than an eerie statue of your girlfriend for the prow of your yachtI’m always disappointed by the outer reaches of my own imagination when I sit and idly wonder about myself as a rich person. For some reason “having a full-sized pool table” is always involved. Three holidays a year, that sort of thing. Maybe fly first-class. Maybe learn to drive, maybe have a chauffeur, I can’t decide. I think I would
  
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• UK students pledge ‘career boycott’ of insurers over fossil fuels

  24-05-2023 07:00
  
  Hundreds of students and graduates vow not to work for ‘climate wreckers that insure those responsible for the climate crisis’Hundreds of students and recent graduates of top UK universities are pledging a “career boycott” of major insurers, saying they will not work for firms including Lloyd’s of London if they support controversial fossil fuel projects.More than 500 current and recent students from the University of Oxford, University of Cambridge, University Coll
  
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• Property management firms that rip off leaseholders could be banned under Labour

  24-05-2023 07:00
  
  Exclusive: clampdown flagged as part of wider leasehold overhaul for England and Wales being considered by partyProperty management companies would be banned from operating in England and Wales if they persistently ripped off leaseholders, under plans being considered by Labour.Lisa Nandy, the shadow housing secretary, is looking at proposals to clamp down on the sector, amid complaints from leaseholders about escalating fees and essential maintenance being left undone. Continue reading...
  
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• OpenAI leaders call for regulation to prevent AI destroying humanity

  24-05-2023 07:00
  
  Team behind ChatGPT say equivalent of atomic watchdog is needed to guard against risks of ‘superintelligent’ AIsThe leaders of the ChatGPT developer OpenAI have called for the regulation of “superintelligent” AIs, arguing that an equivalent to the International Atomic Energy Agency is needed to protect humanity from the risk of accidentally creating something with the power to destroy it.In a short note published to the company’s website, co-founders Greg Brockman a
  
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• Recycled plastic can be more toxic and is no fix for pollution, Greenpeace warns

  24-05-2023 06:01
  
  Campaign group says plastics are incompatible with circular economy as countries prepare for treaty talksRecycling plastic can make it more toxic and should not be considered a solution to the pollution crisis, Greenpeace has warned before the latest round of negotiations for an international plastics treaty.“Plastics are inherently incompatible with a circular economy,” the global environmental network said in a report that brings together research showing recycled plastics are more
  
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• Virgin Orbit ceases operations months after failure of UK space mission

  24-05-2023 04:50
  
  California-based company will fold after selling off its assets and filing for bankruptcy in the USVirgin Orbit, the satellite launch company founded by British billionaire Richard Branson, will permanently cease operations, just months after a major mission failure.The California-based firm, which had already filed for Chapter 11 bankruptcy protection in the United States in early April, has auctioned off its main assets, recovering just over $36m. That figure is barely 1% of the value the comp
  
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• With DeSantis campaign event, Musk seeks to shore up a sinking Twitter

  24-05-2023 02:03
  
  The social network has floundered since the tech billionaire took over – political live streams may give the platform relevanceThe news that Ron DeSantis will launch his presidential campaign during a live Twitter appearance with Elon Musk marks the tech billionaire’s latest attempts to shore up engagement with the social network at a moment of crisis for the company.The event – which will take place Wednesday on Twitter Spaces, a live stream feature that is often broadcasted a
  
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• Staff work in central London offices for 2.3 days a week, study finds

  24-05-2023 01:01
  
  Thinktank warns against wholesale switch to working from home and raises fears over lost productivity in capitalOffice workers in central London are spending on average 2.3 days a week in the workplace, according to a report that warns against a wholesale switch to working from home.The thinktank Centre for Cities carried out polling of office workers in the capital and found they were spending 59% of the time in their workplace compared with pre-Covid levels. Continue reading...
  
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