Financial news

• Daily Telegraph and Sunday Telegraph newspapers to be put up for sale

  07-06-2023 20:10
  
  Barclay family have lost control of crown jewel media assets in bitter row with newspaper group’s lenderBusiness live – latest updatesThe Daily and Sunday Telegraph are to be put up for sale in a deal that promises to reshape the media landscape after the Barclay family lost control of their crown jewel media assets in a bitter row over nearly £1bn of unpaid debts.The Bank of Scotland has appointed the firm AlixPartners as official receiver, to seize the shares owned by the Bar
  
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• Woking council declares bankruptcy with £1.2bn deficit

  07-06-2023 20:01
  
  Previous Tory leadership embarked on risky investment spree involving hotels and skyscrapersBusiness live – latest updatesWoking council has declared it is in effect bankrupt after admitting a risky investment spree involving hotels and skyscrapers overseen by its former Conservative administration had left it facing a deficit of £1.2bn.In what is thought to be the biggest financial failure in local government history, the Surrey council said it had issued a section 114 notice on Wed
  
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• Pressure grows on UK energy suppliers to cut market-peak tariffs for small firms

  07-06-2023 19:25
  
  EDF and British Gas offer lower rates for small businesses trapped in fixed contractsEnergy companies are under growing pressure to allow thousands of struggling businesses to change their gas and electricity contracts after two major suppliers agreed to cut rates that had been fixed at the height of the energy crisis.EDF has agreed to offer new deals to 15,000 small and medium businesses that are trapped in long-term contracts fixed when energy market prices reached a historical peak last year.
  
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• Millions are eligible for tax-free DWP benefit but aren't aware they can claim it

  07-06-2023 17:34 via express.co.uk
  
  Pension Credit is significantly underclaimed, but it can boost an eligible recipient's income by thousands of pounds.
  
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• UK banks to reimburse fraud victims under new rules, regulator confirms

  07-06-2023 16:17
  
  Requirement to refund people who have been tricked by scammers will be implemented in 2024Business live – latest updatesBanks will be required to reimburse fraud victims who have been tricked into sending money to scammers under rules to come into force next year, a regulator has confirmed.The requirements for banks and other payment companies unveiled by the Payments Systems Regulator (PSR) are designed to ensure more consumers will get a refund if they fall victim to the phenomenon, know
  
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• State pensioners with arthritis could be eligible for benefit worth up to £5,300 a year

  07-06-2023 15:58 via express.co.uk
  
  Attendance Allowance is supporting nearly 400,000 state pensioners suffering from arthritis in the UK.
  
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• Best savings rates 2023: Top 10 easy access accounts paying high interest now

  07-06-2023 14:38 via express.co.uk
  
  Some easy access accounts are paying interest rates of up to four percent.
  
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• Jeremy Hunt expresses concern about cost of living crisis after OECD forecast

  07-06-2023 13:52
  
  Chancellor responds to news UK likely to avoid recession but will have one of highest inflation rates among G20Business live – latest updatesThe UK chancellor, Jeremy Hunt, has expressed concern about the persistence of Britain’s cost of living crisis after an influential international body predicted the country would have one of the highest inflation rates in the developed world this year.While the Organisation for Economic Co-operation and Development raised its forecast for UK gro
  
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• Majority of BoE chiefs responsible for interest rate hikes don't have mortgages to pay off

  07-06-2023 13:25 via express.co.uk
  
  On a salary of almost half a million pounds a year, Governor Andrew Bailey has no monthly mortgage repayments keeping him up at night.
  
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• Heathrow security staff to strike on almost every weekend this summer

  07-06-2023 12:44
  
  More than 2,000 workers at London hub will strike for 31 days from June to August in row over payBusiness live – latest updatesSecurity staff at Heathrow airport will strike for 31 days this summer after the Unite union announced fresh action over pay.More than 2,000 officers will strike, affecting almost every weekend from June to August, in what the union described as a “major escalation”. Continue reading...
  
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• NatWest issues scam warning as dad left with 'no chance of a house' after losing £100,000

  07-06-2023 12:10 via express.co.uk
  
  NatWest urges Britons to "double-check" the website URL and contact details of a firm on companies house before investing any money into a business after a man lost his life savings.
  
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• Dragons' Den stars slammed business as ‘worthless’ but it’s now sold for £12million

  07-06-2023 12:03 via express.co.uk
  
  The dragons were disappointed when the sample product broke and thought it could easily be copied by a competitor.
  
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• 'Brilliant' pensions tax break could save you thousands but millions don’t know it exists

  07-06-2023 11:15 via express.co.uk
  
  The ability to take 25 percent of your pension savings as tax-free cash can save thousands yet incredibly, almost half of over-55s don't know it's an option.
  
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• Nationwide Building Society offers ‘highly competitive’ 4.75% on fixed rate savings

  07-06-2023 11:14 via express.co.uk
  
  The Nationwide Fairer Share Bond is "exclusively" for existing members only as part of their commitment to valuing their customers.
  
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• Cybercrime gang hits BA, Boots and BBC with ultimatum after mass hack

  07-06-2023 10:58
  
  Russian-speaking Clop group demands ransom negotiations after stealing data of thousands of staffExplainer: Who is behind the attack and what happens next?British Airways, Boots and the BBC have been hit with an ultimatum from the Russian-speaking cybercrime group Clop to begin ransom negotiations after it stole personal details of more than 100,000 staff across the organisations.The demand, posted on Clop’s darkweb site, commands the affected companies to email the group by 14 June, or fa
  
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• Inflation predictions show Britons will continue to face soaring prices

  07-06-2023 10:29 via express.co.uk
  
  Britons continue to face soaring prices for everyday needs with inflation at 8.7 percent in the year to April.
  
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• Savers fight back as banks reveal another 432 branch closures - and it's paying off

  07-06-2023 10:21 via express.co.uk
  
  Savers are fighting back against the endless closures of local bank and building society branches by staging a silent but powerful protest. They're making money out of it, too, exclusive new Express.co.uk research shows.
  
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• Pension savers warned of withdrawal ‘implications’ leaving over 55s paying more to HMRC

  07-06-2023 10:08 via express.co.uk
  
  Pension savers are warned they may be hit with costly tax bills if they withdraw too much from their pensions.
  
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• UK house prices experience annual fall for first time in decade, data shows

  07-06-2023 09:35
  
  Price of average home in May was 1% lower than in same month last year, according to Halifax figuresUK house prices have experienced their first annual fall in more than a decade, according to Halifax, in a sign that the impact of soaring interest rates on household budgets has brought a halt to the country’s long housing boom.The cost of the average home last month was 1% lower in May than in the same month last year, marking the first time that prices have fallen year-on-year on the lend
  
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• Petrol and diesel engines are dying technology. The electric car age is inevitable | Ben Lane

  07-06-2023 08:00
  
  Arguments over the green credentials of electric cars are already over. Work on 21st-century tech, and leave the past behindBen Lane is co-founder and CTO at Zapmap, a UK-wide map of electric car charging pointsIt should by now be clear to all vehicle manufacturers and policymakers that the electric vehicle (EV) age is all but inevitable. Most drivers already get it, as shown by the huge order books for most electric models. The long-running fight over whether electric or petrol/diesel engines g
  
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• I fear I’m being priced out of my home by Lambeth’s 350% energy price rise

  07-06-2023 08:00
  
  I’m a pensioner who has lived here since the estate was built in 1977, but now I’m having to pay an extra £76 a weekI am a 77-year-old pensioner who has been a tenant of Lambeth council in London since my estate was built in 1977. We brought up our family here, and my husband died here, but I feel I am being priced out of my home by a 350% increase in the communal heating and hot water charges the council is applying. Coupled with the rise in rent and service charges, it means
  
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• Strong endorsement of the CBI or display of corporate apathy? Impossible to tell

  07-06-2023 07:00
  
  Support from a 93% majority of voters sounds impressive but is not necessarily so when the CBI will not reveal the turnout“I’m deeply grateful for the faith shown in us by our members,” declared Rain Newton-Smith, director general of the CBI. OK, nobody is going to quibble with a 93% majority for the overhaul plan. But, tell us, what was the turnout? What percentage of CBI members voted in the poll?That is the point at which the “voice of business” falls silent. It
  
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• Parades but no public posts: which brands are supporting Pride in the wake of backlash?

  07-06-2023 07:00
  
  As Target, Bud Light, Starbucks and others face threats and boycotts, here’s what other top US brands have plannedIn recent years, Pride month has served as an opportunity for global brands to demonstrate their inclusivity – marching in parades, touting support for LGBTQ+ causes and blanketing merchandise in rainbow flags.In the past, that’s led to concerns over “rainbow-washing”: corporations shrewdly supporting LGBTQ+ communities in more liberal territories for ma
  
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