Financial news

• Couples need pension pot of £131k to live comfortably

  18-06-2023 23:01 via express.co.uk
  
  EXCLUSIVE: An analysis report by Which? reveals couples would need a private fund of £131,000 to live comfortably whereas a single pensioner will need £182,400.
  
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• Church of England vicars demand pay rise to cope with cost of living crisis

  18-06-2023 23:00
  
  C of E clergy and lay staff represented by Unite ask for 9.5% increase in first ever claim Church of England vicars have become the latest group of workers to demand a pay rise in the face of the cost of living crisis, as Unite’s general secretary, Sharon Graham, claimed they were among the “working poor”.More than 2,000 clergy and lay staff represented by the union have submitted their first ever official pay claim, asking for a 9.5% rise in the annual stipend, which stands at
  
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• Social media sites failing to curb ‘cottage industry’ of fake reviews, Amazon says

  18-06-2023 18:27
  
  Online retailer that blocked 200m reviews last year claims some platforms slow to act even when given evidenceShoppers are being deceived because social media platforms and messaging apps are not doing enough to prevent a “cottage industry of fraudsters” soliciting fake reviews, according to Amazon.Fake reviews have become one of the most persistent scourges of online retailers, and some analysts think that about one in seven reviews in the UK are not the real deal, with blame often
  
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• ‘I feel like I’ve missed out’: has working from home thrown the gen Zs out with the water cooler?

  18-06-2023 17:00
  
  The decline of the daily commute has been good for most but entering the workforce without ever working in an office can be challenging Get our weekend culture and lifestyle emailAt university, Farhana Ismail was drawn to design research for its human touch. She was especially looking forward to the field research and face-to-face interviews she’d conduct after graduating from her communications degree.But months after, when Covid-19 sent her home city of Melbourne into years of rolling lo
  
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• EU countries accuse TfL debt collectors of breaching data protection laws over London penalty fines

  18-06-2023 16:00
  
  Belgium and Dutch vehicle licensing agency say citizens’ details obtained unlawfullyto issue driving fines Two EU countries have accused Transport for London’s debt collection agency of breaching data protection laws to obtain the names and addresses of citizens in order to issue fines for driving in the capital.Motorists from across Europe have been hit with penalties, some totalling thousands of pounds, for driving in London’s Ultra Low Emissions Zone (Ulez). Penalty notices
  
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• Owners of the most polluting cars to pay double for parking across England

  18-06-2023 14:00
  
  Lambeth council in London is latest to introduce emissions-based fees, with similar charges expected to be widely introduced Owners of the most polluting cars may soon have to pay more to park as councils across England are expected to roll out new charges based on a vehicle’s CO2 emissions.Lambeth is the latest council in London to introduce emissions-based parking fees, with similar charges now expected elsewhere in England. Owners of the most polluting cars can expect to pay more than t
  
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• ‘It could be taken down by an enthusiastic child’: Whitehall wide open to cyber-attack, warn campaigners

  18-06-2023 13:00
  
  TaxPayers’ Alliance says HMRC, health department and atomic energy authority all use old servers that make them vulnerableGovernment departments responsible for running health and social care, and for collecting taxes, are using outdated software that leaves them wide open to cyber-attacks, according to a disturbing new investigation.The use of “legacy” servers and databases has been uncovered through freedom of information (FoI) requests from the low-tax pressure group the Tax
  
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• How to get started with investing

  18-06-2023 13:00
  
  From paying off larger debts to making small but regular investments, here is the way forwardWhile interest rate rises put pressure on mortgage borrowers on variable rates or those coming to the end of fixed-rate deals, they do bring some good news for savers. The trouble is, interest earned on those savings is still nowhere near inflation, currently at 8.7%. If you are looking to save for the future, then, it is wise to consider investing in ways that will let your money earn more for you. But
  
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• As mortgage rates surge, the Tories are losing their reputation for economic competence | Larry Elliott

  18-06-2023 12:39
  
  The party is tearing itself to pieces as terrified borrowers face a new age of insecurityAn economic crisis was quietly brewing last week while the Conservative party was tearing itself to pieces over Boris Johnson’s misleading of parliament. Fears about the tough measures that might be needed to bring down inflation sent mortgage rates surging towards 6%.Even without the disgrace of the former prime minister, this would be a government in serious political trouble staring at electoral mel
  
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• As mortgage rates surge, the Tories are losing their reputation for economic competence

  18-06-2023 12:39
  
  The party is tearing itself to pieces as terrified borrowers face a new Age of InsecurityAn economic crisis was quietly brewing last week while the Conservative party was tearing itself to pieces over Boris Johnson’s misleading of parliament. Fears about the tough measures that might be needed to bring down inflation sent mortgage rates surging towards 6%.Even without the disgrace of the former prime minister, this would be a government in serious political trouble staring at electoral mel
  
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• Retired British woman volunteering in Ukraine has bank account shut by Lloyds

  18-06-2023 12:00
  
  Former social worker now helping in Kherson says her account was closed after missing a text messageA retired social worker who has spent the past year doing humanitarian work across Ukraine – frequently dodging missiles and other attacks – was left with no access to her pension or life savings after Lloyds Banking Group, possibly fearing she was a sanctions risk, shut her bank account.Fiona Hancock and her partner, Robert Paliwoda, have been working as volunteers helping women and c
  
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• Tax burden rockets to new high with Britons set to work half the year for HMRC

  18-06-2023 11:00 via express.co.uk
  
  Today is Tax Freedom Day, which marks the first day of the year when Britons start working for themselves. We've spent the first 169 days of the year toiling for HM Revenue & Customs instead and it's going to get worse.
  
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• Mortgage crunch and house price crash horror looms as inflation sticks at 8.5% in May

  18-06-2023 10:11 via express.co.uk
  
  The latest consumer price inflation figure will be published on Wednesday and it heralds disaster for the mortgage market as it will be almost as high as April's shock figure.
  
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• ‘Secrets of the side hustle’: Man shares hobby that helps him earn up to £5,000 a month

  18-06-2023 10:01 via express.co.uk
  
  After being out of work for the best part of a year during the pandemic, a man has shared how his passion has allowed him to earn up to £5,000 each month.
  
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• Millions are facing soaring mortgage rates. How did we leave them so vulnerable? | Will Hutton

  18-06-2023 10:01
  
  Homeowners in Britain are especially at risk because of a shortage of long-term loans. The sooner the Bank of England acts to fix this the betterThere is a cross-party consensus that Britain as a property-owning democracy should promote home ownership. To that end, 7.5 million people hold a record £1.7tn of mortgage debt. Yet that debt is more exposed to short-term movements in interest rates than in any other advanced country – placing millions of households in danger of extreme pri
  
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• Deprived UK towns still feeling benefits of Tony Blair’s anti-poverty fund

  18-06-2023 10:00
  
  Futurebuilders England Fund doubled economic output of some areas and improved deprivation levels by up to 17%A long-term anti-poverty fund created during the government of Tony Blair doubled the economic output of some local areas and improved deprivation levels by up to 17%.The Futurebuilders England Fund gave £142m in loans and other financing to 406 charities and enterprises in England from 2004 to 2010. Continue reading...
  
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• Mortgage ‘catastrophe’ will lose us the election, warn Tory MPs

  18-06-2023 09:00
  
  Members in marginal seats fear Conservative party leaders have not understood the impact of rate risesTory MPs in marginal seats are already sounding the alarm over an “interest rate catastrophe”, amid claims that the party has not understood the impact of spiralling mortgages.With the Bank of England likely to increase interest rates again this week and major mortgage lenders raising their own rates in the last few days, there is a growing nervousness among Tories about the impact t
  
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• Death from overwork: young Koreans rebel against culture of long hours

  18-06-2023 07:00
  
  Hard graft is ingrained in South Korean society, but when the state proposed a 69-hour week, it was forced to back down as millennials and gen-Zers reject traditional working practices• Photographs by Tina Hsu‘Working during my holidays and weekends became a routine,” says Lee Sang-hyuk as he describes the culture of overtime at the large pharmaceutical company he used to work for near Seoul. “I gradually realised that my life and health were deteriorating due to excessive
  
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• Mortgage warning as expert shares 'best advice' for homeowners facing 'huge increases'

  18-06-2023 05:01 via express.co.uk
  
  Homeowners looking to remortgage this year are warned they face ‘considerable increases' in their mortgage payments, which could place a further strain on their finances.‌
  
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• From pensions and ISAs to property, the ‘important’ IHT rules for married couples

  18-06-2023 05:01 via express.co.uk
  
  From tax exemptions and gifts to pensions and ISAs, Express Money spoke to inheritance tax experts to find out the rules for married couples.
  
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• State pensioners urged to take action as thousands miss out on £1,900 a year income boost

  18-06-2023 05:00 via express.co.uk
  
  Tens of thousands of pensioners are missing out on a large income boost as they are not claiming Pension Credit, a charity boss has told Express.co.uk in an exclusive interview.
  
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• Sunak, Hunt and homebuyers brace for an economic Big Wednesday

  18-06-2023 01:05
  
  The midweek inflation bulletin could be the most significant piece of government data published this yearThis Wednesday will mark the longest day of the year and not long after the sun comes up the Office for National Statistics (ONS) will publish its latest cost of living bulletin. To say the data is eagerly awaited is an understatement. There is unlikely to be a more significant piece of official data released in the current parliament.The reason is simple. Despite raising interest rates 12 ti
  
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