Financial news

• Relief at last as Hunt mortgage help shields owners from repossessions

  23-06-2023 23:00 via express.co.uk
  
  People crippled by soaring bills can switch to interest-only mortgages or extend their loans.
  
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• Rihanna steps down as chief executive at her Savage X Fenty lingerie brand

  23-06-2023 22:12
  
  Music star will hand over reins of company she founded five years ago to Hillary Super, formerly of Anthropologie GroupMusic star Rihanna is stepping away from the chief executive role at her lingerie brand, Savage X Fenty, five years after she created it and has announced a fashion executive to take her place.Rihanna named Hillary Super, the former chief executive of the US fashion, home and beauty company Anthropologie Group, as the new CEO of her underwear venture, as first reported by Vogue
  
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• Mortgage 12-month grace period: what’s in it for you?

  23-06-2023 19:40
  
  A charter has been struck between the chancellor and Britain’s biggest lenders in a bid to stave off a wave of repossessionsStruggling homeowners are to be given a 12-month grace period before their home is repossessed as part of a new “mortgage charter” struck between Jeremy Hunt and Britain’s biggest lenders after this week’s shock interest rate rise.No home will be repossessed within 12 months of the first missed payment.Customers can seek advice from their lende
  
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• Pensioners could get their council tax bill paid in full – check your eligibility

  23-06-2023 19:30 via express.co.uk
  
  Council Tax Support is a benefit to help people who are on a low income or claiming certain benefits to pay their Council Tax bill.
  
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• The Guardian view on the Reddit rebellion: a historic standoff | Editorial

  23-06-2023 19:25
  
  An attempt to erect a paywall on the social media platform raises big questions about the ownership of data and the future of the webTo those who have never got round to cultivating a Reddit habit, reports that swathes of the news aggregation, content and discussion platform have been plunged into darkness may merit nothing more than a shrug. But as one of the most visited websites in the world, its fate is significant.The blackout is the result of a standoff between the company’s co-found
  
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• Why are UK banks taking so long to pass higher interest rates on to savers?

  23-06-2023 18:36
  
  Delay is under intense scrutiny from City watchdog – but it may not just be simple profiteeringActivists, campaigners and MPs are growing increasingly concerned that savings rates are failing to keep pace with the rapid rise in borrowing costs, putting the behaviour of the UK’s biggest banks in the spotlight.While worries are mounting about how mortgage holders will cope with higher interest rates, less focus has been put on savers. This group is often frustrated when mortgage rates
  
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• Mortgage pressures will not tip UK into wave of repossessions, FCA says

  23-06-2023 18:36
  
  After a meeting between Jeremy Hunt and bankers at No 10, Nikhil Rathi says there will be ‘no repeat’ of 2008Mounting mortgage pressures will not tip Britain into the tidal waves of repossessions witnessed in recent financial crises, the head of the City watchdog insisted after an emergency meeting with the chancellor and bankers at No 10.Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), said that while households were increasingly worried about how to cope
  
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• Beyoncé grant helps Nigerian tapas restaurant in London

  23-06-2023 18:11
  
  Chuku’s in Tottenham received £8,000 from BeyGood Foundation, which pledged $1m to businesses near world tour venuesSquishy rectangles of bean moi moi, warmly spiced egusi stew and rice pancakes topped with savoury-sweet pumpkin and peanut – these are among the Nigerian dishes that deserve a greater showing in the UK’s culinary repertoire, and Beyoncé is here to help.They count among a host of Nigerian specialities on the menu at Chuku’s in Tottenham, which h
  
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• Mortgage crisis: UK lenders agree to 12-month grace period on repossessions

  23-06-2023 16:07
  
  Measure among three to emerge from meeting to help struggling households after sharp rate hikeBusiness live – latest updatesStruggling mortgage holders will be given a 12-month grace period before their repossession proceedings begin, in an agreement between Jeremy Hunt and Britain’s biggest lenders.The chancellor held a meeting with Britain’s biggest banks and building societies on Friday to ask if they could do more to support households facing a sharp rise in monthly payment
  
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• British Gas summer scheme offers half-price electricity on Sundays

  23-06-2023 15:53
  
  Use applies between 11am and 4pm and runs until 24 September for customers joining PeakSave planBritish Gas is offering its customers half-price electricity every Sunday this summer to shave millions of pounds from energy bills – but only for those willing to carefully schedule their cooking, housework and video gaming.The UK’s biggest energy supplier said it would charge electricity use between 11am and 4pm on a Sunday at half the usual rate from this Sunday until 24 September for a
  
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• UK chancellor Jeremy Hunt meets lenders as mortgage crisis deepens – business live

  23-06-2023 13:53
  
  Hunt calls large lenders including HSBC and Santander to Downing Street to discuss what they can do to support struggling householdsTwo-year fixed mortgages remain unchanged following the Bank of England’s shock half-point base rate rise to 5% yesterday.According to the financial data firm Moneyfacts, the average two-year fixed residential mortgage is 6.19%. The average five-year fix is 5.83, up a tick from 5.82% yesterday. Continue reading...
  
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• Warm weather pushes up retail sales in Great Britain as people turn to outdoor goods

  23-06-2023 13:48
  
  Rise of 0.3% in May comes as separate survey shows UK services company sales grew this monthWarmer weather and online bargains drove a surprise increase in retail sales in May after City forecasts predicted the cost of living crisis would persuade consumers to be more restrained.Retail sales in Great Britain rose 0.3% last month after a 0.5% increase in April, continuing a bounce in spending since the beginning of the year that points to a return of consumer confidence after last September&rsquo
  
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• Mortgage crisis: UK lenders’ meeting with Jeremy Hunt ‘very productive’

  23-06-2023 13:38
  
  It is unclear as to whether banks and building societies have agreed to extra help for struggling householdsBusiness live – latest updatesBanking bosses said a meeting with Jeremy Hunt in Downing Street on Friday was “very productive” as the chancellor attempts to quell the growing crisis in the mortgage market sparked by rapidly rising interest rates.Hunt held the meeting to ask banks and building societies if they could do more to support struggling households after the Bank
  
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• Britons warned their will may not be valid even if it has been written out correctly

  23-06-2023 09:47 via express.co.uk
  
  A person's will must be put in writing but there are other rules that have to be followed for the document to be legally binding.
  
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• Homes for sale near lidos – in pictures

  23-06-2023 08:00
  
  From historic bathing ponds in London to art deco pool in Cornwall fed by sea water Continue reading...
  
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• Why more employee-owned businesses could mean fewer strikes | Dame Sharon White

  23-06-2023 07:00
  
  There are 1,300 companies in the UK, including John Lewis, that give their members a stake in the organisationHospital consultants are the latest group of workers to ballot for strike action. In the past year, the UK has lost 3.7m working days to strikes; largely public sector workers such as nurses, junior doctors and railway workers but private sector workers at the likes of Amazon and Heathrow too.The Office for National Statistic reckons that strikes have depressed growth in the economy. Peo
  
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