Financial news

• Bank account closures: what new rules mean for UK customers

  20-07-2023 21:01
  
  Under Treasury proposals, lenders will have to explain why they shut accounts and give 90 days’ noticeNatWest apologises to Farage over Coutts account closureAnalysis: Farage affair is ‘a PR disaster’ for CouttsFollowing the furore over the closure of Nigel Farage’s accounts at the exclusive private bank Coutts, the government has introduced new rules intended to clamp down on “unfair bank account closures”.Alison Rose, the chief executive of the bank’s
  
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• Higher prices for UK’s offshore wind can’t be avoided

  20-07-2023 20:14
  
  Inflationary pressures on supply chains mean we must pay more, via our energy bills, for new windfarmsWelcome to the next little crisis in the UK energy world: the offshore windfarm industry is being blown off course. No, not because of the cost of leasing seabed plots from the crown estate. Rather, an inflationary gale is blowing through supply chains, upsetting the old and comforting notion that the cost of getting the turbines spinning always falls in real terms.The decision by Vattenfall to
  
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• Hope for homebuyers as rates fall on UK fixed mortgage deals

  20-07-2023 14:10
  
  Small drops in average rates for two- and five-year fixed mortgages follow easing of inflation rate in JuneBorrowers received a glimmer of good news after average rates on new two- and five-year fixed mortgages fell for the first time since May.News of the small falls came 24 hours after it was announced that UK inflation fell further than expected in June, which immediately prompted speculation that the Bank of England would not raise interest rates by as much as previously expected. The pricin
  
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• Make your price labels clearer, watchdog tells UK supermarkets

  20-07-2023 12:28
  
  CMA says stores not stoking food inflation as it looks into competition on key categories such as milk and baby foodSupermarkets must make prices clearer, the UK’s competition watchdog has said after finding that confusing labels were preventing shoppers from getting the best deals.Food retailers and their suppliers will be subject to a detailed investigation into competition in 10 product categories including milk, bread, and baby formula as part of efforts to ensure households benefit fr
  
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• Exceedingly good news? Mr Kipling owner says UK food inflation has peaked

  20-07-2023 09:31
  
  Premier Foods reports 21% rise in sales but pledges no more price rises this yearThe maker of Mr Kipling cakes, Oxo cubes and Bisto gravy granules has said it believes recent food cost inflation has peaked, and it is not planning any more price rises for its food products for the rest of the year.The news came as owner Premier Foods reported a 21% increase in sales in the first quarter of the financial year, compared with a year earlier. Continue reading...
  
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• Ebay refused my refund after fraudster’s Nintendo no-show

  20-07-2023 08:00
  
  The seller seems to have used an old tracking number to suggest my order had been deliveredIn March this year I purchased a £60 Nintendo Switch console on eBay. It never arrived. The Royal Mail tracking number shows a delivery in August 2022 – seven months before I placed the order – to an address in the Midlands. I suspected that the seller had fraudulently applied a previously used tracking number to suggest that the order had been delivered. EBay’s money back guarantee
  
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