Financial news

• Top tech firms commit to AI safeguards amid fears over pace of change

  21-07-2023 21:43
  
  Joe Biden announced Meta, Amazon and OpenAI among others had agreed to eight measures to encourage responsible practicesTop players in the development of artificial intelligence, including Amazon, Google, Meta, Microsoft and OpenAI, have agreed to new safeguards for the fast-moving technology, Joe Biden announced on Friday.Among the guidelines brokered by the Biden administration are watermarks for AI content to make it easier to identify and third-party testing of the technology that will try t
  
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• Private equity pioneer Guy Hands to leave Terra Firma ‘when I’m 64’

  21-07-2023 19:08
  
  Dealmaker and ardent Brexit critic to leave senior posts at firm he founded more than 20 years agoPrivate equity tycoon Guy Hands referenced a Beatles song as he informed staff of his decision to leave the buyout firm he founded two decades ago.The billionaire dealmaker told staff on Friday he would leave the posts of chairman and chief investment officer at Terra Firma Capital Partners in August, drawing to a close a high-profile, chequered career. Continue reading...
  
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• Why UK holiday destinations are going to the dogs | Letters

  21-07-2023 18:32
  
  Kevan Ogden and Philippa Wadsworth on the blight of dog-friendly places, and the difficulty of trying to avoid themLottie Gross says that she loves Northumberland “for its vast open beaches” (20 of the best dog-friendly places to stay in the UK, 15 July). She’s not alone. We spend a lot of time on and around those beaches and are becoming increasingly dog-grumpy over what now feels like a canine invasion.The article says that our “beaches and their dunes are dog‑fri
  
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• Going green does not cost the Earth | Letter

  21-07-2023 18:31
  
  Many green actions are free or money-saving, yet people still refuse to take them, says Charles Harris I’m sorry to see Gaby Hinsliff buying into the old line that a green vision is too expensive (An inconvenient truth: you can’t sell the green revolution to people who can’t afford it, 20 July). On the contrary, I ask: “How can we sell a green vision to those who can easily afford it?” Many green actions are free or money-saving, yet people still refuse to take them
  
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• I'm priced off the road because of my age | Letter

  21-07-2023 18:30
  
  At 92, in excellent health and never having had an accident, Colin Leys has been quoted up to £7,000 for motor insuranceI am curious to know whether my experience of being priced off the road by insurance companies on account of my age (92) is shared by other readers. I am lucky enough to be in excellent health with no disabilities and have never had an accident. I was insured through Age UK, but I have just been informed by their insurer that they will not renew my insurance, with no reas
  
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• Soap sales halve as UK shoppers cut back on hygiene products

  21-07-2023 18:10
  
  Handwash and bubble bath sales also fall in first six months 2023, with cost of living blamedShoppers in Britain are shunning soap and other personal hygiene products, with leading supermarkets reporting a drop in sales of the items amid the cost of living crisis.Figures from Britain’s leading supermarket chains show demand for soap fell by 48% in the first six months of 2023 compared with the same period last year. Continue reading...
  
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• UK visitor numbers up amid signs of shift away from mainland Europe’s extreme heat

  21-07-2023 16:37
  
  Tourism to UK close to pre-Covid levels as Czech Republic, Ireland and Denmark also leap in popularityWhere once holidaymakers flocked south for the summer in search of scorching getaways, the climate emergency may be signalling a reversal of that trend.It seems some tourists are shunning continental Europe, where temperatures are soaring to as high as 48C in the current heatwave, in favour of Britain’s cooler climes. Continue reading...
  
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• Martin Lewis ‘busts' common Premium Bonds 'myths' and shares tips to win 'more'

  21-07-2023 16:16 via express.co.uk
  
  Money Saving Expert founder Martin Lewis told BBC 5Live listeners they could win "substantially more" with top ISAs and savings accounts than with NS&I Premium Bonds.
  
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• MPs must close loophole to drive out dirty money from UK property | Arun Advani, Anna Powell-Smith and Andy Summers

  21-07-2023 15:50
  
  With legislation to tackle hidden ownership delayed until autumn, the job must not be half-doneAs MPs head into their summer break, some vital legislation is being delayed until autumn.One important piece of unfinished business is the economic crime and corporate transparency bill (ECCTB). Although its name is rather a mouthful, it is clear about the intentions: this bill takes an important step forward in the fight against dirty money and the crimes it enables. Continue reading...
  
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• Tories and big business are in the driver's seat on climate action. Here’s what the left must do | Richard Power Sayeed

  21-07-2023 15:03
  
  If the market decides, eco-friendly policies will meanruinous inequality. There’s an old-fashioned solution: social democracyEarlier this week, 100-odd energy companies sent a letter warning the prime minister that his lack of new climate policies will threaten their profit margins. Then, the Cop26 president, Alok Sharma, announced a new attempt to end the de-facto ban on onshore wind energy in England, and Liz Truss backed him.Neither of these calls made a huge splash in the news, because
  
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• India’s ban on rice exports raises fear of global food price rises

  21-07-2023 14:57
  
  Attempt to curb domestic inflation behind country’s decision on non-basmati white riceIndia has banned non-basmati white rice exports to curb domestic inflation, raising fears of further increases in global food prices just days after wheat and corn prices were sent climbing by Russia’s termination of a key grain deal.The immediate ban, introduced after heavy rains hit domestic crops, follows the failure of a 20% duty on international exports introduced in September to curb foreign d
  
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• Interest rates for savers surge in 'surprise shift' - how you can take advantage

  21-07-2023 14:35 via express.co.uk
  
  Interest rates on savings accounts are now exceeding six percent, making now a "good time" to invest.
  
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• Simpler menus, less meat and closing for lunch: how UK restaurants are adapting to tough times

  21-07-2023 14:30
  
  Cost of living crisis and labour shortages force hospitality venues to adopt a new normal‘All time low’: UK hospitality bosses say sector is fighting for survivalFor pubs and restaurants hoping to save money and stay afloat in the face of a record squeeze on disposable incomes, there is now a new normal: younger staff, simpler menus, less meat and closing for lunch.Since the onset of the pandemic the sector has been hit by skyrocketing energy costs, food inflation, high interest rate
  
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• ‘An all time low’: UK hospitality bosses say industry is fighting for survival

  21-07-2023 14:30
  
  The sector is facing many challenges, not least the cost of living crisis that could push the price of a pint to £7Closing for lunch: how UK restaurants are adapting to tough timesAdrian Forte, owner of The Duck, a bar and restaurant in Bournemouth, describes the current circumstances in which his venue has to operate as unprecedented.“I’ve been in the business for 40 years, and I’ve never seen such a perfect storm,” he says. “First Brexit, causing all these s
  
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• UK has ‘worst economy in world’. Now we’re facing the worst house price crash, too

  21-07-2023 14:16 via express.co.uk
  
  Ever since Brexit, the great and the good have decided that the UK economy is the worst in the world at everything.
  
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• McDonald’s sets up investigations unit after UK staff claims of harassment

  21-07-2023 13:49
  
  CEO apologises after allegations of intimidation, bullying, racism and homophobia at some outletsThe boss of McDonald’s in the UK has set up an investigations unit after more than 100 current and former restaurant staff alleged sexual harassment and bullying at some outlets.Alistair Macrow, the chief executive of McDonald’s for the UK and Ireland, said the claims were “personally and professionally shocking” and the business had “fallen short in some critical areas&
  
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• London Underground strikes called off after talks breakthrough

  21-07-2023 13:30
  
  Action that risked bringing capital to standstill for four days halted as RMT’s Mick Lynch reveals ‘significant progress’ madePlanned London Underground strikes that threatened to bring the capital to a halt next week have been called off after talks.The RMT and Aslef unions have suspended industrial action that would have stopped the tube entirely for four days and caused widespread disruption from Monday to Saturday. Continue reading...
  
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• FTX sues founder Sam Bankman-Fried and three others for $1bn

  21-07-2023 13:11
  
  Lawsuit by cryptocurrency exchange, which collapsed in November, is attempt to recoup assets sought by creditorsThe bankrupt cryptocurrency exchange FTX is suing its founder Sam Bankman-Fried and three other former executives for $1bn (£780m).FTX collapsed in November and Bankman-Fried was arrested the following month in the Bahamas over allegations he stole customer funds and extradited to the US, where he has pleaded not guilty to charges of fraud and conspiracy to violate campaign finan
  
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• Delays and jams expected as UK’s great summer getaway reaches its peak

  21-07-2023 12:56
  
  About 13 million holidaymakers will take to Britain’s roads, airports and ferry ports this weekendHolidaymakers have begun taking to Britain’s roads, airports and ferry ports as the great summer getaway reaches its peak this weekend.About 2 million people are expected to fly overseas from the UK between Friday and Monday, with about 13 million forecast to hit the roads in the coming days for trips abroad or a holiday at home. Continue reading...
  
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• Shawbrook boosts rates on easy access accounts to offer ‘market-leading’ products

  21-07-2023 12:50 via express.co.uk
  
  Customers can make any number of withdrawals from the accounts with no need to give notice.
  
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• UK budget deficit falls in June but experts say tax cuts are unlikely

  21-07-2023 12:44
  
  Jeremy Hunt says government needs to keep fiscal discipline as it attempts to halve inflationBusiness live updates – latest newsThe UK’s spending deficit fell unexpectedly last month, helped by higher income tax revenues on the back of a flurry of wage rises earlier in the year and a jump in VAT receipts.The public finances were £18.5bn in the red in June, £400m below the same month last year and below the £22bn shortfall the City had forecast, the Office for Nation
  
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• Dave Ramsey's advice to man earning £25k salary with £80k debt as he warns of 'struggle'

  21-07-2023 12:30 via express.co.uk
  
  On the Ramsey Show - Highlights YouTube channel, Dave Ramsey offered advice to Adam on how she could stop living "hand to mouth" and get out of debt.
  
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• ‘I was able to retire early at 36 thanks to investing £3 a week - and you can too!’

  21-07-2023 12:29 via express.co.uk
  
  People are increasingly looking for ways to retire early and achieve FIRE with investing being one of the key ways of reaching this goal.
  
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• State Pension payment warning for those approaching State Pension age

  21-07-2023 12:08 via express.co.uk
  
  State Pension is crucial for many, and with new statistics released by the DWP - here's all you need to know about claiming.
  
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• Martin Lewis urges 'check now' to see if you can maximise your savings

  21-07-2023 11:56 via express.co.uk
  
  Financial expert Martin Lewis is urging millions of people to take a closer look at their savings accounts and make a move immediately.
  
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• Your family could reclaim tens of thousands in inheritance tax with little-known form

  21-07-2023 11:23 via express.co.uk
  
  Falling prices for houses and other assets mean Britons may be overpaying inheritance tax.
  
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• We all want better for our children than we had – but Britain’s housing crisis is crushing that dream | Rhiannon Lucy Cosslett

  21-07-2023 11:23
  
  Our rental situation is better than most, yet we still found ourselves scrubbing mould from the windows to protect our son’s tiny lungsBefore we decided to have a baby, I thought a lot about what being a mother would be like, but there were some respects in which my imagination failed me. Both are related to my living environment. I live in a first-floor flat with quite a few steps leading up to the front door from street level, and it did not occur to me that this would be what might poli
  
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• Thousands of pensioners owed thousands from HMRC - check if you've overpaid your tax

  21-07-2023 11:14 via express.co.uk
  
  Retirees taking lump sums from their workplace or personal pensions could be getting overcharged by the tax man.
  
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• Retail sales warm up in Great Britain as shoppers spend more on food

  21-07-2023 09:20
  
  Quantity of goods bought rose by 0.7%, with supermarkets benefiting from hottest June on recordBusiness live updates – latest newsThe hottest June on record gave an unexpected boost to retail sales last month, with households in Great Britain buying more food and furniture despite continued pressure on budgets.Officials figures showed that the quantity of goods bought rose 0.7% month on month, much higher than average analyst forecasts of a 0.2% bump in sales volumes, with most retailers r
  
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• Homes for sale near UK beaches – in pictures

  21-07-2023 08:00
  
  From a remote country cottage to a grand home built as a nod to Queen Victoria’s favourite royal retreat Continue reading...
  
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• What do you get if greed is rife, government stupid and planning abused? Canary Wharf and other such horrors | Simon Jenkins

  21-07-2023 07:00
  
  As big firms exit what came to be a symbol of the office age, we can finally start thinking about building truly civilised citiesWhen did you last go to an office? This week, as hybrid working moves towards being a legal right, Britain was revealed to be second only to Canada in the global work-from-home league. Since lockdown, its office working has fallen by more than a quarter, an average of one and a half days a week. Covid has revealed the truth, that white-collar staff are not 9-5 factory
  
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• Why we are all living in a Barbie world – podcast

  21-07-2023 04:00
  
  She may have towered over the toy market for 60 years, but Barbie has never been short of critics. So why is a film about a plastic doll creating such fevered excitement?Ever since she exploded on to the toy scene, Barbie, based on a risque doll for men, has inspired adoration and unease. Her glamorous lifestyle, endless wardrobe, dream home and accessory of a boyfriend, Ken, delighted generations of children. But for many critics this oddly sexualised doll with the bouffant blonde hair and unre
  
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• Private rents outside London have risen by a third in four years, data shows

  21-07-2023 01:01
  
  Rightmove says average advertised rent in Great Britain is at all-time high of £1,231 a month outside the capitalPrivate rents in Great Britain have soared to fresh all-time highs and the average amount being asked for outside London is now a third higher than four years ago, figures from Rightmove show.Despite rental growth running well ahead of inflation, the property website said homes were continuing to be let quickly, with many landlords “still being met with long queues of pros
  
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