Financial news

• Rishi Sunak signals he could abandon green policies that cost consumers

  24-07-2023 20:37
  
  Conservative rightwingers push PM to create dividing line with Labour on environment after narrow byelection win in UxbridgeRishi Sunak has signalled the government could delay or even abandon green policies that impose a direct cost on consumers, as he comes under pressure from the Conservative right to create a dividing line with Labour at the next election.The prime minister said the drive to reach the UK’s net zero targets should not “unnecessarily give people more hassle and mor
  
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• Will Elon Musk’s X rebrand help Twitter soar to new heights?

  24-07-2023 19:47
  
  Analysts question whether Tesla boss will manage to turn around platform with plans for ‘everything app’X marks the spot: the many fellow fans of Musk’s favourite letterWhen Elon Musk tweeted “the bird is freed” as he bought Twitter last year, it was presumed he was referring to liberating the platform from its figurative shackles. Now he has booted the brand out of the nest altogether.Musk’s announcement on Sunday that he was rebranding Twitter as X is the la
  
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• Express readers call for BBC licence fee to be replaced with advertising

  24-07-2023 18:56 via express.co.uk
  
  A new Express.co.uk poll has shown that more than half of readers think that the BBC should be funded through advertising when the royal charter expires.
  
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• Pound on worst run since March 2020 as weak economy curbs interest rate rises

  24-07-2023 18:48
  
  New report suggests British economy almost stalled in July as consumers limited spendingThe pound has suffered its longest stretch of daily falls since the start of the Covid-19 pandemic amid growing speculation in the currency markets that a weakening economy will limit further increases in UK interest rates.With a new report released on Monday saying the UK economy almost stalled in July, sterling lost ground for a seventh day in a row against the US dollar – its worst run since March 20
  
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• Tui cancels flights to Rhodes as Ryanair continues despite wildfires

  24-07-2023 18:05
  
  Holiday firm offers refunds as Irish airline reports quarterly profits nearly quadrupled to €663m‘A near-death experience’: UK tourists describe escapeTui has cancelled all outbound flights to Rhodes up to and including Friday 28 July, while Ryanair said it was business as usual despite the wildfires that have prompted large-scale evacuations of the Greek island.Germany-based Tui, which has a large UK business, said it has also cancelled all outbound flights for customers travel
  
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• The answer to Britain’s housing crisis lies in its towns and cities – not the countryside | Simon Jenkins

  24-07-2023 17:30
  
  The Conservatives are right about making urban areas denser, but their proposed planning reform is an undemocratic messYes, Britain’s housing market is in a mess. No, that does not mean 75 years of town planning should be torn up just to win the Tories a few more seats. Today’s speeches on housebuilding by the levelling up secretary, Michael Gove, and his boss, Rishi Sunak, are in part sensible, in part not.They are right that there is no “need” for extensive new building
  
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• I’m a renter. My property’s real estate agent has been using offshore staff. Is this legal?

  24-07-2023 17:00
  
  This sounds very stressful, says Australian consumer law and policy professional Kat George. Your best next step might be making this your landlord’s problemGet our weekend culture and lifestyle emailI rented a property which changed management mid-agreement. Very shortly after the change in property management, things went downhill. The agent was calling on Sundays and turning up to the property unannounced. Concerned about this behaviour, I started doing some investigation about the agen
  
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• Train drivers announce new week-long overtime ban in England

  24-07-2023 15:25
  
  Aslef members to take action in week starting 7 August, as DHL workers suspend Gatwick strikeRail passengers are facing further disruption over the summer holidays after train drivers announced another week-long overtime ban in a long-running dispute over pay.Members of the drivers’ union, Aslef, will refuse to work extra hours from Monday 7 August to Saturday 12 August. Continue reading...
  
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• HMRC warns 170,000 Tax Credit claimants to act now or risk having payments stopped

  24-07-2023 15:18 via express.co.uk
  
  More than 170,000 Tax Credit customers must reply to HMRC by the deadline or will risk having their payments stopped.
  
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• Three million savings accounts now at risk of tax - ‘key’ ways to reduce burden

  24-07-2023 13:59 via express.co.uk
  
  Frozen allowances and higher interest rates are dragging more savers into tax thresholds.
  
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• ClientEarth loses high court fight with Shell over climate strategy

  24-07-2023 13:55
  
  Environmental law charity claims energy firm cannot achieve net zero goal with current transition planAn environmental law charity has lost an attempt to revive a lawsuit against Shell over its climate strategy after the high court in London refused permission to bring a case against the energy company.ClientEarth, which holds 27 shares in Shell, argues that the company cannot achieve its aim of net zero carbon emissions by 2050 with its current climate transition strategy, and its directors are
  
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• Bank increases interest rate on fixed savings account and earns a ‘top’ position in market

  24-07-2023 13:35 via express.co.uk
  
  Vanquis Bank has increased the rate on its one-year fixed bond offering savers more for their money.
  
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• Pensioners warned they could face £80,000 tax bill even if on a modest income

  24-07-2023 13:17 via express.co.uk
  
  Pensioners have been urged to check if their estate will be hit by inheritance tax as there are steps people can take to reduce their liability.
  
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• Celebrating black professionals: Black British Business Awards announce 2023 finalists

  24-07-2023 13:07 via express.co.uk
  
  The BBBAwards recognising the excellence of black professionals and entrepreneurs announced its 2023 finalists for the event that will be held at the InterContinental London, Park Lane on October 13.
  
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• British Gas incorrect reading left pensioner overpaying energy bill by £3,500 in 7 years

  24-07-2023 12:23 via express.co.uk
  
  A pensioner has had to give up visiting her family abroad and cancel her dentist appointments because she did not have any extra cash after being overcharged on her energy bills.
  
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• 'Hang up': Britons warned of free pension review scam stealing life savings

  24-07-2023 12:06 via express.co.uk
  
  The FCA warns it could take people "several years" to realise they've been scammed out of their pensions.
  
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• We last raised the US federal minimum wage 14 years ago. This is unacceptable | Rev William J Barber and Rev A Kazimir Brown

  24-07-2023 12:04
  
  The minimum has been an unlivable $7.25 an hour under three presidents. Today’s wage is worth less than at any point since 1956Researchers at the University of California-Riverside recently released a study showing poverty is the fourth leading cause of death nationwide. Poverty kills more people than homicide, respiratory disease, gun violence and opioid overdoses, the study showed.It’s stress, it’s starvation, it’s disease. And it’s all unnecessary.The Rev D Willi
  
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• Family 'could soon be homeless' after taking out bank loans to cover soaring energy bills

  24-07-2023 11:14 via express.co.uk
  
  The family of six are struggling to cover their bills despite working 17-hour days to keep their pub open.
  
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• Britain urgently needs growth... Instead, the BoE is deliberately giving us a recession

  24-07-2023 10:54 via express.co.uk
  
  The UK's debts are rolling up at speed and we can't tax our way out of this corner. Chancellor Jeremy Hunt has already driven the nation's tax burden to a 70-year high, and is nowhere near plugging our mighty £2.57trillion deficit.
  
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• Car parts shortage leaves drivers in limbo as makers ‘put sales first’

  24-07-2023 10:00
  
  Motorists are waiting months for repairs, or having cars written off, because replacement parts apparently cannot be found. But are they just being fobbed off?Drivers shocked as car insurance costs soar by up to 90%It was a snowy day in early March when Ruth Joad pranged her car. The one-year-old Volkswagen needed a new bumper and sensors. Her insurer, Aviva, told her to book it into an approved dealership – and that’s where it’s been ever since.“Four months on, there&rsq
  
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• My disabled son’s solo holiday plan was derailed by Eurostar

  24-07-2023 08:00
  
  He was trying to go abroad without us for the first time, but Eurostar said no to his vital mobile hoistMy 18-year-old son AS is a full-time wheelchair user. He is trying to go abroad without us for the first time this summer, after finishing his A-levels. But we have hit a brick wall with Eurostar over some medical equipment he needs to take with him.We booked and paid for the train journeys and hotel stays in Amsterdam for him and his carers. They use a hoist and sling to help him on to the to
  
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• Is equity release the best way to buy a house in Sweden a year before we sell in the UK?

  24-07-2023 08:00
  
  We are thinking of £150,000, some for decorating, as my husband wants to be nearer his family when he retiresQ My husband and I are going to move to Sweden when he retires as he wants to be nearer to his family. We own our home outright. We are thinking of taking out equity release for £150,000 to buy and decorate a property about a year before we move out of and sell our current home. Is this a good idea? Is there a better option of releasing money from the property? Our house is wo
  
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• How to start a pension if you’re self-employed in the UK

  24-07-2023 08:00
  
  It can be daunting but it is important to begin somewhere so you can top up a state pensionIf you are self-employed, it’s up to you to save for retirement, as you won’t be enrolled into a company pension. But sorting out your own pension provision can be daunting, particularly when you are managing a fluctuating income and running your own business. Continue reading...
  
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• Welsh whisky to gain UK’s special protected origin label

  24-07-2023 07:00
  
  Coles, Da Mhile, In the Welsh Wind and Penderyn distilleries awarded label in scheme brought in to replace EU versionWelsh whisky is to join its Scottish and Irish counterparts in being officially awarded protected origin status under the UK’s post-Brexit regime.Single malt from four distilleries in south and west Wales – Coles, Da Mhile, In the Welsh Wind and Penderyn – has been awarded protected geographical indication (UK GI) status, the scheme brought in to replace the EU&r
  
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• Our generation was told liberal economics would make us free. Look at us now. We were misled | Nesrine Malik

  24-07-2023 07:00
  
  We switched close but stifling social networks for a capitalist safety net that offered modern life choices. Now we don’t have eitherJane is a junior doctor working several extra locum shifts to make ends meet. Burnt out after the pandemic, and struggling with her physical and mental health, she would really like to take unpaid leave, but she cannot afford to do so. Last month, her landlord hiked up her rent, then served her with an eviction notice when she said she couldn’t afford i
  
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• MPs launch inquiry into prosecution of Norton Motorcycles pension fraud

  24-07-2023 07:00
  
  Regulators to be asked about how £10m scam was investigated, as Guardian Today in Focus podcast raises fresh questions about caseFinancial regulators are to be summoned to parliament to explain how they prosecuted the case of a multimillion-pound pensions fraud whose victims have yet to receive compensation and which has not led to anyone serving prison time.Sir Stephen Timms MP, the chair of the work and pensions committee, said he was launching an inquiry into how watchdogs and prosecuto
  
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• MPs challenge VC firms over record on female and minority-led firms

  24-07-2023 07:00
  
  Treasury committee finds huge majority of venture capital funding goes to companies run by white men in south-east EnglandThe venture capital industry has come under fire from MPs for its “unacceptable failure” to invest in businesses located outside London or south-east England, or those run by women and ethnic minorities.Businesses founded exclusively by women were revealed to have received just 2% of all venture capital funding in 2022, while even less investment went to companies
  
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• The Great British motorcycle scam – part one | Podcast

  24-07-2023 04:00
  
  Norton Motorcycles was once one of the most prestigious brands in motorsport. So how did it become the vehicle for a multimillion pound pension fraud that has left investors penniless? Simon Goodley reportsNeil Davies was facing the failure of his business – and money worries that were consuming his every waking hour – when the phone rang. On the line was a man who claimed he could solve all his problems.By transferring his modest pension pot over to the Norton Motorcycles scheme, Da
  
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