Financial news

• Biden administration trials website for new student loan repayment scheme

  30-07-2023 23:55
  
  Beta – or testing – site for ‘Save’ plan should take only 10 minutes to use and aims to cut undergraduate payments in halfThe Joe Biden White House is launching a beta – or testing – website as part of its new income-driven student loan repayment plan, according to reports.The site, which CNN first reported on Sunday, comes as part of the president’s Saving on a Valuable Education (Save) plan, which was announced earlier this year after the supreme court
  
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• Peas corp: how a UK co-op gets peas from field to freezer in 150 minutes

  30-07-2023 16:00
  
  All systems are go at the GPS-guided operation that supplies 42,000 tonnes to Birds EyePeas are bouncing with abandon, creating an effect like bright green lava despite being frozen – as they begin the final part of their journey from field to fork.There are 35,000 hectares (86,000 acres) of peas grown in the UK each year, mostly along the east coast from Dundee to Norfolk, producing about 160,000 tonnes of peas, equivalent to roughly 2bn portions. Continue reading...
  
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• Tory decision to drop social energy tariff ‘betrays most vulnerable’

  30-07-2023 15:03
  
  Measures to help households seemingly abandoned by ministers, says campaign groupThe UK government has been accused of betraying the most vulnerable in society by seemingly abandoning support for a social tariff that would help households pay for their gas and electricity.Fuel poverty campaigners were left angry after ministers failed to include plans for a social tariff from next spring in energy market reforms, despite commitments in two budget statements. Continue reading...
  
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• Step to riches? Disused stairwell in London could be yours for just £20,000

  30-07-2023 12:42
  
  Estate agents sellingTwickenham ‘property’ believe it could have development potentialIf climbing the property ladder seems stressful to you, why not consider taking the stairs?A disused four-storey stairwell at the back of a branch of Starbucks in south-west London has become the latest peculiar piece of property to go on sale in London’s feverish housing market. Continue reading...
  
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• We bailed out the banks but we’re not prepared to bail out the planet | Larry Elliott

  30-07-2023 12:04
  
  US and UK must use financial firepower of the state to put economies on a saner courseLike many other politicians, Joe Biden talks a good game about the need to tackle global heating. Climate change is an “existential threat”, the US president said last week, as America sizzled amid record-breaking temperatures.Biden had to do something in response to what António Guterres, the UN secretary general, described as the boiling of the planet. The White House announced a series of
  
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• Say hello to longlife tech that can challenge our throwaway culture

  30-07-2023 10:00
  
  We’ve got used to dumping old devices. But a new breed of firms is making products that they hope you will hang on toIt is a habit that has become ingrained in so many consumers that you could be forgiven for thinking there was no other way: dumping your old and tired tech for a shinier model every year or two, shelling out hundreds of pounds in the process.But a new generation of technology is creeping into the mainstream that is designed to upend this consumerist churn – devices th
  
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• Millions of UK families using credit cards and loans to pay basic bills

  30-07-2023 10:00
  
  Poverty charity the Joseph Rowntree Foundation warns of ‘debt timebomb’ as interest rate rises hit low-income householdsMillions of families are borrowing to cover basic bills and expenses, according to analysis that warns Britain is entering a dangerous new phase of the cost of living crisis.Interest rates are expected to rise again this week and there are warnings about a “timebomb of debt” among poorer households. Reports suggest companies are targeting struggling sing
  
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• Nigel Farage launching new website to help people denied accounts by banks

  30-07-2023 07:00
  
  The ex-Ukip leader has been hailed as a consumer champion after vowing to create a guide on how to flood banks with data requests Nigel Farage has vowed to help thousands of people flood big banks with demands for details about why they were denied an account, as allies said his treatment by Coutts and NatWest had turned him into Britain’s newest “consumer champion”.The former Ukip leader is to spearhead a website assisting anyone who wants to find out why they have been denied
  
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• Mortgage rates ease as Bank of England’s bitter medicine shows signs of working

  30-07-2023 06:00
  
  Fixed deals edge down as the City predicts that interest rates are nearing their peak and the UK economy coolsSeveral of the nation’s biggest lenders cut rates on their fixed mortgage deals last week, in a sign of mounting expectations that the Bank of England may be nearing the end of an aggressive cycle of interest rate rises.Next week, the Bank is expected to push up interest rates for a 14th consecutive time from 5% to 5.25%, with financial markets betting that they will peak at 5.75%
  
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