Financial news

• England has lost at least 1,500 bus routes since 2021, figures show

  07-08-2023 23:30
  
  Government accused of ‘vandalism against communities’ after cuts revealed in traffic reportAt least 1,500 bus routes were cut in the last two years in England, figures published by the Department for Transport have revealed.The latest report from the Traffic Commissioners for Great Britain showed that the number of local registrations fell from just over 12,000 in 2021 to fewer than 9,000 in 2023, although the DfT said many of the routes had been reclassified rather than lost altoget
  
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• Zoom tells staff to come into the office at least two days a week

  07-08-2023 19:30
  
  Policy to apply to those living within 50 miles and follows fall in post- pandemic demand for video-conferencing servicesIt was the poster child for remote working and may have made more gains from people able to work from home during the pandemic than any other company, but even Zoom has told its staff to come into the office more often.The company, which became a household name during Covid lockdowns because of the popularity of its video-conferencing tools, has told employees to travel in at
  
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• CCTV camera catches blast in Turkish port – video

  07-08-2023 18:47
  
  At least 10 people were injured on Monday when an explosion rocked grain silos near the port of Derince in western Turkey, prompting an investigation into its cause, according to Seddar Yavuz, governor of Kocaeli province. CCTV footage from the port showed the moment of the blast as several silos were engulfed in flames. The transport ministry said no ships had been damaged as a result of the explosion Continue reading...
  
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• Ministers criticised as UK pubs prepare to call last orders on takeaway pints

  07-08-2023 17:54
  
  Industry body says decision not to extend rules allowing pubs to sell takeaway alcohol ‘disappointing’Ministers have been criticised for not extending rules allowing UK pubs to sell takeaway pints after the end of next month.Pubs were given the option to sell takeaway alcohol in July 2020 without having to apply to their local councils for permission, as part of a wider effort to limit the spread of coronavirus. Continue reading...
  
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• Labour’s shared values with Democrats will aid UK-US trade deals, says shadow minister

  07-08-2023 17:49
  
  If both parties win election in 2024, their ideological closeness would make them strong allies, says Nick Thomas-SymondsBidenomics lessons: Labour looks to Democrats as it prepares for powerUK politics live – latest updatesLabour’s ideological closeness to the Democrats puts the party in an ideal position to sign trade deals with the US should both parties win their elections next year, the shadow trade secretary has said.Nick Thomas-Symonds told the Guardian he thought Labour&rsquo
  
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• Can’t stand the heat: how can UK workplaces adapt to the climate crisis?

  07-08-2023 16:45
  
  Hot weather can be dangerous for workers, as well as driving down productivity. And with UK buildings poorly prepared, solutions are needed quicklyThe world has just experienced its hottest week on record, this summer. As southern Europe endured temperatures of up to 46C (115F) in July, reports of heat-related injuries among workers, and even deaths, began to appear.How prepared is the UK – which experts believe will also experience increasing temperatures in the coming decades – for
  
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• Crisis in NHS presents ‘business opportunities’, says boss of insurer Axa

  07-08-2023 16:10
  
  Thomas Buberl says firm will respond to long waiting times and staffing shortages for patients by expanding activity in UKThe growing crisis facing the NHS presents “quite a few business opportunities” for AXA to expand its private healthcare business, the French insurance group’s chief executive has said.Speaking to the Financial Times, Thomas Buberl highlighted the mounting pressures on the health service, including record waiting lists, rising inflation pushing up costs such
  
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• The UK property market is not crashing – it’s proving rather resilient | Larry Elliott

  07-08-2023 16:06
  
  House price falls have been modest given the post-lockdown price boom and interest rate spike but further falls seem likelyPrices drop again as first-time buyers ‘switch to smaller homes’Britain has an unhealthy obsession with house prices, particularly during those relatively rare periods when they are falling rather than rising. So news that the cost of a home has fallen for four months in a row will inevitably lead to speculation about a property crash.It isn’t happening. Ye
  
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• ‘It’s tough out there’: cracks in UK housebuilding sector grow by the day

  07-08-2023 15:00
  
  Insolvencies rocket as army of small firms – seen as backbone of the sector – struggle with falling demand, rising interest rates and higher costs“It’s tough out there,” says Steve Midgley, the managing director of Fairgrove Homes. His east Midlands firm, which builds about 50 homes a year, is one of Britain’s army of small housebuilders that are struggling with falling demand, rising interest rates, labour shortages, and high material and wage costs.“It
  
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• HSBC executive apologises for calling UK weak over China

  07-08-2023 13:54
  
  Sherard Cowper-Coles claimed British government was bowing to US demands in dealing with BeijingA senior executive at HSBC has apologised after saying the “weak” UK government had caved in to the US in its approach to doing business with China.Sir Sherard Cowper-Coles, the bank’s head of public affairs and a former British diplomat, said sorry after “sharing his personal views” on Britain’s policy towards Beijing at a private event, a spokesperson for HSBC sai
  
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• I had no idea how inaccessible urban Britain is – until I faced it in a wheelchair | Dorothy Dunn

  07-08-2023 13:00
  
  A period confronting cracked, perilous pavements brought into sharp relief the barriers society creates for disabled peopleAs global populations age, the question of how our cities are designed and built to accommodate all abilities is a pertinent one. Last week, transport officials proposed an array of measures to make British towns and cities more accessible to a modern population. Allowing people extra time to cross the road at traffic lights, and improved visibility of street signs, were som
  
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• UK school leavers: have you been turned off university over affordability concerns?

  07-08-2023 11:57
  
  We’d like to hear from young people who have decided against university due to concerns about cost and future financesWe’re interested to hear from young Britons who have opted out of higher education because they feared student life would be unaffordable, or had concerns about their financial future if they attended university.Whether financial concerns relating to tuition fees, student accommodation, student loan repayments or concerns about graduate job prospects have prompted you
  
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• Major UK gas boiler maker to start electric heat pump production in Hull

  07-08-2023 10:30
  
  Exclusive: Ideal Heating’s £50m investment aims to build 60,000 pumps and train 5,000 installers a year One of Britain’s biggest boiler makers is to start manufacturing electric heat pumps to keep pace with what it describes as the biggest transformation since the switch from coal to gas devices in the 1930s.Ideal Heating has invested £50m in transforming the manufacturing facilities at its Hull headquarters, which have produced fossil fuel boilers for more than a century
  
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• Families face tough choices over lifestyle as mortgage costs soar

  07-08-2023 10:00
  
  The decision to raise interest rates again has piled on yet more pressure to rein in spending and even give up on a dreamLike many young couples, Chris Smithers and his wife were hoping to have another child within two years of their first. But a huge impending increase in their mortgage payments has put paid to their plans.When their existing fixed-rate deal ends in April next year, Smithers fears their mortgage repayments could more than double from £1,880 to £3,800 in the worst-ca
  
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• Pensioner 'up all night worrying' after NatWest shut off access to state pension

  07-08-2023 09:53 via express.co.uk
  
  A pensioner has been unable to access his UK state pension for seven months due to the closure in January this year.
  
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• House prices drop by £15,500 in some UK areas - here are the locations impacted most

  07-08-2023 09:40 via express.co.uk
  
  House prices in July were 2.4 percent lower than the same month a year earlier, the Halifax property index reveals.
  
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• UK house prices drop again as Halifax says first-time buyers are switching to smaller homes

  07-08-2023 09:38
  
  Decline in July is fourth monthly fall in a row with prices dropping by 2.4% on an annual basis, says lenderThe average UK house price has fallen for the fourth month in a row, according to Halifax, which says higher borrowing costs are increasingly pushing first-time buyers to switch to smaller homes.The average UK house price fell by 0.3% in July, its monthly index showed, with the typical UK home costing £285,044, compared with a peak of £293,992 last August. Continue reading...
  
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• Should I overpay my mortgage monthly or with a lump sum at the end of each year?

  07-08-2023 08:00
  
  I have a five-year fixed-rate deal, just missed the rising interest rates and want to plan for an uncertain futureQ I took a five-year fixed-rate mortgage last summer and was lucky enough to just miss the rising interest rates. I’m looking ahead, as things could still be tricky in five years, and so I plan to overpay as much as I can. Does it make a difference how I overpay? Would it benefit me more to make a monthly payment or a larger lump sum at the end of each year?RHA If you had said
  
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• I can’t get Allianz to refund travel insurance though my partner has died

  07-08-2023 08:00
  
  I had to cancel a trip when my girlfriend died from cancer. Now I’m struggling to get my money backI planned to go on holiday with my girlfriend DM to Tenerife this autumn, and we were looking forward to it. Sadly, she died after an unexpected cancer diagnosis and I’m struggling to get my money back.I booked last summer, originally for April, at a cost of £3,228, plus £253 for travel insurance with Allianz Assistance. We also paid an additional £220 premium for DM,
  
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• How to get better at DIY without spending a fortune

  07-08-2023 08:00
  
  From choosing the best tools to doing the right prep – plus, the jobs you should never attemptWhen it comes to home improvements, whether it’s decorating the living room or insulating the loft, there is often a choice to be made. Should you call in the professionals, or could you save a lot of money by doing the work yourself? We look at ways in which you can build DIY skills and learn the tricks of the trade to cut the cost of improving your home. Continue reading...
  
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