Financial news

• Don’t fall victim to fraudsters making fake loan offers, warns watchdog

  08-08-2023 23:01 via express.co.uk
  
  The Financial Conduct Authority found that Loan fee fraud usually peaks in the summer months as people want help to fund their summer spending.
  
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• UK banks to be given two weeks to explain closing of customer accounts

  08-08-2023 19:59
  
  Regulator to write to more than 20 of largest lenders after Nigel Farage’s accounts were threatened with closureThe City regulator will give the UK’s largest banks two weeks to explain why they have been shutting customer accounts, after a scandal linked to the threatened closure of Nigel Farage’s bank accounts.The Financial Conduct Authority (FCA) will write to more than 20 of the UK’s largest lenders on Wednesday asking them to confirm how many customer accounts have re
  
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• UK graduates: share your experience of applying for jobs after university

  08-08-2023 17:17
  
  We would like to hear how recent graduates and those starting their careers are finding the search for employmentPermanent staff appointments have fallen steeply according to recent survey data.The Recruitment and Employment Confederation and KPMG’s Report on Jobs has found that permanent job placements have declined at the quickest rate in just over three years amid a weak economic outlook and reduced confidence among UK businesses. Continue reading...
  
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• How can you tell remote work is over? Zoom has ordered employees back to the office | Arwa Mahdawi

  08-08-2023 16:07
  
  Working from home offered the chance for a great rebalancing of family, friendship and our careers. But the dream is fading fastI started my career in the corporate world and soon realised that I was extremely bad at corporate-ing. My main problem was that I liked to leave the office and have a life which was obviously a big no-no for anyone hoping for career progression.At one point a superior had to sit me down and tell me sternly that I should never be seen leaving before 8pm at the earliest,
  
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• UK workers: are you struggling to get the hours you’d like to work?

  08-08-2023 15:27
  
  We want to hear from “underemployed” workers who are not getting as much work as they’d likeWe’re interested in hearing from UK workers who have been struggling to get as much work as they’d like.Whether you’ve had trouble finding full time work, have had shifts cancelled regularly or have had your hours reduced permanently by your employer since you signed up for the job, we’d like to hear from you, and how this has been affecting your life, career and
  
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• ‘Where did I get my top? TikTok!’ How shopping went social – and hooked a new generation

  08-08-2023 15:00
  
  From a sweetshop in Stevenage to good old Marks & Spencer, British businesses are using live events to spice up their online businesses. And the money is pouring in …Zainab Hakim finds it tiring to go to the shops but thinks she might be addicted to shopping. She’s a 23-year-old receptionist from Birmingham, and doesn’t visit the high street to buy clothes – she watches sellers livestream on the social media site TikTok, peddling their wares in real time. With a coup
  
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• When to expect the next DWP Cost of Living payment - check your eligibility for £300 boost

  08-08-2023 14:58 via express.co.uk
  
  The Department for Work and Pensions is preparing to issue the next batch of financial support to eligible benefit claimants.
  
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• State pensioners could ‘be winners’ if wages rise higher than inflation under triple lock

  08-08-2023 14:48 via express.co.uk
  
  State pension payments are set to rise next year but older Britons could be getting more than initially thought.
  
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• Fixed savings interest rates ‘may have peaked’ - top deals on offer today

  08-08-2023 14:00 via express.co.uk
  
  Some three-year fixed savings accounts are paying interest rates as high as 6.05 percent.
  
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• Premium bonds prize fund rises to highest level in 24 years

  08-08-2023 13:58
  
  Millions of holders will also have increased chance of winning from September in NS&I drawMillions of holders of premium bonds will see the prize fund rise to its highest level in 24 years and their chances of winning a prize increase from September’s draw.NS&I, the government-backed organisation that runs the monthly draw, said it would increase the rate from 4% to 4.65% next month, adding £66m to the prize fund. Continue reading...
  
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• Households left with 'large and unexpected' inheritance tax bill due to 'complex rules'

  08-08-2023 12:29 via express.co.uk
  
  Around 40 percent of the properties purchased in England and Wales in 2022 would result in an inheritance tax bill.
  
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• Santander to increase interest rates of savings accounts - full breakdown of changes

  08-08-2023 12:26 via express.co.uk
  
  Banks, such as Santander, are responding to the Bank of England's decision to raise interest rates by hiking the rates of savings products.
  
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• UK’s biggest pension is worth £11million - expert shares 'powerful' tips to boost yours

  08-08-2023 11:57 via express.co.uk
  
  People need to have a pension wealth of £374,500 to be among the top 10 percent of retirement savers.
  
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• ‘Parent tax’ hitting families with extra £205 to energy bills this summer - how to avoid

  08-08-2023 11:43 via express.co.uk
  
  Energy bills are on the rise, even in summer, and parents are being warned of the pending "tax" being levied on them.
  
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• FTSE 100 has been shrinking for years - is it about to make a dazzling comeback?

  08-08-2023 11:09 via express.co.uk
  
  Everything in the UK seems to be getting smaller as our economy, living standards and pensions shrink by the year. Even our favourite snacks come in smaller portions, thanks to shrinkflation. Now we can add the FTSE 100 to that list, too.
  
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• Pensioners could see a £600 boost to their state pension next year

  08-08-2023 10:53 via express.co.uk
  
  High inflation means that retirees could be in line for an £848 a year increase in the money paid out to them.
  
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• British Gas sends £382 demand for a bill I don’t owe

  08-08-2023 08:00
  
  I’ve received a legal letter demanding a £382 ‘debt’ though I had switched to BulbWhen we moved into our new home in January 2020, the existing electricity supplier was British Gas. We were with the company for about a month before switching to Bulb.To cover this short period, we paid British Gas £76, and have been making regular monthly payments to Bulb ever since. Continue reading...
  
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• Tuesday briefing: How the housing crisis is hitting tenants hardest

  08-08-2023 07:36
  
  In today’s newsletter: No-fault evictions are rocketing, bills are ballooning and social housing lists are overloaded – what the statistics reveal about renting today and why urgent reform is needed• Sign up here for our daily newsletter, First EditionGood morning. On average there are 20 people requesting to view each rental property that comes on the market in Britain, more than triple what it was in 2019. In some parts of the north-west, that number inches closer to 30 per pr
  
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• Britons have become so mean that many of us think poor people don’t deserve leisure time | Frances Ryan

  08-08-2023 07:00
  
  A new survey is shocking, but maybe not surprising. This is the Victorian workhouse mentality repackaged for the iPhone eraShould someone off work with Parkinson’s be allowed a television? Does a supermarket assistant deserve a hobby? YouGov put a range of expenses to the public to ask at what income level they believed each should be attainable. The results are eye-opening. The survey shows that 76% of Britons believe that everyone should be able to afford their utility bills, while 74% t
  
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• UK retailers forced to slash prices after July washout and interest rate rise

  08-08-2023 01:01
  
  British Retail Consortium and KPMG report shows steep annual drop in volume of sales and a rise in promotional offersBritain’s hard-pressed retailers are being forced to slash their prices to drum up business after dismal summer weather and ever-higher interest rates combined to depress consumer spending in July.The monthly health check of high street and online spending patterns from the British Retail Consortium and the consultancy KPMG reported a steep annual drop in the volume of sales
  
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