Financial news

• Ex-Nationwide teller in London jailed for part in £130,000 bank fraud

  03-09-2023 18:44
  
  Nathan Gilbert, of Enfield, changed the account details of customers and fraudulently issued passbooksA former teller at a London branch of Nationwide has been jailed for more than two years for his part in a £130,000 bank fraud.Nathan Gilbert, 26, of Enfield, north London, who was said to have abused his position of trust at the bank, pleaded guilty at Southwark crown court to committing fraud and was sentenced earlier this year. Continue reading...
  
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• UK chip designer Arm ‘cuts target valuation before Nasdaq listing’

  03-09-2023 16:20
  
  Company said to be eyeing $50bn-$55bn compared with $64bn its owner Softbank stated last monthThe British computer chip designer Arm has reportedly lowered its targeted valuation as the business speaks to investors before a long-awaited stock market float in New York.Arm is targeting a valuation between $50bn and $55bn (£40bn to £44bn), down from the $64bn valuation given by its owner, Softbank, in a transaction last month, Reuters first reported. Continue reading...
  
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• Rishi Sunak rules out quick-fix trade deal with India

  03-09-2023 16:00
  
  Exclusive: Sources believe deal will not be struck before meeting with Narendra Modi at G20 summitRishi Sunak has ruled out a quick-fix trade deal with India, making it impossible to get an agreement over the line in time for this week’s G20 summit in Delhi – and possibly even by next year’s elections.Multiple sources close to the negotiations said the prime minister has rejected the idea of an “early harvest” deal, which could have lowered tariffs on goods such as
  
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• Sparks flies: how frumpy Marks & Spencer became fashionable again

  03-09-2023 14:00
  
  Four years ago the venerable retailer fell out of the FTSE 100, suffering a humiliating blow to its prestige. But now it has turned things aroundIt’s four years to the day since Marks & Spencer dropped out of the FTSE 100 for the first time since the City share index’s 1984 inception.It was a major blow for one of the UK’s biggest retailers – and symptomatic of a series of existential problems it faced. Share prices were close to a 20-year low; annual profits had slum
  
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• Tesco gives workers bodycams after rise in violent attacks

  03-09-2023 12:21
  
  Chief executive says chain has invested heavily in security after assaults rose by a third in a yearTesco’s chief executive has called for a change in the law to make abuse or violence towards retail workers an offence across the UK.Writing in the Mail on Sunday, Ken Murphy said the supermarket chain had offered body-worn cameras to members of staff who need them after seeing physical assaults rise by a third in a year. Continue reading...
  
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• UK’s growth is silver lining – and clouds suggest recession looms | Larry Elliott

  03-09-2023 11:57
  
  The chancellor says the economy is resilient but forward-looking indicators suggest otherwiseManufacturing is struggling and house prices are sliding. There is precious little money in the kitty for pre-election tax cuts. Inflation is proving hard to shift and strikes by hospital doctors and railway workers are set to continue. The Bank of England is slowly throttling the economy with its increases in the cost of borrowing.Having dodged the recession bullet last year, there are signs the UK may
  
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• UK food banks bring in counsellors and private GPs to help exhausted workers

  03-09-2023 11:51
  
  Exclusive: Volunteers and staff traumatised by relentless workload and efforts to help destitute clientsBritain’s food bank charities are buying in counselling, GP and mental health support services to help staff and volunteers cope with stress and exhaustion triggered by the explosion in demand for emergency food.The wellbeing services are a response to a rise in burnout and stress among frontline food bank workers as they deal with expanding workloads and the emotional burden of supporti
  
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• Are your parkrun times getting slower? Just blame it on the economy | Torsten Bell

  03-09-2023 09:33
  
  Research into the Saturday 5k events reveals the over-50s run faster in recessionsI spend all week working on economics, then kick off the weekend by volunteering/running at the local parkrun. You might not think this sounds hugely exciting, but it means I really enjoyed reading some new research that imaginatively brings the two together.Parkrun involves a 5km run taking place each Saturday at more than 700 locations across the UK. The purpose is to get us exercising, but the bonus (because eac
  
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• ‘He took every penny’: the women left with a debt mountain by coercive partners

  03-09-2023 09:00 via theguardian.com
  
  Coercive or controlling behaviour has been an offence since 2015, but its financial aspects are poorly understood and can leave lives in ruins, a new report says“I’ve got nothing. I’ve worked for 26 years and the only asset I have is my pension. I have no savings, no home and my credit rating is destroyed because of the credit cards and loans he took out in my name. Everything I thought we owned, we didn’t.”Two years ago, Ruth Dodsworth, a television journalist and
  
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• Sadiq Khan hits back at criticism of London Ulez expansion

  03-09-2023 08:00
  
  Mayor of London defends scheme and accuses Tories of trying to sow ‘division and discord’Bogus war on the motorist is sign of Tory desperation | Sadiq KhanSadiq Khan has hit back at criticism of the expansion of the ultra-low emission zone (Ulez) and accused the Conservatives of creating a “bogus war on the motorist”.The scheme, which was expanded to cover all of Greater London on Tuesday, charges older, more polluting vehicles £12.50 a day and is the largest clean
  
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• My bittersweet holiday offered no break from Brexit woes

  03-09-2023 08:00
  
  A trip to Portugal, Britain’s oldest ally, was a painful reminder of the benefits of EU membershipThe media has been replete this summer with reports of British holidaymakers returning from EU countries proclaiming – and complaining – that our neighbours enjoy a better way of life than is now the case in Brexit Britain.In years gone by a popular English phrase was “mustn’t grumble”. These days it has been superseded by “nothing works” and “th
  
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• Bogus war on the motorist is sign of Tory desperation | Sadiq Khan

  03-09-2023 08:00
  
  I welcome robust discussion, but this obsession with Ulez is an attempt to sow discord and divisionLondon’s ultra-low emission zone expanded to the Greater London boundary on 29 August – making it the largest clean air zone in the world. Five million more Londoners will now breathe cleaner air – helping to prevent early deaths, protect children growing up with stunted lungs and reduce serious health issues such as asthma, cancer and dementia.Nine out of 10 cars seen driving in
  
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• UK rents rise faster in deprived areas – and drag more people into poverty

  03-09-2023 07:00 via theguardian.com
  
  Cost doubles in some poor urban districts, driven in part by mortgage rate rise, UK-wide study showsPeople living in the most deprived areas of Britain have seen their rents increase by 52% over the past four years – while for tenants in the wealthiest regions, rents have risen by only 29%, new figures show.“It is shocking to see that home rents have been rising in areas where people are least able to afford to pay more,” said Dan Wilson Craw, deputy chief executive of Generati
  
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• ‘An absolute mess’: learner drivers forced to buy tests on black market as companies block-book slots

  03-09-2023 07:00 via theguardian.com
  
  As brokers exploit the hunt for tests with an automated ‘bot’ system, many are paying extortionate fees to ditch their L-platesBritain’s system of allocating driving tests is in disarray in many parts of the country as learner drivers are forced to travel hundreds of miles for their tests or pay unofficial brokers up to £400 to avoid the queues, reveals an Observer investigation.The number of drivers waiting to take their practical tests climbed above 500,000 this year, r
  
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• Woman, 57, takes early retirement and starts side hustle making £200 a week

  03-09-2023 06:01 via express.co.uk
  
  EXCLUSIVE: Unwilling to take another 9 to 5 office job, one woman found a unique way to make some extra cash and keep her bills low.
  
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