Financial news

• Germany declared ‘sick man of Europe’ as US and Brexit Britain economies grow

  04-09-2023 23:38 via express.co.uk
  
  The centre of the EU economic engine is struggling to return to its pre-COVID levels as the US and UK economies show signs of economic growth.
  
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• ‘I made over £600 in a couple of hours thanks to my side hustle flipping old cars!’

  04-09-2023 23:37 via express.co.uk
  
  Side hustlers are buying second-hand items, such as used cars, and flipping them for a lot of money.
  
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• Bank of England inflation failure exposed as ex-official throws Andrew Bailey under bus

  04-09-2023 20:57 via express.co.uk
  
  A former Bank of England chief economist has said the institution may have persisted "a little longer than we needed to" with some of its Covid-era policies.
  
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• Millions of state pensioners set for huge cash boost under triple lock next year

  04-09-2023 20:45 via express.co.uk
  
  September's announcement on average earnings could see a state pension increase of over £800 a year.
  
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• Putin says no grain deal until west meets obligations – video

  04-09-2023 20:42
  
  The Russian president, Vladimir Putin, has said the deal that allowed Ukraine to export grain safely through the Black Sea will not be restored until the west meets its obligations to facilitate Russian agricultural exports. Speaking at a press conference with his Turkish counterpart, Recep Tayyip Erdoğan, Putin said 'there is no physical shortage of food', denying western claims that Russia had stoked a food crisisWhat was the Black Sea grain deal and why did it collapse? Continue reading.
  
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• HSBC and NatWest cut mortgage rates again as rivals tipped to follow

  04-09-2023 19:46 via theguardian.com
  
  Decision will ease some pressure on UK homebuyers and people seeking remortgage dealsHSBC and NatWest have announced a fresh round of mortgage rate cuts and Britain’s remaining large lenders are expected to follow suit in a move that will ease some of the pressure on hard-pressed Britons.HSBC said it was cutting rates across many of its new fixed products – including some of its first-time buyer, home mover and remortgage deals – with effect from Tuesday, when full details of t
  
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• ‘Essentials guarantee’ on benefit levels is just a first step | Letter

  04-09-2023 19:02 via theguardian.com
  
  Current levels are inadequate and also counterproductive to the government’s aim of getting more people into paid work, writes Ruth ListerIt’s encouraging that support is growing for a real increase in social security benefit levels based initially on the “essentials guarantee” proposed by the Joseph Rowntree Foundation and Trussell Trust, mentioned in your editorial (The Guardian view on extreme poverty: the law should make essentials affordable, 31 August).A recent inqu
  
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• Everything you need to know about the next DWP £300 Cost of Living Payment

  04-09-2023 18:07 via express.co.uk
  
  During this financial year, three payments totalling £900 will go to those on means-tested benefits including Universal Credit.
  
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• ‘I’m an energy expert - this is the check you need to make before the price cap change’

  04-09-2023 17:10 via express.co.uk
  
  The amount that an average household is expected to pay for its energy bills will fall by around £151 per year from October 1.
  
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• Asda owners questioned over ability to stop price rises amid cost of living pressures

  04-09-2023 16:07 via express.co.uk
  
  The concerns about Asda follow a competition watchdog's finding that the supermarket had put a pause on their price cuts when wholesale oil prices fell.
  
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• Britons need £240,000 extra pension wealth for a 'comfortable' 100-year life

  04-09-2023 15:31 via express.co.uk
  
  Average life expectancies are on the rise leaving Britons needing hundreds of thousands of pounds more to retire comfortably.
  
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• Santander launches new 'top of market' easy-access savings account paying 5.2% interest

  04-09-2023 14:12 via express.co.uk
  
  Savers need to act fast as the Santander new easy-access account is only available until September 17.
  
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• More than one in five Britons have cut pension payments in living cost crisis

  04-09-2023 13:54 via theguardian.com
  
  Hargreaves Lansdown study comes as fund manager Abrdn calls for doubling of minimum contributionsMore than one in five Britons have cut their pension contributions or stopped paying in altogether as the cost of living crisis forces households to make difficult decisions, according to a study.The research coincides with the head of one of Britain’s biggest fund managers, Abrdn, calling for a doubling of minimum pension contributions for millions of workers in order to avert a “very re
  
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• I voted Remain but I’d love to see UK make a success of Brexit (and now it could happen)

  04-09-2023 13:06 via express.co.uk
  
  The first thing that surprised me about the 2016 Brexit referendum was how the Leave vote rocketed right at the end. The second was just how angry Remainers were at the result, because the ones I knew were incandescent.
  
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• Residents of south London housing estate demand urgent repairs

  04-09-2023 12:48 via theguardian.com
  
  Damp and mould so bad one cancer patient had to sleep on floor after ceiling collapsed, say residentsHundreds of residents on a south London housing estate are demanding action from their council landlord, which they claim is ignoring urgent repairs needed on their homes.Residents of the Tulse Hill estate say they have been left dealing with widespread problems of damp and mould that are so bad that in one case a cancer patient had to sleep on the floor for months after his ceiling collapsed twi
  
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• No gym fees, no fancy equipment: it’s the skint bouncer’s guide to fitness!

  04-09-2023 11:00 via theguardian.com
  
  Forget treadmills, rowing machines and air-conditioned exercise suites: you can get in shape with a staircase, a chair and fridge. Take it from a man who can’t afford to throw money aroundEven a basic gym membership in Britain can easily cost you £30 a month or more. This means it’s likely to be one of the first things to get binned if you’re on a low wage during this cost of living crisis. In my job as a licensed bouncer and security guard, I earn £11.76 an hour. E
  
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• You’ve bought a new house. But what if it gets wrecked before you move in?

  04-09-2023 10:00 via theguardian.com
  
  Buyers are responsible for their new property as soon as contracts are exchanged, as one couple learned the hard way The moment Aarifa and Adam* stepped into their new home was supposed to be a memorable one. And it was. The ceilings lay on the floor. Electric cables dangled from the exposed rafters and water was pouring through two storeys.It was only when the couple had collected the keys that they discovered that a frozen water pipe in the loft had burst, flooding the property from top to bot
  
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• Room to rent … for eight days: welcome to the meme-worthy world of sublet Britain | Daisy Jones

  04-09-2023 09:00 via theguardian.com
  
  More and more renters are advertising properties for bafflingly short lengths of time. But it’s not as ridiculous as it soundsBy now, especially if you’re a city-dweller in your 20s and 30s, you’ve probably noticed one of these posts going around social media. You’ve probably, in fact, seen at least three this week. You may have even posted one yourself. “Looking for someone to take over my room in Dalston for two weeks in late September!” they might begin, be
  
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• We found a boundary problem after buying our house. Can we challenge it?

  04-09-2023 08:00 via theguardian.com
  
  Neighbours replaced fence before we moved in and said previous owner of our home was OK with itQ We moved into our home a few years ago, buying the property from an elderly woman. She was clearly in the first stages of dementia and her relatives managed the sale for her to move into a home. As we’ve come to decorate the property, it’s been clear that work she has paid for looks good from the outside but closer inspection sees corners cut and poor workmanship. We thought that was the
  
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• Thrifty weddings to family parties: how to host a celebration on a budget

  04-09-2023 08:00 via theguardian.com
  
  Set a spending limit, find a low-cost venue and use secondhand decorations where you canRather than just going out and buying decorations and food or drinks for your event, start with a budget and stick to it. Continue reading...
  
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• Our journey on the European Sleeper turned into a bad dream

  04-09-2023 08:00 via theguardian.com
  
  There were no working toilets, no air-con, no sleep – and finally we were locked inThis summer, my family and I enjoyed a fortnight’s backpacking around northern Europe, travelling mainly by rail. As part of that, we booked the European Sleeper service for the final leg of our journey from Berlin to Amsterdam. The cost was €499 (£428) for a couchette compartment for the four of us.The company’s website showed pictures of very smart and comfortable-looking compartment
  
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• High interest rates ‘will lead to thousands of UK firms failing in 2024’

  04-09-2023 01:01
  
  Thinktank Cebr expects Bank rate to rise twice more and predicts 28,000 insolvencies over next yearAbout 7,000 businesses are likely to fail every quarter in 2024 as high interest rates cause financial strain and the UK economy enters recession, according to a thinktank.The Centre for Economics and Business Research said debt taken on during the pandemic, higher borrowing costs and the cost of living crisis would drive an increasing number of businesses under, particularly in the retail and hosp
  
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• Expect inflation blip but our plan is working, says Jeremy Hunt

  04-09-2023 00:59
  
  Chancellor blames expected rise on fuel price increases but maintains inflation will halve by end of 2023The chancellor, Jeremy Hunt, has said the UK may experience a “blip” increase in inflation this month, as data suggested that average fuel prices have jumped back above £1.50 a litre.Hunt said the government is on track to hit its target of halving inflation by the end of the year but suggested the rate of price rises could spike when the latest figures for August are publis
  
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