Financial news

• Rishi Sunak tells G20: UK will resist ‘hair shirt’ policies on net zero pledge

  09-09-2023 23:30
  
  The prime minister suggested to the summit that he wanted to limit the impact of green measures on British consumersRead more: Rishi who? Sunak slips down pecking order in scramble to court IndiaRishi Sunak has said he will resist “hair shirt” policies designed to reduce carbon emissions and achieve Britain’s net zero pledge, amid an intensifying Tory row over the party’s commitment to tackling the climate crisis.Tensions have been growing within the party all summer over
  
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• Liz Truss to ‘share lessons’ of her time in government in new book

  09-09-2023 23:30
  
  The former PM blames lack of support for Conservative ideas as part of her downfall during her 49-day premiershipLiz Truss is writing a book about her 49 days as prime minister, which will argue the main cause of her downfall was a lack of “support for Conservative ideas” – and too much support for the “global left”.The former prime minister wants to see a “Conservative movement revival” and has decided to “share the lessons” from her time in
  
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• New French vegan group spreads it's gallic roots in UK with plant-based food

  09-09-2023 21:13 via express.co.uk
  
  Fast growing French food group La Vie, which produces "plant-based" bacon and pork products, is looking to expand in the UK, by securing more listings with supermarkets, writes Geoff Ho in Paris.
  
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• New NatWest boss worked for oil firm under investigation in ‘world’s biggest financial scandal’

  09-09-2023 20:27
  
  Exclusive: Rick Haythornthwaite was paid £200,000 a year by Saudi company, PetroSaudi, involved in 1MDB scandalRead more: The NatWest boss, the missing Malaysian millions and the damning emailThe new chairman of NatWest is facing scrutiny over his former role with international oil group PetroSaudi, which is embroiled in one of the world’s biggest financial scandals.City veteran and former MasterCard boss Rick Haythornthwaite worked for PetroSaudi International (UK) Ltd, the oil grou
  
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• Birmingham council won’t be the last to fail until local government funding is overhauled | Observer editorial

  09-09-2023 20:03
  
  Urgent reform of an outdated, unfair system of finance is vitalBirmingham is Britain’s second largest city and is forecast to have one of its fastest-growing economies by the end of this year. Yet last week Birmingham city council effectively declared itself bankrupt, issuing a section 114 notice to signal it no longer had the resources to fulfil its legal obligation to balance its budget.There are some specific local issues that have led to this dire situation. The council has had to agre
  
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• Now even the Bank of England admits greedflation is a thing

  09-09-2023 18:00
  
  Work by Threadneedle Street’s own analysts suggest that firms are intending to keep prices high, despite falling costsA rebound in corporate profit margins over the next year could prevent inflation falling as quickly as the Bank of England is expecting. That’s not the conclusion of a leftist thinktank or trade union. It’s a clear message from the central bank itself, or more precisely from a group of its in-house economists, whose published research examines how a wide spectru
  
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• ‘The city wants to finish off what Russia’s attacks began’: Kyiv residents fear property grab

  09-09-2023 17:35
  
  Damaged historic buildings are allegedly among those developers wish to demolish for profit in complicity with the authorities About an hour after air raid sirens sounded in the early hours of 10 August, residents on Yaroslavska Street in the heart of Kyiv’s hip Podil district heard the crash of a building coming down.Some looked out of their windows expecting to see the smoking remains of a Russian missile. Instead, in the dawn light, two excavators were tearing apart an elegant 200-year-
  
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• Instead of tilting at turbines we should see them for what they are: beautiful | Rowan Moore

  09-09-2023 17:02
  
  Britons should learn to love onshore renewables as part of a long tradition of robust, practical, rural structuresGrowing up in the countryside, it was a feature of drives with my parents that electricity pylons would be deplored. So I am familiar with the instinct to oppose wind turbines, which like pylons are large, energy-providing infrastructure, among some country dwellers, leading David Cameron to tighten up rules in 2015 in a way that led to a 97% reduction in the numbers granted planning
  
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• Wegovy: the slimming drug that keeps Denmark’s economy growing

  09-09-2023 17:00
  
  Novo Nordisk, the maker of the blockbuster obesity injection, has singlehandedly saved the country from a recessionIn the leafy middle-class suburb of Bagsværd, near a lake north-west of Copenhagen, the drugmaker Novo Nordisk’s white circular headquarters rise from the ground like a giant flying saucer. The building looks like a sci-fi film set made by Lego, another stalwart of the Danish economy.Thanks to booming demand for its weight loss treatment Wegovy, the Danish business last
  
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• How savvy trillion-dollar chipmaker Nvidia is powering the AI goldrush | John Naughton

  09-09-2023 17:00
  
  The US firm best known for its gaming tech has long been ahead of the curve in supplying the tools needed by tech developersIt’s not often that the jaws of Wall Street analysts drop to the floor but late last month it happened: Nvidia, a company that makes computer chips, issued sales figures that blew the street’s collective mind. It had pulled in $13.5bn in revenue in the last quarter, which was at least $2bn more than the aforementioned financial geniuses had predicted. Suddenly,
  
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• Global push for commitment to phase out fossil fuels gathers pace ahead of Cop28

  09-09-2023 16:46
  
  UN hopes to galvanise summit talks by persuading world leaders to commit to stop burning coal, oil and gas, despite industry lobbyingA global push to commit to phasing out fossil fuels is gathering new momentum before a crucial UN climate conference this autumn, despite stiff opposition from oil-producing countries.Campaigners are ramping up efforts to put an undertaking to stop burning not just coal, the dirtiest fossil fuel, but also oil and gas on the UN agenda ahead of the Cop28 summit in Du
  
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• UK’s years out of EU Horizon programme did ‘untold damage’, say scientists

  09-09-2023 14:00
  
  Relief at rejoining flagship research scheme tempered by anger over loss of top academics since Brexit Britain may have rescued its scientific fortunes with a last-minute decision to rejoin the EU’s Horizon research programme – but the move should not be treated as a cause for jubilation, scientists have warned.The sluggish pace at which the agreement was reached has had too severe an impact on UK research for widespread elation, say many British researchers, who believe that science
  
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• UK travel chaos: how to claim compensation for cancelled or delayed flights

  09-09-2023 11:00 via theguardian.com
  
  Consumer rights experts reveal what you could be entitled to if your flight is delayed, cancelled or entire trip ruined‘Be afraid’: what I learned from a 26-hour Ryanair delay‘We paid £1,600’: UK passengers reveal flight cancellation woesThis summer a catalogue of human-made and natural disasters has wreaked havoc with the nation’s travel plans, with last month’s UK air traffic control meltdown – which caused more than 2,000 flights to be axed &nda
  
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• Households could be eligible for a TV licence refund worth £159 - simple steps to claim

  09-09-2023 11:00 via express.co.uk
  
  Refunds are usually processed and issued within 21 days of application.
  
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• Is the BoE about to blow us all away by finally doing something RIGHT?

  09-09-2023 10:49 via express.co.uk
  
  The Bank of England has committed one policy error after another. Getting things wrong was beginning to look like its default position. Is it about to do perform a radical about-turn and do the right thing for once?
  
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• Pension saver uses transaction trick to pay for Avios upgrades for flight to India

  09-09-2023 10:00 via express.co.uk
  
  EXCLUSIVE: He was setting up a personal pension when he realised he could get some valuable cashback towards his business trip.
  
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• ChatGPT proxy scam warning as fraudsters steal personal details to blackmail victims

  09-09-2023 09:00 via express.co.uk
  
  EXCLUSIVE: Victims are duped into handing over very personal details including medical information.
  
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• ‘Be very afraid’: what I learned from a 26-hour Ryanair delay

  09-09-2023 09:00 via theguardian.com
  
  The Guardian’s former money editor endured two days of misery after he and others were bumped off an overbooked flight‘We paid £1,600’: UK passengers reveal flight cancellation woesHow to claim compensation for cancelled or delayed flightsOur summer holiday, in Spanish Galicia and northern Portugal, was glorious. But our return, on Ryanair, turned into disaster after the airline booked too many people on to the flight.What followed was two days of airport misery. Along th
  
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• ‘I’m a property expert - this is what I'm certain will happen to house prices in 2024'

  09-09-2023 08:01 via express.co.uk
  
  EXCLUSIVE: The sales market may be "reverting to a new normal" with more "reasonably" priced properties on offer, an expert has said.
  
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• ‘We paid out £1,600’: UK passengers reveal flight cancellation woes

  09-09-2023 08:00 via theguardian.com
  
  Airline eventually gives refund after wildfires; and passenger tells how Gatwick became a campsite‘Be afraid’: what I learned from a 26-hour Ryanair delayHow to claim compensation for cancelled or delayed flightsA family told the Guardian they were left £1,600 out of pocket after their flight to Sicily was cancelled six days before their summer holiday, forcing them to scrabble to make alternative arrangements.Juliet and Josh Stott and their daughters, aged 13 and nine, who liv
  
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• The fall of Woking: what happens after a council goes bust

  09-09-2023 08:00
  
  Woking declared itself bankrupt in June. Now, residents want answers as care, arts and leisure facilities face funding cutsOn a clear day, the council’s ambitious plan was for Woking’s tall buildings to be seen from the viewing levels of the Shard in London. Residents, however, view the unfinished towers with much less pride and a symbol of the Surrey town’s financial woes.Woking borough council this week announced a sweeping package of cuts to local services, after the local a
  
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• ‘It’s going to cost billions’: UK councils face huge bills over equal pay claims

  09-09-2023 08:00
  
  GMB union is supporting 3,000 claims in Birmingham – and is gathering evidence from 20 other councilsCouncils in the UK are facing compensation bills running into billions of pounds over equal pay claims, campaigners have warned, as they called on the government to intervene.The GMB union is supporting more than 3,000 equal pay claims against Birmingham city council, and has disputes against councils in Coventry, Westmorland, Cumberland, Glasgow, Dundee and Fife. Continue reading...
  
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• How to save £630 on energy bills with simple change to household appliance

  09-09-2023 07:00 via express.co.uk
  
  People with boilers with low efficiency ratings could reduce their bills by hundreds of pounds a year.
  
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• Chinese economy out of deflation but faces threat of relapse

  09-09-2023 05:02
  
  Slow domestic consumption, high youth unemployment and decline in exports among factors dragging on post-Covid recoveryChina’s consumer price index rebounded in August as the world’s second-largest economy emerged from deflation, official data released on Saturday suggested, despite sluggish domestic consumption that is complicating its post-Covid economic recovery.Last month’s CPI, the main gauge of inflation, rose 0.1% year on year, the national statistics bureau said. Contin
  
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