Financial news

• John Lewis needs to pick up the pace on restructuring | Nils Pratley

  14-09-2023 19:27
  
  Every time the partnership lifts the lid on its challenges, there’s an echo of pre-overhaul M&S circa 2017Set your watch, then, for about half a decade’s time. Three years into an expensive five-year turnaround programme, the John Lewis Partnership says it will need an extra two years to arrive at the sunny uplands of a £400m annual profit.The figure is its definition of a “sustainable” return, meaning one that allows it to invest at a decent pace and pay the st
  
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• ‘I earn up to £81,000 a month from my easy side hustle - and only work 30 minutes a day’

  14-09-2023 19:16 via express.co.uk
  
  Platforms such as Esty are facilitating people to make a lot of money from simple side hustles.
  
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• Three out of 10 young adults in UK do not own or ever use an iron, poll finds

  14-09-2023 19:07 via theguardian.com
  
  In world of less formal dress codes and non-iron fabrics, trends report suggests ironing is for the over 45sIt was once an essential appliance that ensured you looked smart for work or college, but the iron is fast becoming obsolete as more relaxed dress codes mean turning up in rumpled clothing is no longer a faux pas.About 30% of 18- to 34-year-olds do not own an iron and “never iron their clothes”, according to consumer research. When asked why they did not possess an item conside
  
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• ‘I lost over £26,000 to cryptocurrency work-from-home scam - they have taken everything’

  14-09-2023 18:34 via express.co.uk
  
  Cryptocurrency scams are increasingly becoming common with fraudsters turning to new methods to trick victims.
  
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• US inflation soars to 3.7 percent as interest rate cuts ‘likely not on the horizon’

  14-09-2023 18:24 via express.co.uk
  
  Experts are warning that the Federal Reserve will likely not bring down interest rates after yesterday's inflation announcement.
  
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• Older people in the UK: share your views on the current state pension system

  14-09-2023 18:02 via theguardian.com
  
  We’re keen to hear the views of older Britons on the state pension triple lock, whether they think the current system is fair, and whether they financially rely on itMel Stride, the work and pensions secretary, has said that the triple lock for pensions is not sustainable in the very long term.Stressing that the government remains committed to it for now, he conceded that eventually it would prove too expensive. Continue reading...
  
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• UK e-bike users warned not to use incompatible chargers after fatal fire

  14-09-2023 16:21 via theguardian.com
  
  Coroner says blaze that killed London man probably caused by battery being plugged into charger with different voltageThe government has warned e-bike users to stop using incompatible chargers after a coroner found a man was killed when a battery plugged into the wrong device caught fire.Fire England, which is part of the Home Office, has issued instructions to consumers to use only manufacturer-approved batteries and chargers after the death in March of Mizanur Rahman. The 41-year-old died afte
  
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• UK mortgage war ‘under way’ as lender offers 4.99% fixed rate

  14-09-2023 16:06 via theguardian.com
  
  Brokers say borrower confidence likely to lift after the first below 5% deal surfaces since June with more offers likely soonA fixed-rate mortgage priced at below 5% has gone on sale for the first time since June as leading lenders announced a fresh wave of home loan reductions.Brokers said a mortgage rate war was “well and truly under way” and that the lower pricing should provide a boost to borrowers worried about the imminent end of their current deal, as well as would-be homebuye
  
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• I work in a supermarket and see how desperate some shoplifters are. My heart goes out to them | Anonymous

  14-09-2023 15:58 via theguardian.com
  
  Sharon White is right – theft is ‘epidemic’ on the British high street. But more security measures won’t fix our unequal societyWhen I got a job as a supermarket worker five years ago, I did not believe that shoplifting would be a problem. I am from west Africa, and I just couldn’t see how it would happen in Britain, where there is a benefits system, many opportunities and security guards in shops. But now, having witnessed and intervened in many shoplifting inciden
  
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• Shawbrook Bank increases interest on fixed ISA to 5.83% and earns 'excellent' rating

  14-09-2023 15:45 via express.co.uk
  
  Shawbrook has "improved its position" in the fixed savings market with a new interest rate increase this week.
  
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• Dodging death and immigration officers: 12 hours as a London fast-food rider – and all for £40

  14-09-2023 15:00 via theguardian.com
  
  A quarter of UK adults use firms such as Deliveroo, but few think about the cyclists who bring their takeaways. We joined one rider for a dayAs a delivery rider on a Friday night in Soho, you see it all: Savile Row tailors, Russian oligarchs, raucous hen parties, pub brawls, the lot. “You learn so much about how society works in this job,” says Shaffi, a 28-year-old rider from London, who has been working as a delivery rider in the capital, six days a week, for the past seven years.
  
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• ‘I’m a savings expert - here's what you need to know about ISAs including caveats’

  14-09-2023 14:57 via express.co.uk
  
  EXCLUSIVE: Money expert Liz Hunter explained the tax benefits that ISAs hold, the ‘best' types for different savings goals, and the "caveats" to watch out for.
  
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• UK ‘teetering’ on edge of a recession with wages and living standards ‘stagnant’

  14-09-2023 14:29 via express.co.uk
  
  EXCLUSIVE: The economy has been growing but has contracted in the most recent figures raising fears the UK could fall into recession putting at risk jobs and wage growth.
  
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• UK savers: have your spending patterns changed thanks to higher interest?

  14-09-2023 13:41 via theguardian.com
  
  We’d like to hear from householders in Britain whether their spending power has been uplifted by higher interest on their savingsWe’re interested in whether the spending patterns of Britons with larger amounts of savings have changed because of higher savings rates.We’d like to hear whether people with substantial savings have been making use of a recent increase of their spending power because their savings income has risen thanks to higher interest. Continue reading...
  
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• Mapped: Cities with the most punishing rent rises in Britain as average soars 10%

  14-09-2023 13:38 via express.co.uk
  
  Double-digit rental growth means rental affordability is now at its worst for over 10 years at 28.4 percent of gross earnings.
  
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• Tell us: have you started relying on cash for payments again in the UK?

  14-09-2023 11:46
  
  We want to speak to people who have recently started relying on notes and coinsagainPayments made using cash in the UK have increased for the first time in a decade, data shows.Reversing years of decline, the banking body UK Finance said the cost of living crisis had prompted many people to turn back to physical money to help them budget. Continue reading...
  
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• How the Italian mafia makes millions from tinned tomatoes – video

  14-09-2023 10:47
  
  If your tinned tomatoes come from southern Italy, it’s likely that organised crime had a hand in getting them from the farm to the supermarket shelf. The mafia controls much of the region's agribusiness, and it's big business, adding billions of euros to its yearly turnover. So how is the mafia making all this money, whentinned tomatoes are so cheap? Based on original reporting by Tobias Jones and Ayo Awokoya, Josh Toussaint-Strauss investigatesAre your tinned tomatoes picked by slave labo
  
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• Ford Money increases interest on fixed savings to 'most competitive possible' at 6.05%

  14-09-2023 10:17 via express.co.uk
  
  Ford Money has "taken action" to review its savings products against the wider market and is now offering one of the top rates for one-year fixes.
  
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• Are they waiting for the last ‘Waspi’ woman to die before deciding on compensation?

  14-09-2023 09:40 via express.co.uk
  
  If you wondered what happened to so-called "Waspi women" fighting the decision to hike the state pension age for women, well, they're still out there. And they're still fighting.
  
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• I need my Renault van repaired: our charity can’t function without it

  14-09-2023 09:30 via theguardian.com
  
  We take rescue dogs to schools, care homes and prisons for therapy – but we can’t do it without a vehicleI am the director of a charity, Paws for Progress, which takes rescue dogs into prisons, schools and care settings for therapy and training. We rely on a specially adapted 2018 Renault van, bought last year, to transport the animals. In March, it was discovered that the van needed a throttle body replacement. We had to spend £1,404 on parts and a repair was booked for mid-Ap
  
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• ‘Sting in tail’ as state pension triple lock hike drives millions into Hunt’s tax trap

  14-09-2023 08:00 via express.co.uk
  
  The state pension could rise by as much as £900 next year thanks to the triple lock but a "sting in the tail" will push millions into paying more tax while also losing valuable savings allowances.
  
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• Cash payments rise in UK as people seek ways to manage budgets

  14-09-2023 07:01 via theguardian.com
  
  Number of payments using coins and notes rose 7% last year amid cost of living crisis, after a decade of declineCash has mounted a comeback in the UK, with payments made using notes and coins increasing for the first time in a decade, data shows.Cash use has been in long-term decline, but the banking body UK Finance said the cost of living crisis had prompted many people to turn back to “tangible” physical money to help them manage their budgets. Continue reading...
  
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• Planned changes to pensions triple lock divide Tory MPs

  14-09-2023 06:00 via theguardian.com
  
  Some Conservatives insist policy is ‘sacrosanct’, while others are pushing for it to be overhauledMooted changes to the pensions triple lock have divided Conservative MPs. Some insist it is “sacrosanct”, while others are pushing for it to be overhauled at the next election.The future of a policy that had become a hallmark of recent Conservative governments appeared in doubt after Rishi Sunak three times refused to commit to retaining it at the next election. Continue read
  
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• New £1bn government upgrade to plug Great Britain’s draughtiest homes

  14-09-2023 01:01 via theguardian.com
  
  Households could save £400 a year on energy bills via means-tested insulation schemeHouseholds could save up to £400 a year on energy bills under a new means-tested scheme to insulate more than 300,000 of Great Britain’s draughtiest homes.The government is spending £1bn on grants for homes that have low energy efficiency ratings and are in lower council tax bands. Continue reading...
  
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