Financial news

• Goldman Sachs issues recession warning as ‘Sick Man of Europe’ Germany falls into crisis

  19-09-2023 23:48 via express.co.uk
  
  The global financial institution broke down the various factors contributing to Germany's recession woes.
  
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• Santander raises savings interest rates to 5.60 percent - list of accounts for September

  19-09-2023 20:40 via express.co.uk
  
  Savings interest rates are on the rise thanks to the decision-making of banks, such as Santander.
  
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• Amazon’s Prime Big Deal Days explained: What to know about the next big savings event

  19-09-2023 19:49 via express.co.uk
  
  Shoppers will be able to buy the latest products for a cheaper price as part of Amazon's Prime next exclusive event.
  
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• Now it’s clear: hard work doesn’t make you rich. Surely that’s the death knell for the myth of social mobility | Faiza Shaheen

  19-09-2023 18:07
  
  Where you are born in the UK and the wealth of your family are the key factors thatdetermine life outcomes, new figures revealEvery parent wants their child to reach their full potential and flourish: my mum called me Faiza because it means “winner” in Arabic in the hope that success would be inevitable. It’s an emotion that runs deep, and one that politicians across the spectrum are keen to tap into, for ever promising to build an “aspirational” or truly “mer
  
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• H&M is latest fashion retailer in UK to charge to return online purchases

  19-09-2023 16:05
  
  Rise in delivery and processing costs combined with increased use of free returns leads to £1.99 chargeThe Swedish chain H&M has become the latest in the fashion sector to start charging shoppers to return unwanted items bought online.The group, the world’s second-largest clothing retailer after Zara-owner Inditex, will charge £1.99 to take back items that are not damaged or faulty – either in stores or by post. Continue reading...
  
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• Aldermore boost interest rates on ISAs and other savings accounts

  19-09-2023 15:56 via express.co.uk
  
  Aldermore has increased its rates on its easy access and notice accounts to help Britons grow their savings.
  
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• B&Q owner cashes in as Britons improve homes rather than move

  19-09-2023 15:04
  
  Kingfisher says people are staying put as mortgage interest rates and household bills soarBritish consumers are continuing to spend on improving their homes and gardens as an alternative to moving home amid soaring mortgage rates and a surge in household bills, according to the owner of B&Q and Screwfix.Sales at Kingfisher’s UK and Irish business rose 1.7% in the six months to the end of July as homeowners bought 11% more insulation materials at B&Q in an attempt to offset winter h
  
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• Pensions law change approved that will increase a person's contributions by £500 a year

  19-09-2023 14:24 via express.co.uk
  
  Pensions auto enrolment is to be expanded to all workers aged 18 and over and regardless of how much they earn.
  
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• 'Calamity' Liz Truss brought UK to brink of meltdown but has she got one thing right?

  19-09-2023 11:24 via express.co.uk
  
  Former Prime Minister Liz Truss is desperately trying to rewrite history by blaming everybody else for her calamitous stint as PM.
  
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• Building Society launches fixed regular savings account with competitive 6.2% interest

  19-09-2023 09:33 via express.co.uk
  
  The Tipton and Coseley Building Society customers can now benefit from one of the highest interest rates available for a regular savings account.
  
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• Property over people? New York City’s $52bn plan to save itself from the sea

  19-09-2023 08:00
  
  A decade after Hurricane Sandy, critics of a federal plan that allocates billions to protect the region from rising waters are calling it a ‘failure of imagination’Retired FDNY firefighter Patrick Kilgallen remembers the night well. In late October 2012, the approach of Hurricane Sandy up the US Eastern Seaboard coincided with a spring tide, propelling a surge of storm water that crashed into New York City and its surrounds, causing more than $70bn (£56bn) in damages, mostly fr
  
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• ID anomaly left me in the dark over Blue Light discount card

  19-09-2023 08:00
  
  I am a social worker and used it for shopping but now I’m retired I can’t renew itUntil recently I worked as a social worker and benefited from the Blue Light Card discount scheme for public service employees. I used it to save money on my weekly shop in Asda, as well as in high street stores such as Next.I retired last summer and when I attempted to renew my card I was turned down. While retired members of the armed forces, police, fire service and NHS are still eligible, social car
  
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• Sadiq Khan says hundreds of thousands spent on anti-Ulez Twitter manipulation

  19-09-2023 07:00
  
  Mayor of London expected to tell social media firms of campaign and urge them to ‘bear down on the attempts to distort truth’Sadiq Khan is expected to claim that “hundreds of thousands of dollars” were spent on an anti-Ulez online manipulation campaign on Twitter, citing research conducted after Labour’s unexpected Uxbridge byelection defeat.The London mayor, who will speak at a conference in New York on Tuesday, said he feared that disinformation and manipulation c
  
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• Loose lending and inadequate auditing: central government’s role in the local council disaster | Nils Pratley

  19-09-2023 07:00
  
  Councils’ decision-making caused the worst failures, but lack of Westminster oversight is also to blameImagine a situation in which most companies on the London Stock Exchange had failed to file their report and accounts on time, with several behind on their paperwork by multiple years. Then further imagine that one explanation for the delays was that the UK doesn’t have enough auditors with the right skills, and that the body that used to do most of the work was abolished in 2015. T
  
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• Young people ditching ambitions over UK cost of living crisis, research finds

  19-09-2023 06:00
  
  Survey of 18- to 24-year-olds for Prince’s Trust found two-thirds had lowered their career expectationsYoung people are abandoning their dreams and ambitions because of the cost of living crisis and mental health concerns, new research has found.Harbouring hopes for an enjoyable career that makes them financially secure seems unimaginable and too risky, with young people saying they are only able to plan for the short term: half of those surveyed said they were not able to think beyond the
  
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• Daring or delusional? Starmer seeks to woo Europe with talk of new Brexit deal

  19-09-2023 06:00
  
  Labour leader to meet Emmanuel Macron amid his international tour to test appetite for closer ties to EUKeir Starmer is to meet Emmanuel Macron as he begins to prepare the ground for a potential renegotiation of the UK-EU trading agreement in 2025.The Labour leader will meet the French president at the Élysée Palace in Paris on Tuesday on the latest leg of an international tour, which has taken in The Hague and Montreal. Continue reading...
  
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• European governments shrinking railways in favour of road-building, report finds

  19-09-2023 02:01
  
  Rail networks in most countries have been starved of funding while motorways lengthen, study showsEuropean governments have “systematically” shrunk their railways and starved them of funding while pouring money into expanding their road network, a report has found.The length of motorways in Europe grew 60% between 1995 and 2020 while railways shrank 6.5%, according to research from the German thinktanks Wuppertal Institute and T3 Transportation. For every €1 governments spent bu
  
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• Football fans received 11,000 gambling messages in Premier League opening weekend

  19-09-2023 01:01
  
  Study for 5 News warns of ‘overwhelming and inescapable’ betting imagery in the gameFootball fans were bombarded with 11,000 gambling messages during the opening weekend of the latest Premier League season, according to a study that warns of “overwhelming and inescapable” betting imagery in the game.Clubs in the top flight agreed earlier this year to ban gambling firms from sponsoring the front of players’ shirts from 2025, but the research – which analysed so
  
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• Climate activists block Federal Reserve bank, calling for end to fossil fuel funding

  19-09-2023 00:54
  
  Action came as world leaders begin arriving in New York for the UN general assembly and after Sunday’s march to end fossil fuelsOne day after the largest climate march since the start of the Covid-19 pandemic, hundreds of climate activists blockaded the Federal Reserve Bank in New York to call for an end to funding for coal, oil and gas, with police making scores of arrests.“Fossil fuel companies … wouldn’t be able to operate without money, and that money is coming prima
  
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