Financial news

• The inheritance tax debate we should really be having? Whether to set it at 100% | Zoe Williams

  25-09-2023 18:10 via theguardian.com
  
  Supposedly, Rishi Sunak stands to gain from his proposed tax reforms. Newsflash: he was never going to lose out in our rigged system anywayAccording to the Labour party, if Rishi Sunak goes ahead with his planned changes to inheritance tax, he will save himself £300m. Does that refer to what he will inherit from his in-laws, or is it how much he will save after he’s dead? Are we forgetting that changes to tax law are hardly immutable and, thinking about it, it is unlikely that any of
  
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• My ex-husband is buying me out of our former home – do I need to pay tax?

  25-09-2023 12:43 via theguardian.com
  
  We have told the lender, but I’m wondering whether there will be any tax implications such as CGTQ I have a tenant in common mortgage with my ex-husband on our former marital home that he has been living in. He is now in a position to buy me out of the property and will either continue to pay the small mortgage or pay it off in full.We have agreed the price and have started the process of contacting the mortgage lender and so on but I was wondering whether this “sale” would hav
  
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• Dilemma for Muslim homebuyers compelled to pay a high price for loans

  25-09-2023 10:00 via theguardian.com
  
  Sharia-compliant deals cost thousands more than a regular mortgage, come with stricter rules, and can slow down a saleMuslims who want to secure a home loan in line with their religious beliefs face the prospect of paying much higher interest rates than if they took out a conventional mortgage.Those who want a sharia-compliant loan are looking at up to 9% rates – far above the 6% interest that standard mortgages are hovering around. Continue reading...
  
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• Aldi reports record UK sales as shoppers change habits in cost of living crisis

  25-09-2023 09:32
  
  Discount chain says it has attracted an extra 1 million customers to its 1,000 UK stores in the past yearAldi has reported record sales in the UK last year, which the chain attributed to shoppers hunting for discounted groceries as food costs soared during the cost of living crisis.The retailer said it had attracted an extra 1 million customers to its 1,000 UK stores over the past year, in what it said was a sign that shoppers were turning their back on established supermarkets. Continue reading
  
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• Andy Burnham: scrapping HS2 ‘would be disaster for north of England’

  25-09-2023 09:28
  
  Greater Manchester mayor urges Rishi Sunak to listen to leaders in north beforemaking decision on high-speed rail projectAndy Burnham, the greater mayor Manchester mayor, has urged ministers to talk to leaders in the north of England before scrapping HS2 and leaving it with “Victorian infrastructure” for the rest of the century.Burnham said he and the leader of Manchester city council, Bev Craig, would be writing to Rishi Sunak to say that while a re-phasing of the rail project might
  
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• UK economy hit by ‘renewed signs of stress’ as growth slows – business live

  25-09-2023 09:19
  
  Rolling coverage of the latest economic and financial newsGreat British slowdown has hamstrung our economy – thinktankIn the City, shares in gambling firm Entain have dropped by over 5% after it warned shareholders that online gaming revenues had been weaker than expected this summer.Entain said its net revenues had been hit by "adverse sporting results” during September, which hit its profit margins, the implementation of safer gambling measures, and “ongoing regulatory headwi
  
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• My ex-husband is buying me out of out former home – do I need to pay tax?

  25-09-2023 08:00
  
  We have told the lender, but I’m wondering whether there will be any tax implications such as CGTQ I have a tenant in common mortgage with my ex-husband on our former marital home that he has been living in. He is now in a position to buy me out of the property and will either continue to pay the small mortgage or pay it off in full.We have agreed the price and have started the process of contacting the mortgage lender and so on but I was wondering whether this “sale” would hav
  
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• Labour to stand firm on net zero policies and attack cost of Tory retreat

  25-09-2023 08:00
  
  Party will argue green growth is route to lower bills and says Rishi Sunak will leave UK stuck in economic ‘doom loop’Labour will “double down” on making the case that tackling the cost of living crisis and the climate crisis can only be done in tandem, despite an intensifying Conservative attack on net zero policies, the Guardian has learned.Labour will argue that seeking green growth is the way to bring down household bills and secure the future of the UK economy. Conti
  
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• How to get the best life insurance cover

  25-09-2023 08:00
  
  It’s not for everyone, so check if you need it, then find the right policyLife insurance can provide financial help for your loved ones, and maybe help them make ends meet, in the event of your death. Continue reading...
  
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• Co-operative Bank seems to have lost £2,500 I sent abroad

  25-09-2023 08:00
  
  It was to fund a language laboratory but when the money didn’t arrive we knew there was a problemIn April I requested that the Co-operative Bank transfer £2,500 to a bank account in Palestine. Four months on, the money is lost.This was money collected by our local group, Bradford on Avon Friends of Palestine, and was to help pay the costs of a language laboratory set up in the city of Tubas. Continue reading...
  
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• Are you single or in a ‘hard-working family’? Your answer counts for a lot | Nesrine Malik

  25-09-2023 08:00
  
  There are millions of people struggling alone in the cost-of-living crisis – but they’re invisible to our politiciansBeing single today is less a description of your relationship status and more an economic state. Of course, being single was never easy: couples can split deposits, rent, insurance, energy bills and more. It is cheaper to do the food shop for two than it is for one, cheaper to share a car and split the cost of filling the tank, cheaper to share one internet bill and st
  
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• How can you really get to know a person? Ask to see their loyalty cards | Emma Beddington

  25-09-2023 07:55
  
  I’m akin to a microchipped dog, tracked by retailers who know my every like and dislike. My desire for a discount clearly overrides my unease at parting with my informationShow me your loyalty cards and I’ll tell you who you are. I’ve got Waitrose, plastic and app – the middle-class membership card – and Nectar, although somehow never when I need it. There is Lakeland (middle-age membership), and I am custodian of the household holy of holies, the Go Outdoors card a
  
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• Unilever to make payments to Kenyan tea pickers over 2007 plantation attacks

  25-09-2023 07:00
  
  UK law firm Leigh Day says money given to 77 workers for murders and rapes ‘sidesteps’ multinational’s responsibility over attackUnilever is to make payments to 77 tea pickers who worked on one of its plantations in Kenya that was targeted during post-election violence in 2007.The UK law firm Leigh Day, representing the workers, said the London-based consumer goods multinational had agreed to make voluntary, or ex-gratia, payments to former workers at its subsidiary Unilever Te
  
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• How do we raise trillions of dollars to fight the climate crisis? The answer is staring us in the face | Gordon Brown

  25-09-2023 07:00
  
  Petrostates like Saudi Arabia and Norway have made staggering oil and gas profits. A simple levy could funnel money to the countries that need itAfter a summer of ever-more deadly floods, droughts and firestorms, two autumn summits – the G20 and the UN general assembly – have come and gone. Both failed to deliver the long-promised global plan to finance climate mitigation and adaptation. But as political leaders issue toothless and easily forgettable communiques, a potential breakthr
  
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• Record number of over-50s in UK working part-time, ONS data shows

  25-09-2023 06:00 via theguardian.com
  
  Analysis reveals 26% increase in the last decade of people over 50 working part-time as perspectives on work and retirement shiftRecord numbers of people in their 50s and older are in part-time work, according to new data from the Office for National Statistics, with one quarter of workers in their 50s working part-time.In what has been hailed as a paradigm shift in how we view work and retirement, the data reveals that 3.6 million older people are working part-time in the UK: a record high and
  
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• Lego abandons effort to make bricks from recycled plastic bottles

  25-09-2023 00:40
  
  Danish company says complications with non-oil-based materials would have entailed higher total carbon emissionsLego has stopped a project to make bricks from recycled drinks bottles instead of oil-based plastic, saying it would have led to higher carbon emissions over the product’s lifetime.The move, first reported by the Financial Times, followed efforts by the world’s largest toymaker to research more sustainable materials, as part of a wave of companies reassessing their contribu
  
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• Carmakers call on EU to delay 10% tariff on electric vehicle exports

  25-09-2023 00:00
  
  Manufacturers expect levy agreed in Brexit deal to hand chunk ofmarket to global firms, including ChinaCar giants including Renault, BMW and Mercedes-Benz have called on EU leaders to “act now” and delay plans for a 10% tariff on electric car exports from Europe.Renault’s chief, Luca de Meo, led the calls, saying that if the EU did not take action then policymakers would simply be “handing a chunk of the market to global manufacturers” including Chinese companies, w
  
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