Financial news

• 'Drop the drip': Airlines urged to axe hidden travel charges

  09-10-2023 23:01 via express.co.uk
  
  EXCLUSIVE: Airlines urged to cut hidden additional fees for checked baggage, seat choices and access to fast-track services.
  
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• Rescue for customer caught in heating maintenance wrangle – The Crusader

  09-10-2023 18:17 via express.co.uk
  
  Keeping his gas central heating system up to scratch became arduous work for a conscientious homeowner who found himself caught in a limbo between two companies and then having his repairs cover cancelled.
  
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• Metro Bank gets another shot at redemption – but too late for the small shareholders | Nils Pratley

  09-10-2023 18:03
  
  Chief executive’s boast that there is nothing wrong with its business model will sound hollow to those nursing a 97% lossOnce upon a time, Metro Bank was going to shake up the old guard in the banking world via the radical strategy of opening branches while others were closing them. The talk was of simplicity, ease of doing business and free dog biscuits. An awful lot of retail shareholders bought into the hype, unfortunately, when Metro floated on the stock market at £20 a share in
  
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• Westland Nurseries expands with £1m Lombard funding

  09-10-2023 18:00 via express.co.uk
  
  Speciality veg grower Westland Nurseries expands sustainable production with £1million Lombard funding.
  
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• Glitter sales surge in Germany before EU microplastics ban this week

  09-10-2023 17:54
  
  Celebrities reportedly fuelling glitter hysteria with one Big Brother ex-contestant buying 82 packetsGerman reality TV personalities and influencers are reportedly driving a surge in sales of glitter and everything made with it, from nails to makeup, before an EU ban on loose glitter that is aimed at tackling pollution from microplastics.Many products containing glitter are to be banned from shops in the bloc from the end of this week, creating an unprecedented demand for them. Continue reading.
  
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• Mark Carney is ace in Rachel Reeves’ already strong hand against Tories

  09-10-2023 17:44
  
  Ex-Bank of England governor’s backing for shadow chancellor shows how far Labour’s economic message has travelledReeves: I’ll be iron chancellor who gets UK economy back on trackThe biggest news from Rachel Reeves at Labour’s annual conference was just after her speech. As many in the Liverpool convention centre began heading for the exits, the former Bank of England governor Mark Carney publicly backed the shadow chancellor.“It is beyond time we put her energy and
  
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• 'I went to bed with £1 in my savings account - and woke up to find £122,000'

  09-10-2023 17:42 via express.co.uk
  
  Bank customers are waking up to thousands of pounds being accidentally transferred into their savings accounts - and it's taking ages to realise the mistakes.
  
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• Air fryers and heated throws but no irons: Lakeland reveals latest home trends

  09-10-2023 17:28 via express.co.uk
  
  Lakeland reveals some radical lifestyle changes as we become less formal.
  
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• Toilet scrolling: how bathroom phone use plays havoc with your health

  09-10-2023 16:54
  
  Looking at your phone while on the loo isn’t just unhygienic. A gastroenterologist has warned it could result in haemorrhoids – or worseName: Toilet scrolling.Age: At least a decade and a half. Continue reading...
  
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• The Tories have squandered their advantage with working-class voters. Labour can win them back | Claire Ainsley

  09-10-2023 16:18
  
  To attract his party’s traditional supporters Starmer must give people hope that if they work hard, they will have a good lifeClaire Ainsley was Labour’s executive director of policy from 2020 to 2022Boris Johnson made history in 2019 by winning a majority of working-class vots for the Conservatives for the first time. But on current predictions, Keir Starmer will reverse Labour’s decline among Britain’s working class at the next election. This matters not just because La
  
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• Labour will restore economic credibility from 'Tory misrule', says Rachel Reeves – video

  09-10-2023 15:50
  
  The shadow chancellor, Rachel Reeves, said Labour would restore economic credibility after the 'wreckage of Tory misrule', at its party conference in Liverpool. Addressing delegates, Reeves said: 'I make this commitment to you, and to the country: out of the wreckage of Tory misrule, Labour will restore our economic stability. We will lift living standards, make work pay. Rebuild our public services. Invest in homegrown industries in every corner of our country. And together, we will get Britain
  
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• List of projects to be funded by HS2 money ‘only illustrative’, Sunak says

  09-10-2023 15:39
  
  Some schemes listed as being in line for funds from scrapped northern leg of HS2 were swiftly deleted while others are already completeA list of transport projects to be funded using HS2 money, which included schemes that had already been built or were swiftly deleted, was intended only to be “illustrative”, the prime minister has said.Speaking to the BBC, Rishi Sunak repeatedly dodged or refused to answer questions about the list, which was published alongside his announcement that
  
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• ‘I earn an extra £3,200 a year thanks to my green home - it’s a clear profit!’

  09-10-2023 15:22 via express.co.uk
  
  Households are adopting climate-friendly technologies into their home, such as solar panels, which is saving electricity and making them money.
  
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• Thousands could get £150 off energy bills - eligibility explained as deadline looms

  09-10-2023 15:20 via express.co.uk
  
  The scheme opens on Monday, October 16, 2023.
  
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• Claudia Goldin wins Nobel economics prize for work on gender pay gap

  09-10-2023 15:20
  
  Harvard professor becomes only the third woman to win the prestigious prizeBusiness live – latest updatesThe Harvard professor Claudia Goldin has won the Nobel economics prize in recognition of her groundbreaking work examining wage inequality between men and women.The Royal Swedish Academy of Sciences said on Monday that Goldin’s research “provided the first comprehensive account of women’s earnings and labour market participation through the centuries” to reveal &
  
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• Metro Bank to slash costs after £925m rescue deal

  09-10-2023 14:36
  
  Lender confirms customers have started to pull money out amid worries over its financial healthWhat is happening at Metro Bank?Metro Bank is launching a fresh cost-cutting drive after the embattled lender clinched a £925m rescue package from investors over the weekend.The high street lender said it was aiming to slash about £30m of costs a year from 2025 as part of the deal, which avoided a potential breakup or takeover by a rival UK bank. Continue reading...
  
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• Nationwide Building Society issues update on bank closures for all 605 branches

  09-10-2023 14:01 via express.co.uk
  
  Nationwide Building Society is committing to the high street at a time when major banks continue to close branches across the UK.
  
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• ‘Delays are costing lives’: the struggle to allocate US opioid settlement funds

  09-10-2023 14:00
  
  Distribution of New York’s $200m from pharmaceutical firms to combat the epidemic has stalled due to bureaucracy tie-upsThe woman on the phone had nowhere else to turn.“My son’s going to be calling. I already lost two sons this year. Help him, because I can’t have all three of my sons dying in one year,” she pleaded with the addiction support centre in Buffalo, New York. Continue reading...
  
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• Industrial policy is back – should we welcome government intervention? | Barry Eichengreen

  09-10-2023 13:51
  
  Joe Biden’s Inflation Reduction Act spurred similar efforts worldwide, but care must be taken when targeting subsidiesIndustrial policy is back. It is back with a vengeance in the US, where for decades the dominant ideology and policy minimised government efforts to influence the structure of the economy. Now, in contrast, we have the Infrastructure Investment and Jobs Act, the Chips and Science Act, and the Inflation Reduction Act, all with significant industrial policy components.And wha
  
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• DWP warns Britons to 'act quickly' or 'risk' losing benefits in major Tax Credits shake-up

  09-10-2023 13:40 via express.co.uk
  
  Tax Credits are due to be replaced by Universal Credit and some Britons may need to make a new claim to continue receiving support.
  
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• Climate crisis costing $16m an hour in extreme weather damage, study estimates

  09-10-2023 13:05
  
  Analysis shows at least $2.8tn in damage from 2000 to 2019 through worsened storms, floods and heatwavesThe damage caused by the climate crisis through extreme weather has cost $16m (£13m) an hour for the past 20 years, according to a new estimate.Storms, floods, heatwaves and droughts have taken many lives and destroyed swathes of property in recent decades, with global heating making the events more frequent and intense. The study is the first to calculate a global figure for the increas
  
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• The ex factor: Sam Bankman-Fried’s former girlfriend to testify in fraud trial

  09-10-2023 12:00
  
  Caroline Ellison, former CEO of Alameda Research, will take the stand as the prosecution’s star witness on ThursdaySam Bankman-Fried’s fraud trial is poised to take a dramatic turn Tuesday when government prosecutors call Caroline Ellison – the former CEO of Alameda Research and the FTX founder’s sometime-girlfriend – as their star witness.Ellison will take the stand after FTX co-founder Gary Wang completes his testimony, prosecutors said on Friday in Manhattan fede
  
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• Oil price leaps and airline shares fall after Hamas attack on Israel

  09-10-2023 11:37
  
  Investors predict more instability in Middle East, as some flights to Tel Aviv are suspendedBusiness live – latest updatesIsrael and Hamas at war – live updatesOil prices rose on Monday and airline shares fell as markets reacted to the surprise attack on Israel by the militant group Hamas.The Israeli prime minister, Benjamin Netanyahu, said Israel was embarking on a “long and difficult war” against Hamas. The death toll has risen above 1,100 since fighting started on Satu
  
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• ‘Many people still need support’: how a Ukrainian refugee helps others fleeing the conflict

  09-10-2023 10:59
  
  Like millions of other Ukrainians, Veronika Riepina had to leave her country behind. Now, having found refuge in the UK, she is working with the British Red Cross to assist new arrivals – and looking forward to the day she can return homeTwo years ago, Veronika Riepina was a typical 23-year-old. She was renting an apartment in Kyiv, working hard to make her way in the film industry, and making plans to apply for funding to shoot her own documentary project. She was thrilled to work on Do Y
  
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• Bank increases interest on saver to market-leading 5.97% and earns 'excellent' rating

  09-10-2023 09:29 via express.co.uk
  
  JN Bank's new deal has scooped the top spot in the market for three-year fixed savings accounts.
  
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• What to do when you think you have been scammed

  09-10-2023 08:00
  
  Speed is of the essence, so here are some steps to follow if you suspect fraud‘I lost £240,000’: fraud victims share their storiesSix common scams – and how to avoid themMartyn James, a consumer rights expert, says most scams involve getting you to transfer money directly or obtaining enough personal information to access your bank account, or using private details to start a new account under your name – also known as identity fraud. Continue reading...
  
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• We’ve bought a house in Greece – will we pay tax if we sell our UK home?

  09-10-2023 08:00
  
  Owning the two properties is part of our transition into retirementQ My wife and I live in a house in the UK which we own together. Recently, we jointly bought a property in Greece with the ultimate intention of moving there on a permanent basis once we have both retired.In the meantime, I may spend increasing amounts of time at the house in Greece as I will be retiring soon. My wife is not ready to retire and intends to continue working, possibly on a six-monthly on/off basis, spending her off
  
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• UK manufacturers call for ‘major MOT’ of business tax and regulation system

  09-10-2023 08:00
  
  Report says many aspects make companies uncompetitive, as chancellor Jeremy Hunt is urged to make reformsBritain’s manufacturers are urging the chancellor, Jeremy Hunt, to announce a “major MOT” of the UK’s “uncompetitive” business tax and regulatory system in his autumn statement next month.Many aspects of the system are “not fit for purpose”, the business group Make UK said in a report published in the middle of the political party conference sea
  
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• I’ve been waiting months for Virgin Money to look at my £18,500 claim

  09-10-2023 08:00
  
  Getting the banks to pay a section 75 refund is often a slow and long-winded processIn December 2022, I used my Virgin Money credit card to pay £500 towards an £18,500 order for a large quantity of insulated concrete blocks. These were to be used in the self-build construction of my house. The rest of the money was paid by bank transfer.Six months later, and before the blocks had been delivered, I was informed that the supplying company, Insul Hub, had ceased trading and was going in
  
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• From frumpy sandal chic to mainstream appeal: will Birkenstock IPO be a perfect fit?

  09-10-2023 07:00
  
  Recent footwear flotations have not fared well but German brand hopes to buck trend with multibillion listing in USIt may be hard to believe but Birkenstocks were once seriously unfashionable, the go-to footwear of hippies willing to sacrifice style for arch support. Now those early adopters of frumpy sandal chic stand to be vindicated as the German shoemaker tries to bank its now mainstream appeal with a multibillion-pound listing.But will this week’s flotation in New York – which i
  
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