Financial news

• Savings warning as a third of UK adults have less than £500 in emergency funds

  12-03-2024 23:01 via express.co.uk
  
  Eight-million UK customers also reveals that adults are relying more on credit to meet their daily expenses.
  
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• The Guardian view on nurseries: build playgrounds for toddlers, not investors | Editorial

  12-03-2024 19:34
  
  Opaque ownership structures and bumper profits point to an early years sector gone wrongChildcare and nursery education in England is in the process of being transformed. Following ministers’ decision to make it a priority as a way to tackle labour shortages, public funding is set to double by 2027-28. In a few years 80% of all early years places will be government-funded, compared with 50% today. At the same time, pressure on providers caused by long-term underfunding and rising costs has
  
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• UK mortgage arrears rose 9.2% in 2023 last quarter amid ‘surge in borrowing costs’

  12-03-2024 18:15
  
  Mortgage balances with some arrears at highest value since late 2016, Bank of England data showsMortgage arrears jumped by 9.2% in the final quarter of 2023 and by 50% on the previous year, according to Bank of England figures that underscore growing stress in the UK mortgage market.High interest rates and the rising number of people quitting the jobs market over recent months have put pressure on household disposable incomes, forcing some families to cut or suspend a range of monthly bills, inc
  
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• Boeing whistleblower found dead in South Carolina

  12-03-2024 17:50
  
  John Barnett was one of several people who raised alarm in 2019 about concerns of safety lapses at Boeing’s North Charleston plantA former quality manager at Boeing who became a prominent whistleblower and raised concerns over the planemaker’s production line has been found dead.John Barnett died on Saturday from what appeared to be a self-inflicted gunshot wound, according to officials in Charleston, South Carolina.In the US, you can call or text the National Suicide Prevention Life
  
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• Three arrested in £76m luxury care home fraud investigation

  12-03-2024 17:44
  
  Serious Fraud Office raided sites in Dorset and Bucks as part of inquiry into Carlauren GroupThe Serious Fraud Office has raided two sites and made three arrests as part of a new investigation into an alleged £76m fraud around investments into luxury care homes.The raids in St Leonard’s, in Dorset, and Aylesbury, in Buckinghamshire, form part of an investigation into a UK property developer called the Carlauren Group, which collapsed into administration in November 2019. Continue rea
  
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• Virgin Money bosses in line for £6m if Nationwide takeover goes ahead

  12-03-2024 17:37
  
  Chief executive David Duffy would be biggest winner on £3.5m, with large paydays for about 12 other staff if deal goes throughBanking bosses at Virgin Money are in line for a £6m windfall if Nationwide Building Society pushes ahead with a proposed takeover of the lender, with more than half of that sum to be pocketed by its longtime chief executive, David Duffy.Public shareholder data suggests that 13 executives, board members and senior staff are poised for big paydays from the pote
  
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• OpenAI calls Elon Musk’s lawsuit ‘frivolous’ and ‘incoherent’ in legal filing

  12-03-2024 17:10
  
  The Tesla CEO’s suit says the company abandoned founding mission of openly sharing its technology to better humanityOpenAI denounced Elon Musk’s lawsuit against the company in a legal filing on Monday, describing the Tesla CEO’s claims as “frivolous” and intended only “to advance his commercial interests”.The filing, a response to Musk suing OpenAI earlier this month over allegations that it abandoned its pledge to help humanity, rejects many of the core
  
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• HMRC urges parents to make 'quick' check to claim up to £4,000 support

  12-03-2024 17:02 via express.co.uk
  
  Parents are being "urged" to check if they can save some money on their bills.
  
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• Come clean on secret taxpayer rescue plans for Thames Water, MP demands

  12-03-2024 17:00
  
  Exclusive: Sarah Olney to press in parliament for details of scheme being drawn up in event of supplier’s collapse‘I’ve seen solid waste float by’: residents try to Stop the PooMinisters must come clean on the secret details of an emergency plan for a taxpayer bailout in the event of Thames Water collapsing, a Liberal Democrat MP has said.Sarah Olney will press in parliament this week for details of a behind-the-scenes rescue operation being drawn up for the biggest priva
  
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• HMRC urges hundreds of thousands of Britons to claim lost savings worth £2,000

  12-03-2024 16:12 via express.co.uk
  
  HMRC said almost 430,000 people could still be yet to claim their savings.
  
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• Telegraph and Spectator takeover: News Corp and Mail owner consider bids

  12-03-2024 15:46
  
  Planned acquisition by UAE-backed RedBird IMI is being considered by the culture secretaryBusiness live – latest updatesMedia groups have reportedly shown fresh interest in a takeover of the Telegraph and Spectator alongside Redbird IMI, the UAE backed consortium.Bloomberg said Rupert Murdoch’s News UK and DMGT, which owns the Daily Mail, have shown interest in the Telegraph and Spectator assets as Lucy Frazer, culture secretary, considers reports submitted by competition and media r
  
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• How did Norway become the electric car superpower? Oil money, civil disobedience – and Morten from a-ha

  12-03-2024 15:41
  
  More than 90% of new cars sold in Norway are electric. And it all started with some pop stars driving around in a jerry-built Fiat PandaI’m kneeling on the snow outside the king’s house, impersonating a 1980s heart-throb, with a man named Harald and an electric car. It’s a situation that probably needs some explanation.Harald isn’t the king, although the king of Norway is also called Harald; we just happen to be outside the monarch’s residence, a handsome red manor.
  
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• Car insurance claims skyrocket by 33 percent due to storms and flooding

  12-03-2024 15:25 via express.co.uk
  
  2023 saw a total of 541 weather-related claims which equates to a 33 percent increase year-on-year.
  
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• State pension fury boiling over as campaign demands increase of basic to full £203

  12-03-2024 15:01 via express.co.uk
  
  Thousands of people have already backed the campaign.
  
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• Why those profiting from childcare in England need to be kept in check

  12-03-2024 15:00
  
  An expansion of state funding makes the market even more attractive for investors but rigorous oversight is neededRevealed: the bumper profits taken by English private nursery chainsFor working parents or guardians of young children, arranging childcare can be the source of untold stress.Whether it is the logistical wrangle of pickups and drop-offs, nagging anxiety about whether it is the right decision, not to mention the sheer punishing cost, childcare is up there with life’s most arduou
  
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• Revealed: the bumper profits taken by English private nursery chains

  12-03-2024 15:00
  
  With more public money on its way, Joseph Rowntree Foundation calls for commitments on value for money and staff payWhy those profiting from childcare in England need to be kept in checkCampaigners are calling for tougher regulation of the childcare market to safeguard taxpayers’ money, as new analysis shows more than £1 in every £5 spent at English nurseries backed by large investment companies ends up as profit.Jeremy Hunt announced an extra £500m funding in last week&r
  
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• British ISA giving Britons £5,000 extra in allowance faces major delay

  12-03-2024 14:19 via express.co.uk
  
  Plans to launch a new "UK ISA" to invest in British businesses were announced in Jeremy Hunt's Spring Budget.
  
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• US inflation ticks up as Biden puts economy at heart of re-election bid

  12-03-2024 14:06
  
  Consumer price index rose at annual pace of 3.2% in February, up slightly from 3.1% the previous monthUS politics – latest updatesInflation ticked higher across the US last month as Joe Biden puts the economy at the heart of his re-election bid.The consumer price index rose at an annual pace of 3.2% in February, up slightly from 3.1% the previous month. Continue reading...
  
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• Mortgage arrears surge by 50.3% in just one year sparking home repossession fears

  12-03-2024 13:54 via express.co.uk
  
  The value of outstanding mortgage balances in arrears is over 50 percent higher than it was a year ago.
  
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• 'I'm a pensioner and I lost £96,000 to scammers in the space of just one cold call'

  12-03-2024 12:50 via express.co.uk
  
  The scams can be hard to identify and very persuasive - and can take "years" before people realise something's wrong.
  
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• Jeremy Hunt is Chancellor in name only. This shadowy figure is really dictating our taxes

  12-03-2024 12:49 via express.co.uk
  
  Chancellor Jeremy Hunt may have sounded like he was still running the country's finances when he delivered last week's Budget, but it was only an illusion.
  
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• UK watchdog plans formal investigation into vet pricing

  12-03-2024 12:32
  
  Large chains could be squeezing out independent practices, says Competition and Markets AuthorityBusiness live – latest updatesThe UK competition regulator is preparing to launch a formal investigation into the veterinary market after identifying “multiple concerns” in an initial review, including that pet owners may be overpaying for treatments and medicines.The Competition and Markets Authority (CMA) said it wanted to move forward with a full review after an initial inquiry t
  
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• American dream of owning a home is dead, majority of renters say

  12-03-2024 12:00
  
  Exclusive: most renters surveyed by Harris Poll say the areas they live in have become so unaffordable they are ‘barely livable’The American dream of owning your own home is dead, according to the majority of renters surveyed in a new poll shared exclusively with the Guardian, and the areas they live in have become so unaffordable they are “barely livable”.The poll, conducted by the Harris Poll Thought Leadership and Future Practice, asked survey takers to identify themse
  
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• UK’s weak economy is taking a toll on its labour market

  12-03-2024 09:29
  
  Most employers are holding on to staff, but more people are either not looking or not available for workUK unemployment rises and wages growth falls in recessionBusiness live – latest updatesBy historical standards Britain’s current recession is a mild one, but even so weak activity is starting to take its toll on the labour market.Nothing dramatic is happening. Unemployment is up a bit but the jobless rate remains below 4%. The number of people employed fell slightly and job vacanci
  
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• UK unemployment rises and wages growth falls in recession

  12-03-2024 09:23
  
  Employers cut back on hiring new staff in three months to January as slowdown bitesAnalysis: UK’s weak economy is taking a toll on its labour marketBusiness live – latest updatesUnemployment rose and wage growth slowed in the three months to January as the UK labour market showed signs of weakness, reflecting a broader slowdown in the economy.The unemployment rate rose unexpectedly to 3.9 in January from 3.8% in December according to the Office for National Statistics, while annual a
  
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• Renault wants to charge £7,500 to fix my Zoe electric car

  12-03-2024 08:00
  
  The charger was the only fault, but it would cost more than the car was worth to replaceWe have a 2017 Renault Zoe electric car which we bought secondhand from a friend in 2020. We were initially very pleased with it. However, in July 2023, it stopped charging. It still drove fine, and there was nothing else wrong with it.We live in north-west Scotland, and as none of the local garages will deal with EVs it had to go on a low-loader to the Renault dealership in Inverness. Continue reading...
  
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• How to succeed at the ‘no-spend’ challenge

  12-03-2024 08:00
  
  Get a grip of your outgoings, set a goal and know what you spend on and why. And ask ‘do I really need it?’The rising cost of living has placed huge pressure on household finances, so taking a no-spend challenge can help you to get a grip on your outgoings. You still pay for essentials, such as your mortgage and utility bills – the focus is on cutting out any extra spending on unnecessary items, whether it’s takeaway coffees, clothes or impulse buys. Continue reading...
  
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