Financial news

• Reality check: Sunak’s tax cut claims and Starmer’s pledges

  12-06-2024 23:05
  
  Rishi Sunak and Keir Starmer took questions from the public on Sky News on Wednesday. We examine their claims on tax, Rwanda deportations and NHS dentistsSunak and Starmer grilled on broken pledges but PM feels heat on trustRishi Sunak and Keir Starmer faced a live TV grilling on Wednesday evening, with first the Sky News journalist Beth Rigby and then a studio audience questioning the two men who hope to lead the country after the 4 July general election.Here are some of the claims made and whe
  
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• US settles for $4.47bn with now bankrupt crypto firm Terraform Labs

  12-06-2024 22:35
  
  Crypto firm was found liable for defrauding investors who lost nearly $40bn when its tokens collapsed in 2022Terraform Labs reached a $4.47bn civil settlement with the US Securities and Exchange Commission, after being found liable by a jury for defrauding cryptocurrency investors who lost an estimated $40bn when the TerraUSD and Luna tokens collapsed in 2022, leading to a disastrous downturn that affected the entire crypto industry.A proposed final judgment covering Terraform and its founder Do
  
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• Jeff Bezos once saved the Washington Post. Now he needs to do it again | Margaret Sullivan

  12-06-2024 20:55
  
  The paper’s reinvention, with the appointment of Will Lewis as publisher, is a mess – but there’s still time to turn things aroundGet Margaret Sullivan’s latest columns delivered straight to your inboxWhat’s the point of owning the Washington Post if it’s no longer the Washington Post? By that, I mean the iconic US newspaper whose storied reputation is based on holding powerful people and institutions accountable, all for the sake of democracy? The paper that
  
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• Federal Reserve holds interest rates at two-decade high as it waits for inflation to cool

  12-06-2024 20:17
  
  Instead of cutting rates, central bank keeps them between 5.25% and 5.5%, where they have been for nearly a yearThe Federal Reserve held interest rates at a two-decade high on Wednesday, as it awaits more signs of inflation cooling.Officials at the US central bank expect to cut rates just once this year, according to projections released on Wednesday after their latest two-day meeting. Continue reading...
  
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• The Guardian view on water privatisation: end an experiment that has failed | Editorial

  12-06-2024 19:43
  
  Labour should take lessons from the Netherlands, where public sector firms are funded by a state-owned bankThe private sector provision of water services in England is an oddity in the world: 90% of countries run state-owned operations. Even in Europe, it is the only country to have sold its water resources – including pipes, reservoirs, boreholes and treatment plants – to private owners, now mostly a collection of sovereign wealth, infrastructure and pension funds. The decision to p
  
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• Man, 46, arrested in connection with criminal investigation into PPE Medpro

  12-06-2024 19:06
  
  Suspect understood to have been arrested on suspicion of offences including conspiracy to commit fraudAn arrest has been made in connection with the criminal investigation into PPE Medpro, the company that was awarded large government personal protective equipment contracts during the Covid pandemic.In a statement, the National Crime Agency (NCA) said a 46-year-old man had been arrested at his north London home. Continue reading...
  
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• How will new EU tariffs on Chinese electric vehicles work?

  12-06-2024 19:00
  
  The tariffs are aimed at countering the alleged state support handed to China’s car manufacturing industry• EU to put tariffs of up to 38% on Chinese EVs as trade war loomsThe EU has told Beijing that it plans to impose new tariffs on imports of Chinese electric vehicles into the trading bloc, potentially triggering a trade war.So what are the details, how will it affect the industry and will the price of cars on the dealership forecourt be affected? Continue reading...
  
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• Legal & General to expand pensions and sell housebuilder Cala

  12-06-2024 11:46
  
  Insurance and asset management group’s new chief promises a ‘simpler’ business, focused on three divisionsThe new boss of Legal & General has announced a shake-up of the company, including a sharper focus on its booming pensions arm and putting its housebuilding business up for sale.The insurance and asset management group’s new chief executive, António Simões, a banker who started in January and previously worked for Santander and HSBC, promised a &ldqu
  
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• Co-op Bank customers voice anger as business payments taken twice

  12-06-2024 10:53
  
  Some users say they were forced into overdrafts because past transactions were repeatedBusiness live – latest updatesCo-operative Bank customers have hit out at the lender after a glitch led to payments being taken twice from some business accounts.Customers said they had been pushed into their overdrafts because of the problem, which has resulted in previous payments, sometimes made several weeks before, being duplicated. Continue reading...
  
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• Is my Samsung laptop not all it’s cracked up to be?

  12-06-2024 08:00
  
  My Galaxy Book 360 from Currys developed screen cracks while it was just sitting on a tableIn February I bought a Samsung Galaxy Book 360 convertible laptop from Currys and paid £1,279.After a couple of months, while sitting on a table overnight, it developed two hairline cracks across the screen. This device has never been dropped or damaged by me. Continue reading...
  
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• Deals on food and homemade toys: seven ways to cut the cost of cat ownership

  12-06-2024 08:00
  
  A cat will set you back thousands over its lifetime, but good insurance and buying secondhand can help you saveThe cost of owning a cat varies depending on the breed you get. It will set you back at least £11,100 to care for the average cat over its lifetime, according to pet charity People’s Dispensary for Sick Animals (PDSA). This includes the cost of insurance but doesn’t include additional vet bills for illness or injury. Continue reading...
  
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• Man who survived ebike fire that killed his family fights for change to UK law

  12-06-2024 01:01
  
  Scott Peden, whose partner and two children died after battery exploded, calls for compulsory regulationA man who narrowly survived an ebike battery fire that killed his partner and two children says he is tormented by grief and guilt but determined to fight to change the law to avoid similar tragedies.Scott Peden, 31, was placed in an induced coma for a month after suffering 15% internal burns when he tried to wrestle his burning ebike out of his Cambridge flat last June. He also smashed his he
  
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