Financial news

• UK inflation: which everyday items have fallen in price most?

  19-06-2024 17:58
  
  The cost of gas, electricity and garden furniture has plunged … but cocoa and vets’ services cost a lot more• Labour says pressure on family finances still acute as inflation falls to 2%The UK’s annual inflation rate fell to 2% in May, in line with the forecasts of City economists.The Office for National Statistics compiles the overall reading using the consumer prices index but also logs prices for individual goods and services. Here we look at how the cost of many of th
  
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• Labour says pressure on family finances still acute as UK inflation falls to 2%

  19-06-2024 11:56
  
  Rachel Reeves warns cost of living crisis is not over, as inflation hits official target for first time in three yearsBusiness live – latest updatesUK election live – latest updatesThe shadow chancellor, Rachel Reeves, has said pressure on household finances remains “acute” despite official figures showing inflation fell to 2% in May, returning to the official target rate for the first time in nearly three years.The Office for National Statistics (ONS) said the consumer p
  
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• Upbeat inflation news may be too little, far too late for Sunak

  19-06-2024 09:29
  
  It will take time for voters to forget the financial toll from the highest inflation in four decades – and time is not on the PM’s sideBusiness live – latest updatesUK election live – latest updatesAfter almost three years, the UK’s annual inflation rate is back to the government’s 2% target. That ought to be good news for Rishi Sunak and the Conservatives – but given the state of the opinion polls it looks like being far too little, far too late.First t
  
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• UK inflation falls back to official 2% target as food prices rise at slowest rate since 2021 – business live

  19-06-2024 08:17
  
  Inflation returns to target for first time since July 2021; core inflation excluding food and energy also slowsIt is the first time inflation has met the Bank of England’s 2% target since July 2021.This was mainly because food price rises have eased. Prices of food and soft drinks rose by 1.7% in the year to May, down from 2.9% in April, and the lowest rate since October 2021. Continue reading...
  
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• UK inflation falls back to official 2% target – business live

  19-06-2024 08:03
  
  Core inflation excluding food and energy also slowsInflation in the UK has fallen to an annual rate of 2%, as expected.It’s down from 2.3% in April, according to the Office for National Statistics. Continue reading...
  
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• My husband died, and now I can’t access our savings or sell our house

  19-06-2024 08:00
  
  I feel trapped as I can’t access my savings or sell my house. I’m in despairMy husband died in May 2022 at the age of 52, leaving me and our three children. I applied for probate over a year ago but, even though I have complained, it has still not been granted. I feel in total despair at the Kafkaesque situation I am in.Whilst, thankfully, we have capital to live on (our bank transferred our joint accounts into my name), I’m not able to access and organise other savings, or sel
  
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• GMB to visit Amazon’s Coventry depot to hold vote for union recognition

  19-06-2024 08:00
  
  Officials will arrive at tech firm’s West Midlands site on Wednesday to begin a legally binding ballot processAmazon workers in the UK have come a step closer to gaining union recognition for the first time as officials from the GMB visit the tech firm’s Coventry depot to kick off a month-long ballot process.Officials from the union will visit the West Midlands site on Wednesday after the GMB was granted the right to hold the legally binding ballot by the independent Central Arbitrat
  
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• Unsecured household debts set to rise by 9.4% this year, TUC says

  19-06-2024 06:01
  
  Largest annual rise since records began in 1987 sees forecast of average £1,660 extra debt amid cost of living crisisUK households are expected to rack up extra unsecured debts of more than £1,600 this year, including on loans and credit cards, as the cost of living crisis continues to bite, according to a TUC analysis.The TUC said its analysis showed that unsecured household debt – including loans and credit cards but excluding mortgages and, for this exercise, student loans &
  
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• Oceans group takes UK government to court over oil and gas licences

  19-06-2024 06:00
  
  Issuing licences in the North Sea without accounting for environmental impact was unlawful, Oceana UK saysA marine conservation group has initiated legal action against the UK government, claiming the Conservatives’ decision to issue North Sea oil and gas licences without taking into account their impact on the environment was unlawful.Oceana UK, part of an international conservation organisation, said that in issuing 82 licences, Claire Coutinho, the secretary of state for energy security
  
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• Labour pledges to strengthen economic watchdog within first 100 days

  19-06-2024 06:00
  
  Exclusive: Changes early in expected new government intended to stop repeat of catastrophic Truss mini-budgetLabour has challenged the Conservatives to match its commitment to strengthen the economic watchdog within the first 100 days of government.Rachel Reeves, the shadow chancellor, has pledged to introduce legislation giving the Office for Budget Responsibility greater powers in Labour’s first king’s speech. Continue reading...
  
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• Australian mining magnate Andrew Forrest can sue Meta over Facebook scam ads, US court rules

  19-06-2024 00:13
  
  The Australian mining magnate can try to prove that Meta was negligent in allowing scam ads on Facebook, judge saysFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastA US judge has rejected Meta Platforms’ bid to dismiss a lawsuit by billionaire Australian mining magnate Andrew Forrest over scam Facebook advertisements that use his likeness to promote fake cryptocurrency and other fraudulent investments.In a decisi
  
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• Tory donor who gave Boris Johnson £500,000 urges public to vote Labour

  19-06-2024 00:02
  
  John Caudwell, the Phones4U founder, says he is ‘rather despairing’ about Conservatives after 51 years of supportA Conservative party donor who donated £500,000 to Boris Johnson’s compaign in 2019 has announced he will vote for Labour in next month’s general election.John Caudwell, who founded the mobile phone retailer Phones4U, made the announcement on Tuesday evening, in comments first reported by the Times and the BBC. Continue reading...
  
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