Financial news

• Tata cancels early closure of Port Talbot furnaces after Unite calls off strike

  01-07-2024 19:39
  
  Steelworks owner says withdrawal of threat of industrial action means it can continue to operate one furnace safelyThe owner of the Port Talbot steelworks, Tata Steel, has cancelled plans to begin shutting down both of the plant’s blast furnaces this week after Unite called off a strike, but cutbacks expected to cost 2,800 jobs will still go ahead later this year.Members of the union were scheduled to begin industrial action on 8 July, days after Indian-owned Tata began a wind-down process
  
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• PIP claimants could face 10-year wait for payment uplift as 70,000 potentially underpaid

  01-07-2024 19:01 via express.co.uk
  
  Tens of thousands of PIP claimants could be waiting up to 10 years to have their awards reviewed and potentially uplifted due to a severe backlog.
  
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• Warning £234 a week state pension won’t be paid to 450,000 people

  01-07-2024 17:54 via express.co.uk
  
  About 450,000 people will miss out on boosted state pensions of £234
  
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• Austerity was a disastrous political choice that we are still reeling from | Letters

  01-07-2024 17:41
  
  Readers respond to the economist Paul Krugman’s article about the effects of the Tories’ most defining policy during the coalition yearsPaul Krugman (How the ‘unforced error’ of austerity wrecked Britain, 28 June) hits the nail on the head when he says that there was no economic case for the austerity that the coalition government foisted on us in 2010, the effects of which are still with us. It was a political choice on the part of George Osborne and David Cameron to adv
  
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• Why everyone with a smart meter must take meter readings today for £120

  01-07-2024 17:09 via express.co.uk
  
  Everyone with a smart meter whether it's British Gas, Eon, OVO or Octopus Energy run must take a reading today
  
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• PIP revamp proposal sparks outrage as claimants could receive treatment instead of cash

  01-07-2024 16:50 via express.co.uk
  
  The proposed overhaul to Personal Independence Payments could see 1.4 million claimants be offered vouchers or treatment.
  
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• Thames Water accused of ‘chicanery’ over £150m dividend payment

  01-07-2024 16:46
  
  Debt-laden utility urged to show greater transparency as it faces investigation by industry regulator OfwatThames Water has been urged to show greater transparency over its finances and accused of “financial chicanery” after it emerged its board had approved a £150m dividend hours before its shareholders U-turned on providing emergency funding.The Guardian revealed last week that the board of the struggling water supplier agreed to the payout at a meeting on 27 March. Continue
  
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• DWP interest-free loans - how much you can receive and how to apply

  01-07-2024 16:07 via express.co.uk
  
  The DWP's Budgeting Loan is an interest-free loan, which can help people pay for essential items like rent, furniture or clothes
  
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• POLL: Should personal pension savings be available tax free? Vote now

  01-07-2024 16:05 via express.co.uk
  
  Rishi Sunak has signalled an incoming Conservative government would ensure that people whose only income is the state pension will not be liable for tax under what he calls a "Triple Lock Plus".
  
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• Meta accused of breaking EU digital law by charging for ad-free social networks

  01-07-2024 15:58
  
  European Commission objects to ‘pay or consent’ model for users of Facebook and InstagramThe European Commission has accused Mark Zuckerberg’s Meta of breaching the EU’s new digital laws with an advertising model that charges users for ad-free versions of Facebook and Instagram.Meta launched a “pay or consent” model last year in an effort to comply with the bloc’s data privacy rules, under which users pay a monthly fee for an ad-free version of Facebook
  
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• Parents of certain children could be eligible for DWP benefit worth nearly £200 a week

  01-07-2024 15:31 via express.co.uk
  
  Many parents could be eligible for a benefit to help with extra costs for their child
  
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• French market leaps amid hopes Le Pen will fall short of outright victory

  01-07-2024 14:21
  
  Euro rises against dollar as far right makes gains but investors believe result could have been worseShares on the French stock market have risen after the first round of voting in the country’s parliamentary election eased concerns about an outright victory for the rightwing National Rally (RN) party.The euro rose against the dollar, while the risk premium investors demand for holding French government bonds fell as the markets took the view that the result could have been worse. Continue
  
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• Brits to face new fees when spending or withdrawing cash abroad with Metro Bank

  01-07-2024 13:49 via express.co.uk
  
  In an email to customers last week, the high street bank shared that it would start charging customers a 2.99 percent fee on debit card transactions in Europe from August 29.
  
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• UK house prices still unaffordable for many people, says Nationwide

  01-07-2024 13:15
  
  High mortgage interest rates and soaring bills hitting affordability despite wages rising above inflationBusiness live – latest updatesHouse prices in the UK remain unaffordable for many households despite wages rising above inflation for the typical earner, Nationwide has said.Britain’s largest building society said prices had risen slightly in June amid the impact of higher mortgage costs, with a 0.2% month-on-month increase. Continue reading...
  
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• Twice as many Britons want tax rises as want cuts, survey finds

  01-07-2024 12:57
  
  Study reveals support for measures to maintain public services, regardless of impact on household financesTwice as many Britons support tax increases to pay for public services as those who believe they should be reduced even if it means further public service cuts, according to new a report.A study released by abrdn Financial Fairness Trust, a research body set up by the fund manager, said the public are willing to support policies that they don’t think will benefit their own finances, de
  
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• North Sea oil decline: ‘We can’t have a repeat of what happened to 80s miners’

  01-07-2024 12:43
  
  Unlikely alliance of unions and climate groups call for ‘clear and funded’ transition plan for communities reliant on dwindling industry“In this city, everyone feels the decline of the North Sea,” says Chris Douglas, 39, who has lived in Aberdeen his whole life and began working as a taxi driver in the Granite City 20 years ago. He now has his own cab company, which in the past was entirely reliant on bookings from the oil and gas industry – today it’s “
  
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• Harland & Wolff temporarily suspends trading as it delays accounts

  01-07-2024 11:29
  
  Belfast-based shipbuilder faces uncertainty over £200m government loan guaranteeBusiness live – latest updatesThe shipbuilder Harland & Wolff has been forced to temporarily suspend trading in its shares after accounting issues meant it was unable to file audited accounts on time.The Aim-listed company, which owns the shipyard where the Titanic was built, said on Monday that it would suspend trading with immediate effect because accounts had not been filed. Continue reading...
  
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• The no-deposit mortgage that lets tenants buy the home they live in … with a gift from the landlord

  01-07-2024 11:00
  
  Under a ‘concessionary purchase’, property owners can agree a cut-price sale to incumbent renters to save costsA growing number of people are taking out a little-known type of mortgage that allows them to buy a property without having to put down a deposit.Several lenders offer “concessionary purchase” mortgages, meaning that a tenant can buy the property they are living in from their landlord at a marked-down price. Continue reading...
  
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• Boeing to buy supplier Spirit AeroSystems in $4.7bn deal

  01-07-2024 10:11
  
  US aircraft maker reverses decision it made nearly 20 years ago to outsource part of production amid safety crisisBusiness live – latest updatesBoeing has agreed a $4.7bn (£3.7bn) deal to buy the parts supplier it sold nearly 20 years ago, as it seeks to improve safety on its production lines after a panel blew off an Alaska Airlines-operated plane mid-flight earlier this year.The under-pressure US planemaker will buy Spirit Aerosystems, which supplies it with fuselage and wing parts
  
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• We couldn’t see a thing in our VIP Taylor Swift seats

  01-07-2024 08:06
  
  I paid £2,649 for four tickets as a treat for my daughters, and all they had a view of was a tent and black plasticFashion at Taylor Swift’s Eras tour – in picturesRead all our Taylor Swift coverageLast July, I paid AXS £2,649 for four tickets for the Taylor Swift concert in Liverpool this month as a treat for my daughters. When they arrived, they found their view of the stage completely blocked by a tent and large items of technical equipment shrouded in black plastic.Th
  
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• GHO Capital realises significant return with sale of FairJourney Biologics

  01-07-2024 08:00 via globenewswire.com
  
  GHO Capital realises significant return with sale of FairJourney BiologicsUnder GHO’s ownership FairJourney Biologics has become an established leader in antibody discovery and development, with more than 5x revenue growth since 2019GHO to reinvest in a minority stake to continue to support the outstanding delivery of FairJourney’s founder and management team, and to realise the further growth potential of the company London, UK – 1 July 2024: Global Healthcare Opportunities, o
  
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• Housing: how 14 years of Tory rule have changed Britain – in charts

  01-07-2024 07:00
  
  Rents have soared, temporary homelessness more than doubled and housebuilding targets repeatedly missedAsk a millennial in the UK in 2024 what distinguishes them from their parents’ generation and it is likely that a single-word answer will crop up: housing.Since 2010, despite a succession of government pledges to would-be homeowners, the average age of a first-time buyer in the UK has risen. Meanwhile rents have soared, homelessness has more than doubled and housebuilding targets have bee
  
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• Millions to pay lower summer energy bills as UK price cap drops

  01-07-2024 06:00
  
  Cap falls by £122 to a typical £1,568 a year – but bills are expected to rise again in October when the cap endsMillions of households will pay lower gas and electricity bills this summer as the energy price cap for Great Britain falls by £122 a year to the equivalent of £1,568 for the typical annual charge from today.However, the latest cap applies only from July until the end of September, and bills are expected to rise again this winter, leaving millions struggli
  
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