Financial news

• Major UK bank to slash savings rates to below 4% from next week - see if you're affected

  05-07-2024 19:16 via express.co.uk
  
  It comes in a body blow to savers as banks start to anticipate a reduction in interest rates
  
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• Houses and pylons: Labour’s biggest business challenges

  05-07-2024 19:00
  The party’s targets of building 1.5m homes over five years and decarbonising the electricity grid by 2030 look a stretch• Business live – latest updatesA landslide victory for Labour was also a satisfactory result for the vigilantes of the bond market. A Conservative administration that served up Liz Truss’s reckless budget of unfunded giveaways in 2022 has been punished. A Labour party promising fiscal discipline, to the point where it ditched a previous flagship £2
  
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• Don’t call me a job blocker. We can’t all afford to retire | Letters

  05-07-2024 17:52
  
  Readers respond to Mary Beard’s defence of Cambridge University’s mandatory retirement age of 67Mary Beard’s experience as a longtime Cambridge academic with an outstanding post‑retirement career is not the norm (Is Cambridge University right to enforce a retirement age? I think so – who wants to be a ‘job blocker’?, 29 June). Here is the reality: I moved to Cambridge 10 years ago as a mid-career academic. The cost of housing had exploded. I will be mort
  
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• Families in poverty face a real challenge | Brief letters

  05-07-2024 17:48
  Paying for austerity | Spike Milligan | BBC’s tune | Tennis togs | Eco-warriorsIt might be more illuminating if you feature three families for whom a day not spending anything is not a challenge (‘I must have saved at least £100!’, 2 July), but a necessity. There are plenty of them to choose from after 14 years of Tory austerity. Or get your three writers to exist for a week on items from their local food bank.
  Martyn Taylor
  London• An example of Milliganesque behavi
  
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• So what does the future look like now? | Anywhere but Westminster - video

  05-07-2024 17:42
  
  On a non-stop road and rail trip, John Harris and John Domokos go from Rishi Sunak's well to-do seat in Yorkshire via County Durham and Lanarkshire to arrive amidst the new-town community spirit of Milton Keynes on election day. Everywhere people are holding places together: will a victorious Labour party soak up those vibes?Continue reading...
  
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• Savers race to protect their wealth by doing this as Labour tax raids loom

  05-07-2024 16:35 via express.co.uk
  
  Keir Starmer's landslide victory has triggered panic among many savers who fear an early Labour Party tax raid on their pensions.
  
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• Bank increases interest rate on easy access account to 4.91% and earns 'excellent' rating

  05-07-2024 15:46 via express.co.uk
  
  The easy access account now takes a place in the Moneyfacts "top tables".
  
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• UK stocks likely to surge this year but not because of Labour, expert says

  05-07-2024 15:40 via express.co.uk
  
  Nigel Green, the CEO of deVere Group, made the prediction after UK equities only rose slightly after Labour's landslide win in the general election.
  
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• HMRC to get £855m tax squad to check accounts in new law

  05-07-2024 14:58 via express.co.uk
  
  HMRC will be handed £855m to check people are paying their taxes
  
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• Five pension, tax and savings conundrums that Labour's Rachel Reeves faces

  05-07-2024 14:31 via express.co.uk
  
  The incoming Chancellor has listed economic growth as Labour's over-riding aim on the basis it is central to providing the tax income to boost spending on public services, particularly the NHS.
  
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• ‘I'm a savings expert - why Labour Government mean ISAs are now more important than ever'

  05-07-2024 14:29 via express.co.uk
  
  Savings experts outline the "very real" tax possibilities fuelled by "gaps" left in Labour's manifesto, as well as steps to safeguard pots.
  
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• 'Our work is urgent, we begin it today': Keir Starmer makes first speech as prime minister – video

  05-07-2024 14:16
  The Labour leader, Keir Starmer, made his first speech as prime minister outside Downing Street on Friday, saying he would rebuild Britain and govern with a focus on placing the country first and his party's interests second. Starmer said actions, not words, would heal the trust deficit with government, and said he had been given a clear mandate for change. Starmer paid tribute during his speech to his predecessor, Rishi Sunak, for becoming the first British Asian prime minister and thanked him
  
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• UK house prices remain subdued for third successive month

  05-07-2024 13:52
  
  Sales average £288,455 in June but recent cuts in mortgage rates offer hope for market, says HalifaxHouse prices have remained “subdued” for a third month in a row, according to a leading lender, but a recent run of mortgage rate reductions is offering hopes of improvement in the market.The average house price hit £288,455 in June, Halifax reported, down only 0.2% on the £288,931 recorded in May, as a shortage of properties kept prices high. House price growth on an
  
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• Barclays, Lloyds, Natwest, Halifax and TSB customers handed accounts boost

  05-07-2024 13:47 via express.co.uk
  
  Customers at major banks including Barclays, Lloyds, Natwest and Halifax have been handed a major change
  
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• 'I'm an energy expert - here are three ways to slash your energy bills and save hundreds'

  05-07-2024 13:16 via express.co.uk
  
  The new energy price cap set by Ofgem is at its lowest level in three years this month, offering hope to the millions of people across the country who continue to struggle with the cost of living.
  
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• ‘I’m sorry’: Rishi Sunak’s final speech as prime minister in full – video

  05-07-2024 12:07
  The outgoing British prime minister, Rishi Sunak, made his resignation speech after a historic defeat in the UK general election to the Labour party. 'I have heard your anger, your disappointment,' Sunak said, announcing he would step down as Conservative leader after a successor was foundGeneral election 2024: live newsUK general election results live trackerWhen will we know who won? Hour-by-hour election night guide Continue reading...
  
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• UK house prices ‘remain subdued’ for third successive month

  05-07-2024 10:30
  Average house price at £288,455 in June, down 0.2% on May, says Halifax, as property shortage keeps prices highHouse prices remained “subdued” for a third month in a row in June, as a shortage of properties kept prices high, according to the mortgage lender Halifax.The average house price hit £288,455 last month, down only 0.2% on the £288,931 recorded in May, while house price growth on an annual basis remained unchanged at 1.6%. Continue reading...
  
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• What to expect in Labour’s first 100 days in power

  05-07-2024 10:00
  
  Keir Starmer faces Nato summit in Washington and is expected to scrap Rwanda deportation schemeGeneral election 2024: live newsKeir Starmer’s first few days in Downing Street will bring calls with other world leaders, ministerial appointments and announcements of early policies and commitments.His government will want to set the tone with some eye-catching announcements. Early on Starmer is expected to scrap the Rwanda deportation scheme, reverse the de facto ban on onshore windfarms and l
  
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• UK stocks, sterling, bond prices rise as business calls for ‘fresh start’ under Labour – business live

  05-07-2024 09:19
  
  TUC says Labour has ‘historic opportunity’ to ‘repair and rebuild Britain’ as Goldman Sachs raises UK growth forecastsLabour wins UK general election as Keir Starmer says: ‘We did it! Change begins now’Here is some reaction from the energy sector. Offshore Energies UK said it was “deeply concerned over Labour proposals to impose a further windfall tax and end new licences”.David Whitehouse, the chief executive, said:These policies, if poorly manage
  
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• How will Labour change Britain – and what next for the shattered Conservatives?

  05-07-2024 08:46
  Our writers weigh in on Labour’s first 100 days, the surging smaller parties and a bruising night for the ToriesAnd just like that, Britain kicked the Conservative party into touch.Frances Ryan is a Guardian columnist Continue reading...
  
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• Moment former Tory prime minister Liz Truss loses her seat to Labour – video

  05-07-2024 08:29
  Liz Truss has lost her South West Norfolk seat in one of the biggest Conservative losses on a disastrous night for the party. The former prime minister, whose short, turbulent period in power has been blamed by many Conservatives for Thursday’s historic defeat, lost her seat to the Labour candidate, Terry JermyFormer Tory prime minister Liz Truss loses her seat to LabourGeneral election 2024: live newsUK general election results live trackerWhen will we know who won? Hour-by-hour election
  
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• ‘Keir Starmer take note’: UK’s green transition must start now, say experts

  05-07-2024 08:27
  Labour’s victory, alongside strong Green performance, gives next PM mandate to act boldly on net zero, say campaignersGeneral election 2024: live newsUK general election results live trackerLabour’s victory in the general election must mark the start of the UK’s transformation to a green and low-carbon economy and society, campaigners and experts have said as the scale of the election win became clear.The Conservatives’ U-turns on the environment had been “as popula
  
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• Homes under £350,000 for first-time buyers in England – in pictures

  05-07-2024 08:00
  
  From a studio in fashionable Peckham to a townhouse on a brutalist estate in Sheffield Continue reading...
  
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• ‘Keir we go’: what the UK papers say as Labour wins landslide in general election

  05-07-2024 06:41
  
  With Keir Starmer set to become prime minister after 14 years of Tory rule, the British front pages reflect on a historic election resultGeneral election 2024: live newsUK general election results live trackerAfter a night filled with a few surprises, there was a comfortable uniformity across the front pages on Friday, as the UK prepared to welcome in a Labour government after 14 years of Tory rule.“Labour landslide,” is the Guardian’s headline, summing up a night which saw Kei
  
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• Keir Starmer's election victory speech in full as he promises 'age of national renewal' – video

  05-07-2024 06:41
  
  Keir Starmer delivered an election victory speech after Rishi Sunak conceded defeat. Speaking at a reception to celebrate his win, the Labour leader said that 'change begins now' and that the British people should 'enjoy this moment'General election 2024: live newsUK general election results live trackerWhen will we know who won? Hour-by-hour election night guide Continue reading...
  
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• 'A difficult night': Rishi Sunak concedes historic Conservative election defeat – video

  05-07-2024 06:12
  
  Rishi Sunak, speaking at his count in North Yorkshire where he had just been re-elected, said it had been a 'difficult night' for his party. He thanked his constituents for their support and said he looked forward to continuing to serve them. He said Labour had won and that he had called Keir Starmer to congratulate himGeneral election 2024: live newsUK general election results live trackerWhen will we know who won? Hour-by-hour election night guide Continue reading...
  
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• ‘Hard to argue against’: mandatory speed limiters come to the EU and NI

  05-07-2024 06:00
  
  All new cars must have the devices from 7 July, adding fuel economy as well as safety. Will mpg become the new mph?In the highway code and the law courts, there is no doubt what those big numbers in red circles mean. As a quick trip up any urban street or motorway with no enforcement cameras makes clear though, many drivers still regard speed signs as an aspiration rather than a limit.Technology that will be required across Europe from this weekend may change that culture, because from 7 July al
  
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• This election has upended British politics. A strange new landscape is revealed | Rafael Behr

  05-07-2024 05:47
  Tribal loyalties and political certainties are falling away, but the Conservatives have been felled by a determined coalition Elections do not change countries overnight. They reveal changes that were hidden – or visible but neglected – beneath layers of political complacency and cultural habit. The seismic event that has delivered Labour a vast haul of seats tells of tectonic pressure that started building long before Rishi Sunak’s rain-sodden campaign launch six weeks ago, in
  
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• Egg shortage: why the avian influenza outbreak has left shoppers and farmers shell-shocked

  05-07-2024 04:17
  
  The financial impact on egg farmers, who are still paying off costs for the last high pathogenicity bird flu outbreak in 2021, could be severeSign up for the Rural Network email newsletterJoin the Rural Network group on Facebook to be part of the communityThe avian influenza outbreaks in south-eastern Australia have caused some gaps on supermarket shelves and prompted temporary buying limits.To date, most outbreaks have been confined to egg farms. Only one meat farm has been affected and there a
  
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• End of an era for New Zealand media as Newshub set to air final bulletin

  05-07-2024 02:09
  
  New Zealand left with one state-owned, English language network as shrinking news landscape prompts fears over impact on democracyOne of New Zealand’s longest running news outlets, Newshub, will air its final bulletin on Friday, marking the end of an era for the country’s media.In April, Warner Bros Discovery announced it would close all its Newshub news operations, including the news website, the morning television show and the 6pm television bulletin, resulting in roughly 300 job l
  
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