Financial news

• Labour will be pushed to axe two-child benefit cap, says John McDonnell

  24-07-2024 20:23 via theguardian.com
  
  Former shadow chancellor claims rebellion a genuine point of conscience, not a coordinated attack on governmentLabour will be pushed to act on abolishing the “indefensible” two-child benefit limit, the former shadow chancellor John McDonnell has claimed, after Keir Starmer suspended him and six others for the first rebellion of the new government.It came as multiple MPs expressed shock and dismay at the suspensions, including one suspended MP who claimed she felt her experiences of
  
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• Thousands rush to take advantage of Sainsbury's TikTok voucher error that slashes bills

  24-07-2024 19:20 via express.co.uk
  
  A number of TikTok and other social media accounts have been sharing copies of a money off coupon which is understood to have appeared on the supermarket's app.
  
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• Every house with a driveway ‘charged per metre’ in new tax plans

  24-07-2024 18:43 via express.co.uk
  
  Households which have a driveway could be charged per metre in new tax plans.
  
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• Rural development won’t solve Britain’s housing crisis | Letters

  24-07-2024 18:18 via theguardian.com
  
  Communities need affordable properties, not executive homes, writes Dr James Derounian. Plus letters from Valerie Organ and Rosanne BostockI agree with Simon Jenkins’s overall message that England’s rural communities desperately need low-cost and affordable homes to rent and buy (David Cameron failed to foist new houses on rural areas. Why does Keir Starmer think he’ll succeed?, 18 July). But beyond that he seems to dive down a whole string of rabbit holes, such as 80% of Briti
  
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• Elon Musk is spending millions to elect Trump. Let’s boycott his companies | Robert Reich

  24-07-2024 18:00
  Musk is determined to help Trump win. Perhaps it’s no surprise that both men believe democracy can be bought offGet Robert Reich’s latest columns delivered straight to your inboxFor many years I’ve argued that the consolidation of great wealth in the hands of a few undermines our democracy.Elon Musk is the poster child for that concern. Continue reading...
  
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• My vote was a plea for Labour to tackle child poverty. Its response? To suspend me | John McDonnell

  24-07-2024 17:45 via theguardian.com
  
  Seven of us voted for a motion to end the two-child benefit cap – not as ‘gesture politics’, but to fight for a cause we believe inJohn McDonnell is the MP for Hayes and HarlingtonWhat is it that drove, on Tuesday night, seven Labour MPs to vote for an amendment tabled in parliament by another party, with the virtual certainty of losing the party whip as a consequence? The answer is that some issues are so important, so pressing and so at the core of one’s beliefs that th
  
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• ‘Greed, power and fame’: inside pop music’s biggest Ponzi scheme

  24-07-2024 17:02 via theguardian.com
  
  A new Netflix docuseries spotlights Lou Pearlman, the man behind the Backstreet Boys and ‘NSync – and a criminal mastermindWith hundreds of millions of records sold, careers that are still thriving in their fourth decade, and admiration from the likes of Taylor Swift, the boy bands the Backstreet Boys and ‘NSync are absolute pop royalty. They were also the creations of one of America’s biggest criminals. It’s this bizarre duality that Netflix’s new docuseries
  
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• Keir Starmer clashes with SNP over two-child benefit cap in first PMQs as prime minister – video

  24-07-2024 15:19
  Keir Starmer faced questions about a Commons rebellion on the two-child benefit limit during the first prime minister's questions since the election. The SNP's Stephen Flynn noted that Gordon Brown, the Labour former prime minister, had called for an end to the two-child limit on working-age benefits but that Starmer had whipped his MPs to oppose an SNP amendment on the matter. ‘So, prime minister, what changed?’ Flynn asked StarmerKeir Starmer dodges questions on child benefit
  
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• EasyJet says record summer ahead; Heathrow airport reports busiest day – business live

  24-07-2024 09:44
  
  Live coverage of business, economics and financial markets as aviation industry reports stronger summer after Ryanair shockGerman business output dropped in July as the manufacturing sector’s woes deepened, to the surprise of economists who had predicted an improvement.The manufacturing purchasing managers’ index (PMI), a widely followed measure of business activity, dropped from 45.1 points to 42.2, a nine-month low, according to data company S&P Global. Anything below the 50 ma
  
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• Ticket to ride: how to cut costs on holiday car hire, train travel and bike transport

  24-07-2024 08:00
  
  Shop around for car rental prices and rail passes, and consider whether to take your own bike or hire one therePutting your dates, destination and the type of car you want into aggregator sites such as Skyscanner, Carrentals.co.uk and Kayak will give you a broad picture of what local and international companies offer and at what price. Continue reading...
  
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• My abusive ex-partner won’t let me sell my home or buy him out

  24-07-2024 08:00
  
  We have been separated for five years, and it feels like his way of continuing to exert controlI read the recent Observer Cash article “I was abused twice, first by my partner and then by my bank”, and I want to ask your advice as I am in a very similar position.I am stuck in a house that I can’t sell, or move out of, because my abusive ex-partner refuses to talk to the mortgage company. Continue reading...
  
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• UK ice-cream and lolly prices up by more than 30%, analysis shows

  24-07-2024 07:00
  Which? study found increase of 38% for one brand, while cheaper options often scored better in taste testsThe price of popular ice-creams and lollies including Cornetto and Solero have soared by more than 30% over the past two years amid the rising cost of ingredients and energy.Analysts at the consumer group Which? have suggested switching to supermarket own-label options that are cheaper and – their study suggests – often tastier. Continue reading...
  
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• Extreme wealth has a deadening effect on the super-rich – and that threatens us all | George Monbiot

  24-07-2024 07:00
  
  In a kayak off the Devon coast I witnessed the kind of entitled mindlessness that has ravaged society, and our planet On a calm and beautiful morning off the coast of south Devon last week, I was watching a small pod of dolphins from my kayak. I had spotted them from half a mile away, feeding and playing on the surface. They were heading my way, so I sat on the water and waited.But from round the headland, at top speed, came a giant twin-engined maritime wankpanzer. Though the dolphins were high
  
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• Businesses in Japan consider charging tourists more amid surge in visitors

  24-07-2024 07:00
  
  Record-high 17.78 million foreign tourists came to Japan in the first half of year, with arrivals in June led by travellers from South Korea, China, Taiwan and the USBusinesses in Japan are considering a dual pricing system for foreign tourists and local people amid a surge in inbound visitors and the continued weakness of the yen.The head of the Hokkaido Tourism Organization has called on businesses in Japan’s northernmost prefecture, known for its beautiful scenery and winter resorts, to
  
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• Rachel Reeves must overhaul ‘perverse’ carer’s allowance rule, Martin Lewis says

  24-07-2024 06:00
  
  Consumer expert writes to chancellor outlining four changes to help remedy financial injusticesRachel Reeves must overhaul the allowance that has resulted in thousands of unpaid carers being saddled with life-changing debt, and in some cases threatened with criminal prosecution, the consumer finance expert Martin Lewis has said.Lewis has written to the chancellor, identifying four measures that he says are possible to enact without great cost to the taxpayer that would remedy financial injustice
  
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• Surprise jump in number of UK people mainly using cash for daily spending

  24-07-2024 01:01
  
  Banking body reports increase to 1.5min 2023 – the highest since before Covid –despite move to cashless societyThere has been an unexpected jump in the number of people who mainly use notes and coins for their daily spending, despite the UK moving closer to becoming a cashless society, a report has found.The volume of contactless and mobile payments increased last year, while the number of cash payments resumed a downward trajectory after enjoying a brief comeback in 2022, the bankin
  
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• Overhaul UK benefits to tackle child poverty, charities urge

  24-07-2024 01:01 via theguardian.com
  Report warns of crisis of poverty and mental health which ‘casts a shadow’ over young people’s wellbeingMinisters have been urged to reform the benefits system to tackle child poverty, after a report found it to be a major cause of mental illness that “casts a shadow” over young people’s wellbeing.The report, by the Centre for Mental Health, Save the Children UK and the Children and Young People’s Mental Health Coalition, found that the number of childre
  
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• King to receive extra £45m of public money as crown estate income soars

  24-07-2024 01:01
  
  Royal accounts show estate made £1.1bn profit, meaning sovereign grant will rise to £132m for 2025-26King Charles is set for a huge £45m pay rise with an increase of more than 50% in his official annual income, official accounts reveal.Profits of £1.1bn from the crown estate – a percentage of which funds the monarchy – mean the sovereign grant, which supports the official duties of the royal family, will rise from £86m in 2024-25 to £132m in 2025-2
  
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• Tesla earnings nearly halved as price cuts put pressure on profits

  24-07-2024 00:40
  
  CEO Elon Musk blames ‘bit of a hangover’ from rivals’ discounting but insists challenges are ‘fairly short-term’Earnings at Tesla almost halved as discounts and price cuts pile pressure on the electric carmaker’s profit margins.Elon Musk, the company’s CEO, blamed “a bit of a hangover” after rivals cut prices “very substantially, which has made it a bit more difficult for Tesla”. Continue reading...
  
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