Financial news

• Ted Baker ‘plans to shut all its UK shops within weeks’

  26-07-2024 18:51
  
  Hundreds of staff at the fashion chain reportedly told they will lose their jobs Ted Baker could disappear from British high streets as the struggling fashion chain plans to shut all its stores within weeks.The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), entered administration in March. Continue reading...
  
  Read more

• Millions of UK public sector workers set for above-inflation pay rise

  26-07-2024 18:20
  
  Rachel Reeves is expected to accept pay review body recommendations in move that could cost up to £10bnMillions of public sector workers are set for an above-inflation pay rise due to be announced by Rachel Reeves next week after more than a decade of austerity.The chancellor is expected to accept the recommendations of public sector pay bodies for pay increases on Monday – a move economists believe could cost up to £10bn. Continue reading...
  
  Read more

• Why Zuckerberg’s multibillion-dollar gamble doesn’t just matter to Meta

  26-07-2024 15:00
  
  As Llama 3.1 405B is made freely available, investors are asking when the huge industry spend will pay offSpending on artificial intelligence could hit a staggering $1tn, according to analysts concerned about whether there will be a return on such a spree. Mark Zuckerberg’s answer this week to such jitters was to release his latest AI system for free.Meta’s Llama 3.1 405B is its most powerful yet, it says, and one of the most capable in the world. While the tech company didn’t
  
  Read more

• UK motorists still being overcharged for fuel, says watchdog

  26-07-2024 14:44
  
  Lack of competition ‘failing consumers’, with drivers paying £1.6bn more than they should have in 2023UK motorists are still being overcharged for fuel, according to the competition watchdog, which said they paid £1.6bn more than they should have last year alone.In its cost of living report, the Competition and Markets Authority (CMA) concluded that prices at the pump were still too high, and that the lack of proper competition among fuel retailers was “failing cons
  
  Read more

• Advertisement

• Eight charts that lay bare Labour’s spending inheritance from Tories

  26-07-2024 14:36
  
  Rachel Reeves will next week highlight figures showing a tougher picture than Osborne received in 2010Reeves expected to reveal £20bn shortfallRachel Reeves is preparing to announce Treasury analysis of Labour’s spending inheritance from the Conservatives in parliament on Monday to highlight why she will need to make “tough decisions” in her autumn budget.The chancellor’s audit is expected to show £20bn in commitments left unaccounted for by the previous gover
  
  Read more

• Ed Miliband: people must be persuaded of need for pylons near homes

  26-07-2024 14:36
  
  Communities affected by construction of renewable energy infrastructure ‘have the right to see the benefits’UK politics live – latest updatesLabour will seek to persuade people living near proposed pylon routes and other renewable energy infrastructure that the developments are critical to bring down bills and tackle carbon emissions, the energy secretary said.Ed Miliband promised to consider new benefits for communities affected by the construction of renewable energy infrastr
  
  Read more

• Eurostar cancels one in four trains after France arson attacks

  26-07-2024 14:02
  Disruption to continue all weekend and long diversions in place as passengers asked to postpone if possibleEurostar passengers travelling from London to Paris on Friday were asked to postpone trips if possible as the rail operator cancelled one in four trains over the weekend after arson attacks caused widespread disruption to France’s high-speed rail network hours before the start of the Olympics.Most cross-Channel services were leaving St Pancras International station on time but journey
  
  Read more

• Drax Group to give shareholders £300m windfall as profits rise

  26-07-2024 13:31
  Owner of North Yorkshire power station earned £393m in government subsidies for biomassThe owner of the Drax power plant in North Yorkshire will give shareholders a £300m windfall after a sharp rise in taxpayer subsidies boosted its profits for the first half of the year to more than £500m.The power station, which receives hefty subsidies from burning biomass wood chips, mainly shipped from North America, generated almost a third more electricity over the first half of this yea
  
  Read more

• Advertisement

• Are you a cash stuffer or a doom spender? The new lingo helping people save money

  26-07-2024 12:00 via theguardian.com
  
  Move over ‘thrifty’ and ‘flashy’. A fresh wave of buzzwords are shifting people’s financial habits – meet five of themEvery Thursday night Jen Bowen, 39, a business analyst from Swindon, puts a Post-it on the fridge telling her husband how much to withdraw from the ATM or, if she needs a specific denomination note, the post office on his way to the gym. Friday is cash-stuffing day, where she opens her binders and meticulously divides up her weekly bu
  
  Read more

• NatWest takes £24m hit from abandoned ‘Tell Sid’-style campaign

  26-07-2024 11:59
  Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rolloutBusiness live – latest updatesNatWest was forced to spend £24m on the former Conservative government’s aborted “Tell Sid”-style campaign featuring Sir Trevor McDonald, which would have resulted in a chunk of the bank’s state-owned shares being sold to the general public in a highly anticipated privatisation drive.The price tag emerged when the bank released its se
  
  Read more

• If things go wrong on holiday: how to claim back or avoid some of the costs

  26-07-2024 08:00
  
  Get a Ghic card, use the flight compensation scheme, or claim refunds via your credit card providerThe UK Global Health Insurance Card is not actually global – it just covers the European Economic Area (EEA) and a handful of other countries including Montenegro, Switzerland and, surprisingly, Australia. It gives you access to the state healthcare that a resident of that country would receive, so not everything may be free. It doesn’t help you get home if you are sick or injured, so d
  
  Read more

• Grand townhouses under £1m for sale in England – in pictures

  26-07-2024 08:00
  
  From a four-storey Victorian property on a hillside to a Grade II-listed Georgian home moments from the beach Continue reading...
  
  Read more

• Striking Nine journalists rally outside company headquarters following pay dispute - video

  26-07-2024 06:54
  Striking journalists have gathered outside Nine Entertainment's headquarters in Melbourne and Sydney to express their frustration with management’s negotiations for a new enterprise bargaining agreement. They have begun a five-day strike which will see the company’s mastheads produced by exempt members of staff, including management► Subscribe to Guardian Australia on YouTube Continue reading...
  
  Read more

Follow @financialnwsUK on Twitter!