Financial news

• Rachel Reeves will play a £57bn magic trick today – and you're going to pay for it

  08-10-2024 18:45 via express.co.uk
  
  Is chancellor Rachel Reeves some kind of magician? First, she unveils a £22billion black hole in the nation's accounts. Then she waves her wand and grants herself a £57billion windfall to clear it. What kind of trickery is this?
  
  Read more

• Martin Lewis ‘urges’ energy customers take one 'easy' step now to save money on bills

  08-10-2024 16:20 via express.co.uk
  
  Money Saving Expert Martin Lewis shared some energy bill tips with viewers of ITV's This Morning show.
  
  Read more

• Martin Lewis gives urgent 'warning' to all drivers and says 'it could save £100s'

  08-10-2024 15:40 via express.co.uk
  
  Personal finance guru explained that people don't realise making the wrong choice could leave them paying the same interest as credit cards
  
  Read more

• ‘My father was devastated’: family battles to recover thousands stolen in email scam

  08-10-2024 11:17 via theguardian.com
  New rules that have just come into force aim to help those tricked by authorised push payment fraudCriminals who targeted Françoise Schorosch’s father knew how to lull the elderly man into a false sense of security. “The sender of the email was someone impersonating me and asking for money,” she says.By mimicking how his daughter opens and signs off emails in German, but otherwise writes mostly in English, the fraudsters led him to think he was helping her with money to
  
  Read more

• Advertisement

• UK borrowing costs climb ahead of the budget; Water companies to pay £157.6m penalty for poor performance – business live

  08-10-2024 11:08 via theguardian.com
  Rolling coverage of the latest economic and financial news, as UK gilt yields rise and water companies are penalised for poor performanceThe biggest increases in pollution incidents last year were reported by South West Water (80%), United Utilities (71%) and Northumbrian Water (65%).Hafren Dyfrdwy is the only company to have met the performance commitment level for pollution incidents in 2023. It, and Southern Water, were the only two companies to commit fewer pollution incidents this year than
  
  Read more

• Water companies in England and Wales told to pay £158m penalty to customers

  08-10-2024 09:22 via theguardian.com
  
  Ofwat says firms must lower bills next year after poor performance on issues such as sewage spills and leaksBusiness live – latest updatesWater companies in England and Wales will have to return nearly £158m to customers through lower bills next year after falling further behind on key targets including sewage spills and leaks.The regulator, Ofwat, announced the penalties as part of its annual review of companies’ performance. The report showed that companies reduced sewage spi
  
  Read more

• I was written off by John Lewis for car insurance because I’m an author

  08-10-2024 08:00 via theguardian.com
  
  I was deemed an ‘unacceptable risk’ when it came to renewal I received a brief letter from my car insurer stating that “having reviewed your current details, we won’t be able to renew your car insurance policy arranged by John Lewis Finance and underwritten by Covea Insurance plc”. It transpired this is because my occupation is recorded as “author”, which is deemed an “unacceptable risk”. This, in itself, seems bizarre and has never been a pr
  
  Read more

• Family of deceased tenant refused entry to property containing life’s work

  08-10-2024 08:00 via theguardian.com
  Cambridge council says Glen Hutchinson’s daughters cannot access flat until they have been granted probateThe family of a social housing tenant who has recently died fear losing his life’s work because bureaucratic red tape has barred them from entering his flat.Glen Hutchinson, a performance poet, was found dead in his home in August but Cambridge city council has refused to allow his two daughters to access the property until they have been granted probate. Continue reading...
  
  Read more

• Advertisement

• Britons urged to dig out unwanted electricals to tackle copper shortage

  08-10-2024 07:01 via theguardian.com
  
  Items such as cables and old tech could contain £266m worth of metal vital for decarbonisation drive, study findsScientists have called for people to go “urban mining” after a study revealed that old cables, phone chargers and other unused electrical goods thrown away or stored in cupboards or drawers could stave off a looming shortage of copper.The research found that in the UK there are approximately 823m unused or broken tech items hiding in “drawers of doom” con
  
  Read more

• Building HS2 to Euston and Crewe could pay for itself, analysis finds

  08-10-2024 07:00 via theguardian.com
  
  Extending high-speed line at both ends would let government charge more for rights to run it, rail leaders sayBuilding HS2 all the way to London Euston and Crewe could save the government money by enabling it to lease the line out for much more, rail industry leaders have told ministers, as the Treasury weighs up whether to fund tunnels to central London.The High Speed Rail Group proposes selling the rights to run the line as a long-term concession – on a similar basis to the HS1 rail rout
  
  Read more

• The scandal of food waste and how we can stop it

  08-10-2024 06:00 via theguardian.com
  
  Every informed observer agrees that food waste and loss must be reduced if we are to feed all humans. What’s stopping us?In traditional societies, little to no food goes to waste. Every edible part of an animal or plant is utilised. Researchers found that the members of a Maasai cattle herding community in northern Tanzania were outraged at the thought of intentionally wasting food, calling those who would do so “lunatics”. Some even said it was worse than killing a person, bec
  
  Read more

• Oasis ticket sales push UK non-essential spending to highest level this year

  08-10-2024 06:00 via theguardian.com
  
  Retail sales show strongest growth in six months as shoppers buy clothes and computers for new academic yearTicket sales for the Oasis reunion tour helped to increase non-essential spending by British consumers to the highest level this year in September, amid a bumper month for retailers.In a sign of resilience despite a pre-budget hit to consumer confidence, industry figures show retail sales and discretionary spending on entertainment, meals out and little luxuries rose sharply last month. Co
  
  Read more

• Lab-grown meat could be sold in UK in next few years, says food regulator

  08-10-2024 06:00 via theguardian.com
  
  Food Standards Agency says applications for cultivated steak, chicken and foie gras have already been submittedCell-cultivated meat could be on sale in the UK within a few years, the food regulator has said, with applications for lab-grown steak, beef, chicken and foie gras already submitted, while another 15 applications are expected in the next two years.The Food Standards Agency (FSA) was awarded £1.6m of government funding on Tuesday to develop an efficient safety assessment process fo
  
  Read more

• Winter blackouts risk in Great Britain ‘lowest in four years’ despite end of coal

  08-10-2024 01:01 via theguardian.com
  
  Energy system operator expects winter power supplies to outstrip demand by almost 9% this yearThe risk of winter blackouts in Great Britain has tumbled to its lowest in four years even after the shutdown of the UK’s last coal plant, thanks to investments in low-carbon electricity sources.The National Energy System Operator (Neso) expects Britain’s winter power supplies to outstrip demand by almost 9% this year in its base case scenario, the greatest margin since the winter of 2019 to
  
  Read more

Follow @financialnwsUK on Twitter!