Financial news

• Reeves accused of betraying small family firms with inheritance tax rises

  30-10-2024 20:28 via theguardian.com
  
  Chancellor also criticised for letting the very rich off the hook with a lower than expected rise in capital gains taxBudget 2024: key points at a glanceTax rises aimed at inherited wealth are at risk of backfiring, after the chancellor was accused of betraying small family businesses while letting private equity bosses off the hook.Labour’s first budget in 14 years included measures to close inheritance tax (IHT) loopholes and press ahead with scrapping the controversial non-dom tax statu
  
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• The Guardian view on Labour’s choices: emphasising a big state amid economic challenges | Editorial

  30-10-2024 20:14 via theguardian.com
  
  The budget favours increased public spending and taxation, contrasting with Tory austerity. However, there were missed opportunities to address poverty and inequalityThe 1970s are making a notable comeback – not necessarily in reputation, but certainly as an object of interest. Rachel Reeves’ budget is poised to become part of that “decadology”, primarily because her tax changes mark the biggest shift since Margaret Thatcher slammed Labour for its “genuine socialist
  
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• Carers’ earnings limit to rise by £45 a week after allowance scandal

  30-10-2024 19:55 via theguardian.com
  Guardian investigation revealed scale of penalties for unwitting breaches of carer’s allowance earnings limitsBudget 2024: key points at a glanceThe earnings limit placed on people who claim government support for taking care of disabled, sick and elderly loved ones will rise by £45 a week, the chancellor has announced, after a six-month Guardian investigation into the carer’s allowance scandal.The changes will enable full-time unpaid carers who provide care for at least 35 hou
  
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• Budget 2024: what it means for you

  30-10-2024 19:43 via theguardian.com
  
  How the chancellor’s changes to tax, benefits and pensions will affect your personal financesWhat the budget means for your financesBudget 2024: key points at a glanceThe chancellor, Rachel Reeves, has pressed the button tax and benefits changes that will have an impact on the pound in your pocket. Through a range of scenarios we explore what it means in financial terms.Some figures rounded up to the nearest pound. In some cases different rates apply in Scotland. Continue reading...
  
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• Autumn budget 2024: key moments from Reeves's speech announcing £40bn tax rises – video highlights

  30-10-2024 18:50
  Rachel Reeves's budget is expected to raise £40bn through a number of tax changes including employers' contribution to national insurance and capital gains. The chancellor also announced she would not extend the Conservatives' freeze on income tax, and brought an end to the non-dom regime. She said she was 'deeply proud to be Britain’s first ever female chancellor of the exchequer'Budget 2024: Reeves reveals £40bn in tax rises as she promises to rebuild public servicesAutumn bu
  
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• Regulated rail fares in England to rise by inflation-busting 4.6% in 2025

  30-10-2024 17:56 via theguardian.com
  
  ​L​abour announces only​ the second RPI-plus ​r​ise ​since 2013, though​ stresses it is ‘lowest absolute increase in three years’Rail fares will go up by 4.6% next March, the government disclosed alongside the budget – meaning they will rise above inflation for only the second time in 12 years.Meanwhile, the cost of most railcards will rise by £5, or almost 17%. Continue reading...
  
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• Is this the budget Britain needs? Our panel responds | Frances Ryan and others

  30-10-2024 16:31 via theguardian.com
  
  In Labour’s first budget for almost 15 years, Rachel Reeves has unveiled tax rises and promises of investment in public servicesHere comes Labour defining itself at last with the biggest tax-raising budget in a lifetime: the £70bn in new spending – with £40bn coming from raised taxation – is big enough to see from space. This should lift the public mood, after the chancellor committed to economic change with her “invest, invest, invest” message. She demo
  
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• Ghost jobs: why do 40% of companies advertise positions that don’t exist?

  30-10-2024 15:41 via theguardian.com
  
  A survey has revealed that the practice is widespread, with many companies going as far as fake-interviewing tooName: Ghost jobs.Age: Old, but increasingly common. Continue reading...
  
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• Autumn budget live: Rachel Reeves says taxes will rise by £40bn as she delivers budget

  30-10-2024 14:18
  
  The chancellor is setting out the government’s tax and spending plansBudget 2024: key points at a glanceGeorge Osborne is credited with popularising the baseline theory of economic policy, which says the government always has the advantage in politics because, at budgets, it sets the baseline, and so if the opposition wants to do anything different, it has to explain what spending it is going to cut (if it wants to reduce taxes), or what taxes it is going to raise (if it wants to increase
  
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• Nuclear submarine shipyard fire at Barrow-in-Furness leaves two in hospital

  30-10-2024 14:16
  
  Residents told to stay indoors but police say there is no nuclear risk from blaze at BAE Systems complexTwo people have been taken to hospital after a “significant” fire broke out at BAE Systems’ nuclear submarine shipyard in Cumbria.Residents said they saw huge flames and smoke billowing from the giant complex in Barrow-in-Furness, where the UK’s new multi-billion-pound Dreadnought submarines are being built. Continue reading...
  
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• The post-Roe rebranding of birth control: ‘a little bit Glossier’, a lot more lucrative?

  30-10-2024 14:00
  A host of slickly marketed women’s health companies are changing the way life-altering medication is accessed – and commodifying it at the same timeKarley Sciortino, a sex influencer, former Vice columnist and the founder of the blog Slutever, is known for her unfiltered writing on kink and dating (a sample advice column is titled “Should I Be Double-Teamed by a Couple Twice My Age?”) . On Instagram, she occasionally posts sponsored content promoting personal lubricants a
  
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• US economic growth slows, as Germany avoids recession and France gets Olympics boost – business live

  30-10-2024 13:48
  Eurozone GDP grew by 0.4% in the last quarter, faster than expected, as Germany’s economy avoids second contraction in a rowAutumn budget live: major tax rises expected as Rachel Reeves prepares to set out first Labour budget in 15 yearsFrom capital gains to NICs: tax changes to look out for in autumn 2024 budgetFive key charts: what will underpin 2024 budget statement by Rachel Reeves?Newsflash: Germany has avoided falling into recession, in a welcome sign for Europe’s largest econo
  
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• Never dry clothes on radiators – it causes big problem

  30-10-2024 13:37 via express.co.uk
  
  Brits have been warned against drying their clothes on radiators as it can be damaging to your home and health. It can even lead to a fire hazard.
  
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• Keir Starmer pays tribute to Rishi Sunak at start of outgoing Tory leader's final PMQs – video

  30-10-2024 13:25
  
  Keir Starmer paid tribute to Rishi Sunak during their final clash across the dispatch box at PMQs. Starmer said Sunak's election as the first British Asian prime minister had been a significant moment in UK historyAutumn budget live Continue reading...
  
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• Rachel Reeves appears with red box at Downing Street before budget – video

  30-10-2024 12:58
  
  The chancellor, Rachel Reeves, holds up her ministerial red box before the press at Downing Street before delivering her budget statement in the House of Commons. Reeves, the first woman to hold the post of chancellor of the exchequer in the UK, will set out Labour's first budget in 15 yearsAutumn budget live Continue reading...
  
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• DWP sent urgent WASPI warning over compensation as minister issues date apology

  30-10-2024 12:36 via express.co.uk
  
  A final report was published on March 21, yet 'all that successive ministers have done is kick the can down the road'
  
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• Trump’s mass deportation plan would be ‘economic disaster’ for US

  30-10-2024 12:00
  
  Loss of migrant workers would trigger productivity losses and a new round of inflationary pricing pressureIf elected, Donald Trump plans to carry out “the largest deportation operation in American history”. After pushback on Joe Biden’s border policies, Kamala Harris has embraced border restrictions and the need to maintain limits on asylum seekers. But neither candidate captures the realities of US immigration.US consumers are accustomed to cheap goods and services, and the ec
  
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• The truth about immigration? As Elon Musk shows, borders are always open for the rich | Arwa Mahdawi

  30-10-2024 12:00
  
  The South African-born multibillionaire almost certainly worked in the US without correct authorisation – just another ‘enterprising expat’ operating in a ‘legal grey area’When is an illegal immigrant not an illegal immigrant? When they’re a privileged white person, of course. In that case the correct classification is “enterprising expat” operating in a “legal grey area”.No prizes for guessing who I’m referencing here. Yep, it&rs
  
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• Sweden and Norway rethink cashless society plans over Russia security fears

  30-10-2024 11:50
  Rise in hybrid warfare and cyber-attacks blamed on pro-Russia groups prompt Nordic neighbours to backpedal Sweden and Norway are backpedalling on plans for cashless societies over fears that fully digital payment systems would leave them vulnerable to Russian security threats, and concern for those unable to use them.A combination of good high-speed internet coverage, high digital literacy rates, large rural populations and fast-growing fintech industries had put the Nordic neighbours on a fast
  
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• Households told hack could save £165 a year off energy bills as Martin Lewis urges act now

  30-10-2024 11:42 via express.co.uk
  
  Martin Lewis told viewers of his popular ITV show there are a few simple steps to help them save on their energy bills.
  
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• Thousands of UK households could get £400 a year to cut energy bills

  30-10-2024 11:31 via express.co.uk
  
  The Great British Insulation Scheme could save low-income households up to £400 annually on fuel bills through new energy efficiency upgrades
  
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• Martin Lewis says Budget will see DWP benefit rule change that will boost 1.4m Brits

  30-10-2024 11:16 via express.co.uk
  
  Finance expert Martin Lewis announced the "good news" in the run-up to today's Budget.
  
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• Young buyers to get £20,000 towards first home - plus 25% tax-free bonus worth up to £1k

  30-10-2024 11:03 via express.co.uk
  
  More than eight million over 50s are planning to help younger family members get on the property ladder by gifting a generous £20,728 each on average.
  
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• Pensioners warned 'act now' over little-known benefit that could protect your pot

  30-10-2024 11:03 via express.co.uk
  
  The Chancellor has admitted some of the changes will be "painful" while speculation about the proposals has triggered anxiety over just what they will mean
  
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• Trump wants you to believe that the US economy is doing terribly. It’s untrue | Steven Greenhouse

  30-10-2024 11:00
  
  Despite his claims to the contrary, unemployment is low, inflation is way down, and job growth is remarkably strongIf Donald Trump wins next week’s election, it would be the first time in US history that a candidate wins based on such a huge lie – his falsehood that we have “the worst economy ever”. The former president’s big lie has distorted the views of millions of Americans, wrongly convincing many that the US economy is in bad shape.There’s no denying tha
  
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• Pumpkin soup and DIY fake blood: how to be more sustainable this Halloween

  30-10-2024 11:00 via theguardian.com
  
  The environmental footprint of this holiday is frightening – here are ways to celebrate responsibly and still have funHalloween is just around the corner, with millions of children gearing up to put on their favorite costumes and flock to the streets for trick-or-treating. Spooky skeletons and glowing jack-o’-lanterns are adorning homes that have gone all out to celebrate a night of fright. But the truly scariest part of the holiday might just be the plastic waste left behind after t
  
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• ‘It knocks your head off!’ How limoncello became a sudden, surprising, soaring success

  30-10-2024 11:00
  
  The liqueur has gone from being an occasional digestif, served in shot form, to a ubiquitous spritz popular in bars and restaurants from Adelaide to Athens. What’s behind the overnight rise of a decades-old drink?When I was in northern Italy this month, I spotted the same sunshine-yellow drink wherever I went. Limoncello spritz – sweet-sharp lemon-flavoured liqueur, mixed with prosecco and soda water and served over ice – was on every menu. The leaves were starting to turn and
  
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• Could I still pass my driving test? Thirty years on, it’s time to find out | Rich Pelley

  30-10-2024 11:00 via theguardian.com
  
  Forget recent news about the dangers posed by younger drivers – you may have more to fear from seasoned motorists like me“There are a lot of idiots on the road … I mean, uneducated people, unaware of their surroundings,” Umar, my driving examiner, corrects himself. If he means clueless chumps like me, he’s right either way. I passed my driving test, first attempt, age 17, and drove regularly until I moved to London in my late 20s. But driving is like riding a bike,
  
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• Volkswagen hit by 60% fall in profits as sales in China slump

  30-10-2024 10:57
  Drop comes as carmaker faces battle with unions over plan to shut three factories in GermanyVolkswagen has reported a 60% drop in profits amid a slump in sales in China, with the carmaker emphasising the difficulties it faces as it prepares to close factories in Germany for the first time.Germany’s biggest carmaker has told workers it is considering shutting three plants serving its main Volkswagen brand in its home market and cutting staff pay, raising the prospect of an extended battle w
  
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• Rachel Reeves is about to shun the elephant in the room — voters shouldn't be fooled

  30-10-2024 10:55 via express.co.uk
  
  Chancellor Rachel Reeves is hoping to fool a key block of voters, but the giveaways expected aren't worth as much as they seem.
  
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• WASPI woman makes final plea to Rachel Reeves to 'save our pension'

  30-10-2024 10:24 via express.co.uk
  
  Around 3.8m women were affected by government decisions to raise the pension age from 60 to 65 in 1995 and later to 66 in 2012.
  
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• Mining firm BHP says it has ‘moved on’ from failed Anglo American bid

  30-10-2024 10:09
  
  Chair suggests company will not make fourth takeover offer and will instead focus on other growth opportunitiesThe global mining company BHP has “moved on” from its three unsuccessful attempts to take over the rival Anglo American earlier this year and will focus on other growth opportunities instead, its chair has said.Speaking at BHP’s annual general meeting in Brisbane on Wednesday, Ken MacKenzie suggested the Australian miner would not be resurrecting its bid for its London
  
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• Delivery of a costly camera put identity theft in sharp focus

  30-10-2024 08:00
  
  An account had been opened in my name to buy it with 20 neighbours also targetedLast month an expensive GoPro action camera that I had not ordered was delivered to my house. Then the bill arrived from the online retailer Jacamo. It turned out that someone had opened an account in my name and spent more than £800.The fraudsters also created an account in my wife’s name and spent the same amount. Continue reading...
  
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• The world needs $700bn a year to restore nature. But where is the money coming from?

  30-10-2024 06:00
  
  Representatives from nearly 200 countriesatthe UN’s Cop16 summit in Colombia have yet to break the deadlock over who pays and how muchExperts agree that the world needs $700bn (£539bn) a year to restore nature – but no one knows where the money is going to come from, and anger is building about rich countries failing to pay their share. With representatives of nearly 200 countries gathered in Colombia for the UN Cop16 biodiversity summit, the question of who will fund conservat
  
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• From capital gains to NICs: tax changes to look out for in autumn 2024 budget

  30-10-2024 06:00
  
  Rachel Reeves will seek to close £40bn Whitehall spending gap with range of potential measuresAutumn budget live: latest news updatesLabour has two aims in the budget: to make tax rises and spending cuts that close a spending gap in day-to-day Whitehall budgets of about £40bn, and to increase the funds available for investment.According to government sources, the £40bn includes the £22bn shortfall left behind by the previous Conservative administration and an extra top-up
  
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• 10 years of the long read: Why Silicon Valley billionaires are prepping for the apocalypse in New Zealand (2018) – podcast

  30-10-2024 06:00
  
  As the Long Read turns 10 we are raiding the archives to bring you a favourite piece from each year since 2014, with new introductions from the authors.This week from 2018: How an extreme libertarian tract predicting the collapse of liberal democracies – written by Jacob Rees-Mogg’s father – inspired the likes of Peter Thiel to buy up property across the Pacific. By Mark O’Connell Continue reading...
  
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