Financial news

• Tata Steel’s UK losses hit £1.1bn on cost of closing Port Talbot blast furnaces

  04-12-2024 19:08
  
  Losses quadruple from a year earlier after decision to end primary steelmaking in south Wales with loss of 2,500 jobsLosses at Tata Steel’s UK operations ballooned to £1.12bn due to the cost of closing Port Talbot’s two blast furnaces.Accounts for the Indian-owned company show that pre-tax losses quadrupled from £279m to £1.12bn in the year to the end of March due to restructuring costs associated with the closure of its blast furnaces and coke ovens at the site in
  
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• Global investigation exposes alleged billion-dollar Russian money-laundering network

  04-12-2024 16:30
  
  UK and foreign law enforcement agencies say networks laundered cash and cryptocurrencies for organised crime gangs across the westOperatives said to be behind a billion-dollar Russian money-laundering network – used by drug dealers, financial criminals and foreign spies – have been sanctioned and arrested in a coordinated international investigation led by the National Crime Agency.The UK law enforcement body, which tackles serious and organised crime, said the actions constituted th
  
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• GM to write down value of China business by more than $5bn

  04-12-2024 14:52
  
  Automaker is restructuring in China after losing about $350m in the region in the first three quarters of this yearGeneral Motors told shareholders on Wednesday that it would write down the value of its China business by more than $5bn.The company’s board of directors determined that the non-cash charges were necessary “in light of the finalization of a new business forecast and certain restructuring actions” with the joint venture, according to a company filing. Continue readi
  
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• Auto Trader forecasts ‘seismic shift’ to electric vehicles in Britain

  04-12-2024 13:00
  
  Number of petrol cars on British roads rose to 18.7m this year, but decrease expected amid growth of EVsThe number of petrol cars on British roads has peaked this year but is set to tumble by more than 40% over the next decade, according to a report.Auto Trader’s latest motoring forecast estimates there were 18.7m petrol-powered cars on the roads this year, but that this will steadily decrease from 2025 to 11.1m by 2034. Continue reading...
  
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• The happiest place to live in the UK? It’s not London …

  04-12-2024 12:22
  
  With high scores for friendly neighbours and access to services, Woodbridge in Suffolk has topped Rightmove’s annual list for the first timeIt may not have the bright lights of London or Edinburgh, or even the celebrity or notoriety of some of the Great Britain’s better known villages and towns.But in one respect, Woodbridge in Suffolk seems to trump them all: it is the happiest place to live in Britain. At least that is the conclusion of a survey by the property website Rightmove.Wo
  
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• National insurance rise ‘biggest issue’ after budget, says Bank of England governor

  04-12-2024 12:14
  
  Andrew Bailey warns economic uncertainty is rising in the UK and globallyThe governor of the Bank of England has said the way businesses react to the national insurance increase is the “biggest issue” after the budget, as he warned that economic uncertainty was rising in the UK and globally.Andrew Bailey said it was not yet clear what effect the tax change could have on UK inflation. Continue reading...
  
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• Lloyds, Natwest and other banking customers could be owed thousands of pounds

  04-12-2024 06:00 via express.co.uk
  
  Money Saving Expert says many people have been mis-sold packaged accounts from UK banks.
  
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• Energy customers can slash bills with £200 discount - how to apply

  04-12-2024 04:12 via express.co.uk
  
  It comes as many pensioners are struggling to put on the heating this winter
  
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• HMRC confirms 'no changes for online sellers' ahead of new tax rules next month

  04-12-2024 02:00 via express.co.uk
  
  HMRC has clarified its new tax policy ahead of the new year - just in time for those who might want to sell their unwanted Christmas presents.
  
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• Are chicken sandwiches a) a tasty lunch? Or b) the ultimate symbol of gen Z wokeness? | Arwa Mahdawi

  04-12-2024 00:59
  
  Those waging a war on woke have turned their attentions to twentysomethings’ supposed rejection of ham and mustard sarnies. Clearly this is what people mean by bread and butter issues ...You are what you eat. And if you eat sandwiches? Then you’re probably woke, I’m afraid. While the convenience food may have been invented by a degenerate earl who, legend has it, didn’t want a proper meal to interrupt his gambling, some sarnies have now been deemed politically correct by
  
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