Financial news

• Trump administration suspends $5bn electric vehicle charging program

  07-02-2025 20:00 via theguardian.com
  
  Highway agency ordered states to no longer spend funds allocated under Biden’s EV charging station programThe Trump administration has ordered US states to suspend a $5bn electric vehicle charging station program in a further blow to the environmental movement since the president’s return to the White House.In a memo issued on Thursday to state transportation directors, the transportation department’s Federal Highway Administration (FHWA) ordered states not to spend any funds a
  
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• AI is developing fast, but regulators must be faster | Letters

  07-02-2025 19:01 via theguardian.com
  
  Dr Tom McClelland on the consequences of AI consciousness, Michael Webb on protecting creative industries, and Prof Virginia Dignum and Prof Wendy Hall on the need for a global regulatory frameworkThe recent open letter regarding AI consciousness on which you report (AI systems could be ‘caused to suffer’ if consciousness achieved, says research, 3 February) highlights a genuine moral problem: if we create conscious AI (whether deliberately or inadvertently) then we would have a duty
  
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• Rothschild braces for more ‘skeletons in the cupboard’ over conduct of late chair

  07-02-2025 18:39 via theguardian.com
  
  Exclusive: Bank holds crisis meeting to discuss response to news that Sir Evelyn de Rothschild left after allegation of sexual misconductSenior bankers at Rothschild & Co gathered on Tuesday in a meeting room at its St Swithin’s Lane headquarters in the heart of the City of London to discuss a memo that would shake the storied financial group to its foundations.The memo, to be sent to staff on Wednesday morning, would admit for the first time that their celebrated former leader, Sir Ev
  
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• Trump’s meme coin sparks more than 700 copycats posing as official crypto

  07-02-2025 18:14 via theguardian.com
  
  Army of digital imposters uses names associated with president’s family in apparent bid to deceive investorsDespite once calling cryptocurrency “a scam”, Donald Trump made a theoretical fortune of billions after launching a self-named and highly controversial meme coin immediately before his second inauguration in January.Now an army of digital imposters is trying to cash in on the president’s name and online presence to make their own crypto killing, according to a repor
  
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• What do Trump’s tariffs mean for US-China trade?

  07-02-2025 18:11 via theguardian.com
  
  The US president hopes tariffs will help close the huge trade gap by potentially pressuring Beijing into a new dealDonald Trump postponed his threat to tax all imports from Mexico and Canada this week, citing action by those countries against migration and drug smuggling; but it was telling that tariffs on China went ahead.When it comes to the US’s neighbours, Trump’s Treasury secretary, the hedge fund manager Scott Bessent, made clear in a Fox News interview that tariffs are essenti
  
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• Netflix increases UK subscription prices despite record audience

  07-02-2025 18:01 via theguardian.com
  
  Analysts warn streaming service needs to tread carefully as its standard subscription rate goes up by 18%Whether you are binging The Night Agent or American Primeval, getting a Netflix fix has become pricier in the UK as the streaming giant increased subscription costs despite a record audience.The streaming service has upped the cost of its most popular standard subscription without adverts by £2, or 18%, to £12.99 a month. Its other packages are going up in price, too. The last tim
  
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• UK urged to close tax loophole to prevent ‘massive influx’ of Shein and Temu goods

  07-02-2025 17:00 via theguardian.com
  Campaigners and retailers say Britain should follow US and EU in phasing out exemption on duties for low-value parcelsTax campaigners have joined retailers in urging the UK government to close a tax loophole to prevent a “massive influx” of cheap goods from companies such as Shein and Temu flooding the market.It comes after the EU said it was joining the US in phasing out an exemption on customs duties for low-value parcels that has been used by the companies to export goods from Chi
  
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• UK can’t say ‘job done’ on fighting inflation, says Bank of England’s Huw Pill

  07-02-2025 16:50 via theguardian.com
  
  Chief economist warns that ‘cautious’ approach to further interest rate reductions is requiredThe Bank of England is not in a position to declare “job done” in tackling inflation amid concerns over rising prices hitting households, Threadneedle Street’s chief economist, Huw Pill, has said.Speaking a day after the central bank cut interest rates and slashed its growth forecasts for 2025, Pill warned that a “cautious” approach to further interest rate redu
  
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• Australians rack up record credit card spending as growing numbers struggle to pay off debt

  07-02-2025 15:00 via theguardian.com
  
  Reserve Bank statistics show the national credit card debt sits at $17.8bn, up $236m in December 2024 aloneGet our breaking news email, free app or daily news podcastAustralians racked up a record $28bn in personal credit card transactions in December, according to new data, leaving many households unable to clear debts and paying extreme interest charges.The Reserve Bank statistics, analysed by financial comparisons site Canstar, show that Australians are struggling more than ever before to cle
  
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• Former Harrods staff accuse brother of Mohamed Al Fayed of sexual assault

  07-02-2025 14:36 via theguardian.com
  
  Three women allege assaults by Ali Fayed in 1990s when they were working for department storeThe surviving brother of the former Harrods boss Mohamed Al Fayed has been accused of sexual assault by three former Harrods employees, who claim he assaulted them while they were working for the department store.Three women told the BBC they were sexually assaulted by Ali Fayed, 81, in the 1990s when he and his brothers, Mohamed and Salah, owned and ran Harrods. The women said the alleged abuse happened
  
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• The best Valentine’s Day gifts: 34 thoughtful ideas they’ll actually want

  07-02-2025 13:00 via theguardian.com
  
  Forget hot-housed roses and generic chocolates: from a modern mix tape to a padel racket, give them something more considered this yearNot everyone embraces Valentine’s Day. It is, at worst, a commercial free-for-all crammed with out-of-season roses and overpriced, throwaway gifts and, at best, a day that sees you dashing to a supermarket at 6pm trying to find something that doesn’t scream “after-thought”.But if you are going to embrace it, there are some great, thoughtfu
  
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• Nissan on the brink as company warns of 'just 14 months to survive'

  07-02-2025 09:30 via express.co.uk
  
  The CEO of Nissan has reportedly requested that talks between the brand and Honda end after disagreements over how much control either company will have.
  
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• UK house prices jump to new high as stamp duty rise looms, says Halifax

  07-02-2025 09:28 via theguardian.com
  
  Average property price increases by 0.7% in January to record £299,138 as market starts year ‘on positive note’Business live – latest updatesUK house prices bounced upwards in January to a record high as many buyers rushed to complete deals before a stamp duty increase this spring, according to one of the UK’s biggest mortgage lenders.The average property price rose by 0.7% in January to £299,138 after dropping 0.2% in December, Halifax said. Continue reading.
  
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• Brits warned mortgage misery to continue and Donald Trump could make it worse

  07-02-2025 09:28 via express.co.uk
  
  Donald Trump's second US presidency has started with the threat of a trade war that could have repercussions for UK homeowners and borrowers.
  
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• Homes for sale for first-time buyers in England – in pictures

  07-02-2025 08:00 via theguardian.com
  
  Properties priced at £395,000 and below, from a city centre apartment to a country cottage Continue reading...
  
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• ‘We have to reset’: Britain’s TV industry struggling in big-budget streaming era

  07-02-2025 07:00 via theguardian.com
  
  Some see ‘tipping point’ as BBC and others are priced out of high-end dramas, as others say industry must simply adaptBBC and ITV slash big-budget TV spend as US streamers pour money into UKFrom the star of the Golden Globe-winning series Wolf Hall taking a major pay cut, to the BBC shelving premium TV projects due to a lack of funds, UK broadcasters are increasingly being priced out of the Netflix-fuelled golden age of big-budget drama.Over the past year some of the industry’s
  
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• Regulator makes ‘unpredecented’ blunder in legal battle over UK lottery

  07-02-2025 07:00 via theguardian.com
  
  Gambling Commission accidentally hands over thousands of sensitive documents to Richard Desmond’s lawyersThe gambling regulator has accidentally handed over more than 4,000 sensitive documents to lawyers acting for the media tycoon Richard Desmond, in an “unprecedented” blunder during its legal battle over the £6.4bn national lottery contract, the Guardian understands.Northern & Shell (N&S), the investment group owned by Desmond, is suing the Gambling Commission f
  
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• Personal tax allowance 'must be raised to £20,000' for state pensioners amid huge outcry

  07-02-2025 06:50 via express.co.uk
  
  Thousands are demanding the personal tax allowance be raised to £20,000
  
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• Watchdog to investigate two former figures at bankrupt Woking council

  07-02-2025 06:00 via theguardian.com
  
  Exclusive: Local authority in Surrey declared itself effectively bankrupt in 2023 after series of risky investmentsTwo former senior figures at bankrupt Woking council are to be investigated by the UK’s accounting watchdog after it racked up more than £2bn in debt on a failed investment spree.The Surrey council declared itself effectively bankrupt in 2023 after ploughing vast sums of borrowed money into skyscrapers, a luxury hotel and other risky commercial investments, in what was o
  
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• Trump and Musk’s plan for world domination – podcast

  07-02-2025 06:00 via theguardian.com
  
  Between Donald Trump’s suggestion that the US could take control of the Gaza Strip, forcibly removing Palestinians from their homes, and Elon Musk’s continued efforts to dismantle the US federal government, the critics are lining up. The Democrat senator Andy Kim is one of them. But what can he, his party, or anybody else do to stop the president and his non-elected billionaire pal? He speaks to Jonathan FreedlandArchive: ABC News, CNN, NBC News, PBS Newshour, CBS News Continue readi
  
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• Tokyo drift: what happens when a city stops being the future? – podcast

  07-02-2025 06:00 via theguardian.com
  
  Tokyo remains, in the world’s imagination, a place of sophistication and wealth. But with economic revival forever distant, ‘tourism pollution’ seems the only viable plan. By Dylan Levi King. Read by Kenichiro Thomson Continue reading...
  
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• Five red flags that may mean your internet security has been compromised

  07-02-2025 05:40 via express.co.uk
  
  Cyberattacks may not always be as obvious as you may think.
  
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• Urgent warning to millions of UK households on one type of mortgage

  07-02-2025 05:00 via express.co.uk
  
  Brits on fixed-rate mortgage deals could secure lower repayments if their term ends this year.
  
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• Water debt rises ahead of April increase - where households can turn for help

  07-02-2025 04:07 via express.co.uk
  
  Some households may be able to cut their bill by up to 50%
  
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• Savers warned ‘window may be closing’ after BoE decision - What to do next

  07-02-2025 03:00 via express.co.uk
  
  Savers may not realise how bleak their outlook is for this year, experts have warned
  
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• DWP rolls out £3.5 million plan to address musculoskeletal conditions

  07-02-2025 02:00 via express.co.uk
  
  The DWP has announced what could be a major change
  
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