Financial news

• Liz Kendall struggles to sell ‘immoral and devastating’ disability benefits cut

  18-03-2025 20:59 via theguardian.com
  
  Disability charities call foul as welfare secretary buries austerity-like news under earnest talk of reformLiz Kendall unveils UK benefits cuts set to leave many sick and disabled worse offThe disability benefit reforms statement issued by the welfare secretary, Liz Kendall alongside £5bn of cuts felt like Labour’s latest attempt to answer the question that seems to come up every time it tackles a thorny social policy issue and deliver bad news. Namely: how is this different from lif
  
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• Up to 1.2m disabled people will lose thousands in UK welfare overhaul, experts warn

  18-03-2025 20:53 via theguardian.com
  
  Liz Kendall, the work and pensions secretary, laid out plans for £5bn savings but faces rebellion from some Labour MPsUp to 1.2 million people with disabilities will lose thousands of pounds under the government’s welfare overhaul, experts have said, as campaigners warn the plan will exacerbate the country’s mental health crisis and push more children into poverty.Liz Kendall, the work and pensions secretary, laid out her long-awaited changes to the benefits system on Tuesday,
  
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• Regulators must not go soft on Thames Water now

  18-03-2025 20:22 via theguardian.com
  
  With six bids on the table, the company’s reference to ‘support and accommodations’ sounds like a plea for special treatmentWho wants to invest in Thames Water? Six parties have made proposals, said the company on Tuesday, adding that it hopes to have a financial restructuring deal on the table by the end of June. Five of the six plans involve write-downs for holders of the senior class A debt. Then came the vague – but crucial – bit. Most of the proposals “ar
  
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• The Guardian view on benefit cuts: these harmful changes must be fought | Editorial

  18-03-2025 19:55 via theguardian.com
  
  Reform of a flawed social security system is needed. But reducing payments to disabled claimants will only increase hardshipWith self-imposed fiscal rules leaving it little room for manoeuvre, the government has made its choice: no to more borrowing, tax rises or the wealth tax suggested by some of its own MPs – and yes to cutting disability benefits. Speaking in the House of Commons, Liz Kendall, the work and pensions secretary, did her best to talk up the £1bn funding she has secur
  
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• Older state pensioners born in these years paid extra 25p in pension

  18-03-2025 18:00 via express.co.uk
  
  The 25p additional payout for pensioners is included in the DWP's benefits list for April 2025.
  
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• The Crusader: Passenger ready to fly again after two year struggle to get refund

  18-03-2025 17:45 via express.co.uk
  
  Holidays lost their allure for a traveller when, after almost two years, she was still struggling to get a refund for cancelled flights to New York.
  
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• Chinese EV maker BYD says fast-charging system could be as quick as filling up a tank

  18-03-2025 16:34 via theguardian.com
  
  BYD unveils platform with charging power of 1,000 kW, which would be twice as fast as Tesla’s superchargingCan BYD’s batteries really charge in five minutes?The Chinese electric vehicle maker BYD has unveiled a new charging system that it said could make it possible for EVs to charge as quickly as it takes to refill with petrol.BYD’s Hong Kong-listed shares gained 4.1% on Tuesday to hit a record high of 408.80 Hong Kong dollars, as investors bet that the company could strengthe
  
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• Martin Lewis warns Brits 6 major price hikes are all coming from April 1

  18-03-2025 16:27 via express.co.uk
  
  UK households face a swathe of price increases from next month as new rates on water, energy and more take effect.
  
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• State pensioners urged to increase tax-free HMRC Personal Allowance to £18,570

  18-03-2025 16:25 via express.co.uk
  
  State pensioners have been told about the useful loophole to boost their tax-free Personal Allowance.
  
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• The incredible shrinking airlines: can anyone actually be comfortable in a 17-inch seat?

  18-03-2025 16:15 via theguardian.com
  
  There are many good reasons to quit flying – primarily, of course, the climate crisis. And the lack of legroom suggests airlines are actually trying to squeeze us out ...Name: Tiny seats.Age: If you look at pictures of the Wright brothers’ first flights in 1903, it looks as if they had plenty of legroom. It’s been downhill ever since. Continue reading...
  
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• Thames Water hopes to agree deal with one of six bidders by end of June

  18-03-2025 16:12 via theguardian.com
  
  Debt-laden company agrees with Ofwat that review of bill rises can be delayed as it seeks buyerThames Water has said it hopes to agree a deal with one of six bidders by the end of June and has secured a delay to a review of its bill increases to smooth the rescue process.The UK’s biggest water company said negotiations were continuing and it wanted to complete the transaction by the end of September. Continue reading...
  
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• PIP alert as 'devastating' eligibility changes mean this group will lose £3,850

  18-03-2025 16:09 via express.co.uk
  
  The DWP has announced a review of PIP assessments
  
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• Deep cuts, Pip and ‘right to try’ work: the key changes in UK benefits overhaul

  18-03-2025 16:04 via theguardian.com
  
  Disability and sickness benefits will be reduced, but measures aim to protect the most disabled peopleThe work and pensions secretary has announced deep cuts to payments made to many of those on disability and sickness benefits, though with a number of mitigations aimed at protecting the most disabled people.Liz Kendall said the system was “failing the very people it is supposed to help and holding our country back”, citing statistics showing a rapid increase in disability claims. Co
  
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• The best hair straighteners for foolproof styling, tried and tested by our expert

  18-03-2025 16:00 via theguardian.com
  From cordless designs to budget buys, we’ve tested the top hair straighteners for every hair type• Everything I’ve learned as a beauty columnist about the products that actually workStraighteners are here to stay – but thankfully, heat styling has come a long way since GHD’s first ceramic straighteners ushered in an era of poker-straight hair in 2001. Today’s models feature adjustable heat settings and protective technology for hairstyling with minimal damage.T
  
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• Is Trump driving the US into a recession? – in charts

  18-03-2025 16:00 via theguardian.com
  
  Warning lights are flashing on a dashboard of economic indicators as analysts grow alarmed about a ‘Trumpcession’Prospects for the US economy have cooled significantly in a matter of months. After outperforming its international peers last year, warning lights are flashing on a dashboard of economic indicators as analysts warn that Donald Trump’s erratic approach is hitting the world’s largest economy.Fears of a US recession this year are growing, in what is being called
  
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• Elon Musk’s Starlink internet service installed in White House

  18-03-2025 15:59 via theguardian.com
  
  Billionaire denies conflict of interest as he heads Trump initiative to cut costs throughout federal governmentUS politics live – latest updatesElon Musk’s Starlink internet service is now available at the White House, the New York Times reported, exacerbating conflict of interest concerns that are growing with each day the world’s richest person spends at the heart of government.Karoline Leavitt, Donald Trump’s White House press secretary, said the installation was done
  
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• Major DWP changes to Universal Credit - and it's good news for claimants

  18-03-2025 15:33 via express.co.uk
  
  The move aims to address "financial incentives" that encourage people to remain out of work.
  
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• The case for boycotting the United States | Robert Reich

  18-03-2025 15:00 via theguardian.com
  
  If you are considering a trip to the US, please reconsider. Why reward Donald Trump’s America with your tourist dollars?To friends of democracy around the world: we need your help.You know that the Trump regime is brutally attacking US democracy. Most of us did not vote for Donald Trump (half of us didn’t even vote in the 2024 election). But he feels he has a mandate to take a wrecking ball to the constitution.Robert Reich, a former US secretary of labor, is a professor of public pol
  
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• Millions of workers to get pay rise in April - how you'll be affected

  18-03-2025 14:41 via express.co.uk
  
  The minimum wage is set to rise in a few weeks, meaning millions of workers will see an increase in their pay
  
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• Google’s parent to buy cybersecurity group Wiz in its biggest ever deal

  18-03-2025 14:23 via theguardian.com
  
  Alphabet’s acquisition of Israeli startup for $32bn follows rejection of takeover bid last summerBusiness live – latest updatesGoogle’s owner, Alphabet, has agreed to buy the cybersecurity group Wiz for $32bn (£24.7bn), the biggest acquisition it has ever made.The search company’s purchase of the Israeli startup comes as Google attempts to catch its competitors Microsoft and Amazon in the competitive cloud services market. Continue reading...
  
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• Canada and Europe declare war on Donald Trump using US F-35 Fighter Jets

  18-03-2025 14:12 via express.co.uk
  
  Donald Trump has launched economic warfare on US allies. But they have a secret weapon, and it's made in America.
  
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• POLL: Should all shops in the UK be forced to accept cash?

  18-03-2025 13:25 via express.co.uk
  
  A rising number of outlets are going cash-free - is this acceptable? Vote now.
  
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• Mums told not to pay for State Pension before urgent deadline

  18-03-2025 13:03 via express.co.uk
  
  An April deadline has been set for people to be able to top up their pension pots by buying back National Insurance years.
  
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• DWP's £759 'cut' for people on multiple benefits

  18-03-2025 13:02 via express.co.uk
  
  The DWP has chosen not to increase the benefits cap from April, and inflation is at 3% this year.
  
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• Car finance firm Close Brothers slumps to loss after taking £165m hit

  18-03-2025 12:16 via theguardian.com
  
  Company’s shares plunge as it estimates total costs of £200m this year from motor finance scandalBusiness live – latest updatesClose Brothers, one of the UK’s biggest providers of car loans, has slumped to a £103m loss as it deals with the fallout of the motor finance commission scandal, which it estimates will cost it a total of £200m this year.The lender also scrapped its dividend again. Its shares plunged by 17% on the news. Continue reading...
  
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• VR headsets, yoga mats and pool sliders added to UK ‘inflation basket’

  18-03-2025 10:30 via theguardian.com
  
  Pulled pork replaces oven-ready gammon joints, and local newspaper adverts are out on ONS listBusiness live – latest updatesVirtual reality headsets, yoga mats and men’s pool sliders have been added to the shopping basket used to calculate the cost of living in Britain, while local newspaper adverts and oven-ready gammon joints have been removed.In a snapshot of an increasingly online, time-pressed nation, the Office for National Statistics said the annual review of its inflation bas
  
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• My late husband’s care home owes me £10,000 and won’t pay

  18-03-2025 09:30 via theguardian.com
  
  The council took over the costs for his care and sent the provider a refund for five months of fees I’d paid. But it isn’t passing it onCan you help me get £10,000 owed to me by the care home provider Leicestershire County Care?My husband was resident in one of their care homes before he died in June last year. Because our savings had dropped below the ­government threshold for self-funded care, the local authority had agreed to pay the £5,000-a-month cost. However, b
  
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• Call it a defence levy or even a patriot tax – but Labour is going to have to raise taxes, fast | Gaby Hinsliff

  18-03-2025 09:00 via theguardian.com
  
  The world has shifted and defence spending has to rise. But time is running out for the government to make a case for itFive years ago this weekend, life as we knew it was suspended overnight. Though with hindsight it seems amazing that it took Britain so long to lock down in the face of a gathering pandemic, at the time the pace of events felt dizzyingly fast.It took a still-young government time to realise its manifesto was toast; that it would be forced into decisions either it or the public
  
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• Isas: six steps to take before the April allowance deadline

  18-03-2025 08:00 via theguardian.com
  
  From shopping around to filling up an existing pot, follow these tips on a tax-efficient way to save or invest moneyThe maximum you can put away each tax year in any adult Isa is £20,000. That limit does not include any interest or other returns earned on your money. It covers all types of Isa you may hold: any cash, stocks and shares, innovative (containing peer-to-peer investments), lifetime or help-to-buy Isas. Continue reading...
  
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• Did you catch that? On the boats with Cornish fishers – in pictures

  18-03-2025 08:00 via theguardian.com
  
  Flying lobsters, cuttlefish ink and stargazy pie … Jon Tonks got on his kayak to spend 18 months photographing the incredible fishing communities around England’s south-west coast Continue reading...
  
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• ‘Staggeringly high’: Australian renters need $130k income to afford average property, report shows

  18-03-2025 07:25 via theguardian.com
  
  People earning $70,000 a year spend more than half of their income (52%) on the national median unit rentFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralian renters now need an annual income of $130,000 to comfortably rent an average unit, with even six-figure earners facing housing costs exceeding 30% of their income in capital cities and many regional areas, a new report has found.The 2025 Priced Out report by national hou
  
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• ‘In a rut’: cost of fixing pothole-plagued roads in England and Wales soars to £17bn

  18-03-2025 07:00 via theguardian.com
  Despite the government pledging extra funds and one hole being filled every 18 seconds, motoring groups say situation looks ‘bleak’ for driversThe cost of fully fixing the pothole-plagued local roads of England and Wales has reached a new high of almost £17bn, according to the latest industry report.The record sums required come despite increased government funds to target road repairs – and one pothole being filled every 18 seconds. Continue reading...
  
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• Ikea to open Oxford Street store in May after 18-month delay

  18-03-2025 01:01 via theguardian.com
  
  Swedish furniture retailer’s arrival is seen as crucial to hopes of reviving the London shopping streetIkea will be bringing its mix of meatballs, lampshades and kitchen planning to London’s Oxford Street from 1 May, when the world’s largest furniture retailer finally opens its store 18 months late.The company said its three-floor outlet, in the former Topshop base, would house a 130-seat Swedish deli and showrooms, as well as offering one-to-one design consultations. Continue
  
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