Financial news

• Napster, now a streaming service, sells for $207m to Infinite Reality

  25-03-2025 21:44 via theguardian.com
  
  Tech startup says it bought company once linked to music piracy to transform it into a social music platform for artistsA brand that was notoriously connected to music piracy before re-emerging as a subscription music service, has been sold to Infinite Reality for $207m.The tech startup announced on Tuesday it had bought Napster in hopes of transforming the streaming service into a social music platform where artists can connect with fans and better monetize off their work. Continue reading...
  
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• Martin Lewis issues major state pension message worth tens of thousands to some savers

  25-03-2025 21:35 via express.co.uk
  
  The Money Saving Expert has warned that people have until April 5 to check if they are eligible to boost their state pension.
  
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• Rising fears of Trump tariffs pummel US consumer confidence to four-year low

  25-03-2025 20:10 via theguardian.com
  
  Tariffs panned by economists for sowing uncertainty that they said made it challenging for businesses to plan aheadUS consumer confidence plunged to the lowest level in more than four years in March, with households fearing a recession in the future and higher inflation because of tariffs.The Conference Board said on Tuesday that write-in responses to the survey showed “worries about the impact of trade policies and tariffs in particular are on the rise”, adding: “There were al
  
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• Martin Lewis advice settles debate on cheapest time to run your washing machine

  25-03-2025 19:40 via express.co.uk
  
  Martin Lewis has previously had his say on the cheapest time to run a washing machine.
  
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• DWP says 1.3 million people 'will be £100 better off' after changes in April

  25-03-2025 19:13 via express.co.uk
  
  The Department for Work and Pensions has announced that over one million people are set to be "£100 better off" from a new change being implemented
  
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• Rachel Reeves: For the umpteenth time, it’s not an emergency budget! | John Crace

  25-03-2025 19:11 via theguardian.com
  
  WhatsApp exclusive: PM and cabinet in upbeat mood ahead of tomorrow’s eagerly anticipated emergency budget … erm, spring statementKeir Starmer: OK, everyone. I want you to get an early night. It’s Rachel’s big day tomorrow and we all need to be ready to support her.Angela Rayner: So no going out to a Sabrina Carpenter concert tonight. Continue reading...
  
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• Some water boss bonuses in England could be banned, says Ofwat

  25-03-2025 18:09 via theguardian.com
  
  New powers mean regulator can ban payouts under criteria of Ofwat’s choosingBonuses for water bosses in England could be banned this year for companies that spill sewage, break the law or mismanage their finances, Ofwat has announced.The regulator has launched a consultation into draft criteria under which it would ban bonuses being paid to chief executives. Sources at Ofwat told the Guardian they are near-certain to ban some water CEO bonuses this year. Continue reading...
  
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• Shell plans more cuts to costs and spending but hands CEO bigger bonus

  25-03-2025 17:52 via theguardian.com
  
  Increase in pay package comes despite fall in profits and as oil company waters down pledge to cut emissionsThe oil company Shell has revealed plans to hand bigger payouts to its chief executive and shareholders – by pumping more oil and gas and halving its green spending.Europe’s largest oil and gas producer will hand its chief executive, Wael Sawan, a package worth £8.6m for last year, from £7.9m in 2023. The pay hike, labelled “obscene” by green campaigners
  
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• LA-to-Shanghai United Airlines flight turns back after pilot forgets passport

  25-03-2025 17:51 via theguardian.com
  
  Plane was over Pacific Ocean when pilot realized he didn’t have his document and headed back to switch out crewPassengers heading to China aboard a recent United Airlines flight faced an unexpected travel headache after a pilot’s forgotten passport prompted their return to the United States.Flight UA198 from Los Angeles to Shanghai was over the Pacific Ocean on Saturday afternoon when it made a U-turn and headed to San Francisco, tracking data showed. Continue reading...
  
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• What is likely to happen to Cash ISAs in Rachel Reeves spring statement

  25-03-2025 17:39 via express.co.uk
  
  Cash ISAs have been on the chopping block for months according to rumour but on Wednesday Rachel Reeves will unveil her plans for the economy.
  
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• FBI forms taskforce over rising reports of vandalism at Tesla dealerships

  25-03-2025 17:05 via theguardian.com
  
  Amid protests, White House officials close ranks around the Tesla owner leading efforts to slash federal jobsEscalating reports of vandalism at Tesla dealerships and charging stations across the US have prompted the FBI to create a taskforce to target the perpetrators.The development, announced by Kash Patel, the bureau’s director, comes as White House officials close ranks around Elon Musk, the Tesla owner and world’s richest person who has been leading efforts to slash federal jobs
  
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• Lower Thames Crossing plan for Essex and Kent approved by government

  25-03-2025 17:00 via theguardian.com
  
  Heidi Alexander gives green light to controversial £9bn tunnel, Britain’s biggest single planned road-building projectBusiness live – latest updatesThe transport secretary has given formal approval to the controversial and long-delayed £9bn Lower Thames Crossing, Britain’s biggest road-building project.Heidi Alexander granted a development consent order on Tuesday morning to the new road tunnel under the Thames joining Essex and Kent, after the decision had been pus
  
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• What to expect from Rachel Reeves’s (brief) spring statement

  25-03-2025 16:48 via theguardian.com
  
  Talk of tough choices ahead, an increase in debt financing, and more initiatives to promote growthThe spring statement offers an opportunity for Rachel Reeves to talk about progress since last October’s budget, the government’s growth agenda and how it is attempting to raise living standards. However, the chancellor’s message is likely to be defensive after being blown off course in recent months.Last year she promised “no return to austerity”. But after stalled tax
  
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• Ticketmaster may have breached law in pricing Oasis tickets, says CMA

  25-03-2025 15:15 via theguardian.com
  
  UK watchdog seeks changes to the way company labels tickets and provides pricing information, as some fans pay more than £350 for £150 ticketsThe UK competition watchdog has said that Ticketmaster may have broken consumer protection law in the way it sold more than 900,000 tickets for Oasis’s reunion tour last year.An investigation by the Competition and Markets Authority (CMA) has found that Ticketmaster may have misled fans, some of whom paid more than £350 for tickets
  
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• The Crusader: No smartphone, no app - investor makes a stand against digital banking

  25-03-2025 14:52 via express.co.uk
  
  The Crusader helped customer Yvonne Grant when she faced a financial digital ordeal.
  
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• From spit to bankruptcy: the rise and fall of 23andMe

  25-03-2025 14:17 via theguardian.com
  
  Plus: Nvidia bets on AI-powered robots, Musk juggles Tesla and politics, and AI fiction takes over InstagramHello, and welcome to TechScape. In this week’s edition: 23andMe files for bankruptcy, Nvidia forecasts a fusion of AI and robotics, and AI enables the creation of fiction at the pace of social media.Genetic testing firm 23andMe filed for bankruptcy on Monday. The CEO and co-founder Anne Wojcicki has stepped down after several attempts at a buyout. Once valued as high as $5.8bn in 20
  
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• Santander to slash opening hours in 36 UK stores - check if your local branch is impacted

  25-03-2025 14:07 via express.co.uk
  
  The move comes after Santander announced plans to close 95 of its branches.
  
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• Bank of England chief warns of two threats to UK's economy

  25-03-2025 14:01 via express.co.uk
  
  Andrew Bailey warned that growth has slowed "markedly" over the last 15 years which has affected the advance of living standards
  
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• What time is Chancellor Rachel Reeves' spring statement? Speech and policies to expect

  25-03-2025 12:50 via express.co.uk
  
  The spring statement will see Chancellor Rachel Reeves set out the UK's economic position and could touch on key policy affecting households too.
  
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• Brits declare 'pubs are dead' as cost of pint of beer set to reach new high

  25-03-2025 12:32 via express.co.uk
  
  The average cost of a price of a pint of beer in Britain is set to reach a new hight following Rachel Reeves' budget statement on Wednesday .
  
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• Globalisation may have run its course in current form, says HSBC chair

  25-03-2025 12:29 via theguardian.com
  
  Trade tensions in era of Trump tariffs create serious potential risk to global growth, warns Sir Mark TuckerGlobalisation “may have now run its course” in its current form, according to the chair of HSBC, as geopolitical tensions and US tariffs threaten to upend existing global trade.Speaking at the bank’s global investment summit in Hong Kong on Tuesday, Sir Mark Tucker warned that trade tensions created uncertainty that posed a “serious potential risk to global growth&r
  
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• Something vital is missing from Labour’s housing policy: council houses | Abi O'Connor

  25-03-2025 11:00 via theguardian.com
  
  The government’s new planning bill looks likely to serve the interests of landlords rather than hard-up rentersAmelia* is a full-time working mother of two being forced to leave her home because she can’t afford the latest rent increase from her private landlord. On paper, Amelia’s one of the luckier ones: she has a stable job and lives in a city where rents are 35% lower than the national average. Yet for three months, Amelia has failed to find a single alternative home she co
  
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• Opt out: what to do with your 23andMe account after company filed bankruptcy

  25-03-2025 11:00 via theguardian.com
  
  The genetic testing firm filed for bankruptcy after a major data breach. Here’s how to protect your DNA privacyWelcome to Opt Out, a semi-regular column in which we help you navigate your online privacy and show you how to say no to surveillance. The last column covered how to stop tech companies spying on your phone as Trump promises mass deportations.The DNA testing company 23andMe has filed for bankruptcy after months of concern over its financial health and its ability to keep users&rs
  
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• City watchdog ponders rule changes to simplify comparisons of financial products

  25-03-2025 01:01 via theguardian.com
  FCA to explore simplifying communications about savings accounts and review parts of its credit advertising rulesThe City watchdog is considering changing rules to allow people to receive clearer information from financial firms to make it easier for them to find and compare products.The Financial Conduct Authority (FCA) is exploring how it can simplify communications about savings accounts. The watchdog, which will announce its five-year strategy on Tuesday, will also review parts of its credit
  
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• Airlines could take legal action over Heathrow shutdown

  25-03-2025 00:14 via theguardian.com
  Body representing over 90 firms says it could take airport to court over costs of closure if issue not ‘amicably settled’A body representing more than 90 airlines using Heathrow airport said there might be a case for legal action if a settlement over the costs incurred from Friday’s closure after a fire is not reached.Europe’s largest airport was closed in the early hours of Friday morning after the blaze at a major electricity substation hit electricity supplies. Continu
  
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