Financial news

• The law on service charges is grossly unfair | Letters

  03-02-2026 18:29 via theguardian.com
  Leaseholders have little or no control over service charges – the system needs urgent attention, writes Chris Wallis.While your editorial on leasehold reform (29 January) is right to say that action on ground rents is long overdue, as is the abolition of leasehold altogether, and that the right to manage is a key part of leaseholders taking control of their buildings, it misses a key point: the law around service charges is archaic and deeply unfair.As it currently stands, unless they mana
  
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• Enforcement is the issue on the decent homes standard | Letters

  03-02-2026 18:28 via theguardian.com
  Dr Stephen Battersby fears that England could be doubling up on underresourced regulatory agenciesWhile the anger at the timeline for enforcing the decent homes standard (DHS) in England might be expected, it is also arguable that enforcing decent home standards is not as difficult as campaigners make out (‘Absurd’: decent homes standard for England’s private renters will not be enforced until 2035, 28 January).Local authorities already have powers and duties to deal with threa
  
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• Santander offers 98% mortgage for first-time buyers – with strict rules

  03-02-2026 18:04 via theguardian.com
  Fixed-rate loan will not be available on flats and new-builds, and loan must be no more than 4.45 times salaryOne of Britain’s biggest banks has launched a mortgage that lets first-time buyers borrow up to 98% of the property’s value – but experts said the “very strict” rules would exclude many people and property types.Santander said this was the first time for years that a major high street bank had gone beyond the traditional 95% borrowing limit, and some mortgag
  
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• UK privacy watchdog opens inquiry into X over Grok AI sexual deepfakes

  03-02-2026 17:46 via theguardian.com
  Information Commissioner’s Office to investigate whether Elon Musk’s firms have complied with data protection lawElon Musk’s X and xAI companies are under formal investigation by the UK’s data protection watchdog after the Grok AI tool produced indecent deepfakes without people’s consent.The Information Commissioner’s Office is investigating whether the social media platform and its parent broke GDPR, the data protection law. Continue reading...
  
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• The lithium boom: could a disused quarry bring riches to Cornwall?

  03-02-2026 17:08 via theguardian.com
  Known as ‘white gold’, lithium is among the most important mined elements on the planet – ideal for the rechargeable batteries used in tech products. Can Europe’s largest deposit bring prosperity to the local community?It looks more like the past than the future. A vast chasm scooped out of a scarred landscape, this is a Cornwall the summer holidaymakers don’t see: a former china clay pit near St Austell called Trelavour. I’m standing at the edge of the pit lo
  
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• Anthropic’s launch of AI legal tool hits shares in European data companies

  03-02-2026 17:01 via theguardian.com
  Pearson, Experian and others fall sharply after startup unveils software to automate a range of professional servicesEuropean publishing and legal software companies have suffered sharp declines in their share prices after the US artificial intelligence firm Anthropic revealed a tool for use by companies’ legal departments.Anthropic, the company behind thechatbot Claude, said its tool could automate legal work such as contract reviewing, non-disclosure agreement triage, compliance workflow
  
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• The best boots for men: 15 favourites, from chelsea to brogues to wellies

  03-02-2026 16:00 via theguardian.com
  A good pair of boots is essential in the colder months, and our fashion expert has picked out the best ones for every occasion• The best men’s coats for winterMuch like our bodies, our wardrobes need to acclimatise to winter. It’s time to unpack your chunky knitwear and arm yourself with a waterproof coat or an umbrella at all times. And you can shelve your shoes and switch to boots instead.It’s good to have a few pairs at your disposal so you’re covered no matter wh
  
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• Disney names parks and cruises boss Josh D’Amaro as next CEO

  03-02-2026 15:47 via theguardian.com
  D’Amaro will take over next month from Bob Iger, who returned to lead the media company after a bungled successionDisney has unveiled Josh D’Amaro as its next CEO, drawing a line under a bungled succession at the top of the global entertainment conglomerate.Bob Iger, who led the media giant for 15 years, stepped down in 2020 – only to abruptly return in 2022 when his handpicked successor, Bob Chapek, was fired as the company came under pressure. Continue reading...
  
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• Disastrous start for US TikTok as users cry censorship

  03-02-2026 15:18 via theguardian.com
  New US-owned app struggled with a storm and was accused of blocking content critical of Trump – can it recover?Hello, and welcome to TechScape. I’m Blake Montgomery, writing to you from Doha, where I’m moderating panels about AI and investing as part of the Web Summit Qatar.I want to bring your attention to the impact of a Guardian story. In December, we published a story, “‘A black hole’: families and police say tech giants delay investigations in child abuse
  
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• ‘We never would have bought’: Australian mortgage holders feel the pain as interest rates rise again

  03-02-2026 15:00 via theguardian.com
  The RBA’s widely anticipated decision marks the end of the shortest rate-cutting cycle in the reserve’s modern history, hitting mortgagees hardGet our breaking news email, free app or daily news podcastAs the RBA lifted the official interest rate on Tuesday, one regional New South Wales couple said the dream of building a home has turned into a financial “hustle” they no longer want to maintain.After the pair, 25 and 26, settled on land in September 2022, rising rates and
  
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• EU has ‘open mind’ on UK customs union talks, says official

  03-02-2026 10:54 via theguardian.com
  Valdis Dombrovskis says bloc is ‘ready to engage’ amid meetings with ministers including Rachel ReevesBusiness live – latest updatesThe European Commission would be “open-minded” to discussing closer trade ties with the UK, including a customs union, a senior EU official has said.The EU economy commissioner, Valdis Dombrovskis, told the BBC that the European bloc was “ready to engage with an open mind” when asked about a customs union. Continue reading..
  
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• UK shoppers buy more fruit and yoghurt in healthy start to 2026

  03-02-2026 09:42 via theguardian.com
  Britons cut back in January after record grocery spending in December, turning to own-label productsBusiness live – latest updatesBritons started 2026 by buying more healthy food such as fruit and yoghurt as they attempted to hit new year health goals, while grocery price inflation eased to the lowest level since April, research has shown.Annual grocery inflation fell back to 4% in the four weeks to 25 January from 4.7% in December, offering some relief for shoppers, according to a monthly
  
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• Elon Musk merges SpaceX with xAI at $1.25tn valuation

  03-02-2026 08:25 via theguardian.com
  Aerospace business and artificial intelligence firm to unite for IPO as world’s most valuable private companyBusiness live – latest updatesElon Musk’s aerospace company SpaceX has acquired his artificial intelligence business xAI, in a $1.25tn (£910bn) merger that consolidates part of Musk’s empire as SpaceX prepares to go public later this year.The two companies announced the deal on Monday in a statement on SpaceX’s website, saying the merger would form &ldq
  
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• RBA interest rates decision: Reserve Bank increases cash rate to 3.85% in blow to mortgage holders

  03-02-2026 08:14 via theguardian.com
  Shortest rate-cutting cycle in the RBA’s modern history ends after unexpected jump in inflation Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Reserve Bank has hiked rates for the first time in more than two years, and signalled there could be more to come, with mortgage holders to bear the brunt of dealing with a sharp and unexpected jump in inflation.The RBA monetary policy board announced on Tuesday at the end of its
  
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• HMRC thinks I am someone else – and it’s costing me £450 a month

  03-02-2026 08:00 via theguardian.com
  Tax authority has associated a stranger’s national insurance number to my own, and is charging me as if I have two jobsIn November, HM Revenue and Customs randomly associated someone else’s job to my national insurance (NI) number. I can see where they work, when they started, their payroll number and how much they are earning.HMRC is now taxing me as if I have two jobs, earning twice as much as I do, and adding on a tax adjustment for the tax it thinks I didn’t pay last year.
  
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• Student loans: why is Martin Lewis clashing with Rachel Reeves?

  03-02-2026 07:00 via theguardian.com
  MoneySavingExpert founder has said changes that will lead to some graduates in England and Wales paying more are ‘not moral’Graduates in England and Wales: share your views on student loan repaymentsA fairly technical-sounding change to student loans tucked away in last November’s budget has become the catalyst for an increasingly bad-tempered row pitting the UK consumer champion Martin Lewis against the chancellor, Rachel Reeves.In one interview, Lewis – the founder of M
  
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• Interest rates: RBA concedes hike to 3.85% is ‘not the news mortgage holders want to hear’ – video

  03-02-2026 06:30 via theguardian.com
  The governor of the Reserve Bank of Australia (RBA), Michele Bullock, says she empathises with mortgage holders but defends Tuesday’s decision to lift the cash rate for the first time in more than two years. ‘Now, I know this is not the news that Australians with mortgages want to hear, but it is the right thing for the economy,’ says the governorRBA interest rates decision: Reserve Bank increases cash rate to 3.85% in blow to mortgage holders Continue reading...
  
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• Riverford sales rise 6% as UK organics market enjoys biggest boom in two decades

  03-02-2026 06:00 via theguardian.com
  Sector bounces back as consumers focus on provenance and healthy eating, but is still well behind EuropeConsumers searching for healthy food from trusted sources have fuelled the UK organic market’s biggest boom in two decades, according to vegetable box seller Riverford.The delivery business, which sells meat, cheese, cookbooks and recipe boxes alongside vegetables, recorded a 6% increase in sales to £117m in the year to May 2025, as the UK organic food and drink market grew by almo
  
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• Will China replace the US on the world stage? – podcast

  03-02-2026 04:00 via theguardian.com
  A succession of political leaders have been trooping to Beijing in recent months. Is it an indication of a new world order? Tania Branigan explainsXi Jinping had a busy January. First came the Irish taoiseach, Micheál Martin. Then it was Mark Carney of Canada’s turn. He was followed by the Finnish prime minister, the Uruguayan president and then, last week, Keir Starmer.But what does this rush to China mean? The Guardian leader writer Tania Branigan says much of it is to do with Tru
  
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• Trump unveils $12bn critical minerals stockpile scheme in apparent move to counter China’s dominance

  03-02-2026 03:20 via theguardian.com
  Other countries are expected to join Project Vault, which US president said would ensure that US businesses are ‘never harmed by any shortage’Donald Trump has announced the creation of a critical mineral reserve worth nearly $12bn, a stockpile that could counter China’s ability to use its dominance of the hard-to-process metals as leverage in trade talks.“Today we’re launching what will be known as Project Vault to ensure that American businesses and workers are nev
  
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• Barnsley rebranded UK’s first ‘tech town’ as US giants join AI push

  03-02-2026 01:01 via theguardian.com
  Minister announces Microsoft, Cisco and Adobe to help apply AI to local schools, hospitals, GPs and businessesIn 2002 Barnsley toyed with a redesign as a Tuscan hill village as it sought out a brighter post-industrial future. In 2021 it adopted the airily vague slogan “the place of possibilities”. Now it is trying a different image: Britain’s first “tech town”.The technology secretary, Liz Kendall, has anointed the South Yorkshire community as a trailblazer for &ldq
  
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