Financial news

• Don’t be fooled by ads for 'cheap' electric heaters, watchdog warns

  26-01-2023 01:01 via express.co.uk
  
  Pensioners were told on Wednesday not to be tricked into believing electric heaters can warm their homes quickly and cheaply.
  
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• How much state pension you receive with minimum contributions - and how to boost payment

  02-02-2023 22:00 via express.co.uk
  
  The current age when a Briton can claim their state pension entitlement is 66 for both men and women.
  
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• 'Urgent action' needed to help mortgage prisoners after latest interest rate hike

  02-02-2023 18:50 via express.co.uk
  
  Campaigners are calling on the government to take "urgent action" to help mortgage prisoners after today's Bank of Enland interest rate increase.
  
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• Thousands of Britons could be missing out on £628 a month in PIP payments

  02-02-2023 18:14 via express.co.uk
  
  A benefits expert has said people who live with a common circulation problem could be missing out on Personal Independence Payments worth up to £156 a week.
  
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• Do you need a TV licence or could you save £159 on the BBC licence fee? Rules explained

  02-02-2023 16:56 via express.co.uk
  
  Not having a TV licence could cost people £1,000 but some people are forking out for a TV licence unnecessarily and could save £159 a year.
  
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• Finance expert says now is a good time to move savings accounts - get up to 4.7% interest

  02-02-2023 16:27 via express.co.uk
  
  A personal finance expert has explained why now could be a good time for people to ensure they are getting the best interest rates on their savings.
  
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• British Gas is offering customers £250 free credit to help with bills - can you claim?

  02-02-2023 15:49 via express.co.uk
  
  British Gas is giving free energy credit to prepayment customers who are struggling to top up their meters as prices rise and the weather gets colder.
  
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• ‘Very little effort’: Woman earns £600 a year with ‘simple’ side hustle

  02-02-2023 15:31 via express.co.uk
  
  The woman said it was a "lightbulb moment" when she came across the easy way to boost her income.
  
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• BoE just scuppered hopes of Jeremy Hunt cutting taxes - and here's why

  02-02-2023 15:15 via express.co.uk
  
  If there is one thing I have learned from more than 20 years of writing for the Express, is that our readers love a good tax cut.
  
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• ‘Too slow on inflation!’ Bank of England’s 4% interest rate hike slammed

  02-02-2023 13:59 via express.co.uk
  
  The Bank of England has been critiqued for its decision to hike interest rates again, as inflation starts to fall.
  
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• Homeowners face mortgage increase up to £430 a month after Bank of England base rate rise

  02-02-2023 11:58 via express.co.uk
  
  The Bank of England has raised interest rates for the 10th consecutive time by 0.5 percentage points, meaning mortgage holders face forking out hundreds extra each month.
  
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• Savings accounts lose money as ISAs ‘slow to pick up’ rising interest rates

  01-02-2023 15:16 via express.co.uk
  
  Savings accounts have lost money in the last year despite interest rates rising at record levels, according to experts
  
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• NS&I brings back 'popular' savings option and increases interest rates for 500,000 savers

  01-02-2023 14:19 via express.co.uk
  
  NS&I is offering new issues of its one-year fixed rate Guaranteed Growth Bonds and Guaranteed Income Bonds.
  
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• Savings account paying 'top' 3.03 percent interest rate with easy access on up to £85,000

  01-02-2023 13:59 via express.co.uk
  
  This is the first open-market full easy-access savings paying over three percent since 2012, according to Martin Lewis' MSE.
  
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• Instagrammer distraught after online scam saw him and his followers lose £100,000

  01-02-2023 13:50 via express.co.uk
  
  Scammers are hacking into social media accounts, posing as victims' friends in order to swindle thousands from them.
  
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• 'Many people don't know about it': Key tip to cut childcare costs as prices soar

  01-02-2023 12:46 via express.co.uk
  
  Some childcare providers have increased rates by as much as 10 percent this year to keep up with rising running costs.
  
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• Bank of England 'stuck between rock and hard place' ahead of interest rate rise

  01-02-2023 12:19 via express.co.uk
  
  Economists and financial experts are sharing why the Bank of England is "stuck between a rock and a hard place" when it comes to interest rates.
  
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• Martin Lewis urges anyone with a phone contract to send two texts to cut bills

  01-02-2023 10:58 via express.co.uk
  
  Millions of people are overpaying on their phone contracts, according to Martin Lewis, but could save hundreds with just two texts.
  
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• Expert raves about 4.40% savings account as 'best you'll get this year'

  01-02-2023 09:38 via express.co.uk
  
  The Bank of England is expected to increase base rates for the tenth time in a row tomorrow but savers may not feel the benefit.
  
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• ‘Loved ones may lose everything’: One simple error can destroy your inheritance

  01-02-2023 08:30 via express.co.uk
  
  Everybody knows they should make a will setting out how they would like their wealth to be shared among loved ones when they die, but not everybody realises the chaos they will leave behind if they don't.
  
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• Premium Bonds winners for February 2023 announced: Who has won NS&I's £1million?

  01-02-2023 08:11 via express.co.uk
  
  National Savings and Investment has announced the winners of February 2023's jackpot prize.
  
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• Ofgem considers subsidy to level energy costs for prepayment and direct debit customers

  31-01-2023 17:13
  
  Regulator defends suppliers who have forced people on to metersOfgem is considering closing the gap between the cost of energy bills for customers on prepayment meters and those on direct debits – but has defended suppliers who have forced people on to the meters.Jonathan Brearley, the chief executive of Ofgem, told MPs the energy regulator was examining whether a subsidy could be introduced to create a level playing field. Continue reading...
  
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• Why is the UK economy doing worse than the rest of the G7?

  31-01-2023 17:07
  
  Factors behind IMF’s latest forecast which shows UK will be only large economy to contract this yearThe International Monetary Fund has warned that Britain is expected to be the only large industrialised country to face a shrinking economy this year.The Washington-based fund upgraded its forecast for most leading economies but said it expected the UK economy to contract by 0.6% this year – a level 0.9 percentage points worse than that which it had pencilled in just three months ago,
  
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• Gautam Adani falls out of world top 10 rich list as his companies’ shares slide

  31-01-2023 16:48
  
  Abu Dhabi fund’s $400m investment in Indian group fails to stop fall in value after fraud allegationsThe Indian billionaire Gautam Adani has fallen off the list of the world’s top 10 richest people as the value of shares in his companies continue to slide after an activist investor accused him of “pulling the largest con in corporate history”.Before the accusations published last week on Twitter, Adani, 60, was the world’s third-richest person with an estimated $119
  
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• ‘It can be scary’: how corporate America is hitting back against unions

  31-01-2023 15:46
  
  Employers are using heavy-handed tactics to prevent workers from organizing, and US labor union density is falling as a resultWorkers at a Trader Joe’s store in Louisville, Kentucky, are now pushing to become the third store at the trendy US supermarket chain to unionize since 2022.Connor Hovey, a worker and organizer at the Louisville store, said unionizing efforts began as other high-profile union organizing efforts such as at Louisville’s Heine Brothers, a local coffee shop chain,
  
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• Tesco buys Paperchase brand but not shops, with 800 jobs at risk

  31-01-2023 15:36
  
  Stationery retailer collapses into administration after rising costs and disappointing salesTesco has bought the brand and intellectual property of Paperchase, after the struggling stationery retailer collapsed into administration.
  However, the deal does not include Tesco taking on the brand’s 106 stores across the UK and Ireland, leaving the future uncertain for Paperchase’s 820 employees.The deal follows a difficult few months for Paperchase after rising costs and disappointing sal
  
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• Exxon posts record $56bn profit for 2022 in historic high for western oil industry

  31-01-2023 15:29
  
  Company took home about $6.3m an hour last year as oil majors expected to break their own annual records Exxon Mobil posted a $56bn profit for 2022, the company said on Tuesday, taking home about $6.3m an hour last year, and setting not only a company record but a historic high for the western oil industry.Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200bn. The scale has renewed criticism of the oil industry and
  
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• Poppy Marshall-Lawton: bringing Laura Ashley back into fashion

  31-01-2023 15:00
  
  Its UK and Europe head, kept on by US rescuers after the company collapsed in 2020, insists the brand is about much more than frilly floral flocks – though they’re still popular tooWhen Poppy Marshall-Lawton quit her degree to live by the beach in Bournemouth 20 years ago, she can hardly have imagined it would eventually lead to her heading the revival of a beloved British brand.The chirpy redhead, who has just turned 41, was the surprise name to take the reins at Laura Ashley under
  
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• UK cybersecurity firm Darktrace’s shares dive as short sellers circle

  31-01-2023 14:37
  
  Company co-founded by Mike Lynch hit by wave of criticism of its sales, marketing and accounting practicesThe value of Darktrace has plummeted to a record low after the emergence of two new short sellers betting against its business, as the British cybersecurity firm was hit by a new wave of criticism of its sales, marketing and accounting practices.The company, which earlier this month warned of slowing numbers of new customers signing up for its artificial intelligence-led security products, h
  
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• Infosys: firm founded by Rishi Sunak’s father-in-law in UK tax dispute

  31-01-2023 13:02
  
  HMRC and the Indian IT services firm disagree over corporation tax bill of about £20mInfosys, the company founded by Rishi Sunak’s father-in-law NR Narayana Murthy, is in a multimillion-pound dispute with the UK tax authorities.HMRC and the Indian IT services firm, in which the prime minister’s wife, Akshata Murty, holds a stake of close to 1%, disagree over a corporation tax bill of about £20m, according to the company’s annual report. The dispute, first revealed b
  
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