Money

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Cost of Living: DWP benefit could give London pensioners with medical conditions an extra £369 each month

3.4 million eligible UK residents aren't claiming the benefit

2022-09-25T15:47:23Z

Vodafone mulls £12bn phone mast sale to drive down debt

Vodafone is looking to sell off its phone mast division, just days after French telcos giant Xavier Niel snapped up a stake in the firm. According to reports from This is Money, the £12bn sale could clear the company’s £36m debt, and ignite investor confidence in the beleaguered stock, which has tumbled nearly 14 per [...] The post Vodafone mulls £12bn phone mast sale to drive down debt appeared first on CityAM.

2022-09-25T11:33:00Z

Premium Bonds prizes explained - how you could win up to £1million from NS&I

NS&I Premium Bond savers are afforded the chance to win up to £1million a month through a prize draw.

2022-09-25T11:15:35Z

Lloyds Bank issues warning about fake British Gas emails - ‘This is a scam!'

Lloyds Bank is issuing an important energy bill scam warning as fraudsters are posing as British Gas in emails.

2022-09-25T22:15:51Z

Bank closures ‘increase demand for cash deposit services at Post Offices’

Bank closures ‘increase demand for cash deposit services at Post Offices’ - The research also found bank closures did not result in people switching to digital payments and banking services.

2022-09-25T23:29:42Z

Winter Fuel Payment: Millions to receive cash boost up to £600 - are you eligible?

Millions of older Britons will be receiving further financial support over the next few months, which could aid with living costs as prices increase and temperatures drop.

2022-09-25T15:15:39Z

Want to change career? 5 things you need to bear in mind

Thinking of a career change? Keep these five tips in mind next time you’re exploring your options.

2022-09-25T11:03:24Z

Households' savings have HALVED since the start of the year due to cost-of-living crisis

The cost of food, energy and mortgage repayments have risen £145.50 for the average UK household so far this year, according to research from accounting firm KMPG.

2022-09-26T02:05:13Z

Mini-budget: 'What an anti-climax!' Housing experts uninspired by Kwarteng's speech

Experts have criticised Kwasi Kwarteng's mini-budget for failing to live up to his promises to nurture a "new approach for a new era".

2022-09-25T17:00:49Z

Dow Futures Trade Flat After Indices Finish at 3-Month Lows

By Oliver Gray Investing.com - U.S. stock futures remained little changed during Sunday’s evening deals, after major benchmark averages finished the previous week at 3-month lows as surging interest rates and slowing global growth soured risk...

2022-09-25T23:42:32Z

George Osborne calls on government to fix ‘schizophrenic’ levels of borrowing

Liz Truss must end the “schizophrenic” economic policy of slashing taxes and increasing government borrowing, according to former chancellor George Osborne. Osborne said he was pleased to see Truss acting like a “conviction politician”, but said the government must make spending cuts if it wants to also lower taxes. Chancellor Kwasi Kwarteng unveiled the largest [...] The post George Osborne calls on government to fix ‘schizophrenic’ levels of...

2022-09-25T17:03:24Z

Investors to examine retailers’ books for signs of spending slump

Investors will be parsing over a slew of results from top retailers for signs of a slowdown in consumer spending in response to an economic slump. London’s premier FTSE 100 index notched a poor performance last week, shedding 3.62 per cent to close at 7,018.60 points, mainly driven by a sharp sell off on Friday [...] The post Investors to examine retailers’ books for signs of spending slump appeared first on CityAM.

2022-09-25T11:33:03Z

Unpaid carers could lose almost £70 a week if they fail to report certain changes to DWP

Unpaid carers in the UK could face losing almost £70 in benefit payments if they fail to report certain life changes to the Government.

2022-09-25T15:15:42Z

Pound falls to record low against the US dollar

It comes days after Chancellor Kwasi Kwarteng unveiled historic tax cuts aimed at boosting the economy.

2022-09-26T03:04:58Z

Gold Pinned Below $1,650, Copper Extends Losses on Recession Fears

By Ambar Warrick Investing.com-- Gold and copper prices retreated further on Monday as the dollar notched a new 20-year high amid growing fears of rising interest rates and a potential economic recession. Metal markets plummeted last week after the...

2022-09-26T00:41:57Z

Energy bill warning: Suppliers may send debt collectors to households which refuse to pay

Households are being warned of the financial risks that come with not paying their energy bills which many are reportedly planning to do next month.

2022-09-25T19:16:31Z

NatWest’s male bankers to get a year off for fatherhood

NatWest has told its male bankers that they can take a full year off when they become a father, as it races to reinvent itself as more family friendly. The bank will next year introduce a policy that allows all new parents to take up to a year off regardless of their gender, of which half will be fully paid. Equal paid parental leave is increasingl...

2022-09-25T16:01:09Z

Taking aim at government, UK's Labour unveils national wealth fund plan

By Elizabeth Piper and Andrew MacAskill LIVERPOOL, England (Reuters) - Britain's Labour Party will unveil on Monday its plans to set up a national wealth fund to invest in green projects which will benefit the public, part of the opposition party's answer to the Conservative government's tax-cutting approach. At their annual conference, Labour la...

2022-09-25T21:35:47Z

Go North East seeking 100 new bus drivers after increasing pay rates

Go North East bus drivers on a guaranteed 39 hour week can earn £22,308 in the first year and £26,019 after year one

2022-09-26T05:12:18Z

Top 5 Things to Watch in Markets in the Week Ahead

By Noreen Burke Investing.com -- After a week that saw financial markets rocked as central banks and governments ramped up their fight against inflation, investors will be bracing themselves for fresh volatility in the week ahead. Several Federal...

2022-09-25T10:41:42Z

Got paper banknotes under the mattress? The deadline to use them is here

Post Offices are bracing for a rush in customers depositing paper banknotes this week before they cease to be legal tender. Paper £20 and £50 notes will no longer be able to be used for payments from Friday, September 30, completing the transition to polymer banknotes. Old notes can be exchanged at select Post Offices for newer polymer versions. Ma...

2022-09-26T05:01:59Z

UCU strikes: College lecturers begin 10-day walk-out in push for inflation-matching pay rise

UCU is demanding employers come forward with a pay offer that reflects the rate of inflation, which currently stands at around 10 per cent

2022-09-26T05:35:22Z

Pandemic savings evaporate as cost-of-living crisis intensifies

The cost-of-living crisis is whittling away pandemic savings, with monthly spending on essentials costing £145 more on average since the beginning of the year. The spiralling cost of living is forcing three in ten Britons to rely on savings only to afford basic necessities like shelter, food and fuel, according to research by KPMG. Another one in t...

2022-09-26T05:02:00Z

50 financial tips that will do wonders for your wallet

The secret to making money, as opposed to frittering it away, is often small adjustments to our financial habits and mindset. Whether it’s setting ourselves a realistic budget, cutting out morning coffee purchases or investing in our future, the key to success is finding the courage and discipline to stay true to our better intentions. In that spirit, here are 50 financial tips that we hope will help fatten your wallet.

2022-09-26T00:14:24Z

Pound falls to all-time low as Kwasi Kwarteng hints further tax cuts on way

Pound falls to all-time low as Kwasi Kwarteng hints further tax cuts on way - The Chancellor has previously brushed off questions about the markets’ reaction to his mini-budget.

2022-09-26T04:30:21Z

Japan Business Activity Grows Slightly in Sept, Outlook Dim- PMI

By Ambar Warrick Investing.com-- Japanese business activity expanded slightly in September, preliminary data showed on Monday, although high inflation and a weakening yen continued to paint a bleak picture for the remainder of the year. The...

2022-09-26T01:41:50Z

For Western energy giants, escaping Russia has become the longest goodbye

Bernard Looney, the boss of BP, was summoned by Whitehall within a day of Russia invading Ukraine. The FTSE 100 company’s relationship with Russia had survived the annexation of Crimea in 2014 as well as the poisoning of the Skripals on British soil in 2018. But with Russia launching the largest armed conflict in Europe since the Second World War, ...

2022-09-25T09:06:02Z

Scottish workers to pay more income tax than the rest of the UK after mini-Budget

Scottish workers earning more than £14,732 are to pay more income tax than in the rest of the UK as the gap between families north of the border grows starker. The changes to income tax announced at the mini-Budget do not apply to devolved nations Scotland or Wales, and so Scots cannot benefit from the cut to the basic rate, which has been brought ...

2022-09-25T11:05:36Z

Ed Sheeran backs scheme to secure future of grassroots music venues

Ed Sheeran backs scheme to secure future of grassroots music venues - Own Our Venues was launched by the charity Music Venue Trust in June as part of a ‘radical’ move to help the sector.

2022-09-25T23:13:31Z

Prince Harry, Meghan Markle and other royals who actually work for a living

From writing books to flying planes, the jobs working royals do around the world.

2022-09-25T10:32:02Z

Letters: As the cost of living spirals, voters won’t look kindly on the mini-Budget

SIR – Liz Truss and her Chancellor, Kwasi Kwarteng, have delivered a mini-Budget that could destroy the Conservative Party. A Budget where a worker earning £20,000 gains £167 while a worker earning £200,000 gains £5,220 cannot be one to help those struggling with the cost of living. Or has the rise in the cost of champagne and caviar outstripped th...

2022-09-25T23:07:00Z

Labour unveils state-backed fund to give Brits a stake in green investments

In a swipe at the Tories, Shadow Chancellor Rachel Reeves is expected to tell Labour conference that the policy is a 'real plan for growth' and a 'real plan for levelling up'

2022-09-25T21:37:08Z

Ericsson pushes back against Russian equipment exports

ERICSSON pushed back against reports that it had continued to export equipment to Russia even after war had erupted in Ukraine. In a statement released over the weekend, the Swedish telecom equipment maker said the initial coverage from media outlet Swedish Radio was “factually incorrect” and disputed claims that it was granted a series of [...] The post Ericsson pushes back against Russian equipment exports appeared first on CityAM.

2022-09-25T15:03:32Z

Dollar delivers boost to City bankers working for Wall Street firms

It means that their payouts in the US currency at the end of the financial year will be higher when translated into sterling.

2022-09-25T21:31:39Z

Forget trickle down, what the UK needs is middle-out economics

As millions of British families struggle to pay the costs of food, fuel and rent, Liz Truss and her chancellor, Kwasi Kwarteng, have unveiled their economic plan: cut taxes for corporations and rich people. The policies announced in the mini-budget – reversing planned rises in corporation tax and national insurance, cutting stamp duty, scrapping the top income tax rate – will put millions of pounds into the pockets of the wealthiest people, not...

2022-09-25T09:14:23Z

Second steppers hunting for larger homes drive asking prices higher - and stamp duty cuts could trigger further demand, says Rightmove

The average asking price for a UK home rose by 0.7% this month to £367,760, reversing a 1.3% fall witnessed in August, according to Rightmove.

2022-09-25T23:32:25Z

Pound to sink below dollar after UK’s mini-Budget, US experts predict, as analysts warn of ‘currency crisis’

UK holidaymakers headed to Florida or Las Vegas may be in for a shock, and American economists are struggling to understand Kwasi Kwarteng's decisions

2022-09-25T12:34:57Z

Inflation forces one in three Brits to trade down to cheaper products

Brits are trading down to cheaper products in response to rampant inflation squeezing their finances, a survey published today shows. A third of consumers are buying more own brand products, while one in four are turning to cheaper retailers in a bid to cap their weekly shop, according to consultancy KPMG. The research illustrates the [...] The post Inflation forces one in three Brits to trade down to cheaper products appeared first on CityAM.

2022-09-26T05:03:22Z

Tumbling gas prices on track to slash £60bn cost of energy bailout

Britain's energy bills freeze could prove much less costly than feared by early next year, as City forecasters predict that gas prices will plunge this winter following a successful scramble across Europe to fill reserves. A halving in gas prices in the coming months would push average household bills below the £2,500 limit set by the Government’s ...

2022-09-25T15:20:54Z

Savers warned it's 'imperative' to act now - have you reviewed your account recently?

The Bank of England raised its interest rates to 2.25 percent as of September, its sixth rise of the year.

2022-09-25T14:45:52Z

Post Office prepares for deluge of customers handing over old-style notes as deadline looms

After Friday, only polymer Bank of England banknotes which feature artist JMW Turner and Bletchley Park codebreaker Alan Turing on them will be accepted.

2022-09-26T01:19:54Z

Millions of public sector workers face a two-year pay squeeze before the general election

Chancellor Kwasi Kwarteng scrapped the top 45p rate of tax and cut 1p from the basic rate in the biggest package of tax cuts by a British Government for half a century.

2022-09-26T01:35:00Z

Post Office expects rush of customers depositing paper £20 and £50 banknotes

Post Office expects rush of customers depositing paper £20 and £50 banknotes - September 30 is the last day that the Bank’s paper £20 and £50 banknotes will have legal tender status.

2022-09-25T23:29:38Z

British Pound at Record Low, Euro Plummets as Economic Outlook Dims

By Ambar Warrick Investing.com-- The British pound hit a record low on Monday, while the euro fell to a 22-year trough as growing concerns over worsening economic conditions in Europe saw the dollar flush with safe-haven trades. The pound fell as...

2022-09-26T04:41:52Z

Energy & Precious Metals - Weekly Review and Outlook

By Barani Krishnan Investing.com - Oil bears have a ‘love-hate relationship’ with Abdulaziz bin Salman. They love to taunt the Saudi Energy Minister and he loves to hate them. Crude’s short-sellers, of course, find nothing personal in what they do;...

2022-09-25T10:12:23Z

Iceland boss tells of 'struggling' customers leaving items at the till as they can't afford them

The supermarket director added that cases of shoplifting are on the rise amid the cost of living crisis

2022-09-25T12:57:08Z

Kwasi Kwarteng doesn't comment on 'market movements' as chancellor, apparently

In yet another instance of Tory ministers not understanding their full brief, Kwasi Kwarteng has claimed the chancellor of the Exchequer “does not comment on market movements” – despite previous MPs in the role managing to do that just fine. The bizarre remarks were made on the BBC political programme Sunday with Laura Kuenssberg, just days after t...

2022-09-25T16:00:26Z

Nike... and other brand names you've mispronounced your whole life

We see the names of brands such as Nutella, Nike, Hyundai and Krispy Kreme every day but people often don't pronounce them correctly.

2022-09-25T23:33:50Z

Japanese Yen Nears Pre-Intervention Lows as USD Strength Weighs

By Ambar Warrick Investing.com-- The Japanese yen fell on Monday, coming close to 24-year lows seen last week as growing concerns over slowing economic growth and a strong dollar largely offset the government’s intervention in currency markets. The...

2022-09-26T03:56:54Z

Oil Prices Hover Near 8-Mth Low as Recession Fears Dent Outlook

By Ambar Warrick Investing.com-- Oil prices held near eight-month lows on Monday after falling sharply last week, as markets feared that slowing global economic activity will dent demand for crude. London-traded Brent oil futures rose 0.3% to...

2022-09-26T02:26:50Z