Category Archives: Money

‘Poisoned’ AI: the ChatGPT shopping scams that lead to fake websites

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Buyers are ripped off after assuming online stores were genuine because they are recommended by an AI tool

You want to buy a new bag and so you ask ChatGPT for help. You have always liked Russell & Bromley so you ask ChatGPT what is popular there at the moment.

The artificial intelligence (AI) assistant gives you cross body, shoulder, casual and formal options with the prices listed beside them. You click through from the sources to what looks like the official Russell & Bromley site and buy your new bag, which is conveniently on sale.

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UK house prices fall for third successive month amid Iran war uncertainty

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Unexpected monthly drop of 0.1% in May leaves price of typical home at £298,806, says lender Halifax

UK house prices fell unexpectedly in May as rising mortgage rates fuelled by the war in Iran affected affordability and homebuyer demand.

The average price of a typical UK home fell by 0.1% in May to £298,806 compared with April, the third consecutive monthly drop recorded by the lender Halifax. Analysts had been expecting a return to growth, with a consensus of a 0.1% rise forecast for May. The monthly drop followed falls of 0.1% in April and 0.5% in March.

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UK shoppers return to high street as warm weather brings respite from shadow of war

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British Retail Consortium figures show footfall rose in May, with consumer confidence improving after spending squeeze

Greater numbers of consumers went shopping last month as spring sunshine brought welcome relief to retailers, which have faced a squeeze on spending since the US-Israel war on Iran.

Figures from the British Retail Consortium (BRC) and a separate survey by the accountancy firm BDO showed a bounce-back in footfall during May, reversing a sharp decline in April.

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EU fines Temu for failing to stop sale of illegal and dangerous products

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European Commission finds shoppers on Chinese website very likely to find unsafe items and imposes €200m penalty

EU regulators have fined the Chinese shopping website Temu €200m (£173m) for failing to stop the sale of illegal and dangerous products.

The European Commission imposed the penalty after a 19-month investigation that found consumers were very likely to encounter illegal or unsafe products including baby toys and electronics on the firm’s website.

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Student loans inquiry responses show ‘massive scale of frustration and upset’

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More than 52,000 people respond to Commons committee’s call for evidence amid criticism of loan terms

Thousands of graduates have told an official inquiry their horror stories and bad experiences relating to student loans, underlining what the chair of an MPs’ committee called massive levels of “frustration and upset”.

Amid an ongoing row over the ballooning cost of degree course debts, more than 52,000 people responded to a call for evidence by the Commons Treasury select committee as part of its inquiry into student loans and the taxation of graduates.

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Nurseries in England charging extra fees to cover funding gap, campaigners say

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Head of Early Years Alliance says additional charges paid by parents represent ‘cross-subsidy’

Parents of nursery children in England are being charged extra fees to cover for government underfunding of free childcare hours, with some paying thousands of pounds a year for consumables such as food, wipes and nappies, campaigners have said.

The comments came as the education secretary, Bridget Phillipson, asked the competition watchdog to investigate hidden extra charges that parents have encountered when trying to access government-funded childcare.

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Bridget Phillipson orders review of hidden childcare charges hitting parents

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Education secretary asks UK watchdog to look into nursery practices, including non-refundable deposits and add-ons

Bridget Phillipson, the education secretary, is ordering a competition review of hidden childcare charges amid concerns parents are being hit with extra charges, despite the government’s flagship expansion of funded childcare hours.

Phillipson has written to the Competition and Markets Authority (CMA) asking it to examine practices including non-refundable deposits, compulsory add-ons and restrictions attached to government-funded childcare places.

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Spending watchdog warns £38bn cost of Sizewell C nuclear plant is ‘risky’

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National Audit Office says potential benefits are ‘considerable but uncertain’ while risks are ‘immediate and substantial’

The cost of the government’s £38bn nuclear plant in Suffolk is subject to “significant uncertainty” and may outweigh the benefits for UK households until at least 2064, according to the government’s spending watchdog.

The National Audit Office (NAO) has warned that although the potential benefits of the Sizewell C nuclear plant are considerable, they remain uncertain. The risks, however, are “immediate, substantial and borne by the public”.

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British Gas faces record £112m settlement over prepayment meter scandal

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Redress to customers for force-fitting devices in homes includes £20m penalty and £70m of debt write-offs

Thousands of British Gas customers who had prepayment meters force-fitted in their homes will between them receive compensation and energy bill debt write-offs worth up to £112m in the biggest energy supplier settlement on record.

Great Britain’s energy regulator found that British Gas forced PPMs on homes that were not keeping up with their bills at the height of the Russian gas crisis, in one of the most complex investigations in Ofgem’s history.

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Chinese court awards compensation to sacked worker replaced by AI

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Case attracts widespread attention as example of China balancing enthusiastic adoption of AI with job security

A court in China has ruled in favour of a worker whose company replaced him with artificial intelligence (AI), awarding him more than £28,000 in compensation.

The worker, whose surname is Zhou, joined a tech company in the eastern city of Hangzhou in 2022 as a quality assurance supervisor overseeing large language models used in AI products.

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Buyers of Liza Minnelli memoir claim it was not signed by hand

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Premium editions of Kids, Wait Till You Hear This! cost up to $250 but some say signatures are unnaturally identical

Liza Minnelli fans who bought signed copies of her memoir are seeking refunds because they believe her signature is fake.

Copies of Kids, Wait Till You Hear This! by the American 80-year-old singer were marketed around the world as “hand-signed collectibles”, with premium editions costing up to $250 (£185).

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Worried Britons ‘prepping’ for major disruption with stash of tins and cash, survey shows

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Fears over a natural disaster or cyber attack are pushing households into contingency planning, Link survey shows

Millions of Britons are “prepping” for a potential “major disruptive event” by keeping a stash of cash at home, stockpiling tinned goods or ensuring they have a battery-powered torch close to hand, new data suggests.

With war raging in the Middle East and Ukraine, extreme weather becoming more frequent, and warnings that the UK’s critical infrastructure is at risk from cyber-attacks and power outages, many people feel the world has become a more dangerous and chaotic place.

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Cut UK speed limits to reduce Iran war impact on consumers, thinktank urges

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Cap of 20mph in towns and cities and 60mph on motorways would cut fuel demand and combat rising prices, IPPR says

Britain should lower speed limits for drivers as part of a package of measures to reduce the impact of the Iran war on consumers, a thinktank has said.

Capping legal speeds at 20mph in towns and cities and 60mph on motorways would help reduce fuel demand and combat soaring oil prices triggered by conflict, according to the Institute for Public Policy Research (IPPR).

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New free financial advice plan aims to help Britons build savings

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‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensions

Many Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions.

Last month marked the launch of “targeted support”, a new regulated service that permits companies to suggest investments and pension products to customers that might provide a better return.

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Octopus Energy boss: some people would accept blackouts if bills cut

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Greg Jackson argues against costly investments in UK’s power grid that are adding to household bills

The boss of the UK’s biggest energy supplier has suggested that some households would accept an occasional electricity blackout in exchange for much lower energy bills.

A year on from Europe’s largest power outage – which left tens of millions of people in Spain and Portugal without trains, metros, traffic lights, ATMs, phone connections and internet access – the chief executive of Octopus Energy argued against costly investments in the UK’s power grid that are adding to household bills.

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Dozens of toys recalled in the UK after asbestos found in play sand

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Candle-making kits and rubber toys among products recalled after revelation about play sand sold by Hobbycraft

More than 30 children’s toys have been recalled in the UK after the Guardian revealed that play sand sold by Hobbycraft was contaminated with asbestos.

Over the past three months, other children’s products ranging from candle-making kits to stretchy rubber toys have been recalled by retailers including Tesco, Primark, Matalan and M&S after being found to contain the substance.

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Winners and judges out of pocket as £20,000 writing awards appear to have closed

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The Plaza Prizes offered 10 awards in 2025 but some judges say they were not paid, while a number of winners hit back over AI accusations

A competition for new writers that promised a £20,000 prize fund appears to have shut down, leaving winners and judges, including a Booker prize-winning novelist, out of pocket.

Established in 2022, the Plaza Prizes last year offered 10 awards that were judged by the “finest poets and writers in the world”.

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Record number of homes in Great Britain turn to green energy as fuel prices soar

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Iran war drives demand for solar panels, heat pumps and EVs, with energy bills expected to rise 18% from July

British households are turning to green home energy upgrades in record numbers to try to keep bills down as the Iran crisis sends global oil and gas prices soaring, data from leading energy suppliers suggests.

Figures show demand for solar panels, electric vehicles and heat pumps in Great Britain has leapt since the war began on 28 February, as households brace for a sharp increase in monthly payments when the next energy price cap takes effect in the summer.

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UK government caps student loan interest rates at 6% from September

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Minister says change for plan 2 and 3 loans in England and Wales will ‘protect borrowers’ from impact of global conflict

Millions of graduates will have the interest on their student loans capped at 6% from September as a temporary measure to protect them from the risk of rising inflation driven by war in the Middle East.

Ministers acted after months of criticism over the loans becoming a “debt trap” that often leave graduates in England and Wales paying tens of thousands more than the original loan amount.

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Ebike and e-scooter fires in UK rise to new record highs

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At least 432 ebike fires and 147 e-scooter fires recorded in 2025, up 38% and 20% respectively on previous year

Ebike and e-scooter fires in the UK reached a record high last year, an investigation has found, renewing concerns over the use of lithium batteries and unregulated marketplaces.

Fire brigade figures obtained by the Press Association show there were at least 432 ebike fires recorded across the UK in 2025, up 38% from 313 the previous year and more than five times higher than the 84 recorded in 2021.

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