Category Archives: Money

UK employers ‘risk losing good people’ without policies on infertility, say managers

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Survey by Chartered Management Institute finds only 19% of companies have a policy in place

Employers should have formal policies in place to help workers who are undergoing fertility treatment, the Chartered Management Institute (CMI) has said, warning that businesses are increasingly losing talented people by failing to support them.

With NHS data showing that one in every seven couples have difficulty conceiving, the professional body urged companies to be understanding and supportive, and offer flexible work hours and paid time off to accommodate medical appointments, as well as paid compassionate leave when necessary.

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Number of UK retailers on brink of collapse soars by 25%

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Report for final three months of year shows pressure driven by rising costs and weak consumer confidence

The number of UK retailers on the brink of collapse soared by a quarter in the final three months of the year, driven by a combination of rising business costs and weak consumer confidence, according to a report.

The proportion of retail businesses classed as being in “critical” financial distress jumped 25% to 2,124 in the fourth quarter compared with the third, the insolvency specialists Begbies Traynor said.

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Cancer patient fears dying without justice as tribunal date repeatedly delayed

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IT technician Joe Mezgebe arrived at unfair dismissal hearing to find no judge available – for the second time

A disabled man with prostate cancer has had his employment tribunal for unfair dismissal postponed the day before it was due to take place because a judge was not available – 13 months after exactly the same thing happened.

Joe Mezgebe, an IT technician, who first presented his claim against Christ’s College, Finchley academy in June 2021, has lost £15,300 in fees to his barrister as a result of the cancellations, and fears he may not live to see justice done.

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US business leaders set to break record on donations to Trump inaugural fund

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Donations, not restricted by campaign finance laws, come as industries seek favor with incoming administration

US business leaders are spending big on Donald Trump’s second inaugural fund, which is predicted to exceed even the record-setting $107m raised in 2017.

The donations, which are not restricted by campaign finance laws, come as industries and business leaders seek to curry favor with the incoming administration after the president-elect decisively won a second, non-consecutive term in November.

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UK house prices rise at fastest rate in nearly two years

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Nationwide reports surprise growth despite near-record prices straining affordability

House prices in the UK grew at the fastest rate in nearly two years in November, in a surprise acceleration despite near-record highs straining affordability, according to figures from Nationwide.

The annual growth rate rebounded to 3.7% in November, up from 2.4% in October, according to the UK’s biggest building society. That was the fastest rate since November 2022.

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Retailers warn inflation could hamper UK shoppers in run-up to Christmas

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British Retail Consortium figures come alongside data showing a fall in household disposable income

Shoppers’ ability to afford Christmas treats has been put under threat as retailers warned November could mark a turning point for inflation, with the recent fall in prices slowing amid increased fresh produce costs and fewer discounts on the shelves.

Shop prices fell by 0.6% in November, compared with a fall of 0.8% in October, according to the latest report from the British Retail Consortium (BRC) and research firm NielsenIQ. The slowdown in deflation was driven by non-food goods and a slight increase in fresh food prices, including seafood.

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Energy bills, mortgages, food: will cost of living surge again under Labour?

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The government claims to be fixing the economy but households may face more pressure in the months ahead

Labour swept to power in the wake of a cost of living crisis that hit households hard, with the price of food and energy rocketing alongside the impact of Liz Truss’s disastrous mini-budget on mortgage rates.

At 2.3%, inflation is nowhere the 10% peak after Russia’s invasion of Ukraine, but it is creeping up, and could hit 3% in 2025, say forecasters.

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UK bank fraud victims could face £100 excess on refund claims

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Despite new rules, many lenders have decided to implement the optional exemption

Some victims of bank transfer scams will not get a penny back despite beefed-up rules designed to better protect consumers from fraudsters, because several big banks have introduced an excess on refund claims.

New rules requiring banks and other payment companies to reimburse fraud victims who have been tricked into sending money to scammers took effect last month, and included an optional £100 excess that firms can apply to a claim.

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E.ON must pay £14.5m to prepayment customers after billing failures

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Ofgem says nearly 250,000 people will each receive average of £144 in compensation and refunds

The energy regulator has ordered power supplier E.ON Next to pay £14.5m in compensation to nearly 250,000 prepayment customers, after an investigation found “unacceptable” failures to pay credit they had on accounts or final bill payments they were owed.

Ofgem found that the customers were affected over an 18-month period from early 2021 to late last year by an error in E.ON Next’s billing system. About 100,000 of the affected accounts were also in credit.

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Keir Starmer denies budget to blame for rise in mortgage rates

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PM says budget stabilised the economy, while mortgage rates are ‘individual decisions for the banks’

Keir Starmer has conceded he was disappointed in the UK growth figures last week, but denied that his government’s budget was responsible for a recent rise in mortgage rates.

The prime minister told journalists travelling to the G20 summit in Rio: “What we have done with the budget is to stabilise the economy and that, in my view, was the essential first step.

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Britons warned to expect ‘disappointing’ rise in energy bills in January

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Price cap for Great Britain forecast to rise to £1,736 a year for average dual-fuel bill, according to Cornwall Insights

Britons have been warned to expect a “disappointing” rise in energy bills in January, adding pressure to household finances, despite earlier hopes that prices may ease early next year.

The price cap for Great Britain is forecast to rise to £1,736 a year for the average dual-fuel bill, according to Cornwall Insights, a well-respected energy consultancy. This is a rise of 1% from the current price cap, which increased last month to £1,717 a year for a typical consumer.

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Average asking price for UK home drops by £5,000 in November

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Analysts say market is still relatively busy despite decline of 1.4%, which is unusually high for this time of year

The average asking price for a UK home has dropped by more than £5,000 this month as the autumn budget caused housing market jitters before the usual Christmas slowdown.

Average asking prices from new sellers fell by £5,366, or 1.4%, in November to £366,592, compared with the 0.8% decline usually recorded at this time of year, according to the website Rightmove.

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Floods, explosions and asbestos: Thames Water faces potential problems on all fronts

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Exclusive: Senior managers say they are forced to press ahead with orders for vital items without approval

When Sarah Bentley and Sarah Albon met at Beckton sewage treatment works in east London, the choice of location was designed to underline Thames Water’s predicament.

The site is Europe’s largest sewage treatment operation, with Grade II-listed parts of the site dating to the 1860s. It is now connected with the new Thames Tideway super-sewer, but insiders say several parts of the site are simply crumbling. The site is also riddled with asbestos.

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Thames Water supply ‘on knife-edge’ with £23bn repairs needed

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Exclusive: Company has failed to tackle serious safety concerns or upgrade vital IT systems, Guardian investigation reveals

Thames Water has £23bn of assets that are in urgent need of repair and the supply of water to its 16 million customers is “on a knife-edge”, a Guardian investigation can reveal.

Britain’s biggest water company has failed to tackle adequately serious safety concerns, has not upgraded essential IT systems and has tolerated a culture of intimidation among staff, according to insiders and an analysis of documents.

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More than 5,000 investors now suing Hargreaves Lansdown

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Claims management company expects claims over collapsed Neil Woodford fund to exceed £200m

More than 5,000 people who invested in Neil Woodford’s collapsed equity fund are suing Hargreaves Lansdown, claiming that the investment platform was still promoting the fund even when it was aware of its problems.

The number of people suing Hargreaves Lansdown, the UK’s largest investment site, has almost doubled in the past two years, according to the claims management firm RGL Management. Two years ago the number of people taking part stood at 2,750.

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Houses in national parks in England and Wales sell for 25% more, study finds

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Nationwide says New Forest is most expensive national park with an average property price of £576,000

Buying a home in a national park comes at a 25% price premium, with the New Forest the most expensive of the 13 parks in England and Wales, according to Britain’s biggest building society.

Nationwide said properties in a national park enjoy a valuation almost £67,000 more than a similar property elsewhere, based on the average UK house price of £266,640.

New Forest – £576,000

South Downs – £400,000

Peak District – £375,000

Yorkshire Dales – £353,000

Lake District – £333,000

Dartmoor – £310,000

Bannau Brycheiniog (Brecon Beacons) – £274,000

Eryri (Snowdonia) – £173,000

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New York City ends broker fees for new tenants in cost-cutting move

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Move can significantly lower upfront expenses for renters in city with one of the world’s highest costs of living

The New York City council passed a bill on Wednesday that will prevent tenants from having to pay fees to brokers hired by landlords.

The move can significantly lower upfront expenses for renters in a city with one of the highest costs of living in the world. The median asking rent in New York City was $3,500 in 2023.

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UK disability charities say NICs rise will cause ‘life-changing’ cuts

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Groups providing vital services say impact of tax and minimum wage rises will lead to cutbacks

Charities have warned of “life-changing consequences” for a million vulnerable children and adults as a result of cuts to state-funded disability services driven by tax changes and wage rises announced in the budget.

The Voluntary Organisations Disability Group (VODG), which represents 100 charities in England, said Rachel Reeves’s decision to raise employers’ national insurance contributions (NICs) had been “ill thought through” and would put many local charity services at risk.

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Leading UK estate agent cuts its longer-term house price growth forecast

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Hamptons says ‘modest’ rises can be expected amid ‘dampening effect’ of higher interest rates overall

Expectations that UK interest rates may stay higher for longer, as well as revenue-raising measures in the budget, have prompted a leading estate agent to cut its forecast for house price growth over the longer term.

The revised forecast from Hamptons came days after Halifax and Nationwide banks said the annual rate of property price growth had slowed, with the former saying it was likely to be “modest … for the rest of this year and into next”.

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Finnish fathers taking nearly double length of paternity leave since 2022 reform

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Dads say rule change granting both parents equal time off has helped build bond between children and fathers

Paternity leaves in Finland have nearly doubled in length after a 2022 reform of the parental leave system, the social benefits agency has said.

The change granted both parents equal amounts of leave for the first time: 160 days each of paid leave, to be used before the child turns two. Sixty-three of the days can be transferred to the other parent, if desired.

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