Category Archives: Money

Rising inflation underlines scale of Andy Burnham’s cost of living challenge

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PM’s plan to shield households from more pressure risks being overwhelmed by wider price rises

July’s increase in inflation, to 2.9%, is likely to be the first of several, underlining the challenge facing Andy Burnham in shielding consumers from a fresh cost of living squeeze this autumn.

Rising energy bills, as an increase in Ofgem’s quarterly price cap came into force, were the main driver of the jump in inflation, from 2.6% in June. That was partly offset by cheaper fuel prices – the knock-on effect of hostilities easing in the Middle East, after Donald Trump hailed his “memorandum of understanding” with Iran in June.

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Burnham scraps restrictions on disabled people’s bus passes in England

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Move means holders will be able to travel free on local services at any time of day or night from April next year

Disabled people across England will be able to use their free bus passes at any time of day from next April, as Andy Burnham expands a policy he introduced as mayor of Greater Manchester.

The prime minister has said the current weekday restrictions on when disabled people can use their bus passes will be removed from 1 April 2027. Their passes are valid only between 9.30am and 11pm on weekdays, although some councils pay to allow people free travel outside those hours.

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Burnham scraps restrictions on disabled people’s bus passes in England

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Move means holders will be able to travel free on local services at any time of day or night from April next year

Disabled people across England will be able to use their free bus passes at any time of day from next April, as Andy Burnham expands a policy he introduced as mayor of Greater Manchester.

The prime minister has said the current weekday restrictions on when disabled people can use their bus passes will be removed from 1 April 2027. Their passes are valid only between 9.30am and 11pm on weekdays, although some councils pay to allow people free travel outside those hours.

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Asking prices for newly listed homes in UK’s richest borough fall by £100k in one month

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Fierce competition in some areas of London means landlord purchasers are making successful lowball offers

The average price of a home coming up for sale in Britain’s richest borough has dropped by almost £100,000 in a month as fierce competition among sellers in many areas prompts some to slash their price expectations, data shows.

The property website Rightmove said that for Britain as a whole, average newly listed asking prices for homes had fallen by 2% over the past month, the largest August price drop in eight years.

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Will Andy Burnham’s everyday fixes be enough to get the public on his side?

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The prime minister’s money-saving policies are popular but they are yet to convince voters he can take on the big things

It was last year that Martin Lewis, the money-saving guru, advised the government to find “100 small things that piss people off” and set about sorting them out.

That approach has been adopted almost immediately by Andy Burnham since entering office, as he began his programme of “everyday fixes” to tackle problems that can be dealt with through minor policy tweaks.

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Healey urged to be bold on borrowing in first test of Burnham’s growth pledge

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Some want the chancellor to exploit newly flexible fiscal rules – others want a more creative approach, such as borrowing from markets

With just 12 weeks to go until his first budget, new chancellor John Healey is seeking ways to ramp up public investment, without busting the Treasury’s fiscal rules – and some economists are urging him to be bold.

As he settles into No 11 Downing Street, the former defence secretary’s most immediate challenges concern day-to-day government spending.

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Healey urged to be bold on borrowing in first test of Burnham’s growth pledge

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Some want the chancellor to exploit newly flexible fiscal rules – others want a more creative approach, such as borrowing from markets

With just 12 weeks to go until his first budget, new chancellor John Healey is seeking ways to ramp up public investment, without busting the Treasury’s fiscal rules – and some economists are urging him to be bold.

As he settles into No 11 Downing Street, the former defence secretary’s most immediate challenges concern day-to-day government spending.

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Healey’s profiteering warning on food and fuel risks row with retailers

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Chancellor says the government wants to prevent shoppers being ‘taken for a ride’ at the pump or till

The chancellor, John Healey, has said the government is standing by to prevent the public from “being taken for a ride at the pump or the till” as the Iran war continues to hit prices.

While he said there had been “no significant evidence of so-called price gouging” during the crisis, he used a weekend column to tell the big retailers that ministers were “watching closely” for any signs of profiteering.

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Capital One says it closed Trump Organization’s accounts after anti-money-laundering review

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Disclosure from 2021 investigation marks first time a bank has formally tied money-laundering concerns to Donald Trump

Capital One Financial hit back on Friday against a lawsuit over its ⁠decision to close the Trump ⁠Organization’s bank accounts ​years ago, stating that it did so after a review by anti-money-laundering experts.

The disclosure marks the first time a bank has formally tied money-laundering concerns to Donald Trump’s family business. Capital One is seeking to dismiss the case by casting doubt on claims of illegally debanking – or denying services on religious or political grounds – the Trump Organization.

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‘Customers prefer AI chatbots,’ says British Gas owner as 1,300 call centre jobs axed

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CEO Chris O’Shea defends Centrica’s plans as it reports rise in retail profits following focus on bigger margins

The owner of British Gas has claimed that most households would rather speak with an AI chatbot than deal with the company’s staff as it prepares to cut 1,300 jobs from its call centres.

Centrica, the supplier’s FTSE 100 owner, plans to cut 800 jobs as the company carries out a “targeted deployment of AI tools”, on top of the 500 cuts it confirmed last month.

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Pay gap widens as UK bosses get 130 times average worker’s salary

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In its final report the High Pay Centre says the median remuneration of a FTSE 100 CEO has risen to a record £5.06m

The bosses of Britain’s largest listed companies received record pay last year, fuelling the widest earnings gap with workers in eight years.

Median pay for FTSE 100 chief executives hit £5.06m in the last financial year, according to data released by the High Pay Centre, an 8.6% increase on £4.66m the previous year and the highest level on record.

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Which? finds 150 potentially lethal baby products sold online

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UK consumer group says lives are at risk because platforms fail to prevent dangerous items reaching customers

Babies are being put at risk by dozens of potentially lethal infant products sold to UK parents on major online marketplaces, an investigation has found.

The consumer champion Which? identified 150 products, including self-feeding prop feeders that pose a choking risk and baby sleep pillows linked to suffocation.

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Mobile internet coverage in UK worse than any EU or G7 country, Which? says

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Analysis finds services cheaper but country ranks 57th in network performance and 70th for download speeds

British holidaymakers watching online videos while they sit on a European beach this summer are likely to be pleasantly surprised: the signal should be better than at home.

Mobile coverage in the UK is worse than in any of the 27 EU member countries, and every other member of the G7 group of large economies, according to analysis by consumer group Which? of data from Opensignal.

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London has lost ‘catastrophic’ 89% of car club vehicles since Zipcar exit

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Only 330 car club vehicles available for rent after big provider left British market, data reveals

The number of car club vehicles in London has fallen by a “catastrophic” 89% since Zipcar ended its service in late 2025, with former users being pushed to consider buying or leasing.

Car clubs allow drivers to use vehicles parked around a city, using apps to book and unlock them. Zipcar dominated London’s car club market before the US company’s shock decision to pull out in December 2025. That left a gap that has yet to be filled for Londoners without a car.

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Now we know how much tax King Charles pays, and it is very little

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The monarch’s declaration does not tell us much, except that his bill is lower than for people with much smaller fortunes

The veil of secrecy that surrounds the royal finances was nudged aside a little on Thursday to allow the release of a new piece of information. We learned for the first time how much the king’s annual tax bill comes to.

This was not a full tax return. It was a two-sentence declaration, stating his tax payable amounted to £12.9m in 2024-25, and a slightly smaller sum the year before. His total tax payable since accession comes to £30m.

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How doing a wash while you watch the World Cup at 2am could cut energy bills

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Change in viewing habits offered by match times at 2026 tournament could mean using cheaper off-peak power

Watching late-night or early hours football could provide UK households with a practical opportunity to cut their energy bills, as even just doing the washing when cheaper electricity rates apply can net a decent saving.

At a time when energy costs are back at worrying highs, research by E.ON Next shows the potential to save money on a time-of-use tariff – in this case, its Next Smart Saver deal, which has three rates: peak, off-peak and super off-peak.

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Millions of homes in London, Essex and Kent at risk of sinking as climate crisis worsens

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Analysis pinpoints areas most vulnerable to hotter, drier weather causing ground to shrink and drag foundations down

Millions of homes are at risk from climate-related subsidence, according toan analysis by the British Geological Survey (BGS).

As hotter, drier summers driven by global heating become more frequent, the ground under houses can shrink and drag down a property’s foundations. The most vulnerable areas include London, Essex, Kent and a tranche of land from Oxford up to the Wash on England’s east coast, according to scientists, who say mitigation measures will be needed.

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‘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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