Global oil prices tumble after reports that Opec+ is ready to raise output despite weaker demand for fossil fuels
Global oil prices have tumbled by more than $1 a barrel in a sign that pressure on households at the petrol pumps could ease further.
The price of Brent crude fell to $63.86 a barrel on Thursday following reports that the Opec oil cartel and its allies may increase their production for July, despite weaker global demand for fossil fuels.
Continue reading...Campaigners say secretive ownership structures are becoming the ‘go-to vehicle for kleptocrats’
The owners of nearly a quarter of a million properties in England and Wales worth a combined £64bn are hidden behind opaque trusts, according to research that prompts concern that such structures are the “go-to vehicle for kleptocrats” stashing money in Britain.
The government introduced a register of property held through offshore vehicles in August 2022, revealing a string of unknown owners, including high-profile figures such as Lewis Hamilton and James Dyson, as well as sanctioned Russians, Gulf royals and the Chinese state.
Continue reading...T&Cs show limitations to the promises of 12 free seat reservations, insurance and monthly access to a sale
Ryanair has become the latest low-cost airline to offer a yearly membership scheme that promises benefits such as free reserved seats and cheap flights – but the consumer group Which? says you should look at the small print before you join.
The low-cost carrier’s Prime membership costs £79 a person a year and promises 12 free seat reservations, travel insurance, and monthly access to a sale. However, the terms and conditions show a number of limitations.
Continue reading...The Bank of England has voted to cut the cost of borrowing, reducing the base rate to 4.25%. Here’s what it means for you
The Bank of England has cut interest rates from 4.5% to 4.25%.
It follows two interest rate cuts in the second half of last year, and another one in February this year.
Continue reading...Growing numbers of older people are creating enterprises in everything from baking to biodiversity – but does the freedom make up for the graft?
Kari Johnston felt ready to retire after 45 years in nursing when, at 63 years old, she decided to launch her own business – a professional decluttering and organising service.
She had read about decluttering and, fascinated, quickly created a website and advertised. Her first clients were friends. Three-and-a-half years later, Johnston, from St Monans in Fife, is now fully retired from nursing, and feels delighted with the success of her new venture.
Continue reading...Ed Miliband’s looming decision on electricity market changes could mean regional bill disparities for households
Britain’s most senior government ministers could soon be drawn into a deepening row over plans to charge some households higher electricity bills than others, as Ed Miliband prepares to decide on sweeping energy reforms.
The energy secretary is understood to be close to making a decision on whether to move ahead with proposals to replace the country’s single electricity market with several market zones.
Continue reading...More than 40% of pesticides discovered in dust linked to toxic effects including cancer and hormone disruption
Almost 200 pesticides have been found by a study examining dust in homes around Europe, as scientists say regulators need to take “toxic cocktails” of chemicals into account when banning or restricting the use of pesticides.
Scientists say their research supports the idea that regulators should assess the risks posed by pesticides when they react with other chemicals, as well as individually. They say this should apply to substances already in use, as well as those yet to be approved.
Continue reading...AA says ‘cash-guzzling’ councils are adding clean-air levies to parking tariffs and resident parking permits
Drivers are being caught out by hefty price rises to park their cars, as councils across England impose parking surcharges on petrol and diesel vehicles.
An estimated one in five councils now add clean-air levies to parking tariffs and resident parking permits to deter polluting vehicles.
Continue reading...Three claimants allege Mumbai-based consultancy firm discriminated against them during restructuring
A UK division of the Indian conglomerate Tata “deliberately orchestrated” a redundancy programme in a way that unfairly targeted older, non-Indian nationals, an employment tribunal has heard.
Three claimants allege the Mumbai-based Tata Consultancy Services (TCS), which is valued at almost £110bn on the BSE stock exchange in Mumbai, discriminated against them on grounds of age and nationality during a restructuring that began in mid-2023.
Continue reading...Lead signatory of letter to Church Times says it is ‘moral and Christian imperative’ to ensure dignified retirement
Church of England vicars are demanding an increase in pensions amid claims that many face an impoverished old age, with some forced to rely on food banks or move in with adult children.
Almost 2,000 C of E clergy have joined an action group on Facebook in the past few weeks and 700 signed a letter to the Church Times calling for “urgent and decisive action”.
Continue reading...Carmaker reportedly has yet to announce plan for repairs after telling motorists not to charge their cars
Thousands of drivers have reportedly been left in limbo after warnings that their car could catch fire due to a battery defect.
Ford issued an urgent recall of its Kuga plug-in hybrid car in early March, warning drivers not to charge the battery because of a risk it might short-circuit while on the road. The problem could cause a loss of power or a fire, according to the recall notice. Four weeks later, the manufacturer has yet to announce a timescale for repairs and owners report that it is failing to respond to their requests for an update.
Continue reading...Residents took firms owned by billionaire to tribunal for operating unlicensed houses in multiple occupation
Tenants of two buildings in east London have been awarded a six-figure sum in rent repayments by a tribunal after challenging a billionaire described by a judge as a “rogue landlord”.
The group of current and former residents of Olympic House and Simpson House in Hackney took companies owned by John Christodoulou to tribunal for operating unlicensed houses in multiple occupation (HMOs), which meant the buildings were not subject to the safety and quality standards required by law.
Continue reading...Campaigners say scammers are claiming millions from victims in ‘a penalty-free crime’
Anti-scam campaign groups are calling for police forces to be much tougher on fraudsters, who they claim are scamming millions from victims in “a penalty-free crime”.
The pleas are being made just days after the UK government announced it is working on an “expanded” fraud strategy as part of a “robust response” to surging reported fraud rates, which rose by 19% last year according to the Office for National Statistics.
Continue reading...Elliott Ingram was stunned at how a thief made off with his Ioniq 5 deploying a device to mimic the smart key – and says he should have been warned
The motor manufacturer Hyundai faces legal action over allegations it failed to warn its customers that one of its most popular models of electric cars could be stolen “effortlessly in seconds”. Elliott Ingram, an expert in digital security, was stunned when a CCTV camera installed at his home recorded a hooded thief stealing his Hyundai Ioniq 5 car in less than 20 seconds.
The thief is believed to have used a device, available online, to mimic the car’s electronic key. It is the latest in a spate of thefts involving the vehicle, and many owners now resort to a steering lock. Ingram’s car was later recovered by police, but he is terminating the lease and seeking compensation from the motor company. He says the South Korean car giant should have alerted customers to the security vulnerabilities.
Continue reading...Rising costs and global uncertainty may force chancellor to turn to pensioners and wealthier taxpayers
Ministers may have to target pensioners and wealthier taxpayers at the autumn budget, as senior government figures voiced fears brutal welfare reforms would still not go far enough to tackle rising costs.
The Institute for Fiscal Studies warned the chancellor may be forced to consider a freeze on tax thresholds, hikes to capital gains and potentially pension taxes.
Continue reading...Axa and Scottish Widows back ShareAction campaign for chains such as Next to pay at least £12.60 an hour
Major investors including Axa and Scottish Widows are backing shareholder resolutions pressing retailers Next, Marks & Spencer and JD Sports to increase pay for thousands of workers.
More than 100 individuals and eight institutional investors, which manage over £1tn in assets, are backing an effort to encourage companies to pay a “real living wage”, which is designed to ensure workers can cover necessary household costs.
Continue reading...FCA to explore simplifying communications about savings accounts and review parts of its credit advertising rules
The City watchdog is considering changing rules to allow people to receive clearer information from financial firms to make it easier for them to find and compare products.
The Financial Conduct Authority (FCA) is exploring how it can simplify communications about savings accounts. The watchdog, which will announce its five-year strategy on Tuesday, will also review parts of its credit advertising rules, such as lengthy terms and conditions.
Continue reading...Committee warns of serious injustice to disabled motorists and those reliant on public chargers
The rollout of electric vehicle chargers across Britain is “patchy”, behind deadline and ignores the needs of disabled drivers, the parliamentary spending watchdog has found.
A report published by the public accounts committee (PAC) warned that the charging points needed to give drivers confidence for the switch to EVs were still lacking, particularly on Britain’s biggest roads.
Continue reading...Average property price dips to £298,602 in February despite analysts expecting rush before stamp duty rises
UK house prices unexpectedly fell last month as concerns over the sluggish economy outweighed an anticipated rush of people trying to complete purchases before stamp duty increases in April.
The average property price dipped by 0.1% in February to £298,602, having hit a record high in January, according to Halifax.
Continue reading...Levies on tourists and cruise ships considered by some local authorities in attempt to plug funding gaps
Council tax costs in Scotland will hit record levels next month after local authorities agreed to raise rates by up to 15%, with some planning new levies on tourists and cruise ships.
All of Scotland’s 32 local authorities have announced council tax increases from April of at least 6%, with the majority raising them by about 10%, after years of successive cuts to their grant funding.
Continue reading...