Donald Tusk’s message to MPs: UK cannot renegotiate Brexit deal November 30, 2018 European Council president Donald Tusk ruled out renegotiating Theresa May’s Brexit deal today, saying if parliament rejects the agreement then Britain must either crash out of the EU with no deal or abandon Brexit altogether. “A few days before the vote in the House of Commons, it is becoming more and more clear that this [...]
Ex-Interpol chief expelled from China’s political advisory body after disappearing amid corruption charges November 30, 2018 The former head of Interpol has been expelled from China's top political advisory board, according to state media, due to the corruption case he is facing. Meng Hongwei had his membership revoked yesterday by the National Committee for the Chinese People's Political Consultative Conference (CPPP), whose 2,000-person assembly is tasked with advising the government with policy [...]
Marriott hotel hack: Half a billion customers’ personal information stolen in data breach November 30, 2018 International hotel chain Marriott has been hacked in a security breach affecting an estimated half a billion guests, the company announced today. The data breach affects customers who booked reservations at Starwood properties in the US, and the stolen information includes names, addresses, email addresses, passport numbers, dates of birth and in some cases payment [...]
Rail fare hike: How much your 2019 commute will cost November 30, 2018 Train tickets are set grow even more expensive next year, with fares rising an average of 3.1 per cent in January. The price hike – following a year of frustration for London commuters – has been much criticised, especially as it is tied to the more expensive Retail Price Index, rather than the more commonly [...]
Digital bank Monzo ‘to allow customers to go overdrawn’ to buy shares in £20m crowdfunding round November 30, 2018 Challenger bank Monzo will reportedly allow customers to borrow money to buy shares in its most recent fundraising round. The prospectus for the digital bank’s anticipated £20m crowdfunding lets account holders use their £1,000 overdraft to buy shares, but as shares are not openly traded they cannot then be sold to pay off overdrafts, according [...]
Banking challenger Chetwood builds the world’s first dynamic loan as fintech startups look on November 30, 2018 Welsh banking challenger Chetwood Financial has today unveiled the world’s first so-called dynamic loan, where the interest rate falls as borrowers improve their credit score. Built in collaboration with credit rating firm Clearscore and launched under its brand Livelend, the loan uses technology to monitor a customer’s credit score and reduce its rate at three-month [...]
Grenfell-style combustible cladding ban to cost high-rise developers and owners £337m over next decade November 30, 2018 The government’s ban on the use of Grenfell-style combustible materials on new high-rise buildings will cost the industry up to £337m, it has emerged. In an impact assessment of the legislation, Whitehall revealed the direct cost to developers and owners is expected to be between £249m and £337m over 10 years. The Ministry for Housing, [...]
Alternative finance lender Oakam is trying to help the unbanked November 30, 2018 Payday loan companies get a bad rap. And it’s easy to see why, considering the predatory businesses practices and extortionate interest rates charged by lenders like Wonga, which collapsed into administration this year. High-interest, short-term loans were back in the news this week, with the announcement that the fintech startup Monzo is considering offering such [...]
Tesco and Volkswagen team up to install electric car charging points at 600 supermarkets November 30, 2018 Tesco and Volkswagen are planning to install free electric car charging ports at 600 stores, the companies announced today. Over the next three years Britain’s largest supermarket will roll out more than 2,400 electric vehicle charging points at Tesco Extra and Superstore car parks, representing a 14 per cent increase in public charge bays across the [...]
‘A kick in the teeth for commuters’: The industry reacts to the rail fares hike November 30, 2018 Rail fares are set to increase by an average of 3.1 per cent in the new year, affecting millions of people and increasing many passengers' season tickets by around £100. The rise in the cost of travelling by train comes despite calls for a price freeze following a year of disruption that saw Network Rail fined [...]