To triple lock or unlock: Pensioners risk losing out on hundreds of pounds per year if inflation-link is dropped October 19, 2022 This morning’s inflation figures mean that retirees could see their state pension boosted by a whopping 10.1 per cent in 2023/24, but only if Chancellor Jeremy Hunt doesn’t ditch the triple-lock. The increase would be in line with September’s Consumer Prices Index (CPI) inflation figure, which is usually used for benefits uprating Increasing the state pension by inflation rather [...]
Households will save £400 on energy bills if clock change is ditched October 18, 2022 Households could save more than £400 per year if daylight savings time was axed, according to a study from Queen's University Belfast.
Lookers begins £15m buyback programme as it raises year profit October 18, 2022 Lookers has begun a £15m share buyback programme as it raises profit forecasts for the full-year. The car dealership chain announced today that, encouraged by strong trading in the third quarter, it now expects profit before tax for 2022 to be ahead of previous expectations to no less than £75m. “We have built on the [...]
In the money: Moneysupermarket.com revenue swells amid travel return October 18, 2022 Price comparison platform Moneysupermarket.com has continued to see buoyant revenue after the return of summer holidays and business travel. In quarterly results on Tuesday, Moneysupermarket said recent performance had exceeded expectations and its full-year EBITDA would sit “towards the upper end of market expectations”. The London-listed company celebrated revenue of £101.9m, up one third, for [...]
Jet2 orders 35 Airbus planes for £3.4bn to meet travel demand October 18, 2022 Jet2 has ordered 35 A320 neo aircraft for $3.9bn (£3.4bn) from Airbus as it remains confident demand for package holidays will continue to surge over the next decade. The deal comes on the heels of Jet2 placing an order for 36 A321 neo last year – its first purchase from Airbus after years of loyalty [...]
Greta Thunberg: Some climate protests may do more harm than good October 18, 2022 Greta Thunberg has said the methods used by some climate activists have gone too far, suggesting they could do more harm than good for public opinion. The teenage activist said she was concerned that groups may sometimes alienate rather than drive home meaningful change when they take action. “The climate movement has a lot of [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
Pubs and brewers disappointed by alcohol duty reversal ahead of ‘toughest winter in history’ October 17, 2022 Pubs will be “hit extremely hard” this winter after the government scrapped an upcoming alcohol duty freeze, industry chiefs said. The duty freeze was one of many policies consigned to a bonfire of tax cuts from newly-appointed Chancellor Jeremy Hunt on Monday. Announced just a few weeks ago by Hunt’s predecessor Kwasi Kwarteng, the move would [...]
Investment fraud soars to nearly £1bn as criminals increasingly exploit social media October 17, 2022 Almost £900m has been lost to investment fraud in the past year, as police warn about the rise in the use of social media for bogus schemes. The lure of so-called ‘get rich quick’ initiatives have become “rife” during the cost of living crisis, as millions look for fix to their finanical woes. In a [...]
Record 730,000 retirees returning to work to top up pension as living crisis pushes older Brits to the brink October 17, 2022 More than 733,000 retirees across the UK are preparing to return to work as the cost-of-living crisis escalates, according to new research shared with City A.M. this morning. For 12 per cent of those in retirement, rising inflation has “upended” their retirement plans. More than a third of UK retirees are worried they will no [...]