Money blog
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The possibility of a peace deal between Russia and Ukraine has caused wholesale energy bills to fall in recent weeks, but household bills will still be going up from April. Consumers will be paying for the winter months. Europe endured a cold and still winter, meaning demand for energy increased while countries were less able…
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HM Revenue and Customs has been accused of “degrading its own services” and damaging trust in the tax system by parliament’s spending watchdog. A report from the Public Accounts Committee raised concerns about the tax agency, claiming it had worsened its telephone service “as a matter of policy” to drive users to digital channels. HMRC…
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Former governor of Anambra State and presidential candidate of the Labour Party, LP, in the 2023 general election, Mr Peter Obi has protested the level of hardship faced by the poor in Nigeria. Obi lamented the travails of low income earners and the exorbitant sums charged by POS operators to Nigerians seeking to access cash.…
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Good afternoon and welcome to MEZIESBLOG! Here we answer your financial problems or consumer disputes and proffer solutions. Today’s Money Problem is… We booked a holiday with TUI and the night before we tried to increase our luggage allowance (we were travelling with our one-year-old and only managed to finish packing at 6pm). TUI wouldn’t…
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Traders are preparing for the pound to fall by as much as 8%, Bloomberg reports. The pound is under pressure as government borrowing costs rise (see our market report at 10.17am). As markets opened this morning, the pound headed towards the $1.21 mark, the lowest level since November 2023. Bloomberg says: “There’s sizable demand for contracts that…
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Coventry Building Society has launched a new savings account for its loyal members to encourage better savings habits in the new year. Announcing the account, it said it offered a “market leading” rate of 6% for a regular saver. It can be opened by those who have been with the society continuously since at least…
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The UK’s Financial Conduct Authority (FCA) is consulting on plans for a new private stock market system. Under the new platform – the Private Intermittent Securities and Capital Exchange System (PISCES) – investors will be able to take more stakes in private companies and diversify their portfolios. If successful, it could improve access to capital…
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Lowri Williams is struggling to cover her basic expenses. Earning a low income with very little support, she says she feels like she’s “living hand-to-mouth” and barely getting by. She’s one of a large group of people in low-income households who are caught in a precarious position, earning too little to comfortably support themselves, but…
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The UK’s financial watchdog is investigating a £4bn insurance market following concerns it is not providing “fair value” for customers seeking financial protection in case of serious illness or death. The Financial Conduct Authority (FCA) has announced it is launching a market study into so-called pure protection products, which are designed to help individuals and…
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A major lender has announced it will allow first-time buyers to borrow up to five-and-a-half times their income in a bid to help more people onto the property ladder. Lloyds says it has increased its max loan-to-income ratio from 4.49 as the situation is “tough right now” for first-time house hunters. It means buyers with…
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Prezzo restaurants will undergo a major revamp in the next few years after dozens of its sites were closed in a restructuring programme. The high street restaurant chain announced the closure of 46 loss-making restaurants – more than a third of its sites – last year after it struggled with soaring energy and food costs.…
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A hotel chain in Manchester has been accused of cancelling bookings from customers on nights Oasis is planning to play in the city in 2025 – and relisting them for a higher price. Sacha Lord, nighttime economy adviser for Greater Manchester, wrote on X that he’d been contacted by “several people” who were told their…
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