Tag: money

Thousands of business apply for new lockdown survival loans

Banks have reported high volumes of interest in the scheme, which offers loans of between £2,000 to £50,000 that are 100% guaranteed by the government. The money is interest and payment free for the first year – with rates of 2.5% per annum after the first 12 months. Ministers say...

04.05.2020

Chancellor announces £330bn support for economy

Government-backed loans worth £330bn and a three-month mortgage holiday have been announced by the chancellor as part of “unprecedented” measures to help businesses and families. Rishi Sunak unveiled the package of support at a Downing Street news conference on Tuesday as he said the UK faced an “economic emergency” in...

17.03.2020

Pound erases election gains amid no-deal Brexit concern

THE pound has fallen back to where it was before the UK general election amid fresh concerns over a no-deal Brexit. The government has said it wants to rule out any extension to the Brexit transition period beyond the end of next year. Sterling fell 1% against the dollar, to...

17.12.2019

Treasury to recycle 50p coins marking Brexit

THE Treasury has confirmed that thousands of commemorative Brexit coins will be “recycled” after the EU granted a three-month extension. Hours after Boris Johnson accepted the EU’s offer of a Brexit delay, a spokesman for the Treasury confirmed to the Standard that the coins would be recycled. It follows reports that the specially...

31.10.2019

Sterling surges on renewed hopes of a deal

Sterling surged on Friday (11 Oct) to a three-month high amid investor optimism about a last-minute Brexit deal between Britain and the European Union. Against the dollar the pound rose 2% to $1.2685, and against the euro was up 1.4% at 87.2p. The currency has rallied more than 3% since...

11.10.2019

Euromillions £170m jackpot won by UK ticket holder

A UK ticket-holder has won the full £170m Euromillions jackpot, making them Britain’s richest ever lottery winner. National Lottery operator Camelot said the £170,221,000.00 jackpot was won by a single ticket-holder on Tuesday. The ticket-holder is yet to be named and it is unknown if it is a single person,...

09.10.2019

Online shopping anti-fraud scheme delayed

A new system designed to tackle fraud in online shopping has been delayed for 18 months. Banks and retailers had been expected to introduce a new layer of security from mid-September. This would normally see a passcode sent to a customer’s mobile phone at the point of checkout for online...

15.08.2019

PM gives a £85m boost to prosecution service

The Crown Prosecution Service will receive an extra £85m over the next two years, to help deal with a rise in violent crime in England and Wales. It comes as Boris Johnson launches a review of the sentencing of some dangerous and prolific offenders. He said dangerous criminals must be...

12.08.2019

Britain’s WWII code-breaking hero Alan Turing will be next face on £50 note

Second World War codebreaker Alan Turing will be the next person to feature on the £50 note, the Bank of England has confirmed today. The mathematician, known as the ‘father of computer science’ for his innovative methods, was revealed as the new face of the currency at a conference at...

15.07.2019

Pickpocketing doubles in one year on London tube

In the past two years, the number of pickpocketing offences on the London Underground has more than doubled. Figures released by the Mayor show there were 5,128 offences on the Tube in 2018-19, compared with 3,485 the previous year, a rise of nearly 50%. The number of pickpocketing offences has risen by...

04.07.2019

William Hill to shut 700 betting shops

William Hill has announced it plans to close some 700 betting shops in the UK, which could lead to 4,500 job losses. The firm which is the UK largest betting shop said the move followed the government’s decision in April to reduce the maximum stake on fixed-odds betting terminals to...

04.07.2019

UK EuroMillions winner yet to claim £123m

EuroMillions players have been urged to check their tickets after the UK winner of a £123m jackpot failed to come forward and claim their prize. A single ticket scooped last Tuesday’s £123,458,008 prize – the third biggest in the draw’s history. It is not yet known whether the winner is an individual...

18.06.2019

End of Ramadan set to boost sales for West End retailers

West End retailers are anticipating a rise in middle eastern customers celebrating the end of Ramadan with a shopping spree, research showed on Friday. New West End Company, representing 600 traders around Oxford Street and Bond Street, forecasts Muslim tourists will contribute heavily to the £13 million it expects international...

06.06.2019

2 million people lose out £1000 per year

NEARLY 2 million people on Universal Credit will lose out on more than £1,000 a year while 1.6 million will gain the amount, a new analysis has found. People will find they ‘win’ and ‘lose’ quite substantially under the new benefits system, the Institute for Fiscal Studies (IFS), which made...

27.04.2019

MasterCard faces £14billion damages claim

NERALY every adult in the UK could be in line for a payout from Mastercard after a £14billion damages claim against the payment provider was revived by the Court of Appeal on Wednesday 17 April. The legal action is being brought against the card giant by Former financial ombudsman Walter...

20.04.2019

First and second class stamp prices increased

A 3p rise on the cost of first and second class stamps has now taken effect, following a Royal Mail apology. The change takes the cost of a first-class stamp to 70p and a second-class stamp to 61p. The price increases are the highest for the two stamps together since...

29.03.2019

NatWest trailing fingerprint card machine

200 customers will be the first to trial a new specially made card machine, using their fingerprint to secure transactions without entering any PIN numbers or writing their signature. This new translation will not be limited to £30 like contactless transactions. While it raises questions over how well this...

12.03.2019

Use of cash is ‘falling apart’

THE system allowing people to use cash in the UK is at risk of “falling apart” and needs a new guarantee to ensure notes and coins can still be used. A hard-hitting review by finance experts has concluded that market forces will not save cash for as long as people...

10.03.2019