Chlorinated chicken banned?

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Fowl move

The EU will say the UK must keep the current ban on chlorinated chicken in place if we want a trade agreement with Brussels. It’s a move to protect European meat exports, and makes it harder for the UK to agree a trade deal with the US. The clause was revealed after the EU’s negotiating mandate (which lays out the grounds for a potential deal) was leaked.

Rogue home builders banned

A watchdog will be set up with the power to prevent cowboy developers from building new homes. The new homes ombudsman will also pay out compensation to people living in new builds with issues such as faulty wiring. The plans have been prompted by an alarming rise in shoddy building work in new homes; the Home Builders Federation (HBF) reported that 99% of customers reported snags in 2018, up from 93% in 2015.

Car insurance cancelled

Young drivers using the app Carrot Insurance have been threatened with having their car insurance cancelled. It’s meant to record accelerating, braking and other data in order to reward safe drivers with lower premiums. But many people have made complaints that faults with the app have led to policies being stopped or their premiums hiked.

Step aside, shareholders

Our corporate rules should be changed to prioritise workers, customers, and social goals as well as shareholders according to Andy Halden, the chief economist at the Bank of England. In a speech, he pointed to rising inequality and a decade of wage stagnation as proof as “the time is right for a refresh” of the capitalist model. In particular, he’s not a fan of the bit that says companies exist for the benefit of their shareholders.