No return to the office for many

The 1-minute read to get the money news you need with expert adviser commentary.

At home for some time to come

50 of the UK’s biggest employers are not planning to return their staff to the office in the near future, according to a survey by the BBC. The news comes as many smaller businesses are choosing to abandon offices altogether. Many city centre businesses like coffee shops, which depend on office workers for trade, have seen huge drops in customer numbers. It’s not yet clear what city centres will look like after the pandemic, but it seems likely that there will be permanent changes in the years to come.

Adviser comment: Working from home has been a blessing for some and a tough time for others. With the potential of this continuing for a significant amount of time it is worth looking at what you do with the money being saved from travel costs and if you are anything like me, eating out. This money could now be redirected to making sure your emergency fund is in place or putting towards your goals. Make the best of the situation and look to improve your situation where you can.

Lockdown on emissions

Changes in our behaviour caused by the pandemic have led to a substantial drop in the UK’s carbon emissions, according to a report by Carbon Trust. The estimated size of the change is equivalent to the emissions produced by the city of Nottingham for an entire year. The difference has been caused by the reduction in travel, but also by decreased spending on clothes. Unfortunately, analysis published recently suggests that the difference will not have a significant impact on climate change.

Stormy weather for oil

Oil prices in the US have surged as producers awaiting Hurricane Laura shutdown production. The imminent arrival of the hurricane, which is expected to have wind speeds of up to 115 miles per hour, has led the rate of crude oil production to fall to levels not seen since Hurricane Katrina. Oil prices had previously reached historic lows in April, driven by the impact of the pandemic on global transport.

Polio gone from Africa

After four years with no new cases, Africa has been declared free of wild polio. The last stage of combating the disease involved a programme of immunisation and monitoring in Northern Nigeria, where the last cases were reported. The news means that the virus can only now be found in Pakistan and Afghanistan. While there are ongoing attempts to vaccinate people in these countries, the campaign has been hampered by attacks on health workers and insecurity in the region.