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The 1-minute read to get the money news you need with expert adviser commentary.
British workers racked up over £24 billion worth of unpaid overtime in 2020, according to new data from the Trades Union Congress. 3 million people did extra work for free, averaging 7.7 unpaid hours a week. People working from home such as teachers, managers, and directors are among those most likely to be doing the most.
Companies are feeling positive about the future, for the first time since March last year. A survey in early February by Lloyd’s Bank found that business confidence has nudged into positive territory, even before Boris Johnson announced the roadmap out of lockdown. The bank’s senior economist says this shows firms are “cautiously pinning their hopes on economic revival”.
700,000 people went onto the furlough scheme January, as the third national lockdown got under way. The number of furloughed workers now stands at 4.7 million - the highest since last summer. It’s around half the number who were furloughed last spring, at the start of the crisis. Next week, chancellor Rishi Sunak will announce what’s happening with the furlough scheme beyond April.
Airbnb is getting ready for a big surge in bookings when the world emerges from lockdown restriction. The booking platform saystravel is coming back, but reckons travellers will want different things. Remote working could allow people to take more weekend trips, or spend several months away from home. Plus, social distancing rules mean there’s greater demand for private homes.
","url":"https://multiply.ghost.io/workers-missed-out-on-24bn/","uuid":"0d076516-ccc4-4eaf-9698-96325b8c734a","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6038c32efd86770039528537"}},{"node":{"id":"Ghost__Post__60377383fd8677003952851c","title":"£30 payout for phone owners?","slug":"30-payout-for-phone-owners","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-391.png","excerpt":"Plus: teachers get power to decide grades, and Primark predicts £1.5 billion hit.","custom_excerpt":"Plus: teachers get power to decide grades, and Primark predicts £1.5 billion hit.","created_at_pretty":"25 February, 2021","published_at_pretty":"25 February, 2021","updated_at_pretty":"25 February, 2021","created_at":"2021-02-25T09:53:07.000+00:00","published_at":"2021-02-25T09:57:53.000+00:00","updated_at":"2021-02-25T09:57:53.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nPhone owners due compensation?\nAround 29 million Apple and Samsung smartphone owners might be entitled to £30\nin compensation [https://www.bbc.co.uk/news/technology-56182272], if consumer\ngroup Which? wins a court case. It’s suing chipmaker Qualcomm, saying it\novercharged phone manufacturers which in turn inflated the handset prices. The\npayout to customers could total £480 million.\n\nTeachers to give grades\nThis year’s GCSE and A Level grades will be decided by teachers\n[https://www.bbc.co.uk/news/education-56157413], taking into account mock exams,\ncoursework, and essays. Exams have been cancelled for a second year in a row,\nand last summer thousands of students had their results downgraded by an\nalgorithm before being allowed to use their teacher-assigned grades after all.\nThe education regulator Ofqual has confirmed teachers will all use the same\nsystem to make it fair.\n\nPrimark predicts £1.5bn hit\nPrimark expects to lose £1.5 billion\n[https://news.sky.com/story/covid-19-primark-predicts-1-1bn-sales-hit-from-lockdown-store-closures-12228317] \nin sales during its current financial year - that’s a 40% fall from last year.\nThe fashion chain doesn’t do any business online, so it’s been hit hard in\nlockdown. Non-essential retail is currently closed, with no chance of reopening\nbefore 12th April. However, it says it expects to be very busy once it does,\nwith a big surge in sales from pent-up demand.","html":"The 1-minute read to get the money news you need.
Around 29 million Apple and Samsung smartphone owners might be entitled to £30 in compensation, if consumer group Which? wins a court case. It’s suing chipmaker Qualcomm, saying it overcharged phone manufacturers which in turn inflated the handset prices. The payout to customers could total £480 million.
This year’s GCSE and A Level grades will be decided by teachers, taking into account mock exams, coursework, and essays. Exams have been cancelled for a second year in a row, and last summer thousands of students had their results downgraded by an algorithm before being allowed to use their teacher-assigned grades after all. The education regulator Ofqual has confirmed teachers will all use the same system to make it fair.
Primark expects to lose £1.5 billion in sales during its current financial year - that’s a 40% fall from last year. The fashion chain doesn’t do any business online, so it’s been hit hard in lockdown. Non-essential retail is currently closed, with no chance of reopening before 12th April. However, it says it expects to be very busy once it does, with a big surge in sales from pent-up demand.
","url":"https://multiply.ghost.io/30-payout-for-phone-owners/","uuid":"22a13c60-e0bb-4be5-b27d-033296f4fa80","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60377383fd8677003952851c"}},{"node":{"id":"Ghost__Post__603625681c94980039a630c2","title":"Stamp duty holiday extended?","slug":"stamp-duty-holiday-extended","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-390.png","excerpt":"Plus: Tesla takes a tumble, vaccine passports to go to the pub? And a catch-up fund for kids.","custom_excerpt":"Plus: Tesla takes a tumble, vaccine passports to go to the pub? And a catch-up fund for kids.","created_at_pretty":"24 February, 2021","published_at_pretty":"24 February, 2021","updated_at_pretty":"24 February, 2021","created_at":"2021-02-24T10:07:36.000+00:00","published_at":"2021-02-24T10:26:43.000+00:00","updated_at":"2021-02-24T10:26:43.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nNo stamp duty til June\nChancellor Rishi Sunak is expected to extend the stamp duty holiday\n[https://www.cityam.com/chancellor-to-extend-stamp-duty-holiday-until-end-of-june/] \nby 3 months, keeping the tax break in place until the end of June. The deal\nwould stay the same: anyone buying a home for up to £500,000 would have no stamp\nduty to pay. Under this temporary measure, 9 out of 10 homebuyers are exempt\nfrom the tax. We’ll get more details about the extension in the budget on 3rd\nMarch.\n\nVaccine passports?\nWe could soon be flashing the NHS app\n[https://www.theguardian.com/world/2021/feb/24/nhs-covid-app-prove-vaccinated-status-access-venues-pubs-in-england] \non entry to pubs, clubs, and theatres in England, to prove our coronavirus\nstatus. Businesses in England will be given powers to check if punters have had\nthe jab, or the results of any recent tests. It would mean an update to the app,\nwhich currently can only offer “check in” at venues or tell you to self-isolate.\n\nSchool’s not out\nKids will get extra support to help them catch up on the learning they lost\nduring lockdown, including a programme of classes over the summer holidays\n[https://news.sky.com/story/covid-19-extra-cash-pledged-for-pupil-catch-up-programme-and-summer-schools-12227107]\n. The government has announced an extra £400 million in funding for the\nmeasures, which also include extra tutoring.\n\nMusk loses crown\nElon Musk is no longer the world’s richest person, after shares in his company\nTesla took a 20% dip [https://www.bbc.co.uk/news/business-56174404]. The firm\nrecently bought £1 billion of Bitcoin and announced it would accept the\ncryptocurrency as payment, causing the price to spike. But now Bitcoin and share\nprices are dropping, and the top spot is once again occupied by Amazon boss Jeff\nBezos.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
Chancellor Rishi Sunak is expected to extend the stamp duty holiday by 3 months, keeping the tax break in place until the end of June. The deal would stay the same: anyone buying a home for up to £500,000 would have no stamp duty to pay. Under this temporary measure, 9 out of 10 homebuyers are exempt from the tax. We’ll get more details about the extension in the budget on 3rd March.
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We could soon be flashing the NHS app on entry to pubs, clubs, and theatres in England, to prove our coronavirus status. Businesses in England will be given powers to check if punters have had the jab, or the results of any recent tests. It would mean an update to the app, which currently can only offer “check in” at venues or tell you to self-isolate.
Kids will get extra support to help them catch up on the learning they lost during lockdown, including a programme of classes over the summer holidays. The government has announced an extra £400 million in funding for the measures, which also include extra tutoring.
Elon Musk is no longer the world’s richest person, after shares in his company Tesla took a 20% dip. The firm recently bought £1 billion of Bitcoin and announced it would accept the cryptocurrency as payment, causing the price to spike. But now Bitcoin and share prices are dropping, and the top spot is once again occupied by Amazon boss Jeff Bezos.
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The 1-minute read to get the money news you need.
Boris Johnson has set out a 4-step plan to get England back to normal life. He’s prioritised schools, which will reopen on 8th March. Shops, gyms, and barbers could open their doors on 12th April if all goes to plan, followed by pubs and restaurants on 17th May. It’s a slower timetable than many expected - but the Prime Minister said he wants this to be the last lockdown, with all restrictions lifted by 21st June.
Airlines have seen a surge in bookings for summer holidays. EasyJet has reported a 630% jump in holiday bookings, with most people aiming to get away in August. According to the government’s plan, foreign travel won’t be allowed until 17th May, and it will depend on the verdict of a special report.
The jobless rate rose to 5.1% in the last 3 months of last year, according to the Office for National Statistics. That’s the highest since early 2016, and the majority of job losses have been among people under 25. Unemployment is being kept in check by the furlough scheme, which chancellor Rishi Sunak is expected to extend in his budget next week. The Bank of England expects the jobless rate to rise to 8% once the scheme ends.
Your boss can’t force you to get a coronavirus jab, if you don’t want it. Trade unions say employers could face legal action, if they discriminate against workers who haven’t been vaccinated. There’s concern that a “no jab, no job” policy could hit young people’s job prospects - they’ll be the last to get the vaccine, but are also the most likely to have lost their jobs.
","url":"https://multiply.ghost.io/one-way-road-to-freedom/","uuid":"fb1611d5-36ab-46e7-b676-b5c3f6a5fa1d","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"6034c60eddc5960039bb1e21"}},{"node":{"id":"Ghost__Post__603377534428b600398d2d60","title":"Route out of lockdown","slug":"route-out-of-lockdown","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-388.png","excerpt":"Plus: 56% firms planning to hire, Boeing 777s grounded, cosy home scheme falters.","custom_excerpt":"Plus: 56% firms planning to hire, Boeing 777s grounded, cosy home scheme falters.","created_at_pretty":"22 February, 2021","published_at_pretty":"22 February, 2021","updated_at_pretty":"22 February, 2021","created_at":"2021-02-22T09:20:19.000+00:00","published_at":"2021-02-22T09:47:42.000+00:00","updated_at":"2021-02-22T09:47:42.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need\n\nBig news from Boris\nThe PM is set to announce the plan for England to come out of lockdown\n[https://www.bbc.co.uk/news/uk-56148160] today. He’ll say that schools will\nreopen from 8th March, with new freedoms to socialise outside with one other\nperson to start at the same time. 3 weeks later, we’re likely to see the return\nof sports and the rule of 6 for outdoor fun. Pubs, restaurants, shops will have\nto wait until later.\n\nHiring spree?\nBritish companies are feeling better about hiring than they have for over a\nyear. 56% of firms say they’re planning to hire\n[https://www.reuters.com/article/us-britain-economy-jobs-idUSKBN2AM009] people\nin the next few months, according to the Chartered Institute for Personnel and\nDevelopment. The number of bosses planning redundancies has dropped too - down\nto 20%, from 30% at the end of last year.\n\nCosy home scheme\nOnly 2,600 homeowners have been able to access £5,000 vouchers\n[https://www.telegraph.co.uk/property/uk/half-million-miss-10000-green-home-grants/]\n* to make their homes warmer and more efficient. The target? 600,000. The scheme\nhas been extended to March 2022- but the funding hasn’t. That means over £1\nbillion of vouchers will remain unclaimed. The funding for the 2021/22 tax year\nwill be enough to go around 80,000 households.\n\nPlanes grounded\nBoeing 777s across the world are banned from flying\n[https://www.theguardian.com/business/2021/feb/22/boeing-777-grounded-by-airlines-after-faa-japan-issues-emergency-order] \nwhile the company investigates an engine failure that struck one of its jets in\nDenver. Many are out of service anyway because of the pandemic. In other bad\nnews for the industry, demand for new planes has dried up with no orders at all\nfor passenger planes in January.","html":"The 1-minute read to get the money news you need
The PM is set to announce the plan for England to come out of lockdown today. He’ll say that schools will reopen from 8th March, with new freedoms to socialise outside with one other person to start at the same time. 3 weeks later, we’re likely to see the return of sports and the rule of 6 for outdoor fun. Pubs, restaurants, shops will have to wait until later.
British companies are feeling better about hiring than they have for over a year. 56% of firms say they’re planning to hire people in the next few months, according to the Chartered Institute for Personnel and Development. The number of bosses planning redundancies has dropped too - down to 20%, from 30% at the end of last year.
Only 2,600 homeowners have been able to access £5,000 vouchers* to make their homes warmer and more efficient. The target? 600,000. The scheme has been extended to March 2022- but the funding hasn’t. That means over £1 billion of vouchers will remain unclaimed. The funding for the 2021/22 tax year will be enough to go around 80,000 households.
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Boeing 777s across the world are banned from flying while the company investigates an engine failure that struck one of its jets in Denver. Many are out of service anyway because of the pandemic. In other bad news for the industry, demand for new planes has dried up with no orders at all for passenger planes in January.
","url":"https://multiply.ghost.io/route-out-of-lockdown/","uuid":"4a792b78-c3ad-4c7d-a2b9-ed5c891fa9f8","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"603377534428b600398d2d60"}},{"node":{"id":"Ghost__Post__602f7dbc745b8e0039ba49dd","title":"Touchdown on Mars","slug":"touchdown-on-mars","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-387.png","excerpt":"Plus: government borrowed £8.8 billion, new UK science agency, and 2 million missing flight refunds.","custom_excerpt":"Plus: government borrowed £8.8 billion, new UK science agency, and 2 million missing flight refunds.","created_at_pretty":"19 February, 2021","published_at_pretty":"19 February, 2021","updated_at_pretty":"19 February, 2021","created_at":"2021-02-19T08:58:36.000+00:00","published_at":"2021-02-19T09:28:08.000+00:00","updated_at":"2021-02-19T09:34:42.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nPerseverance pays off\nNasa’s Mars rover has landed safely\n[https://www.bbc.co.uk/news/science-environment-56119931] after a perilous\n7-minute descent through the red planet’s atmosphere. It’s apparently in “great\nshape” and is already beaming back images of the surface. It’ll spend the next 2\nyears looking for evidence of alien life.\n\nRetail sales slump\nRetail sales fell by 8.5%\n[https://www.reuters.com/article/uk-health-coronavirus-britain-economy-idUSKBN2AJ0MS] \nin January according to the Office for National Statistics (ONS). It’s a far\nbigger fall than the 2.5% that economists predicted. Non-essential shops were\nclosed for most of the month under the latest lockdown, so shoppers had to go\nonline.\n\nJanuary borrowing\nThe ONS also says that the government borrowed £8.8 billion\n[https://news.sky.com/story/public-sector-borrowing-reaches-8-8bn-last-month-first-january-deficit-since-2011-12222376] \nin January - less than many expected. January is normally payday for the public\npurse, when many businesses pay their tax bills. But this year is different.\nTotal government borrowing is expected to hit £393 billion for this tax year -\nthe highest since the Second World War.\n\nMore inventions please\nWe’re getting a new science agency\n[https://www.bbc.co.uk/news/business-56117560] called Aria which will power\nadvances to follow the internet and GPS, which came out of similar agencies in\nthe US. Aria will get £800 million government money to fund 4 years of\nhigh-risk, high-reward research. That sounds like a lot - but it’s a fraction of\nthe £10 billion total allocated for research this year.\n\nNo flight refunds?\nMore than 2 million people won’t get their money back\n[https://www.bbc.co.uk/news/business-56098983] from unused plane tickets,\naccording to Which?. Most of them couldn't board their flights because of\ncoronavirus restrictions. The consumer group recommends checking the\ncancellation policy before booking anything.","html":"The 1-minute read to get the money news you need.
Nasa’s Mars rover has landed safely after a perilous 7-minute descent through the red planet’s atmosphere. It’s apparently in “great shape” and is already beaming back images of the surface. It’ll spend the next 2 years looking for evidence of alien life.
Retail sales fell by 8.5% in January according to the Office for National Statistics (ONS). It’s a far bigger fall than the 2.5% that economists predicted. Non-essential shops were closed for most of the month under the latest lockdown, so shoppers had to go online.
The ONS also says that the government borrowed £8.8 billion in January - less than many expected. January is normally payday for the public purse, when many businesses pay their tax bills. But this year is different. Total government borrowing is expected to hit £393 billion for this tax year - the highest since the Second World War.
We’re getting a new science agency called Aria which will power advances to follow the internet and GPS, which came out of similar agencies in the US. Aria will get £800 million government money to fund 4 years of high-risk, high-reward research. That sounds like a lot - but it’s a fraction of the £10 billion total allocated for research this year.
More than 2 million people won’t get their money back from unused plane tickets, according to Which?. Most of them couldn't board their flights because of coronavirus restrictions. The consumer group recommends checking the cancellation policy before booking anything.
","url":"https://multiply.ghost.io/touchdown-on-mars/","uuid":"1c14bb79-3184-4aaa-91d7-eb5659c5f61c","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"602f7dbc745b8e0039ba49dd"}},{"node":{"id":"Ghost__Post__602e312a72ac0b0039684273","title":"Sunak’s gonna spend","slug":"sunaks-gonna-spend","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute_386.png","excerpt":"There are less than 2 weeks to go until chancellor Rishi Sunak’s March budget.","custom_excerpt":"There are less than 2 weeks to go until chancellor Rishi Sunak’s March budget.","created_at_pretty":"18 February, 2021","published_at_pretty":"18 February, 2021","updated_at_pretty":"18 February, 2021","created_at":"2021-02-18T09:19:38.000+00:00","published_at":"2021-02-18T09:28:38.000+00:00","updated_at":"2021-02-18T09:33:28.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nBudget countdown\nThere are less than 2 weeks to go until chancellor Rishi Sunak’s March budget.\nHe’d hoped to be talking about rebuilding the economy and paying down public\ndebt. But now his plans are expected to focus on support measures\n[https://www.theguardian.com/uk-news/2021/feb/18/budget-to-provide-fresh-covid-rescue-package-as-tax-rises-deferred] \nfor struggling sectors like hospitality. Sunak backs a cautious reopening of the\neconomy - which probably means he will extend schemes like furlough and business\nloans.\n\nAnd if he doesn’t\n1 in 4 firms will have to let workers go\n[https://www.reuters.com/article/uk-health-coronavirus-britain-economy-idUSKBN2AI001] \nif the furlough scheme isn’t extended beyond the end of April, according to the\nBritish Chambers of Commerce (BCC). 61% of BCC member businesses have suffered a\nfall in sales since October. They’re calling for support to continue until they\ncan reopen and rebuild.\n\nNo promotions?\nRemote working will cost workers in lower wages\n[https://www.cityam.com/remote-working-will-come-at-a-cost-ftse-and-sp-500-hiring-execs-warn/] \nand fewer promotions, according to HR execs in top companies. Two thirds think\nemployees will spend less time at the office - and many believe wages would be\nadjusted if workers’ living costs are lower. Some also said they thought\npromotions could be restricted for people who work solely from home.\n\nGameStop lawsuits start\nAn investor who became a key figure in the GameStop saga last month is now \nfacing a class action lawsuit [https://www.bbc.co.uk/news/business-56106824]. He\nused his YouTube channel to urge people to buy shares in the gaming company.\nHe’s accused of market manipulation in the lawsuit filed by a guy who bought\ninto GameStop shares.","html":"The 1-minute read to get the money news you need.
There are less than 2 weeks to go until chancellor Rishi Sunak’s March budget. He’d hoped to be talking about rebuilding the economy and paying down public debt. But now his plans are expected to focus on support measures for struggling sectors like hospitality. Sunak backs a cautious reopening of the economy - which probably means he will extend schemes like furlough and business loans.
1 in 4 firms will have to let workers go if the furlough scheme isn’t extended beyond the end of April, according to the British Chambers of Commerce (BCC). 61% of BCC member businesses have suffered a fall in sales since October. They’re calling for support to continue until they can reopen and rebuild.
Remote working will cost workers in lower wages and fewer promotions, according to HR execs in top companies. Two thirds think employees will spend less time at the office - and many believe wages would be adjusted if workers’ living costs are lower. Some also said they thought promotions could be restricted for people who work solely from home.
An investor who became a key figure in the GameStop saga last month is now facing a class action lawsuit. He used his YouTube channel to urge people to buy shares in the gaming company. He’s accused of market manipulation in the lawsuit filed by a guy who bought into GameStop shares.
","url":"https://multiply.ghost.io/sunaks-gonna-spend/","uuid":"95dbceb6-12b3-4ebd-b04e-15cca2e1593f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"602e312a72ac0b0039684273"}},{"node":{"id":"Ghost__Post__602cd8af469c9a003979aea9","title":"Nightclubs can’t afford to test","slug":"nightclubs-cant-afford-to-test","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-385.png","excerpt":"Plus: inflation rises to 0.7%, oil companies to publish carbon data? And pubs push for full reopening.","custom_excerpt":"Plus: inflation rises to 0.7%, oil companies to publish carbon data? And pubs push for full reopening.","created_at_pretty":"17 February, 2021","published_at_pretty":"17 February, 2021","updated_at_pretty":"17 February, 2021","created_at":"2021-02-17T08:49:51.000+00:00","published_at":"2021-02-17T09:14:38.000+00:00","updated_at":"2021-02-17T09:14:38.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nTests too pricey\nClub, theatre and music venue bosses have warned that they can’t afford\n[https://inews.co.uk/news/business/covid-rapid-lateral-flow-tests-not-viable-reopen-nightclubs-874318] \nto do rapid testing at the door. Yesterday, Boris Johnson said testing would be\nthe most likely route to enjoying nights out again - but the industry isn’t\nsure. With the cheapest lateral flow tests costing at least £7 each, they say\nthey’d need government help to make it viable.\n\nInflation increase\nThe cost of living rose slightly in January\n[https://www.bbc.co.uk/news/business-56083963], recording an inflation rate of\n0.7% according to the Office for National Statistics. It was driven by small\nprice rises for food and household goods. It’s a bigger rise than many\neconomists expected, but still far below the Bank of England’s 2% target.\n\nOil firm confession?\nBlackRock has said that oil companies should publish their carbon emissions\n[https://www.theguardian.com/business/2021/feb/17/oil-firms-should-disclose-carbon-output-says-blackrock] \nand set targets to cut them. It’s the world’s largest and most influential\ninvestment manager, and will demand the data from all the highly polluting\ncompanies it holds shares in. Most big oil companies have already committed to\nreducing emissions by 2050.\n\nPub gardens only?\n6 in 10 pubs would be unable to reopen\n[https://inews.co.uk/news/business/pubs-remain-shut-only-outdoor-drinking-allowed-opening-covid-lockdown-rules-end-latest-874835] \nif drinking is only allowed outside, according to the British Beer and Pub\nAssociation. 29,000 pubs in the UK don’t have enough space to offer outdoor\nservice. Government plans suggest that al fresco pints will be the first step -\nbut the industry is pushing for a full reopening at the same time that\nnon-essential shops return.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
Club, theatre and music venue bosses have warned that they can’t afford to do rapid testing at the door. Yesterday, Boris Johnson said testing would be the most likely route to enjoying nights out again - but the industry isn’t sure. With the cheapest lateral flow tests costing at least £7 each, they say they’d need government help to make it viable.
The cost of living rose slightly in January, recording an inflation rate of 0.7% according to the Office for National Statistics. It was driven by small price rises for food and household goods. It’s a bigger rise than many economists expected, but still far below the Bank of England’s 2% target.
![](\"https://multiply.ghost.io/content/images/2021/02/image-9.png\")
BlackRock has said that oil companies should publish their carbon emissions and set targets to cut them. It’s the world’s largest and most influential investment manager, and will demand the data from all the highly polluting companies it holds shares in. Most big oil companies have already committed to reducing emissions by 2050.
6 in 10 pubs would be unable to reopen if drinking is only allowed outside, according to the British Beer and Pub Association. 29,000 pubs in the UK don’t have enough space to offer outdoor service. Government plans suggest that al fresco pints will be the first step - but the industry is pushing for a full reopening at the same time that non-essential shops return.
","url":"https://multiply.ghost.io/nightclubs-cant-afford-to-test/","uuid":"41730a1f-1afe-43cd-88ea-1ee7f39f340b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"602cd8af469c9a003979aea9"}},{"node":{"id":"Ghost__Post__602b92ea12379400397a39de","title":"Too early for tax rises?","slug":"too-early-for-tax-rises","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-384.png","excerpt":"Plus: 450,000 behind on rent, Jaguar is UK’s answer to Tesla, rapid tests to reopen clubs?","custom_excerpt":"Plus: 450,000 behind on rent, Jaguar is UK’s answer to Tesla, rapid tests to reopen clubs?","created_at_pretty":"16 February, 2021","published_at_pretty":"16 February, 2021","updated_at_pretty":"16 February, 2021","created_at":"2021-02-16T09:39:54.000+00:00","published_at":"2021-02-16T09:44:34.000+00:00","updated_at":"2021-02-16T09:44:34.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nEconomy needs more support\nThe government must continue measures like the furlough scheme to keep\nbusinesses going and prevent job losses, according to the Institute for Fiscal\nStudies (IFS). The think tank has said Chancellor Rishi Sunak should focus on\ntargeted support\n[https://www.reuters.com/article/uk-health-coronavirus-britain-budget-idUSKBN2AG009] \nto meet the triple threat of the pandemic, Brexit, and climate change. It\nreckons we’ll have to raise £60 billion extra in taxes to pay for the pandemic -\nbut his 3rd March budget is too early to start.\n\nFalling behind on rent\n450,000 families have fallen into rent or mortgage arrears\n[https://www.theguardian.com/society/2021/feb/16/calls-for-spanish-style-loan-scheme-to-help-uk-households-in-arrears] \nsince the start of the pandemic - and the government should step in to help,\naccording to the Resolution Foundation. It’s calling for £375 million of\nlow-interest loans, like those currently in place in Spain, Scotland, and Wales,\nto help England’s struggling renters and avoid an eviction crisis.\n\nThe show must go on?\nRapid lateral flow testing could give us a way back into nightclubs and theatres\n[https://www.bbc.co.uk/news/business-56077372] this year. Boris Johnson said\nyesterday that a combo of vaccinating the population and testing on entry could\nhelp to open some parts of the economy which have been closed since March 2020.\n\nUK’s answer to Tesla\nJaguar will be all-electric by 2025\n[https://www.bbc.co.uk/news/business-56072019], in a bid to make\nhigh-performance luxury cars that don’t damage the environment. It’s also\nplanning to invest in hydrogen fuel cell technology. Jaguar is owned by Jaguar\nLand Rover, which plans to make its full range battery powered by 2030.","html":"The 1-minute read to get the money news you need.
The government must continue measures like the furlough scheme to keep businesses going and prevent job losses, according to the Institute for Fiscal Studies (IFS). The think tank has said Chancellor Rishi Sunak should focus on targeted support to meet the triple threat of the pandemic, Brexit, and climate change. It reckons we’ll have to raise £60 billion extra in taxes to pay for the pandemic - but his 3rd March budget is too early to start.
![](\"https://multiply.ghost.io/content/images/2021/02/image-8.png\")
450,000 families have fallen into rent or mortgage arrears since the start of the pandemic - and the government should step in to help, according to the Resolution Foundation. It’s calling for £375 million of low-interest loans, like those currently in place in Spain, Scotland, and Wales, to help England’s struggling renters and avoid an eviction crisis.
Rapid lateral flow testing could give us a way back into nightclubs and theatres this year. Boris Johnson said yesterday that a combo of vaccinating the population and testing on entry could help to open some parts of the economy which have been closed since March 2020.
Jaguar will be all-electric by 2025, in a bid to make high-performance luxury cars that don’t damage the environment. It’s also planning to invest in hydrogen fuel cell technology. Jaguar is owned by Jaguar Land Rover, which plans to make its full range battery powered by 2030.
","url":"https://multiply.ghost.io/too-early-for-tax-rises/","uuid":"07c4a88b-67aa-4697-b4ae-c33c09598108","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"602b92ea12379400397a39de"}},{"node":{"id":"Ghost__Post__602a55d16eccea003936c3ba","title":"Big prices for big homes","slug":"big-prices-for-big-homes","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/Frame-100.png","excerpt":"Halifax is reporting that prices for detached homes increased 10% from December 2019 to 2020.","custom_excerpt":"Halifax is reporting that prices for detached homes increased 10% from December 2019 to 2020.","created_at_pretty":"15 February, 2021","published_at_pretty":"15 February, 2021","updated_at_pretty":"15 February, 2021","created_at":"2021-02-15T11:06:57.000+00:00","published_at":"2021-02-15T11:18:29.000+00:00","updated_at":"2021-02-15T11:18:29.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need.\n\nDemand for detached houses\nHalifax is reporting that prices for detached homes increased 10%\n[https://www.theguardian.com/business/2021/feb/15/demand-for-detached-houses-rose-in-covid-lockdown-says-halifax] \nfrom December 2019 to 2020 - beating semis (6.3%), terraced (5.8%), and flats\n(3.2%). Remote working means more people have been looking for bigger homes in\nleafier areas.\n\n\n\nRishi told to keep spending\nFunding the vaccine rollout and more furlough will push the UK deficit to over\n£295bn this financial year. But business leaders are saying carry on\n[https://www.telegraph.co.uk/business/2021/02/15/pandemic-push-deficit-295bn-sunak-must-keep-spending/]\n* - they argue if Chancellor Rishi Sunak stops spending, then it could derail\nthe recovery. Economists warn if the recovery isn’t strong enough, or if we\nspend too much, then public finances will require higher taxes or lower\ngovernment spending.\n\n\nSocial businesses shut out\nSocial Enterprise UK is calling for social business to have better access to\nbusiness support schemes [https://www.bbc.co.uk/news/business-56041028]. They\nclaim that hundreds of community-run businesses have closed because they are\noften customers of “ethical banks” - many of which are not accredited to offer\nthe government's Covid support loans. \n\n\nInvestors slam Woodford comeback\nNeil Woodford's failed investment fund lost large sums by betting big on\nhigh-risk small businesses. He’s now started a new investment management firm\n[https://www.telegraph.co.uk/business/2021/02/14/savers-lost-thousands-slam-woodford-comeback-plans/]\n* that targets large investors and is focussed on biotech. With £200m stuck in\nthe old fund at a 25% loss, a group claim is being made by old investors saying\nthat it was mismanaged and did not comply with regulations. \n\n\n\n*this article may need a subscription to read","html":"The 1-minute read to get the money news you need.
Halifax is reporting that prices for detached homes increased 10% from December 2019 to 2020 - beating semis (6.3%), terraced (5.8%), and flats (3.2%). Remote working means more people have been looking for bigger homes in leafier areas.
![](\"https://multiply.ghost.io/content/images/2021/02/Frame-102.png\")
Funding the vaccine rollout and more furlough will push the UK deficit to over £295bn this financial year. But business leaders are saying carry on* - they argue if Chancellor Rishi Sunak stops spending, then it could derail the recovery. Economists warn if the recovery isn’t strong enough, or if we spend too much, then public finances will require higher taxes or lower government spending.
Social Enterprise UK is calling for social business to have better access to business support schemes. They claim that hundreds of community-run businesses have closed because they are often customers of “ethical banks” - many of which are not accredited to offer the government's Covid support loans.
Neil Woodford's failed investment fund lost large sums by betting big on high-risk small businesses. He’s now started a new investment management firm* that targets large investors and is focussed on biotech. With £200m stuck in the old fund at a 25% loss, a group claim is being made by old investors saying that it was mismanaged and did not comply with regulations.
![](\"https://multiply.ghost.io/content/images/2021/02/Frame-103.png\")
*this article may need a subscription to read
The 1-minute read to get the money news you need.
It’s official: the economy shrank by 9.9% last year according to the Office for National Statistics. It’s the biggest annual slump we’ve ever had. The economy did manage to stabilise in the last 3 months of 2020, meaning we’ll probably avoid a double-dip recession.
Half of adults are now considered vulnerable* by the Financial Conduct Authority (FCA) after coronavirus has put people’s lives under extra pressure. Vulnerable adults are those with a lot of debt, low levels of savings, poor health, or who have recently been through difficult life events. 28 million adults are now in this camp - up from 24 million in February 2020.
![](\"https://multiply.ghost.io/content/images/2021/02/image-7.png\")
1 in 5 workers are going into a workplace to do a job that could be done at home, according to a YouGov poll. 40% of those say their boss insists they show up in person. The Trades Union Congress has also found that many of those workers are under pressure from employers to go into offices.
Lastminute.com could be taken to court over its failure to pay out over £1 million worth of holiday refunds. The Competition and Markets Authority (CMA) ordered the company to pay refunds to over 9,000 customers who had trips cancelled due to the pandemic - but 2,600 are still waiting for the cash.
*this article may need a subscription to read
","url":"https://multiply.ghost.io/double-dip-recession-avoided/","uuid":"285295c7-fc30-48e5-ba55-74a73422a4fa","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"602646467013350039427e75"}},{"node":{"id":"Ghost__Post__6024f63186a08b00399cb0cc","title":"London ousted by Amsterdam","slug":"london-ousted-by-amsterdam","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/02/minute-381.png","excerpt":"Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit.","custom_excerpt":"Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit.","created_at_pretty":"11 February, 2021","published_at_pretty":"11 February, 2021","updated_at_pretty":"11 February, 2021","created_at":"2021-02-11T09:17:37.000+00:00","published_at":"2021-02-11T09:23:19.000+00:00","updated_at":"2021-02-11T09:23:19.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"},{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"}],"plaintext":"The 1-minute read to get the money news you need.\n\nLondon loses crown\nAmsterdam has overtaken London\n[https://www.cityam.com/brexit-crowns-amsterdam-europes-top-trading-hub-ousting-london/] \nas Europe’s trading hub, with the City losing business after Brexit. The Dutch\ncapital handled €9.2 billion of trades in January, while London’s trading\nvolumes fell sharply to €8.6 billion. It’s mainly a symbolic moment - the\neconomic impact of the lost business is pretty small.\n\nBanks locked out?\nUK banks could be locked out of the EU banking market\n[https://www.telegraph.co.uk/business/2021/02/10/dont-cut-city-bailey-warns-brussels/]\n* leading to higher prices for mortgages, insurance, and other finance. We’re\nstill in talks to sort out a permanent post-Brexit deal for financial services.\nBut Andrew Bailey, the governor of the Bank of England, said there are signs the\nEU intends to cut the UK off.\n\nRecord Christmas\nRoyal Mail had its busiest Christmas ever\n[https://www.theguardian.com/business/2021/feb/11/royal-mail-delivers-record-parcel-numbers-as-covid-cuts-despatch-of-letters]\n, delivering 496 million parcels in the last 3 months of last year. That’s 30%\nmore than the same period in 2019. It struggled to deliver all those parcels on\ntime thanks to disruptions in the run up to Christmas with staff off sick or\nself isolating.\n\nDon’t book a holiday?\nConfusion is mounting over whether summer holidays will be possible. With\nstricter border measures coming into force to try and keep coronavirus variants\nout of the country, many are booking breaks in the UK. But Boris Johnson reckons \nwe should hold off\n[https://news.sky.com/story/covid-19-government-doing-everything-we-can-to-allow-summer-holidays-this-year-says-matt-hancock-12214840]\n, saying it’s too early to know what we’ll be able to do.","html":"The 1-minute read to get the money news you need.
Amsterdam has overtaken London as Europe’s trading hub, with the City losing business after Brexit. The Dutch capital handled €9.2 billion of trades in January, while London’s trading volumes fell sharply to €8.6 billion. It’s mainly a symbolic moment - the economic impact of the lost business is pretty small.
UK banks could be locked out of the EU banking market* leading to higher prices for mortgages, insurance, and other finance. We’re still in talks to sort out a permanent post-Brexit deal for financial services. But Andrew Bailey, the governor of the Bank of England, said there are signs the EU intends to cut the UK off.
Royal Mail had its busiest Christmas ever, delivering 496 million parcels in the last 3 months of last year. That’s 30% more than the same period in 2019. It struggled to deliver all those parcels on time thanks to disruptions in the run up to Christmas with staff off sick or self isolating.
Confusion is mounting over whether summer holidays will be possible. With stricter border measures coming into force to try and keep coronavirus variants out of the country, many are booking breaks in the UK. But Boris Johnson reckons we should hold off, saying it’s too early to know what we’ll be able to do.