![](\"https://multiply.ghost.io/content/images/2020/11/image-1.png\")
The 1-minute read to get the money news you need with expert adviser commentary.
Self-employed workers will get a grant for up to 80% of their profits during November’s month-long national lockdown. That’s double the amount that’s currently up for grabs. Applications will open at the end of November, and it’ll work the same as the previous scheme - to claim, you’ll need to earn at least half your income from freelance work.
The entire population of Liverpool can get weekly coronavirus tests under a new pilot scheme that starts on Friday. NHS staff will deliver the tests alongside 2,000 members of the military. If it goes well, mass testing could be rolled out to the rest of the country by Christmas and could be a game-changer in efforts to slow the spread.
Shops, hairdressers, and restaurants are open late this week to try and cram in last-minute business before the new lockdown rules come in on Thursday. Some shops have seen their sales hit double their usual levels in the last few days, and restaurant Gaucho said bookings were up 300% on Sunday.
Pubs and breweries have warned that they’ll have to throw beer away, as the new rules mean they won’t be able to sell takeaway pints on their premises. Wetherspoons is dealing with their glut of real ales by offering 99p pints until Wednesday.
","url":"https://multiply.ghost.io/self-employed-grants-return/","uuid":"1ce7d259-8fed-4f7f-a7cc-4666c39ac3e9","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5fa1231bb518410039cc1712"}},{"node":{"id":"Ghost__Post__5f9fd3cae225050039c79002","title":"Lockdown's back","slug":"lockdowns-back","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/11/Multiply-minute.png","excerpt":"The furlough scheme will stick around until December, to cover businesses forced to close by the new national lockdown.","custom_excerpt":"The furlough scheme will stick around until December, to cover businesses forced to close by the new national lockdown.","created_at_pretty":"02 November, 2020","published_at_pretty":"02 November, 2020","updated_at_pretty":"02 November, 2020","created_at":"2020-11-02T09:39:22.000+00:00","published_at":"2020-11-02T09:42:20.000+00:00","updated_at":"2020-11-02T09:42:20.000+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"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nFurlough returns\nThe furlough scheme will stick around until December\n[https://www.bbc.co.uk/news/explainers-52135342], to cover businesses forced to\nclose by the new national lockdown. Workers won’t see any difference to their\npay packets, but it’ll be easier on employers with the government putting in the\nfull 80%. Furlough will end once we come out of lockdown, when the Job Support\nScheme will kick in to replace it.\n\nMortgage holidays extended\nHomeowners can continue to pause mortgage payments\n[https://www.bbc.co.uk/news/business-54768692] if they’re struggling\nfinancially. The mortgage holiday scheme had been due to end at the weekend, but\nit has been extended for another 6 months. It’s available to all homeowners\nregardless of whether they have used it to defer payments the first time around.\n\nDouble dip\nEconomists are worried that the second national lockdown will push us back into\nrecession\n[https://www.theguardian.com/business/2020/nov/01/second-england-lockdown-fuels-fears-of-covid-double-dip-recession]\n. The Bank of England committee will meet this week to decide how to help -\nthey’re expected to boost their quantitative easing (QE) plans to inject up to\n£100 billion into the economy.\n\nUBI?\nCouncils should have the powers to trial Universal Basic Income\n[https://www.theguardian.com/society/2020/oct/31/covid-job-losses-lead-mps-to-call-for-trials-of-universal-basic-income] \n(UBI), according to a letter to Rishi Sunak signed by over 500 MPs, lords, and\ncouncillors. UBI would involve the state paying every adult a regular cash\npayment regardless of their income. The cross-party group says rising\nunemployment and widespread economic disruption means it’s the right time to try\nit.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The furlough scheme will stick around until December, to cover businesses forced to close by the new national lockdown. Workers won’t see any difference to their pay packets, but it’ll be easier on employers with the government putting in the full 80%. Furlough will end once we come out of lockdown, when the Job Support Scheme will kick in to replace it.
Homeowners can continue to pause mortgage payments if they’re struggling financially. The mortgage holiday scheme had been due to end at the weekend, but it has been extended for another 6 months. It’s available to all homeowners regardless of whether they have used it to defer payments the first time around.
![](\"https://multiply.ghost.io/content/images/2020/11/image.png\")
Economists are worried that the second national lockdown will push us back into recession. The Bank of England committee will meet this week to decide how to help - they’re expected to boost their quantitative easing (QE) plans to inject up to £100 billion into the economy.
Councils should have the powers to trial Universal Basic Income (UBI), according to a letter to Rishi Sunak signed by over 500 MPs, lords, and councillors. UBI would involve the state paying every adult a regular cash payment regardless of their income. The cross-party group says rising unemployment and widespread economic disruption means it’s the right time to try it.
","url":"https://multiply.ghost.io/lockdowns-back/","uuid":"91cc4814-6f27-4e4a-8103-57f5929546f5","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f9fd3cae225050039c79002"}},{"node":{"id":"Ghost__Post__5f9be11053e33d0039488912","title":"2 million still furloughed","slug":"2-million-still-furloughed","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-19.png","excerpt":"There are still 2 million workers relying on the furlough scheme, the day before it’s due to end.","custom_excerpt":"There are still 2 million workers relying on the furlough scheme, the day before it’s due to end.","created_at_pretty":"30 October, 2020","published_at_pretty":"30 October, 2020","updated_at_pretty":"30 October, 2020","created_at":"2020-10-30T09:46:56.000+00:00","published_at":"2020-10-30T09:49:09.000+00:00","updated_at":"2020-10-30T10:08:37.000+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"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nStill relying on furlough\nThere are still 2 million workers relying on the furlough scheme\n[https://www.theguardian.com/uk-news/2020/oct/29/ons-finds-2m-people-still-on-furlough-days-before-scheme-ends-coronavirus]\n, the day before it’s due to end. According to the Office for National\nStatistics (ONS), 7.5% of the workforce was furloughed between the 5th and the\n18th October. The furlough scheme ends on 31st October, and will be replaced by\nthe less generous Job Support Scheme (JSS). \n\nMortgage approvals surge\nThe number of mortgage approvals hit a new high in September - lenders \nrubber-stamped 91,454 mortgages\n[https://uk.reuters.com/article/uk-britain-economy-consumercredit/uk-mortgage-approvals-hit-13-year-high-consumer-lending-slides-idUKKBN27E1G3] \nin one month. That’s the highest figure since September 2007. It’s all part of\nthe post-lockdown mini boom caused by the release of pent-up demand and helped\nalong by the stamp duty holiday.\n\n\"We can’t really read anything more into this article because there aren't any\nsigns yet of how the market will look post April 2021.\"\n\nMillennials want to wfh\nThere is a generational divide in how people want to work post-coronavirus. 64%\nof under-35s think flexible working should be here to stay - making the idea \ntwice as popular\n[https://www.cityam.com/twice-as-many-young-people-want-permanent-flexible-working-post-covid/] \namong this age group compared to over-55s.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
There are still 2 million workers relying on the furlough scheme, the day before it’s due to end. According to the Office for National Statistics (ONS), 7.5% of the workforce was furloughed between the 5th and the 18th October. The furlough scheme ends on 31st October, and will be replaced by the less generous Job Support Scheme (JSS).
The number of mortgage approvals hit a new high in September - lenders rubber-stamped 91,454 mortgages in one month. That’s the highest figure since September 2007. It’s all part of the post-lockdown mini boom caused by the release of pent-up demand and helped along by the stamp duty holiday.
\"We can’t really read anything more into this article because there aren't any signs yet of how the market will look post April 2021.\"
There is a generational divide in how people want to work post-coronavirus. 64% of under-35s think flexible working should be here to stay - making the idea twice as popular among this age group compared to over-55s.
","url":"https://multiply.ghost.io/2-million-still-furloughed/","uuid":"61c137e8-48d6-4e77-a3f8-1d7c895a11ae","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f9be11053e33d0039488912"}},{"node":{"id":"Ghost__Post__5f9a8225887d83003934ae31","title":"Economists cut growth predictions","slug":"economists-cut-growth-predictions","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-18.png","excerpt":"Economists have downgraded their expectations of the UK economy in the last 3 months of the year.","custom_excerpt":"Economists have downgraded their expectations of the UK economy in the last 3 months of the year.","created_at_pretty":"29 October, 2020","published_at_pretty":"29 October, 2020","updated_at_pretty":"29 October, 2020","created_at":"2020-10-29T08:49:41.000+00:00","published_at":"2020-10-29T08:51:32.000+00:00","updated_at":"2020-10-29T08:51:32.000+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"}],"plaintext":"The 1-minute read to get the money news you need.\n\nGrowth forecast slashed\nEconomists have downgraded their expectations\n[https://www.cityam.com/uk-economy-experts-cut-forecasts-as-coronavirus-cases-surge/] \nof the UK economy in the last 3 months of the year. In September, the average\nprediction was for 4.5% GDP growth in Q4. But now that’s been cut to just 1.7%,\namid fears of rising cases and tightened restrictions.\n\nLast days of furlough\nChancellor Rishi Sunak is under pressure to extend the furlough scheme\n[https://www.theguardian.com/uk-news/2020/oct/28/economists-call-for-extension-of-uks-furlough-scheme-to-save-businesses]\n, which is due to end this Saturday. Economists are calling for more support for\nbusinesses to prevent them from going bankrupt if in the run-up to Christmas.\nThey’re worried about a double-dip recession if the government is forced to\nimpose a second national lockdown.\n\nCars need Brexit deal\nCar makers are urging the government\n[https://news.sky.com/story/brexit-plea-to-avoid-devastating-no-deal-as-uk-car-industry-sees-worst-september-in-25-years-12117498] \nto get an EU trade deal to make sure we can still export British-made cars to\nthe bloc without paying tariffs. September is usually a good month for the car\nindustry, but it’s had the worst one for 25 years. Production for the year is\ndown 35.9%, and it’s expected to fall below 1 million vehicles for the first\ntime since 1999.\n\nNo soy sauce discount\nThe government has clarified that soy sauce will not, in fact, get cheaper\nafter\nBrexit\n[https://inews.co.uk/inews-lifestyle/food-and-drink/soy-sauce-uk-after-brexit-japan-trade-deal-government-bake-off-soya-tweet-740313]\n. The Department for International Trade tweeted during Bake Off that the price\nof the condiment (which it referred to as “soya sauce”) would fall thanks to our\ntrade deal with Japan. It’s now clarified that the deal would simply prevent it\nfrom getting pricier under a no-deal Brexit.","html":"The 1-minute read to get the money news you need.
Economists have downgraded their expectations of the UK economy in the last 3 months of the year. In September, the average prediction was for 4.5% GDP growth in Q4. But now that’s been cut to just 1.7%, amid fears of rising cases and tightened restrictions.
Chancellor Rishi Sunak is under pressure to extend the furlough scheme, which is due to end this Saturday. Economists are calling for more support for businesses to prevent them from going bankrupt if in the run-up to Christmas. They’re worried about a double-dip recession if the government is forced to impose a second national lockdown.
Car makers are urging the government to get an EU trade deal to make sure we can still export British-made cars to the bloc without paying tariffs. September is usually a good month for the car industry, but it’s had the worst one for 25 years. Production for the year is down 35.9%, and it’s expected to fall below 1 million vehicles for the first time since 1999.
The government has clarified that soy sauce will not, in fact, get cheaper after Brexit. The Department for International Trade tweeted during Bake Off that the price of the condiment (which it referred to as “soya sauce”) would fall thanks to our trade deal with Japan. It’s now clarified that the deal would simply prevent it from getting pricier under a no-deal Brexit.
","url":"https://multiply.ghost.io/economists-cut-growth-predictions/","uuid":"bfb2d237-0ff6-415d-a303-3d1d8567677b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f9a8225887d83003934ae31"}},{"node":{"id":"Ghost__Post__5f993fcc5b90ba0039e6acae","title":"Unemployment hits young workers","slug":"unemployment-hits-young-workers","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-17.png","excerpt":"19% of 18-24 year old workers who were furloughed had lost their jobs by September.","custom_excerpt":"19% of 18-24 year old workers who were furloughed had lost their jobs by September.","created_at_pretty":"28 October, 2020","published_at_pretty":"28 October, 2020","updated_at_pretty":"28 October, 2020","created_at":"2020-10-28T09:54:20.000+00:00","published_at":"2020-10-28T10:02:50.000+00:00","updated_at":"2020-10-28T10:02:50.000+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"}],"plaintext":"1 in 5 lose jobs\nYoung people have been hardest hit by post-furlough unemployment. 19% of 18-24\nyear old workers who were furloughed had lost their jobs by September\n[https://www.bbc.co.uk/news/business-54714896], according to a new study from\nthe Resolution Foundation. The data shows that black and minority ethnic workers\nwere more likely to lose their jobs.\n\nHouse prices still rising\nThe trend of rising house prices continued into September\n[https://www.cityam.com/rush-to-beat-stamp-duty-rise-sees-uk-house-prices-jump-again/]\n, with prices now 3% higher than this time last year according to data from\nZoopla. It seems to be driven by demand - many buyers are still waiting to\ncomplete, 140,000 more than last year.\n\nPaying for current accounts?\nHSBC could become the first high street bank to start charging for current\naccounts\n[https://www.theguardian.com/business/2020/oct/27/hsbc-plans-cost-cuts-forecast-beating-results-bank-accounts]\n. It’s struggling to make ends meet after low interest rates hit its earnings.\nHSBC provides around 9.8 million bank accounts, and many could soon come with\ncharges - except the bank’s no-frills basic bank account which will still be\nfree.\n\nAirports going bust\n200 of the UK and Europe’s 740 airports are at risk of going bust\n[https://www.theguardian.com/world/2020/oct/27/nearly-200-airports-in-uk-and-europe-could-go-bust-due-to-collapse-in-air-travel] \nwithin months. The at-risk airports employ 277,000 people and generate £11.2bn a\nyear but they face insolvency if passenger numbers don’t pick up by the end of\nyear.\n\nWoolworths hoax\nA viral tweet announcing the comeback of former high street icon Woolworths has \nturned out to be fake [https://www.bbc.co.uk/news/technology-54706063]. Many\npeople fell for the fake news that the much-loved retailer, which closed in\n2008, was planning to reopen stores. However, some pointed out that Woolworths’\nfamous pick n mix wouldn’t fly in the time of coronavirus.","html":"Young people have been hardest hit by post-furlough unemployment. 19% of 18-24 year old workers who were furloughed had lost their jobs by September, according to a new study from the Resolution Foundation. The data shows that black and minority ethnic workers were more likely to lose their jobs.
The trend of rising house prices continued into September, with prices now 3% higher than this time last year according to data from Zoopla. It seems to be driven by demand - many buyers are still waiting to complete, 140,000 more than last year.
![](\"https://multiply.ghost.io/content/images/2020/10/image-9.png\")
HSBC could become the first high street bank to start charging for current accounts. It’s struggling to make ends meet after low interest rates hit its earnings. HSBC provides around 9.8 million bank accounts, and many could soon come with charges - except the bank’s no-frills basic bank account which will still be free.
![](\"https://multiply.ghost.io/content/images/2020/10/image-10.png\")
200 of the UK and Europe’s 740 airports are at risk of going bust within months. The at-risk airports employ 277,000 people and generate £11.2bn a year but they face insolvency if passenger numbers don’t pick up by the end of year.
A viral tweet announcing the comeback of former high street icon Woolworths has turned out to be fake. Many people fell for the fake news that the much-loved retailer, which closed in 2008, was planning to reopen stores. However, some pointed out that Woolworths’ famous pick n mix wouldn’t fly in the time of coronavirus.
","url":"https://multiply.ghost.io/unemployment-hits-young-workers/","uuid":"3e998d48-b589-42ea-bff2-e73bc792aef6","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f993fcc5b90ba0039e6acae"}},{"node":{"id":"Ghost__Post__5f97e5e04b648b0039ef5a9e","title":"London loses green crown","slug":"london-loses-green-crown","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-16.png","excerpt":"Amsterdam and Zurich have overtaken London as the top cities for green investment.","custom_excerpt":"Amsterdam and Zurich have overtaken London as the top cities for green investment.","created_at_pretty":"27 October, 2020","published_at_pretty":"27 October, 2020","updated_at_pretty":"27 October, 2020","created_at":"2020-10-27T09:18:24.000+00:00","published_at":"2020-10-27T09:21:57.000+00:00","updated_at":"2020-10-27T09:21:57.000+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"}],"plaintext":"The 1-minute read to get the money news you need.\n\nGreen finance\nAmsterdam and Zurich have overtaken London\n[https://www.cityam.com/london-loses-crown-as-global-green-finance-leader/] as\nthe top cities for green investment. The City of London think tank ranks 74\nworld cities for their investment in sustainable development - London’s been on\ntop for the quality of its green finance for the past 2 years. The amount raised\nin green bonds on the London Stock Exchange has surged from £8bn in 2017 to\n£22.4bn this year. \n\nLocked phones banned\nMobile networks will soon be banned from selling phones locked to their own\nnetwork. From December 2021, devices will have to be sold unlocked\n[https://www.bbc.co.uk/news/technology-54692179] - meaning they work on any\nnetwork. The move comes after regulator Ofcom found that getting a phone\nunlocked was too complicated, which was putting customers off from switching to\na better deal.\n\nDamaging creativity?\nWorking from home is damaging the UK’s creativity\n[https://www.theguardian.com/business/2020/oct/26/working-from-home-damaging-britains-creative-potential-and-economic-wellbeing]\n, and could harm the economy long term, according to Anthony Haldane, chief\neconomist at the Bank of England. In a speech, he acknowledged that the shift to\nhome working during lockdown had its benefits. But he warned that we’re losing\nopportunities for creative expression and innovation. \n\nAl fresco winter\nRestaurants and pubs are prepping for a tough winter, after new restrictions\nlimit millions to meeting outside. Many are looking at ways to keep the al\nfresco dining trend going\n[https://inews.co.uk/inews-lifestyle/food-and-drink/restaurants-preparing-winter-westminster-council-charge-extra-outdoor-space-738253]\n, from branded bobble hats to outdoor heaters.","html":"The 1-minute read to get the money news you need.
Amsterdam and Zurich have overtaken London as the top cities for green investment. The City of London think tank ranks 74 world cities for their investment in sustainable development - London’s been on top for the quality of its green finance for the past 2 years. The amount raised in green bonds on the London Stock Exchange has surged from £8bn in 2017 to £22.4bn this year.
Mobile networks will soon be banned from selling phones locked to their own network. From December 2021, devices will have to be sold unlocked - meaning they work on any network. The move comes after regulator Ofcom found that getting a phone unlocked was too complicated, which was putting customers off from switching to a better deal.
Working from home is damaging the UK’s creativity, and could harm the economy long term, according to Anthony Haldane, chief economist at the Bank of England. In a speech, he acknowledged that the shift to home working during lockdown had its benefits. But he warned that we’re losing opportunities for creative expression and innovation.
Restaurants and pubs are prepping for a tough winter, after new restrictions limit millions to meeting outside. Many are looking at ways to keep the al fresco dining trend going, from branded bobble hats to outdoor heaters.
","url":"https://multiply.ghost.io/london-loses-green-crown/","uuid":"2adc864c-9a64-4027-a91b-0fb06de2a84b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f97e5e04b648b0039ef5a9e"}},{"node":{"id":"Ghost__Post__5f96939c90bc3200391d7306","title":"Meet \"Generation Covid\"","slug":"meet-generation-covid","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-15.png","excerpt":"Young people are bearing the brunt of coronavirus restrictions and their economic fallout - and the damage could be permanent.","custom_excerpt":"Young people are bearing the brunt of coronavirus restrictions and their economic fallout - and the damage could be permanent.","created_at_pretty":"26 October, 2020","published_at_pretty":"26 October, 2020","updated_at_pretty":"26 October, 2020","created_at":"2020-10-26T09:15:08.000+00:00","published_at":"2020-10-26T09:20:18.000+00:00","updated_at":"2020-10-26T09:20:18.000+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"}],"plaintext":"The 1-minute read to get the money news you need.\n\nGeneration Covid\nYoung people are bearing the brunt [https://www.bbc.co.uk/news/uk-54662485] of\ncoronavirus restrictions and their economic fallout - and the damage could be\npermanent. 60% of 16-25 year olds have seen their income take a hit, and they’re\ntwice as likely to lose their jobs as older people. Meanwhile, around 2.5\nmillion kids had no schooling during lockdown. \n\nSmall business at risk\nAn estimated 6 million small businesses are in a precarious position, putting\n16.6 million jobs at risk. A study by King’s Business School found that two\nthirds of businesses owners think they might not survive the pandemic\n[https://www.theguardian.com/business/2020/oct/26/covid-threatens-6m-uk-small-businesses-16m-jobs]\n, and more than half say they will run out of money within the next 12 months.\n\nDividends next year?\nBanks might be allowed to start paying dividends again\n[https://uk.reuters.com/article/UKNews1/idUKKBN27A12I] next year. Commercial\nbanks had to cancel dividend payments to shareholders in March this year, to\nsave money and make sure they had plenty of cash in reserve. Now, regulators say\nbanks could restart payments as long as their buffers are strong.\n\nWoodford in court\nThe first legal case\n[https://www.cityam.com/first-woodford-court-battle-could-come-this-year/] \nrelating to the collapsed Woodford fund will be launched by the end of the year.\nIt’ll argue that Link, the director of the fund, failed to supervise the fund,\nleading to the loss of many people’s money. It’s likely to be the first of many\ncases - 15,000 investors have said they might want to make a claim.","html":"The 1-minute read to get the money news you need.
Young people are bearing the brunt of coronavirus restrictions and their economic fallout - and the damage could be permanent. 60% of 16-25 year olds have seen their income take a hit, and they’re twice as likely to lose their jobs as older people. Meanwhile, around 2.5 million kids had no schooling during lockdown.
An estimated 6 million small businesses are in a precarious position, putting 16.6 million jobs at risk. A study by King’s Business School found that two thirds of businesses owners think they might not survive the pandemic, and more than half say they will run out of money within the next 12 months.
Banks might be allowed to start paying dividends again next year. Commercial banks had to cancel dividend payments to shareholders in March this year, to save money and make sure they had plenty of cash in reserve. Now, regulators say banks could restart payments as long as their buffers are strong.
The first legal case relating to the collapsed Woodford fund will be launched by the end of the year. It’ll argue that Link, the director of the fund, failed to supervise the fund, leading to the loss of many people’s money. It’s likely to be the first of many cases - 15,000 investors have said they might want to make a claim.
","url":"https://multiply.ghost.io/meet-generation-covid/","uuid":"ab063f31-0c7e-4974-b58b-9dedf3821ac6","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f96939c90bc3200391d7306"}},{"node":{"id":"Ghost__Post__5f92a04b7c6da500392fbed9","title":"New furlough scheme extended","slug":"new-furlough-scheme-extended","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-14.png","excerpt":"Rishi Sunak is beefing up the Job Support Scheme (JSS) to help businesses in tier 2 and 3 areas","custom_excerpt":"Rishi Sunak is beefing up the Job Support Scheme (JSS) to help businesses in tier 2 and 3 areas","created_at_pretty":"23 October, 2020","published_at_pretty":"23 October, 2020","updated_at_pretty":"23 October, 2020","created_at":"2020-10-23T09:20:11.000+00:00","published_at":"2020-10-23T09:24:21.000+00:00","updated_at":"2020-10-23T09:24:21.000+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"}],"plaintext":"The 1-minute read to get the money news you need.\n\nNew furlough scheme\nYesterday, Rishi Sunak announced that he’s beefing up the Job Support Scheme\n(JSS) to help businesses in tier 2 and 3 areas. It’ll subsidise wages for pubs,\nrestaurants, and other companies which have to close, or are less busy, because\nof the restrictions. How will it work? It’s complicated, but there’s a good\nexplanation here [https://www.bbc.co.uk/news/explainers-52135342].\n\nJapan trade deal\nThe UK has struck a free trade deal with Japan\n[https://www.cityam.com/uk-signs-free-trade-deal-with-japan/], which will exempt\nus from tariffs on 99% of our exports there. The government says the agreement\nwill boost trade by £15 billion. Aside from the temporary agreement signed\nearlier this week with Norway, it’s the first proper trade deal we’ve secured as\npart of post-Brexit planning.\n\nRetail stays strong\nShoppers were out in force in September, spending on groceries, DIY stuff, and\ngardening supplies. Overall, retail sales were 1.5% higher\n[https://www.bbc.co.uk/news/business-54656486] than in August, making it the\nfifth month of growth in a row. Fuel is the only thing we’re buying less of,\ncompared to pre-pandemic levels.\n\nFinger-lickin’ Kickstart\nKFC is hiring 5,400 new staff\n[https://uk.reuters.com/article/UKNews1/idUKKBN27738X] between now and\nChristmas, with many of the jobs reserved for 16-24 year olds as part of the\nKickstart scheme. The fried chicken chain has 965 outlets across the UK and\nIreland, and plans to add to its workforce across the two countries.","html":"The 1-minute read to get the money news you need.
Yesterday, Rishi Sunak announced that he’s beefing up the Job Support Scheme (JSS) to help businesses in tier 2 and 3 areas. It’ll subsidise wages for pubs, restaurants, and other companies which have to close, or are less busy, because of the restrictions. How will it work? It’s complicated, but there’s a good explanation here.
The UK has struck a free trade deal with Japan, which will exempt us from tariffs on 99% of our exports there. The government says the agreement will boost trade by £15 billion. Aside from the temporary agreement signed earlier this week with Norway, it’s the first proper trade deal we’ve secured as part of post-Brexit planning.
Shoppers were out in force in September, spending on groceries, DIY stuff, and gardening supplies. Overall, retail sales were 1.5% higher than in August, making it the fifth month of growth in a row. Fuel is the only thing we’re buying less of, compared to pre-pandemic levels.
KFC is hiring 5,400 new staff between now and Christmas, with many of the jobs reserved for 16-24 year olds as part of the Kickstart scheme. The fried chicken chain has 965 outlets across the UK and Ireland, and plans to add to its workforce across the two countries.
","url":"https://multiply.ghost.io/new-furlough-scheme-extended/","uuid":"fadbe436-5c1e-4de6-b014-294857ae18ec","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f92a04b7c6da500392fbed9"}},{"node":{"id":"Ghost__Post__5f914702e80c3f0039d78b8e","title":"New help for workers","slug":"untitled-20","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-13.png","excerpt":"New support is coming for workers in areas under tier 2 restrictions.","custom_excerpt":"New support is coming for workers in areas under tier 2 restrictions.","created_at_pretty":"22 October, 2020","published_at_pretty":"22 October, 2020","updated_at_pretty":"22 October, 2020","created_at":"2020-10-22T08:46:58.000+00:00","published_at":"2020-10-22T08:49:19.000+00:00","updated_at":"2020-10-22T08:49:19.000+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"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nTier 2 package\nNew support is coming for workers in areas under tier 2 restrictions. In these\nareas, pubs, restaurants, and other businesses have seen a drop in sales but\nwon’t qualify for the existing support. Later today, Chancellor Rishi Sunak is\nexpected to announce an update [https://www.bbc.co.uk/news/business-54639713] to\nthe Job Support Scheme, which is replacing the furlough scheme from next month.\n\nStruggle to pay bills\nMillions of people are struggling to keep up with their rent, mortgage, and\nother repayments, according to the Financial Conduct Authority. It found that 12\nmillion people are now financially vulnerable\n[https://uk.reuters.com/article/idUKKBN2763C5], up by 2 million since February.\nAlmost a third of adults have suffered a drop in income and black and minority\nethnic respondents have been hit hardest, with 37% reporting a hit to their\nincomes.\n\n\"If you’re worried about falling behind on mortgage, rent, or debt repayments,\nwe recommend reading our 4-part series on dealing with debt. Check out part 1 \nhere\n[https://multiply-blog.appspot.com/debt-series-1-dealing-with-debt-in-a-pandemic/]\n.\"\n\nNorway trade deal\nWe’ve struck a temporary agreement with Norway to allow trade to continue\n[https://www.cityam.com/uk-strikes-deal-with-norway-to-continue-trade-in-case-of-no-deal-brexit/] \nif there’s a no-deal Brexit. It only covers goods so far, but they’re looking\ninto an agreement for services and investments too. Norway is a member of the\nEuropean Economic Area and so has access to the single market, despite not being\nan EU member.\n\neBay millionaires\nOver 1,000 people now make more than £1 million\n[https://www.telegraph.co.uk/money/consumer-affairs/number-ebay-millionaires-soars-sellers-cash-lockdown/]\n* a year by selling stuff on eBay - up by 35% from last year. Sellers cashed in\non lockdown spending trends, peddling books, beekeeping equipment, and lingerie.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
New support is coming for workers in areas under tier 2 restrictions. In these areas, pubs, restaurants, and other businesses have seen a drop in sales but won’t qualify for the existing support. Later today, Chancellor Rishi Sunak is expected to announce an update to the Job Support Scheme, which is replacing the furlough scheme from next month.
Millions of people are struggling to keep up with their rent, mortgage, and other repayments, according to the Financial Conduct Authority. It found that 12 million people are now financially vulnerable, up by 2 million since February. Almost a third of adults have suffered a drop in income and black and minority ethnic respondents have been hit hardest, with 37% reporting a hit to their incomes.
\"If you’re worried about falling behind on mortgage, rent, or debt repayments, we recommend reading our 4-part series on dealing with debt. Check out part 1 here.\"
We’ve struck a temporary agreement with Norway to allow trade to continue if there’s a no-deal Brexit. It only covers goods so far, but they’re looking into an agreement for services and investments too. Norway is a member of the European Economic Area and so has access to the single market, despite not being an EU member.
Over 1,000 people now make more than £1 million* a year by selling stuff on eBay - up by 35% from last year. Sellers cashed in on lockdown spending trends, peddling books, beekeeping equipment, and lingerie.
","url":"https://multiply.ghost.io/untitled-20/","uuid":"3ff3f353-7876-437d-95a9-eabfa6894152","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f914702e80c3f0039d78b8e"}},{"node":{"id":"Ghost__Post__5f8ffd3fd8dbae0039ff1945","title":"UK keeps borrowing","slug":"uk-keeps-borrowing","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-12.png","excerpt":"The government borrowed more than expected in September, bringing this year’s total to £210 billion.","custom_excerpt":"The government borrowed more than expected in September, bringing this year’s total to £210 billion.","created_at_pretty":"21 October, 2020","published_at_pretty":"21 October, 2020","updated_at_pretty":"21 October, 2020","created_at":"2020-10-21T09:19:59.000+00:00","published_at":"2020-10-21T09:26:21.000+00:00","updated_at":"2020-10-21T09:26:21.000+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"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nBorrow like it’s the 60’s\nThe government borrowed more than expected\n[https://www.cityam.com/uk-public-borrowing-unexpectedly-picks-up-as-debt-pile-hits-1960-level/] \nin September, bringing this year’s total to £210 billion. We’re now sitting on a\nnational debt pile of £2.06 trillion - the highest since 1960. But the\nInternational Monetary Fund (IMF) is cheering us on, saying high levels of\npublic debt are “not the most immediate risk” and that governments need to be\ncareful not to withdraw support too early.\n\nInflation picks up\nPrices rose by 0.5% [https://www.bbc.co.uk/news/business-54626729] in September,\ndriven by a return to normal restaurant prices after the Eat Out to Help Out\nscheme ended. Transport costs also went up, with more people buying second hand\ncars to avoid taking public transport.\n\nScrap triple lock?\nWe could see the end of the state pension triple lock, along with cuts to child\nbenefit and foreign aid, under new proposals\n[https://www.theguardian.com/money/2020/oct/21/scrap-pensions-triple-lock-to-help-save-uk-finances-says-influential-thinktank] \nfrom the Centre for Policy Studies (CPS). The thinktank is looking for ways to\navoid tax rises to fund coronavirus borrowing. The CPS is pretty influential -\nits director Robert Colvile helped write the Conservative manifesto.\n\nPosties picking up\nFrom today, your local postie will collect parcels from your door for 72p\n[https://www.bbc.co.uk/news/business-54614871]. It wants a bigger share of the\nparcel delivery market, competing with couriers like DPD, Hermes, and DHL. Royal\nMail says its Parcel Collect service will help people who can't face the queues\nin the post office, and reckons it’s the biggest change to the service since the\nlaunch of the post box in 1852.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The government borrowed more than expected in September, bringing this year’s total to £210 billion. We’re now sitting on a national debt pile of £2.06 trillion - the highest since 1960. But the International Monetary Fund (IMF) is cheering us on, saying high levels of public debt are “not the most immediate risk” and that governments need to be careful not to withdraw support too early.
Prices rose by 0.5% in September, driven by a return to normal restaurant prices after the Eat Out to Help Out scheme ended. Transport costs also went up, with more people buying second hand cars to avoid taking public transport.
We could see the end of the state pension triple lock, along with cuts to child benefit and foreign aid, under new proposals from the Centre for Policy Studies (CPS). The thinktank is looking for ways to avoid tax rises to fund coronavirus borrowing. The CPS is pretty influential - its director Robert Colvile helped write the Conservative manifesto.
![](\"https://multiply.ghost.io/content/images/2020/10/image-8.png\")
From today, your local postie will collect parcels from your door for 72p. It wants a bigger share of the parcel delivery market, competing with couriers like DPD, Hermes, and DHL. Royal Mail says its Parcel Collect service will help people who can't face the queues in the post office, and reckons it’s the biggest change to the service since the launch of the post box in 1852.
","url":"https://multiply.ghost.io/uk-keeps-borrowing/","uuid":"503e4d09-7244-4277-b4fc-cc68aaeb66f5","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f8ffd3fd8dbae0039ff1945"}},{"node":{"id":"Ghost__Post__5f8ea21360103c0039f58a3a","title":"New hope for holidays","slug":"new-hope-for-holidays","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-11.png","excerpt":"From today, passengers flying out of Heathrow airport can take a coronavirus test and have the results back within an hour. ","custom_excerpt":"From today, passengers flying out of Heathrow airport can take a coronavirus test and have the results back within an hour. ","created_at_pretty":"20 October, 2020","published_at_pretty":"20 October, 2020","updated_at_pretty":"20 October, 2020","created_at":"2020-10-20T08:38:43.000+00:00","published_at":"2020-10-20T08:40:11.000+00:00","updated_at":"2020-10-20T08:40:11.000+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"}],"plaintext":"The 1-minute read to get the money news you need.\n\n1-hour corona test\nFrom today, passengers flying out of Heathrow airport can take a coronavirus\ntest [https://uk.reuters.com/article/idUKKBN2742X4] and have the results back\nwithin an hour. The rapid tests will allow people to enter countries where you\nneed a negative test result to skip quarantine. They cost £80 and must be booked\nin advance.\n\nCredit card rip off\nRetailers have accused Visa and Mastercard of cashing in on the coronavirus\ncrisis by charging excessive fees [https://www.bbc.co.uk/news/business-54606252] \non card transactions. Retail groups have complained that fees have doubled in\nthe last 2 years. And they feel even steeper right now, when many shops can only\ntake card payments.\n\nBrits want politics\nBook sales show people are ditching celeb autobiographies in favour of juicy\npolitical memoirs. Michelle Obama, Boris Johnson and others are keeping tills\nbusy\n[https://inews.co.uk/news/business/sales-tell-all-autobiographies-katie-price-falling-juicy-political-memoirs-michelle-obama-731060] \nwith their behind-the-scenes accounts of modern politics. Meanwhile, celeb\nmemoir sales have almost halved in the last 10 years. \n\nMonzo Premium\nThe digital bank has launched its latest paid offering\n[https://www.theguardian.com/money/2020/oct/20/monzo-launches-180-a-year-premium-account-despite-downturn?CMP=Share_iOSApp_Other]\n. A Monzo Premium account costs £180 a year and offers perks like travel\ninsurance, free overseas withdrawals, and a metal card. Premium customers can\nalso earn 1.5% on savings balances up to £2,000.","html":"The 1-minute read to get the money news you need.
From today, passengers flying out of Heathrow airport can take a coronavirus test and have the results back within an hour. The rapid tests will allow people to enter countries where you need a negative test result to skip quarantine. They cost £80 and must be booked in advance.
Retailers have accused Visa and Mastercard of cashing in on the coronavirus crisis by charging excessive fees on card transactions. Retail groups have complained that fees have doubled in the last 2 years. And they feel even steeper right now, when many shops can only take card payments.
Book sales show people are ditching celeb autobiographies in favour of juicy political memoirs. Michelle Obama, Boris Johnson and others are keeping tills busy with their behind-the-scenes accounts of modern politics. Meanwhile, celeb memoir sales have almost halved in the last 10 years.
The digital bank has launched its latest paid offering. A Monzo Premium account costs £180 a year and offers perks like travel insurance, free overseas withdrawals, and a metal card. Premium customers can also earn 1.5% on savings balances up to £2,000.
","url":"https://multiply.ghost.io/new-hope-for-holidays/","uuid":"d266c857-a4fe-4956-ac6d-cda8ae336dbc","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f8ea21360103c0039f58a3a"}},{"node":{"id":"Ghost__Post__5f8d4bd84a44be0039599e67","title":"China's back in business","slug":"china-business","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply-minute-10.png","excerpt":"The world’s second largest economy is recovering after its battle with coronavirus.","custom_excerpt":"The world’s second largest economy is recovering after its battle with coronavirus.","created_at_pretty":"19 October, 2020","published_at_pretty":"19 October, 2020","updated_at_pretty":"19 October, 2020","created_at":"2020-10-19T08:18:32.000+00:00","published_at":"2020-10-19T08:20:58.000+00:00","updated_at":"2020-10-19T08:20:58.000+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"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nChina bounces back\nThe world’s second largest economy is recovering\n[https://www.bbc.co.uk/news/business-54594877] after its battle with\ncoronavirus. China’s GDP grew by 4.9% from July to September - slightly less\nthan economists predicted, but a huge uplift from its first ever decline at the\nstart of the year.\n\nRecord asking prices\nAsking prices of homes coming onto the market has hit a new high\n[https://www.theguardian.com/money/2020/oct/19/average-asking-price-for-homes-in-britain-hits-record-high]\n, according to Rightmove. Sellers are asking for 1.1% more now than they were\nlast month, on average. The biggest price rises have been at the pricier end of\nthe market, with price tags on four-bed and detached houses now 2% higher than\nlast month.\n\nTrainer shortage\nShops could run out of comfy stuff\n[https://www.theguardian.com/business/2020/oct/18/uk-could-face-shortage-of-trainers-and-leisurewear-as-covid-fuels-surge-in-demand]\n, with sales of trainers, leggings, trackie bottoms, and hoodies all booming\nover lockdown. Brands are struggling to replace stock, after many factories were\nforced to close for months.\n\nHelp with bills\nVulnerable customers who struggle to pay their energy bills will get extra help\nthis winter. From 15th December, energy suppliers will be required to offer\nemergency credit [https://www.bbc.co.uk/news/business-54593185] to customers who\ncan’t top up prepayment meters.\n\nBrace for Brexit\nBoris Johnson has warned UK businesses to step up their prep\n[https://inews.co.uk/news/politics/brexit-no-deal-trade-talks-european-union-boris-johnson-businesses-729757] \nfor a no-deal Brexit. Companies will also hear from HMRC about new customs and\ntax rules that will come into effect on 1st January. Trade talks are still going\non, but the clock is ticking on the transition period which ends on 31st\nDecember.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The world’s second largest economy is recovering after its battle with coronavirus. China’s GDP grew by 4.9% from July to September - slightly less than economists predicted, but a huge uplift from its first ever decline at the start of the year.
Asking prices of homes coming onto the market has hit a new high, according to Rightmove. Sellers are asking for 1.1% more now than they were last month, on average. The biggest price rises have been at the pricier end of the market, with price tags on four-bed and detached houses now 2% higher than last month.
![](\"https://multiply.ghost.io/content/images/2020/10/image-7.png\")
Shops could run out of comfy stuff, with sales of trainers, leggings, trackie bottoms, and hoodies all booming over lockdown. Brands are struggling to replace stock, after many factories were forced to close for months.
Vulnerable customers who struggle to pay their energy bills will get extra help this winter. From 15th December, energy suppliers will be required to offer emergency credit to customers who can’t top up prepayment meters.
Boris Johnson has warned UK businesses to step up their prep for a no-deal Brexit. Companies will also hear from HMRC about new customs and tax rules that will come into effect on 1st January. Trade talks are still going on, but the clock is ticking on the transition period which ends on 31st December.
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