![](\"https://multiply.ghost.io/content/images/2020/08/image-6.png\")
The 1-minute read to get the money news you need with expert adviser commentary.
50 of the UK’s biggest employers are not planning to return their staff to the office in the near future, according to a survey by the BBC. The news comes as many smaller businesses are choosing to abandon offices altogether. Many city centre businesses like coffee shops, which depend on office workers for trade, have seen huge drops in customer numbers. It’s not yet clear what city centres will look like after the pandemic, but it seems likely that there will be permanent changes in the years to come.
Adviser comment: Working from home has been a blessing for some and a tough time for others. With the potential of this continuing for a significant amount of time it is worth looking at what you do with the money being saved from travel costs and if you are anything like me, eating out. This money could now be redirected to making sure your emergency fund is in place or putting towards your goals. Make the best of the situation and look to improve your situation where you can.
Changes in our behaviour caused by the pandemic have led to a substantial drop in the UK’s carbon emissions, according to a report by Carbon Trust. The estimated size of the change is equivalent to the emissions produced by the city of Nottingham for an entire year. The difference has been caused by the reduction in travel, but also by decreased spending on clothes. Unfortunately, analysis published recently suggests that the difference will not have a significant impact on climate change.
Oil prices in the US have surged as producers awaiting Hurricane Laura shutdown production. The imminent arrival of the hurricane, which is expected to have wind speeds of up to 115 miles per hour, has led the rate of crude oil production to fall to levels not seen since Hurricane Katrina. Oil prices had previously reached historic lows in April, driven by the impact of the pandemic on global transport.
After four years with no new cases, Africa has been declared free of wild polio. The last stage of combating the disease involved a programme of immunisation and monitoring in Northern Nigeria, where the last cases were reported. The news means that the virus can only now be found in Pakistan and Afghanistan. While there are ongoing attempts to vaccinate people in these countries, the campaign has been hampered by attacks on health workers and insecurity in the region.
","url":"https://multiply.ghost.io/no-return-to-the-office-for-many/","uuid":"9383c5be-7109-43ad-809a-4fbbb6934c6b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f4645ccc2a21a0039025cff"}},{"node":{"id":"Ghost__Post__5f44d99ae6ea66003956b096","title":"COVID treatment optimism boosts markets","slug":"covid-treatment-optimism-boosts-markets","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply_minute--2-.png","excerpt":"Global financial markets have rallied strongly, fuelled by optimism in medical advances that could support an economic recovery from the pandemic.","custom_excerpt":"Global financial markets have rallied strongly, fuelled by optimism in medical advances that could support an economic recovery from the pandemic.","created_at_pretty":"25 August, 2020","published_at_pretty":"25 August, 2020","updated_at_pretty":"25 August, 2020","created_at":"2020-08-25T09:27:54.000+00:00","published_at":"2020-08-25T09:31:49.000+00:00","updated_at":"2020-08-25T09:31:49.000+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":"#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\nRecord high share prices\nGlobal financial markets have rallied strongly\n[https://www.theguardian.com/business/2020/aug/24/global-stocks-rally-us-covid-treatment-approval-shares-europe-asia-trump-convalescent-plasma]\n, fuelled by optimism in medical advances that could support an economic\nrecovery from the pandemic. The US government has just approved a new treatment\nthat uses the plasma of recovered patients.\n\nTesco temps go perm\nExceptional growth in online order numbers means Tesco will create 16,000 new\npermanent jobs [https://www.bbc.co.uk/news/business-53890220]. Online orders are\nmore profitable, and now account for 16% of their sales (up from 9%). New\nshopping habits could change the face of the grocery industry - Aldi and Lidl\ndon’t offer online services, whilst Amazon is entering the market with an\nonline-only offering.\n\nNew law to protect forests\nThe UK government plans to require large businesses to prove their supply\nchains\nare free from illegal deforestation\n[https://www.bbc.co.uk/news/science-environment-53891421]. The majority of\ndeforestation in the Amazon is illegal, and it’s also responsible for 11% of\ngreenhouse gas emissions. According to environmental groups, 67% of British\nconsumers want the government to do more to tackle the issue.\n\nFirm dumps oil company stocks\nA $90bn Nordic hedge fund has dumped its stocks in oil and mining companies\n[https://www.theguardian.com/environment/2020/aug/24/major-investment-firm-dumps-exxon-chevron-and-rio-tinto-stock] \nin response to their lobbying efforts against climate action. The chief\nexecutive of Storebrand, said lobbying to undermine solutions to “the greatest\nrisks facing humanity” is “simply unacceptable”.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
Global financial markets have rallied strongly, fuelled by optimism in medical advances that could support an economic recovery from the pandemic. The US government has just approved a new treatment that uses the plasma of recovered patients.
Exceptional growth in online order numbers means Tesco will create 16,000 new permanent jobs. Online orders are more profitable, and now account for 16% of their sales (up from 9%). New shopping habits could change the face of the grocery industry - Aldi and Lidl don’t offer online services, whilst Amazon is entering the market with an online-only offering.
The UK government plans to require large businesses to prove their supply chains are free from illegal deforestation. The majority of deforestation in the Amazon is illegal, and it’s also responsible for 11% of greenhouse gas emissions. According to environmental groups, 67% of British consumers want the government to do more to tackle the issue.
A $90bn Nordic hedge fund has dumped its stocks in oil and mining companies in response to their lobbying efforts against climate action. The chief executive of Storebrand, said lobbying to undermine solutions to “the greatest risks facing humanity” is “simply unacceptable”.
","url":"https://multiply.ghost.io/covid-treatment-optimism-boosts-markets/","uuid":"50e349c8-2781-4f3f-8636-4c28480c7565","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f44d99ae6ea66003956b096"}},{"node":{"id":"Ghost__Post__5f438e598703f00039628d11","title":"Travel industry approaches a critical point","slug":"travel-industry-approaches-a-critical-point","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply_minute.png","excerpt":"The Association of British Travel Agents (ABTA) warned that more job losses were on the way as the government's furlough scheme is phased out, unless new support measures are introduced.","custom_excerpt":"The Association of British Travel Agents (ABTA) warned that more job losses were on the way as the government's furlough scheme is phased out, unless new support measures are introduced.","created_at_pretty":"24 August, 2020","published_at_pretty":"24 August, 2020","updated_at_pretty":"24 August, 2020","created_at":"2020-08-24T09:54:33.000+00:00","published_at":"2020-08-24T09:59:04.000+00:00","updated_at":"2020-08-24T09:59:04.000+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":"Mike Curtis","slug":"mike","bio":null,"profile_image":"https://multiply.ghost.io/content/images/2019/12/headshot.jpg","twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Mike Curtis","slug":"mike","bio":null,"profile_image":"https://multiply.ghost.io/content/images/2019/12/headshot.jpg","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\nTravel industry approaches a critical point\nThe Association of British Travel Agents (ABTA) warned that more job losses\nwere\non the way [https://www.bbc.co.uk/news/world-53881212] as the government's\nfurlough scheme is phased out, unless new support measures are introduced. They\nhave put forward a package including measures such as a temporary suspension of\nAir Passenger Duty for next summer. So far this year, about 65% of travel firms\nhave had to make redundancies or start a consultation process. STA Travel, an\nagency aimed primarily at young people and students stopped trading on Friday.\n\nEviction ban gets extended\nFollowing the fears that hundreds of thousands could lose their homes, the\neviction ban in England and Wales has been extended\n[https://www.bbc.co.uk/news/business-53851945] until 20 September. A survey by\nhomelessness charity Shelter suggested that more than 170,000 private tenants\nhave been threatened with eviction by their landlord or letting agent, and\n230,000 in England have fallen into arrears since the pandemic started.\n\nAdviser Comment: This is good news for people who have lost notable levels of\nincome, but it is still important that you keep in contact with your landlord\nand have an open conversation. Many landlords understand that this is a\ndifficult time and are willing to work with you, but unexpected arrears and\nsilence can also be worrying for them.'\n\nJohn Lewis to rework its pledge\nThe partnership is planning to replace its famous \"never knowingly undersold\"\npromise [https://www.bbc.co.uk/news/business-53881214] to match rivals' prices\nas its new boss plans radical changes to the business. Since 1925, John Lewis\nhas promised to refund the difference in price, to any shopper who could find an\nitem cheaper elsewhere within 28 days. The promise has become harder to defend\nas competition from online retailers has become ever tougher.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The Association of British Travel Agents (ABTA) warned that more job losses were on the way as the government's furlough scheme is phased out, unless new support measures are introduced. They have put forward a package including measures such as a temporary suspension of Air Passenger Duty for next summer. So far this year, about 65% of travel firms have had to make redundancies or start a consultation process. STA Travel, an agency aimed primarily at young people and students stopped trading on Friday.
Following the fears that hundreds of thousands could lose their homes, the eviction ban in England and Wales has been extended until 20 September. A survey by homelessness charity Shelter suggested that more than 170,000 private tenants have been threatened with eviction by their landlord or letting agent, and 230,000 in England have fallen into arrears since the pandemic started.
Adviser Comment: This is good news for people who have lost notable levels of income, but it is still important that you keep in contact with your landlord and have an open conversation. Many landlords understand that this is a difficult time and are willing to work with you, but unexpected arrears and silence can also be worrying for them.'
The partnership is planning to replace its famous \"never knowingly undersold\" promise to match rivals' prices as its new boss plans radical changes to the business. Since 1925, John Lewis has promised to refund the difference in price, to any shopper who could find an item cheaper elsewhere within 28 days. The promise has become harder to defend as competition from online retailers has become ever tougher.
","url":"https://multiply.ghost.io/travel-industry-approaches-a-critical-point/","uuid":"38771078-94cb-4ffe-bdbd-e91e817790a2","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f438e598703f00039628d11"}},{"node":{"id":"Ghost__Post__5f3f7e5d8c4f6d003920174a","title":"Government debt hits £2 trillion","slug":"government-debt-hits-2-trillion","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-13.png","excerpt":"The government now owes more than £2 trillion for the first time ever, up £226.7 billion since last summer.","custom_excerpt":"The government now owes more than £2 trillion for the first time ever, up £226.7 billion since last summer.","created_at_pretty":"21 August, 2020","published_at_pretty":"21 August, 2020","updated_at_pretty":"21 August, 2020","created_at":"2020-08-21T07:57:17.000+00:00","published_at":"2020-08-21T08:26:31.000+00:00","updated_at":"2020-08-21T08:26:31.000+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\nGovernment debt\nThe government now owes more than £2 trillion\n[https://www.bbc.co.uk/news/business-53859299] for the first time ever, up\n£226.7 billion since last summer. Debt is now equal to 100.5% of GDP - it’s the\nfirst time we’ve tipped over 100% since 1961. The government has had to borrow a\nlot to support the economy throughout the coronavirus crisis, but it’s reducing\nnow that expensive projects such as the furlough scheme are being withdrawn.\n\nUnpaid bills\n1 in 9 people have been struggling to keep up\n[https://news.sky.com/story/coronavirus-6-million-people-fall-behind-on-household-bills-due-to-covid-19-study-finds-12053444] \nwith household bills during lockdown, according to Citizens Advice. The charity\nhas warned that getting into arrears could lead to a spiral of debt, unless the\ngovernment steps in to give extra financial support. It has suggested the cost\ncould be shared between individuals, their creditors, and the government.\n\nRead more about dealing with debt\n[https://multiply-blog.appspot.com/debt-series-1-dealing-with-debt-in-a-pandemic/]\n.\n\nMore holiday quarantine\nCroatia and Austria have been added to the quarantine list\n[https://inews.co.uk/news/croatia-quarantine-uk-travel-list-austria-coronavirus-cases-portugal-air-bridge-exemption-584299]\n, prompting a dash back to the UK for people on holiday there. But good news for\nanyone in Portugal, which has now been exempted from the 14-day self isolation\nperiod.\n\nBoozers on the rocks\nThe nightlife industry has warned it’s facing “financial armageddon”\n[https://www.theguardian.com/business/2020/aug/20/uk-nightlife-industry-facing-financial-armageddon] \nwith 754,000 job at risk. Nightclubs in small towns have been hit hardest. The\nNight Time Industries Association (NTIA) wants support from the government akin\nto the “eat out to help out” scheme.\n\nShake it off\nTaylor Swift has given £23k [https://www.bbc.co.uk/news/uk-53857694] to a\nstudent struggling to get the money together to go to uni. Vitoria Mario started\nan online fundraising page after finding out she’s not eligible for any grants\nor loans - the singer came across the page and decided to make dreams come true.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The government now owes more than £2 trillion for the first time ever, up £226.7 billion since last summer. Debt is now equal to 100.5% of GDP - it’s the first time we’ve tipped over 100% since 1961. The government has had to borrow a lot to support the economy throughout the coronavirus crisis, but it’s reducing now that expensive projects such as the furlough scheme are being withdrawn.
1 in 9 people have been struggling to keep up with household bills during lockdown, according to Citizens Advice. The charity has warned that getting into arrears could lead to a spiral of debt, unless the government steps in to give extra financial support. It has suggested the cost could be shared between individuals, their creditors, and the government.
Read more about dealing with debt.
Croatia and Austria have been added to the quarantine list, prompting a dash back to the UK for people on holiday there. But good news for anyone in Portugal, which has now been exempted from the 14-day self isolation period.
The nightlife industry has warned it’s facing “financial armageddon” with 754,000 job at risk. Nightclubs in small towns have been hit hardest. The Night Time Industries Association (NTIA) wants support from the government akin to the “eat out to help out” scheme.
Taylor Swift has given £23k to a student struggling to get the money together to go to uni. Vitoria Mario started an online fundraising page after finding out she’s not eligible for any grants or loans - the singer came across the page and decided to make dreams come true.
","url":"https://multiply.ghost.io/government-debt-hits-2-trillion/","uuid":"a61ad450-426d-4d1d-aaa3-7d3cdce99daa","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f3f7e5d8c4f6d003920174a"}},{"node":{"id":"Ghost__Post__5f3e2e64f0f8cf0039a1ea4d","title":"Apple’s $2 trillion valuation","slug":"apples-2-trillion-valuation","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-12.png","excerpt":"Apple has become the first US company to be valued at $2 trillion on the stock market, having doubled its value in just two years.","custom_excerpt":"Apple has become the first US company to be valued at $2 trillion on the stock market, having doubled its value in just two years.","created_at_pretty":"20 August, 2020","published_at_pretty":"20 August, 2020","updated_at_pretty":"20 August, 2020","created_at":"2020-08-20T08:03:48.000+00:00","published_at":"2020-08-20T08:42:53.000+00:00","updated_at":"2020-08-20T08:42:53.000+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":"#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\nApple hits $2 trillion\nApple has become the first US company to be valued at $2 trillio\n[https://www.bbc.co.uk/news/business-53840471]n on the stock market, having\ndoubled its value in just two years. The tech giant has seen its sales continue\nto grow this year, despite shutting its shops throughout lockdown.\n\nQuarantine-free trips?\nHeathrow has a new rapid testing centre\n[https://www.theguardian.com/travel/2020/aug/19/heathrow-rapid-covid-test-centre-could-replace-quarantine] \nwhich can tell passengers their Covid status within 24 hours of landing. It’s\nwaiting for the government green light, and could replace the 14-day quarantine\nthat’s in place for some countries. The test is currently optional and costs\n£150, but that could be reduced to £50 with a government subsidy.\n\nAll about the ‘burbs\nLondoners are spending their time and money in the suburbs\n[https://www.theguardian.com/business/2020/aug/19/suburbs-lead-londons-economic-recovery-while-city-centre-struggles] \nrather than the centre, as much of the city’s workforce continues to work from\nhome. Shops, restaurants, and pubs further out are driving London’s economic\nrecovery, according to Mastercard’s data. It means local centres are thriving -\nSouthall is in the lead, where restaurants are doing 17% better than in January.\n\nCash for deferrals\nDurham University has promised a special bursary plus guaranteed accommodation\nto would-be undergraduates who defer their place until 2021\n[https://www.bbc.co.uk/news/uk-england-tyne-53840379]. It’s struggling to find\nenough space for all the offer-holders who’ve now got the grades to go.\n\nStubHub “misleading”\nStubHub has been forced to add warnings to its website that the tickets it’s\nselling could be invalid\n[https://www.theguardian.com/money/2020/aug/19/stubhub-forced-to-add-warning-that-resold-tickets-might-be-invalid]\n. The ticket resale company was found to be misleading customers about the fact\nthat they might not be able to use the tickets they buy.","html":"The 1-minute read to get the money news you need.
Apple has become the first US company to be valued at $2 trillion on the stock market, having doubled its value in just two years. The tech giant has seen its sales continue to grow this year, despite shutting its shops throughout lockdown.
Heathrow has a new rapid testing centre which can tell passengers their Covid status within 24 hours of landing. It’s waiting for the government green light, and could replace the 14-day quarantine that’s in place for some countries. The test is currently optional and costs £150, but that could be reduced to £50 with a government subsidy.
Londoners are spending their time and money in the suburbs rather than the centre, as much of the city’s workforce continues to work from home. Shops, restaurants, and pubs further out are driving London’s economic recovery, according to Mastercard’s data. It means local centres are thriving - Southall is in the lead, where restaurants are doing 17% better than in January.
Durham University has promised a special bursary plus guaranteed accommodation to would-be undergraduates who defer their place until 2021. It’s struggling to find enough space for all the offer-holders who’ve now got the grades to go.
StubHub has been forced to add warnings to its website that the tickets it’s selling could be invalid. The ticket resale company was found to be misleading customers about the fact that they might not be able to use the tickets they buy.
","url":"https://multiply.ghost.io/apples-2-trillion-valuation/","uuid":"b0b4b022-0e4b-41cb-ab09-8f5fc82a8d5f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f3e2e64f0f8cf0039a1ea4d"}},{"node":{"id":"Ghost__Post__5f3cd5c8f0f8cf0039a1ea2b","title":"Haircuts and dentists get pricier","slug":"haircuts-and-dentists-get-pricier","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-11.png","excerpt":"The rate of inflation jumped to 1% in July as the economy gradually reopened.","custom_excerpt":"The rate of inflation jumped to 1% in July as the economy gradually reopened.","created_at_pretty":"19 August, 2020","published_at_pretty":"19 August, 2020","updated_at_pretty":"19 August, 2020","created_at":"2020-08-19T07:33:28.000+00:00","published_at":"2020-08-19T07:41:00.000+00:00","updated_at":"2020-08-19T07:55:28.000+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":"#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\nInflation rises\nThe rate of inflation jumped to 1%\n[https://www.bbc.co.uk/news/business-53831815] in July as the economy gradually\nreopened, up from 0.6% in June. The Office for National Statistics (ONS) says\nthe boost was driven by rising petrol and clothing prices. Private dental\ntreatment, physiotherapy and haircuts also got more expensive, because of the\nextra costs of buying PPE.\n\nBank of Granny and Grandad\nGrandparents can’t give as much help\n[https://www.telegraph.co.uk/property/buy/first-time-buyers-lose-bank-grandma-grandad-cuts-generous-supply/]\n* with getting onto the property ladder, because the coronavirus crisis has hit\ntheir pension savings. Around 8% of first-time buyers get help from the Bank of\nGranny and Grandad (we’re gonna call it: BOGAG), which stumped up £630 million\nin 2019. But now many retirees have had to dip into savings they would otherwise\nhave passed on to younger generations.\n\nUnis need money\nUniversities have told the government that some will need extra funding\n[https://inews.co.uk/news/education/a-level-results-2020-universities-concerns-financial-hit-582647] \nto stay afloat. Along with its decision to use teacher-predicted grades for\nA-level results, the government has lifted the cap on how many students each\nuniversity can recruit. Unis are now worried about overcrowding at more\nselective institutions, and empty lecture halls in the others.\n\nGreen streets\nThe UK’s most eco shopping street has been named as Saint Andrews Street in\nCambridge\n[https://inews.co.uk/news/consumer/shopping-high-street-cambridge-environment-eco-friendly-582520]\n. It scored highest for eco-friendly credentials like recycling facilities,\ncharging points for electric cars, green spaces, vegan restaurants, and charity\nshops. The least green street? Commercial Way in Woking.\n\n*this article might need a subscription to read.","html":"The 1-minute read to get the money news you need with expert adviser commentary.
The rate of inflation jumped to 1% in July as the economy gradually reopened, up from 0.6% in June. The Office for National Statistics (ONS) says the boost was driven by rising petrol and clothing prices. Private dental treatment, physiotherapy and haircuts also got more expensive, because of the extra costs of buying PPE.
![](\"https://multiply.ghost.io/content/images/2020/08/image-5.png\")
Grandparents can’t give as much help* with getting onto the property ladder, because the coronavirus crisis has hit their pension savings. Around 8% of first-time buyers get help from the Bank of Granny and Grandad (we’re gonna call it: BOGAG), which stumped up £630 million in 2019. But now many retirees have had to dip into savings they would otherwise have passed on to younger generations.
Universities have told the government that some will need extra funding to stay afloat. Along with its decision to use teacher-predicted grades for A-level results, the government has lifted the cap on how many students each university can recruit. Unis are now worried about overcrowding at more selective institutions, and empty lecture halls in the others.
The UK’s most eco shopping street has been named as Saint Andrews Street in Cambridge. It scored highest for eco-friendly credentials like recycling facilities, charging points for electric cars, green spaces, vegan restaurants, and charity shops. The least green street? Commercial Way in Woking.
*this article might need a subscription to read.
","url":"https://multiply.ghost.io/haircuts-and-dentists-get-pricier/","uuid":"e08763b3-19e2-4f0a-82fb-0c6316db9e4a","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f3cd5c8f0f8cf0039a1ea2b"}},{"node":{"id":"Ghost__Post__5f3b8cc2f0f8cf0039a1e9de","title":"M&S downsizing","slug":"m-s-downsizing","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-10.png","excerpt":"Marks & Spencer will cut 7,000 jobs over the next 3 month across its shops and head office.","custom_excerpt":"Marks & Spencer will cut 7,000 jobs over the next 3 month across its shops and head office.","created_at_pretty":"18 August, 2020","published_at_pretty":"18 August, 2020","updated_at_pretty":"18 August, 2020","created_at":"2020-08-18T08:09:38.000+00:00","published_at":"2020-08-18T08:19:50.000+00:00","updated_at":"2020-08-18T08:56:35.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nM&S cuts jobs\nMarks & Spencer will cut 7,000 jobs\n[https://www.bbc.co.uk/news/business-53817598] over the next 3 months across its\nshops and head office. The high-street retailer has seen its in-store sales take\na hit during the coronavirus crisis, although it says its delivery business is\nstrong.\n\nA-levels U-turn\nStudents who missed out on university offers due to their downgraded A-levels \nmay now be able to go [https://www.bbc.co.uk/news/uk-53815089] after all.\nYesterday, the government said students’ results would be based on the grades\npredicted by teachers. What does this mean for uni places? Not sure yet.\nAlistair Jarvis, chief executive of Universities UK, has called for \"urgent\nclarification\".\n\nFlight bookings drop\nRyanair has cancelled 1 in 5 flights\n[https://www.theguardian.com/business/2020/aug/17/ryanair-cancels-fifth-flights-quarantine-restrictions-bookings] \nscheduled for September and October, after its bookings started to fall.\nQuarantine restrictions have been re-imposed for European countries, including\nSpain and France, giving would-be holidaymakers the jitters.\n\nHL sitting on cash\nHargreaves Lansdown has come under pressure to return uninvested money to\ncustomers, after sitting on it\n[https://www.thetimes.co.uk/article/hargreaves-lansdown-accused-of-client-cash-rip-off-tbjxvd92j]\n* for months. The UK’s largest investment platform has seen its cash pile grow\nby £2.5 billion after investors sell out of funds but haven’t withdrawn. What’s\nthe problem? The platform is still earning interest on the cash - but customers\naren’t.\n\nSupermarkets speak out\nThe grocery store bosses who battled to keep food on the shelves throughout the\npre-lockdown panic buying have told how it was “touch and go”\n[https://www.telegraph.co.uk/business/2020/08/18/just-incredibly-touch-and-go-supermarkets-kept-food-shelves/]\n* for around 10 days in March. The danger was not that food itself might run\nout, simply that supermarkets could not get it on the shelves fast enough to\nmatch demand.\n\n*this article may need a subscription to read.","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
Marks & Spencer will cut 7,000 jobs over the next 3 months across its shops and head office. The high-street retailer has seen its in-store sales take a hit during the coronavirus crisis, although it says its delivery business is strong.
Students who missed out on university offers due to their downgraded A-levels may now be able to go after all. Yesterday, the government said students’ results would be based on the grades predicted by teachers. What does this mean for uni places? Not sure yet. Alistair Jarvis, chief executive of Universities UK, has called for \"urgent clarification\".
Ryanair has cancelled 1 in 5 flights scheduled for September and October, after its bookings started to fall. Quarantine restrictions have been re-imposed for European countries, including Spain and France, giving would-be holidaymakers the jitters.
Hargreaves Lansdown has come under pressure to return uninvested money to customers, after sitting on it* for months. The UK’s largest investment platform has seen its cash pile grow by £2.5 billion after investors sell out of funds but haven’t withdrawn. What’s the problem? The platform is still earning interest on the cash - but customers aren’t.
![](\"https://multiply.ghost.io/content/images/2020/08/image-3.png\")
The grocery store bosses who battled to keep food on the shelves throughout the pre-lockdown panic buying have told how it was “touch and go”* for around 10 days in March. The danger was not that food itself might run out, simply that supermarkets could not get it on the shelves fast enough to match demand.
*this article may need a subscription to read.
","url":"https://multiply.ghost.io/m-s-downsizing/","uuid":"d52aa540-10a7-497c-a335-ba1415efa44d","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f3b8cc2f0f8cf0039a1e9de"}},{"node":{"id":"Ghost__Post__5f3a5555f0f8cf0039a1e9bb","title":"Record-breaking home sales","slug":"untitled-18","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-9.png","excerpt":"The number of homes bought and sold in the UK hit a new high between mid-July and mid-August.","custom_excerpt":"The number of homes bought and sold in the UK hit a new high between mid-July and mid-August.","created_at_pretty":"17 August, 2020","published_at_pretty":"17 August, 2020","updated_at_pretty":"17 August, 2020","created_at":"2020-08-17T10:00:53.000+00:00","published_at":"2020-08-17T10:07:05.000+00:00","updated_at":"2020-08-17T10:07:20.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nHousing market breaks record\nThe number of homes bought and sold in the UK hit a new high\n[https://uk.reuters.com/article/us-health-coronavirus-britain-houseprice/british-home-sales-hit-record-after-lockdown-rightmove-says-idUKKCN25C0WO] \nbetween mid-July and mid-August. Rightmove reported the new record and says it’s\n20% higher than the previous figure, based on agreed home sales in the last 10\nyears. We’re seeing the release of pent-up demand following lockdown, helped\nalong by the stamp duty cut.\n\nSecond self-employed grant\nClaims are now open [https://www.bbc.co.uk/news/business-53783797] for the\nsecond round of the self-employment income support scheme. Anyone who usually\nearns more than half their income from self-employment can apply for the\ngovernment grant of up to £6,570.\n\nEthical investing?\n“Sustainable” investment funds have been criticised for holding large shares in\nUS tech giants [https://www.ft.com/content/ea295d51-d5c2-4916-8c63-017c352ea577]\n. The top 10 sustainable funds in the US have 17% of investments in Faang stocks\n(Facebook, Amazon, Apple, Netflix and Google), which are under fire for issues\nsuch as data privacy and unfair labour practices. \n\nA-levels below average\nThe A-level grades awarded to sixth form students this year are below the\naverage [https://www.bbc.co.uk/news/education-53799860] for the last 3 years,\naccording to new analysis by the Sixth Form Colleges Association. This year’s\nsystem used an algorithm to determine students’ results, and almost 40% of\ngrades awarded were lower than teachers' predictions.\n\nSpreading in ‘Spoons?\nCheap pints may come with added risk this summer. Wetherspoon pubs have been\ncriticised for not social distancing\n[https://www.theguardian.com/business/2020/aug/16/fears-overcrowding-in-wetherspoon-pubs-may-lead-to-covid-19-spike]\n, and failing to get customers’ details for track and trace. Health experts are\nworried that pubs are a breeding ground for the next surge in coronavirus. The\npub chain insists it’s making “strenuous efforts” to comply with regulations.","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
The number of homes bought and sold in the UK hit a new high between mid-July and mid-August. Rightmove reported the new record and says it’s 20% higher than the previous figure, based on agreed home sales in the last 10 years. We’re seeing the release of pent-up demand following lockdown, helped along by the stamp duty cut.
Claims are now open for the second round of the self-employment income support scheme. Anyone who usually earns more than half their income from self-employment can apply for the government grant of up to £6,570.
“Sustainable” investment funds have been criticised for holding large shares in US tech giants. The top 10 sustainable funds in the US have 17% of investments in Faang stocks (Facebook, Amazon, Apple, Netflix and Google), which are under fire for issues such as data privacy and unfair labour practices.
![](\"https://multiply.ghost.io/content/images/2020/08/image-2.png\")
The A-level grades awarded to sixth form students this year are below the average for the last 3 years, according to new analysis by the Sixth Form Colleges Association. This year’s system used an algorithm to determine students’ results, and almost 40% of grades awarded were lower than teachers' predictions.
Cheap pints may come with added risk this summer. Wetherspoon pubs have been criticised for not social distancing, and failing to get customers’ details for track and trace. Health experts are worried that pubs are a breeding ground for the next surge in coronavirus. The pub chain insists it’s making “strenuous efforts” to comply with regulations.
","url":"https://multiply.ghost.io/untitled-18/","uuid":"bc1b9498-c289-4a74-ab54-87707e16d9f1","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f3a5555f0f8cf0039a1e9bb"}},{"node":{"id":"Ghost__Post__5f364a2cf15a21003993b96e","title":"Let's go bowling","slug":"lets-go-bowling","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-8.png","excerpt":"From Saturday, casinos, bowling alleys and soft play centres can reopen.","custom_excerpt":"From Saturday, casinos, bowling alleys and soft play centres can reopen.","created_at_pretty":"14 August, 2020","published_at_pretty":"14 August, 2020","updated_at_pretty":"14 August, 2020","created_at":"2020-08-14T08:24:12.000+00:00","published_at":"2020-08-14T09:18:01.000+00:00","updated_at":"2020-08-14T09:28:59.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nLockdown eases tomorrow\nFrom Saturday, live indoor performances and small wedding receptions will be\nallowed, and casinos, bowling alleys and soft play centres can reopen. But\nyou’ll need to wear a mask [https://www.bbc.co.uk/news/uk-53772735]. The £100\nfine for failing to wear one can now be doubled for each time you’re caught - up\nto a maximum of £3,200.\n\nQuarantine list\nFrance and the Netherlands have been added to the quarantine list\n[https://www.cityam.com/france-and-the-netherlands-placed-on-quarantine-list/].\nFrom 4am tomorrow, anyone arriving in the UK from either country will need to\nself-isolate for 14 days. For the thousands of people currently on holiday\nthere, that doesn’t leave much time to get home.\n\nMore job vacancies\nThere are 1.1 million live job vacancies\n[https://www.telegraph.co.uk/business/2020/08/13/job-vacancies-climb-companies-begin-re-hiring/]\n* in the UK right now, with 125,000 added in the last week, the Recruitment and\nEmployment Confederation (REC) reckons. Online job ads currently stand at 62% of\ntheir 2019 level, a big bounce from the low point in May. Who’s in demand?\nBuilders, gardeners, lorry drivers, childminders - and debt collectors.\n\nExtend loan freezes\nInterest-free overdrafts and loan freezes should be extended until January 2021\n[https://uk.reuters.com/article/uk-health-coronavirus-britain-financial/extend-loan-repayment-freezes-until-2021-uk-consumer-group-which-says-idUKKCN25938L] \nto help people struggling to make repayments, according to consumer group\nWhich?. Its research shows furloughed workers are three times more likely to\nhave missed a payment in the last month. Millions of households are facing tough\ntimes once the furlough scheme ends in October.\n\n*this article might need a subscription to read","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
From Saturday, live indoor performances and small wedding receptions will be allowed, and casinos, bowling alleys and soft play centres can reopen. But you’ll need to wear a mask. The £100 fine for failing to wear one can now be doubled for each time you’re caught - up to a maximum of £3,200.
France and the Netherlands have been added to the quarantine list. From 4am tomorrow, anyone arriving in the UK from either country will need to self-isolate for 14 days. For the thousands of people currently on holiday there, that doesn’t leave much time to get home.
![](\"https://multiply.ghost.io/content/images/2020/08/image-1.png\")
There are 1.1 million live job vacancies* in the UK right now, with 125,000 added in the last week, the Recruitment and Employment Confederation (REC) reckons. Online job ads currently stand at 62% of their 2019 level, a big bounce from the low point in May. Who’s in demand? Builders, gardeners, lorry drivers, childminders - and debt collectors.
Interest-free overdrafts and loan freezes should be extended until January 2021 to help people struggling to make repayments, according to consumer group Which?. Its research shows furloughed workers are three times more likely to have missed a payment in the last month. Millions of households are facing tough times once the furlough scheme ends in October.
*this article might need a subscription to read
","url":"https://multiply.ghost.io/lets-go-bowling/","uuid":"86705bf2-3898-4a8a-9ba2-af07f7728def","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f364a2cf15a21003993b96e"}},{"node":{"id":"Ghost__Post__5f34fef6f15a21003993b95b","title":"London homes getting cheaper","slug":"london-homes-getting-cheaper","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-7.png","excerpt":"London homes are getting cheaper even though there are more buyers in the market.","custom_excerpt":"London homes are getting cheaper even though there are more buyers in the market.","created_at_pretty":"13 August, 2020","published_at_pretty":"13 August, 2020","updated_at_pretty":"13 August, 2020","created_at":"2020-08-13T08:51:02.000+00:00","published_at":"2020-08-13T08:53:25.000+00:00","updated_at":"2020-08-13T09:20:08.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nLondon house prices drop\nThe London property market has fallen out of step with the rest of the country,\nwith homes getting cheaper\n[https://www.cityam.com/london-house-prices-fall-despite-markets-coronavirus-recovery/] \neven though there are more buyers in the market. The Royal Institute of\nChartered Surveyors (RICS) survey has reported a dip in London house prices, and\nexpects them to continue falling over the next 12 months.\n\nBrexit price hikes\n60% of Brits think food will get pricier\n[https://inews.co.uk/news/brexit/brexit-trade-deal-latest-britons-clean-break-eu-push-up-prices-food-groceries-577898] \nif the UK doesn’t secure a trade deal with the EU, according to a poll by\ncampaign group Best for Britain. And they might be right. The group also\nreleased findings that the average family’s food bill could go up by £250 a year\nunder a no-deal scenario, with tariffs adding up to 30% to the price of some\nessentials.\n\nFreelancer exodus\n253,000 freelancers abandoned self-employment\n[https://www.telegraph.co.uk/tax/self-employed/quarter-million-give-freelancer-dream-return-full-time-work/]\n* and joined company payrolls between April and July. Freelancer numbers were at\na record high of 5 million at the start of the year. But economic uncertainty\ncoupled with unpopular new tax rules have pushed 15% towards the security of a\nregular paycheck.\n\nHire a Brompton\nBike maker Brompton will launch a subscription service next month, allowing\npedallers to hire a folding bike\n[https://www.theguardian.com/lifeandstyle/2020/aug/12/uk-folding-bike-maker-brompton-to-launch-subscription-service] \nfor £30 a month. That includes insurance, repairs, and servicing. Cycling has\nboomed during lockdown, with a 300% increase in people taking to the streets on\ntwo wheels in a bid to avoid public transport.","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
The London property market has fallen out of step with the rest of the country, with homes getting cheaper even though there are more buyers in the market. The Royal Institute of Chartered Surveyors (RICS) survey has reported a dip in London house prices, and expects them to continue falling over the next 12 months.
![](\"https://multiply.ghost.io/content/images/2020/08/AC-13.08.20.png\")
60% of Brits think food will get pricier if the UK doesn’t secure a trade deal with the EU, according to a poll by campaign group Best for Britain. And they might be right. The group also released findings that the average family’s food bill could go up by £250 a year under a no-deal scenario, with tariffs adding up to 30% to the price of some essentials.
253,000 freelancers abandoned self-employment* and joined company payrolls between April and July. Freelancer numbers were at a record high of 5 million at the start of the year. But economic uncertainty coupled with unpopular new tax rules have pushed 15% towards the security of a regular paycheck.
Bike maker Brompton will launch a subscription service next month, allowing pedallers to hire a folding bike for £30 a month. That includes insurance, repairs, and servicing. Cycling has boomed during lockdown, with a 300% increase in people taking to the streets on two wheels in a bid to avoid public transport.
","url":"https://multiply.ghost.io/london-homes-getting-cheaper/","uuid":"56aaab0c-147c-4b38-ab35-a2dd3e0c5720","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f34fef6f15a21003993b95b"}},{"node":{"id":"Ghost__Post__5f33b1d3b579fc0039db41a6","title":"Recession hits","slug":"recession-hits","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-6.png","excerpt":"The figures are out - we’re officially in a recession for the first time since 2009.","custom_excerpt":"The figures are out - we’re officially in a recession for the first time since 2009.","created_at_pretty":"12 August, 2020","published_at_pretty":"12 August, 2020","updated_at_pretty":"12 August, 2020","created_at":"2020-08-12T09:09:39.000+00:00","published_at":"2020-08-12T09:38:50.000+00:00","updated_at":"2020-08-12T09:38:50.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nRecession confirmed\nThe figures are out - we’ve recorded our second quarter of downturn in a row\nwhich means the UK is officially in a recession\n[https://www.bbc.co.uk/news/business-53748278] for the first time since 2009.\nThe economy shrunk by 20.4% overall from April to June. But that decline all\nhappened in April - the bounce back has already started. GDP grew slightly in\nMay and showed 8.7% growth in June.\n\nFewer first-time buyers\nThere are tens of thousands fewer first-time buyers\n[https://www.telegraph.co.uk/business/2020/08/11/first-time-buyers-find-property-ladder-even-slippery/]\n* per year than there used to be, according to new research by the Bank of\nEngland. It found that the number of people getting onto the property ladder has\ndropped by a quarter since 2006.\n\nAdviser comment: \"This could actually be good news for those first time buyers\nwho are in a position to be able to buy. If there are fewer buyers than sellers,\nthen sellers may be prepared to accept lower offers.\"\n\nNo autumn budget?\nChancellor Rishi Sunak could delay the autumn budget\n[https://www.cityam.com/second-wave-fears-rishi-sunak-could-delay-autumn-budget/] \nif we’re hit by a second wave of coronavirus. Why? He might want to put off\nannouncing measures such as tax rises or spending cuts, if we’re already dealing\nwith a spike in new cases. If that happens, the budget would be postponed to\nspring 2021, and we’d get an autumn spending review instead.","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
The figures are out - we’ve recorded our second quarter of downturn in a row which means the UK is officially in a recession for the first time since 2009. The economy shrunk by 20.4% overall from April to June. But that decline all happened in April - the bounce back has already started. GDP grew slightly in May and showed 8.7% growth in June.
There are tens of thousands fewer first-time buyers* per year than there used to be, according to new research by the Bank of England. It found that the number of people getting onto the property ladder has dropped by a quarter since 2006.
Adviser comment: \"This could actually be good news for those first time buyers who are in a position to be able to buy. If there are fewer buyers than sellers, then sellers may be prepared to accept lower offers.\"
Chancellor Rishi Sunak could delay the autumn budget if we’re hit by a second wave of coronavirus. Why? He might want to put off announcing measures such as tax rises or spending cuts, if we’re already dealing with a spike in new cases. If that happens, the budget would be postponed to spring 2021, and we’d get an autumn spending review instead.
","url":"https://multiply.ghost.io/recession-hits/","uuid":"bd1a4865-2fca-402f-91e7-344e78586d6f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5f33b1d3b579fc0039db41a6"}},{"node":{"id":"Ghost__Post__5f325605b579fc0039db415b","title":"730,000 jobs lost","slug":"730-000-lose-their-jobs","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/08/Multiply-minute-5.png","excerpt":"At the latest count, 730,000 people have been taken off company payrolls since the start of lockdown.","custom_excerpt":"At the latest count, 730,000 people have been taken off company payrolls since the start of lockdown.","created_at_pretty":"11 August, 2020","published_at_pretty":"11 August, 2020","updated_at_pretty":"11 August, 2020","created_at":"2020-08-11T08:25:41.000+00:00","published_at":"2020-08-11T08:33:22.000+00:00","updated_at":"2020-08-11T08:38:54.000+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":"Get straight to the good stuff every day with the Multiply Minute; a\nlightning-quick round-up of the money news and how it affects you.\n\nJob losses\nAt the latest count, 730,000 people have been taken off company payrolls\n[https://news.sky.com/story/coronavirus-730-000-have-lost-their-job-since-lockdown-began-12046850] \nsince the start of lockdown. The youngest and oldest workers have been worst\naffected, along with people in less skilled jobs. The new figures from the\nOffice for National Statistics (ONS) also show a 117% increase in the number of\npeople claiming benefits - now at 2.7 million - over the same time period.\n\nAdviser comment: \"We've been expecting this news, but that doesn't make it any\nless devastating for those affected. This is why it's important to have an\nemergency fund in place to help you in difficult times.\"\n\nSpending almost back to normal\nWe spent just 2.6% less than usual\n[https://uk.reuters.com/article/uk-health-coronavirus-britain-retail/uk-consumer-spending-recovers-in-july-as-pubs-and-restaurants-reopen-idUKKCN2562RB] \nlast month, according to Barclaycard and the British Retail Consortium. That’s\nthe smallest gap since lockdown began, as many shops, pubs, and restaurants\nreopened their doors in July.\n\nEat out to help out\nRestaurants and cafes have dished up 10.5 million discounts\n[https://www.bbc.co.uk/news/business-53731002] in the first week of the “eat out\nto help out” scheme. The government says diners have saved a tasty £5 per\nperson, on average. The scheme's designed to boost footfall to struggling high\nstreets.\n\nScam victims treated unfairly\nPeople who lose money through scams are being treated unfairly, and many never\nsee their cash again, according to consumer group Which?. It’s pushing for banks\nto do more to protect customers\n[https://www.theguardian.com/money/2020/aug/11/uk-banks-treating-transfer-scam-victims-unfairly-says-which]\n. Payment scams, which hack email accounts and convince people to send money to\ndodgy accounts, have soared recently.\n\nMore in the bank\nIf the UK economy slows, the Bank of England will step in\n[https://uk.reuters.com/article/uk-britain-boe-ramsden/boe-to-step-up-quantitative-easing-if-economy-slows-again-deputy-governor-says-the-times-idUKKCN2570B5] \nwith more quantitative easing. The Bank released its latest figures last week,\npredicting a recession and that unemployment could double. In an interview,\nDeputy Governor Dave Ramsden said it would accelerate support if it’s needed.","html":"Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.
At the latest count, 730,000 people have been taken off company payrolls since the start of lockdown. The youngest and oldest workers have been worst affected, along with people in less skilled jobs. The new figures from the Office for National Statistics (ONS) also show a 117% increase in the number of people claiming benefits - now at 2.7 million - over the same time period.
Adviser comment: \"We've been expecting this news, but that doesn't make it any less devastating for those affected. This is why it's important to have an emergency fund in place to help you in difficult times.\"
We spent just 2.6% less than usual last month, according to Barclaycard and the British Retail Consortium. That’s the smallest gap since lockdown began, as many shops, pubs, and restaurants reopened their doors in July.
Restaurants and cafes have dished up 10.5 million discounts in the first week of the “eat out to help out” scheme. The government says diners have saved a tasty £5 per person, on average. The scheme's designed to boost footfall to struggling high streets.
People who lose money through scams are being treated unfairly, and many never see their cash again, according to consumer group Which?. It’s pushing for banks to do more to protect customers. Payment scams, which hack email accounts and convince people to send money to dodgy accounts, have soared recently.
If the UK economy slows, the Bank of England will step in with more quantitative easing. The Bank released its latest figures last week, predicting a recession and that unemployment could double. In an interview, Deputy Governor Dave Ramsden said it would accelerate support if it’s needed.
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