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 chancellor Rishi Sunak is expected to announce new measures today to help companies pay workers, after business leaders warned that they’re on the brink of collapse. Similar action has already been taken in other European countries, where governments have stepped in to help pay wages and prevent people losing their jobs.
The Bank of England has slashed the base rate to a record low of 0.1% (paywall). That’s the second rate cut in 10 days. It also announced a £200 billion package of quantitative easing, meaning they’ll print extra new money in order to buy up government bonds and other assets. The news cheered up the FTSE 100 share index, which rose 1.5% yesterday afternoon.
Competition laws will be loosened to allow the big supermarkets to work together to keep their shelves stocked. Without the usual price competition, they’ll be able to share data, cooperate on keeping the doors open, and share depots and delivery vans.
The Co-op supermarket has said it’s creating 5,000 new jobs to help provide employment for out of work hospitality staff. It’s fast tracking applications so that successful candidates can start within days.
","url":"https://multiply.ghost.io/government-to-pay-wages/","uuid":"b37d732f-743a-40d9-87fe-f2a3321d796f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e749b6c8b637a0037ea5a8d"}},{"node":{"id":"Ghost__Post__5e734b792b6044003849f13a","title":"Pound hits 30-year low","slug":"pound-hits-30-year-low","featured":false,"feature_image":"https://images.unsplash.com/photo-1574641820089-d431bff40336?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"In a fresh wave of investor uncertainty, the value of the pound has dropped to its lowest since the 1980s.","custom_excerpt":"In a fresh wave of investor uncertainty, the value of the pound has dropped to its lowest since the 1980s.","created_at_pretty":"19 March, 2020","published_at_pretty":"19 March, 2020","updated_at_pretty":"19 March, 2020","created_at":"2020-03-19T10:37:45.000+00:00","published_at":"2020-03-19T10:39:59.000+00:00","updated_at":"2020-03-19T10:39:59.000+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\nSterling sick\nIn a fresh wave of investor uncertainty, the value of the pound has dropped to\nits lowest since the 1980s\n[https://www.cityam.com/pound-crashes-to-1980s-lows-amid-coronavirus-sell-off/].\nIt suffered one of its biggest drops on record yesterday, as traders sold off\nsterling to buy dollars. Why? The dollar is considered a “safe haven” among\nplummeting markets because it's the most widely used currency in the world and,\nin volatile times, companies need it to make payments.\n\nTighter restrictions\nMeasures to contain the epidemic have been stepped up. Schools will be closed\n[https://www.bbc.co.uk/news/education-51643556] across the UK on Friday, and 40\nstations on the London tube network are shut from this morning\n[https://www.bbc.co.uk/news/uk-england-london-51946409]. Some schools will be\nkept open to care for the children of key workers, such as NHS staff, police,\nand delivery drivers.\n\nEurope’s emergency package\nThe European Central Bank (ECB) has announced €750 billion in relief measures\n[https://www.bbc.co.uk/news/business-51955389] for struggling Eurozone\ncountries. It plans to buy up billions in government and company debt from\nGreece, Italy, and others, to ease the impact of the pandemic.\n\nCheaper council tax\nOver 10 million households in the UK could see their council tax bill drop by\n20%\n[https://www.theguardian.com/business/2020/mar/19/council-tax-reform-would-help-level-up-north-of-england]\n. The government is considering overhauling the way the tax is charged, to bring\nbills into line with property prices. Some towns could see council tax get up to\n60% cheaper.","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.
In a fresh wave of investor uncertainty, the value of the pound has dropped to its lowest since the 1980s. It suffered one of its biggest drops on record yesterday, as traders sold off sterling to buy dollars. Why? The dollar is considered a “safe haven” among plummeting markets because it's the most widely used currency in the world and, in volatile times, companies need it to make payments.
Measures to contain the epidemic have been stepped up. Schools will be closed across the UK on Friday, and 40 stations on the London tube network are shut from this morning. Some schools will be kept open to care for the children of key workers, such as NHS staff, police, and delivery drivers.
The European Central Bank (ECB) has announced €750 billion in relief measures for struggling Eurozone countries. It plans to buy up billions in government and company debt from Greece, Italy, and others, to ease the impact of the pandemic.
Over 10 million households in the UK could see their council tax bill drop by 20%. The government is considering overhauling the way the tax is charged, to bring bills into line with property prices. Some towns could see council tax get up to 60% cheaper.
","url":"https://multiply.ghost.io/pound-hits-30-year-low/","uuid":"118bbe65-7940-4f13-be4b-f8867f37cda1","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e734b792b6044003849f13a"}},{"node":{"id":"Ghost__Post__5e720ccc41ae980038602474","title":"£350 billion \"lifeline\" for economy","slug":"350-billion-lifeline-for-economy","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/03/katja-anna-krug-7w2zV03GXWY-unsplash.jpg","excerpt":"The chancellor has announced a £350 billion bundle to shore up the ailing economy.","custom_excerpt":"The chancellor has announced a £350 billion bundle to shore up the ailing economy.","created_at_pretty":"18 March, 2020","published_at_pretty":"18 March, 2020","updated_at_pretty":"18 March, 2020","created_at":"2020-03-18T11:58:04.000+00:00","published_at":"2020-03-18T12:01:51.000+00:00","updated_at":"2020-03-18T12:01:51.000+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\nCoronavirus bail out package\nThe chancellor has announced a £350 billion bundle\n[https://www.bbc.co.uk/news/business-51935467] to shore up the ailing economy.\nThe bail out includes £330 billion earmarked for state-backed loans for all\nbusinesses - that’s 15% of UK GDP. It also promises grants for pubs and\nretailers, a business rates holiday for some companies, and a mortgage holiday\nfor some homeowners. Chancellor Rishi Sunak promised the UK will get whatever it\nneeds during this \"economic emergency\" unprecedented in peacetime.\n\nMortgage holiday, you say\nBanks have said they’ll let customers delay mortgage payments for up to three\nmonths\n[https://www.theguardian.com/money/2020/mar/17/uk-banks-set-out-details-of-covid-19-mortgage-holidays]\n. Want one? You’ll have to apply, and only those in “difficulty” will be\napproved. Buy-to-let mortgages don’t appear to be included in the scheme. Taking\na three-month mortgage holiday won’t affect your credit score and you won’t risk\nyour home being repossessed. However, interest will still rack up as normal and\nfor now it’s only a short term solution.\n\nIR35 delayed\nBuried in the chancellor’s statement was the news that IR35 will be delayed\n[https://inews.co.uk/inews-lifestyle/money/ir35-changes-delayed-hmrc-postponed-tax-reforms-coronavirus-2482550]\n. The controversial tax reform was due to come into force in April, but has been\npushed back by a year. Self-employed workers have expressed relief about the\npostponement, which should make it easier to get work and get paid.\n\nPub in a box\nTrust pubs to innovate a comeback\n[https://www.cityam.com/london-brewers-launch-pub-in-a-box-for-self-isolation/] \nto the government’s latest social distancing advice. Punters who want to support\ntheir local will be able to visit East London's Signature Brew while\nself-isolating as their pub in a box includes all the usual pub comforts: pints,\nbeer mats, a quiz, and snacks. The sticky carpet is sure to follow.","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 chancellor has announced a £350 billion bundle to shore up the ailing economy. The bail out includes £330 billion earmarked for state-backed loans for all businesses - that’s 15% of UK GDP. It also promises grants for pubs and retailers, a business rates holiday for some companies, and a mortgage holiday for some homeowners. Chancellor Rishi Sunak promised the UK will get whatever it needs during this \"economic emergency\" unprecedented in peacetime.
Banks have said they’ll let customers delay mortgage payments for up to three months. Want one? You’ll have to apply, and only those in “difficulty” will be approved. Buy-to-let mortgages don’t appear to be included in the scheme. Taking a three-month mortgage holiday won’t affect your credit score and you won’t risk your home being repossessed. However, interest will still rack up as normal and for now it’s only a short term solution.
Buried in the chancellor’s statement was the news that IR35 will be delayed. The controversial tax reform was due to come into force in April, but has been pushed back by a year. Self-employed workers have expressed relief about the postponement, which should make it easier to get work and get paid.
Trust pubs to innovate a comeback to the government’s latest social distancing advice. Punters who want to support their local will be able to visit East London's Signature Brew while self-isolating as their pub in a box includes all the usual pub comforts: pints, beer mats, a quiz, and snacks. The sticky carpet is sure to follow.
","url":"https://multiply.ghost.io/350-billion-lifeline-for-economy/","uuid":"c4457e7a-f95f-45cf-8160-afb057190afc","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e720ccc41ae980038602474"}},{"node":{"id":"Ghost__Post__5e70b094a5acdb0038bd327c","title":"Show won't go on","slug":"show-wont-go-on","featured":false,"feature_image":"https://images.unsplash.com/photo-1562329265-95a6d7a83440?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The government issued new advice yesterday, urging everyone to avoid non-essential social contact in a new effort to suppress the spread of the virus.","custom_excerpt":"The government issued new advice yesterday, urging everyone to avoid non-essential social contact in a new effort to suppress the spread of the virus.","created_at_pretty":"17 March, 2020","published_at_pretty":"17 March, 2020","updated_at_pretty":"17 March, 2020","created_at":"2020-03-17T11:12:20.000+00:00","published_at":"2020-03-17T11:13:59.000+00:00","updated_at":"2020-03-17T11:13:59.000+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\nTheatres close\nThe government issued new advice yesterday, urging everyone to avoid\nnon-essential social contact in a new effort to suppress the spread of the\nvirus. It stopped short of telling pubs, restaurants, and theatres to close, but\ntheatres in London’s West End have taken their own decision to shut\n[https://www.bbc.co.uk/news/entertainment-arts-51906370]. The update sparked\nanger among businesses, who say they’ll lose money but won’t be able to claim on\ninsurance unless they’re forced to close.\n\nFinancial help coming?\nThe government will announce a fresh set of measures today\n[https://www.bbc.co.uk/news/uk-51920444] to help protect the economy from the\nimpacts of the outbreak. It comes less than a week after the Budget, when\nchancellor Rishi Sunak pledged £12 billion for coronavirus-related action. The\nnew plans are expected to support businesses which are being hit, such as\nairlines.\n\nCarphone hangs up\nDixons Carphone has said it’s shutting all standalone Carphone Warehouse shops\n[https://news.sky.com/story/carphone-warehouse-2-900-jobs-axed-as-all-standalone-stores-to-close-11958766]\n, and will now operate out of its shops in Currys PC World. The high street\nmobile phone retailer has said they’ll find new roles for as many staff as\npossible, but around 2,900 people will lose their jobs.\n\nToo much TV\nEven before being confined to the sofa indefinitely, it seems we were getting\noverwhelmed by our streaming services. One third of Brits complain they can’t\nfind their favourite programmes\n[https://www.thetimes.co.uk/edition/news/binge-whinge-as-tv-viewers-face-too-much-choice-in-age-of-streaming-fvmd9psth] \n(paywall) and lose track of which platform they’re on. Netflix? Amazon Prime?\nDisney Plus? Now TV? If you have no idea, you’re not alone.","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 government issued new advice yesterday, urging everyone to avoid non-essential social contact in a new effort to suppress the spread of the virus. It stopped short of telling pubs, restaurants, and theatres to close, but theatres in London’s West End have taken their own decision to shut. The update sparked anger among businesses, who say they’ll lose money but won’t be able to claim on insurance unless they’re forced to close.
The government will announce a fresh set of measures today to help protect the economy from the impacts of the outbreak. It comes less than a week after the Budget, when chancellor Rishi Sunak pledged £12 billion for coronavirus-related action. The new plans are expected to support businesses which are being hit, such as airlines.
Dixons Carphone has said it’s shutting all standalone Carphone Warehouse shops, and will now operate out of its shops in Currys PC World. The high street mobile phone retailer has said they’ll find new roles for as many staff as possible, but around 2,900 people will lose their jobs.
Even before being confined to the sofa indefinitely, it seems we were getting overwhelmed by our streaming services. One third of Brits complain they can’t find their favourite programmes (paywall) and lose track of which platform they’re on. Netflix? Amazon Prime? Disney Plus? Now TV? If you have no idea, you’re not alone.
","url":"https://multiply.ghost.io/show-wont-go-on/","uuid":"95aacf8e-4879-47e3-95ab-f3e8dbdf6840","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e70b094a5acdb0038bd327c"}},{"node":{"id":"Ghost__Post__5e6f5661a5acdb0038bd320f","title":"Some non-corona news","slug":"some-non-corona-news","featured":false,"feature_image":"https://images.unsplash.com/photo-1506367861045-27937c3a8e63?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The pandemic is having a huge impact on economies worldwide, but it’s not the whole story.","custom_excerpt":"The pandemic is having a huge impact on economies worldwide, but it’s not the whole story.","created_at_pretty":"16 March, 2020","published_at_pretty":"16 March, 2020","updated_at_pretty":"16 March, 2020","created_at":"2020-03-16T10:35:13.000+00:00","published_at":"2020-03-16T10:41:04.000+00:00","updated_at":"2020-03-16T10:41:04.000+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":"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\nQuick note: we aim to bring you the most urgent, relevant, and interesting news\nthat affects you and your money. The pandemic is having a huge impact on\neconomies worldwide, but it’s not the whole story. Our edit will always include\na balance of news, including the important bits you might have missed.\n\nFed goes to the wall\nThe US central bank, the Federal Reserve, cut interest rates yesterday\n[https://www.bbc.co.uk/news/business-51901998] for the second time in two weeks,\ntaking the base rate almost to zero. Sunday’s announcement also included a $700\nbillion stimulus package to try and protect the US economy from the impacts of\nthe epidemic and prevent recession. Despite the Fed’s best efforts, global stock\nmarkets opened lower today. In the UK, the FTSE 100 fell sharply in early hours\nof trading.\n\nHouse price uncertainty\nLast month was a good one for property: the number of sales agreed jumped 17.8%\naccording to website Rightmove, which recorded its five busiest days ever in\nFebruary. But following its recent rally, the UK housing market is facing\nanother period of uncertainty\n[https://www.cityam.com/coronavirus-pandemic-heaps-uncertainty-on-house-price-growth/] \nwhich could delay buyers and stifle price growth. Experts have said it’s hard to\npredict how the market will respond to the coronavirus outbreak.\n\nWomen working longer\nFor the first time ever there are more women aged 60-64 in the workplace than\nout of it. The Office for National Statistics (ONS) says the number of older\nwomen who work has increased 51%\n[https://www.theguardian.com/society/2020/mar/16/more-women-aged-60-64-in-work-than-not-for-first-time-in-uk-ons] \nin the decade since the state pension age was increased in 2010.\n\nTikTok revenues revealed\nA new crowd of Brits are getting ‘TikTok famous’, gaining millions of followers\non the video sharing app. But it’s not as lucrative as you might expect. Student\nJake Sweet, aka Surfaceldn, has 3 million followers but only generates enough\ncash to pay for his next viral craft video. According to one estimate, \ninfluencers can make £20-25,000 a year\n[https://www.bbc.co.uk/news/business-50987803] from paid content, appearances,\nand merchandising if they get more than two million followers.","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.
Quick note: we aim to bring you the most urgent, relevant, and interesting news that affects you and your money. The pandemic is having a huge impact on economies worldwide, but it’s not the whole story. Our edit will always include a balance of news, including the important bits you might have missed.
The US central bank, the Federal Reserve, cut interest rates yesterday for the second time in two weeks, taking the base rate almost to zero. Sunday’s announcement also included a $700 billion stimulus package to try and protect the US economy from the impacts of the epidemic and prevent recession. Despite the Fed’s best efforts, global stock markets opened lower today. In the UK, the FTSE 100 fell sharply in early hours of trading.
Last month was a good one for property: the number of sales agreed jumped 17.8% according to website Rightmove, which recorded its five busiest days ever in February. But following its recent rally, the UK housing market is facing another period of uncertainty which could delay buyers and stifle price growth. Experts have said it’s hard to predict how the market will respond to the coronavirus outbreak.
For the first time ever there are more women aged 60-64 in the workplace than out of it. The Office for National Statistics (ONS) says the number of older women who work has increased 51% in the decade since the state pension age was increased in 2010.
A new crowd of Brits are getting ‘TikTok famous’, gaining millions of followers on the video sharing app. But it’s not as lucrative as you might expect. Student Jake Sweet, aka Surfaceldn, has 3 million followers but only generates enough cash to pay for his next viral craft video. According to one estimate, influencers can make £20-25,000 a year from paid content, appearances, and merchandising if they get more than two million followers.
","url":"https://multiply.ghost.io/some-non-corona-news/","uuid":"0e197e80-6eb7-4d85-8703-73871e518027","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e6f5661a5acdb0038bd320f"}},{"node":{"id":"Ghost__Post__5e6b6d0edcea570038ab6b13","title":"50 million jobs at risk?","slug":"50-million-jobs-at-risk","featured":false,"feature_image":"https://images.unsplash.com/photo-1497581170673-3d7d98e9a075?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Up to 50 million people working in travel and tourism could lose their jobs as a result of the global coronavirus outbreak, according to the World Travel and Tourism Council (WTTC). ","custom_excerpt":"Up to 50 million people working in travel and tourism could lose their jobs as a result of the global coronavirus outbreak, according to the World Travel and Tourism Council (WTTC). ","created_at_pretty":"13 March, 2020","published_at_pretty":"13 March, 2020","updated_at_pretty":"13 March, 2020","created_at":"2020-03-13T11:22:54.000+00:00","published_at":"2020-03-13T12:41:43.000+00:00","updated_at":"2020-03-13T12:41:43.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"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\nTourism under threat\nUp to 50 million people working in travel and tourism could lose their jobs as a\nresult of the global coronavirus outbreak, according to the World Travel and\nTourism Council (WTTC). New figures today suggest that the sector could shrink\nby 25% in 2020 [https://www.bbc.co.uk/news/business-51852505]. Airlines, cruise\nships, insurance companies, and others are struggling as people abandon holiday\nplans and some countries impose travel bans.\n\nSpending to hit £1 trillion\nPublic spending will be at its highest level ever by the next election\n[https://www.thetimes.co.uk/edition/news/public-spending-rises-to-1trn-wdfdwsmhr] \n(paywall). Following the Budget yesterday, think tanks have been analysing the\nchancellor’s promises. The Resolution Foundation said government spending will\ntop £1 trillion for the first time, and the Institute for Fiscal Studies (IFS)\nsaid as a proportion of the GDP it will be the highest since the 1980s.\n\nCash-for-ash report\nAn inquiry into Northern Ireland’s botched green energy scheme\n[https://www.theguardian.com/uk-news/2020/mar/13/report-to-be-published-in-northern-ireland-cash-for-ash-inquiry] \nwill be published today. The scandal started in 2012 with the UK-wide renewable\nheat initiative (RHI) which was meant to encourage switching from fossil fuels\nto renewables. But it turned into a runaway spending spree that eventually led\nto the collapse of power-sharing in Stormont in 2017. The report is expected to\ncriticise the politicians and civil servants involved, including leader of the\nDUP Arlene Foster.","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.
Up to 50 million people working in travel and tourism could lose their jobs as a result of the global coronavirus outbreak, according to the World Travel and Tourism Council (WTTC). New figures today suggest that the sector could shrink by 25% in 2020. Airlines, cruise ships, insurance companies, and others are struggling as people abandon holiday plans and some countries impose travel bans.
Public spending will be at its highest level ever by the next election (paywall). Following the Budget yesterday, think tanks have been analysing the chancellor’s promises. The Resolution Foundation said government spending will top £1 trillion for the first time, and the Institute for Fiscal Studies (IFS) said as a proportion of the GDP it will be the highest since the 1980s.
An inquiry into Northern Ireland’s botched green energy scheme will be published today. The scandal started in 2012 with the UK-wide renewable heat initiative (RHI) which was meant to encourage switching from fossil fuels to renewables. But it turned into a runaway spending spree that eventually led to the collapse of power-sharing in Stormont in 2017. The report is expected to criticise the politicians and civil servants involved, including leader of the DUP Arlene Foster.
","url":"https://multiply.ghost.io/50-million-jobs-at-risk/","uuid":"129d3f68-cf98-4a92-92bc-b2788df3cf16","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e6b6d0edcea570038ab6b13"}},{"node":{"id":"Ghost__Post__5e6a02e4625926003895cce7","title":"The big Budget special","slug":"the-big-budget-special","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/03/rishi-sunak.jpg","excerpt":"Yesterday, chancellor Rishi Sunak delivered his first Budget, with headline-grabbing spending promises to tackle coronavirus and its economic impacts.","custom_excerpt":"Yesterday, chancellor Rishi Sunak delivered his first Budget, with headline-grabbing spending promises to tackle coronavirus and its economic impacts.","created_at_pretty":"12 March, 2020","published_at_pretty":"12 March, 2020","updated_at_pretty":"12 March, 2020","created_at":"2020-03-12T09:37:40.000+00:00","published_at":"2020-03-12T09:40:50.000+00:00","updated_at":"2020-03-12T09:40:50.000+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\nThe Budget breakdown\nYesterday, chancellor Rishi Sunak delivered his first Budget\n[https://www.bbc.co.uk/news/business-51820978]. The focus has been on\nheadline-grabbing spending promises to tackle coronavirus and its economic\nimpacts.\n\nLet’s take a look at what the government’s giving us:\n\n£30 billion for coronavirus: The package includes £5 billion for NHS England and\n£7 billion to support businesses and workers across the UK. That’ll pay for\nthings like sick pay and a business rates holiday for small companies. It’s a\ncoordinated response with the Bank of England, which yesterday announced its own\npackage of measures including an interest rate cut from 0.75% to 0.25%.\n\nNational insurance cut: The threshold at which you start paying national\ninsurance will increase by almost £1,000 in April, to £9,500. Over 500,000\npeople will no longer pay national insurance at all, and everyone else will save\n£85 a year on average.\n\nPension tax on high earners: The rules are set to change, meaning fewer people\n(like the doctors who were charged for working overtime) will be hit with big\ntax bills for saving into their pension. Restrictions will kick in if you earn\n£200,000 a year, up from the current £110,000.\n\nInfrastructure spending: There’s £600 billion for building roads, railways,\nhomes, and broadband in the next five years. Sunak’s also promised £2.5 billion\nto fix potholes and £1.5 billion for further education colleges to upgrade their\nbuildings.\n\nIn other news\nPresident Trump has banned all travel from Europe\n[https://www.theguardian.com/world/2020/mar/11/coronavirus-outbreak-us-trump-latest] \n(but not the UK) into the US, starting tomorrow and lasting for 30 days. The\nFTSE 100 stock market has dropped 6%\n[https://www.bbc.co.uk/news/business-51829852] in the first hour of trading. And\nwith fewer young people hitting the sauce, sales of no/low alcohol beer are\nfizzing, with 30% growth [https://www.bbc.co.uk/news/business-51833135] since\n2016.","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.
Yesterday, chancellor Rishi Sunak delivered his first Budget. The focus has been on headline-grabbing spending promises to tackle coronavirus and its economic impacts.
Let’s take a look at what the government’s giving us:
£30 billion for coronavirus: The package includes £5 billion for NHS England and £7 billion to support businesses and workers across the UK. That’ll pay for things like sick pay and a business rates holiday for small companies. It’s a coordinated response with the Bank of England, which yesterday announced its own package of measures including an interest rate cut from 0.75% to 0.25%.
National insurance cut: The threshold at which you start paying national insurance will increase by almost £1,000 in April, to £9,500. Over 500,000 people will no longer pay national insurance at all, and everyone else will save £85 a year on average.
Pension tax on high earners: The rules are set to change, meaning fewer people (like the doctors who were charged for working overtime) will be hit with big tax bills for saving into their pension. Restrictions will kick in if you earn £200,000 a year, up from the current £110,000.
Infrastructure spending: There’s £600 billion for building roads, railways, homes, and broadband in the next five years. Sunak’s also promised £2.5 billion to fix potholes and £1.5 billion for further education colleges to upgrade their buildings.
President Trump has banned all travel from Europe (but not the UK) into the US, starting tomorrow and lasting for 30 days. The FTSE 100 stock market has dropped 6% in the first hour of trading. And with fewer young people hitting the sauce, sales of no/low alcohol beer are fizzing, with 30% growth since 2016.
","url":"https://multiply.ghost.io/the-big-budget-special/","uuid":"81864956-fc30-4298-95e3-e561132b7d84","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e6a02e4625926003895cce7"}},{"node":{"id":"Ghost__Post__5e67746aec126400384c47f0","title":"What happened yesterday?!","slug":"what-happened-yesterday","featured":false,"feature_image":"https://images.unsplash.com/photo-1579225663317-c0251b4369bc?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The FTSE 100 suffered its biggest fall in a single day since 2008 financial crash.","custom_excerpt":"The FTSE 100 suffered its biggest fall in a single day since 2008 financial crash.","created_at_pretty":"10 March, 2020","published_at_pretty":"10 March, 2020","updated_at_pretty":"10 March, 2020","created_at":"2020-03-10T11:05:14.000+00:00","published_at":"2020-03-10T11:10:16.000+00:00","updated_at":"2020-03-10T11:10:16.000+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\nBlack Monday\nYesterday the FTSE 100 suffered its biggest fall in a single day since 2008\nfinancial crash. The markets closed 7.7% down\n[https://www.cityam.com/global-stocks-plunge-amid-oil-crash-and-coronavirus-outbreak/]\n, erasing £125 billion from the value of our biggest companies. It was the same\nstory across the world: Europe and the US both suffered big sell-offs. Why the\npanic? It was a reaction to the double whammy of coronavirus and a 30% dive in\noil prices after Saudi Arabia upped production and flooded the market.\n\nTuesday so far\nGlobal stock markets opened a little bit higher this morning\n[https://www.bbc.co.uk/news/business-51811972]. Oil prices have also bounced\nslightly, up 5% from yesterday’s historic low. Uncertainty about how and when\ncoronavirus will be contained means things will stay shaky for the time being.\nBut there’s optimism in Asia, where Japan’s Prime Minister has promised to work\nwith the central bank there to shore up the economy.\n\nBeat it, Boris bounce\nIt was all going so well for business leaders. Having reported higher confidence\nafter the certainty that came with last year’s election result and Brexit\ndecision, bosses are now shaken again in the face of coronavirus. One in five\nbelieves the outbreak poses a “high” or “severe” threat to business\n[https://www.thetimes.co.uk/edition/business/boris-bounce-ends-as-virus-fears-shatter-business-confidence-kmqqr28hh] \n(paywall) thanks to impacts including low orders and quarantined workers.\n\nOne more sleep\nTomorrow is Rishi Sunak’s budget, when the chancellor’s spending plans will be\nrevealed\n[https://www.standard.co.uk/comment/comment/amid-a-world-in-crisis-rishi-sunak-needs-to-be-a-wartime-chancellor-a4382296.html]\n. It was set to be an important moment even before coronavirus appeared,\nsupermarkets ran out of everything, and the world’s stock markets freaked out.\nBut now, the challenges are akin to those faced by wartime governments. How will\nhe respond? We'll find out tomorrow.","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.
Yesterday the FTSE 100 suffered its biggest fall in a single day since 2008 financial crash. The markets closed 7.7% down, erasing £125 billion from the value of our biggest companies. It was the same story across the world: Europe and the US both suffered big sell-offs. Why the panic? It was a reaction to the double whammy of coronavirus and a 30% dive in oil prices after Saudi Arabia upped production and flooded the market.
Global stock markets opened a little bit higher this morning. Oil prices have also bounced slightly, up 5% from yesterday’s historic low. Uncertainty about how and when coronavirus will be contained means things will stay shaky for the time being. But there’s optimism in Asia, where Japan’s Prime Minister has promised to work with the central bank there to shore up the economy.
It was all going so well for business leaders. Having reported higher confidence after the certainty that came with last year’s election result and Brexit decision, bosses are now shaken again in the face of coronavirus. One in five believes the outbreak poses a “high” or “severe” threat to business (paywall) thanks to impacts including low orders and quarantined workers.
Tomorrow is Rishi Sunak’s budget, when the chancellor’s spending plans will be revealed. It was set to be an important moment even before coronavirus appeared, supermarkets ran out of everything, and the world’s stock markets freaked out. But now, the challenges are akin to those faced by wartime governments. How will he respond? We'll find out tomorrow.
","url":"https://multiply.ghost.io/what-happened-yesterday/","uuid":"56fcaebb-9618-4489-9b8b-69729c1f348b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e67746aec126400384c47f0"}},{"node":{"id":"Ghost__Post__5e661d756c14fc00382282a8","title":"Oil price crash","slug":"oil-price-crash","featured":false,"feature_image":"https://images.unsplash.com/photo-1516199423456-1f1e91b06f25?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The price of crude oil is crashing, and global stock markets are hating it.","custom_excerpt":"The price of crude oil is crashing, and global stock markets are hating it.","created_at_pretty":"09 March, 2020","published_at_pretty":"09 March, 2020","updated_at_pretty":"09 March, 2020","created_at":"2020-03-09T10:41:57.000+00:00","published_at":"2020-03-09T10:44:40.000+00:00","updated_at":"2020-03-09T10:44:39.000+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\nOil takes a tumble\nThe price of crude oil is crashing, and global stock markets are hating it. Why?\nThere’s a few things going on here. Oil prices were already limping thanks to\nthe impacts of coronavirus and an excess of supply that’s higher than demand.\nAnd now Russia, the US, and Saudi Arabia have fallen out about how to manage the\nslump, which could trigger an all-out price war. The result? The UK FTSE 100 was \ndown 8% in early trading [https://www.bbc.co.uk/news/business-51796806] this\nmorning.\n\nWoodford returns?\nAmid these turbulent times, everyone’s favourite failed fund manager may be \nplotting a comeback\n[https://www.cityam.com/neil-woodford-in-talks-with-investors-as-he-plots-comeback/]\n. Neil Woodford is reportedly in talks with other investors about buying back\nsome of the investments from his fallen empire.\n\nBeware biased fund shops\nFund shops’ “best-buy” lists may be leading DIY investors to put money into\nexpensive, poorly performing funds, according to experts from the Financial\nConduct Authority (FCA). The lists are not financial advice and routinely \nrecommend their own funds over those of rivals\n[https://www.telegraph.co.uk/investing/funds/fund-shops-pressure-recommending-funds/] \n(paywall). An investigation found that one fund shop was plugging its own wares\nin 75% of its tips.\n\nUK’s most cancelled train\nThe 7:13am Northern Rail service from Harrogate to Leeds has been revealed as\nthe UK’s most frequently cancelled train\n[https://inews.co.uk/news/uk/most-cancelled-train-northern-rail-2441003]. This\nyear, it’s been cancelled more days than it’s run.\n\nStorm cleans up\nThe havoc wreaked by storms Dennis and Ciara last month are set to cost over\n£360 million\n[https://news.sky.com/story/storms-dennis-and-ciara-damage-set-to-cost-more-than-360m-11951505]\n, according to the insurers who are paying out to cover the costs of the damage.\nMost payouts are for repairs to property and cars which were caught up in\nflooding and high winds.","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 price of crude oil is crashing, and global stock markets are hating it. Why? There’s a few things going on here. Oil prices were already limping thanks to the impacts of coronavirus and an excess of supply that’s higher than demand. And now Russia, the US, and Saudi Arabia have fallen out about how to manage the slump, which could trigger an all-out price war. The result? The UK FTSE 100 was down 8% in early trading this morning.
Amid these turbulent times, everyone’s favourite failed fund manager may be plotting a comeback. Neil Woodford is reportedly in talks with other investors about buying back some of the investments from his fallen empire.
Fund shops’ “best-buy” lists may be leading DIY investors to put money into expensive, poorly performing funds, according to experts from the Financial Conduct Authority (FCA). The lists are not financial advice and routinely recommend their own funds over those of rivals (paywall). An investigation found that one fund shop was plugging its own wares in 75% of its tips.
The 7:13am Northern Rail service from Harrogate to Leeds has been revealed as the UK’s most frequently cancelled train. This year, it’s been cancelled more days than it’s run.
The havoc wreaked by storms Dennis and Ciara last month are set to cost over £360 million, according to the insurers who are paying out to cover the costs of the damage. Most payouts are for repairs to property and cars which were caught up in flooding and high winds.
","url":"https://multiply.ghost.io/oil-price-crash/","uuid":"8ff3d718-1148-48f4-94d8-b5a7723dab6b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e661d756c14fc00382282a8"}},{"node":{"id":"Ghost__Post__5e62295a630de70038de6d52","title":"Brexit prep cost billions","slug":"brexit-prep-cost-billions","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/03/habib-ayoade-uWfOa8brybM-unsplash.jpg","excerpt":"Prepping for Brexit cost UK taxpayers £4.4 billion according to the public spending watchdog.","custom_excerpt":"Prepping for Brexit cost UK taxpayers £4.4 billion according to the public spending watchdog.","created_at_pretty":"06 March, 2020","published_at_pretty":"06 March, 2020","updated_at_pretty":"06 March, 2020","created_at":"2020-03-06T10:43:38.000+00:00","published_at":"2020-03-06T11:26:13.000+00:00","updated_at":"2020-03-06T11:26:13.000+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\nBrexit receipt\nPrepping for Brexit cost UK taxpayers £4.4 billion\n[https://news.sky.com/story/brexit-preparations-cost-taxpayer-more-than-4bn-spending-watchdog-says-11950525] \naccording to the public spending watchdog. The National Audit Office (NAO) has\nsaid this is a minimum estimate for costs between June 2016 and the end of March\n2020, and the real number could be a lot higher. Why the uncertainty? Apparently\nthe data is pretty hazy on the details.\n\n(Not) feelin’ Peachy\nPayday lender Peachy has gone bust\n[https://www.theguardian.com/money/2020/mar/05/payday-lender-peachy-falls-into-administration]\n. It had been struggling to make ends meet since the Financial Conduct Authority\n(FCA) started clamping down on the short term loan business. It’s bad news for\ncustomers who were mis-sold one of Peachy’s high-cost loans, as administrators\nhave warned many claimants will get less compensation than they applied for.\n\nNo solace for cinemas\nCinema stocks have been shot down after it was announced the new Bond film, No\nTime to Die, will be delayed for several months\n[https://www.telegraph.co.uk/business/2020/03/05/cinema-stocks-tumble-bond-gets-pushed-back/] \n(paywall). Cineworld saw its share price drop by 24% before rallying slightly.\nThe spectre of coronavirus could also affect release dates of other major films,\nas concerned cinema goers stay away.\n\nCoronavirus cancellation refunds\nIt hasn’t happened yet, but the government has said it could cancel or restrict\nlarge-scale gatherings [https://www.bbc.co.uk/news/explainers-51738687] like\nconcerts and sports games in a bid to slow the spread. If you bought your ticket\nthrough an official seller, you should get a full refund. Some events may also\noffer replacement tickets for a different date. A word of advice: get everything\nin writing so you have a record of your request.","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.
Prepping for Brexit cost UK taxpayers £4.4 billion according to the public spending watchdog. The National Audit Office (NAO) has said this is a minimum estimate for costs between June 2016 and the end of March 2020, and the real number could be a lot higher. Why the uncertainty? Apparently the data is pretty hazy on the details.
Payday lender Peachy has gone bust. It had been struggling to make ends meet since the Financial Conduct Authority (FCA) started clamping down on the short term loan business. It’s bad news for customers who were mis-sold one of Peachy’s high-cost loans, as administrators have warned many claimants will get less compensation than they applied for.
Cinema stocks have been shot down after it was announced the new Bond film, No Time to Die, will be delayed for several months (paywall). Cineworld saw its share price drop by 24% before rallying slightly. The spectre of coronavirus could also affect release dates of other major films, as concerned cinema goers stay away.
It hasn’t happened yet, but the government has said it could cancel or restrict large-scale gatherings like concerts and sports games in a bid to slow the spread. If you bought your ticket through an official seller, you should get a full refund. Some events may also offer replacement tickets for a different date. A word of advice: get everything in writing so you have a record of your request.
","url":"https://multiply.ghost.io/brexit-prep-cost-billions/","uuid":"1b87b19d-36fa-4ce7-936c-5ea143bec123","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e62295a630de70038de6d52"}},{"node":{"id":"Ghost__Post__5e60ef905c79380038442d26","title":"Flybe heads to departure lounge","slug":"flybe-heads-to-departure-lounge","featured":false,"feature_image":"https://images.unsplash.com/photo-1468530986413-2c93495ed020?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The airline has gone into administration, putting over 2,000 jobs at risk.","custom_excerpt":"The airline has gone into administration, putting over 2,000 jobs at risk.","created_at_pretty":"05 March, 2020","published_at_pretty":"05 March, 2020","updated_at_pretty":"05 March, 2020","created_at":"2020-03-05T12:24:48.000+00:00","published_at":"2020-03-05T12:26:45.000+00:00","updated_at":"2020-03-05T12:26:45.000+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\nFlybe’s bust\nThe airline has gone into administration\n[https://www.bbc.co.uk/news/business-51746564], putting over 2,000 jobs at risk.\nAfter narrowly avoiding collapse last year, Flybe failed to secure funding and\nhas suffered a sales slump due to coronavirus. It’s telling customers not to go\nto the airport unless they’ve booked onto an alternative flight. People who went\nthrough a travel agent or paid on a credit card might be able to get their money\nback for cancelled flights.\n\nClimate demands\nThe Investment Association has called for all publicly traded companies to\npublish plans for managing the threat of climate change\n[https://www.theguardian.com/business/2020/mar/05/leading-investor-group-tells-companies-to-set-out-climate-crisis-plans]\n. The influential group has £7.7 trillion under management between its members.\nIt’s worried that shareholders could lose money if companies fail to adapt their\nbusiness models to deal with the impacts of global warming.\n\nCoronavirus sick pay\nThe government has confirmed that workers who are self-isolating with suspected\ncoronavirus will be given sick pay from day one\n[https://inews.co.uk/news/health/coronavirus-sick-pay-laws-boris-johnson-payment-day-one-emergency-pmqs-2071773]\n. Generally, statutory sick pay doesn’t kick in until the fourth day of absence.\nThe emergency legislation has been brought in to avoid people going to work with\nsymptoms just because they can’t afford to miss work.\n\nBank on the move\nThe new boss of the Bank of England is planning an escape to the country\n[https://www.thetimes.co.uk/edition/business/bank-of-england-will-move-staff-to-regions-says-new-governor-andrew-bailey-mdwn33gsn] \n(paywall) for the bank in a bid to break away from its perceived London bias.\nThe central bank is headquartered in the capital, but will start to move some\noperations and staff into other towns and cities.\n\nFraud on the up\nFraud involving bank branches hit a record high\n[https://www.telegraph.co.uk/money/consumer-affairs/four-years-fraud-protection-work-banks-undone-just-six-months/] \n(paywall) in the first six months of 2019, despite a massive effort to prevent\nit. The first half of last year saw customers hand over £24.2 million cash to\nscammers after withdrawing it from branches. Over £100 million of scams have\nbeen stopped since 2016, but some say banks still aren’t doing enough.","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 airline has gone into administration, putting over 2,000 jobs at risk. After narrowly avoiding collapse last year, Flybe failed to secure funding and has suffered a sales slump due to coronavirus. It’s telling customers not to go to the airport unless they’ve booked onto an alternative flight. People who went through a travel agent or paid on a credit card might be able to get their money back for cancelled flights.
The Investment Association has called for all publicly traded companies to publish plans for managing the threat of climate change. The influential group has £7.7 trillion under management between its members. It’s worried that shareholders could lose money if companies fail to adapt their business models to deal with the impacts of global warming.
The government has confirmed that workers who are self-isolating with suspected coronavirus will be given sick pay from day one. Generally, statutory sick pay doesn’t kick in until the fourth day of absence. The emergency legislation has been brought in to avoid people going to work with symptoms just because they can’t afford to miss work.
The new boss of the Bank of England is planning an escape to the country (paywall) for the bank in a bid to break away from its perceived London bias. The central bank is headquartered in the capital, but will start to move some operations and staff into other towns and cities.
Fraud involving bank branches hit a record high (paywall) in the first six months of 2019, despite a massive effort to prevent it. The first half of last year saw customers hand over £24.2 million cash to scammers after withdrawing it from branches. Over £100 million of scams have been stopped since 2016, but some say banks still aren’t doing enough.
","url":"https://multiply.ghost.io/flybe-heads-to-departure-lounge/","uuid":"3b2a4b88-e2c2-456e-918e-baf7596299dc","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e60ef905c79380038442d26"}},{"node":{"id":"Ghost__Post__5e5f77e3d19ac50038f8504f","title":"One fifth off sick?","slug":"one-fifth-off-sick","featured":false,"feature_image":"https://images.unsplash.com/photo-1556750539-dc6305f4f248?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The Government has published plans to deal with the coronavirus outbreak. It says that if we end up with an epidemic, up to one fifth of the UK workforce could be off sick at once during the peak.","custom_excerpt":"The Government has published plans to deal with the coronavirus outbreak. It says that if we end up with an epidemic, up to one fifth of the UK workforce could be off sick at once during the peak.","created_at_pretty":"04 March, 2020","published_at_pretty":"04 March, 2020","updated_at_pretty":"04 March, 2020","created_at":"2020-03-04T09:41:55.000+00:00","published_at":"2020-03-04T09:55:35.000+00:00","updated_at":"2020-03-04T11:58:57.000+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":"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\nCoronavirus plans\nThe Government has published plans [https://www.bbc.co.uk/news/uk-51718917] to\ndeal with the coronavirus outbreak. It says that if we end up with an epidemic,\nup to one fifth of the UK workforce could be off sick at once during the peak.\nHowever, we’re still in the first phase of its response, which is to contain the\nspread - there are currently just 51 confirmed cases in this country.\n\nMortgage success\nAlmost 71,000 mortgages applications were approved in January, the highest in\nalmost four years\n[https://www.independent.co.uk/money/spend-save/mortgage-interest-rates-property-prices-buy-cheap-deals-a9371001.html]\n. The figures suggest that eager buyers are returning to the property market\nafter years of uncertainty.\n\nEco-friendly petrol\nWhen you go to fill up next year, the petrol at the pump could contain less\ncarbon [https://www.bbc.co.uk/news/uk-51731757]. The government is considering\nmaking E10 the new standard, a move which could cut emissions by 750,000 tonnes\na year (that’s equivalent to taking 350,000 cars off the road). How? E10\ncontains 10% bioethanol, and is currently used in France and Germany.\n\nGreggs going global\nThe baker has said it’s considering international expansion\n[https://www.cityam.com/greggs-to-mull-international-expansion-by-2025/], after\na record-breaking year that saw its dough rising thanks to the success of its\nvegan sausage roll. It’s also announced a partnership with food delivery company\nJust Eat and said it’s refining its coffee in a bid to compete with baristas at\ncafe chains.","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 Government has published plans to deal with the coronavirus outbreak. It says that if we end up with an epidemic, up to one fifth of the UK workforce could be off sick at once during the peak. However, we’re still in the first phase of its response, which is to contain the spread - there are currently just 51 confirmed cases in this country.
Almost 71,000 mortgages applications were approved in January, the highest in almost four years. The figures suggest that eager buyers are returning to the property market after years of uncertainty.
When you go to fill up next year, the petrol at the pump could contain less carbon. The government is considering making E10 the new standard, a move which could cut emissions by 750,000 tonnes a year (that’s equivalent to taking 350,000 cars off the road). How? E10 contains 10% bioethanol, and is currently used in France and Germany.
The baker has said it’s considering international expansion, after a record-breaking year that saw its dough rising thanks to the success of its vegan sausage roll. It’s also announced a partnership with food delivery company Just Eat and said it’s refining its coffee in a bid to compete with baristas at cafe chains.
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