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 Organisation for Economic Co-operation and Development (OECD) has said coronavirus is the “gravest threat” to the global economy since the 2008 financial crash. It has cut its predictions for this year’s global growth from 2.9% to 2.4%, the lowest in over a decade. However, if we see the worst of it by the end of this month, the global economy could bounce back and grow 3.3% in 2021.
The government is due to publish its coronavirus action plan today, and trade unions are warning that it must include statutory sick pay for gig economy workers. Workers who don't get paid sick leave would face the choice of self-isolating and going without pay, or continuing to work with possible symptoms.
A post-Brexit deal with the US could boost the UK economy by up to 0.16% over the next 15 years. That’s based on an extensive model developed by the government. The same model predicts that our GDP would tank by 7.2% over the same time period if we don’t secure a deal with the EU. Talks with the US are expected to get underway later this month.
If your car is kitted out with gadgets like parking sensors and keyless ignition, it probably costs more to repair. Electric vehicles are also pricier to fix than their petrol and diesel counterparts. Spiralling repair costs are driving up car insurance premiums (paywall): the average rose 6.6% to £503 in the last quarter of 2019.
","url":"https://multiply.ghost.io/global-growth-forecasts-slashed/","uuid":"01be38ae-e871-46dc-a56d-233e3011693c","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e5e24ecc5a46a0038077a47"}},{"node":{"id":"Ghost__Post__5e5cdb5b1eb425003843a724","title":"Coronavirus thwarts tax cuts?","slug":"coronavirus-thwarts-tax-cuts","featured":false,"feature_image":"https://images.unsplash.com/photo-1581839001317-28cd5d3b35b6?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Government ministers and advisers have warned chancellor Rishi Sunak to rethink his 11th March budget in light of the coronavirus outbreak.","custom_excerpt":"Government ministers and advisers have warned chancellor Rishi Sunak to rethink his 11th March budget in light of the coronavirus outbreak.","created_at_pretty":"02 March, 2020","published_at_pretty":"02 March, 2020","updated_at_pretty":"02 March, 2020","created_at":"2020-03-02T10:09:31.000+00:00","published_at":"2020-03-02T10:14:08.000+00:00","updated_at":"2020-03-02T10:14:08.000+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\nCosting in coronavirus\nGovernment ministers and advisers have warned chancellor Rishi Sunak to rethink\nhis 11th March budget\n[https://www.theguardian.com/uk-news/2020/mar/01/coronavirus-force-rishi-sunak-budget-rethink] \nin light of the coronavirus outbreak. The virus is spreading rapidly, causing\ntumbling stock prices across the world and threatening an economic downturn. The\nconcern is that Sunak will have less tax revenue to work with than he expected.\n\nPricier veggies?\nThe heaviest rain for 30 years may push food prices up\n[https://www.telegraph.co.uk/business/2020/03/01/fears-food-price-surge-heavy-rain-washes-uk-crops/] \n(paywall) after crops have been washed out by the flooding. We might see\nshortages if the weather doesn’t dry up soon, because farmers are unable to\nplant seeds in the waterlogged ground. But supermarkets say they’re ready to\nfind alternatives, if homegrown produce doesn’t deliver.\n\nMost aggressive (watch)dog on the block\nThe UK competition watchdog, the Competition and Markets Authority (CMA), has\nbeen revealed as the most aggressive in the world\n[https://www.ft.com/content/ae2951a0-5b85-11ea-b0ab-339c2307bcd4] (paywall),\nthwarting the most business deals. The CMA’s job is to assess potential deals,\nlike mergers and acquisitions, and check if they’re good news for consumers. If\nnot, it can block the deal or fine the companies involved. In the last five\nyears, it has frustrated 6% of the deals it assessed.\n\nBank leaker was approved\nThe company which leaked audio from Bank of England press conferences to paying\nclients had been investigated three times and approved\n[https://www.cityam.com/bank-of-england-three-times-passed-press-conference-scandal-company/]\n, before it was outed by The Times. Encoded Media, which has now been sacked,\nworked with the central bank for over 10 years, during which time it gave\ntraders advance access to key market info.\n\nWho’s the Boss\nComedian formerly known as Joe Lycett has officially changed his name to Hugo\nBoss\n[https://news.sky.com/story/comedian-joe-lycett-changes-his-name-to-hugo-boss-in-support-of-small-businesses-targeted-by-fashion-designer-11947629] \nto stick up for small businesses. Charities and companies using the name “boss”\nhave been left with thousands in legal fees after receiving cease and desist\nletters from the German fashion designer. The new Hugo has announced plans to\nlaunch a product under this new name, so watch this space.","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.
Government ministers and advisers have warned chancellor Rishi Sunak to rethink his 11th March budget in light of the coronavirus outbreak. The virus is spreading rapidly, causing tumbling stock prices across the world and threatening an economic downturn. The concern is that Sunak will have less tax revenue to work with than he expected.
The heaviest rain for 30 years may push food prices up (paywall) after crops have been washed out by the flooding. We might see shortages if the weather doesn’t dry up soon, because farmers are unable to plant seeds in the waterlogged ground. But supermarkets say they’re ready to find alternatives, if homegrown produce doesn’t deliver.
The UK competition watchdog, the Competition and Markets Authority (CMA), has been revealed as the most aggressive in the world (paywall), thwarting the most business deals. The CMA’s job is to assess potential deals, like mergers and acquisitions, and check if they’re good news for consumers. If not, it can block the deal or fine the companies involved. In the last five years, it has frustrated 6% of the deals it assessed.
The company which leaked audio from Bank of England press conferences to paying clients had been investigated three times and approved, before it was outed by The Times. Encoded Media, which has now been sacked, worked with the central bank for over 10 years, during which time it gave traders advance access to key market info.
Comedian formerly known as Joe Lycett has officially changed his name to Hugo Boss to stick up for small businesses. Charities and companies using the name “boss” have been left with thousands in legal fees after receiving cease and desist letters from the German fashion designer. The new Hugo has announced plans to launch a product under this new name, so watch this space.
","url":"https://multiply.ghost.io/coronavirus-thwarts-tax-cuts/","uuid":"822bf5d1-8c28-4724-8577-884de613804a","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e5cdb5b1eb425003843a724"}},{"node":{"id":"Ghost__Post__5e579d841eb425003843a70e","title":"Klarna dangerous?","slug":"klarna-dangerous","featured":false,"feature_image":"https://images.unsplash.com/photo-1556740772-1a741367b93e?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Popular “buy now, pay later” schemes are growing at 39% a year and the rise has got consumer groups worried.","custom_excerpt":"Popular “buy now, pay later” schemes are growing at 39% a year and the rise has got consumer groups worried.","created_at_pretty":"27 February, 2020","published_at_pretty":"27 February, 2020","updated_at_pretty":"27 February, 2020","created_at":"2020-02-27T10:44:20.000+00:00","published_at":"2020-02-27T12:44:04.000+00:00","updated_at":"2020-02-27T12:44:04.000+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\nKlarna alarm\nPopular “buy now, pay later” schemes are growing at 39% a year\n[https://www.bbc.co.uk/news/business-51644712] and the rise has got consumer\ngroups worried. Over seven million people in the UK have used zero-interest\ncredit provider Klarna to delay payments for items such as clothes and even\nexercise bikes. Critics say it encourages people to make snap purchases, and\nthat falling behind on payments might affect their ability to borrow in the\nfuture.\n\nPensions gone missing\nDo you know exactly where your pension is saved, and how much is in it? As many\nas one in five of us could have lost a pension pot\n[https://inews.co.uk/news/consumer/pensions-dashboard-blind-spot-savings-one-place-pensions-schemes-bill-1996831]\n, according to the Pensions Policy Institute. The Association of British\nInsurers found that the same proportion don’t check their pension information.\nParliament is currently preparing to reignite discussion of a digital pensions\ndashboard which would allow savers to see all their pensions in one place.\n\nStamp duty giveaway?\nHigh stamp duty is clogging up the housing market by discouraging people from\nmoving out of big homes they don’t need, according to a think tank. The Centre\nfor Policy Studies has proposed raising the stamp duty threshold\n[https://www.telegraph.co.uk/tax/news/37bn-stamp-duty-giveaway-would-pay-fix-housing-crisis-time/] \n(paywall) from £125,000 to £500,000. It said by scrapping the tax on nine in 10\nhomes, the giveaway would pay for itself by releasing a boost of buying and\nselling.\n\nHeathrow runway “illegal”\nPlans to build a third runway at Heathrow have been ruled illegal by the court\nof appeal\n[https://www.theguardian.com/environment/2020/feb/27/heathrow-third-runway-ruled-illegal-over-climate-change] \nbecause it would flout the UK’s climate change commitments. We’ve set a legally\nbinding target to hit zero emissions by 2050, so the extra runway (which would\nhave brought an extra 700 planes a day to London) doesn’t cut it. The court’s\nruling is the first in the world to be based on the global Paris climate\nagreement.","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.
Popular “buy now, pay later” schemes are growing at 39% a year and the rise has got consumer groups worried. Over seven million people in the UK have used zero-interest credit provider Klarna to delay payments for items such as clothes and even exercise bikes. Critics say it encourages people to make snap purchases, and that falling behind on payments might affect their ability to borrow in the future.
Do you know exactly where your pension is saved, and how much is in it? As many as one in five of us could have lost a pension pot, according to the Pensions Policy Institute. The Association of British Insurers found that the same proportion don’t check their pension information. Parliament is currently preparing to reignite discussion of a digital pensions dashboard which would allow savers to see all their pensions in one place.
High stamp duty is clogging up the housing market by discouraging people from moving out of big homes they don’t need, according to a think tank. The Centre for Policy Studies has proposed raising the stamp duty threshold (paywall) from £125,000 to £500,000. It said by scrapping the tax on nine in 10 homes, the giveaway would pay for itself by releasing a boost of buying and selling.
Plans to build a third runway at Heathrow have been ruled illegal by the court of appeal because it would flout the UK’s climate change commitments. We’ve set a legally binding target to hit zero emissions by 2050, so the extra runway (which would have brought an extra 700 planes a day to London) doesn’t cut it. The court’s ruling is the first in the world to be based on the global Paris climate agreement.
","url":"https://multiply.ghost.io/klarna-dangerous/","uuid":"aa4a16e5-f4b8-4754-afbc-c752d66df5b4","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e579d841eb425003843a70e"}},{"node":{"id":"Ghost__Post__5e5648feef277f0038b96615","title":"Coronavirus contingency planning","slug":"coronavirus-contingency-planning","featured":false,"feature_image":"https://images.unsplash.com/photo-1580094687196-cbc2bdab67e4?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"In case you hadn’t heard, coronavirus is now in Europe.","custom_excerpt":"In case you hadn’t heard, coronavirus is now in Europe.","created_at_pretty":"26 February, 2020","published_at_pretty":"26 February, 2020","updated_at_pretty":"26 February, 2020","created_at":"2020-02-26T10:31:26.000+00:00","published_at":"2020-02-26T10:33:16.000+00:00","updated_at":"2020-02-26T10:33:16.000+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\nCoronavirus curfew coming?\nIn case you hadn’t heard, coronavirus is now in Europe. If it starts to spread,\nthe UK government has plans to slow it down\n[https://www.theguardian.com/world/2020/feb/25/coronavirus-fears-grow-as-more-cases-found-across-europe] \nby shutting schools and restricting travel. Families may also be asked to\nself-isolate if one member shows any symptoms. Don't start skipping work though\n- they're only contingency plans.\n\nMarkets feeling fluey\nThe FTSE 100 fell 2% yesterday\n[https://www.cityam.com/ftse-100-stages-recovery-after-worst-day-in-four-years/] \namid the concern over a coronavirus pandemic, dipping below 7,100 points for the\nfirst time since October last year. Travel and engineering firms were among the\nbiggest fallers, over concerns that the virus (and attempts to constrain it)\nwill harm their profits\n\nTax temperature check\nA leading think tank has warned chancellor Rishi Sunak that his spending plans \nwon’t be possible without raising taxes\n[https://www.bbc.co.uk/news/uk-politics-51639439]. Ahead of next month’s budget,\nthe Institute for Fiscal Studies (IFS) said the government risked breaking its\nanti-borrowing rules otherwise. It's a sticky situation though: in last year’s\nelection manifesto, the Conservatives promised not to put up income tax,\nnational insurance or VAT.\n\nEven higher earners\nThe wealthiest people in the country are actually richer than we realised\n[https://www.thetimes.co.uk/edition/news/the-rich-are-wealthier-than-we-thought-they-just-dont-tell-officials-fg0vg7qp6] \n(paywall). The Office for National Statistics (ONS) has overhauled the way it\nlooks at the data and is now reporting that the average wage of the top 10% of\nearners was £97,600 in 2017-18. That’s almost £10,000 more than previously\nthought.","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 case you hadn’t heard, coronavirus is now in Europe. If it starts to spread, the UK government has plans to slow it down by shutting schools and restricting travel. Families may also be asked to self-isolate if one member shows any symptoms. Don't start skipping work though - they're only contingency plans.
The FTSE 100 fell 2% yesterday amid the concern over a coronavirus pandemic, dipping below 7,100 points for the first time since October last year. Travel and engineering firms were among the biggest fallers, over concerns that the virus (and attempts to constrain it) will harm their profits
A leading think tank has warned chancellor Rishi Sunak that his spending plans won’t be possible without raising taxes. Ahead of next month’s budget, the Institute for Fiscal Studies (IFS) said the government risked breaking its anti-borrowing rules otherwise. It's a sticky situation though: in last year’s election manifesto, the Conservatives promised not to put up income tax, national insurance or VAT.
The wealthiest people in the country are actually richer than we realised (paywall). The Office for National Statistics (ONS) has overhauled the way it looks at the data and is now reporting that the average wage of the top 10% of earners was £97,600 in 2017-18. That’s almost £10,000 more than previously thought.
","url":"https://multiply.ghost.io/coronavirus-contingency-planning/","uuid":"22dd51cb-7fee-4cb3-b16e-2daa03492503","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e5648feef277f0038b96615"}},{"node":{"id":"Ghost__Post__5e54eedcab9dcf0038697424","title":"Chlorinated chicken banned?","slug":"chlorinated-chicken-banned","featured":false,"feature_image":"https://images.unsplash.com/photo-1556316918-880f9e893822?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The EU will say the UK must keep the current ban on chlorinated chicken in place if we want a trade agreement with Brussels.","custom_excerpt":"The EU will say the UK must keep the current ban on chlorinated chicken in place if we want a trade agreement with Brussels.","created_at_pretty":"25 February, 2020","published_at_pretty":"25 February, 2020","updated_at_pretty":"25 February, 2020","created_at":"2020-02-25T09:54:36.000+00:00","published_at":"2020-02-25T09:58:31.000+00:00","updated_at":"2020-02-25T09:58:31.000+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":"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\nFowl move\nThe EU will say the UK must keep the current ban on chlorinated chicken in place\nif we want a trade agreement with Brussels. It’s a move to protect European meat\nexports, and makes it harder for the UK to agree a trade deal with the US. The\nclause was revealed after the EU’s negotiating mandate (which lays out the\ngrounds for a potential deal) was leaked\n[https://www.theguardian.com/politics/2020/feb/25/keep-chlorinated-chicken-ban-to-win-trade-deal-eu-tells-uk]\n.\n\nRogue home builders banned\nA watchdog will be set up [https://www.bbc.co.uk/news/business-51620638] with\nthe power to prevent cowboy developers from building new homes. The new homes\nombudsman will also pay out compensation to people living in new builds with\nissues such as faulty wiring. The plans have been prompted by an alarming rise\nin shoddy building work in new homes; the Home Builders Federation (HBF)\nreported that 99% of customers reported snags in 2018, up from 93% in 2015.\n\nCar insurance cancelled\nYoung drivers using the app Carrot Insurance have been threatened with having\ntheir car insurance cancelled [https://www.bbc.co.uk/news/business-51612880].\nIt’s meant to record accelerating, braking and other data in order to reward\nsafe drivers with lower premiums. But many people have made complaints that\nfaults with the app have led to policies being stopped or their premiums hiked.\n\nStep aside, shareholders\nOur corporate rules should be changed\n[https://www.cityam.com/bank-of-englands-andy-haldane-calls-for-rethink-of-corporate-governance-laws/] \nto prioritise workers, customers, and social goals as well as shareholders\naccording to Andy Halden, the chief economist at the Bank of England. In a\nspeech, he pointed to rising inequality and a decade of wage stagnation as proof\nas “the time is right for a refresh” of the capitalist model. In particular,\nhe’s not a fan of the bit that says companies exist for the benefit of their\nshareholders.","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 EU will say the UK must keep the current ban on chlorinated chicken in place if we want a trade agreement with Brussels. It’s a move to protect European meat exports, and makes it harder for the UK to agree a trade deal with the US. The clause was revealed after the EU’s negotiating mandate (which lays out the grounds for a potential deal) was leaked.
A watchdog will be set up with the power to prevent cowboy developers from building new homes. The new homes ombudsman will also pay out compensation to people living in new builds with issues such as faulty wiring. The plans have been prompted by an alarming rise in shoddy building work in new homes; the Home Builders Federation (HBF) reported that 99% of customers reported snags in 2018, up from 93% in 2015.
Young drivers using the app Carrot Insurance have been threatened with having their car insurance cancelled. It’s meant to record accelerating, braking and other data in order to reward safe drivers with lower premiums. But many people have made complaints that faults with the app have led to policies being stopped or their premiums hiked.
Our corporate rules should be changed to prioritise workers, customers, and social goals as well as shareholders according to Andy Halden, the chief economist at the Bank of England. In a speech, he pointed to rising inequality and a decade of wage stagnation as proof as “the time is right for a refresh” of the capitalist model. In particular, he’s not a fan of the bit that says companies exist for the benefit of their shareholders.
","url":"https://multiply.ghost.io/chlorinated-chicken-banned/","uuid":"3d9c81bc-6cc7-4f43-ab89-2bc1888c2d3f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e54eedcab9dcf0038697424"}},{"node":{"id":"Ghost__Post__5e539696ab9dcf003869740a","title":"The Sun's sales drop","slug":"the-suns-sales-drop","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/02/the-sun.jpg","excerpt":"The paper saw a £68 million loss in 2019, as daily sales fell by 8% to 1.38 million. ","custom_excerpt":"The paper saw a £68 million loss in 2019, as daily sales fell by 8% to 1.38 million. ","created_at_pretty":"24 February, 2020","published_at_pretty":"24 February, 2020","updated_at_pretty":"24 February, 2020","created_at":"2020-02-24T09:25:42.000+00:00","published_at":"2020-02-24T09:29:01.000+00:00","updated_at":"2020-02-24T09:29:01.000+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\nSun setting?\nThe paper saw a £68 million loss in 2019\n[https://www.bbc.co.uk/news/business-51608099], as daily sales fell by 8% to\n1.38 million. That still makes it the country’s most read paper. The Sun’s\nowner, News Group Newspapers, also admitted to stumping up £26.7m for a legal\nbill related to phone hacking. Elsewhere in tabloid land: Reach, which has owned\nthe Mirror and the Express since their 2018 merger, bounced back into the black\n[https://www.cityam.com/mirror-and-express-publisher-reach-sees-revenue-drop/] \nwith a £120.9m pre-tax profit despite a 5.3% drop in revenue.\n\nAll right for some\nBig fund managers are snapping up cheap shares in luxury brands\n[https://www.cityam.com/fund-managers-snap-up-luxury-brands-on-coronavirus-dip/] \nwhich are struggling as a result of the Coronavirus outbreak. Chinese citizens\nmake 35% of all luxury purchases worldwide, and Burberry, Remy Cointreau, and\nDiageo have all seen their share price dip by up to 11% in recent weeks as sales\nfall. Leading funds such as Rathbone Brothers and BNY Mellon are taking\nadvantage of the dip, which is expected to be short-lived.\n\nGovernment spending spree?\nBoris Johnson’s government could be on course to spend £1 trillion a year\n[https://www.theguardian.com/business/2020/feb/24/uk-public-spending-to-top-1tn-a-year-thinktank-forecasts] \nby 2023-24. It would be the first time public spending has gone that high. The\nanalysis by the Resolution Foundation think tank predicts that the government’s\nplans would raise spending to 40% of GDP, a level which hasn’t been seen since\nthe 70s. Curious? All will be revealed in Chancellor Rishi Sunak’s Budget next\nmonth.\n\nBlue passports\nIs your passport due for renewal? Get ready for its sharp new look. The first\nblue passports since 1988 will be issued in March\n[https://www.cityam.com/brexit-blue-passports-to-return-from-march-2020/], and\nby mid 2020 all new passports will boast the new-old livery. They’ll be printed\nby French-Dutch company Gemalto; British firm De La Rue has issued multiple\nprofit warnings since it lost out on the contract in 2018.","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 paper saw a £68 million loss in 2019, as daily sales fell by 8% to 1.38 million. That still makes it the country’s most read paper. The Sun’s owner, News Group Newspapers, also admitted to stumping up £26.7m for a legal bill related to phone hacking. Elsewhere in tabloid land: Reach, which has owned the Mirror and the Express since their 2018 merger, bounced back into the black with a £120.9m pre-tax profit despite a 5.3% drop in revenue.
Big fund managers are snapping up cheap shares in luxury brands which are struggling as a result of the Coronavirus outbreak. Chinese citizens make 35% of all luxury purchases worldwide, and Burberry, Remy Cointreau, and Diageo have all seen their share price dip by up to 11% in recent weeks as sales fall. Leading funds such as Rathbone Brothers and BNY Mellon are taking advantage of the dip, which is expected to be short-lived.
Boris Johnson’s government could be on course to spend £1 trillion a year by 2023-24. It would be the first time public spending has gone that high. The analysis by the Resolution Foundation think tank predicts that the government’s plans would raise spending to 40% of GDP, a level which hasn’t been seen since the 70s. Curious? All will be revealed in Chancellor Rishi Sunak’s Budget next month.
Is your passport due for renewal? Get ready for its sharp new look. The first blue passports since 1988 will be issued in March, and by mid 2020 all new passports will boast the new-old livery. They’ll be printed by French-Dutch company Gemalto; British firm De La Rue has issued multiple profit warnings since it lost out on the contract in 2018.
","url":"https://multiply.ghost.io/the-suns-sales-drop/","uuid":"e5bb6bc2-a463-418b-9520-3d3df1e9f2e6","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e539696ab9dcf003869740a"}},{"node":{"id":"Ghost__Post__5e4fb8d2755d9700386aea5c","title":"Retail therapy for UK economy","slug":"retail-therapy-for-uk-economy","featured":false,"feature_image":"https://images.unsplash.com/photo-1481437156560-3205f6a55735?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"Retail sales (excluding fuel) jumped 1.6% in January. That’s the biggest rise in almost two years. ","custom_excerpt":"Retail sales (excluding fuel) jumped 1.6% in January. That’s the biggest rise in almost two years. ","created_at_pretty":"21 February, 2020","published_at_pretty":"21 February, 2020","updated_at_pretty":"21 February, 2020","created_at":"2020-02-21T11:02:42.000+00:00","published_at":"2020-02-21T11:06:38.000+00:00","updated_at":"2020-02-21T11:06:38.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#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\nJanuary shopping spree\nRetail sales (excluding fuel) jumped 1.6% in January\n[https://www.cityam.com/uk-retail-sales-jump-1-6-per-cent-in-january-after-tory-election-victory/]\n. That’s the biggest rise in almost two years. Fashion retailers enjoyed the\njuiciest month-on-month increase, seeing eager shoppers buy 3.9% more clothes\nand shoes. The best bit? The growth was double what economists had predicted,\nsuggesting consumer confidence is up.\n\nWorm food\nSpend a twenty today, and it’ll help grow your food. In the biggest cash\nreplacement operation in UK history, two billion paper twenties bearing the face\nof economist Adam Smith are being taken out of circulation and will be turned\ninto...compost [https://www.bbc.co.uk/news/business-51564580]. The old bank\nnotes are being replaced with shiny new polymer versions. You can still use the\npaper notes - we’ll get a six month warning ahead of when they’re no longer\nvalid.\n\nCouncil tax rises\nIn 90% of local authorities, council tax is set to go up in April\n[https://www.thetimes.co.uk/edition/news/inflation-busting-council-tax-increase-for-most-households-55m36jv5q] \n(paywall). The average increase for a band D property will be £70, an increase\nof 4% which is well above inflation. Despite the tax rises, councils said that\nthey face a £19.1 billion funding gap by 2025 which is putting them under\npressure to cut services.","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.
Retail sales (excluding fuel) jumped 1.6% in January. That’s the biggest rise in almost two years. Fashion retailers enjoyed the juiciest month-on-month increase, seeing eager shoppers buy 3.9% more clothes and shoes. The best bit? The growth was double what economists had predicted, suggesting consumer confidence is up.
Spend a twenty today, and it’ll help grow your food. In the biggest cash replacement operation in UK history, two billion paper twenties bearing the face of economist Adam Smith are being taken out of circulation and will be turned into...compost. The old bank notes are being replaced with shiny new polymer versions. You can still use the paper notes - we’ll get a six month warning ahead of when they’re no longer valid.
In 90% of local authorities, council tax is set to go up in April (paywall). The average increase for a band D property will be £70, an increase of 4% which is well above inflation. Despite the tax rises, councils said that they face a £19.1 billion funding gap by 2025 which is putting them under pressure to cut services.
","url":"https://multiply.ghost.io/retail-therapy-for-uk-economy/","uuid":"83beaba8-5d1e-4100-bddc-313249a6000c","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4fb8d2755d9700386aea5c"}},{"node":{"id":"Ghost__Post__5e4e5805755d9700386aea1f","title":"Stuff's getting pricier","slug":"stuffs-getting-pricier","featured":false,"feature_image":"https://images.unsplash.com/photo-1485637701894-09ad422f6de6?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"UK inflation rose to its highest in six months in January, with the Consumer Prices Index (CPI) hitting 1.8%. ","custom_excerpt":"UK inflation rose to its highest in six months in January, with the Consumer Prices Index (CPI) hitting 1.8%. ","created_at_pretty":"20 February, 2020","published_at_pretty":"20 February, 2020","updated_at_pretty":"20 February, 2020","created_at":"2020-02-20T09:57:25.000+00:00","published_at":"2020-02-20T09:59:18.000+00:00","updated_at":"2020-02-20T09:59:18.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"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\nDon’t get deflated\nUK inflation rose to its highest in six months in January, with the Consumer\nPrices Index (CPI) hitting 1.8% [https://www.bbc.co.uk/news/business-51557550].\nThis is still within the Bank of England's 2% target for inflation. What does it\nmean? Essentially, the stuff we buy is getting more expensive. This increase is\nmostly being driven by rising petrol prices, which are up 4.7% compared to a\nyear ago.\n\n5G worth trillions\nThe global economy could enjoy a massive boost from the widespread use of 5G\nnetworks. New research from McKinsey has found that global GDP could gain up to\n$2 trillion by 2030\n[https://www.telegraph.co.uk/technology/2020/02/20/5g-could-create-global-economic-boost-worth-2-trillion-2030/] \n(paywall) through using super-fast internet in the healthcare, manufacturing,\nretail, and mobility sectors alone. How? It reckons improved connectivity can\nopen up new revenue streams and raise productivity.\n\nDo you live on a floodplain? \nOne in 10 new homes built since 2013 has been built on land that’s at a high\nrisk of flooding\n[https://www.theguardian.com/environment/2020/feb/19/one-in-ten-new-homes-in-england-built-on-land-with-high-flood-risk]\n. That’s 84,000 homes, a number which has more than doubled in recent years.\nHomes in high-risk areas can be devastated by winter storms like Ciara and\nDennis which have battered the UK in the last few weeks.\n\nPensions advice being monitored\nCompanies are so concerned about bad pension advice that they’re bringing in\nthird parties to check what employees are being told\n[https://www.ft.com/content/8fa5b5cc-5309-11ea-8841-482eed0038b1] (paywall).\nWhat’s the fuss about? The Financial Conduct Authority (FCA) warned this week\nthat tens of thousands of people could run out of money in retirement, after it\nfound that up to £20 billion of defined benefit transfers may have been based on\nunsuitable advice.\n\nBarclays measuring loo breaks\nThe bank’s new scheme has been branded a “Big Brother” move after it installed\nsoftware on its employees' computers\n[https://www.cityam.com/exclusive-barclays-installs-big-brother-style-spyware-on-employees-computers/] \nto check they’re working hard enough. The software gives staff daily updates on\ntheir productivity, tells them to avoid taking breaks, and sends a slap on the\nwrist message if they haven’t been “in the zone” 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.
UK inflation rose to its highest in six months in January, with the Consumer Prices Index (CPI) hitting 1.8%. This is still within the Bank of England's 2% target for inflation. What does it mean? Essentially, the stuff we buy is getting more expensive. This increase is mostly being driven by rising petrol prices, which are up 4.7% compared to a year ago.
The global economy could enjoy a massive boost from the widespread use of 5G networks. New research from McKinsey has found that global GDP could gain up to $2 trillion by 2030 (paywall) through using super-fast internet in the healthcare, manufacturing, retail, and mobility sectors alone. How? It reckons improved connectivity can open up new revenue streams and raise productivity.
One in 10 new homes built since 2013 has been built on land that’s at a high risk of flooding. That’s 84,000 homes, a number which has more than doubled in recent years. Homes in high-risk areas can be devastated by winter storms like Ciara and Dennis which have battered the UK in the last few weeks.
Companies are so concerned about bad pension advice that they’re bringing in third parties to check what employees are being told (paywall). What’s the fuss about? The Financial Conduct Authority (FCA) warned this week that tens of thousands of people could run out of money in retirement, after it found that up to £20 billion of defined benefit transfers may have been based on unsuitable advice.
The bank’s new scheme has been branded a “Big Brother” move after it installed software on its employees' computers to check they’re working hard enough. The software gives staff daily updates on their productivity, tells them to avoid taking breaks, and sends a slap on the wrist message if they haven’t been “in the zone” enough.
","url":"https://multiply.ghost.io/stuffs-getting-pricier/","uuid":"12afb4ba-3e5e-4b51-ad44-ed810c57537c","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4e5805755d9700386aea1f"}},{"node":{"id":"Ghost__Post__5e4d0ddbb90d08003812cf78","title":"New chancellor's deadline stress","slug":"new-chancellors-deadline-stress","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/02/rishi.jpg","excerpt":"The Budget will take place as planned on 11th March, leaving our brand-new chancellor Rishi Sunak just a few weeks to thrash out the details.","custom_excerpt":"The Budget will take place as planned on 11th March, leaving our brand-new chancellor Rishi Sunak just a few weeks to thrash out the details.","created_at_pretty":"19 February, 2020","published_at_pretty":"19 February, 2020","updated_at_pretty":"19 February, 2020","created_at":"2020-02-19T10:28:43.000+00:00","published_at":"2020-02-19T10:31:25.000+00:00","updated_at":"2020-02-19T10:31:25.000+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\nRishi Sunak steps up\nThe Budget will take place as planned on 11th March\n[https://www.cityam.com/chancellor-and-prime-minister-to-thrash-out-details-of-budget-as-march-deadline-stays/]\n, leaving our brand-new chancellor Rishi Sunak just a few weeks to thrash out\nthe details. He’s meeting Boris Johnson today to discuss the planned policy\nannouncements. The Budget is expected to be full of big changes and a loosening\nof fiscal rules, marking an end to austerity.\n\nUK going cashless?\nBrits are putting more on the plastic: it’s estimated that there will be just\n3.8 billion cash transactions in 2028\n[https://www.bbc.co.uk/news/business-51550061], accounting for just 9% of all\npayments. Campaigners are worried that notes and coins will disappear completely\nwithin a decade. What's the problem? Cash is vital to millions of people without\na bank account, who use it to buy essentials and pay bills.\n\nBiggest payday since 2008\nWages and employment both hit new highs\n[https://www.cityam.com/uk-employment-hits-new-record-high-as-jobless-total-falls/] \nat the end of 2019 according to the Office for National Statistics (ONS). Weekly\npre-tax pay packets beat the pre-financial crisis peak, rising to £474\n(excluding bonuses). UK employment also rose to a record high, with 32.9 million\npeople in work.\n\nFreelancers out of work\nImpending changes to IR35 tax rules have meant many self-employed people are\nstruggling for work\n[https://www.telegraph.co.uk/tax/self-employed/heading-breakdown-tax-rule-changes-pushing-freelancers-edge/] \n(paywall). Why? Many large companies have simply stopped working with\ncontractors out of fear of disputes with HMRC. Almost a third of self-employed\npeople have said the stress has given them anxiety or suicidal thoughts.","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 Budget will take place as planned on 11th March, leaving our brand-new chancellor Rishi Sunak just a few weeks to thrash out the details. He’s meeting Boris Johnson today to discuss the planned policy announcements. The Budget is expected to be full of big changes and a loosening of fiscal rules, marking an end to austerity.
Brits are putting more on the plastic: it’s estimated that there will be just 3.8 billion cash transactions in 2028, accounting for just 9% of all payments. Campaigners are worried that notes and coins will disappear completely within a decade. What's the problem? Cash is vital to millions of people without a bank account, who use it to buy essentials and pay bills.
Wages and employment both hit new highs at the end of 2019 according to the Office for National Statistics (ONS). Weekly pre-tax pay packets beat the pre-financial crisis peak, rising to £474 (excluding bonuses). UK employment also rose to a record high, with 32.9 million people in work.
Impending changes to IR35 tax rules have meant many self-employed people are struggling for work (paywall). Why? Many large companies have simply stopped working with contractors out of fear of disputes with HMRC. Almost a third of self-employed people have said the stress has given them anxiety or suicidal thoughts.
","url":"https://multiply.ghost.io/new-chancellors-deadline-stress/","uuid":"e4fd2039-67e9-40bc-809e-fc0b83fe9348","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4d0ddbb90d08003812cf78"}},{"node":{"id":"Ghost__Post__5e4bbf1ab90d08003812cf5f","title":"HSBC in trouble","slug":"hsbc-in-trouble","featured":false,"feature_image":"https://images.unsplash.com/photo-1537029271773-31e5422be11c?ixlib=rb-1.2.1&q=80&fm=jpg&crop=entropy&cs=tinysrgb&w=2000&fit=max&ixid=eyJhcHBfaWQiOjExNzczfQ","excerpt":"The bank has revealed that its profits fell by 33% in 2019. ","custom_excerpt":"The bank has revealed that its profits fell by 33% in 2019. ","created_at_pretty":"18 February, 2020","published_at_pretty":"18 February, 2020","updated_at_pretty":"18 February, 2020","created_at":"2020-02-18T10:40:26.000+00:00","published_at":"2020-02-18T10:43:55.000+00:00","updated_at":"2020-02-18T10:43:55.000+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\nHSBC profits plunge\nThe bank has revealed that its profits fell by 33% in 2019\n[https://www.bbc.co.uk/news/business-51499776]. HSBC currently employs around\n235,000 people worldwide, and said it’ll aim to let 35,000 people go over the\nnext three years. It’s part of a major restructuring operation to cut costs by\n£3.5 billion.\n\nMore buyers than sellers\nThe house price boom appears to be continuing, as house hunters' demand for\nproperties outstrips supply\n[https://www.cityam.com/uk-house-prices-buyer-boom-sets-scene-for-record-breaking-spring/]\n. 7.2% more people are browsing Rightmove than last year, and the number of\nsales agreed nationally is up 12.3%. The result? The average price of a property\ncoming to market is now just £40 away from hitting an all-time high.\n\nPremium Bond prizes cut\nNational Savings & Investments, the government-backed savings bank that holds 25\nmillion people’s money, has announced it will slash interest rates\n[https://www.thetimes.co.uk/edition/news/government-backed-ns-amp-i-cuts-premium-bond-rates-and-payout-prizes-dh57xkl3t] \n(paywall). In a blow to the beloved Premium Bonds product, it will also reduce\nthe prize pot. 14 other accounts will see an interest rate cut of up to 0.45%.\n\nWe’re feeling good(ish)\nPeople’s verdict on their own financial wellbeing is the most positive it’s\nbeen\nsince 2009\n[https://www.cityam.com/uk-confidence-in-household-finances-hits-record-high/],\naccording to the Household Finance Index (HFI). It hit 47.6 (out of 100) in\nFebruary, up from 44.6 in January. Another index, which measures people’s\nexpectations for the next 12 months, rose to 52.7 suggesting we’re feeling more\noptimistic about the year to come.\n\nBT by the month\nThe broadcaster is set to make its top content more flexible\n[https://www.theguardian.com/business/2020/feb/18/bt-ready-to-break-with-tradition-to-chase-netflix-generation]\n. Viewers will be able to add and remove favourites such as Premier League\nfootball on a monthly basis, rather than getting locked into expensive\ncontracts.","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 bank has revealed that its profits fell by 33% in 2019. HSBC currently employs around 235,000 people worldwide, and said it’ll aim to let 35,000 people go over the next three years. It’s part of a major restructuring operation to cut costs by £3.5 billion.
The house price boom appears to be continuing, as house hunters' demand for properties outstrips supply. 7.2% more people are browsing Rightmove than last year, and the number of sales agreed nationally is up 12.3%. The result? The average price of a property coming to market is now just £40 away from hitting an all-time high.
National Savings & Investments, the government-backed savings bank that holds 25 million people’s money, has announced it will slash interest rates (paywall). In a blow to the beloved Premium Bonds product, it will also reduce the prize pot. 14 other accounts will see an interest rate cut of up to 0.45%.
People’s verdict on their own financial wellbeing is the most positive it’s been since 2009, according to the Household Finance Index (HFI). It hit 47.6 (out of 100) in February, up from 44.6 in January. Another index, which measures people’s expectations for the next 12 months, rose to 52.7 suggesting we’re feeling more optimistic about the year to come.
The broadcaster is set to make its top content more flexible. Viewers will be able to add and remove favourites such as Premier League football on a monthly basis, rather than getting locked into expensive contracts.
","url":"https://multiply.ghost.io/hsbc-in-trouble/","uuid":"b56516dd-186f-4fac-932c-873175fdfeed","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4bbf1ab90d08003812cf5f"}},{"node":{"id":"Ghost__Post__5e4a684eb90d08003812cf47","title":"Funeral costs investigated","slug":"funeral-costs-investigated","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/02/mayron-oliveira-mibn6LLm9kA-unsplash.jpg","excerpt":"At an average cost of £10,000, dying is leaving some families with hefty bills when the deceased doesn’t have enough in their estate.","custom_excerpt":"At an average cost of £10,000, dying is leaving some families with hefty bills when the deceased doesn’t have enough in their estate.","created_at_pretty":"17 February, 2020","published_at_pretty":"17 February, 2020","updated_at_pretty":"17 February, 2020","created_at":"2020-02-17T10:17:50.000+00:00","published_at":"2020-02-17T10:22:17.000+00:00","updated_at":"2020-02-17T10:22:17.000+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":"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\nNo time to die\nAt an average cost of £10,000, dying is leaving some families with hefty bills\nwhen the deceased doesn’t have enough in their estate. These costs have more\nthan doubled [https://www.ft.com/content/93c0cad1-cd91-419a-8163-bda33f13f5d8] \nover the past 15 years, so the Competition and Markets Authority has launched an\ninvestigation to look into these above-inflation rises.\n\nLandlords turn pro\nThe number of private landlords has reduced to a seven-year low, but those still\nin the market have bigger portfolios. Estate agents Hamptons International say\nthat this is a sign that the sector is professionalising\n[https://www.independent.co.uk/news/business/news/housing-market-renters-private-landlords-renting-economy-a9338211.html]\n. Despite this, supply isn’t meeting rental demand, and average rental costs\nhave increased 3.6% this year to £998 per month.\n\nOut of contract\nNew regulations for broadband, mobile, and pay-TV providers means that customers\nmust now be reminded when their contracts are coming to an end. Industry\nregulator Ofcom believes this could save some households up to £150\n[https://www.independent.co.uk/news/business/news/broadband-mobile-phone-contracts-bills-save-ofcom-a9336316.html]\n.\n\nUnable to sell\nUntested cladding is preventing thousands of people from selling or remortgaging\ntheir flats. In the wake of Grenfell, some freeholders still haven’t paid for\ntests to confirm combustibility ratings. Lenders are giving £0 valuations\n[https://www.bbc.co.uk/news/stories-51412328] as a result, with some becoming so\ncautious that even non-combustible cladding is causing problems for owners.","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 an average cost of £10,000, dying is leaving some families with hefty bills when the deceased doesn’t have enough in their estate. These costs have more than doubled over the past 15 years, so the Competition and Markets Authority has launched an investigation to look into these above-inflation rises.
The number of private landlords has reduced to a seven-year low, but those still in the market have bigger portfolios. Estate agents Hamptons International say that this is a sign that the sector is professionalising. Despite this, supply isn’t meeting rental demand, and average rental costs have increased 3.6% this year to £998 per month.
New regulations for broadband, mobile, and pay-TV providers means that customers must now be reminded when their contracts are coming to an end. Industry regulator Ofcom believes this could save some households up to £150.
Untested cladding is preventing thousands of people from selling or remortgaging their flats. In the wake of Grenfell, some freeholders still haven’t paid for tests to confirm combustibility ratings. Lenders are giving £0 valuations as a result, with some becoming so cautious that even non-combustible cladding is causing problems for owners.
","url":"https://multiply.ghost.io/funeral-costs-investigated/","uuid":"2d388fef-c76d-4d25-8ac2-d280a36a2046","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"5e4a684eb90d08003812cf47"}},{"node":{"id":"Ghost__Post__5e46a2f4f9528e003813ce19","title":"Boris’s post-Brexit Budget","slug":"boriss-post-brexit-budget","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/02/philip-veater-mRlmfQ_yVFQ-unsplash.jpg","excerpt":"Sajid Javid’s successor, Rishi Sunak, has just 3 weeks to produce a budget that has already been delayed.","custom_excerpt":"Sajid Javid’s successor, Rishi Sunak, has just 3 weeks to produce a budget that has already been delayed.","created_at_pretty":"14 February, 2020","published_at_pretty":"14 February, 2020","updated_at_pretty":"14 February, 2020","created_at":"2020-02-14T13:39:00.000+00:00","published_at":"2020-02-14T13:46:19.000+00:00","updated_at":"2020-02-14T13:46:19.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"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":"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\nUK Budget uncertainty\nSajid Javid’s successor, Rishi Sunak, has just 3 weeks to produce a budget that\nhas already been delayed. Boris Johnson promises that it will bring a new dawn\nof spending [https://www.telegraph.co.uk/business/0/budget-2020-date-next/] -\nchanges to tax, pensions, housing and social care have been mooted, as well as\nincreased spending in the north of England.\n\nDown on one knee\nStruggling high street retailers are looking to cash in on Valentine’s Day.\nPoundland has already sold 40,000 engagement rings\n[https://www.bbc.co.uk/news/business-51473071] this year - the £1 rings are\nmeant to be used as “placeholders”. Last year, the UK spent £853m last year on\nValentine’s Day, which was up 7.8% from 2018, however some analysts say\nretailers are becoming too reliant on promotional events, using them all year\nround.\n\nJCB takes a sick day\nThe coronavirus outbreak has caused a shortage of parts coming from China. As\ntheir economy grinds to a halt, it’s disrupting supply chains\n[https://www.theguardian.com/business/2020/feb/13/businesses-worldwide-count-cost-coronavirus-outbreak] \nof manufacturers around the world. British digger maker, JCB, has responded by\nreducing working hours for their 4,000 employees. Other industries have been\nimpacted too - flight cancellations, retail store closures, and a reduced demand\nfor oil in China, has the EU worried about global growth.","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.
Sajid Javid’s successor, Rishi Sunak, has just 3 weeks to produce a budget that has already been delayed. Boris Johnson promises that it will bring a new dawn of spending - changes to tax, pensions, housing and social care have been mooted, as well as increased spending in the north of England.
Struggling high street retailers are looking to cash in on Valentine’s Day. Poundland has already sold 40,000 engagement rings this year - the £1 rings are meant to be used as “placeholders”. Last year, the UK spent £853m last year on Valentine’s Day, which was up 7.8% from 2018, however some analysts say retailers are becoming too reliant on promotional events, using them all year round.
The coronavirus outbreak has caused a shortage of parts coming from China. As their economy grinds to a halt, it’s disrupting supply chains of manufacturers around the world. British digger maker, JCB, has responded by reducing working hours for their 4,000 employees. Other industries have been impacted too - flight cancellations, retail store closures, and a reduced demand for oil in China, has the EU worried about global growth.
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