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The sun has finally come out, but pubs are still expecting to sell 21 million fewer pints than normal this bank holiday weekend. The rain has put a damper on pub reopenings, and social distancing measures mean they can’t accept as many punters. They’re calling for all restrictions to end on 21st June - but with cases of the Indian variant rising, the decision seems to be hanging in the balance.
Lenders have warned that struggling homeowners are slipping into arrears† while they wait for mortgage support to kick in. The Support for Mortgage Interest (SMI) scheme helps homeowners on benefits by paying the interest on mortgages of up to £200,000. But homeowners have to wait 39 weeks after losing their job to make a claim, and lenders say it’s too late for many.
Brits flocked to restaurants after indoor dining restarted on 17th May, making 32% more bookings than the same period in 2019. The proportion of employees on furlough fell to 8% in the first 2 weeks of May according to the Office for National Statistics. That’s the lowest since the start of the year.
Business confidence has risen to a 5-year high in the UK - but dipped in London. The Lloyds Bank Business Barometer measures how optimistic firms are feeling about the economy. National optimism has climbed to 38%, but the post-lockdown buzz has faded in the capital where optimism has dropped to 24%.
","url":"https://multiply.ghost.io/21-million-missing-pints/","uuid":"b06e764a-2fb4-4eb3-b98e-09a40384b0d3","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60b0a790fcd600003bbc8782"}},{"node":{"id":"Ghost__Post__60af63a7fcd600003bbc876c","title":"Advisers giving “random” recommendations?","slug":"advisers-giving-random-recommendations","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/452.png","excerpt":"Plus: hospitality’s on a hiring spree, Pets at Home revenues boom, and Uber drivers get union representation.","custom_excerpt":"Plus: hospitality’s on a hiring spree, Pets at Home revenues boom, and Uber drivers get union representation.","created_at_pretty":"27 May, 2021","published_at_pretty":"27 May, 2021","updated_at_pretty":"09 June, 2021","created_at":"2021-05-27T09:17:27.000+00:00","published_at":"2021-05-27T09:24:48.000+00:00","updated_at":"2021-06-09T15:50:57.000+00:00","meta_title":"Advisers giving “random” recommendations?","meta_description":"Plus: hospitality’s on a hiring spree, Pets at Home revenues boom, and Uber drivers get union representation.","og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Random advice\nIf a financial adviser skips lunch, it could affect what they tell you\n[https://inews.co.uk/inews-lifestyle/money/investing/what-did-your-adviser-have-for-breakfast-it-could-affect-where-they-tell-you-to-invest-1018110] \nto do with your money. Research by Oxford Risk found that a group of advisers\ngave wildly different advice to the same hypothetical client, based on factors\nlike their mood, time since their last meal, and the weather. Also, advisers who\nare married or who went to uni are more likely to recommend lower risk\ninvestments.\n\nHospitality hiring spree\nHotels, bars, and restaurants are taking on new staff\n[https://news.sky.com/story/consumer-facing-jobs-grow-at-fastest-pace-for-more-than-five-years-on-rebound-hopes-12317996] \nat the fastest rate since 2015, according to a survey by the Confederation of\nBritish Industry. The services sector, which also include accountancy and legal\nfirms, makes up almost 80% of the UK’s output. Companies are optimistic about\nthe next few months, as the economy begins its predicted bounceback from the\ncoronavirus recession.\n\nPet boom\nPets at Home revenue jumped 8% in the last year,\n[https://www.cityam.com/sales-at-pets-at-home-boom-as-brits-buy-furry-companions/] \nas locked down Brits turned to animals for comfort. Pet sales soared among\npeople working from home, with many looking for ways to avoid loneliness, reduce\nstress, and get out for walkies.\n\nUber drivers unionise\nUber will now recognise the GMB Union\n[https://www.reuters.com/business/sustainable-business/ubers-uk-drivers-gain-collective-bargaining-with-union-recognition-2021-05-26/]\n, allowing it to represent and negotiate on behalf of its 70,000 drivers.\nThey’ll have quarterly meetings on issues such as pay, pensions, and safety.\nUber has a long history of disputes with unions, but says it puts drivers first.\nIn March, drivers gained workers’ rights following a Supreme Court ruling.","html":"If a financial adviser skips lunch, it could affect what they tell you to do with your money. Research by Oxford Risk found that a group of advisers gave wildly different advice to the same hypothetical client, based on factors like their mood, time since their last meal, and the weather. Also, advisers who are married or who went to uni are more likely to recommend lower risk investments.
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Hotels, bars, and restaurants are taking on new staff at the fastest rate since 2015, according to a survey by the Confederation of British Industry. The services sector, which also include accountancy and legal firms, makes up almost 80% of the UK’s output. Companies are optimistic about the next few months, as the economy begins its predicted bounceback from the coronavirus recession.
Pets at Home revenue jumped 8% in the last year, as locked down Brits turned to animals for comfort. Pet sales soared among people working from home, with many looking for ways to avoid loneliness, reduce stress, and get out for walkies.
Uber will now recognise the GMB Union, allowing it to represent and negotiate on behalf of its 70,000 drivers. They’ll have quarterly meetings on issues such as pay, pensions, and safety. Uber has a long history of disputes with unions, but says it puts drivers first. In March, drivers gained workers’ rights following a Supreme Court ruling.
","url":"https://multiply.ghost.io/advisers-giving-random-recommendations/","uuid":"042cd6be-8c0d-4299-a0ae-676584cf6a53","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60af63a7fcd600003bbc876c"}},{"node":{"id":"Ghost__Post__60ae18e6fcd600003bbc8730","title":"1.52m home sales forecast","slug":"1-52m-home-sales-forecast","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/Frame-100.png","excerpt":"Plus: financial institutions bad for climate, ASA bans Bitcoin ad, young people struggle with personal finance","custom_excerpt":"Plus: financial institutions bad for climate, ASA bans Bitcoin ad, young people struggle with personal finance","created_at_pretty":"26 May, 2021","published_at_pretty":"26 May, 2021","updated_at_pretty":"26 May, 2021","created_at":"2021-05-26T09:46:14.000+00:00","published_at":"2021-05-26T10:02:08.000+00:00","updated_at":"2021-05-26T13:15:56.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Home sale boom forecast\nZoopla is projecting 1.52m home sales in 2021 - a rise of 45% on 2020\n[https://www.theguardian.com/business/2021/may/26/value-of-uk-house-sales-forecast-to-leap-46-this-year-as-boom-continues]\n. They claim their forecast is based on the largest underlying data sample of\nany UK house price index. Last week the Office for National Statistics reported\nthat UK house prices had increased by 10.2% in a year. Demand for family houses\noutside of London is exerting upward pressure on prices.\n\nBanks bad for climate\nGreenpeace research suggests finance is one of the biggest contributors to\nclimate change\n[https://www.cityam.com/financial-services-industry-is-one-of-the-uks-biggest-contributors-to-climate-change/] \nin the UK. The report claims that if the City of London were a country, it would\nbe the ninth biggest emitter of CO2, ahead of Germany. Campaigners say without\nproper regulation, financial institutions are not required to align their\nactivities with the UK’s climate commitments. \n\nBitcoin ad banned\nThe Advertising Standards Authority has banned a high-profile campaign\n[https://www.theguardian.com/media/2021/may/26/time-to-buy-bitcoin-adverts-banned-uk-asa] \nthat featured heavily across London’s transport network, which ran with the\nstrapline “If you’re seeing Bitcoin on the underground, it’s time to buy”. The\nASA received complaints that the ads failed to illustrate the risks, and were\ntherefore misleading. The ban comes a week after Bitcoin prices plunged as much\nas 30% in a day.\n\nPersonal finance struggles\nA new study suggests that young people are more likely to use social media\nplatforms like TikTok and Instagram to access financial advice than go to a\nbank. Nearly half of 16-24 year olds wouldn’t say they were confident with\ntheir\nfinances\n[https://www.cityam.com/cash-clueless-nearly-half-of-brits-dont-know-what-an-overdraft-or-mortgage-is/]\n, and one in 10 claim to have no confidence at all. Just a fifth knew what an\noverdraft was, and only 5 per cent claimed to know the meaning of arrears.","html":"Zoopla is projecting 1.52m home sales in 2021 - a rise of 45% on 2020. They claim their forecast is based on the largest underlying data sample of any UK house price index. Last week the Office for National Statistics reported that UK house prices had increased by 10.2% in a year. Demand for family houses outside of London is exerting upward pressure on prices.
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Greenpeace research suggests finance is one of the biggest contributors to climate change in the UK. The report claims that if the City of London were a country, it would be the ninth biggest emitter of CO2, ahead of Germany. Campaigners say without proper regulation, financial institutions are not required to align their activities with the UK’s climate commitments.
The Advertising Standards Authority has banned a high-profile campaign that featured heavily across London’s transport network, which ran with the strapline “If you’re seeing Bitcoin on the underground, it’s time to buy”. The ASA received complaints that the ads failed to illustrate the risks, and were therefore misleading. The ban comes a week after Bitcoin prices plunged as much as 30% in a day.
![](\"https://multiply.ghost.io/content/images/2021/05/Frame-103-1.png\")
A new study suggests that young people are more likely to use social media platforms like TikTok and Instagram to access financial advice than go to a bank. Nearly half of 16-24 year olds wouldn’t say they were confident with their finances, and one in 10 claim to have no confidence at all. Just a fifth knew what an overdraft was, and only 5 per cent claimed to know the meaning of arrears.
![](\"https://multiply.ghost.io/content/images/2021/05/Frame-106.png\")
The government has warned sunseekers against taking a trip to Spain unless they really need to. Spain has opened its borders to British travellers, so tourists can fly in without quarantine or a negative test. But it’s on the UK’s amber list, which means essential travel only - and testing and quarantine on the way back
Businesses and the government should put Brexit behind them and look ahead, according to the Confederation of British Industry (CBI). The employers’ organisation wants everyone to focus on building a greener, fairer economy. In a new report, “Seize the Moment”, it says the UK could generate an extra £700 billion economic growth by 2030 by tackling long term challenges like decarbonisation and reducing inequality.
Ofgem, the government department for energy, has put £300 million into building new charging stations for electric vehicles. It says the expansion will triple the current network, and help to support the UK’s plans to hit net zero emissions by 2050.
","url":"https://multiply.ghost.io/spain-holiday-warning/","uuid":"f258fc56-111a-4067-bb3c-891d914d150b","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60ab71b8fcd600003bbc8722"}},{"node":{"id":"Ghost__Post__60a76e63fcd600003bbc86ee","title":"Brits hit the high street","slug":"brits-hit-the-high-street","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/449.png","excerpt":"Plus: consumer confidence back to pre-pandemic highs and plastic bags now cost 10p.","custom_excerpt":"Plus: consumer confidence back to pre-pandemic highs and plastic bags now cost 10p.","created_at_pretty":"21 May, 2021","published_at_pretty":"21 May, 2021","updated_at_pretty":"21 May, 2021","created_at":"2021-05-21T08:25:07.000+00:00","published_at":"2021-05-21T08:26:23.000+00:00","updated_at":"2021-05-21T08:26:23.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Retail surge\nRetail sales surged 9.2% in April\n[https://news.sky.com/story/covid-19-help-for-high-streets-as-retail-sales-surge-after-lockdown-hit-12312417] \naccording to the Office for National Statistics, as nonessential shops reopened\ntheir doors for the first time this year. That’s far higher than most economists\nhad predicted. Many shoppers ditched online shopping in favour of bricks and\nmortar browsing, leading to a 5.6% dip in online sales. And fashion led the\ncharge with a 70% jump in clothing sales.\n\n\nHappy spenders\nUK consumers feel as good as they did in March 2020, before the full effects of\nthe pandemic hit home. The GfK consumer confidence index has been rising since\nJanuary and hit -9 in April\n[https://www.reuters.com/world/uk/uk-consumers-regain-pre-covid-confidence-level-gfk-2021-05-20/]\n. That doesn’t sound very high, but it means the public is in a better financial\nmood than it has been for over a year. Banks and businesses follow this data to\nunderstand how likely we are to go out and spend in the economy.\n\n\n10p plastic bags\nSingle-use bags now cost 10p [https://www.bbc.co.uk/news/business-57193108] in\nall shops in England, as a 5p price increase takes effect today. The original 5p\ncharge was brought in in 2015 and has been incredibly effective - plastic bag\nuse has gone down 95%. Environmental groups want the government to go further\nand ban so-called “bags for life” which contain more plastic and are often just\nused once.","html":"Retail sales surged 9.2% in April according to the Office for National Statistics, as nonessential shops reopened their doors for the first time this year. That’s far higher than most economists had predicted. Many shoppers ditched online shopping in favour of bricks and mortar browsing, leading to a 5.6% dip in online sales. And fashion led the charge with a 70% jump in clothing sales.
UK consumers feel as good as they did in March 2020, before the full effects of the pandemic hit home. The GfK consumer confidence index has been rising since January and hit -9 in April. That doesn’t sound very high, but it means the public is in a better financial mood than it has been for over a year. Banks and businesses follow this data to understand how likely we are to go out and spend in the economy.
Single-use bags now cost 10p in all shops in England, as a 5p price increase takes effect today. The original 5p charge was brought in in 2015 and has been incredibly effective - plastic bag use has gone down 95%. Environmental groups want the government to go further and ban so-called “bags for life” which contain more plastic and are often just used once.
","url":"https://multiply.ghost.io/brits-hit-the-high-street/","uuid":"06f519fe-0443-4a17-9991-bb4ea309e260","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60a76e63fcd600003bbc86ee"}},{"node":{"id":"Ghost__Post__60a61f4bfcd600003bbc851f","title":"China's crypto crackdown","slug":"chinas-crypto-crackdown","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/448.png","excerpt":"Plus: house prices jump 10%, demand returns for city-centre flats, and train tickets are getting cheaper.","custom_excerpt":"Plus: house prices jump 10%, demand returns for city-centre flats, and train tickets are getting cheaper.","created_at_pretty":"20 May, 2021","published_at_pretty":"20 May, 2021","updated_at_pretty":"20 May, 2021","created_at":"2021-05-20T08:35:23.000+00:00","published_at":"2021-05-20T08:38:29.000+00:00","updated_at":"2021-05-20T08:38:29.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Crypto crash\nThe price of Bitcoin plummeted to below $34,000 yesterday on news that China\nbanned banks and payment firms [about:blank] from offering crypto-related\nservices. It’s since recovered some ground. Cryptocurrency trading has been\nillegal in China since 2019, but 75% of Bitcoin mining still happens there. This\nmove marks a new effort by the Chinese government to crack down on crypto\nactivity.\n\nHouse prices jump\nIt’s official: house prices surged 10.2% in the year to March 2021\n[https://www.reuters.com/world/europe/uk-house-prices-jump-10-fastest-rate-since-2007-ons-2021-05-19/]\n. That’s the biggest annual rise since 2007, according to the Office for\nNational Statistics. The data confirms the trend for people moving away from\nurban areas in search of more space. Detached houses have seen the biggest\nrises, while flats dawdled at 5%. And Yorkshire tops the table with 14% regional\ngrowth, compared to just 3.7% in London.\n\nReturn to the city?\nBuyer demand for city-centre flats is coming back\n[https://www.reuters.com/world/europe/uk-house-prices-jump-10-fastest-rate-since-2007-ons-2021-05-19/]\n, according to Rightmove data. Searches on the property site tell a new story:\nflats are the most in-demand property type at the moment, for the first time in\n10 years. Plus, searches for city-centre homes have risen 35% since January.\n\nGreat British Railways\nNew flexible season tickets will go on sale on 21st June [about:blank] as part\nof new government plans to modernise the railways. A new state-owned body, Great\nBritish Railways (GBR) will set ticket prices and timetables from 2023.\nApparently, the changes will mean cheaper and more flexible tickets, and trains\nthat run on time.","html":"The price of Bitcoin plummeted to below $34,000 yesterday on news that China banned banks and payment firms from offering crypto-related services. It’s since recovered some ground. Cryptocurrency trading has been illegal in China since 2019, but 75% of Bitcoin mining still happens there. This move marks a new effort by the Chinese government to crack down on crypto activity.
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It’s official: house prices surged 10.2% in the year to March 2021. That’s the biggest annual rise since 2007, according to the Office for National Statistics. The data confirms the trend for people moving away from urban areas in search of more space. Detached houses have seen the biggest rises, while flats dawdled at 5%. And Yorkshire tops the table with 14% regional growth, compared to just 3.7% in London.
![](\"https://multiply.ghost.io/content/images/2021/05/image-9.png\")
Buyer demand for city-centre flats is coming back, according to Rightmove data. Searches on the property site tell a new story: flats are the most in-demand property type at the moment, for the first time in 10 years. Plus, searches for city-centre homes have risen 35% since January.
New flexible season tickets will go on sale on 21st June as part of new government plans to modernise the railways. A new state-owned body, Great British Railways (GBR) will set ticket prices and timetables from 2023. Apparently, the changes will mean cheaper and more flexible tickets, and trains that run on time.
","url":"https://multiply.ghost.io/chinas-crypto-crackdown/","uuid":"36e4f15a-11aa-4186-8c8d-fe77adfb6664","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60a61f4bfcd600003bbc851f"}},{"node":{"id":"Ghost__Post__60a4d26bfcd600003bbc8504","title":"Clothes prices rise","slug":"clothes-prices-risinguni","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/447.png","excerpt":"Plus: Boris Johnson's warning to holiday-goers, worst face masks revealed.","custom_excerpt":"Plus: Boris Johnson's warning to holiday-goers, worst face masks revealed.","created_at_pretty":"19 May, 2021","published_at_pretty":"19 May, 2021","updated_at_pretty":"19 May, 2021","created_at":"2021-05-19T08:55:07.000+00:00","published_at":"2021-05-19T09:07:49.000+00:00","updated_at":"2021-05-19T13:15:15.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Price inflation\nThe annual UK inflation rate more than doubled to 1.5% in April\n[https://www.bbc.co.uk/news/business-57165266], driven by higher clothing and\nenergy prices. The Bank of England aims to keep it at 2%. Prices are now rising\nat their fastest rate since March 2020, and petrol prices are at their highest\nsince January last year. Inflation has been low throughout the pandemic, but is\nrising now as people start to spend more.\n\nDon’t go to amber countries\nBoris Johnson has warned against going on holiday\n[https://www.bbc.co.uk/news/business-57158372] to countries in the government’s\namber list. It comes after reports that some holiday companies are refusing to\ngive refunds for cancelled trips to amber-rated destinations. There are lots of\ntourist hotspots on that list, including Greece, France, Spain, and Italy.\n\nWorst face masks revealed\nSome reusable face masks have “alarming flaws” according to Which?. The consumer\nwatchdog tested a range of masks\n[https://news.sky.com/story/covid-19-the-best-and-worst-face-masks-on-the-high-street-revealed-as-which-says-some-have-alarming-flaws-12310479] \nand found the worst one: an Adidas mask that filters out only a third of\nparticles. The best? The Airpop Pocket, which managed to block 99% of particles,\nmaking it as effective as a disposable mask.","html":"The annual UK inflation rate more than doubled to 1.5% in April, driven by higher clothing and energy prices. The Bank of England aims to keep it at 2%. Prices are now rising at their fastest rate since March 2020, and petrol prices are at their highest since January last year. Inflation has been low throughout the pandemic, but is rising now as people start to spend more.
![](\"https://multiply.ghost.io/content/images/2021/05/image-6.png\")
Boris Johnson has warned against going on holiday to countries in the government’s amber list. It comes after reports that some holiday companies are refusing to give refunds for cancelled trips to amber-rated destinations. There are lots of tourist hotspots on that list, including Greece, France, Spain, and Italy.
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Some reusable face masks have “alarming flaws” according to Which?. The consumer watchdog tested a range of masks and found the worst one: an Adidas mask that filters out only a third of particles. The best? The Airpop Pocket, which managed to block 99% of particles, making it as effective as a disposable mask.
","url":"https://multiply.ghost.io/clothes-prices-risinguni/","uuid":"1c128bb7-0ca2-4119-8bd9-5aeeea5eba71","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60a4d26bfcd600003bbc8504"}},{"node":{"id":"Ghost__Post__60a3786efcd600003bbc84fa","title":"Unemployment falls (again)","slug":"unemployment-falls-again","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/446.png","excerpt":"Plus: job vacancies at highest since March 2020, long Covid compensation decision could take a year.","custom_excerpt":"Plus: job vacancies at highest since March 2020, long Covid compensation decision could take a year.","created_at_pretty":"18 May, 2021","published_at_pretty":"18 May, 2021","updated_at_pretty":"18 May, 2021","created_at":"2021-05-18T08:18:54.000+00:00","published_at":"2021-05-18T08:19:19.000+00:00","updated_at":"2021-05-18T08:19:19.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"More jobs\nThe unemployment rate fell unexpectedly to 4.8%\n[https://www.reuters.com/world/europe/uk-unemployment-rate-unexpectedly-rate-fell-q1-ons-2021-05-18/] \nin the first 3 months of the year - that’s 0.1% lower than it was at the end of\n2020. The data comes from the Office for National Statistics and suggests the\njobs market held its own during the latest lockdown, supported by the furlough\nscheme. There are still 772,000 fewer people on payrolls than in February 2021,\nbut hiring picked up again in April.\n\nMore job vacancies\nIn more good news for job hunters, vacancies have hit their highest level\n[https://www.bbc.co.uk/news/business-57154345] since the start of the pandemic.\nThere were 657,000 vacancies between February and April, and the hiring spree\nseems set to continue as businesses reopen after lockdown. These official\nfigures confirm what we’ve been hearing from job sites and recruiters over the\npast few weeks.\n\nLong Covid compensation?\nIt could take a year for the government to decide whether key workers with long\nCovid should get compensation [https://www.bbc.co.uk/news/uk-57146120]. 65 MPs\nand peers want it to be recognised as an “occupational disease” as many caught\nit at work. More than a million people in the UK, including 120,000 healthcare\nworkers, have long Covid symptoms and many of them are unable to work.","html":"The unemployment rate fell unexpectedly to 4.8% in the first 3 months of the year - that’s 0.1% lower than it was at the end of 2020. The data comes from the Office for National Statistics and suggests the jobs market held its own during the latest lockdown, supported by the furlough scheme. There are still 772,000 fewer people on payrolls than in February 2021, but hiring picked up again in April.
In more good news for job hunters, vacancies have hit their highest level since the start of the pandemic. There were 657,000 vacancies between February and April, and the hiring spree seems set to continue as businesses reopen after lockdown. These official figures confirm what we’ve been hearing from job sites and recruiters over the past few weeks.
It could take a year for the government to decide whether key workers with long Covid should get compensation. 65 MPs and peers want it to be recognised as an “occupational disease” as many caught it at work. More than a million people in the UK, including 120,000 healthcare workers, have long Covid symptoms and many of them are unable to work.
","url":"https://multiply.ghost.io/unemployment-falls-again/","uuid":"31e488c6-dda1-4b9f-9553-d7b83330fc4f","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60a3786efcd600003bbc84fa"}},{"node":{"id":"Ghost__Post__60a22a2cfcd600003bbc84e7","title":"Asking prices hit new record","slug":"asking-prices-hit-new-record","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/445.png","excerpt":"Plus: crypto homebuyers rejected by lenders, pubs and restaurants struggling to hire, fake test certificates.","custom_excerpt":"Plus: crypto homebuyers rejected by lenders, pubs and restaurants struggling to hire, fake test certificates.","created_at_pretty":"17 May, 2021","published_at_pretty":"17 May, 2021","updated_at_pretty":"17 May, 2021","created_at":"2021-05-17T08:32:44.000+00:00","published_at":"2021-05-17T08:53:41.000+00:00","updated_at":"2021-05-17T08:53:41.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Asking prices surge\nThe average asking price for homes in the UK has surged to £333,767\n[https://www.reuters.com/world/uk/uk-house-prices-boom-outside-london-rightmove-2021-05-16/] \nin May, the highest ever. The data comes from Rightmove and shows double-digit\nprice growth in Wales and north west England since March 2020. Meanwhile, asking\nprices in London have grown by just 0.2%.\n\nCrypto buyers blocked\nHomebuyers using profits from cryptocurrency trades for their deposit are being \nrejected by solicitors and lenders\n[https://www.telegraph.co.uk/investing/shares/tried-use-crypto-profits-buy-1m-house-lawyer-blocked/]\n. Mortgage brokers are reporting an increase in the number of buyers who made\ntheir money in crypto. Many have resorted to hiring “forensic accountants” to\nshow how they made the money and prove their profits are clean.\n\n\nStaff shortages\nBars, restaurants, and hotels are hiring at their fastest rate for 8 years but \ncould struggle to fill vacancies\n[https://www.theguardian.com/business/2021/may/17/uk-faces-labour-shortage-as-covid-and-brexit-fuel-exodus-of-overseas-workers] \naccording to the Chartered Institute of Personnel and Development (CIPD). Many\nEU workers have left the country amid Brexit and the pandemic. Data from job\nsite Adzuna tells the same story, with 18% more job ads than 6 months ago but\nhalf the number of searches from Western Europe and North America.\n\nCovid fakes\nIf you know where to go, you can buy a fake NHS vaccine card\n[https://www.theguardian.com/world/2021/may/16/fake-covid-vaccine-and-test-certificate-market-is-growing-researchers-say] \nor test certificate for just £25. There are now more than 1,200 vendors in the\nUK selling the forgeries to people hoping to get around strict travel rules.\nWho’s buying them? Anti-vaxxers apparently, and people coming to the UK from\npoorer nations.","html":"The average asking price for homes in the UK has surged to £333,767 in May, the highest ever. The data comes from Rightmove and shows double-digit price growth in Wales and north west England since March 2020. Meanwhile, asking prices in London have grown by just 0.2%.
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Homebuyers using profits from cryptocurrency trades for their deposit are being rejected by solicitors and lenders. Mortgage brokers are reporting an increase in the number of buyers who made their money in crypto. Many have resorted to hiring “forensic accountants” to show how they made the money and prove their profits are clean.
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Bars, restaurants, and hotels are hiring at their fastest rate for 8 years but could struggle to fill vacancies according to the Chartered Institute of Personnel and Development (CIPD). Many EU workers have left the country amid Brexit and the pandemic. Data from job site Adzuna tells the same story, with 18% more job ads than 6 months ago but half the number of searches from Western Europe and North America.
If you know where to go, you can buy a fake NHS vaccine card or test certificate for just £25. There are now more than 1,200 vendors in the UK selling the forgeries to people hoping to get around strict travel rules. Who’s buying them? Anti-vaxxers apparently, and people coming to the UK from poorer nations.
","url":"https://multiply.ghost.io/asking-prices-hit-new-record/","uuid":"5c197d84-ffa7-4260-8ff3-f2ab26389047","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"60a22a2cfcd600003bbc84e7"}},{"node":{"id":"Ghost__Post__609e3073fcd600003bbc84d9","title":"Beer’s back","slug":"beers-back","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/444.png","excerpt":"Plus: UK wants to end coal financing, and it’s too late for a “fish for finance” deal.","custom_excerpt":"Plus: UK wants to end coal financing, and it’s too late for a “fish for finance” deal.","created_at_pretty":"14 May, 2021","published_at_pretty":"14 May, 2021","updated_at_pretty":"14 May, 2021","created_at":"2021-05-14T08:10:27.000+00:00","published_at":"2021-05-14T08:15:05.000+00:00","updated_at":"2021-05-14T08:15:05.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Pint sales soar\nPubs and restaurants saw their sales rebound in April\n[https://www.cityam.com/pub-and-restaurant-sales-bounce-back-in-april-ahead-of-full-reopening/]\n, after many opened for outside service from the 12th. With good weather and\neager punters on their side, pubs bounced back to 80% of pre-pandemic sales.\nRestaurants lagged slightly behind at 70%.\n\nEnd coal cash?\nThe government wants a global agreement to stop funding coal projects\n[https://www.reuters.com/business/sustainable-business/uk-wants-global-deal-stop-financing-coal-projects-2021-05-13/] \nas part of the Glasgow COP climate summit in November. Britain gets just 2% of\nits electricity from coal, down from 40% in 2020. But our banks are still\nfinancing coal projects in other countries like China where it’s widely used.\n\nFish for finance\nIt’s too late to strike a finance deal\n[https://www.cityam.com/too-late-for-uk-eu-fish-for-finance-deal-say-city-of-london-corporation/] \nthat would give the City access to European markets, according to a Cityof\nLondon Corporation official. UK financial firms have been shut out of the EU\nsince 31st December when the Brexit transition deal ended. French ministers say\nthey’ll block any deal unless their fishermen get more access to British fishing\nwaters.","html":"Pubs and restaurants saw their sales rebound in April, after many opened for outside service from the 12th. With good weather and eager punters on their side, pubs bounced back to 80% of pre-pandemic sales. Restaurants lagged slightly behind at 70%.
The government wants a global agreement to stop funding coal projects as part of the Glasgow COP climate summit in November. Britain gets just 2% of its electricity from coal, down from 40% in 2020. But our banks are still financing coal projects in other countries like China where it’s widely used.
It’s too late to strike a finance deal that would give the City access to European markets, according to a Cityof London Corporation official. UK financial firms have been shut out of the EU since 31st December when the Brexit transition deal ended. French ministers say they’ll block any deal unless their fishermen get more access to British fishing waters.
","url":"https://multiply.ghost.io/beers-back/","uuid":"ce49389d-5bf2-45d4-bac5-fbd4dda47321","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"609e3073fcd600003bbc84d9"}},{"node":{"id":"Ghost__Post__609ceb83fcd600003bbc84c5","title":"Tesla rejects Bitcoin","slug":"tesla-rejects-bitcoin","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/443.png","excerpt":"Plus: house prices are inflating like it’s the 80s, and back to the office on 21st June?","custom_excerpt":"Plus: house prices are inflating like it’s the 80s, and back to the office on 21st June?","created_at_pretty":"13 May, 2021","published_at_pretty":"13 May, 2021","updated_at_pretty":"13 May, 2021","created_at":"2021-05-13T09:04:03.000+00:00","published_at":"2021-05-13T09:10:12.000+00:00","updated_at":"2021-05-13T09:10:12.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"Tesla rejects Bitcoin\nPlanning to buy a Tesla with Bitcoin? You may have missed your chance. Tesla has \nsuspended Bitcoin purchases [https://www.bbc.co.uk/news/business-57096305] due\nto environmental concerns. Bitcoin uses a huge amount of energy to create (mine)\nnew currency and to process transactions, and at the moment that’s coming from\nburning fossil fuels like coal. Musk says Tesla will hang onto the £1 billion of\nBitcoin it bought in February and use it when the cryptocurrency goes green.\n\nHouse price inflation\nA UK house price gauge has hit its highest level since 1988\n[https://www.reuters.com/world/uk/uk-housing-market-boom-loses-steam-rics-2021-02-11/]\n, according to the Royal Institute of Chartered Surveyors (RICS). More of its\nproperty surveyors are reporting house price rises than at any other time in the\nlast 3 decades. It also says buyer demand is going up in every region in the\ncountry, but the number of properties coming to the market has slumped since\nMarch.\n\nBack to the office?\nBoris Johnson says the advice to work from home will come to an end on 21st June\n[https://www.cityam.com/boris-johnson-confirms-working-from-home-advice-set-to-go-on-21-june/]\n, as long as the coronavirus roadmap continues as planned. The issues of social\ndistancing and the future of work are still under review ahead of the next step\nof lockdown easing.","html":"Planning to buy a Tesla with Bitcoin? You may have missed your chance. Tesla has suspended Bitcoin purchases due to environmental concerns. Bitcoin uses a huge amount of energy to create (mine) new currency and to process transactions, and at the moment that’s coming from burning fossil fuels like coal. Musk says Tesla will hang onto the £1 billion of Bitcoin it bought in February and use it when the cryptocurrency goes green.
A UK house price gauge has hit its highest level since 1988, according to the Royal Institute of Chartered Surveyors (RICS). More of its property surveyors are reporting house price rises than at any other time in the last 3 decades. It also says buyer demand is going up in every region in the country, but the number of properties coming to the market has slumped since March.
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Boris Johnson says the advice to work from home will come to an end on 21st June, as long as the coronavirus roadmap continues as planned. The issues of social distancing and the future of work are still under review ahead of the next step of lockdown easing.
","url":"https://multiply.ghost.io/tesla-rejects-bitcoin/","uuid":"d9228344-9c19-49d5-9e46-1bb13eea6d19","page":null,"codeinjection_foot":null,"codeinjection_head":null,"codeinjection_styles":null,"comment_id":"609ceb83fcd600003bbc84c5"}},{"node":{"id":"Ghost__Post__609b9287fcd600003bbc84b3","title":"Economy takes tiny dip","slug":"economy-takes-tiny-dip","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/05/442.png","excerpt":"Plus: London rents at their cheapest in a decade, City losing business to Wall Street.","custom_excerpt":"Plus: London rents at their cheapest in a decade, City losing business to Wall Street.","created_at_pretty":"12 May, 2021","published_at_pretty":"12 May, 2021","updated_at_pretty":"12 May, 2021","created_at":"2021-05-12T08:32:07.000+00:00","published_at":"2021-05-12T08:33:23.000+00:00","updated_at":"2021-05-12T08:33:23.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"First quarter fall\nThe economy only shrank 1.5% [https://www.bbc.co.uk/news/business-57083394] in\nthe first 3 months of the year according to official numbers from the Office for\nNational Statistics. Not bad considering the country was in lockdown the whole\ntime. March marked the start of the bounce back; GDP grew 2.1% in a month as\nschools reopened and retail picked up. Overall, it’s still 8.7% smaller than\nbefore the pandemic, but the Bank of England thinks we’ll recover most of the\nlost ground this year.\n\nAffordable London rents\nLondon isn’t known for being an affordable place to rent. But prices in the\ncapital have fallen to their cheapest in a decade\n[https://www.cityam.com/london-rents-fall-to-most-affordable-level-in-a-decade/]\n, down 9.4% from last year. Meanwhile, demand for space during lockdown has\ndriven rents up elsewhere, with prices in the north east and south west of the\ncountry rising fastest.\n\nLosing out to Wall Street\nThe City of London lost £2.3 trillion of trades in March\n[https://www.cityam.com/derivatives-hit-city-of-london-suffers-2-3-trillion-brexit-loss-in-a-single-month/] \nas derivatives traders took their business across the pond. 40% of Euro-based\ntrading used to happen via British clearing houses - it’s now around 10%\naccording to research by Deloitte and IHS Markit. The culprit? Brexit. EU firms\nare blocked from using British platforms for derivatives trading under new\nrules.","html":"The economy only shrank 1.5% in the first 3 months of the year according to official numbers from the Office for National Statistics. Not bad considering the country was in lockdown the whole time. March marked the start of the bounce back; GDP grew 2.1% in a month as schools reopened and retail picked up. Overall, it’s still 8.7% smaller than before the pandemic, but the Bank of England thinks we’ll recover most of the lost ground this year.
London isn’t known for being an affordable place to rent. But prices in the capital have fallen to their cheapest in a decade, down 9.4% from last year. Meanwhile, demand for space during lockdown has driven rents up elsewhere, with prices in the north east and south west of the country rising fastest.
![](\"https://multiply.ghost.io/content/images/2021/05/image-2.png\")
The City of London lost £2.3 trillion of trades in March as derivatives traders took their business across the pond. 40% of Euro-based trading used to happen via British clearing houses - it’s now around 10% according to research by Deloitte and IHS Markit. The culprit? Brexit. EU firms are blocked from using British platforms for derivatives trading under new rules.
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