Suez tailbacks costing billions

The 1-minute read to get all the money news plus expert adviser views.

Ever Given still stranded

The mega-container ship stuck in the Suez canal is holding up £7 billion of global trade every day - and it could be there for weeks. The Ever Given got lodged earlier this week, causing huge tailbacks. The delayed ships at either end are loaded up with oil, furniture, clothing, and other goods.

Retail rebound

We bought slightly more stuff last month, especially garden furniture and DIY supplies. Overall sales volumes rose 2.1% in February - a small bounce from the 8% nosedive we saw in January as the third national lockdown took hold. 36% of all shopping was done online - another record, according to the Office for National Statistics.

FCA failing investors?

The Financial Conduct Authority needs to do more to warn investors about investment scams and fake websites, according to Which?. The number of rogue investing sites more than doubled last year, from 573 to 1,184, and the regulator is struggling to keep up. It publishes an online warning list of known scams, but Which? says there are many unaccounted for, and they give FCA the slip too easily.

Even more on furlough

Over 100,000 more companies turned to the furlough scheme in January, pushing the total relying on the payouts to 858,629. Many other businesses increased their ask, with pub chains JD Wetherspoon and Mitchells & Butlers remaining the largest claimants in January.