December’s high public borrowing is driven by energy support and debt expenses.

Creative Media NewsMonday, 23 January 2023, 14:000

Ministers are likely to use the most recent data to buttress their position that public sector pay demands are unaffordable. December had the greatest level of government borrowing since records began, according to official data. The Office for National Statistics (ONS) reported a total of £27.4 billion, an increase of about £17 billion compared to...

Former Virgin Money CEO Jayne-Anne Gadhia becomes Moneyfarm chair.

Creative Media NewsMonday, 23 January 2023, 1:000

Dame Jayne-Anne Gadhia, who now chairs HMRC, would be unveiled as Moneyfarm’s new chair on Monday, fueling suspicion that the app is preparing for a stock market listing. The bank executive who was instrumental in transforming Virgin Money into one of Britain’s largest high-street lenders has been tapped to lead a British-based digital wealth manager....

Grant Shapps assault on energy suppliers driving financially constrained customers to shift to prepayment metres.

Creative Media NewsMonday, 23 January 2023, 0:000

Energy providers have been instructed to avoid installing prepayment meters as a solution for families struggling to pay their bills and to make stronger efforts to offer additional credit, debt forgiveness, and tools such as debt coaching. Following concerns that certain energy providers are not doing enough to assist vulnerable consumers during the cost of...

Tesco’s John Allan thinks food companies overcharge.

Creative Media NewsSunday, 22 January 2023, 22:000

The chairman of Tesco has stated that certain food companies may exploit inflation as an excuse to increase prices beyond what is reasonable. Laura Kuenssberg asked John Allan if it was feasible that food manufacturers were taking advantage of the lowest members of society, and he replied, “Absolutely.” He stated that Tesco was exerting “extraordinary”...

Crackdown on energy suppliers over prepayment meters spike

Creative Media NewsSunday, 22 January 2023, 16:000

The government has stated that energy providers should stop requiring vulnerable households to install prepayment meters. Grant Shapps, the secretary of state for business, said that he would “name and shame” suppliers who did “not nearly enough” for vulnerable consumers. Citizens Advice, which seeks to prohibit forced remote switching, has demanded “additional protection” for consumers....

Better pensions in your 20s, 40s, and 60s: It’s never too late to plan your dream retirement.

Creative Media NewsSaturday, 21 January 2023, 21:000

Millions of diligent savers are losing hope for a decent retirement as the cost of maintaining even a moderate lifestyle jumped over 20% in the past year, according to new data. The rising cost of living, which rose by 10.5% last month, hurts everyone’s finances, but especially those in retirement. A minimal quality of living...

Hunt to approve £300m funding to save British Steel.

Creative Media NewsSaturday, 21 January 2023, 5:000

Chancellor Jeremy Hunt is on the verge of approving a £300 million rescue package for Britain’s second-largest steel manufacturer. A move that might prevent the loss of thousands of jobs. The Treasury is close to approving a £300 million rescue plan for the second-largest steel maker in the United Kingdom. To reduce its carbon footprint...

Christmas reductions result in a shocking decline in retail sales.

Creative Media NewsFriday, 20 January 2023, 16:000

As consumers cut back on spending, retail sales reached historic lows in December and for the whole year. In December, a crucial month for retailers due to the holidays, it was anticipated that retail sales would grow. However, the number of items purchased by consumers in December decreased by 1% from November and by a...

Gold nears $2k and GBP rises: In 2023, will a “mystery buyer” drive the price?

Creative Media NewsFriday, 20 January 2023, 11:000

The gold price in sterling set a record high of £1,570.41 per ounce at the end of the trading day earlier this week. And the upward trend is expected to continue for the foreseeable future. The dollar price, which is currently about $1,911, is still quite a distance from its all-time high of $2,075, although...

Elon Musk’s Twitter “lies” about Tesla cost investors millions, judge said.

Creative Media NewsFriday, 20 January 2023, 0:000

A lawyer for the billionaire told San Francisco jurors that Musk just used the “wrong words” when he tweeted that he had “secured” finance to take Tesla private. A lawyer for investors has told the court that Elon Musk “lied” when he said he had “secured” funds to take Tesla private. The company’s top executive...

Premier Foods closes Knighton facility, affecting 300 employees.

Creative Media NewsThursday, 19 January 2023, 12:000

According to the manufacturer of Oxo stock cubes and Mr Kipling pastries, the site has grown unproductive and is no longer vital to the company’s future. Premier Foods, the manufacturer of Oxo stock cubes and Mr. Kipling pastries, has revealed plans to close a plant in the West Midlands, threatening over 300 jobs. Premier Foods...

Microsoft’s latest layoffs will affect thousands.

Creative Media NewsThursday, 19 January 2023, 2:000

Microsoft is finalizing plans to decrease its personnel as a result of the worldwide economic slump. Microsoft is poised to eliminate thousands of positions in response to the slowing global economy. The U.S. software giant may disclose intentions to eliminate a considerable number of global positions within days. Microsoft, which employs more than 220,000 people,...

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