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Using home to fund retirement is a delusion, says former minister

Using home to fund retirement is a delusion, says former minister

Image copyright Getty Images Downsizing your home to give yourself an income in retirement is unrealistic, according to the former pensions minister, Steve Webb. As many as three million people who are planning to rely on their homes for a pension are in for a shock, he said. In a report for the insurance company […]

A new day, a new Chancellor: A new economic policy?

A new day, a new Chancellor: A new economic policy?

Image copyright Getty Images Image caption “Increasing taxes is not the way to support the economy,” says the new chancellor Britain’s economic policy has changed radically almost overnight. In all the fuss and dust surrounding the referendum, the Tory leadership campaign and the creation of a brand new cabinet it has been easy to lose […]

Lowcost Holidays demise blamed on Brexit vote

Lowcost Holidays demise blamed on Brexit vote

Image copyright Getty Images Holiday booking company Lowcost Travelgroup has gone into administration, as uncertainty ahead of the EU referendum and the fall in the pound were blamed for its demise. The group has 27,000 holiday makers in resorts and 110,000 more with bookings. Administrators said Lowcost Travelgroup ceased trading on 15 July, with the […]

Major gas store shutdown prolonged

Major gas store shutdown prolonged

Wholesale gas prices have jumped after British Gas owner Centrica said it had been forced to shut a major storage facility for the winter. The Rough facility accounts for about 70% of all UK gas storage. Tom Marzec-Manser, an analyst at market information provider ICIS, said the gas price “rocketed” to 12-month highs after the […]

PM Theresa May starts ministerial appointments

PM Theresa May starts ministerial appointments

Image copyright Getty Images PM Theresa May has been unveiling more junior ministerial appointments as she continues to shape her administration. Anna Soubry, business minister and prominent Remain campaigner, pensions minister Baroness Altmann and justice minister Dominic Raab have left the government, No 10 said. Penny Mordaunt and Mike Penning become ministers at the Department […]

Brexit ‘an enormous economic problem’

Brexit ‘an enormous economic problem’

Image copyright Getty Images Image caption Tony Blair has warned of “economic aftershocks” if the UK leaves the EU Former prime minister Tony Blair has said leaving the EU would create “an enormous economic problem” following any Brexit vote on 23 June. And an online survey of economists for The Observer showed 88% of those […]

Firms ‘should be flexible’ during Euros

Firms ‘should be flexible’ during Euros

Image copyright Reuters Firms should be flexible with staffing during the Euro 2016 football tournament, which begins on 10 June, the conciliation service Acas says. It has published a set of guidelines to prevent disputes arising if staff want to watch their team in the competition. Acas said firms should have agreements in place to […]

‘Guarantees needed if Tata pulls sale’

‘Guarantees needed if Tata pulls sale’

Image copyright EPA Image caption Steel workers protested in London earlier this week Tata would need to give guarantees it is in the UK steel industry for the long run if it scraps its planned sale of plants, Stephen Kinnock has said. The Indian-based firm announced it was selling its loss-making UK business in March, […]

Lufthansa to suspend Venezuela flights

Lufthansa to suspend Venezuela flights

Image copyright AFP Image caption Lufthansa says the demand for international flights to Venezuela has dropped The German airline, Lufthansa, has announced that it will suspend flights to Venezuela from 18 June due to economic difficulties in the country. The company also said currency controls in Venezuela made it impossible for airlines to convert their […]

Energy suppliers vent comparison fears

Energy suppliers vent comparison fears

Independent energy companies want consumers to be able to see all available tariffs when using price comparison websites. Six smaller providers fear that only gas and electricity deals from the “Big Six” will show up in searches under proposed new Competition and Markets Authority rules. They fear that such a move would discourage competition. The […]

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