Mortgage rates for first-time buyers have rocketed in the wake of the Covid crisis, dealing a major blow to Boris Johnson as he promises to get a generation of young people on to the housing ladder. “Alarming” figures from the Bank of England show that borrowers with a small deposit […]
pain
Why Covid insurance ruling may mean more pain for small firms
Pulman’s lawyers, Mishcon de Reya, believe his claim is one of thousands that should now be paid following the decision. But for many businesses Tuesday’s complex 162-page judgment will not be the end of the matter. “It’s not all unbridled joy [for small businesses],” says Ravi Nayer, an insurance lawyer […]
A tax grab might be tempting but would cause huge economic pain
As Britain fought for its life during the Second World War, can you imagine being obsessed by the level of government debt? In practice, we let the debt ratio rise to a peak of about 250pc of GDP (compared to today’s 100pc) and only sought to bring it down once […]
how much more will I have to pay and what can I do to minimise the pain?
Treasury officials are understood to be eyeing five tax rises to boost their Covid-hit coffers. Many readers will find themselves paying more if their proposals take effect. But how much more – and what could they do to limit the damage? I’m earning £75,000 but currently pay no higher-rate tax […]
Even more pain still to come for M&S
At £2.2bn, its market capitalisation is now smaller than that of furnishing specialist Dunelm or discounter B&M. M&S talks of the need to “deliver three years’ change in one”, and its “streamlining” today is undoubtedly an acceleration of plans that boss Steve Rowe and chairman Archie Norman have been contemplating […]
More pain for savers as rates fall to record lows
Savers have a fight on their hands to make any return on their money as average interest rates fall to their lowest levels on record. Rates have plummeted across all types of savings products since the Bank of England slashed the base rate from 0.75pc to 0.1pc in March. High-street lenders have been […]
America, champion of democracy, reels in pain
WASHINGTON — U.S. President Donald Trump on Monday said he would deploy the military if cities and states do not stop the rioting and looting that has spread across America as protests over the death of an African American man in Minnesota escalate. “The Lincoln Memorial and the World War […]
Jollibee to build ‘cloud kitchens’ to offset coronavirus pain
MANILA — Philippine fast-food giant Jollibee Foods said Friday it will spend 7 billion pesos ($138 million) to build discreet “cloud kitchens” and a stronger delivery service as part of a global restructuring plan. Struggling to offset the impact of the coronavirus pandemic, Jollibee said the “cloud kitchens” or unmarked delivery outlets, would […]
Singapore and Japan jobless rates show coronavirus pain setting in
SINGAPORE — Asian unemployment statistics have begun to show the damage from the coronavirus pandemic, with forecasters expecting job losses in some countries to exceed global financial crisis levels in the months ahead. On Wednesday, Singapore announced that the unemployment rate rose to 2.4% in March, up from 2.3% in […]