Summary: Halifax , the UK's biggest mortgage lender, is reducing rates by up to 0.71 percentage points. HSBC and other major banks have also announced rate cuts in response to rising mortgage rates. The reduction in rates provides relief to homeowners and potential buyers, especially for fixed-rate deals. The move is influenced by expectations of Bank of England rates and inflation trends. Mortgage rates have been on the rise due to consecutive interest rate increases by the Bank of England . Recent decrease in inflation offers optimism about possible rate stabilization. Mortgage companies are aiming to attract customers by ...

Summary: GCSE results data for this year indicates a return to pre-pandemic pass rate levels. Pass rates in England have reached their lowest point since 2007 due to stricter grading . Wales maintains pass rates similar to 2018, while Northern Ireland achieves significantly higher pass rates . Pass rates for English and maths have improved across all nations compared to 2019. Balancing the shift towards pre-pandemic grading with student well-being remains a challenge. ...

Interest rates: Banks not passing on £23bn to savers Work no longer pays what it used to. Inflation is eroding our earnings and banks aren't passing on higher interest rates to savers. Pensioners like Carol say their money isn't working as hard as it used to. I've been trying to create a financial buffer. And every time I get a little bit saved, something happens. So that's going to be at the moment the cost of living crisis. If I want to actually have a life, I have to work. Back in December 2021, the Bank of England's interest rate stood at just 0.1%. With the average savings rate on the high street at 0.2%. But while the Bank of England has since hiked its main interest rate to 4%, average savings rates among high street banks have only risen to 1.88%. It means that those with £30,000 of savings only stand to make £569 in interest each year. That's less ...

Summary: Retail sales in the UK increased by 0.7% in June 2023 compared to the previous month, but were down by 1% compared to June 2022, indicating a gradual slowdown. Consumer confidence in July showed a decline, attributed to rising interest rates, fiscal drag, and reduced disposable income. Small businesses face challenges due to the cost of doing business, including higher interest rates, inflation, and the highest tax burden in 70 years. The UK government borrowed £18.5 billion in June 2023, with a significant portion going towards paying interest on previous debt. Debates arise about the sustainability of government borrowin...

Summary: UK housing prices experienced the sharpest decline in 14 years, falling by 3.8% in July. Rising mortgage rates and high interest rates are affecting potential buyers' affordability. Estate agents are witnessing an increase in sellers needing to sell for financial reasons. The Bank of England is expected to raise interest rates for the 14th consecutive time in the near future. House prices are likely to continue falling, presenting an opportunity for first-time buyers. ...

Summary: The UK economy faces concerns as initial data shows an unexpected rise in June's inflation rate to 4.2%. Job numbers indicate potential hesitance by the Bank of England in raising interest rates . Unemployment reaches levels not seen since October 2021 amid recent events like Wilco's administration. Average hourly earnings grew by 8.2% in June, aligning with expectations of further interest rate increases. The uncertain monetary policy outlook hinges on upcoming consumer price inflation figures. Sterling reacts positively to data release, impacting currency performance. Future economic trajectory depends on up...

Summary: Housing costs are rising significantly, affecting millions of homeowners on variable or fixed-rate mortgages. The Bank of England's successive rate increases bring short-term stability but pose challenges for those struggling with housing costs. Volatility in the housing market is expected as some homeowners need to sell their properties at reduced prices. Investment in energy-efficient and high-quality housing stock is essential for the long-term stability of the market. ...

Martin Lewis: Energy Price Guarantee rise would be 'act of national harm' If the price rises in April, it's not firms, it's not regulators, it is the government putting people's prices up. Well, I wrote to the Chancellor three weeks ago, asking him to not increase the rise, the energy price guarantee in April by 20% as planned, for all the reasons that have just been outlined there. And most importantly, what you have to understand is if we do increase it, it would result in an act of national mental health harm. People have been battered by successive rises in energy bills, 14% rises in broadband, 7% in water, 5% in council tax. And for the sake of just three months, and you heard the explanation of why it's just three months there, to send millions of people another letter is bad for people's finances. It's bad for people's state of mental health....

Wayne Couznes sentenced to 19 months for indecent exposure | 5 News Hello, it's two years almost to the day that Sarah Everard was kidnapped, raped and murdered by an off-duty police officer. It was a case that rocked the nation. Her death caused a huge public outcry about women's safety and highlighted the issue of trust in the police. Well, today her killer was back in court, this time sentenced to 19 months for three counts of indecent exposure. Extra jail time makes no difference to his whole life sentence. He will never be released. But in devastating impact statements, his victims told the court that Wayne Cousins could and should have been stopped before he went on to kill Sarah Everard. Our Chief Correspondent, Tessa Chapman, has the story. He will never see freedom again, but today Wayne Cousins did face justice once more, this time for a string of indecent exposure...

Summary: Rishi Sunak defends his strategy to tackle inflation in an exclusive interview with ITV News, stressing responsible borrowing . Sunak acknowledges the role of the government in curbing inflation and highlights the potential negative impact of excessive borrowing on long-term economic stability . Sunak discusses the effects of interest rate rises and emphasizes the importance of sustainable pay increases tied to productivity growth. Sunak confirms the government's commitment to the triple lock policy for pensions and expresses his intent to support individuals facing inflation -related pressures. Sunak addresses ca...

Summary: The Jackson Hole symposium begins, raising expectations about its impact on markets, interest rates , and the US dollar. Central banks grapple with the challenge of balancing inflation control and fostering economic growth . Fluctuations in the US dollar are not solely tied to the symposium but have multiple influencing factors. The euro's performance is analyzed in relation to recent dollar movements and support levels. Federal Reserve Chairman Jerome Powell's upcoming speech holds key insights for future market trends. ...

Summary: UK Chancellor Rishi Sunak accused of dishonesty for claiming the hospitality sector is thriving. Critics argue that rising inflation, energy bills, and interest rates make such claims hard to believe. Hospitality business owners counter the Prime Minister's statements, asserting that business is far from 'good.' The industry demands concrete measures to address increasing costs and decreasing profits. Debates continue on the real impact of government policies on the hospitality sector's well-being. ...

Summary: Chancellor Rishi Sunak admits inflation is not declining as fast as desired but asserts progress is being made. Sunak emphasizes the importance of bringing down inflation to alleviate financial pressures on citizens and lower interest rates. Practical assistance for homeowners includes the mortgage charter, enabling options like extending mortgage terms or switching to interest-only mortgages. Sunak's determination to make responsible decisions and protect citizens' equity aims to prevent people from losing their homes. ...

Summary: Apple faces a $1bn lawsuit in the UK , brought by 1,500 app developers , over its app store fees . The charges of 15% to 30% imposed by Apple are considered excessive and unfair. Apple 's app store holds a dominant position, leading to contentions of monopoly power . The essential role of the app store infrastructure justifies Apple 's higher commission rates. The lawsuit 's outcome remains uncertain, given Apple 's size and lack of viable alternatives. Some argue that Apple 's success justifies the higher fees, citing the popularity and user-friendliness of the app store. ...

Summary: German PMI services plunge from 52.3 to 47.3, while manufacturing PMI improves slightly from 38.8 to 39.1. Economists warn about the possibility of stagflation in Germany 's services sector, requiring ECB to consider rate hikes. Eurodollar chart shows Euro weakening against the US dollar, with implications tied to the upcoming Jackson Hole symposium . Germany 's position as the Eurozone's largest economy intensifies the impact of these economic developments. ...

UK Inflation Falls But Still Among Highest of Major Economies Summary: UK inflation remains high, causing financial strain for millions of households. Families face rising prices for essential items, while wages lag behind. Housing costs are adding to the burden, with mortgage rates on the rise. Supermarkets face criticism for not passing on cost cuts to consumers. Government efforts to tackle the cost of living crisis face scrutiny and demand for more action. Millions of hous...

Summary: Boots reports a 33% increase in Covid test sales since July. Just under 790,000 people in the UK estimated to have Covid symptoms . Highest Covid rates in the south-west, lowest in Yorkshire . Recent rise in cases compared to previous Omicron peaks. 46% increase in hospital patients testing positive for Covid. Waning immunity contributing to the surge in cases. Booster uptake relatively low in certain age groups. The High Street Pharmacy Boots says sales of ...

Summary: Trump 's absence from the debate overshadowed Republican candidates' discussions. Trump conducted an interview with Tucker Carlson, reiterating claims of election fraud . The interview was strategically timed to coincide with the debate and influence media coverage. Trump aimed to portray himself as a dominant figure in the news cycle. ...

Summary: Twitter, now known as X, is discontinuing its web-based Tweetdeck service , raising concerns about its future. Elon Musk aims to make X financially self-sustaining and had previously mentioned potential payment models . The decision to end the free Tweetdeck version forces users to choose between the paid service and alternatives. Potential Threads , introduced as a threat to X, faces decreasing adoption rates. Speculation abounds that Musk might introduce a premium X model catering to high-value online sectors . Musk's success with Tesla inspires expectations for X's transformative journey. ...