Business

The current war in Iran could impact state pensioners in the UK, experts have warned. While the heaviest burden will fall on the Middle East and wider region, savers in Britain may also be impacted by economic volatility.After the initial strike from the US and Israel last Friday (February 27), oil and gas prices jumped due to the importance of the Strait of Hormuz. The markets remain uncertain which has led to investors moving money between assets such as bonds, commodities and currencies. This can reflect in the retirement pots of savers as the value of the money they have invested may be affected.As reported by The I Paper, Adam Cole, retirement specialist at Quilter, said: "The conflict in Iran has added another layer of uncertainty to markets, and pensions are feeling the effects t...

RedBalloon.work CEO Andrew Crapuchettes speaks to Fox News Digital about the February jobs report and how artificial intelligence is disrupting hiring while increasing productivity. The February jobs report revealed a loss of 92,000 jobs, but according to RedBalloon CEO Andrew Crapuchettes, the real economic rot isn't just in the numbers — it's in the technology. Crapuchettes warns that an invisible layoff is occurring as artificial intelligence algorithms effectively delete qualified American workers from the applicant pool, creating a massive disconnect that he says is fueling the jump to a 4.4% unemployment rate and short-term economic "pain.""AI is causing a lot of disruption in the job market right now," Crapuchettes told Fox News Digital. "[Companies] are using AI effectively...

McDonald’s has confirmed a new UK opening in the North East of England, creating more than 200 jobs.The fast food chain has opened a state-of-the-art distribution centre in Darlington this week, with the 138,000 sq ft site set to supply more than 200 McDonald’s restaurants across the North East, ensuring fresher and faster deliveries for the region. According to McDonald’s, the distribution centre’s opening will also reduce average drive times by one hour, saving approximately 2.5 million road miles every year, reducing carbon emissions across its supply chain.More than 70 suppliers bring over 400 different products into the distribution centre, which are then stored, sorted and delivered to over 200 McDonald’s restaurants.McDonald’s said the development is fully aligned with its ambiti...

An investment platform has launched two new “market-leading” Cash ISA deals offering savers tax-free returns of up to 4.26%. Hargreaves Lansdown has introduced the fixed-term deposit accounts through its Active Savings platform in partnership with Chetwood Bank, giving customers access to what it describes as inflation-beating rates.The two products include a five-year fixed-term Cash ISA paying 4.26%, the highest fixed-term return currently available on the platform, and an 18-month fixed-term deposit paying 4.02%. Mark Hicks, director of Active Savings at Hargreaves Lansdown, said the new accounts were designed to help savers protect their money from inflation while benefiting from tax-free growth. He said: “The launch of these two market-leading, inflation-beating, fixed-term product...

A 4.8% increase to State Pension payments will take effect from April 6 (Image: Getty)Younger state pensioners across the UK will get up to £2,932 more per year in State Pension payments from April, thanks to the triple lock.The Department for Work and Pensions (DWP) has confirmed a 4.8% increase to the State Pension in the 2026/27 tax year, giving all pensioners an extra boost of cash. The State Pension increases at the start of each new tax year, and the amount it goes up is determined by whichever is the highest out of three factors – known as the ‘triple lock’. These are the Consumer Price Index (CPI) measure of inflation (measured for September in the previous year), average wage growth between May and July of the previous year, or 2.5%. As average wage growth was the highest of th...

Martin Lewis has spoken about a huge cost of living spike as the conflict in Iran continues. Concerns have been raised that the on-going strikes in the country will lead to a consistent increase in oil prices, with a knock-on effect on energy bills and the cost of living.The price of oil has already shot up since the conflict broke out, which has caused and immediate bills increase for some. A listener to Martin Lewis' BBC podcast from Lincolnshire raised the question of the price of heating oil, which had shot up for them. They said that they had placed an order recently for 1,000 litres of heating oil, priced at £645.Yet they had check with the same supplier more recently, and the price had more than doubled, increasing to £1,480, with an extra £835 to pay. The person said: "We did OK...

'The Big Money Show' discusses mortgage rates, property taxes and the struggle home sellers are facing. Mortgage rates ticked higher to 6% this week, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6% from last week's reading of 5.98%. The average rate on a 30-year loan was 6.63% a year ago. TEXAS CAPITAL'S HOUSEHOLD GROWTH SURGES, FAR OUTPACING NATIONAL RATE The average rate on the 30-year fixed mortgage climbed slightly to 6% this week. (Paul Bersebach/MediaNews Group/Orange County Register via Getty Images / Getty Images)"In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers ...

Martin Lewis shared an important pensions tip (Image: ITV)Martin Lewis has issued a sweping warning as anyone with a pension should check a vital piece of paperwork. In a recent episode of his BBC podcast, the financial journalist spoke at length about inheritance tax.He had some tax experts on to help explain the particulars of how the 40 percent levy works. The show naturally touched on pensions, as Labour has announced changes so that unused pensions will become liable for the tax from April 2027.One of the specialists joining Mr Lewis was Lucie Spencer, financial planning partner at wealth management group Evelyn Partners. She shared a tip for anyone with a pension pot to consider, which Mr Lewis said he "very much" endorsed.She urged: "For everyone out there who has a pension, rega...

'The Big Money Show' panel reacts to Meta’s new child safety alerts as social media companies face mounting scrutiny in court over teen mental health claims. Virginia has filed a notice announcing plans to appeal a judge's preliminary injunction blocking the enforcement of the state's law restricting the amount of time that minors under 16 can be on social media to one hour today. While U.S. District Judge Patricia Tolliver Giles admitted that the prevalence of social media and overexposure to it "can [undoubtedly] impact minors," she ultimately granted the preliminary injunction, citing First Amendment concerns."The issues in this matter are not to be taken lightly. The Court recognizes the Commonwealth’s compelling interest in protecting its youth from the harms associated with t...

Martin Lewis has shared an interesting retirement tip about when to make a key life change.Martin Lewis has backed a novel retirement tip from a listener to his BBC podcast who advised against retiring in January.The finance expert was impressed by the suggestion to wait until summer months when retirees "can get out" rather than starting their golden years in harsh winter weather. Lewis said: "That's very interesting, isn't it? You wouldn't think of that."Another listener warned about maintaining purpose in retirement, noting "the first summer is joyous, but the first winter without purpose can be very depressing." They recommended volunteering, casual work, or hobbies to stay engaged.Lewis reflected on his own busy lifestyle, admitting there are times he thinks about stopping work but...