Business

A major change to how you make card payments is coming in. The current £100 limit on contactless card payments is to be changed from March 2026.Contactless card payments became an option in 2007 with a £10 limit on payments. The limit was increased gradually, up to £15 in 2010 and then to £30 in 2015.This was further increased to £45 in 2020 and then to £100 in October 2021. Under new rules announced by the Financial Conduct Authority, bank providers will be able to set a maximum themselves, or have no limit at all on how much you can pay through contactless.The new limits will come in from March 19. Although the change will grant further freedom to consumers, industry experts say this is not the main objective of the change.Chris Jones, managing director at payment consultancy PSE Cons...

‘The Big Money Show’ panel discusses President Donald Trump’s push for a 2026 economic boom as inflation cools, wages rise and tariffs deliver billions in revenue. President Donald Trump announced Friday his administration has reached new agreements with some of the world’s largest drug manufacturers aimed at lowering prescription drug costs for Americans.  Speaking from the Roosevelt Room, Trump revealed nine additional drug manufacturers have agreed to the administration’s most-favored-nation pricing initiative, bringing the total to 14 of the 17 largest leading companies in the world. The agreement reached with the nine companies also encompasses $150 billion in combined new investment commitments in domestic manufacturing, research and development of pharmaceuticals.  "For the ...

Ed Miliband’s job is to ensure Britain has an affordable, secure supply of energy for homes and businesses. That would let families heat and light their houses without fear, and give companies a fighting chance to compete and grow. But that isn’t his priority. All that matters is his frantic green transition.Miliband seems content to let millions shiver through winter and entire industries go bust or flee overseas, by giving us some of the highest energy prices in the world. It's costing us £14billion a year, but Ed doesn't care. So long as he can signal his virtuous net zero credentials to Labour activists, who adore him.During the election, Miliband promised his green plans would cut £300 from the average household energy bill. Households are already paying £187 more, despite plunging...

Transportation Secretary Sean Duffy joins 'Mornings with Maria' to break down safety concerns, flight disruptions and the administration’s push to modernize air traffic control as China accelerates its drone and space ambitions. Transportation Secretary Sean Duffy insists it will be "safe to fly" as millions of Americans head into the Christmas travel rush — even as the nation’s top aviation regulator delivered a stark warning that U.S. air traffic control towers will never reach full staffing levels. "You saw that as we were getting into the last days of the shutdown, we reduced the capacity of airlines by 10% because we saw the trend lines going in the wrong direction. We will take whatever steps are necessary to make sure the airspace is safe," Duffy told FOX Business' Maria Bar...

The UK Government has turned down a request from Conservative MP Andrew Rosindell to examine the "potential merits of widening the eligibility criteria for the Blue Badge scheme". Currently, approximately 3.2 million people across Great Britain use the Blue Badge scheme.In a written statement, Local Transport Minister Simon Lightwood said the UK Government "fully recognises the importance of ensuring that the Blue Badge scheme supports those who have their mobility impacted by substantial and enduring disabilities and other health conditions".He noted that the Department for Transport "works closely with local authorities" to ensure the Blue Badge scheme remains "fair, effective, and focused on those who need it most".Mr Lightwood also outlined how the Department for Transport had previ...

The Monetary Policy Committee (MPC) will meet today to determine whether the Bank of England Base Rate will change. Economists widely predict the MPC will reduce interest rates by 0.25% after inflation fell to an eight-month low in November. The base rate significantly impacts the cost of mortgages and loans, and influences the interest rates banks offer on savings accounts. It peaked at 5.25% in late 2023, but policymakers have since reduced it to 4% in the months following, as inflation has dropped to more manageable levels. It’s currently rising at a pace of 3.2% - far lower than the 11% highs seen during 2022’s energy crisis, but still higher than the Bank’s 2% target. The Bank of England typically raises interest rates when inflation is high to curb spending and slow price increase...

Tesla CEO Elon Musk said that the spread of AI technologies could make work optional in 10 to 20 years, though he cautioned there is a lot of work to do between now and then. Billionaire Elon Musk on Wednesday said that while the Trump accounts that are set to launch next year are a nice gesture, he doesn't think saving money will be necessary with "universal high income" set to prevail in the future. Musk replied to a post by investor Ray Dalio, who announced he was following Michael and Susan Dell in donating funds to help seed so-called Trump accounts, which are new savings and investment accounts created by the One Big Beautiful Bill Act for newborns and young Americans."It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to sa...

Tesco is launching a range of Clubcard deals tomorrow, just in time for the big Christmas shop. Seven Christmas essentials are being slashed to just 15p, giving Clubcard members savings of up to 89% on festive veg.It comes as Sainsbury's reveals new savings for Aldi Price Match products and Nectar users - households looking to cut costs this Christmas by shopping around can pick up all the ingredients of a Christmas dinner, including several kilos of veg, potatoes, gravy and a whole Turkey for less than £15. At Tesco, starting on Thursday, December 18, it will offer four kilograms of festive veg for just 60p. Two kilograms of the popular supermarket chain's All Rounder Potatoes have been discounted the most, offering shoppers a saving of £1.17.Broccoli will also be knocked down by 67p, ...

State pensioners living in private rented accommodation could receive additional financial support if the Government decides to overhaul or scrap the triple lock, an expert has said. Concerns about the long-term affordability of the triple lock, which guarantees annual state pension increases, were raised during a recent session of the Work and Pensions Committee. Pension specialists told MPs that while the policy has helped boost pension incomes and reduce poverty, it may no longer be sustainable as costs continue to rise.However, experts warned that identifying an alternative would be difficult because the purpose of the state is "not clear." The remarks were made during a committee session examining the long-term future of the State Pension age, which currently stands at 66 for both ...

Brits have been told how to increase their  tax-free personal allowance  to over £13,000 by using one little-known method. ‘Tax relief’ means that you either pay less tax to take account of money you’ve spent on specific things, like business expenses if you’re self-employed, or get tax back or repaid in another way, like into a personal pension. Maintenance Payments Relief is one form of tax relief and it reduces your Income Tax if you make maintenance payments to an ex-spouse or civil partner. You can get it if either of you were born before April 6, 1935, you’re paying maintenance under a court order after the relationship has ended, and the payments are for the maintenance of your ex-spouse or former civil partner (provided they are not now remarried or in a new civil partnership) o...