Business

A man who was stuck paying 34 percent interest on a £20,000 debt has now cleared his debts thanks to a mortgage switch.Richard Jones, 61, from Manchester, ended up in debt after being duped by a cryptocurrency scam.He initially made £731 in profit through the scheme but soon found himself thousands of pounds into debt.Faced with the huge amount to pay, he decided to use his savings and credit cards as a way to clear the amount, but this meant huge interest payments, with one card having a 34 percent interest rate.He then approached Saga Mortgages to explore his options to help with his predicament.Mr Jones said: "I’ve never actually used Saga before, but I received their newsletter and that’s how I heard about Saga Mortgages."He was able to switch his mortgage from a Buy to Let to a Ret...

Households are being urged to check if they could be eligible for a 100 percent discount on their council tax. Certain homes will not have to pay the bill at all, while others will have a smaller discount, if the residents claim benefits or are classed as a low income.The reduction is available whether you are renting or a homeowner and can be given to both unemployed and employed people.Known as council tax reduction, or council tax support, the discount will vary depending on your local council.On its website, the Government explains: “You could be eligible if you’re on a low income or claim benefits. Your bill could be reduced by up to 100 percent.”The reduction you are able to get will also depend on:Your circumstances (for example income, number of children, benefits, residency sta...

Check out what's clicking on FoxBusiness.com. A New York City-based coffee shop that requires customers who are non-members to pay for an amenity is sparking a debate on social media. "If you thought living in New York City was expensive, now we must pay to take our laptops out at coffee shops. That's not free anymore. That's not a free right in our community," Sidnye Unger, a social media creator, said in a recent TikTok video.Unger shared a video of a new Wi-Fi policy at the Bedford Studio, a coffee shop and "collective workspace" in the West Village. DC RESTAURANT OFFERING 'QUIET HOURS' FOR PATRONS LOOKING TO ESCAPE BRUNCH 'PARTY AMBIANCE' "My friend and I were really taken aback by the Wi-Fi charge/membership at the coffee shop," Unger told FOX Business via email."I have been [...

More than 12million retirees are on course get a pay rise of 4.5% from April 2025. They had previously hoped to get 5.7%, but as I reported on Tuesday, those hopes now appear to have been dashed and they'll get £11.50 a month less.Under the triple lock, the UK state pension rises each year by inflation, earnings or 2.5%, whichever is highest.In April 2023, pensioners received a bumper 10.1% pay rise based on inflation, while this April they got 8.5%, in line with earnings growth.Each year's triple lock hike is based on the consumer price inflation figure from September the year before, and earnings growth over three months from May to July.Inflation stood at 2.2% in July while earnings grew by 4.5% from April to June. It therefore seems almost certain that the triple lock earnings eleme...

Savers are being advised to lock themselves into long-term savings bonds offering returns of 5 percent before they disappear.The 5 percent figure is above the current inflation rate of 2 percent and so offers a useful hedge against rises in living costs.However, finance industry experts warn that these best paying deals are likely to be removed in the coming days.Interest rates on savings have remained relatively stable since last week’s Bank Rate cut, but experts believe it is only a matter of time until things change.Rachel Springall, of analysts Moneyfacts, said: “Savers sitting on the fence to invest their cash with a fixed rate bond may wish to do so quickly, as the top rates are not guaranteed to be there for long.”Moneyfacts data shows that a handful of one-year fixed bonds above...

BBC Moneybox on energy bill supportIf you're grappling with energy costs amid the cost of living crisis or dealing with debts to your supplier, assistance may be available, with companies offering up to £2,000 to help cover bills.Since July 1, the cap on energy prices has been set at £1,568 a year for an average household that uses electricity and gas and pays by direct debit.According to Ofgem, the energy watchdog, the typical household consists of 2.4 people and consumes 242 kWh of electricity and 1,000 kWh of gas per month.The price cap dropped by £122 a year for the average household from 1 July 2024, following steep increases in 2022/23.However, costs are still significantly higher than they were a few years ago, so if you're still finding it difficult to make payments, several com...

Arrachage de pieds de vigne, à Saint-Sulpice-de-Faleyrens (Gironde), le 5 fevrier 2024. SEBASTIEN ORTOLA / REA Les voitures françaises vont-elles bientôt rouler au vin rouge ? La question n’est pas aussi saugrenue qu’elle en a l’air de prime abord. La piste de la transformation de vin en bioéthanol est, en effet, à l’étude par la Confédération des coopératives vinicoles de France. Même si nul ne sait si elle aboutira, elle illustre, en tout cas, la sortie de route de la filière viticole française, confrontée à une crise de surproduction et cherchant à éliminer ses surplus. Lire aussi | Article réservé à nos abonnés Rouge, blanc, rosé… Le lent désamour des Français pour le vin Ajouter à vos sélections ...

Constellation Research founder R' Ray' Rang weighs in on the competition between Microsoft and Google over A.I. dominance and the technology's impact on the markets. Artificial intelligence (AI) chatbot Google Gemini refuses to answer questions about the failed assassination attempt against former President Trump, in accordance with what it calls its policy on election-related issues. "I can't help with responses on elections and political figures right now," Gemini told Fox News Digital when asked about the recent assassination attempt. "While I would never deliberately share something that's inaccurate, I can make mistakes. So, while I work on improving, you can try Google Search."Google Gemini is one of many multimodal large language models (LLMs) currently available to the publ...

CABIA President Tom Manzo joined 'Fox & Friends' to discuss how the minimum wage increase has impacted the fast food industry as thousands are forced out of work.  After California implemented a new law boosting the minimum wage for fast-food workers earlier this year, a majority of restaurants increased prices and cut employee hours, according to a recent report from the Employment Policies Institute.  Some are considering expanding outside the state now more than ever.Since April, when the law took effect, 98% of restaurants surveyed said they have already raised the cost of menu items, and 93% plan to do so next year. Additionally, 89% reported already reducing the number of employee hours, and 87% plan to do so next year.  CALIFORNIA FOOD CHAINS LAYING OFF WORKERS AHEAD OF ...

‘Varney & Co.’ host Stuart Varney argues Democrats stayed silent about Biden's health issues because they are concerned about their political future. The billionaire founder of the world's largest hedge fund outlined how he sees the Democratic Party having three ways to move forward with either keeping or replacing President Biden as the party's presidential nominee. Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, wrote in Time magazine that he respects, likes and empathizes with the president. However, he explained that party leadership "suffered a terrible loss of confidence in its honesty and judgment" because it "hid President Biden's weak and rapidly declining condition" and "told the American people that we shouldn't worry about it."Biden has...