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Government borrowing costs jump on reports of Reeves dropping income tax rise
Reuters UK government borrowing costs have risen in reaction to reports the chancellor will not increase income tax in the upcoming Budget. The interest rate on 10-year government bonds, known as the yield, jumped to 5.56% from 5.44%, indicating the cost to government if it chose to borrow over this length of time. The jump…
The Swiss city that lets you pay for most things with bitcoin
John LaurensonBusiness reporter, Lugano, Switzerland AFP via Getty Images Shops and restaurants across the Swiss city of Lugano now accept bitcoin In a McDonald’s by a lake surrounded by mountains, in the centre of the Swiss city of Lugano, a customer orders coffee. “Can I pay with bitcoin?” he asks, and the person behind the…
The cost of rising rents: Working four jobs and pushed on to benefits
Steve Reed, MP for Streatham and Croydon North and Secretary of State for Housing, said: “Across London, 2.7 million renters will benefit from Labour’s Renters’ Rights Bill, ending Section 21 no-fault evictions so families can’t be forced out without reason, capping unfair rent hikes, and introducing a new ombudsman and stronger enforcement to drive up…
Bodycare to shut remaining stores with loss of 444 jobs
All remaining Bodycare stores are to close with the loss of 444 jobs after the health and beauty chain’s administrators failed to find a buyer for the shops. The business, which fell into administration earlier this month, was “no longer viable to continue” trading because of “the shortage of stock and significant costs” associated with…
