Low-income tenants battle soaring rents

Low-income tenants battle soaring rents

Low-income tenants are now spending an average of 28% of their wages on rent, up from 21% in the mid-1990s, new research indicates. They have been hit by substantial cuts to housing benefit, with government support expected to fall “further and further behind” the cost of housing, says the Institute for Fiscal Studies. Over the […]

Young face growing mortgage debt burden

Young face growing mortgage debt burden

Image copyright Getty Images Young first-time buyers are increasing their overall mortgage debt in order to tackle short-term financial pressures. The average mortgage term is lengthening from the traditional 25 years, according to figures from broker L&C Mortgages. Its figures show the proportion of new buyers taking out 31 to 35-year mortgages has doubled in […]

Sky deal: James Murdoch faces shareholders at annual meeting

Sky deal: James Murdoch faces shareholders at annual meeting

Image copyright AFP/Getty James Murdoch is poised to defend his position as Sky’s chairman at its annual shareholder meeting on Thursday. A trio of advisory firms have called on shareholders to rebel against Mr Murdoch, who is chief executive of 21st Century Fox and sits on its board. One investor, Royal London, which owns £44m […]

Farm incomes may halve after Brexit, says report

Farm incomes may halve after Brexit, says report

Image copyright PA Image caption Dairy farmers might, in some circumstances, receive higher prices after Brexit says the report The profitability of the average UK farm could fall by as much as half after Brexit, new research suggests. The report, by the Agriculture & Horticulture Development Board (AHDB), says the “worst-case scenario” would cut average […]

Nuclear clean-up ‘failures’ cost £122m

Nuclear clean-up ‘failures’ cost £122m

Image copyright Getty Images A catalogue of errors in awarding a contract to clean up 12 UK nuclear sites ended up costing the taxpayer £122m, official auditors have found. The deal to decommission the ageing Magnox sites was originally intended to last 14 years, but was cut short after legal challenges by unsuccessful firms. Now […]

Monarch collapse: Lord Myners calls for inquiry

Monarch collapse: Lord Myners calls for inquiry

Image copyright Getty Images A former City minister has called for an investigation into the private equity firm that owned Monarch. Greybull Capital is owed about £150m for loans made to the airline, but as a preferred creditor it will be first in line to be repaid when assets such as airport landing slots are […]

UK retailers ‘need EU workers after Brexit’

UK retailers ‘need EU workers after Brexit’

Image copyright PA Prices may rise and home deliveries could be slower unless the retail sector retains access to all EU workers after Brexit, a trade body has warned. EU citizens account for just 6% of the industry’s 170,000 workforce, the British Retail Consortium said. However, they are concentrated in warehouse and distribution jobs, its […]

Harvey Weinstein sacked after sexual harassment claims

Harvey Weinstein sacked after sexual harassment claims

Image copyright AFP Harvey Weinstein, the film producer accused of sexually harassing female employees for nearly three decades, has been fired by the board of his company. The Weinstein Company directors said that “in light of new information about misconduct”, they had terminated Mr Weinstein’s employment “effective immediately”. The statement was issued on Sunday by […]

Further tariff of 80% imposed on import of C-Series plane

Further tariff of 80% imposed on import of C-Series plane

Image copyright Reuters Image caption Parts of Bombardier’s C-Series planes are made in Belfast The US Department of Commerce has again ruled against aerospace firm Bombardier in its dispute with rival Boeing. A further tariff of 80% has been imposed on the import of Bombardier’s C-Series jet to the US for alleged below-cost selling. This […]

Top Ryanair executive leaves after pilot scheduling fiasco

Top Ryanair executive leaves after pilot scheduling fiasco

Image copyright AFP Image caption Thousands of travellers had their holiday plans ruined by a Ryanair scheduling mistake Embattled low-cost airline Ryanair said its chief operations officer will depart the company at the end of the month. Michael Hickey will be the first executive to leave the company after a rostering error led to the […]