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Morrisons has launched two major changes for shoppers – with stores offering travel money and trolleys now featuring advertisements. Read this and all the latest consumer and personal finance news below – and leave your thoughts in the box.
Thursday 25 April 2024 19:51, UK
Halifax has become the latest major lender to up mortgage rates.
They are putting up a range of deals by 0.2%.
BM Solutions also announced increases today.
It follows similar moves by TSB, NatWest, Virgin, Barclays, Accord, Leeds Building Society, HSBC and Coventry last week.
Lenders are responding to swap rates – which dictate how much it costs to lend money – rising on the back of higher than expected US inflation data, and concerns this could delay interest rate cuts there.
US trends often materialise elsewhere – though many economists are still expecting a base rate cut from 5.25% to 5% in the UK in June.
This is what average mortgage rates look like as of today…
Justin Moy, managing director of EHF Mortgages, told Newspage: “Yet more bad news for mortgage borrowers, as two of the biggest lenders announce increases to their fixed-rate products.
“As mortgage rates creep up and past 5% even for those with the largest deposits, we seem to be lacking a clear strategy of the government or the Bank of England on how rates will eventually fall.
“Even 2% inflation may not be enough to reverse the recent trends in rates.”
Morrisons has launched two major changes for shoppers – with stores now offering travel money and trolleys featuring advertisements.
Announcing their bureau de change service, Morrisons said customers could exchange currencies in select stores or could place their money orders online at Morrisonstravelmoney.com.
Using the online service means customers can either click and collect their cash in certain Morrisons stores or at any of Eurochange’s 240 branches. Alternatively, they can go for home delivery.
Services director at Morrisons, Jamie Winter, said the service “will provide our customers with easy access to a wide range of currencies at competitive exchange rates”.
So far, stores in the following areas have travel money kiosks:
In other news, the supermarket chain rolled out a new trolley advertising across 300 stores in a partnership with Retail Media Group.
A sweetener used in drinks, sauces, savoury and sweet foods and chewing gum can cause serious damage to people’s health, according to a new study.
Neotame, a “relatively new” sweetener, could damage the intestine by causing damage to healthy bacteria in the gut, according to the study, leading it to become diseased and attack the gut wall.
The study by Anglia Ruskin University (ARU), published in the journal Frontiers in Nutrition, found the negative effect of neotame “has the potential to influence a range of gut functions resulting in poor gut health”, potentially impacting metabolic and inflammatory diseases, neuropathic pain, and neurological conditions.
The illnesses this could lead to include irritable bowel disease or insulin resistance.
Read the full story here…
As we reported yesterday, a pilot programme is coming into force in Venice today that means visitors have to pay a €5 (£4.28) charge to enter the city.
Authorities say the pilot programme is designed to discourage tourists and thin the crowds that throng the canals during peak holiday season, making the city more liveable for residents.
Pictures have been emerging this morning of people queueing to register for a QR code that will allow them to enter after they have paid the charge – and officials carrying out checks on people inside the city.
People found to be contravening the rules can be fined up to €300 (£257).
As detailed in our story, the move has been met with anger among some in the city.
Venice is the first city in the world to introduce a payment system for tourists – but comments from its most senior tourist official suggested it may become a more common practice for major tourist hotspots in Europe.
Simone Venturini revealed the pilot programme was being closely watched by other places suffering from mass tourism – including other Italian art cities and hugely popular weekend-break destinations Barcelona and Amsterdam.
More than 160,000 people switched to Nationwide from other providers at the end of 2023, when the building society was offering a huge cash switching incentive.
According to figures from the Current Account Switch Service (CASS), Nationwide had a net gain of 163,363 account switchers between October and December, after leavers were taken into account.
It was the highest quarterly gain since the same period in 2022, when 111,941 switched to Nationwide.
The building society launched a £200 switching bonus for new joiners in September last year – the biggest giveaway on offer at the time. It withdrew the offer just before Christmas.
The latest CASS figures, which show Nationwide had 196,260 total gains before accounting for leavers, suggesting it could have spent up to £39m on nabbing customers from other providers in the last three months of the year.
Barclays and Lloyds Bank saw more modest net gains of 12,823 and 5,800 respectively, while the rest of the UK’s big banks reported net losses.
NatWest and Halifax fared worst, losing over 40,000 more switchers each than they gained.
This week saw the last remaining switching offer on the market withdrawn.
Sainsbury’s is having technical issues again – with shoppers taking to social media to say their deliveries have been delayed or cancelled.
The supermarket has been replying to customers saying: “I’m really sorry about the tech issues this morning.
“We’re aware of the situation and are working to sort it as quickly as possible. In the meantime, we’d advise you place a new order for a future date.”
Customer Andrew Savage wrote: “Order has not been delivered and no confirmation email this morning.”
Another, John B Sheffield, said: “So angry! Just got through to your customer line after 40 min WAIT.
“Tells me NO DELIVERIES TODAY! tech problem? I’ve NO FOOD IN! ANGRY!”
In a statement to Sky News, a Sainsbury’s spokesperson says: “A small technical issue affected some groceries online orders this morning.
“We have contacted these customers directly to apologise for the inconvenience.”
In another update at 10am, the supermarket said that the issue has been resolved.
Responding to customers on X, Sainsbury’s also offered those affected e-vouchers and details on how to rebook their orders.
It comes a month after the supermarket had to cancel almost all deliveries on a Saturday in mid-March due to another technical issue.
By Daniel Binns, business reporter
A potential $38.8bn (£31bn) takeover of UK-based mining company Anglo American has sent its shares soaring – and helped the FTSE 100 hit yet another record high this morning.
The attempted mega-merger, by larger Australian rival BHP, is currently being reviewed by Anglo American’s board.
The deal, if it goes through, would create the world’s biggest copper mining company – and comes as the price of the metal continues to climb amid soaring demand.
Anglo American’s shares have surged as high as 13% this morning as news of the negotiations emerged.
The announcement also helped spur the FTSE 100 to a new intraday (during the day) high of 8,098 points.
The index, of the London Stock Exchange’s 100 most valuable companies, has hit a string of records this week, including an all-time closing high of 8,044 points on Tuesday.
The score is based on a calculation of the total value of the shares on the index.
Also moving the markets are a string of company results which were published earlier on Thursday.
Among those issuing updates to investors was drugsmaker AstraZeneca. Its stock is up more than 5% after the firm reported quarterly profit and revenue above market estimates.
Unilever is also up 5% following similar better-than-expected quarterly figures.
Another good performer is Barclays – despite reporting a 12% fall in profits for the first three months of 2024. Its shares are up more than 4%.
That’s because its quarterly figures are slightly better than expected, and the bank has said it expects its fortunes to improve later this year.
Meanwhile, as tensions in the Middle East continue, the price of a barrel of Brent crude oil continues to hover at a price of around $88 (£70).
This morning £1 buys $1.25 US or €1.16, similar to yesterday.
Every week we get experts to answer your Money Problems – usually on a Monday, but today we have a short, bonus addition in light of multiple lenders raising mortgage rates this week on fears an interest rate cut could be delayed to a little later this year (note: many economists still think it will come in summer).
A few readers have got in touch with questions similar to this one…
My remortgage is due to complete on 1 May. I already have an offer but with rates going up, is there any way at all my offer rate could increase?
Saz681
We asked David Hollingworth, director at L&C Mortgages, to answer this one…
It’s great news that you are already set up with a mortgage offer, Saz – ready to make a smooth switch to a new deal and/or lender, once the current one ends.
It does take time to set up a new mortgage so shopping around the market a good few months ahead will help you put everything in place and avoid slipping onto a high variable rate.
Fixed rates have been nudging up slightly but you have already got a formal offer in place so shouldn’t worry.
Applying for a mortgage will generally secure that rate and the lender will then carry out any further checks to issue the mortgage offer.
The offer will be valid for a specified period, often for up to six months. Rates are always shifting for new customers but you can rest easy that your rate should be safe and sound for your switch in May.
This feature is not intended as financial advice – the aim is to give an overview of the things you should think about. Submit your dilemma or consumer dispute, leaving your name and where in the country you are, by emailing news@skynews.com with the subject line “Money blog”. Alternatively, WhatsApp us here.
By Ollie Cooper, Money team
Interest in a phenomenon known as “dark tourism” has been steadily rising in recent years – but what is it?
To find out, we’ve spoken with tourism academic Dr Hayley Stainton and renowned dark tourist and author Dr Peter Hohenhaus, who runs a dark tourism website.
What is it?
In general, dark tourism involves travelling to sites connected to death or disaster.
“Dark tourism has been around for as long as we have been travelling to places associated with death,” Dr Stainton says.
However, the term wasn’t officially coined until 1996 by John Lennon, a professor of tourism at Glasgow Caledonian University, in Scotland.
“Not everyone is familiar with the term,” says Dr Stainton, “[but] many people have been a dark tourist at some time or another, whether intentional or not.”
Some examples of the most famous sites
Areas with a degree of infamy, like Alcatraz, are extremely popular spots that also fall under the “dark tourism” umbrella.
How popular is it?
Dr Hohenhaus and Dr Stainton say they have noticed a rise in its popularity.
“Tourists are looking for more unique and unusual experiences,” Dr Stainton says.
“This has seen a move away from the more traditional ‘sun, sea and sand’ type holidays to a variety of different tourism forms, which includes dark tourism.”
Dr Hohenhaus adds: “Maybe people want to connect to more recent and hence more personally relevant history – that is definitely the case with myself.”
He goes on: “I think I’ve learned more about the world through dark tourism than through all of my formal education or my previous academic career.”
Is it ethical?
This is the big question associated with dark tourism.
Dr Stainton says that while problems do arise, the stigma around the practice is often misguided.
“People don’t visit sites like the killing fields in Cambodia or the site of Chernobyl for ‘fun’ – they visit for the educational experience, as dark tourism is often also a form of educational tourism,” she says.
Problems arise when tourists are not respectful to those who may have been impacted.
“For instance, taking inappropriate photos or laughing and joking when others may be in a state of mourning.”
Notorious examples include people taking selfies outside Grenfell Tower and at Auschwitz.
“It is therefore imperative that dark tourists are considerate of those around them and respectful at all times,” Dr Stainton says.
“As long as you are not just after a cheap sensationalist thrill – take dark tourism seriously and do it right, and it can be an immensely enriching thing to engage in.”
Dr Hohenhaus
Where could you go?
These are Dr Hohenhaus’ recommendations:
What do you think of dark tourism? Is it misunderstood, educational or abhorrent? Let us know in the comments section…
John Lewis will be sharing its job interview questions online in an attempt to find the “best talent”.
The retail chain hopes that allowing candidates to view questions before an interview will allow prospective employees to “really demonstrate what they can do” and prepare, the Financial Times reports.
John Lewis talent acquisition lead Lorna Bullett told Sky News that interviews can feel daunting and “nerves can seriously impact performance”.
She added the company want “the right people” from a variety of backgrounds and with “the best talent” to join.
“It makes absolute business sense to find ways of helping candidates to really demonstrate what they can do,” she said.
Ms Bullett added that the process will be “no less rigorous”.
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