Business

Benefits errors trigger £5,000 refunds for ESA claimants

Image copyright Getty Images Tens of thousands of people on sickness benefits will receive backdated payments averaging £5,000 following government errors. The Department for Work and Pensions (DWP) has revealed it is paying more than £1.5bn owing to the mistakes. Some people have already received payouts of more than £10,000. The mistaken calculations were made […]

Business

Where are house prices rising the fastest?

Image copyright Getty ImagesImage caption Parts of Nottingham are popular among house-hunters House prices are rising the fastest in the East Midlands, increasing by 6.5% in the year to August, according to official statistics. Wales also showed a significant rise – up by 6.2% over the same period, according to the Office for National Statistics […]

Business

Cheaper food drives UK inflation lower in September

Image copyright Getty Images The UK inflation rate fell more than expected in September after hitting a six-month high in August. The Office for National Statistics said the fall to 2.4%, down from 2.7%, was largely driven by lower prices for food and non-alcoholic drinks. The Consumer Prices Index figure surprised economists who had been […]

Business

Claire’s ‘considers UK store closures’

Image copyright Alamy Accessories chain Claire’s is reported to be considering closing some of its UK stores. The Press Association said the High Street chain was talking to restructuring firms about “a number of options”. The chain has more than 370 stores in the UK, according to its most recent accounts. A spokeswoman for Claire’s […]

Business

Ford boss warns on ‘disastrous’ no-deal Brexit

Ford’s European boss has said a no-deal Brexit “would be pretty disastrous” for British industry and could affect the company’s future in the UK. Steven Armstrong said he was “still confident” a tariff-free frictionless trade deal would be done. But he told the BBC that a no-deal outcome would “force us to think about what […]

Business

US retail giant Sears files for bankruptcy

Image copyright Getty Images Sears, the US department store chain that once dominated America’s shopping malls, has filed for bankruptcy. Sears Holdings – which also owns Kmart – filed for Chapter 11 bankruptcy protection on Monday. The company has suffered, along with many other traditional retailers, from rising online competition from firms such as Amazon. […]

Business

Would you trust an auto-switching site for life?

Image copyright Getty Images Energy switching services help consumers find a gas and electricity supplier by automatically switching them to the best deal. They’ve been around for a couple of years, but now a giant comparison site – GoCompare – is getting in on the act. The company claimed its Weflip service will “automatically keep […]