Millions of Mastercard users in the UK might receive up to £70 each after a court decision found some past fees charged by Mastercard unfair. The case, led by former financial ombudsman Walter Merricks, involved fees that affected prices between 1992 and 2008.
Key Facts
A court ruled that some fees charged by Mastercard were unfair.
Former financial ombudsman Walter Merricks led the case.
The case involves fees charged between 1992 and 2008.
It was argued that 46 million UK shoppers paid higher prices due to these fees.
The fees were initially paid by retailers but were passed on to consumers in higher prices.
The legal action started after a 2007 European Commission ruling against Mastercard's fees.
Mastercard has been asked for a comment on the ruling.
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Peter Green Chilled, a company that supplies major UK supermarkets, was targeted by a ransomware attack. This attack temporarily halted their order processing, but their transport operations continued. The incident highlights challenges faced by smaller logistics companies in dealing with cyber threats.
Key Facts
Peter Green Chilled supplies supermarkets like Tesco, Sainsbury's, and Aldi.
The company was hit by a ransomware attack, where hackers lock data and demand money.
Orders were not processed on the day of the attack, but deliveries prepared earlier were sent.
The transport activities of the company continued without interruption.
One customer, Black Farmer, is concerned about meat products going to waste due to delivery delays.
Cyber attacks on the food distribution sector in the UK have increased significantly.
Half of the UK's food goes through the cold chain sector, making it a key target for hackers.
Many companies do not report cyber attacks to avoid losing control or facing more issues with law enforcement and insurers.
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A survey by the Felix Project reveals a likely increase in demand for food banks in London, with 21% of providers expecting demand to double in the next year. Most food banks have already seen a rise in users, partly due to financial pressures on households.
Key Facts
A survey included 614 community organizations, mostly food banks, in London.
21% of these organizations expect demand to double or more in the next year.
Nearly two-thirds expect some increase in demand for their services.
85% of food bank providers have seen more people using their services since last year.
Almost half of the food banks reported an increase in first-time users.
The Felix Project delivers extra food to about 1,200 groups and schools in London.
Many organizations offer additional services like debt advice and mental health support.
The rising cost of living is making it harder for people to afford basic needs like food.
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The UK has secured new trade deals with the US, India, and the EU. These agreements are expected to boost the UK economy and improve trade opportunities. The UK government plans to pursue additional trade deals with Gulf countries.
Key Facts
The UK made trade deals with the US, India, and the EU.
The agreement with the EU includes reduced checks on UK food exports.
The UK-India deal aims to boost exports of whisky and cars to India and reduce taxes on Indian clothing and footwear.
The UK-US deal includes reducing tariffs on some goods.
A potential trade pact with Gulf countries, including Saudi Arabia and Qatar, is in discussion.
UK economic growth increased by 0.7% in the first quarter of the year.
There is no current plan for a trade deal with China, focusing instead on long-term relationships.
The UK government aims to improve living standards by growing the economy.
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The Post Office has agreed to pay compensation to hundreds of former sub-postmasters after accidentally leaking their names and addresses on its website. People affected by this data breach can receive up to £5,000, and the Post Office is open to considering higher claims in special cases. The issue is linked to the Horizon IT scandal, and many of the sub-postmasters have already received compensation.
Key Facts
The data breach involved the names and addresses of 555 former sub-postmasters.
The breach was announced in June of the previous year.
The Post Office has agreed to pay compensation up to £5,000 per individual.
The breach is related to the ongoing Horizon IT scandal.
A law firm named Freeths secured the compensation agreement for the affected sub-postmasters.
Former Post Office chief executive Nick Read called the leak a "truly terrible error."
The compensation amount varies depending on whether the person lived at the leaked address.
Individuals can pursue further actions for additional compensation if needed.
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Greggs, a UK bakery chain, is testing a new approach by moving food and drinks behind the counter in a few stores to prevent shoplifting. This change targets locations with high theft rates and is not planned for all 2,600 stores. Shoplifting incidents in the UK have increased significantly, with police and retailers reporting a rise in cases.
Key Facts
Greggs is moving self-serve food and drinks behind the counter in selected stores.
The trial targets areas with high levels of theft and disruptive behavior.
The change will not affect all Greggs locations.
Police reported a 20% rise in shoplifting cases in 2024, totaling 516,971 incidents.
Retailers noted 20.4 million thefts last year, according to the British Retail Consortium.
Some organized shoplifting gangs use communication devices and distractions to steal.
Retail crime increased after the Covid pandemic, influenced by rising living costs.
Reports indicate a change in shoplifter demographics, including more seniors stealing.
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The UK and EU have signed a new trade deal that aims to reduce trade barriers, which could help lower food prices in the UK. Business leaders welcome the deal, although they note that more work is needed to help UK businesses fully benefit from it.
Key Facts
The UK-EU trade deal addresses post-Brexit issues like fishing rights and trade.
Morrisons' CEO stated that the deal could reduce costs and delays in food imports from the EU.
Asda sees the deal as a chance to lower costs and reduce bureaucracy for products imported from the EU.
Some business groups believe further steps are needed despite the deal's benefits.
UK food prices have been rising, with high food inflation rates seen recently.
The deal's impact on prices depends on suppliers passing on potential savings.
Business groups like the CBI and BCC praise the deal but call for continued efforts to strengthen trade relations.
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The UK government has secured a new deal with the EU to improve their trading relationship, aiming to boost the economy. The deal includes reducing paperwork for food exports, potentially benefiting UK exports to the EU. However, the predicted economic boost is much smaller than the losses some experts associate with Brexit.
Key Facts
The UK and EU have made a new trade deal to improve their economic relationship.
The deal reduces some trade barriers, like paperwork and checks, for agricultural products.
Previously, extra paperwork caused UK food exports to the EU to drop by about one-third since 2019.
The agreement could be worth around £8.9 billion to the UK by 2040, roughly 0.3% of GDP.
Some food prices may have risen due to previous trade barriers, but changes depend on suppliers passing on savings.
The UK extended a fisheries agreement by 12 years, which affects a small part of its economy.
Economists predict Brexit has reduced UK GDP by an estimated 4%, costing the economy about £100 billion annually.
Future benefits may come from youth mobility and recognizing professional qualifications, but these won't fully offset Brexit-related losses.
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The UK government has made a 12-year deal with the EU that allows EU fishing boats access to UK waters in exchange for fewer checks on food exports. Some in Scotland's fishing industry criticize the deal, saying it harms their interests, while others believe it will reduce shipping delays for products like shellfish and salmon. The agreement is part of efforts to improve UK-EU relations post-Brexit.
Key Facts
A 12-year agreement was reached between the UK and EU on fishing rights.
The deal allows EU boats to access UK waters without increasing their numbers.
In return, the UK sees fewer checks on food exports to the EU.
The Scottish Fishermen's Federation criticized the deal, calling it a "disastrous" decision for Scotland’s fishing industry.
Salmon Scotland welcomed the deal for reducing delays and improving market access.
The agreement also aids shellfish producers who faced restrictions in recent years.
The fishing industry's previous post-Brexit gains will continue until 2038.
Critics are concerned that the UK loses negotiating leverage with this agreement.
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Gas and electricity bills are expected to decrease in July due to an updated energy price cap. This change follows an earlier increase in April and affects many households in England, Wales, and Scotland. The energy price cap is a limit on how much can be charged per unit of energy.
Key Facts
The energy price cap limits the maximum price for each energy unit.
The cap is reviewed every three months and currently applies to around 22 million households in England, Wales, and Scotland.
From April to June 2025, gas prices are capped at 6.99 pence per kilowatt-hour (kWh), and electricity at 27.03 pence per kWh.
The average annual bill for a household using typical energy amounts is £1,849 if paid by direct debit.
Those paying by cash or cheque every three months are charged £1,969 annually.
The energy price cap does not apply to households in Northern Ireland.
Submitting a meter reading when the price cap changes helps avoid incorrect billing.
Fixed-price energy deals are not affected by the price cap changes but may involve penalties for early termination.
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Energy bills in the UK are expected to drop by £129 annually starting in July, according to forecasts. The new energy price cap from Ofgem will lower the average yearly bill for a typical household using gas and electricity to £1,720.
Key Facts
Energy bills in the UK are predicted to fall by £129 a year starting in July.
The drop will reduce the average annual energy bill for a household to £1,720.
Ofgem, the UK energy regulator, sets the price cap every three months.
The price cap applies to about 22 million households in England, Wales, and Scotland.
It is based on typical household use: 11,500 kWh of gas and 2,700 kWh of electricity.
A "kWh" or kilowatt-hour is a measure of energy use.
The price cap is based on the unit cost of energy, so total bills depend on how much energy is used.
Analysts expect further decreases in the price cap in October.
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Colombia is considered the most dangerous country for trade unionists, with many facing attacks and even murder for their activism. The International Trade Union Confederation notes that nearly half of the 22 trade unionists killed worldwide in a recent year were in Colombia.
Key Facts
Jesús Cometa, a trade unionist in Colombia, survived a shooting while his bodyguard was injured.
Colombia has recorded over 3,000 murders of trade unionists since the early 1970s.
In the year up to March 2024, 22 trade unionists were killed worldwide, with 11 in Colombia.
Many attacks target activists in small villages rather than high-profile union leaders.
Colombia's civil conflict involves left-wing rebels, right-wing paramilitaries, and drug traffickers, impacting trade unionists.
Attacks often occur in areas linked to illegal activities, like coca plantations and illegal mining.
Despite risks, union members continue to hold protests and work in Colombia.
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The UK government has announced new rules to regulate buy now, pay later (BNPL) services to protect consumers. These rules will require lenders to check if customers can afford the debt and make it easier for users to get refunds. This move comes as the use of BNPL services has increased significantly in the UK, with concerns that people might be spending beyond their means.
Key Facts
The government introduced new rules to regulate buy now, pay later (BNPL) services.
Lenders must perform affordability checks to prevent excessive borrowing.
Shoppers will get faster access to refunds under the new rules.
11 million people in the UK used BNPL services in the last year.
Consumer groups support the regulation, as many users were unaware of potential debt.
BNPL allows paying for purchases in installments over weeks or months.
Measures include the right to complain to the Financial Ombudsman.
The Financial Conduct Authority found BNPL usage rose by two million in three years.
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The UK government is actively working to reach a deal that would allow UK passport holders to use e-gates at EU airports. This would help reduce waiting times for travelers. Discussions are ongoing, and include potential agreements on trade, security, and a youth mobility scheme allowing young people to live and work in the UK and EU.
Key Facts
The UK is negotiating with the EU to allow UK passport holders to use e-gates at European airports.
European relations minister Nick Thomas-Symonds is heading these talks.
The UK and EU will have their first summit since Brexit to discuss various agreements.
Possible announcements include UK access to an EU defense fund and reducing export/import paperwork.
A youth mobility scheme may be created, letting young people from the UK and EU live and work in each other's regions.
There are concerns about the UK aligning with EU standards, which some see as limiting UK sovereignty.
Discussions focus on areas like job opportunities, reducing travel queues, and lowering household costs.
Decisions on contributing to EU projects will be made individually.
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The UK's biggest gas storage facility, Rough, might close if the government doesn't help with its redevelopment. Centrica, the company that owns it, wants to invest £2 billion to expand its capacity, but it is losing money and needs a pricing plan that ensures stable revenue. The government views the site's future as a business decision for Centrica but is open to discussing potential support.
Key Facts
Rough is the largest gas storage facility in the UK, located off East Yorkshire.
Centrica owns Rough and needs government support to invest £2 billion in upgrading it.
Without government help, Centrica expects to lose £100 million this year and might close the facility.
Rough currently provides about half of the UK's gas storage capacity.
The facility was closed in 2017 and partially reopened in 2022 following energy supply issues from the Ukraine crisis.
Centrica seeks a "cap and floor" pricing mechanism to stabilize revenues.
The UK currently has 12 days of gas storage; losing Rough would cut this to 6 days, but full capacity could extend it to 25-30 days.
The government is open to discussing proposals as long as they are cost-effective for taxpayers.
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A company in London is hiring someone to take care of its office cat, Jerry. The job involves feeding, grooming, and playing classical music for the cat, and it pays between £65 and £100 an hour.
Key Facts
The job includes taking care of a cat named Jerry in an office in London.
Responsibilities include feeding, grooming, and playing classical music for Jerry.
The pay rate is advertised as £65 to £100 an hour, based on experience.
The company expects candidates to work a total of 40 hours weekly but notes the actual hours will likely be 8 to 12 hours a week for part-time workers.
Jerry, a British Shorthair cat, belongs to the company's boss and is said to boost staff morale.
The company has received over 250 applications for the position.
The company is called Aviamarket, an aviation marketplace.
Previously, companies have posted unusual job ads, like seagull scarers and professional tasters.
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US prosecutors are considering dropping a criminal charge against Boeing related to two 737 Max crashes. This might involve a non-prosecution agreement, allowing Boeing to avoid a trial set for June and avoid a criminal record, although this has disappointed the victims' families.
Key Facts
US prosecutors may drop a criminal charge against Boeing related to two 737 Max crashes.
Boeing faces accusations of fraud connected to two crashes in 2018 and 2019 that killed 346 people.
The crashes were linked to problems with a flight control system that was not disclosed to pilots.
Boeing had previously paid $2.5 billion in fines and agreed to improve safety to avoid prosecution.
The DOJ reopened the case after an incident last year and Boeing faced a new fraud charge.
A proposed new settlement with a court monitor was rejected by a judge in December.
A non-prosecution agreement would let Boeing avoid a criminal record.
The trial is currently scheduled for June 23.
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Novo Nordisk, the company behind popular weight-loss drugs like Wegovy and Ozempic, is replacing its chief executive, Lars Fruergaard Jørgensen, due to challenges in the weight-loss market and a significant drop in its market value. Jørgensen has led the company since 2017 and will remain in his role until a new leader is appointed.
Key Facts
Novo Nordisk's market value has dropped by about half in the last year.
Lars Fruergaard Jørgensen has been CEO since 2017.
Competitors like Eli Lilly are gaining in the weight-loss drug market.
The Novo Nordisk Foundation is involved in the decision to replace the CEO.
Former CEO Lars Rebien Sørensen will have a larger role on the board.
Many analysts were surprised by the sudden leadership change.
Sales grew by over 25% to more than 290bn Danish kroner last year, but growth is now slowing.
The company projects future sales growth of 13% to 21%.
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Four Premier League football clubs—Bournemouth, Fulham, Newcastle, and Wolves—plus Burnley, have been warned by the Gambling Commission about connections with an unlicensed gambling company, TGP Europe. The company lost its license in the UK for not checking its business partners properly and not following anti-money laundering rules.
Key Facts
TGP Europe operated betting websites that served as shirt sponsors for five football clubs.
The Gambling Commission warned these clubs they could face prosecution for promoting unlicensed gambling businesses in the UK.
TGP Europe lost its UK license for failing to perform adequate checks on its partners and breaking money laundering laws.
The company's gambling brands still appear on matchday shirts for Bournemouth, Fulham, Wolves, and Burnley.
Newcastle used to have a TGP Europe brand as a shirt sponsor until 2023 and currently has an official partnership with the brand.
The Gambling Commission has contacted other clubs about similar issues with TGP Europe.
Premier League clubs have agreed to remove gambling sponsorships from shirt fronts by the end of the 2025-26 season.
Enforcement measures are being taken to ensure TGP Europe's unlicensed sites cannot be accessed in the UK.
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Thames Water and other water companies in the UK may not be able to pay bonuses to their executives due to new rules set by the regulator, Ofwat, starting next month. These rules will prevent companies from using money from customers, shareholders, or lenders for bonuses when environmental and financial standards are not met.
Key Facts
Ofwat, the water industry regulator, is introducing new rules to block bonuses for water company executives.
The rules will stop firms from using funds from customers, shareholders, or lenders for executive bonuses.
Thames Water is the UK’s largest water company and has faced criticism for its debts and environmental record.
Thames Water recently secured a £3 billion emergency loan to restructure its debts.
US private equity firm KKR is chosen as a preferred partner to potentially buy Thames Water.
The new rules are part of the Water (Special Measures) Act, which takes action on undeserved bonuses.
The ban is retrospective, meaning bonuses paid in the last financial year might be recalled.
Environment Secretary Steve Reed supports the ban to prevent water companies from profiting amid failure and pollution issues.
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