Bank overdraft rates double from 12.34% to almost 27% in a year

Borrowers are being charged more than double the rate for their overdrafts compared with this time last year. The average arranged overdraft rate has risen from 12.34 per cent to almost 27 per cent in that period following new rules introduced in April, according to the data firm Moneyfacts. The …

Read More »

ALEX BRUMMER: The virus winners and losers of business

Covid-19 has not proved to be disastrous for every enterprise. Contrast B&Q owner Kingfisher with Whitbread. As Britain’s biggest hotelier, Whitbread is hard hit and 6,000 staff, both in management and at Premier Inn sites, are to lose their jobs. Even in August, when coastal venues were crowded, average occupancy …

Read More »

Brussels renews legal threat over UK internal market bill

Brussels has renewed its threat of legal action against the UK over London’s plans to override parts of the Brexit deal on Northern Ireland while vowing to continue contacts in the hope of resolving the dispute.  Maros Sefcovic, the EU commissioner in charge of the implementation of last year’s Brexit …

Read More »