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Last updated: 17:22 GMT, 17 January 2025
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FTSE 100 tops 8,500 to hit new record on hopes of rate cuts to boost flat economy

NEW The new all-time closing high came on the back of a weaker pound, which was trading at $1.22 against the dollar, and expectations of further interest rate cuts. Finance, mining and building stocks were among the top risers on the FTSE 100, which ended the day up 1.4 per cent or 113.32 points at 8,505.22. The domestically oriented FTSE 250 posted a more modest gain of 0.3 per cent to finish at 20,597.42.

Trading 212's double hike this week comes as an easy access cash Isa battle has been reignited, with rival Plum having also raised its rate to 5.06 per cent.

Our daughter won't be able to afford to live in our house after we die - what can we do?

My daughter, her partner, child and baby due this spring live with us as they cannot afford to rent or buy somewhere. They have been with us for five-plus years. What arrangements can we make when one of us dies as there will not be enough money to maintain the house? In our will our daughter inherits the house with her two stepbrothers who are both in their 50s. She is in her early 30s. Lawyer Rachel Waller tackles the issue.

Chief executive Nebehej posted: 'I appreciate that for many of you who backed us after our Series B this means that your investment is being realised at a loss.'

No rent, food magically appearing in the fridge and washing done on demand - it's little wonder some adult children choose to stay in the family home.

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BP to slash 8,000 jobs in bid to save £1.6bn: Axe falls as boss waters down its green

Chief exec Murray Auchincloss (pictured) told staff yesterday the oil giant would axe 4,700 roles - 5% of its global workforce - and 3,000 contractor positions. The cuts - part of a plan to save £1.6bn by the end of next year - come as Auchincloss faces intense scrutiny over the energy company's green strategy.

Shares in the cinema chain plummeted 12.2 per cent to 44.3p by the late afternoon, taking their losses over the past year to around 28 per cent.

Gloomy economic data did little to suppress London stocks this week, as a bumper performance across the board saw a heap of winners

The furniture retailer now forecasts profits for the six months ending 29 December to be around £16million to £17million, a gain of between £7million and £8million on the same period last year.

Shares in William Hill owner Evoke rose on Friday after the gambling group lifted profit guidance, following a second consecutive quarter of revenue growth.

The Office for National Statistics (ONS) estimated retail sales volumes contracted by 0.3 per cent between November and December.

More than half a million households will be forced into having smart meter before June -

Households that have resisted smart meters will be left with little choice when the Radio Teleswitch Service (RTS), which uses traditional meters, ends in June. The energy regulator Ofgem says it expects suppliers to transfer 100,000 customers using RTS every month until June, which they say is feasible under current plans.

The London-based FTSE 250 constituent said the purchase, which is set to be completed by mid-2025, will help to boost its UK trading and investing offering.

I had 181,000 Avios stolen by a hacker: Will I get them back? CRANE ON THE CASE

In late November, I noticed some strange activity on my personal email account. I started receiving hundreds of spam emails per hour, so I changed my password and thought that was the end of it. But in mid-December, I got a nasty shock when checking in for a British Airways flight. I logged into my Executive Club account, but noticed the email address and phone number registered to my account had been changed. My Avios - around 180,800 - had been transferred to someone else and my three companion vouchers had disappeared.

Young's plans to raise prices by up to 3.5% after Rachel Reeves' tax raid. This will add 20p to the cost of a typical pint of beer in London - taking it to £6.50.

When will EV charge pricing be shown on signs at petrol stations?

When will EV charging stations have live pricing in the same way fuel stations do? And how do you know how much a charge will cost? Here's our guide to EV charging pricing.

Scandi EV brand Polestar has confirmed it will be launching a premium compact SUV EV, joining the fastest growing and most profitable market segment.

EXCLUSIVE

The 1948 Ferrari 166 Spyder Corsa will go to auction on the shores of Italy's Lake Como with an estimate of up to €7.5M, which is £6.3M, or $7.7M.

February Bank of England rate cut a 'sure bet' as growth stumbles and inflation falls

The Bank of England looks set to resume cutting interest rates next month after official data revealed weaker inflation and anaemic economic growth. Economic output expanded by just 0.1% in November, the Office for National Statistics said on Thursday, missing forecasts of 0.2% but marking a return to growth after two consecutive months of contraction.

Premier Inn turns to robots to clean rooms after taking a £70m hit from Budget

Whitbread, also the owner of the Beefeater restaurant chain, said the automation of some cleaning tasks was part of a £50m cost-saving programme. This will help to offset higher employment costs imposed by Rachel Reeves, which analysts reckon will cost the hotel owner £70m.

The London-listed mining giants have held early-stage discussions about a combination of the two businesses, Bloomberg reported last night.

The fintech group expects the savings from job cuts will offset the 'annualisation of strategic hires' made last year, as well as inflation and national insurance rates.

Saba, run by Wall Street financier Boaz Weinstein (pictured with ex wife Tali Farhadian), needs to win at least 50% support from voting shareholders to succeed,

Dunelm revealed its turnover increased by 1.6 per cent to £490million in the 13 weeks ending 28 December and by 2.4 per cent to £894million over the first half of the financial year.

Is it time to fix your energy deal? LEE BOYCE thinks it is - here's what to do

Where the price cap heads next though is what makes a fix look more tempting right now - and what prompted me to fix in the summer of 2023, when my supplier sent over a fixed-rate offer.

BT will no longer retrofit green street cabinet into EV chargers after changing tack and turning attention to improving Wi-Fi connectivity for EV owners.

Is Aston Martin's hot new two-door two-seater Vantage Roadster - the ultimate soft top sports car? With a hefty £175k price tag the performance needs to speak for itself.

Why interest rates may NEVER fall back to their lows: What the end of the super-cheap

The era of super-cheap money is over, according to leading economists who argue interest rates will not fall back to the low levels enjoyed prior to 2022. This week, the cost of Government borrowing soared to its highest level for more than a quarter of a century, partly triggered by a global bond sell off and Labour's Budget plan to borrow and spend more. The presumption that interest rates will keep falling is now being challenged and doubts are growing over market forecasts.

Inflation worries eased on both sides of the Atlantic, boosting markets and providing respite to beleaguered Chancellor Rachel Reeves (pictured).

The Bank of England is not among the regulators invited to the Treasury to be reminded of their growth mandate enshrined in law in 2017.

New best buy easy-access cash Isa launched by Trading 212

DIY investment platform Trading 212 today boosted the rate on its cash Isa for new customers, bringing the rate above 5 per cent. This Is Money readers can sign up with this exclusive Trading 212 link to claim the promotional rate which is valid until the end of January.

The attempt to move services online and close phone lines are causing further issues and 'woe for taxpayers', according to Robert Salter, a director at Blick Rothenberg.

Torsten Bell is the new Pensions Minister: Who is he and what could he do for our

Torsten Bell became a new Labour MP at the last election after nine years as chief executive of the Resolution Foundation, an economic and social policy think-tank .The MP for Swansea West is also author of 'Great Britain? How We Get Our Future Back'. At the Department for Work and Pensions, he will take over a major review of pensions that was being carried out by predecessor Emma Reynolds.

The Bank of England opted to hold the base rate at its current level in December, meaning interest rates begin 2025 at 4.75 per cent.

The headline and core rate of inflation have both fallen. What does this mean for your finances and where does it leave the Bank of England on rate hikes?

My favourite cash Isas with rates of up to 5.05% that let you dip in and out: SYLVIA

It should be simple to get the best out of your cash Isa but it can prove tricky and time-consuming to navigate. Since the introduction of Isas 26 years ago, there have been plenty of rule changes. There are so many differences in what providers offer that you must go further than looking at the rate to make sure it works for you and your lifestyle.

We pick our five favourite cash Isas for savers. This is essential reading to help you choose a top savings account for your money that can also protect you from tax.

The ultimate guide to keeping your Spanish property dream alive - amid  plans for 100% tax

Paul Digweed, 52, and wife Jennifer, 50, (centre) bought a buy-to-let property in Murcia in June last year but fear they won't be able to afford to live there. Estate agent Victoria Lewis (right) believes there will be a surge in buying this spring while Quentin Murray (left), who is selling up his property in Aberdeen and moving to the Costa Blanca, said he is happy to pay Spanish taxes.

How to save money on energy: Your essential guide to bills

It can seem a little overwhelming trying to keep up to date with what is going on with our energy bills. But as prices soar, its more important than ever to stay in the know. This is Money takes a look at all of the essential things you should be aware of, from why the prices are increasing, to cutting down costs and switching to smart meters.

I've just moved into my first ever property. It is a brand new apartment which is within a converted mill. The pigeons continue to come, no matter how much we scare them.

Usual costs cover a cremation or burial, funeral director fees, a mid-range coffin, one funeral limousine, a doctor, and a minister or celebrant.

This is the town where property asking prices went up most in 2024, according to Rightmove

Property website Rightmove has revealed the places where asking prices rose the most last year. Locations in Surrey, Bristol and Manchester saw the biggest jump, while the UK average was just 1.4%. London was the only region where prices at the end of 2024 were lower than at the end of 2023, dropping by 0.8% or £5,575.

The recent attack on seven UK investment trusts represents a flashing red warning sign for UK markets and long-term investment trust shareholders.

In the summer of 2020, a younger, tech savvy colleague rushed into my office: 'Alex, you have got to write about Reddit and how young people are making pots of money on social media share tips.'

Should I give my house to my children now to avoid inheritance tax? Four problems to watch

The family home is likely to be one of the most valuable assets in your estate, says lawyer Philip Sillars. One common question is whether gifting the family home to children can reduce inheritance tax - but doing this is fraught with risks. Playing with the family property brings a plethora of potential problems.

Someone buying a retirement income today could secure a deal that is a massive 70 per cent higher than if they had bought in 2020, when deals hit a record low.

The gilt yield spike is unfortunate for a Labour party that has repeatedly accused Liz Truss 'crashing the economy', so what's going on.

Is it true pensions won't be increased by RPI inflation after 2030? STEVE WEBB replies

My pension rules show annual increases based upon the Retail Price Index. I understand that from 2030 CPIH (Consumer Prices Index including owner occupiers' housing costs) will be introduced which is less than the RPI. Will there continue to be an RPI? How can I protect this benefit?

'The biggest mistake in 2024 was not to be bullish enough,' says Fidelity's investment expert Tom Stevenson, but markets have began 2025 with a wobble.

Saving money is often less about financial know-how and more about addressing the emotional and psychological factors that drive our spending.

How to protect YOUR money from an economic meltdown: JEFF PRESTRIDGE on what you need to

Are the wheels coming off Rachel Reeves's 'wagon'? Political allegiance may determine your answer to this question, but financial markets are adamant in their opinion. They believe the wheels are about to spin off their axles with potentially damaging financial consequences for UK households and businesses. Investors in UK government bonds - both here and from overseas - just don't believe that the land of milk, honey, growth and prosperity promised by the Chancellor of the Exchequer when Labour stormed into power last summer is deliverable.

Musk - who has been dubbed Trump's 'first buddy' (pictured together) - founded Space X in 2002 and it is now a leading manufacturer of advanced rockets.

How much British homeowners make when they sell revealed - and why profits are shrinking

The amount of money sellers make from their homes is shrinking, according to new data analysis by estate agent Hamptons. Last year, the average homeowner in England and Wales sold their home for £91,820 more than they paid for it, having owned it for 8.9 years on average.

A new Netflix movie starring Rory Kinnear as Burnley entrepreneur Dave Fishwick has hit number one on its streaming charts over the weekend.

Car valuation experts warn over modifying a vehicle - here's why

We can exclusively reveal that car experts are warning against car modifications. Cap hpi says mods can tank the resale value and cause insurance headaches. Think twice before getting mod work done and always follow these tips...

Tesla's best-selling car has finally been given a facelift and emerges in 2025 with new looks and improved range. Here's a first glimpse at the Cybertruck-inspired tweaks.

I pay for my 13-year-old daughter's bus pass to travel to and from school. Last week, as she swiped the pass to get on board, it didn't work.

Best stocks & shares Isas: Pick the right investment account

Choosing the right DIY platform is crucial but a wealth of choice and a variety of charges can leave investors scratching their heads. We pick some of the best. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

Fixed mortgage rates are continuing to fall back from their summer peak, with a number of fixed rates deals now less than 5 per cent.

If you are planning on investing, or just want to know more, we tell you the 10 essential things to consider for a successful buy-to-let investment

We pick our five favourite cash Isas for savers. This is essential reading to help you choose a top savings account for your money that can also protect you from tax.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Premium Bonds Winners

Prize Area Value of bond
£1,000,000 Liverpool £18,025
£1,000,000 Gloucestershire £17,480
£100,000 South West Wales £49,000
£100,000 Inner London £10,000
£100,000 South Yorkshire £5,000
£100,000 Inner London £15,000
£100,000 North Yorkshire £20,000
£100,000 Wales £10,000
More January 2025 winners
View list of January 2025 winners
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