MetService An influx of cold air is set to bring temperatures plummeting across Aotearoa New Zealand for the rest of this week. Niwa is warning there would be a real hypothermia risk for people and livestock from an icy cold snap forecast to move up the country. Nearly all eastern and southern lowland areas of the South Island will have an “effective temperature” between -5C and -10C around 1am Thursday, the agency is forecasting. The effective temperature includes factors that contribute to how the temperature feels to a warm-bodied creature. So along with the normal air temperature, that can also include wind chill and humidity. A pulse of freezing air is due to spread over the country in the next two days, starting from the south on Tuesday evening. It brings with it the chance of heavy snowfalls to sea level in some parts of the South Island, and the possibility of some snowfalls in the lower North Island, including a chance of snow in downtown Wellington. READ … [Read more...] about ‘Hypothermia risk’ to people and livestock as temperatures plunge
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You've found a home you love—now you just have to make it yours. If you don't have a hefty deposit or a sparkling credit score, a conventional mortgage might not be an option but there are alternative routes to homeownership. Here we look at some of the financing methods available to first-time buyers and get expert advice on their pros and cons—plus the state of the property market—from real estate agents. The State of the Housing Market The real estate market has seen record price rises over the past two years, especially in cities such as Phoenix, Austin, Raleigh, Charlotte and Boise, according to Nicholas Athanail, a real estate broker at the Corcoran Group in New York City. He told Newsweek: "NYC did see a COVID slump in 2020, but has bounced back with a vengeance. The average price of a Manhattan apartment jumped 19 percent over the previous year's and sales hit a record $7.3 billion in the first quarter of 2022. Economists expect this growth to slow, he added, but … [Read more...] about Can’t Afford a House? Here Are 4 Unconventional Ways to Buy a Property
T ory Party Conference latest: Kwasi Kwarteng brushes off "a little turbulence" from mini-Budget Bank of England monitors Credit Suisse amid market turbulence FTSE 100 closes up slightly 1pc; Pound gains to $1.13 Roger Bootle: It will spark strikes and protests, but public sector pay has to fall Sign up here for our daily business briefing newsletter The Government’s U-turn on tax cuts may not protect the UK from a credit rating downgrade, S&P Global has warned. Maxim Rybnikov, an analyst at the rating agency, said the move wouldn’t materially affect fiscal and economic projections made last week. S&P downgraded its outlook on the UK’s AA credit rating from stable to negative in the wake of Kwasi Kwarteng’s tax-cutting fiscal plans. It forecast that the government deficit will widen by an average 2.6pc of GDP annually to 2025, while net general government debt will continue on an upward trajectory. Mr Rybnikov said the bulk of the … [Read more...] about Climbdown on 45pc tax doesn’t change ‘negative’ outlook for UK, warns S&P
The death of the Queen has plunged the nation into mourning for its longest-reigning monarch. Queen Elizabeth II died yesterday at the age of 96 after 70 years on the throne. During that time, she visited more than 100 countries and sat for more than 200 official portraits. The Queen was also served by 15 Prime Ministers and met 13 of the 14 US Presidents who held office over the course of her reign. She sent 300,000 cards to people celebrating their 100 th birthday and more than 900,000 messages to couple’s toasting their Diamond (60 th ) Wedding Anniversaries. Metro.co.uk reflects on 70 facts about the Queen originally published to celebrate her 70 years on the throne: – 1. On September 9, 2015, the Queen became the longest reigning monarch in British history, surpassing the reign of her great-great-grandmother Queen Victoria. In a speech given on the historic day during an engagement in the Scottish Borders, the Queen said: ‘Inevitably a long life can … [Read more...] about 70 facts about the Queen for every year of her reign
Pensions: Expert offers tips for contributions SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info As everyday living expenses soar, many people will be worried about the here and now, and covering energy bills as well as other rising costs. However, this could leave adequate pension savings and the expectations of a “comfortable retirement” under threat. Related articles State pension payments split into two tiers - will triple lock return British Gas warns unplugging chargers could save £60 on energy bills Reducing or delaying pension contributions puts Britons at risk of widening the gap between the amount people believe they need, and what they are actually on track to achieve. A study by Nutmeg found many … [Read more...] about Pension warning as Britons fall short by £271,000 for retirement – do you have enough?
Out of the blue, and for no good reason, the Conservatives have conceded the mantle of economic competence to the Labour Party. For years the libertarian right has talked a great game. Growth is easy, they insisted. Just slash taxes. Cut regulations. Cancel workers’ rights. Privatise public services. Build over the countryside. If only they could get their hands on the levers of power. Now, with Liz Truss in Number Ten, the libertarians have grabbed the levers and the Government is decidedly theirs. Following the disastrous and unconservative Budget ten days ago, the Adam Smith Institute declared itself “encouraged to see so many policies … we have advocated for over many years.” The Institute for Economic Affairs was just as cockahoop, describing the package as “guided by sound economic thinking”. As a US libertarian mocked delightedly, “you say ‘trickle-down economics,’ I say ‘net positive spillovers from cultivating upper-tail human capital.’” In other words, the Budget … [Read more...] about Pastiche Thatcherism is not the solution to Britain’s problems
When Stephen Bird took the reins of struggling asset manager Standard Life Aberdeen in September 2020, he noted that “few companies survive into their third century.” The business, which traces its roots back to 1825, was grappling with a period of decline following a botched merger of two bastions of the financial services world – Aberdeen Asset Management and former mutual Standard Life – and a failed co-leadership experiment under City bigwigs Martin Gilbert and Keith Skeoch. Bird, who styled himself as the “reset guy” , was drafted in to reverse the fortunes of the blue-chip money manager , which had seen assets under management haemorrhage from £670bn at the time of the 2017 merger to £512bn when the Scot joined. Two years on, and Bird’s masterplan looks more like relegation than reset. City analysts are calling for a radical overhaul of the business, including a sale or break-up, and raising questions about Bird’s own position. It begs the question: will the company … [Read more...] about How Abrdn lost its way – and its vowels – under chief Stephen Bird
Published 3 hours ago comments Comments Share close Share page Copy link About sharing By Douglas Fraser Business and economy editor, Scotland Scots business leaders need more confidence to build up companies to scale, according to the chair of the Scottish National Investment Bank. Willie Watt said the economic strategy has been more successful in encouraging people to start up businesses, which has been a weakness of the Scottish economy. But he said only by growing those start-ups will Scotland tackle its weakness in productivity growth. The financier was commenting on the publication of the first full-year set of accounts by the publicly-owned lender. Investment bank boss paid £117,500 after quitting Bank chief insists she quit for personal reasons He said it had invested more than £129m in the year to March, in partnership with … [Read more...] about Turmoil making investment harder, says bank chief
Published 2 hours ago Share close Share page Copy link About sharing By Douglas Fraser Business and economy editor, Scotland A U-turn on top rate tax exposes the rest of Kwasi Kwarteng's Growth Plan to more scrutiny. The tax cuts remain very expensive, and there's a growing expectation that spending will have to pay much of the price. It also brings us back to the much less controversial splurge on uncosted, untargeted cuts to energy bills, giving the most to those who least need it, and undermining the need to reduce energy use. It was a 'distraction', said Kwasi Kwarteng about plans to scrap the 45p rate of income tax for higher earners. Removing the top rate of income tax, outside of Scotland, saved those who pay it an average of £10,000, and 'the optics' - how it looks, politically - were beyond inept. This was while price inflation was … [Read more...] about Without a ‘distraction’, who pays the bills?
There is a mounting risk that fuel prices could soon begin to rise again as major oil-producing countries ponder a big cut in output. The Opec+ cartel, which includes Saudi Arabia and Russia among its main members, is expected by markets to reveal this week a collective target to reduce delivery by more than one million barrels per day. The price of Brent Crude, which rose 4% on Monday in anticipation of such a cut, was up further during Tuesday's trading - to just shy of $90 per barrel. Follow live updates on the cost of living crisis Opec+ is responding to weaker demand for oil globally as economies tackle high inflation though there is pressure from the West to maintain supply to help tame the pace of price rises. While the current Brent price remains far below the early Russia-Ukraine war highs of above $120 per barrel, the recent weakness of the pound would be expected to contribute to pressure on UK pump prices, potentially adding to the cost of living crisis … [Read more...] about Cost of living: Fuel prices could rise again as oil-producing states ponder output cut