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Gordon Brown issues warning about inflation and recession Get pensions news and advice plus latest money alerts for FREE now 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 The effects on global supply chains due to the war in Ukraine, particularly the rise in food and energy prices, were partially to blame. The report comes as Sainsbury's boss Simon Roberts warned of intensifying pressures on households across the country. Related articles Pippa and Carole Middleton snubbed after being rejected at Wimbledon The Last Kingdom's Sigtryggr star in sweet tribute to co-star He said: "We really understand how hard it is for millions of households right now and that's why we are investing £500 million and doing … [Read more...] about Bank of England warning: UK told to brace for major economic storm – panic as prices erupt

The boss of Sainsbury’s has warned that pressure on household budgets “will only intensify over the remainder of the year” as he pledged to invest more money to improve value for shoppers. Simon Roberts , chief executive of the supermarket group, said it is working to reduce costs across its operations amid continued inflation. “We really understand how hard it is for millions of households right now and that’s why we are investing £500 million and doing everything we can to keep our prices low, especially on the products customers buy most often,” he said. “The pressure on household budgets will only intensify over the remainder of the year and I am very clear that doing the right thing for our customers and colleagues will remain at the very top of our agenda.” Recommended Over £130m handed to housing providers named and shamed by regulator The chief executive, who took the top role in 2020, said more customers are switching to own-brand products … [Read more...] about Pressure on household budgets will only intensify, warns Sainsbury’s boss

After enduring six months of rising inflation , Americans could feel the pinch even more in the second half (H2) of the year, according to one banking expert who has warned that the country's economic turmoil is about to get even tougher. The annualized rate of inflation recorded its highest jump in May since 1981 as the administration of President Joe Biden faces pressure over how to curb soaring costs, exacerbated by record gas prices being blamed on the Ukraine war . Adding to the bad economic outlook was the news last week that at 20.6 percent, the S&P 500 endured its largest first half decline since 1970. But inflationary pressures are likely to get worse, according to HSBC's global chief strategist Joe Little who said that the era of historically low inflation and interest rates was over. "Any of the tailwinds for investment markets are now becoming headwinds," he told CNBC on Tuesday. "That points to a phase of ongoing market turbulence." The network reported … [Read more...] about High inflation and higher interest rates still to come, banking chief warns

SUMMER holiday hotspots are seeing a new wave of Covid as tourists are warned the virus is “still taking lives”. Cyprus, France, Greece and Portugal are among the nations with the highest incidence rates. The World Health Organisation has said BA.4 and BA.5 Omicron subvariants are driving the new wave. Both Covid strains, which are more mild than those that came before, share a mutation linked to greater transmissibility. More concerning is that there are early indications that previous Omicron infection does not protect against BA.4 and BA.5 . In its weekly report, published last Wednesday, the WHO said cases in Europe had risen by 33 per cent in one week, the second highest after Eastern Mediterranean (47 per cent). Read more on coronavirus WHAT A S-PAIN Spain holiday warning - Covid rules may be brought BACK ahead of summer hols VIRAL WAVE New Covid warning as Omicron variants set to fuel sharp rise in … [Read more...] about Summer holiday warning as Covid cases soar in European hotspots

HOLIDAYMAKERS are being urged to take care when buying travel insurance as new research reveals four in 10 policies offer no protection for cancellations caused by strikes. The study by Which? looked at 199 policies offered by 71 insurance companies. It then rated them dependent on the level of protection offered in 61 key areas. However, 78, roughly four in 10, of the 199 policies, did not offer any coverage for trips cancelled due to strike action. The remaining policies, bar one, did offer coverage. Covid cover was another area where Which? found huge disparities in the level of cover offered as well. Read more on flight chaos GROUNDED You'll find out if your summer holiday flight will be cancelled THIS WEEK TRAVEL CHAOS EasyJet cancels MORE flights across Britain It comes following months of travel chaos for many holidaymakers trying to fly in or out of the UK. On Sunday, passengers were left … [Read more...] about Summer holiday warning over airport strikes as four out of 10 travel insurance policies WON’T cover you

PARENTS have been warned about the state of their kids’ school meals amid the cost of living crisis. It’s feared childrens' diets will become less healthy as a result of items being cut from the menu. Beef, chicken and some fruits and vegetables are deemed too expensive for companies to serve up. Laca, the school food caterers’ association, made some concerning findings when surveying 160 catering companies in England and Wales which cover more than one million pupils. The survey, in May, revealed a combination of rising food costs, supply chain issues and inadequate funding was putting healthy meals at risk. This includes kids who are on free school meals , which campaigners say could be their only hot meal of the day. Read more on cost of living TAX HOPE Boris and Rishi issue joint pledge to cut business tax and reduce cost of living CASH QUESTIONS Some households could get more than one £650 cost of living … [Read more...] about Warning to all parents whose kids are eligible for free school meals

BRITS have been urged to take more selfies as cases of deadly skin cancer rise. Medics have warned sun seekers to be aware of the most common signs of the illness as many experience hot weather . Around one in three people never look for tell-tale signals such as a new mole or a change in colour or shape of an existing one. Research from skin tracking app Miiskin found that just two in five Brits would check for skin cancer if an NHS screening was offered to them. The data comes as cases of the illness continue to rise in the UK with more than 2,500 skin cancer mortalities a year and 140,000 annual incidences of the disease. Around 15,000 of these tumours are melanoma , the most dangerous form. Figures shows that a quarter of Brits are concerned that tanning or sunburn in the past has damaged their skin , and many now regularly take skin ‘selfies’ to help spot signs of the disease developing. One in five have taken photos of their moles to track for … [Read more...] about Urgent summer health warning as millions of Brits urged to take more selfies

SUMMER holidays risk being thrown into chaos again this year as soaring Covid cases could mean restrictions are brought BACK. Experts have warned that spiralling cases mean countries abroad may be forced to bring back some of the strict rules which includes face masks, tests and Covid passes. Lib Dem MP Layla Moran warned that holidays both in the UK and abroad could be at risk. She told the Mirror : "It is possible that holiday plans will be ruined due to rising Covid rates in the UK. "Other countries could reintroduce restrictions on arrivals from Britain, and transport companies - already in crisis from the Government's mishandling of Brexit and industrial action, are likely to see an increase in staff shortages with more off sick." Cyprus, France, Greece and Portugal are among the nations with the highest incidence rates. Read more travel stories HOLIDAY HELL Holiday warning as four out of 10 travel insurance policies WON'T cover … [Read more...] about Brits warned their foreign holidays could be SCRAPPED with travel restrictions reintroduced

Meghan Markle has been warned against running to be President of the United States in 2024. Rumours have been swirling for the last 12 months about a potential bid for leadership from Duchess of Sussex . Earlier this year, a senior source said that the Democratic party was “buzzing” about Meghan’s potential political career. READ MORE: Queen 'surprised' by Meghan and Harry's Lilibet name choice, socialite claims She also reportedly has "ambitions" in the field, the source said, as well as "potential backers" already. Meghan and Harry first dipped their toes into politics during the 2020 presidential election, which saw Joe Biden beat out Donald Trump to the top spot. The Duchess urged voters to "reject hate speech", seen as a direct criticism of Trump. Her comment led to the sitting president at the time to claim he was "not a fan" of Meghan. And now an expert has warned that she would have to make a lot of “sacrifices” should she want to take on the most … [Read more...] about Meghan Markle faces ‘immense sacrifices’ if she runs for office, warns expert

Spain's government has declared eight regions, including the capital Madrid, as disaster zones following the snowfall and cold temperatures brought by Storm Filomena. The Council of Ministers announced on Tuesday that the community of Madrid, Andalusia, Aragon, Asturias, Castile-La Mancha, Castile and Leon, Navarre, and La Rioja were considered "areas seriously affected by a Civil Protection Emergency". The announcement means emergency subsidies and other support measures will be provided to the communities. Snow in Spain: Clear up begins after blizzards but ice now posing a major hazard Record snowfall blankets Spain bringing transport in and out of Madrid to a standstill In pictures: Swathes of Spain under drifts of snow as weather alerts remain in place Finance Minister María Jesús Montero said that although the damage had not yet been precisely quantified, the decision had been taken to speed up the processing of the aid procedures and avoid … [Read more...] about Storm Filomena: Spain declares Madrid and 7 other regions disaster zones as flood warning issued