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Last updated: 23:01 GMT, 11 January 2025
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Blow for Chancellor as bond rout costs hit £50bn

Reeves left a historically tiny buffer of £10 billion for this year in her Budget to meet her main rule that day-to-day spending be matched by tax receipts. But that reserve has all but gone after the cost of Government borrowing soared to a 27-year high and the pound slumped against the dollar in a turbulent start to the year on financial markets.

Retailers face an increase in business rates in April alongside a barrage of other costs imposed by the Chancellor.

Which US tech giant will pip its rivals to be world's first $4tn company?

Apple is the front-runner in a tight, three-way contest to surpass the $4 trillion hurdle for the first time. But with a current stock market valuation of $3.6 trillion the iPhone maker is closely followed by microchip pioneer Nvidia, whose shares have had an amazing run, powered by the boom in artificial intelligence spending. It is now worth $3.3 trillion. Software giant Microsoft is hard on its heels at $3.1 trillion. To put these huge numbers into context, Apple is now as big as the entire annual output of the British economy, with Nvidia and Microsoft close behind.

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

The building society said that the recent surge came from customers opting for cash to easier budget in the wake of the pandemic.

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.

Buy-to-let landlords are being hit by higher interest rates, higher costs and a less friendly tax regime.

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Telent boss is one of the Budget's few cheerleaders

Although head of the technology firm, Jo Gretton, admits the increase to National Insurance contributions 'will be a drag'. But the reason she gives the Budget at least one cheer is because most of Telent's business is with big, taxpayer-funded organisations such as Network Rail, the Maritime and Coastguard Agency and Transport for London. Telent may not be a household name but what it does affects all our lives.

When a Cabinet Minister tells people they should not be worried by what is happening on the financial markets, you know the Government is really scared. It should be.

Afiniti filed for bankruptcy in the US two months ago as the firm struggled under a mountain of debt.

The idea of both Reeves and the governor of the Bank of England being on the other side of the world, during the current financial turmoil, is not the best optic.

RC Fornax wants to raise at least £5 million, valuing the business at £25 million, sources say.

A report said fund managers are more willing to speak out against environmental, social and governance and diversity, equality and inclusion issues.

PATRICK TOOHER explains what a bond is and why politicians fear the debt markets more than

A bond is an IOU or loan made by an investor to a government or company that must be repaid in full at a set date in the future. The investor also receives a fixed rate of interest on the loan over its term. The Government issues bonds, also known as gilts, to fill the gap between public spending and tax receipts. Bonds are traded between investors, who take a view on how creditworthy the Government is. The riskier they see the bet, the higher the price - or yield - they demand.

Victoria Wood put me on the map, says actor DUNCAN PRESTON

The 78-year-old featured in most of Victoria's TV shows including Dinnerladies and Acorn Antiques. He also starred in the sitcom Surgical Spirit and has had roles in EastEnders, Emmerdale and Coronation Street. Last seen in the Christmas Special of All Creatures Great And Small, Duncan will next appear in The Good Ship Murder, also on Channel 5. Divorced from actress Susan Penhaligon, Bradford-born Duncan now lives alone near Ilkley.

I'm vegan, so I contacted John Lewis customer services to ask if I could swap it for a vegan item of similar value - but was surprised that it said no.

I invested in whisky casks. Then it was suggested I invest £30,000 in Linc Drinks. I did, but then I heard about your article regards the company.

How much would YOU spend to fund your family ancestry search?

Revelations about black sheep in the family revealed over Christmas, yuletide gifts of DNA kits and a desire to find a fresh hobby in 2025 are key reasons why we are tempted to invest time and money on such research. But experts point out that you can discover your roots without having to sign up to costly subscriptions and much family sleuthing can be done for free.

Gilt yields show the UK can't borrow for growth so let's offer savers a good deal and use

The government represents the UK and its people and some of those people are sitting on a lot of money. Cash savers and pension investors in retirement tend to be pretty cautious: they want good returns, but they also prize them being reliable and from a low-risk source. Perhaps the answer to unlocking the UK's growth conundrum is to offer that to them.

Rates had been expected to fall in 2025 due to expectations that the Bank of England will cut the base rate three or four times, but that has now been thrown into question.

About to retire? Here's a must do list before you stop work for good

Your major task at retirement is turning your pension funds into an income that can replace your salary, as this determines what you will have to live on in old age. Assuming you have done this or it is in hand, there are final jobs and some big lifestyle changes to consider in the final months before you leave your job. Here's what you need to know.

Couples can divorce within six months of applying, but financial settlements are dealt with in a separate process that can take much longer. Here's what you need to know...

One can understand why the Chancellor was happy to let her chief secretary to the Treasury take the heat for the crash in confidence in gilt-edged stock and the pound.

UK borrowing costs soar to 27-year high: What are gilts and how do they work?

The cost of borrowing soared to its highest level for more than a quarter of a century this week as gilt yields continue to rise. It has sparked fears it could push up the cost of borrowing for households and businesses too. So what are gilts, why are they rising and what does it mean for households and the economy?

Estate agents exclude leasehold details and other vital information from online property

Estate agents continue to exclude critical property information on their online property listings, despite being legally required to do so. Many property adverts are not compliant with current legislation, according to research by the HomeOwners Alliance, which means people are left without crucial information in the early stages of buying a home. The HomeOwners Alliance research reviewed adverts across Rightmove, Zoopla and OntheMarket in London and Manchester and found that many agents are still failing to comply more than one year on.

Interest rates could be 2.5% by late 2027, economist predicts: What would that mean for

Oxford Economics is predicting that interest rates will fall to 2.5% by late 2027, a much bigger drop than the 3.75% market consensus. Andrew Goodwin, chief UK economist at Oxford Economics says the difference is partly because financial markets are anticipating higher inflation than they are, but also partly because of demographic changes. If Oxford Economics' forecast proves to be right and rates do hit 2.5% by the end of 2027, what would happen to mortgage costs?

There is no doubt Rachel Reeves' announcement that from April 2027 unused pensions will be subject to inheritance tax is bad news - but is it as bad as people are saying?

Interest rates were only cut twice in 2024 with base rate falling from a high of 5.25 per cent to 4.75 per cent. Will the cuts be deeper next year? We get the experts views

The 10 jobs with biggest pay rises in 2024 revealed - is YOURS on the list?

Fabricators and welders were on the end of the highest pay increase, exclusive data from Hays reveals. They received a 9.5% increase on average in 2024. The average salary for these roles is £33,500 in 2024.

Heat pumps divide opinion. Homeowners either like them or loathe them - but even those who have embraced these heating devices say they are fraught with problems.

I've heard nothing from HMRC after telling them I don't need to file a tax return, and now I don't know what to do. Will I be fined £100?

Senior MP's profound concerns over £50bn Shein listing

Liam Byrne, chairman of the business select committee, wrote to the Financial Conduct Authority and London Stock Exchange to ask how they will scrutinise the firm as it plans one of Britain's biggest ever flotations. Shein is waiting for approval for its £50billion London listing but campaigners have complained about allegations of abuse in its supply chain.

The supermarket giant said its staff would receive a five per cent pay hike over the coming year, split into two separate increases to help 'navigate a challenging cost environment.'

The mid-cap index is vulnerable to the weakening pound and deepening concern about the UK's growth prospects and fiscal credibility.

Sales of gold coins were three times higher between October and December than in the same period of 2023, according to The Royal Mint.

Although its latest update does not include December, the chemist said early signs showed the festive trading period had been 'solid'.

Three share picks for 2025: From a Magnificent Seven star to a FTSE stalwart

Investment platform Hargreaves Lansdown has revealed its Five shares to watch for 2025 and in this video, Simon Lambert, of This is Money, talks to senior equity analyst Matt Britzman to find out why it chose some of the companies on that list. He explains why a US tech behemoth could deliver again this year and discusses two share picks closer to home that offer a UK growth and value opportunity.

Boaz Weinstein (pictured), founder of Saba Capital, is pushing for a huge shake-up that would mean that directors at the trusts replaced by him and his allies.

In a letter to investors, Smith (pictured) said he had sold his Fundsmith Equity fund's shares in Diageo after holding the stock for almost 15 years.

SUVs officially become Britain's favourite type of car for the first time on record

A third of new cars entering the road last year were 'Chelsea Tractors', snatching the mantle of most popular segment from superminis, which had topped sales charts for decades. SUVs accounted for 33% of all registrations in 2024, up from just 12% a decade earlier, according to Britain's auto trade body. We analyse the data and speak to experts about what's driving Britain's appetite for SUVs...

The Government has yet again reiterated that it will ban sales of new petrol and diesel cars from 2030 - but has also launched a consultation into the deadline date...

Beyond central London, the most affluent parts of the commuter zone are home to the highest concentration of super-luxe cars.

I dislike the idea of passing on an inheritance! STEPH MCGOVERN lifts the lid on her

The broadcaster says her nickname is 'spreadsheet Steph' and she loves to save cash by using her smart meter. However, she also splashes out on treating friends and family, paying for 20 pals to see Beyoncé/Pink at the Stadium of Light in Sunderland.

The auction room goes quiet in suspense as the auctioneer raises the gavel above the block with a theatrical flourish. 'Going first... going second... going for the third and final time... gone,' he roars.

I was accosted and forced to transfer £200 to my assailant's bank account via my online banking app. I reported the matter to the police and then my bank.

I took a pension lump sum: Should I pay off my £117k buy-to-let mortgage?

I purchased a buy-to-let in 2007 with a 25-year interest only mortgage, which now has just over seven years remaining. The mortgage balance is now £117,000. But I have recently retired and took a lump sum from my pension. Should I consider using some of the lump sum to pay off the property now?

Treasury Committee will ask questions including whether the £450k house price cap should be raised, and whether early withdrawal fees should be abolished.

You have weeks to file an online return and pay what you owe. There's a £100 fine if you file up to three months late. For late payments, you're charged 7.25% interest.

Chip launches best buy easy-access savings account as rivals cut rates

Savers have another top paying easy-access account to pick from after the savings and investing app, Chip, upped its rate in a surprise move today. Chip increased the rate on its Easy Access Saver from 4.72 to 4.85%. On a £10,000 deposit that could enable someone to earn as much £485 of interest over a 12 month period, albeit if the rate remains unchanged.

Can I refuse to let security staff search my bag if I set off the alarm leaving a shop?

I set off the alarm when I left a department store, although I hadn't bought anything. Security on the door insisted on searching my shopping bags. I was outraged. Could I have refused? Security personnel have limited powers compared to the police and generally can only enforce store policies, such as denying entry or asking you to leave if you refuse to comply with a search request.

Some people find crypto empowering - a way of making money they never dreamed possible. But there is darker side, as many Britons lured in by hopes of easy riches have learned the hard way.

State pension top-ups STILL missing after big rush in 2023 - as next deadline looms

Lynne Cole, pictured, paid more than £800 in early 2023, in the midst of the last big rush to take advantage of a special deal to buy top-ups. Nearly two years on, she had still got no boost to her state pension - until her husband left a comment on a Steve Webb column last month, saying: 'Possibly we'll both be dead before she gets it!' and This is Money stepped in to help. The current extended deadline to buy top-ups going back to 2006 looms again in April.

For many, early retirement means stopping full time work in your mid to late 50s - or around ten years before the age at which you can claim your state pension.

The Budget inheritance tax announcement is a potential disaster for pensions. It will mean less money going in and more early withdrawals.

Do you own one of the most scrapped cars of 2024? Number one is a hugely popular Ford

New data has revealed which models were most commonly crushed between January and December last year. Many are best sellers from the 00s reaching the end of their life. Scrap Car Comparison found the average age of a motor headed to the scrap heap was 17 years. Here's the top 10 most-binned models of 2024.

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
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