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Rolling coverage of the latest economic and financial newsThe average shelf-life of a UK mortgage has shrivelled, even before the surge in energy price hammered hopes for interest rate cuts.Data provider Moneyfacts has calculated that the average shelf-life of a mortgage fell to 14 days, on the first of March, the lowest since August 2023.“Borrowers looking to refinance would be wise to act quickly to secure a new deal, as the significant push in mortgage activity during February has led to a significant fall in the average shelf-life of a mortgage to just 14 days.This is a complete contrast to the notable seasonal slowdown in activity during January. However, since this data was captured, there has been a notable shift in swap rates, amid the unrest seen in the Middle East. It is worth noting that the average shelf-life of a mortgage has not been this low (14 days) for over two years, last lower for August 2023, at 13 days. This was just one month after a record low of 12 days recorded for July 2023. C...

Latest Android superphone packs great cameras, fast chips, long battery, a stylus and first-of-its-kind privacy displaySamsung's latest Ultra superphone promises to keep shoulder surfers out of your business with a first-of-its-kind privacy display built into its huge 6.9in screen.The Galaxy S26 Ultra is Samsung's top-of-the-line phone costing £1,279 (€1,449/$1,299/A$2,199) and is one of the most feature-packed handsets you can get, with four cameras on the back, an integrated stylus and AI assistance in every corner. Continue reading......

Exclusive: revelation comes as company faces mounting scrutiny over use of AI to provide health tipsGoogle has dropped a new artificial intelligence search feature that gave users crowdsourced health advice from amateurs around the world.The company had said its launch of “What People Suggest”, which provided tips from strangers, showed “the potential of AI to transform health outcomes across the globe”. Continue reading......

Another weekend of violence compounded global market concerns over war in the Middle East, following US strikes on the vital oil hubOil prices have climbed again amid mounting supply fears after the US struck Iran's vital Kharg Island oil hub and Donald Trump demanded allies help reopen the strait of Hormuz.Brent crude, the international benchmark, rose 1.8% to $104.98 per barrel during early trading on Monday. Another weekend of violence across the Middle East compounded concerns over the conflict, and its ramifications for global energy markets. Continue reading......

US supreme court has 'ransacked' the country, president argues, in wake of its ruling against his trade agendaDonald Trump has claimed he has “the absolute right” to impose new tariffs after the US supreme court ruled many of the import duties he imposed last year were illegal.The president attacked the court in a late night broadside on Sunday, accusing it of having “unnecessarily RANSACKED” the US – and failing to show him sufficient loyalty. Continue reading......

Prime minister expected to set out tens of millions of pounds in help for heating oil users as conflict with Iran drives up costsKeir Starmer will on Monday announce tens of millions of pounds' worth of support for Britons hit by a spike in energy prices as a result of the Iran war.The prime minister will lay out the plans during a press conference in Downing Street on Monday, during which he will also take aim at some suppliers of heating oil for price gouging. Continue reading......

Borrowers coming off fixed deals hit hard as Savills says big spike in interest payments made up half the overall rise UK households spent a record £226bn to keep a roof over their heads last year, figures showed on Monday, with mortgage borrowers finishing fixed-rate deals particularly hard hit by rising payments.Overall housing costs have gone up by £66bn over the past five years, a rise of 41%, the property group Savills said. Continue reading......

National Audit Office highlights benefits of state rescue for jobs and orders but warns of continuing high cost The cost of keeping the UK's last remaining blast furnaces going at British Steel's Scunthorpe plant could exceed £1.5bn by 2028 if it continues at its current rate, according to the government's spending watchdog.Ministers took the plant into public control in April last year, after its Chinese owner – industrial firm Jingye – threatened to shut down the loss-making site. Continue reading......

Could we be at the beginning of a change never before seen by humans – allowing us to escape the drudgery of work?The other day I pulled into the parking lot of a client's offices and in the spot next to me was a woman sitting in her car blasting music. She caught me looking and rolled down her window and said, “I'll be inside in a minute … Just enjoying my last few moments of freedom!”Is this way we want to live? No, it's not. Continue reading......

It has been years since the four-day work week was floated as a solution to everything from traffic congestion to burnout. So why aren't we all doing it now?Get our weekend culture and lifestyle emailDuring the global soul-searching that followed the rupture of Covid-19 lockdowns, one idea for how we might live better suddenly seemed plausible: the four-day work week.The model is simple but somewhat counterintuitive. Employees work fewer hours for the same salary while getting the same amount of (or even more) work done. Advocates say this is made possible by reducing meeting times, streamlining workflows and prioritising work more efficiently.Sign up for a weekly email featuring our best reads Continue reading......

The brand has enlisted JW Anderson to help brew a 17-piece range of luxury fashionware, from 'beer towel' shorts to branded trousers and topsYou too can look like a pub carpet – and for the bargain price of £1,295. Such sartorial elegance – perhaps an option for anyone stepping out to celebrate St Patrick's Day this week – is the aesthetic love child of a partnership between Guinness and the luxury clothing brand JW Anderson.Launched earlier this month, the tie-up allows fashionistas to get their hands on a range of Guinness-wear, exploiting the ongoing metamorphosis of the “black stuff” from unfashionable pub staple to social media status symbol. Continue reading......

The country's 900 billionaires have far too much influence over our government and economy. Here's how we can reduce the power of the ultra-richNot a day goes by without some news about billionaires throwing their weight around to bend the system in their favor or about politicians giving them tax cuts, government contracts or pardons. In today's new Gilded Age, the 900-plus billionaires in the US have far too much influence over our elections, our economy, our government policies and our news media, and it's urgent for Americans to create a movement to curb their power in order to preserve what's left of our democracy and assure we have an economy with some basic fairness.It's deeply troubling that billionaires have far more power in shaping our nation's politics and policies than do average Americans, whether they're auto workers, teachers, nurses, carpenters or supermarket cashiers. What's more, it's deeply disturbing that so many billionaires support the most authoritarian president in US hi...

Humiliating failure now looms, as symbolically damaging to US global standing and national self-esteem as Afghanistan or IraqDonald Trump menaces the world. He's global public enemy number one. He's steadily losing the illegal war with Iran he started but cannot stop. His violence-addicted Israeli sidekick, Benjamin Netanyahu, is terrorising Lebanon. And ordinary people everywhere, their security threatened, face a huge economic bill for his reckless folly.Add Trump's war-making to his daily debasing of democracy, appeasing of Russia, punitive tariffs, climate crisis denial and flouting of international law, and it's clear this White House travesty has gone on long enough. Americans must put their house in order and act decisively to restrain someone who endangers us all. Continue reading......

Exclusive: Robin Birley closes in on Sunshine State venue as wealthy Britons flock to area around Donald TrumpA London private members' club owner is closing in on a deal for a venue in Palm Beach, in the hopes of creating a rival to Trump's Mar-a-Lago and to take advantage of an influx of wealthy British people to the Florida region.Robin Birley is understood to be close to securing a property for his latest club, part financed by the billionaire Reuben brothers, who in 2024 were named the third-richest family in the UK by the Sunday Times Rich List. Continue reading......

Timely end of two-child limit plus a healthy uptick in universal credit signals 'lifechanging' boost to Britons most exposed to 'Trumpflation'It doesn't involve warships, drones or strategic oil stocks, but one of Labour's most potent weapons for containing the economic aftershocks from the Iran war for the UK is about to be unleashed: the scrapping of the two-child limit.If the cost of essential goods spikes as a result of high oil prices it is the poorest households who will be the most exposed. Continue reading......

Mohammed Ahmed Sayed Mohammed is among those redeploying his skills for a local recycling company that is cleaning up the NileAt 6am, Mohammed Ahmed Sayed Mohammed steers his boat from al-Qarsaya island through Cairo's Nile waters towards the capital's riverside clubs. Fifteen years ago, he searched for fish. Now he hunts plastic bottles.“The fish fled from the plastic chokehold,” said Sayed, who has lived on the Giza island since arriving from Assiut, further south on the Nile, as a 14-year-old fishing apprentice. He never returned to his village, marrying locally and raising three children who now live alongside him with their 12 grandchildren on the island housing 200 families. Continue reading......

If costs stay high for the next three months, US owner Peter Huntsman says he will close the site on TeessideThe American owner of one of Britain's last major chemicals plants has said he will close the site if energy prices remain at their current levels for the next three months.Peter Huntsman, whose family built Huntsman Corporation into a global chemicals empire, said the recent jump in gas prices fuelled by the Iran conflict was “another nail in the coffin” for European heavy industry. Continue reading......

Tiny eateries such as Michelin-starred Gwen in Wales, which holds just eight customers, are spreading across UKIt started with the portion sizes, as all-you-can-eat buffets were reduced to bite-size small plates. Then the menus started to decrease, with pages of dishes shrinking to an A5 sheet of paper.Now restaurants are undergoing another round of downsizing. Micro-restaurants, which usually seat fewer than 20 people, are gradually spreading across the UK. Continue reading......

Oil could pass 2008 record of $147.50 a barrel as damage and closures risk compounding supply shock caused by Iran warThe world's largest offshore oilfield stretches more than 40 miles from Saudi Arabia's eastern province into the depths of the Persian Gulf. For almost 70 years the Safaniya field has produced millions of barrels of Arabian heavy crude to be sold by the biggest oil-producing country. This week, the field was shut.The war in Iran has effectively blocked the Gulf states from exporting a fifth of the world's oil supply to the international buyers through the strait of Hormuz. Iran's attacks on tankers trapped in the vital trade route have erased an estimated 15m barrels of oil from the global market. Continue reading......

Criminals exploiting Middle East crisis by targeting customers seeking help or refunds from affected carriersYour flight has been delayed as a result of the Middle East crisis and you want to find out what's happening, so you go online for an answer. You find a social media account run by the airline you are booked with and post a question, and get a reply offering help.You're asked to send a direct message with details, which seems reasonable. A conversation starts and you are told to give your phone number as you may be due compensation. This is where it all starts going wrong: instead of being given money, you have it taken. Although it looked official, the account that replied was a scam. Continue reading......