Welcome to the Money blog! This is your source for all things personal finance and consumer news and tips. Today, we will be focusing on the Bank of England’s decision to reduce the interest rate from 5.25% to 5%. We invite you to share your thoughts in the comments section below.
According to financial analyst Ed Conway, this is a critical turning point for the economy. In addition, we will also be discussing potential tax increases that Labour may introduce in the upcoming autumn budget. And if you’re in need of a mortgage broker, we have some information that may be of interest to you.
In other consumer news, US fast food chain Taco Bell has announced plans to expand the use of artificial intelligence for taking orders at their drive-thrus. This voice recognition technology has been in development for over two years and is already in use at more than 100 locations in 13 states.
Meanwhile, broadband provider TalkTalk is facing financial difficulties and has been moved to a “very high level” of credit risk by ratings agency Fitch. The company has two repayment deadlines approaching and owes £1bn to lenders. Founder Sir Charles Dunstone is reportedly working on a £200m lifeline to prevent a potential collapse.
And in response to concerns raised by the Competition and Markets Authority (CMA), a mattress company has agreed to change its sales practices. Simba Sleep has signed formal commitments to ensure that their discount claims are genuine and that countdown clocks on their website are not misleading to consumers.
Thank you for joining us on the Money blog. Remember to enable javascript in order to use the comment section and feel free to ask any questions or leave a comment. Now, let’s dive into today’s news.
