5 Things You Need To Know, Today, on Wednesday 31st May 2023
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5 Things You Need To Know, Today, on Wednesday 31st May 2023
1. Nearly 10% of UK mortgage deals have been taken off the market since last week amid concerns about how high interest rates will go, figures show.
Financial data firm Moneyfacts said nearly 800 residential and buy-to-let deals had been pulled as lenders were reassessing their offers. Meanwhile, average rates on two- and five-year fixed deals have also risen.
2. Households with prepayment meters are being urged to make sure they have cashed in all their energy vouchers before the end of June.
The government says that while more than four in five vouchers have been used, £130m is still available. The voucher scheme provides support of £400 per household.
3. Rail passengers are set to suffer fresh travel disruption over the next few days due to more strikes in long-running disputes over pay, jobs and conditions.
Members of the drivers' union Aslef will walk out on Wednesday and 3 June, while the Rail, Maritime and Transport union (RMT) has called a strike on 2 June.
4. Sentiment among British businesses fell for the first time in three months in May as firms were less optimistic about the economy and their trading prospects despite some signs of resilience in the economy.
The Lloyds Bank Business Barometer fell to 28% in May from 33% in April, its first decline since February, but in line with the survey's long-term average.
5. The elite club of US companies worth more than $1 trillion got a new member on Tuesday - at least for few hours.
Chip maker Nvidia briefly joined the ranks, as its share price shot up more than 5% before retreating. Shares had already jumped more than 25% last week after the company forecast "surging demand" due to advances in artificial intelligence (AI).
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