Money blog: HSBC 'sends ultimatum' to staff working from home (2025)

It's the show that everyone has been raving about, but with tickets starting at £55 each, going to see ABBA Voyage isn't cheap.

If it's still on your wish list this year, the summer might be the perfect time to see it.

Proving that ABBA's music isn't just for Generation X, the show in London is running a deal for people aged between 16 and 25.

The Young Persons Rate will offer tickets for £35 each throughout June and July.

The rate is expected to be rolled out for students aged 14 and over for select performances later this year, too.

Fans can book tickets at the special rate via AXS, or join the waiting list on the official ABBA Voyage website.

In order to use the ticket, you must provide a valid ID at the venue.

Santander is axing its 1% cashback offer on any grocery or travel costs from its Edge current account.

Customers have been able to claim the offer on any money spent on trains, buses, electric vehicle charging, petrol and diesel, or at supermarkets.

By depositing at least £500 a month into the account and paying a £3 monthly fee, customers can earn up to £10 a month in cashback on bills and £10 on some debit card spending.

What's changing?

From 9 September, Edge account holders will only be able to enjoy 1% cashback on select household bills when they pay by direct debit.

These include: Broadband, council tax, gas, electricity, water and phone bills.

The same change will also apply to the Santander Edge Up account, which comes with a £5 monthly fee but offers up to £30 cashback every month.

In an email to customers, the bank said the changes were being made due to an increase in the cost of offering cashback.

Is it worth switching?

Money Saving Expert has consistently listed the Edge account as one of the best accounts for cashback.

Following the changes, it has named Chase as the top current account for paying cashback, with customers able to earn as much as £15 a month on groceries, travel and fuel spending without paying an account fee or depositing a minimum amount.

There are several other accounts offering similar deals, so it's worth shopping around to see if there are any options that better suit your cashback needs.

Earlier today, we told you about a Which? investigation that found some people's travel insurance premiums rose by more than 1,000% when they declared their medical condition.

The consumer champion found customers paid around double for a single trip policy after declaring a medical condition.

After reading the piece, many of you got in touch to share your travel insurance woes. Some of you told us about increases to your policies due to your health condition...

I was diagnosed with stomach cancer eight years ago and am unable to get travel insurance. I get declined, not even given an extortionate quote.
Graham Farr

What can the industry do to protect people who declare medical problems? The investigation clearly shows people who through no fault of their own suffer from mental health issues! I had to declare a change to my health and mine quadrupled!
Graham

Some of you questioned if the insurance industry needs a shake-up...

Why are insurance companies allowed to discriminate and charge higher prices for pre-existing medical? Not like we chose to be injured or disabled. They make billions in profits every year, they should all be required to insure everything regardless?
Just_Andy

Insurance of all kinds is the biggest scam on the planet. We give millions to these companies and they come up with pathetic excuses not to pay a claim. Disgusting.
Paul

Leave your thoughts in the comments box above.

Paying to park your car can be frustrating, especially if you realise you have the incorrect app downloaded.

But the days of working out what app you need for different car parks could be over thanks to a new UK-wide service.

The National Parking Platform (NPP) will allow drivers to pay for parking in all participating car parks in one place.

Future of roads minister Lilian Greenwood said car parks would be connected to a shared platform, allowing drivers to pay using any approved app.

It will be developed by the British Parking Association and a group of parking app providers including RingGo, JustPark and PayByPhone.

The platform has already been rolled out in 10 local authorities, but is expected to launch across the country "as soon as possible".

The NPP has been in development at the Department of Transport for several years and the government will maintain oversight of it as it expands.

The energy price cap is set to fall by around 7% from July, analysts say - ahead of the official Ofgem announcement at 7am tomorrow.

The respected analysts at Cornwall Insight see the average annual bill falling £129 to £1,720 over the summer.

The consultancy is also predicting further declines from October and again in January - but it's early days.

The anticipated easing trend is all down to falling wholesale natural gas prices, aided by the early mild spring across much of Europe.

Also contributing to the fall in wholesale costs is Trump's trade war, which has dented industrial demand.

These factors have all taken pressure off depleted stockpiles.

It's good news for households but also the Bank of England.

Energy costs have been the main driver of inflation in recent years and reductions to bills may take some pressure off that headline number in the months ahead as the Bank's rate-setting committee juggles the timing of interest rate cuts.

New figures from HMRC suggest some first-time buyers had more than £50,000 to put towards the cost of a property after saving into Lifetime ISAs.

Lifetime ISAs, or LISAs, were launched to help people get on the property ladder or save for retirement.

People can save up to £4,000 a year into the account up until the age of 50, with the government adding a 25% bonus to the savings, meaning you can earn as much as £1,000 a year.

A freedom of information request made to HMRC by money app Plum found that the top 25 Lisa withdrawals made to buy a home averaged £51,000 in 2022-23.

If someone is using a LISA for their first home, the property must cost £450,000 or less.

More than 42,800 Lisa withdrawals to buy a home were for at least £10,000, and among them more than 11,200 pots contained £20,000 or more.

HSBC has reportedly told staff that they face cuts to their pay packages if they fail to come into the office at least three days a week.

The bank told their UK employees that they needed to have 60% in-office attendance and if that target was consistently missed, it could lead to their bonuses being affected.

In a memo, it said it would be monitoring attendance more closely, with The Times reporting managers will be given monthly data about employees who have failed to come in.

The bank is the latest to clamp down on homeworking after Lloyds enforced a similar policy for senior bosses earlier this year.

Money has contacted HSBC for comment.

A consumer champion has named its best brands of the year.

Every 12 months Which? picks out the businesses that have offered exceptional products and services while providing top customer care.

There are 13 categories - here are the winners in each one:

Retailer of the year

Winner: John Lewis

Why? It is loved by shoppers buying a wide range of products, offering great value for money and "first class" customer service.

Travel brand of the year

Winner: Trailfinders

Why? It topped just about every category it is rated in, with judges calling it a "brilliant option" for planning a holiday.

Trusted trader of the year

Winner: LCM Flat Roofing

Why? The family-run business in Gloucestershire had reviews frequently mentioning how staff go above and beyond to help customers.

Utilities brand of the year

Winner: Zen Internet

Why? This beat out Octopus Energy and Talkmobile for the award, with it scoring top in Which?'s customer score rankings.

Baby and child brand of the year

Winner: Nuna

Why? Judges praised the brand for the launch of its Pipa Urbn infant car carrier car seat and its "top performance" across a range of products.

Banking brand of the year

Winner: Nationwide

Why? The building society won for its "superb performance" across current accounts, savings, mortgages and credit cards and for being the "only current account provider" willing to maintain its branch network.

Best value appliance brand of the year

Winner: Beko

Why? This was down to its track record of providing products at "great value for money" without compromising on quality.

Customer service brand of the year

Winner: Zest Car Rental

Why? Customers said it consistently goes out of its way to resolve their problems and Which? found it has very clear pricing.

Electric car brand of the year

Winner: BMW

Why? It impressed the judges with its passion for innovation and performance, with its cars consistently scoring high in Which?'s lab tests.

Health and personal care brand of the year

Winner: Braun

Why? It produced the best product in Which?'s testing and offered "impressive performance and value for money".

Home entertainment brand of the year

Winner: Samsung

Why? Half of its soundbars were named in Which?'s Best Buys products list, with judges praising it as a "remarkably consistent brand".

Insurance brand of the year

Winner: NFU Mutual

Why? Customers praised its real value for money, particularly for car and home insurance.

Renewables installer brand of the year

Winner: Kimbletech LTD

Why? Which? praised its "outstanding" approach to customer education, sustainability and energy efficiency.

By James Sillars, business and economics reporter

There are growing signs global investors are picking a fight with Donald Trump again.

The US bond market has traditionally been seen as a low-risk bet but a growing US debt pile has sparked worries about sustainability.

Yields, the premium demanded by investors to hold US government bonds, have shot up under the Trump presidency.

His plans for tax cuts to help bolster US growth have fallen flat, with yields on some long-dated bonds hitting levels last seen in the COVID crisis year of 2020.

The bond market movements this week are a big signal that a change of course is being sought, with the dollar facing fresh pain too on the back of the recent trade war/recession bruising.

Some of that cash has gone to Bitcoin instead.

The world's biggest cryptocurrency has set fresh highs above $111,000 - read more on that in our 9.11am post.

The FTSE 100 has started the day 0.4% in the red - driven down by some poorly received financial results.

BT shares were down almost 5% after the telecoms firm revealed annual results showing a 2% decline in revenues but profit rise of 1%.

Another company on the slide was easyJet.

Its latest progress update showed strong demand for flights and holidays over the core summer season but there was no lift to its earnings guidance. Its shares were down 3%.

Tax rises could be on the cards after UK government borrowing rose more than expected to £20.2bn last month, analysts have said.

It was the fourth highest April borrowing total on record, Office for National Statistics figures show.

The forecast had been for £17.6bn.

Why was the borrowing needed?

There was jump in central government departmental spending on goods and services, which rose by £4.2bn year-on-year due to pay increases and cost inflation.

What could consequences be?

Ruth Gregory, deputy chief UK economist at Capital Economics, said: "With the PM announcing a partial U-turn on the cut to winter fuel payments, the dilemma faced by the chancellor over how to deal with increased spending pressures in an environment of low economic growth and high interest rates hasn't gone away.

"With the markets seemingly uneasy about more public borrowing, further tax rises are starting to feel inevitable."