Money blog: 'Bleak' new security measure seen in Tesco store (2024)

Top news
  • Energy price cap falls today - here's what you need to know
  • Submit an energy question above for Which? or Cornwall Insight ahead of 3pm Q&A
  • 'Bleak' new security measure seen in Tesco
  • New Wotsits and Monster Munch flavours as part of lower salt push - but that's not all you're getting less of
Essential reads
  • Money Problem: 'I hired a car via EasyJet but they are directing my complaint to someone else - what can I do?'
  • How to split housework fairly with your partner
  • Women in Business: How accident in cafe and £400 turned into a genius business idea that's about to go global
  • How to stop your car from being stolen - or even 'cannibalised'
  • Best of the Money blog - an archive

Ask a question or make a comment


Submit a question for energy experts

As the energy price cap falls today, with a warning it is likely to rise again this winter, we thought it would be a good time to ask industry experts to answer your questions.

Whether it be a consumer query about how to save money, or a broader query about why prices are set to rise again or the UK's supply, we've got you covered.

Experts from consumer group Which? and industry analysts Cornwall Insights will be here from 3pm - so submit your question above.


Euro strengthens after far-right victory in first round of French elections

By Sarah Taaffe-Maguire, business reporter

As news of a far-right victory in French elections emerged the euro actually strengthened.

One pound buys €1.177, less than during the majority of the past month because the National Rally party did not do as well as had been expected with 33% of the vote share in round one of voting.

Better news for people travelling to the US or importing dollar-price goods: £1 = $1.2677, the highest level since last Wednesday.

The oil price is at a high not seen since the end of April - $85.53 for a barrel of Brent crude oil, the benchmark price.

On the London Stock Exchange, the 350 most valuable companies have got more valuable.

The FTSE (Financial Times Stock Exchange) 100 index rose 0.39% on Monday morning led by Smurfit Kappa, the packaging giant eyeing a US stock exchange listing.

The FTSE 250 was up 0.52% led by care home owner Target Healthcare REIT.


Olive oil dressed in security 'fishnets' in latest supermarket anti-theft measure

Olive oil has become the latest staple to undergo "bleak" anti-theft measures.

The cooking product was spotted encased in netting and tagged with an alarm in an unspecified Tesco store, leading one customer to ask: "What has the world come to?"

It is just the latest product to be subject to supermarket security measures that have surprised customers, after an out-of-hours smoke machine was introduced in another Tesco store last month.

Neither security features are part of a universal policy and have been implemented only in individual stores, Sky News understands.

"All 'anti-shoplifting' measures are theatre," said one shopper on X, beneath a photo of the olive oil.

"This is so bleak," said another, while a third joked the oil "has to wear fishnets now".

We revealed earlier this year that there had been a 110.5% increase in the price of olive oil since January 2021.

High temperatures and droughts in Spain, the world's leading producer and exporter, have dented the harvest - a problem only worsened by global inflationary pressures.

Separately, a bacterial disease called Xylella Fastidiosa has attacked and killed century-old olive trees, severely diminishing yields in southern Europe.

And heightened prices have led organised criminal gangs to steal the "liquid gold".

Read more on what's behind exploding olive oil prices here...


Sunday overtakes Friday as second-biggest day for food-to-go

More people are buying food to go on Sundays than Fridays for the first time, new data suggests.

This makes it the second busiest day for food-to-go (things like bakeries, fast food, convenience store sandwiches) after Saturday, according to a new report by Lumina Intelligence, cited by The Grocer.

During the first six months of this year, 19% of food-to-go occasions took place on Saturday, followed by 16.9% on Sunday and 15.4% on Friday.

In 2022, the last time the research was carried out, Friday was more popular than Sunday among food-to-go customers.

Lumina said the change is likely linked to more people working from home on Mondays and therefore feeling more able to spend their Sundays out.

A rise in drink-to-go options could also be behind the behaviour change, it said.

Some 1,000 new food-to-go sites are predicted to open every year between 2024 and 2027.


New Wotsits and Monster Munch flavours as part of lower salt push - but that's not all you're getting less of

Fans of Wotsits and Monster Munch have some new flavours to enjoy from today - as part of a new lower-salt range.

Wotsits Cheese Toastie, Wotsits Crispy Bacon and Monster Munch BBQ Sauce are part of the Yummy With range, which comprises snacks made with chickpea.

They're said to contain 25% less salt than the average extruded product and come in at under 100 calories.

But as well as less salt, you're also getting less crisp...

The Wotsits have a similar retail price to a regular multipack - but you get less crisp for your money as each bag has 12g, down from 16.5g in regular multipack packets.

It’s the same story with the new Monster Munch - 16g compared with 20g packets in regular multipacks.

Promoting the new range, Walkers said: "The success of Walkers' existing product lines, along with the trust and recognition associated with the brand, provides the perfect foundation to introduce the Yummy With range.

"We know consumers are on the hunt for smarter snacking options, but they aren't willing to compromise on taste.

"Over several years, we've meticulously crafted the range to perfect the formulation, aligning with the beloved light and airy texture that consumers adore."

Walkers wants to make 50% of its sales from snacks that are non-HFSS (high in fat, salt and sugar) or under 100 calories by 2025.


'I hired a car via EasyJet but they are directing my complaint to someone else - what can I do?'

Every Monday we get an expert to answer your money problems or consumer disputes. Find out how to submit yours at the bottom of this post. Today's question is...

I hired a car through the EasyJet booking system and want to make a complaint about the car hire service. EasyJet are not interested and are trying to direct me to a third party called Car Trawler. Who is responsible for responding and acting upon this complaint?

Julie Fay

In a world of online shopping and search engines, these kind of questions are common.

Scott Dixon, from The Complaints Resolver, says that in this case, neither EasyJet nor Car Trawler are responsible - it's the actual car hire company.

"Your contract is always with whoever you entered into the contract with and paid for the car hire," he says.

"EasyJet uses Car Trawler as a search tool (like Google) to find the best prices as a comparison site for you to choose the vehicle that suits your needs and budget."

Your rights

So, you need to go to source - and you have protection via the Consumer Rights Act 2015, Scott says.

  • S49states that every contract to supply a service is to be treated as including a term that the trader must perform the service with reasonable care and skill.
  • S62 has a requirement for contract terms and notices to be fair. An unfair term of a consumer contract is not binding on the consumer. Any contract terms which unfairly tilt the balance in favour of the trader against the consumer is void.
  • S68has a requirement for transparency. Key terms of a contract must be bold, fair, transparent and balanced - they cannot be buried in the small print of T&Cs.

Scott says you should also check if the car hire company is a member of the British Vehicle Rental Leasing Association (BVRLA). You can check here.In Europe, it would be the European Car Rental Conciliation Service (ECRCS).

"This gives you additional rights and another avenue to seek redress," says Scott.

What can you do?

With car hire, you need to start acting before you reach the point of dispute.

"Evidence is crucial on car hire complaints so always take photos and videos before and after - the onus is on you to inspect the hire car thoroughly before you set off and return it," says Scott.

"Check the vehicle report. Any existing damage ought to be noted on it."

With car hire, you should always check contracts for T&Cs - and Scott says: "Cheapest is not always best - you get what you pay for. Always stick with the mainstream car hire providers."

If a complaint does arise, always start by putting it in writing and see if you can get a resolution without escalating.

If that doesn't work?

Scott advises paying at least a deposit by credit card, as it gives you additional free protection and joint liability under S75 Consumer Credit Act 1974 for purchases over £100.

Contact your credit card provider and say you want to raise a S75 dispute and claim for a hire car.

"Say that the supplier is in 'breach of contract' under the Consumer Rights Act 2015 and has supplied a defective/faulty car. You have exhausted all options with the retailer and cannot resolve your dispute.

"Bear in mind that the credit card provider knows nothing about your complaint, so make it easy for them by providing as much evidence as possible to prove your case."

If you reach a stalemate with the credit card provider, Scott advises asking them for a deadlock letter setting out their final position so you can submit a formal complaint to the Financial Ombudsman Service (FOS).

Last resort

If all else fails, you could take your case to the small claims court if it is England or Wales, or followSimple Procedure in Scotland. Click here to find out your route in Northern Ireland.

Scott advises sending screenshots of court papers to the company involved, so the car hire company, demanding a refund within seven days. This may prompt action that means you don't have to follow through on the court claim.

This featureis not intended as financial advice - the aim is to give an overview of the things you should think about.Submit your dilemma or consumer dispute via:

  • The form above - you need to leave a phone number or email address so we can contact you for further details
  • Email with the subject line "Money blog"
  • WhatsApp ushere


Energy price cap falls today - here's what you need to know

Britons who pay for gas and electricity by direct debit will see their typical annual bill fall 7% to £1,568 until October.

This is down £122 from the previous quarter - but households have been warned to expect another uptick in the autumn.

What is the energy price cap?

The cap is controlled by energy regulator Ofgem and aims to prevent households on variable tariffs being ripped off.

It doesn't represent a maximum bill. Instead it creates an average bill by limiting how much you pay per unit of gas and electricity, as well as setting a maximum daily standing charge (which all households must pay to stay connected to the grid).

Between 1 July and 30 September, gas prices will be capped at the reduced level of 5.48p per kilowatt hour (kWh), and electricity at 22.36p per kWh.

Standing chargesare staying the same - typically 60p a day for electricity and 31p a day for gas (though they vary by region).

These fixed daily charges limit the impact of using less energy to try to save money - and, after campaigning from the likes of Martin Lewis, Ofgem has conducted a consultation on how standing charges work.

This is how the price cap has changed over the last few years (remember, it was effectively overridden by the government's price guarantee for a time at its peak)...

What about prepayment customers and those who don't pay by direct debit?

If you pay by cash or cheque every three months, you'll see a typical drop of £129 to £1,668.

People with prepayment meters will pay the lowest amount, with a typical bill of £1,522 - this is a turnaround from previously when they've paid the same or more.

The energy price cap covers England, Wales and Scotland. Northern Ireland has its own energy market and prices are also falling there.

An extra charge

Separately to all of the above, Ofgem is adding £28 to everyone's bill over the year.

This will help cover the £3.1bn cost of debt customers owe to suppliers.

What's happening this winter?

Market specialist Cornwall Insight have forecast a 10% rise from October, taking the annual bill for a typical household back up to £1,763.

This is slightly lower than its previous forecast - but still represents bad news for Britons who may have thought energy bills were on a linear path down following two years of sky-high prices.

We'll have experts from Cornwall Insights and consumer group Which? answering your energy-related questions here in the Money blog this afternoon - so whether it's about why bills could rise again or if now is a good time to switch, submit your query above.


Welcome back to the Money blog

We're back for another week of consumer news, personal finance tipsand all the latest on the economy.

This is how the week in the Money blog is shaping up...

Monday: This week's Money Problemfocuses on a complaint with a car hired via an online booking site.

Tuesday: We're continuing our eight-partWomen in Businessfeature - interviewing women who are bossing their industry. And this week'sBasically...explains everything you need to know about income tax.

Wednesday: This week's Cheap Eats is with one of the best chefs in the UK - Great British Menu legend and two-Michelin starred Aktar Islam.

Thursday: Savings Championfounder Anna Bowes will be back with her weekly insight into the savings market.

Friday: We'll have everything you need to know about the mortgage market this week with the guys from Moneyfacts.

Running every weekday, Money features a morning markets round-up from theSky News business teamand regular updates and analysis from our business, City and economic correspondents, editors and presenters -Ed Conway,Mark Kleinman,Ian King,Paul KelsoandAdele Robinson.

You'll also be able to streamBusiness Live with Ian King onweekdays at 11.30am and 4.30pm. check back from 8am, and through the day, each weekday.

The Money team is Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young, Ollie Cooper and Mark Wyatt, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.


Winter energy bills projected to rise for millions of households

Winter energy bills are projected to rise significantly due to an uptick in the wholesale market, according to a closely watched forecast.

Market specialist Cornwall Insight released an updated winter forecast ahead of the latest price cap change kicking in on Monday.

Britons who pay by direct debit will see their typical annual bill for gas and electricity go down 7%, or £122, to £1,568 this week until 1 October.

However, a 10% rise is then expected, taking the annual bill for a typical household back up to £1,763, Cornwall predicts.

This is actually slightly lower than its previous forecast - but still represents bad news for Britons who may have thought energy bills were on a linear path down following two years of sky-high prices.

"The drop in forecasts for October are positive, but we need to keep this in perspective," the Cornwall report says.

"We are still facing an average 10% increase in bills from October, and as winter approaches this will put a strain on many household finances."

We'll have experts from Cornwall Insights and consumer group Which? answering your energy-related questions here in the Money blog on Monday afternoon - so whether it's about why bills could rise again or if now is a good time to switch, submit your query above.


How to split housework fairly - and the things you shouldn't say

By Jess Sharp, Money team

Splitting up household jobs, whether that be cleaning, washing or life admin, is an issue that affects a lot of couples.

Starling Bank found women do a total of 36 hours of household tasks and admin per week - equivalent to a full-time job.

This is nine hours more than men - and yet men believe they do the majority in their household. The average man estimates they do 52% of work overall.

It's the discrepancy between perception and reality (and, of course, this can work both ways) that leads to arguments.

Couples who don't divide the housework equally have roughly five arguments about housework each month - rising to eight for couples who rely on just one person for the work.

We spoke to relationship expert Hayley Quinn about the best ways to split household work - and how to deal with arguments should they arise with your partner.

She explained that it's necessary to be "transparent" when deciding how to split the workload - but also to be flexible in order to find a solution that suits all involved.

While a 50/50 split might be your idea of perfection, Hayley said it was "almost inevitable that one partner may take on slightly more of the load" at different periods of time.

"Striving for perfect 50/50 fairness at all times is a really nice ideal, but it just may not be that practical for modern life," she said.

She said some jobs may be more visible than others, like cleaning, sorting out the washing, and taking the bins out.

Other jobs can take up just as much time and resource, but will fly under the radar. She gave the examples or sorting out travel insurance or changing over internet provider.

How should you approach a conversation with your partner about splitting the work?

To start off, Hayley said you should enter the conversation with a positive mindset - think how you are both contributing to the relationship in different ways.

"When you're having these conversations, it's not that many people are sitting around feeling like they're not contributing," Hayley said.

"In fact, I think if there's a discrepancy in how people contribute, it's just due to a lack of awareness as to what the other partner does, and some chores are just more obviously visible than others."

Try to avoid starting the chat with the perspective that you are working a lot harder than your partner and they're not pulling their weight.

"That way, you start from a place of we're all on the same team," she said.

"When you're doing that as well, it's really important not to make statements which assume what the other partner is thinking, feeling, or contributing.

"So, for instance, saying something like 'I'm always the one that's picking the kids up from school and you never do anything', becomes easily very accusational, and this is when arguments start.

"Instead, most partners will be much more receptive if you simply ask for more help and assistance."

When asking for help, Hayley said it's important to ask in a way that's verbal and clear - don't assume your partner is going to intuitively know what share of household chores to take on if you just complain.

"In a nice way, explicitly ask for what you want. It could be something like saying, 'Look, I know that we're both working a long week, but I feel like there's so much to do. It would be really helpful if... I'd really appreciate it if you take over lunch,'" she explained.

"Again, start from a place of appreciation. Acknowledge what your partner contributes already, and be explicitly clear as to what you would like them to do. Phrase it as a request for their help."

She also said some people can feel protective of how jobs are completed, and learning to relinquish that control can be helpful.

"If you want it to feel more equitable, you have to let your partner do things in their own way," she said.

What happens if that doesn't work?

If you find the conversations aren't helping, you can always try organising a rota, Hayley said.

She recommended using Starling Bank's Share the Load tool to work out your chore split.

However, she said if you feel there are constant conversations and nothing is changing then the issue is becoming more about communication than sharing the workload.

"It's actually about someone not hearing what you're trying to communicate to them, so it's more of a relationship-wide issue," she said.

She advised sitting down and trying to have another transparent verbal conversation, making it clear that you have spoken about this before and how it's making you feel in a factual way, without placing blame.

Using phrases like "I've noticed" or "I've observed" can help, she said.

If after all that, the situation still isn't getting better, she said it's time to consider confiding in friends or family for support, or seeing a relationship counsellor.

Money blog: 'Bleak' new security measure seen in Tesco store (2024)


Is money safe in Tesco Bank? ›

Your eligible deposits with Tesco Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Will interest rates go down? ›

There are no sources for officially projected interest rates in five years, but the Mortgage Bankers Association does predict rates on 30-year mortgages will drop to 6% by the end of 2025. Fannie Mae predicts a 6.3% rate.

What is the safest store of money? ›

Where Is the Safest Place To Keep Cash? Deposit accounts—like savings accounts, CDs, MMAs, and checking accounts—are a safe place to keep money because consumer deposits are insured for up to $250,000, either by the FDIC or NCUA.

What is the safest bank to keep my money in? ›

Summary: Safest Banks In The U.S. Of June 2024
BankForbes Advisor RatingLearn more CTA below text
Chase Bank5.0Read Our Full Review
Bank of America4.2
Wells Fargo Bank4.0Read Our Full Review
1 more row
Jun 5, 2024

What is the interest rate forecast for the next 5 years? ›

The median projection for the benchmark federal funds rate is 5.1% by the end of 2024, implying just over one quarter-point cut. Through 2025, the FOMC now expects five total cuts, down from six in March, which would leave the federal funds rate at 4.1% by the end of next year.

Will mortgage rates ever be 3% again? ›

In summary, it is unlikely that mortgage rates in the US will ever reach 3% again, at least not in the foreseeable future.

How low could interest rates go in 2024? ›

The 30-year fixed mortgage rate is expected to fall to the mid-6% range through the end of 2024, potentially dipping into high-5% territory by the end of 2025. However, recent economic developments have led some forecasters to believe that rates will remain elevated at around 7% for the remainder of this year.

How reliable is Tesco Bank? ›

Breakdown Cover
Customer happiness score62.12%
Customer trust score55.7%
Complaints performance66.33%
Transparency rating67.22%
Fairer Finance Score Reviewed Spring 202462.12%

Is Tesco secure? ›

We're committed to respecting the use and security of your personal data. We want you to trust that your personal data is safe, secure and being used with you in mind. Tesco privacy centre is here to help you understand how we collect, protect and use your data, while creating a more personalised shopping experience.

Is Tesco Bank genuine? ›

Tesco Personal Finance plc, trading as Tesco Bank, is a British retail bank which was formed in July 1997 (as Tesco Personal Finance).

Is Tesco Bank closing down? ›

Tesco Bank has announced it will close all of its 213,000 current accounts on 30 November 2021. But credit card, loan, insurance and most savings customers aren't affected – we've full info on what's happening and what you need to do below.

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