Essential reads
- 'This job has saved lives': What's it like selling the Big Issue?
- Major change for Barclays customers next week
- Has the Nike trainer bubble burst?
- Top chef shares cheap soup recipe - as he picks best budget eats in Kent
Tips and advice
- Key deadline for free childcare today
- Eyewatering rate hike awaiting anyone coming off a five-year fixed
- Treat savings like monthly bill, says savings guru
- Young people doing 'big no-no' with holiday money - here are the golden rules
Ask a question or make a comment
'This job has saved lives': What's it like selling the Big Issue?
By Bhvishya Patel, Money team
It was easy to find him - the red jacket stuck out in the slow-moving crowd.
I'd come to meet Andre Rostant in Soho on a Friday afternoon armed with a list of questions: those that occur to me and probably most of us when we pass a Big Issue seller on the street.
They ranged from the personal to the practical - how does it all work? How do vendors make money?
Most of them, it turned out, Andre was prepared to answer - some he wasn't.
What are the criteria?
Andre, who is 60, has been a Big Issue vendor for more than a decade.
Founded in 1991 and now the world's most widely circulated street newspaper, the magazine offers homeless people, those at risk of homelessness or those experiencing poverty a chance to earn an income.
There is no application form but sellers must be over the age of 18.
Once their age has been verified, a vendor is allocated a pitch and can start selling the magazine immediately that day - they get five free copies to sell initially.
How much do sellers earn?
The Big Issue operates as a business and vendors buy their magazines for £2 and sell them for £4, making £2 a copy.
Sellers "are immediately earning and putting [money] into their pocket", says Catherine Parsons, managing director of the Big Issue Changing Lives Community Interest Company.
"It's their stock and their investment so every sale counts for those vendors," she adds. "While £2 doesn't sound a lot, it is a lot to that individual."
Andre, who lives in temporary accommodation with his teenage children, says his job is a "flexible way of making money" when he needs - though not a long-term solution.
He says it works as "supplemental income or emergency income", adding: "It would be perhaps ambitious to use it as your sole income. It's a difficult thing to make a full income out of."
Alongside selling the magazine, Andre does other work where he can - until three weeks before I met him he was also working three days a week doing secretarial work at a law firm.
When you're homeless, Andre says, "a lot of your spending is on emergency stuff because things break and run out and if you are waiting until the end of the month you just don't have the money - but with this you do.
"With this, you can fill in the gaps."
What is a typical day like?
Andre had been at his pitch for about three hours when I met him and was rounding off for the day.
There's no set times for sellers to be on the street - but a typical shift might be five or six hours. Many other vendors do part-time or casual work alongside, like Andre.
The key, he says, is being consistent about the time spent on your pitch, comparing selling to fishing: "Some days you can stand here and as pretty as you look, you can just stand here for a couple of hours and people walk past smiling and someone might give you a pound.
"On another day it's as though the fish are jumping in.
"You could sell no magazines one day and 20 the next."
'It's a blunderbuss technique but it works'
So what's the best way of getting someone to stop and buy a copy?
Andre's method is simple: "I'm not shy of people - my technique of selling is I will stand in the middle of the pavement as an obstruction and by way of attrition you will get sales.
"I make a sound, I'm standing in the middle of the pavement - it's a very blunderbuss technique but it works."
Most interactions are positive, he says: "The experience of people is overwhelmingly good. People are overwhelmingly sympathetic and good.
"But I've had in the past young drunk men dragging my magazines and shouting out things. There is a presumption that this is something we are begging for - it's not.
"In the same way WH Smith is there on the corner selling magazines, I'm here on this corner selling magazines in the same way. I buy them and sell them."
From destitution to published author
My last question was personal: how did Andre come to find himself outside a Foyles bookshop near Leicester Square selling the Big Issue?
He tells me he became homeless in 2012 - he was "destitute" and in "terrible debt".
He had worked for the Financial Services Authority doing secretarial work before he lost his home.
He's not comfortable sharing any more details, but he hints at the difficulties he has faced: "I think I would have imploded in some way if I had tried to just keep doing a regular five-day-a-week job with the pressure of the children and the pressure of the circumstances that led to our being homeless.
"I just couldn't have done it."
Andre's experiences of poverty have also inspired him to write a book, The Muffin Man, which was published in June and explores the mind of a Big Issue vendor working in the underbelly of Soho.
It was published by Arkbound, a charity book publisher, but he was repeatedly rejected at first: "I sent my manuscript to a load of publishers and all of them wrote back and said 'this is interesting but it's not our cup of tea'."
'This job has saved lives'
Selling the Big Issue is about much more than the money for Andre - it's life-saving.
"This is a way of meeting contingencies and finances but more importantly than that, perhaps, is the human contact," he says.
"It's interacting with people which you wouldn't necessarily otherwise get."
He says: "If you are homeless and single, who do you communicate with? Who do you meet? Who do you see during the day?
"This interaction brings you back into the real world. I can say for certain that this job has saved lives.
"There are people who might otherwise have taken their life but because of this and the interaction with other people, they don't."
He also says the Big Issue acts as a "a stepping stone back into regular society".
Ms Parsons agrees: "It's a really difficult job and not very well paid and we assume that people who want to sell are people affected by poverty.
"It's that sense of belonging to a community and having regular people they can talk to and a sense of being seen and heard.
"It's a really important structure in lots of people's lives - it gives them a reason to get up and get out of bed in the morning.
"It's also really important that those vendors are not just standing outside, sometimes in the rain, for six hours and people are not just walking by and not even making eye contact.
"The one person that stops and buys a magazine will keep them going for another hour getting wet in the rain."
In the end, Andre says, Big Issue sellers have many of the same struggles as most people do.
"While I still need to find a fiver for milk and bread - this helps take the edge off," he says.
"And it's London - everybody has got multiple jobs and nobody has got any money. We're all working like maniacs just to stand still.
"If I do this I can make sure my children have shoes on their feet and clothes on their back and food in their bellies."
Anyone over 18 can start earning a legitimate income almost immediately by becoming a Big Issue vendor. You'll receive full support, work fully flexibly and get five free copies to sell initially. Just emailvendor.support@bigissue.comfor more information.
What you need to know this week as we sign out
By Jimmy Rice, Money blog editor
As Britain woke up from a long bank holiday weekend, Sir Keir Starmer gave the country something else to look forward to: tax hikes and spending cuts.
These were all-but confirmed in a Downing Street news conference outlining the "dire" state of the public finances.
Again we heard that VAT, national insurance and income tax would be exempt from any changes. Instead, commentators believe levies on capital gains and inheritance will rise, with leading tax firm Blick Rothenberg issuing this warning on the former...
We have two months to wait for more details - the budget is on 30 October - but our politics team has outlined which other taxes the chancellor could have in her sights here...
One of the first things to go under Labour - ministers say due to the economic inheritance left by the previous government - was universal winter fuel payments for pensioners.
Only those who receive pension credit or other means-tested benefitswill still get the £200-£300 towards the cost of their energy bills.
Even then, they could have to fill in a 243-question form, as we revealed on Thursday…
On Wednesday's episode of the Daily, host Liz Bates heard from one ofthe plan's critics, Labour backbencher RachaelMaskell.
Plus, Liz discussed whether there could be an alternative - one that could keep everyone happy - with The Social Market Foundation'sSam Robinson.
Listen below or tap here to follow the Daily wherever you get your podcasts.
Finally, here in the Money blog, we looked at the hidden refund option that could save you hundreds of pounds...
We'll be back with live updates on Monday - but do check out our Saturday feature on Big Issue sellers from 8am tomorrow.
Have a good weekend.
'Nike has lost its way': What you've said this week
One of the stories inviting the most reader comments this week was our feature on whether the Nike trainers bubble has burst...
Many of the things examined in the long read came up in your correspondence - with quality and price seemingly major issues for consumers...
Nike have lost their way in the running market, unless you are looking for a top of the range, super fragile, supershoe. I used to have multiple pairs in my rotation, but today I don't have a single one. Brands like Hoka beat them hands down on product line-up & quality.
TheRunner
I think Nike trainers in this era are ugly & overpriced. I collect Nike OGs from the 80s & 90s. Classic Nike Air Max 1s, Air Trainer 1s, 180s, you cannot go wrong with them.
MarkyG74
Bought a £180 pair of Nike trainers the other week, smudged glue, loose fabric + stitching everywhere, most trainers nowadays should come with some trimming and assembly required note.
Gudgeonb
Has Nike rested on their historical reputation and not moved on with the market? Value for money, consumer ethical beliefs and young people have moved on - have they simply lost that competitive edge? Not great for trail running that's for sure! Fashion statement, maybe.
Jo
Jordans have had their day, Nike losing the market.
Stoneymezza
Nike have priced themselves out of the market, the price of their trainers have increased by £40 on a pair of Air Max 90s in the last three years, people won't be ripped off and will simply take there business to other brands.
Matteo
Nike's bubble has burst, they ditched the independent retailer and it's been downhill from there. New brands are now occupying independent retail spaces, retail space whereby you get a personalised experience, one where you learn the history and culture of a brand.
Anthony Hammond
This is always down to price. The affordability of some of these trainers is scandalous, £200 for same material as ones I get front Primark for £10.
Nickgloverbirkenhead
Myself and fiancée used to love Nike. But I feel they aren't as diverse and inclusive as they once were. Additionally, they aren't as affordable or comfortable. It feels as if they've prioritised cheap manufacturing over expensive prices. This is upsetting. From a Nike fan.
Niall Benson
Readers also reacted to this post suggesting capital gains tax could rise in the October budget...
These were some of the comments...
I spent many of my professional years being paid by clients to minimise their exposure to CGT. The government could (and perhaps should) require a CGT computation on a property sale, to be made as part of the sales transaction and a payment made on account at that time.
Nick Taylor
The vast majority of working people earning below £30k a year will not need to worry about this. So why are the media making a big deal of it? CGT accounts for 2% of total tax so it's a good move for the people or companies to pay their fair share as it's felt like they haven't.
Mike
We also had lots of mail on hotels putting up prices on nights when Oasis are playing.
This dynamic pricing is used across the industry - but this week Maldron Hotels found itself facing a backlash after what it called a "technical error" led to cheaper reservations being cancelled, and then the rooms being temporarily advertised at a higher rate.
Here are some of the comments that came in...
Booked a hotel in Dublin for Oasis concert dates yesterday, paid 200 then they cancelled it and when I went back on the same room was nearly 500.How is this allowed?
Joe mallon10
Happened to me. Booked two rooms at the Maldron Hotel Cathedral Square at £253 each. Got an email to say they were cancelled, called the hotel as they were still confirmed on booking.com and they said they were all cancelled on their side but being resold at £443 10 minutes later.
Katie
Hotels have been doing this for years. The minute LFC get into a final the room prices triple.
Jackolfc
The prices can only go as high as the concert goers will. For these concerts they will be prepared to go very high. That's the ONLY reason Oasis are touring. Money!👍🏼😂
Hafalumpa
Hotels should be regulated and fined for doing such unscrupulous pricing. They do this regularly for events, it needs government intervention.
Barbara
Train driver strikes called off | Sainsbury's to convert Homebase stores | Vinted launches electronics category
Planned strikes by LNER train drivers have been called off this weekend, the Aslef union has announced.
Members were due to walk out tomorrow and over several more weekends this year over a dispute about the breaking of work practice agreements.
However Aslef has announced today that the industrial action has been suspended and drivers will work as normal.
It follows meetings between the union and LNER bosses.
Sainsbury's has announced a £130m deal to buy 10 Homebase stores and convert them into supermarkets, in a move that is expected to create around 1,000 jobs.
It said the deal should be completed next month.
The new shops will cover "key target locations" for expansion across England, Northern Ireland and Scotland, the supermarket said.
The first converted store is due to be opened next summer, will all sites expected to be converted by the end of 2025.
Vinted has launched a new electronics category on its app, allowing for items such as games consoles, headphones and smart watches to be sold for the first time.
Retail Week reported that the new category has been brought in due to the popularity of the limited number of electronics allowed to be sold on the app previously.
Fashion will remain the focus of the second hand marketplace, it said.
Experts react as workers could be given right to demand four-day week
Experts are reacting today after it emerged that employers will have to offer flexible working hours - including a four-day week - to all workers under government plans.
To receive their full pay, employees would still have to work their full hours but compressed into a shorter working week - something some workplaces already do.
Currently, employees can request flexible hours as soon as they start at a company but employers are not legally obliged to agree.
The Labour government now wants to make it so employers have to offer flexible hours from day one, except where it is "not reasonably feasible".
It is understood Deputy Prime Minister Angela Rayner is behind the move and wants to introduce legislation on it this autumn after consulting with unions and businesses.
The government has denied employers will be forced to allow staff to work four-day weeks, or make employees work a four-day week.
But some experts have reacted positively to the proposed plan, with one describing it as a "beacon of hope" for employee wellbeing.
Gabriel McKeown, head of macroeconomicsat Sad Rabbit Investments, said talk of a four-day week is now longer a "whisper in the corridors of progressive workplaces".
"Yet, despite the natural 'too good to be true' suspicion surrounding anything that feels remotely utopian, this policy could be a beacon of hope for improved mental health and enhanced productivity," he said.
He noted that implementing the change would not come without "complexities" for employees.
Meanwhile,Cara Cunniff, leadership and performance consultantat ThriveWell Global, said a "clearer focus on outputs over inputs may be just the thing to jolt the British economy into action".
The plan "throws down the gauntlet" and "may be just the catalyst employees and businesses need" to recruit and retain the best workers, she said.
"We're in a race for scarce talent and the expectations of the workers of today and tomorrow bear little comparison to those of former generations."
Sky News has also spoken to Joe Ryle, director of the 4 Day Week Campaign, and Michelle Evans, founder of Small Business Britain, about what they think of the government's plan.
Mr Ryle says he welcomes the move which shows that ministers recognise "the four day week is here to stay" - though he noted the proposal only allows for a compression rather than a reduction in hours, which is what the campaign is aimed at.
He says some companies which have allowed employees to reduce their hours and maintain their pay have "seen productivity being maintained and the wellbeing of workers improving".
Offering a different opinion, Ms Evans says it could cause "challenges" for small to medium businesses.
There are lots of sectors where this "just isn't feasible", she adds, saying firms such as those in the retail and hospitality sector "can't just close for a day" or afford to hire more staff.
She adds that it's important to "be really clear" about how far flexible working can go. Smaller businesses "aren't the bad guys" and "want their staff to do well", she says.
Fans fume at 'farcical' Oasis ticket prices - as we ask readers how much they would spend
As the hopes of tens of thousands of Oasis fans are crushed by a tweet just now announcing that everyone who's got lucky in the presale ballot has already been contacted... we've been asking just how much you'd be willing to pay for a ticket.
Oasis revealed yesterday how much tickets for the upcoming tour will cost, after Liam and Noel Gallagher confirmed they'd set aside their differences for a hotly anticipated reunion.
Prices for the cheapest seats start at around £73 and around £150 for standing - while the most expensive ticket will see fans paying over £500.
It had been widely reported that tickets could soar over the £100 mark.
A poll of Sky News followers on LinkedIn has offered some insight into how much people are willing to fork out to see one of the biggest bands of the 90s:
The largest proportion of people (42%) said they'd want to spend less than £100 to see Oasis. Only 6% said they'd pay £200-£300, while interestingly, a higher proportion (11%) said they'd be willing to spend over £300.
Social media users are reacting to the ticket prices, as fans prepare to find out today whether they've been successful in a resale ballot.
One X user said they were "so disappointed", while another said the band were "taking the p***".
"Those Oasis ticket prices are a farce," said another.
Other fans took to social media with evidence of much cheaper tickets from days gone by...
But while some have been left feeling put out by how much an Oasis ticket could set them back - others have defended the pricing.
One user said they felt the tickets were a "fair price", while another said: "Did people really expect Oasis to charge the price of a Watford at home ticket and a packet of pork scratchings? Come on."
"Oasis can just take my money I absolutely do not care what the ticket price is," said another fan.
House prices growing at fastest rate in nearly two years
By Sarah Taaffe-Maguire, business reporter
House prices are now growing at the fastest annual rate in nearly two years, the UK's largest building society has said, with rises expected to continue.
In the year up to August, houses became 2.4% more valuable with the average property costing £265,375, according to Nationwide.
But prices are still below the all-time highs recorded in the summer of 2022 by about 3%.
The annual increase and associated increase in buying demand is still "subdued by historic standards", Nationwide said.
Read the full story here:
Deadline for free childcare applications for new age band tomorrow
The deadline for working parents of nine-month-olds in England to register for 15 free hours of government-funded childcare a week is tomorrow.
From 1 September, the free childcare offer is being extended to eligible parentswith children of this age and older.
But with applications due by 31 August, families need to act now.
Check if you're eligiblehere- or read on for our explainer on free childcare across the UK.
England
Three and four-year-olds
In England, all parents of children aged three and four in England can claim 15 hours of free childcare per week, for 1,140 hours (38 weeks) a year, at an approved provider.
This is a universal offer open to all.
It can be extended to 30 hours where both parents (or the sole parent) are in work, earn the weekly minimum equivalent of 16 hours at the national minimum or living wage, and have an income of less than £100,000 per year.
Two-year-olds
Previously, only parents in receipt of certain benefits were eligible for 15 hours of free childcare.
But, as of April, this was extended to working parents.
This is not a universal offer, however.
A working parent must earn more than £8,670 but less than £100,000 per year. For couples, the rule applies to both parents.
Nine-months-old
On 1 September, this same 15-hour offer will be extended to working parents of children aged from nine months. From 12 May, those whose children will be at least nine months old on 31 August can apply to received the 15 hours of care from September.
From September 2025
The final change to the childcare offer in England will be rolled out in September 2025, when eligible working parents of all children under the age of five will be able to claim 30 hours of free childcare a week.
Wales
In some areas of Wales, the Flying Start early years programme offers 12.5 hours of free childcare for 39 weeks, for eligible children aged two to three. The scheme is based on your postcode area, though it is currently being expanded.
All three and four-year-olds are entitled to free earlyeducation of 10 hours per week in approved settings during term time under the Welsh government's childcare offer.
Some children of this age are entitled to up to 30 hours per week of free early education and childcare over 48 weeks of the year. The hours can be split - but at least 10 need to be used on early education.
To qualify for this, each parent must earn less than £100,000 per year, be employed and earn at least the equivalent of working 16 hours a week at the national minimum wage, or be enrolled on an undergraduate, postgraduate or further education course that is at least 10 weeks in length.
Scotland
All three and four-year-olds living in Scotlandare entitled to at least 1,140 hours per year of free childcare, with no work or earnings requirements for parents.
This is usually taken as 30 hours per week over term time (38 weeks), though each provider will have their own approach.
Some households can claim free childcare for two-year-olds. To be eligible you have to be claiming certain benefits such as Income Support, Jobseeker's Allowance or Universal Credit, or have a child that is in the care of their local council or living with you under a guardianship order or kinship care order.
Northern Ireland
There is no scheme for free childcare in Northern Ireland. Some other limited support is available.
Working parents can access support from UK-wide schemes such as tax credits, Universal Credit, childcare vouchers and tax-free childcare.
Aside from this, all parents of children aged three or four can apply for at least 12.5 hours a week of funded pre-school education during term time. But over 90% of three-year-olds have a funded pre-school place - and of course this is different to childcare.
What other help could I be eligible for?
Tax-free childcare- Working parents in the UK can claim up to £500 every three months (up to £2,000 a year) for each of their children to help with childcare costs.
If the child is disabled, the amount goes up to £1,000 every three months (up to £4,000 a year).
To claim the benefit, parents will need to open a tax-free childcare account online. For every 80p paid into the account, the government will top it up by 20p.
The scheme is available until the September after the child turns 11.
Universal credit- Working families on universal credit can claim back up to 85% of their monthly childcare costs, as long as the care is paid for upfront. The most you can claim per month is £951 for one child or £1,630 for two or more children.
Tax credits -People claiming working tax credit can get up to 70% of what they pay for childcare if their costs are no more than £175 per week for one child or £300 per work for multiple children.
Burberry sees biggest share price fall as it prepares to leave FTSE 100
BySarah Taaffe-Maguire, business reporter
It's likely to be one of the last few days that Burberry is included in the list of 100 most valuable companies on the London Stock Exchange - the FTSE 100 - and this morning the British fashion retailer is the biggest loser of the index.
Its share price is down 1.69%, the most of any of the 100 companies, as it's expected to be booted out next week due to share price tumbles. It had been a stalwart of the FTSE 100 for 15 years.
Oil is ending the week back above $80 - higher than most of the past few days - at $80.42 for a barrel of the benchmark Brent crude.
The pound has stayed high, or more accurately the dollar has stayed weak, with one pound falling just about below the more than two-year high of $1.32. Currently a pound buys $1.31.
NatWest apologises as app issue fixed after hours of disruption
In an update to our previous post, NatWest says the issue with its banking app that left customers unable to access some services this morning has been fixed.
A NatWest spokesperson said: "Some customers experienced difficulty in making payments via the mobile app this morning.
"This has been resolved and customers can make payments as normal. We're sorry for any inconvenience caused."