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What you should do if your company wants to cut your pay

There are lots of pressures on household budgets at the current time, but experts on the FT Money show are here to guide you through it. On this week's podcast we’re going to be talking about worker’s rights if companies want to cut their pay; whether you should take a ‘payment holiday on your mortgage’, and how to get a refund on a holiday you can no longer take - our Money Mentor Lindsay Cook is here to help. And with children at home, we’ve also got ideas to inspire them to learn more about money matters - and there’s even a competition parents can enter for sharing their best ideas.

 

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Millions of Americans face crisis payment delays

Consumers who use tax preparation services or software could have to wait months for money




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Thousands could now be eligible for child benefit payments

Parents who haven’t historically claimed could now do so due to lost income




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Taking pay cut ‘could trigger a tax bill’

Tax experts warn of unintended consequences of reducing or giving away pay and bonuses




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Winter fuel payments: time to throw them on the fire? 

A move to donate universal benefits to charity could turn up the political heat  




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Goldman-backed Travelodge under pressure to pay its rent

Landlords reject call for 50% reduction, saying hotel group is using Covid-19 crisis to cut costs




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Superdrug becomes latest retailer to slash rent payments to landlords

Health and beauty chain cites ‘unprecedented decline’ in footfall




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Peso slides as Argentina seeks more time to pay

Macri tries to shore up confidence amid market worries over prolonged political instability and $101bn owed




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Martín Guzmán: Argentina cannot afford to pay creditors more

Even before Covid-19 struck, the country’s debt trajectory was out of control




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Energy groups seek help on payment holidays

Loan scheme worth up to £100m a month would allow suppliers to assist struggling customers




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Architect of Sweden’s no-lockdown strategy insists it will pay off

Epidemiologist Anders Tegnell says other countries could face big ‘second wave’




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LSE to pay dividend after riding market turbulence

Frantic trading across financial markets pushes revenues up at the exchange and financial data group




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The Apple Card is an expensive way to pay

It is right for the Fed to lead America towards faster and more efficient bank payments




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Royal Dutch Shell: payout cut ends value era

Oil group’s share price has lost its moorings




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Visa in partnership with MFS Africa digital payments hub

Tie-up aims to allow people with mobile wallets to pay for international online services




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Saudi Telecom to pay $2.4bn for Vodafone Egypt stake

Prospective deal comes as Riyadh-listed STC seeks to expand regionally




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UK tenants pay less than half owed in rent

Many decide to hold on to cash, triggering disputes with landlords in commercial and residential sectors




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£1m-plus mortgage borrowers pay over the odds

Interest rate disparity could add nearly £2,500 per month to the cost of servicing a £5m mortgage 




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US businesses face uncertainty over paying staff for temperature checks

The time it takes for employees to be assessed is putting companies in delicate legal territory




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More than £52bn in dividend payments at risk in UK

Almost half of British companies have scrapped payouts in response to coronavirus




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UK watchdog orders insurers to pay small business claims quickly

FCA warns failure to act could count against provider’s regulatory record




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Admiral pulls special dividend but maintains final payout 

Insurers have been urged by regulators to reconsider shareholder payments during lockdown




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Consumers pay big price after free cash machines close

Withdrawal fees soar to £104m and banks save £120m in ATM shake-up




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Banked picks up £2.35M seed to use open banking for account-to-account payments

Banked, a London-based fintech using open banking to enable account-to-account payments at checkout (and beyond), has raised £2.35 million in further seed funding. The round was led by Force Over Mass, with participation from previous investors Backed and Acrew Capital, along with a number of high-net-worth individuals, such as Paul Forster (co-founder of Indeed.com). It […]




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Covid-19 to boost worker pay; Soros chips in; BRT sinners; Shell’s carbon pledge

Your guide to the investment and business revolution you can’t afford to ignore




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Disney’s pay furore; Robeco warns of green risk in tech; JPM, McDonald’s face ESG fight

Your guide to the investment and business revolution you can’t afford to ignore




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WhatsApp eyes lending feature in India as Amazon rolls out Pay Later to tens of thousands of customers

WhatsApp, which began testing its mobile payments feature in India two years ago, could offer at least one more financial service to people in its biggest market. In a filing with the local regulator in India, the Facebook -owned messaging platform has listed credit as one of the areas it will pursue in the country. […]




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Bird is testing Bird Pay, which lets users purchase items from local businesses using its main app

Another on-demand transport app is making a move into payments to expand the existing relationship with its customers (and subsequent margins that it makes from serving them). Bird today announced the launch of Bird Pay, a service that will let people use its app to purchase items from local participating businesses alongside renting scooters. The service […]




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Alipay owner Ant Financial takes minority stake in Klarna

Some big moves in the payments platform space: Ant Financial Group, the owner of China’s Alipay payment platform, has announced it’s taking a minority stake in Swedish payments platform Klarna . Klarna has a strong European presence and a flagship product that lets shoppers buy now and pay later in interest-free installments (typically 14 or […]




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Symend raises $52M to help mediate when customers are at risk of defaulting on payments

With unemployment growing at a worrying rate, we’re seeing a lot more people finding themselves in hot water when it comes to their finances. Today a startup that’s built a platform to help identify and help those users when they find themselves unable to make payments is announcing a very large growth round of funding […]




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Can I force my stepson to repay money I lent him to buy his flat?

I am in the process of getting divorced from his mother




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Am I responsible for paying my landlord’s tax bill? 

HMRC’s letter says I might have to withhold tax from my rent 




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Will we have to pay a 3% stamp duty surcharge on our new home?

I own three properties and want to buy another with my new partner




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Can I increase divorce payments from my ex-husband?

I am approaching retirement age with very little pension to live on




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I’ve been asked to take a pay cut, should I agree?

My employer has said that if we don’t cut salaries redundancies will be on the cards




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WhatsApp eyes lending feature in India as Amazon rolls out Pay Later to tens of thousands of customers

WhatsApp, which began testing its mobile payments feature in India two years ago, could offer at least one more financial service to people in its biggest market. In a filing with the local regulator in India, the Facebook -owned messaging platform has listed credit as one of the areas it will pursue in the country. […]




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Private equity managers rebuked over slashing US doctor pay

Row escalates between Elizabeth Warren, Blackstone and KKR after coronavirus crisis prompts cuts




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Fundbox raises $176 million Series C to build ‘Visa’ for B2B payments

Credit cards have become all but ubiquitous for consumer transactions, and it isn’t hard to see why. By intermediating payments, networks like Visa allow buyers and sellers to exchange money for goods and services without knowing the financial risk profile of the counter-party. Rather than applying for credit at every merchant you shop at, you […]




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Payments infra startup Finix closes $35M Series B led by Sequoia

This morning Finix, a software-as-a-service (SaaS) startup selling payments tech to other businesses, announced that it has raised a $35 million Series B. Sequoia led the round, which also saw participation from new investors Activant Capital and Inspired Capital. Finix did not disclose a new valuation as part of its round, and declined to share […]




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PayPal, Intuit & Square approved to offer loans to small businesses through coronavirus relief program

Fintech companies have been lobbying for weeks to be able to participate in the U.S. government’s emergency lending program for small businesses. Now those efforts have paid off, as PayPal, Intuit and Square have all been approved to participate in the U.S. Small Business Administration’s (SBA) Paycheck Protection Program, which provides aid in the form […]




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BuzzFeed extends pay cuts and furloughs 68 employees

BuzzFeed plans to furlough 68 employees as part of broader cost-cutting measures, according to a memo from CEO Jonah Peretti that was shared earlier by Variety. We’ve also obtained a copy of the memo, in which Peretti said the furloughs will affect the business, studios and administration teams. It sounds like the furloughs do not […]




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Widening Gender Pay Gap sees Australia fall Furthest in Global Rankings: PwC Women in Work Index - 3 Mar

Australia dropped six places to 15th position - the largest drop out of the 27 OECD countries measured.




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Flickr owner SmugMug emails subscribers with an urgent request: help us find more paying users

When in April of last year, the photo-hosting service SmugMug acquired the photo-hosting service Flickr from Verizon’s digital media subsidiary, SmugMug CEO Don MacAskill said he was committed to breathing new life into the service, calling it “core to the entire fabric of the Internet.” MacAskill didn’t reveal at the time how much SmugMug — […]




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Banked picks up £2.35M seed to use open banking for account-to-account payments

Banked, a London-based fintech using open banking to enable account-to-account payments at checkout (and beyond), has raised £2.35 million in further seed funding. The round was led by Force Over Mass, with participation from previous investors Backed and Acrew Capital, along with a number of high-net-worth individuals, such as Paul Forster (co-founder of Indeed.com). It […]




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Why it pays to be a liar: As the hit series returns, Ioan Gruffudd reveals where the story will go

Ioan Gruffudd is set to return to ITV's Liar as Andrew Earlham next month. Father-of-two who lives in LA, says he's now 'old and weathered enough' to represent anti-heroes.




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Phillip Schofield pays tribute to Steph, his wife of 27 years

The much-loved broadcaster, 57, has praised his 'loving' spouse Steph who has helped him come to terms with his sexuality just two years since celebrating their 25th silver wedding anniversary.




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Seven appeals ruling to pay a House Rules 'villain' compensation

Channel Seven has lodged an appeal after the Workers Compensation Commission (WCC) ordered the network to pay a former House Rules contestant's medical bills. 




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Neymar pays tribute to Kobe Bryant with goal celebration after NBA legend's death

Neymar has paid tribute to Kobe Bryant after one of basketball's greatest ever players died in a helicopter crash. The news broke shortly before PSG's Ligue 1 victory over Lille.




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Sancho pays tribute to Kobe Bryant by signalling No 24 in goal celebration

Bryant lost his life in a helicopter crash last Sunday, which also claimed the lives of eight others, including his 13-year-old daughter Gianna. Sancho dedicated his goal to Bryant.




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Coronavirus: Barcelona are furloughing staff despite Lionel Messi and Co's big pay cuts

PETE JENSON IN SPAIN: Barcelona rushed to furlough their non-playing staff before waiting to see if the season would resume and despite Lionel Messi and Co taking massive pay cuts.