Money, in brief

More than four in ten US adults, 44%, had trouble paying for at least one of four basic needs in the past year, a Pew Research Center survey found. [1][2]

The four were medical care (28% struggled), daily transport costs (22%), rent or a home loan (21%), and food, where 20% used a food bank. [1]

Pew Research Center is a US research group. It asked 5,166 adults in two waves, from 20 July to 9 August and from 24 to 30 August. [1]

Income made the biggest difference: 71% of lower-income adults struggled with at least one need, against 39% in the middle and 13% at the top. [1][3]

Young adults were hit hardest by age, at 60% of those aged 18 to 29, against 26% of people 65 and over. Black adults were at 65% and Hispanic adults at 60%. [2]

27% of all adults cannot pay all their bills in a typical month, and 53% have no savings that would cover three months without pay. [1]

People who struggled were far more likely to borrow from friends or family, 50% against 8%, and to take a payday loan, a small, very costly short-term loan, 31% against 4%. [1]

70% of adults cut back on extras such as eating out or streaming, and so did 51% of upper-income adults, The New York Times reported. [1][3]

Prices have risen faster since the survey. US prices were 3.7% higher in September than a year earlier, and petrol rose 9.1% in a single month. [6]

In a later Pew survey, 74% said they were very concerned about fuel and energy prices, up from 43% in January, before the US military conflict with Iran. [5]

Pew's companion report found 61% think the US has too much economic inequality. Of those, 24% now say the economic system must be completely rebuilt, up from 14% in 2019. [4]

Most people still see themselves as better placed than others: 58% said they are doing better than most Americans at meeting basic costs. [1]

Why it matters. Pew asked in July and August, before September's jump in fuel prices; the next test is whether later counts of missed bills and food-bank visits rise with them. [1][6]

Criminal gangs stole 470 million dollars of food-stamp money from US families in 2025, ProPublica, a US investigative newsroom, reports. [8] The figure comes from Propel, an app families use to check balances, because the US government stopped counting. [8] The aid, called SNAP, comes on cards that still use 1960s magnetic stripes, which hidden readers copy easily. [8] Bank cards moved to chips years ago. [8] Chip cards would stop most theft, but the US Congress has not paid for them. [8]

Why it matters. More than 990,000 households had money stolen, and federal law says it cannot be refunded. [8] The average family gets about 350 dollars a month, and most learn of the theft at the till. [8]

An investigation by Tradeoffs, published by KFF Health News, a US health news service, read the money-help rules of all 166 nonprofit hospitals in Texas. [9] 44% say they bill patients before checking whether they qualify for free or cheaper care. [10] Only 10 promise a full refund to patients later found to qualify. [10] Nonprofit hospitals pay no income, sales or property tax, in return for helping their community. [9] Tom Oliverson, a Texas lawmaker, wants checks made before any bill. [9]

Why it matters. Aimee Carlock paid 5,500 dollars up front for surgery, then learned her care should have been free, and got nothing back. [9] About 100 million US adults owe money for health care. [9]

The US Social Security Administration, which runs the state pension for about 76 million people, set the January 2027 rise at 3.6%. [7] That is about 75 dollars a month for the average retired worker. [7][15] The rise follows a price index measured in September. [7][15] In the same announcement, the most pay that can be taxed for the pension rises from 184,500 to 192,300 dollars. [14] Workers pay 6.2% on pay up to that cap. [14]

Why it matters. Most members of AARP, a US group for people over 50, said they would need a 5% to 8% rise to keep up. [15] Fuel oil, which heats many homes in the north-east, costs 74.2% more than a year ago. [7]

California ordered mortgage lenders on Thursday to report how they handle insurance money for survivors of the 2025 Los Angeles fires. [11] On a home with a mortgage, the lender holds the payout and releases it in batches as rebuilding goes on. [11] The state's financial regulator has had more than 160 complaints about delays since January 2025. [11] Lenders have two weeks to report. [11] The Palisades and Eaton fires destroyed more than 16,000 homes and buildings. [11]

Why it matters. Very few of those homes have been rebuilt. [11] A survivors' group says lenders earn interest while they wait, and a state law from last year now makes them pay homeowners interest on the money. [11]

From 19 October, the US Department of Transportation narrows which delays count as the airline's fault. [12] Ten causes leave that list, including repairs nobody planned, removing an unruly passenger, cyber attacks and a government shutdown. [12] A passenger's right to a refund depends on the delay being within the airline's control. [12] The department wrote that it expects the meals, hotels and payments airlines give to fall. [12]

Why it matters. A traveller stuck by one of those ten causes now has fewer grounds for a refund or a hotel. [12] Fares are already high, so the cost of a ruined trip moves to the passenger. [12]

Andrew Sharpe, a Conservative MP and the party's shadow business minister, backed a report calling for the UK's legal minimum wage to stay at 12.71 pounds an hour for five years. [18] The report is by the Prosperity Institute, a think tank. [18] It says a freeze could put about 270,000 more young people in work. [18] It admits low-paid workers would lose 9% to 12% of their buying power over five years as prices rise. [18] It would also scrap the Low Pay Commission, which recommends each year's rise. [18]

Why it matters. The commission says it knows of no solid evidence that higher youth rates cut young people's jobs. [18] It sends its advice on the April 2027 rate to the UK government this month. [18]

Jarvis Investment Management, a UK firm that held shares and cash for its clients, went into special administration on 14 October. [20] That is a kind of insolvency for investment firms, where court-appointed administrators first try to return clients' money and shares. [20] Clients cannot trade or use their holdings meanwhile, and will hear within eight weeks how to claim. [20] Its parent company had tried to sell it this year and found no buyer. [21]

Why it matters. Since 2022 the firm had agreed with the FCA, the UK's financial regulator, to limit what it could do. [20] If money is missing, the UK's compensation scheme may cover up to 85,000 pounds per eligible client. [20]

ePayments Systems, a UK firm licensed to hold electronic money for payments, went into special administration on 15 October. [22] Administrators will check what customer money it still holds, then explain how to claim. [22] The UK's compensation scheme does not cover payment firms. [22] Instead, the rules require them to keep customers' money apart from their own. [22] The FCA warned that firms offering to recover money for a fee add nothing for most customers. [22]

Why it matters. Two UK firms holding ordinary people's money failed in two days. [20][22] Jarvis clients may be covered up to 85,000 pounds; ePayments customers have no such scheme. [20][22]

The typical US asking price fell 0.3% on a year earlier in the four weeks to 11 October, Redfin, a property website, said. [26] It was the first fall since March, and a record 22% of sellers cut what they were asking. [26] The typical buyer's monthly payment was 2,777 dollars, close to a record. [26] Freddie Mac put the 30-year home loan rate at 7.40%, unchanged and at a three-year high. [27] NerdWallet's count fell slightly, after seven weeks of rises. [28]

Why it matters. More sellers are cutting what they ask for their homes. [26] Buyers still face payments near a record, because the loan rate has barely moved. [26][27]

Medicare, the US government's health insurance for people 65 and over, opened its yearly window to change plans on 15 October. [16] About 72% of private Medicare Advantage plans charge no monthly fee for 2027, NerdWallet found. [16] Cost was the top reason people left a plan: 21% of those leaving Advantage plans and 43% leaving drug plans. [16] One adviser counted 81 plans on offer near him in Wisconsin. [41]

Why it matters. A plan with no monthly fee can still charge 225 to 2,400 dollars for a week in hospital, depending on the company. [16] So the cheapest-looking plan is not always the cheapest to use. [16]

A US Postal Service rule from December 2025 means a letter may be stamped with its date a day or more after it is posted. [17] The postmark is the date that counts for a tax return sent by post. [17] 15 October was the deadline for taxpayers with a six-month extension. [17] Fifteen states also count mail-in votes by postmark, while 35 need them to arrive by 3 November. [17]

Why it matters. A return posted on time but stamped a day later can count as late. [17] From 26 October, postal staff are to stamp ballots by hand on the way to election offices. [17]

More than 11,400 UK drivers told the DVLA, the agency that registers vehicles, last year that they had been fined for offences they said were not theirs. [13] That is 9% more than in 2024 and almost double 2018, says the RAC, a motoring group. [13] Most are thought to be cloned plates, copies of a real number on a similar car. [13] An investigation last year found more than 130 official suppliers willing to sell copies. [13]

Why it matters. The fine arrives at the real owner's home, and they have to show it was not them. [13] The UK government has promised a new roads policing team and an online tool to report it. [13]

Synetal Solutions, a UK company registered in 2025, advertised care-work training with sponsored job placements for 5,500 pounds, the BBC reports. [19] A sponsored job is one where the employer backs the worker's visa. [19] Apurv Patel paid 3,600 pounds and, eight months on, has had no job offers. [19] UK rules say an agency may not charge just for finding someone a job. [19]

Why it matters. Synetal says it disputes that its results are fictitious, and it has removed job guarantees from its website. [19] Citizens Advice in London says such scams rose after the UK stopped hiring care workers from abroad. [19]

New York developers keep planning buildings of exactly 99 flats to claim a state property-tax break called 485-x. [29] At 100 flats, the share of cheaper flats rises from 20% to 25%, and building workers must get at least 40 dollars an hour. [29] The city's list on 14 October added 20 projects at exactly 99 and none at 100 to 104. [29]

Why it matters. One count found that clusters of small buildings gave 538 fewer affordable flats than single big ones would have, a 21% shortfall. [29] Unions call it a loophole. [29]

US builders have 370,000 homes for sale that are still being built or not yet started, Census figures for August show. [30] Immigration raids on building sites are making finishing crews harder to find, HousingWire, a housing news site, reports. [30] Those include drywall fitters, painters and floor layers, who must arrive in the right order. [30] Each delay adds to what a builder pays while carrying an unfinished home. [30]

Why it matters. Slower finishing keeps the supply of new homes short. [30] That lands on buyers already facing payments near a record. [26]

HUD, the US department that funds housing programmes and enforces fair-housing law, cut its staff by 29% between December 2024 and December 2025. [31] Its headcount fell from 8,842 to 6,299, a government watchdog report found. [31] More than half of those who left had served at least ten years. [31] Groups that work with HUD told investigators it has become harder to deal with. [31]

Why it matters. Scott Turner, the housing secretary, says the cuts stop waste. [31] Senator Elizabeth Warren says more Americans have fallen behind on rent as a result. [31]

The Mortgage Bankers Association, the US lenders' trade group, released a list of cost cuts regulators could make without a new law. [34] Cutting the yearly insurance fee on FHA loans, which a US government agency insures, by 0.2 points would save 800 dollars a year on a 400,000-dollar loan. [34] Trimming fees that Fannie Mae and Freddie Mac charge by credit score would save 1,000 dollars at signing. [34]

Why it matters. The ideas are the lenders' own proposals, and none has been adopted. [34] If they were, the savings would reach borrowers in their monthly payments and at signing. [34]

The typical US asking rent for homes with up to two bedrooms was 1,694 dollars in September, Realtor.com says. [35] That is 0.4% lower than a year earlier, the 38th yearly fall in a row. [35] But rents rose in cheaper cities taking renters from dearer ones. [35] St Louis rose 2% to 1,300 dollars, with nearly half its out-of-town interest from Chicago. [35]

Why it matters. People moving to save on rent push up rents where they land. [35] Minneapolis and Virginia Beach both rose 1.7%. [35]

Lion Green Road, 157 homes built by Croydon Council in south London, won the Stirling Prize, the UK's top architecture award. [23][24] The brief asked for 80 homes; the architect, Mary Duggan, fitted 157 into five blocks and kept the trees. [23] It mixes affordable and private homes on an old car park. [24] Only one council housing scheme had won before, in Norwich in 2019. [23]

Why it matters. The plan drew 257 objections and 18 letters of support, mostly over parking. [23] The UK government plans to put 39 billion pounds into housing. [23]

Lambeth council in south London is set to drop plans to knock down two 1960s council estates, Cressingham Gardens and Central Hill. [25] Residents campaigned against demolition for more than ten years. [25] The Greens, who took control in May, oppose it, and the cabinet is expected to reverse the plans next week. [25] A 2022 review found redevelopment would add very few homes at social rent, the low rents councils set. [25]

Why it matters. Tenants and leaseholders lived for years not knowing if their homes would stand. [25] The council says it will now repair homes and fill empty ones. [25]

Bloomberg Philanthropies, the charity of the businessman Michael Bloomberg, will give 30 US cities 450,000 to 750,000 dollars each to speed up approval of new housing. [32] The first 15 include Miami, Nashville, Pittsburgh and San Jose. [32] A builders' study found rules now make up 26.4% of the average price of a new home. [32] Realtor.com counts a shortage of 4.03 million homes. [32]

Why it matters. Bloomberg says city halls are where the shortage pushing up rents can be eased. [32] Results are expected within two years. [32]

D.R. Horton, the largest US homebuilder, signed a deal with Promise Robotics, a Canadian firm, to make parts for more than 1,250 homes in robot-run factories. [33] Robots will make stairs, doors and window frames before each home is put together on site. [33] Horton built about 85,000 homes last year. [33] Promise says its homes will sell at current market prices. [33]

Why it matters. Builders are short of workers, which is also what slows the 370,000 unfinished homes above. [30][33] Whether robots lower prices is not yet known. [33]

Zimbabwe's government is pushing people to use its own currency, the ZiG, brought in in April 2024. [39] Zimbabwe's central bank says it is backed by gold and foreign money. [39] Many people still prefer US dollars after past collapses. [39] Charles Mbwandarikwa, a teacher, lost his pension savings in 2009, and in 2018 his pay fell from the equivalent of 540 dollars to 40. [39] He now swaps his ZiG pay quickly. [39]

Why it matters. A currency only works if people expect it to keep its value. [39] Zimbabwe's central bank has dropped its goal of using only the ZiG by 2030. [39]

Money for the BBC's UK services fell 37% between 2010 and 2025 once rising prices are counted, a media expert writes in The Conversation. [38] Licence fee income grew from 3.1 billion to 3.9 billion pounds, but prices rose 55.4%. [38] Rises below inflation, the end of government payment for over-75s' licences, and money moved to other services did the most damage. [38] Licence fee dodging rose from 5.2% to 11.8%. [38]

Why it matters. The BBC's charter, the deal that sets how it is funded, is renewed in January 2028. [38] The UK services that lost the money are the ones licence payers mainly say they pay for. [38]

The government of Jersey, a British island, proposes to freeze fuel duty, the tax on each litre, in its 2027 budget. [37] Duty was frozen from 2023 to 2025 and rose with prices in 2026. [37] Diesel recently topped 2 pounds a litre in Jersey and the UK. [37] A scaffolding firm and a tree surgeon told the BBC rising diesel squeezes their margins. [37]

Why it matters. Businesses say a freeze gives limited relief if world fuel prices keep rising. [37] Some are already adding fuel charges to their prices. [37]