BUSINESS LIVE: Crest Nicholson sees profits drop; Wise triples profits; Fuller is happy; The Fed is keeping US interest rates steady

More than 185,000 Lifetime Isa savers have been fined for withdrawing their own money, a Freedom of Information request has revealed.

And the share of account holders who are fined for making these ‘unauthorized withdrawals’ has more than doubled in just three years, according to the request from mortgage provider MPowered.

When Britain entered its first Covid lockdown, many believed that WFH was a temporary measure – and that normal working habits would resume after the pandemic.

But more than two years after the last restrictions were lifted in Britain, and after bosses repeatedly asked workers to return to officers, people continue to work remotely.

Crest Nicholson warned full-year profits would fall by around a third and reported an 88 per cent drop in half-year profits on Thursday amid sluggish demand in the sector.

The FTSE 250-listed company cut its shareholder dividend by 82 percent and said trading momentum has ‘weakened slightly’ since Easter, as UK businesses and consumers await the next move from the Bank of England’s Monetary Policy Committee next week about interest rates.

High Street favorite Marks and Spencer rose after HSBC encouraged customers to buy the shares again.

The bank said the progress M&S is making is ‘too good to ignore’ as its popularity and appeal soar.

The US Federal Reserve held interest rates again last night and indicated that it would make only one cut this year.

But better-than-expected inflation data earlier in the day calmed investor nerves and helped both the S&P 500 and Nasdaq post more gains.

Richard Hunter of Interactive Investor said: “Investors appear to be comfortable with the new order. While the Dow Jones fell slightly after a choppy trading session, the S&P500 and Nasdaq rose to hit new all-time highs.

The release of the Consumer Price Index for May showed unchanged levels, year-on-year to 3.3 percent, both better than expected increases of 0.1 percent and 3.4 percent respectively, and also a step in the right direction compared to compared to 0.3 percent in April. percent increase and 3.4 percent figure. Moreover, core inflation, excluding volatile energy and food prices, was also lower than estimated.

“The baton will now be passed to the producer price index and weekly unemployment claims data later today.”

Apple has surpassed Microsoft to become the world’s most valuable company, as investors cheered its plans to use artificial intelligence (AI).

On Wall Street, shares of the iPhone maker rose more than 5% to a record high above $218, giving it a value of more than $3.3 trillion, or £2.6 trillion.

Elon Musk’s future as Tesla CEO is at stake as the electric car company’s shareholders vote on his £44 billion pay deal.

Tensions have increased after a Delaware court annulled his compensation package, ruling it was improperly set by the board.

Two of the richest men in the world have acquired shares in the London stock market.

In moves that will raise eyebrows in boardrooms across the city, Mexican billionaire Carlos Slim bought more than 3 percent of BT, while US activist Nelson Peltz took a major stake in Rentokil.

Digital bank Starling said it is eyeing a London stock market listing after it showed profits up 55 percent.

Interim boss John Mountain said the lender’s board is in regular discussions with investors about an initial public offering (IPO).

The pound at 8am was $1.2776, up from $1.2841 at the previous close.