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Trump ‘saddened' to watch Musk ‘go off the rails' after he vowed to launch political party prez says will cause ‘chaos'

Trump ‘saddened' to watch Musk ‘go off the rails' after he vowed to launch political party prez says will cause ‘chaos'

Scottish Sun20 hours ago
DON FIRES BACK Trump 'saddened' to watch Musk 'go off the rails' after he vowed to launch political party prez says will cause 'chaos'
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DONALD Trump says he is "saddened to watch Elon Musk go completely 'off the rails'" after the Tesla CEO announced he would launch a new political party on Friday.
The US president slammed Musk's new 'America Party', arguing third political parties never succeed in the US and only create "complete and total disruption and chaos".
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It comes after Musk cited a poll in which he asked whether respondents 'want independence from the two-party (some would say uniparty) system' that has dominated US politics for two centuries.
More to follow... For the latest news on this story, keep checking back at The U.S. Sun, your go-to destination for the best celebrity news, sports news, real-life stories, jaw-dropping pictures, and must-see videos.
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Warning for 31million bank customers losing more than £350 a year for leaving cash in zombie accounts
Warning for 31million bank customers losing more than £350 a year for leaving cash in zombie accounts

Scottish Sun

time27 minutes ago

  • Scottish Sun

Warning for 31million bank customers losing more than £350 a year for leaving cash in zombie accounts

We've explained how to find the top rates CASH BLOW Warning for 31million bank customers losing more than £350 a year for leaving cash in zombie accounts Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MILLIONS of Brits are losing out on hundreds of pounds each by keeping their savings in low-interest "zombie" accounts. More than 31million bank customers have £186billion in savings accounts earning just 1.5% interest, according to Paragon Bank's app Spring. Sign up for Scottish Sun newsletter Sign up 1 To help you get the best returns, we've listed the top savings rates below These accounts generate £2.3billion a year in interest, but savers could earn over three times more by switching to accounts offering up to 5% interest, The Sun can reveal. The average bank customer has around £10,000 in savings, according to Raisin. If that £10,000 is kept in an easy access account earning 1.5% interest, it would generate just £150 in interest each year. But switching to Chase's 5% easy access account would boost that to £500, earning you an extra £350. Experts specifically warn that using savings linked to current accounts often means low rates, restrictions, and losing value to inflation. Derek Sprawling, managing director of Spring, said: "Too many savers are leaving their money with their current account provider's linked savings accounts. "Simply sticking with a savings account offered by their current account provider often means an array of restrictions, such as tiered rates or withdrawal limits, on top of poor rates. "There are other options for savers, it is possible to get a rewarding rate of return without sacrificing access to their money or wading through a host of restrictive terms and conditions." If your savings account pays less than the current inflation rate of 3.4%, it's time to look for a better deal. Plus, the Bank of England is expected to cut its base rate soon, which could make savings rates even lower. The base rate affects how much banks pay savers - when it drops, interest on savings usually goes down too. Financial markets expect the Bank to reduce rates at its next meeting in August, and again to 3.75% before the end of the year. How this affects your savings depends on the type of account you have. Fixed-rate accounts won't change, but easy-access accounts can see their rates drop at any time. What types of savings accounts are available? THERE are four types of savings accounts: fixed, notice, easy access, and regular savers. Separately, there are ISAs or individual savings accounts which allow individuals to save up to £20,000 a year tax-free. But we've rounded up the main types of conventional savings accounts below. FIXED-RATE A fixed-rate savings account or fixed-rate bond offers some of the highest interest rates but comes at the cost of being unable to withdraw your cash within the agreed term. This means that your money is locked in, so even if interest rates increase you are unable to move your money and switch to a better account. Some providers give the option to withdraw, but it comes with a hefty fee. NOTICE Notice accounts offer slightly lower rates in exchange for more flexibility when accessing your cash. These accounts don't lock your cash away for as long as a typical fixed bond account. You'll need to give advance notice to your bank - up to 180 days in some cases - before you can make a withdrawal or you'll lose the interest. EASY-ACCESS An easy-access account does what it says on the tin and usually allows unlimited cash withdrawals. These accounts tend to offer lower returns, but they are a good option if you want the freedom to move your money without being charged a penalty fee. REGULAR SAVER These accounts pay some of the best returns as long as you pay in a set amount each month. You'll usually need to hold a current account with providers to access the best rates. However, if you have a lot of money to save, these accounts often come with monthly deposit limits. To help you get the best returns, we've listed the top savings rates for each account type below. What's on offer? If you're looking for a savings account without withdrawal limitations, then you'll want to opt for an easy-access saver. These do what they say on the tin and usually allow for unlimited cash withdrawals. The best easy access savings account available is from Atom Bank, which pays 5% - and you only need to pay a minimum of £1 to set it up. This means that if you were to save £1,000 in this account, you would earn £50 a year in interest. 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I'm a super-saver who pockets £600 a MONTH with easy cost-cutting hacks… it's amazing what people will give you for free
I'm a super-saver who pockets £600 a MONTH with easy cost-cutting hacks… it's amazing what people will give you for free

Scottish Sun

timean hour ago

  • Scottish Sun

I'm a super-saver who pockets £600 a MONTH with easy cost-cutting hacks… it's amazing what people will give you for free

Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A SUPER scrimper manages to save herself £600 a month with her savvy lifestyle. To maintain her tight budget, she grows 85% of the food she eats, and even furnished her entire home for free. Sign up for Scottish Sun newsletter Sign up 4 Sharon Shaw, 58, sells the eggs from her chickens to put towards other essentials Credit: SWNS 4 She grows food in her allotment to cut down on outgoing costs Credit: SWNS 4 Sharon uses an old-fashioned floor cleaner to cut down on electricity bills Credit: SWNS 4 Her bills come to just over £300 a month Credit: SWNS Sharon Shaw, 58 is proud to have cut her expenses to just over £300 a month. It's part of a lifestyle that means not spending money on anything that isn't essential. This included furnishing her home in Chorley, Lancashire, for free using Facebook Marketplace. She even bagged herself a TV, sofa and king-sized bed worth £400. She bought her four-bedroom home for just £21,500 in 1987, and paid off the mortgage in 2015. The currently-unemployed mum-of-four has managed to cut her expenses to just £300 a month. This includes £118 for gas, electric and water bills, while she spends just £40 on food she hasn't grown or got for free on the Olio app, as she otherwise shops in the reduced section. She said: "I don't buy anything - everything is mostly free in my home. "I use sites like Facebook Marketplace and food apps like Olio, which have changed my life. It's amazing, and you'd be surprised what you can get for free. To cut down on food costs, she grows most of her own produce in an allotment, doesn't buy takeaways, and gets any remaining essentials from the reduced section. Free data roaming abroad and HUGE council tax bill reductions The allotment includes potatoes, plums, pears and apples, leaving her with "plenty of food". She also has 10 hens which she collects eggs from, some of which she sells to put towards sugar and tea. She said: "I make money from selling my eggs, and use the change to get small essentials like sugar and tea or my partner will drop sugar and tea bags round mine. She added: "All the furniture in my home is free from Facebook Marketplace - including my bed, bedside table, and mirror." Her savvy habits developed after she grew up in a family without much money. Sharon adopted her mum Jean's mantra: "if you don't have it, make it", passing the Brownies group leader's message to her own children. However, she said Philip, 37, Daniel, 33, Alex, 27, and Anna, 23, aren't a fan of her frugal lifestyle. Sharon said: "They can't really understand it and they think I'm silly. "I've tried to get them into my lifestyle, but they aren't. "For Christmas and birthdays, I make all the cards and some of their presents. "They do roll their eyes when they see that something has been made. I don't feel guilty at all, it is still a present." Her inspiration also comes from The Good Life, a 1980s comedy in which the couple Tom and Barbara Good are self-sufficient. She said that her partner Terry, 73, also struggles to adapt to the lifestyle. "He thinks I'm mad. He can still see the logic in why I have to do what I do, but most of the time, he thinks it's a load of rubbish," she said. Terry does help out with decorating the house, saving her even more money. However, she's still looking for someone to re-tile her bathroom, which she's hoping to do for as cheap as possible. She said: "If I need anything, I'll look online to see if anyone will give it to me for free. "My house is furnished entirely from being resourceful - all the furniture in my rooms is either from free sites, given to me, or handmade." Household bills are a somewhat unavoidable expense, although Sharon has found ways to cut down on these. To save money on electricity she has swapped out her hoover for an old-fashioned Ewbank carpet sweeper; while she cuts down on heating costs by using blankets. After Sharon's dad Frank, 85, passed away in April of this year she inherited three of his classic cars - a Citroen C1, Citroen ZX and Citroen CV2 - all worth £21,000 which she has kept for their sentimental value. She also has a bike for shorter journeys. Overall, she said her motto is "if you don't ask, you don't get", saying she has "no shame about asking for freebies". Ultimately, "It's all about being resourceful. People waste so much money that it amazes me." In addition to second-hand furniture, she gets most of her clothes from her daughter or for free on Facebook Marketplace. She just wants to educate others on saving money as she is "proud" of her ways.

Tesla stocks tumble as Musk forms new political party
Tesla stocks tumble as Musk forms new political party

Daily Mail​

time2 hours ago

  • Daily Mail​

Tesla stocks tumble as Musk forms new political party

Tesla stock is tumbling — and investors are blaming Elon Musk's latest foray into American politics. Shares in the EV maker slid as much as 7 percent in Monday's pre-market trading, just days after Musk revealed he's launching a new political party, the 'America Party,' and reigniting his feud with former boss President Donald Trump. 'Investors are worried about two things,' Neil Wilson, a UK investor strategist at Saxo Markets, said. 'One is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk.' The Tesla CEO, who once led Trump's Department of Government Efficiency, called out the administration again over its recently-passed 'One Big, Beautiful Bill.' Musk has critiziced the sweeping package for its projected $5 trillion price tag, that is likely to massively increase the federal deficit. He said it is in response to the recently-signed 'One Big, Beautiful Bill,' which is expected to add an estimated $3 trillion to $5 trillion to the federal deficit. 'What the heck was the point of DOGE if he's just going to increase the debt by $5 trillion,' Musk posted on X. President Trump fired back at his former advisor on his own platform, Truth Social. 'I am saddened to watch Elon Musk go completely "off the rails," essentially becoming a TRAIN WRECK over the past five weeks,' the President wrote. Until recently, Musk had promised to retreat from politics and refocus on Tesla. That pledge sent shares soaring in May, with investors hopeful the company could finally stabilize after months of slumping EV sales and missed product deadlines. This is an important year for Tesla. Automotive industry analysts have been worried about EV sales because the Republican bill ends the tax credit handed to EV consumers. Meanwhile, the company is rolling out its long-delayed self-driving technology, with the first autonomous vehicles reaching Texas roads in late June. But investors have watched as tensions between Trump and Musk, two men who forged an improbable political coalition in the 2024 Presidential election, cratered that once sky-high stock price. In late June, Musk said the Republican tax bill would send the country into 'DEBT SLAVERY,' and vowed to bankroll primary challenges against Trump-endorsed candidates . At the time, Trump hit back with a series of threats , suggesting the federal government could launch investigations into Musk's companies. He even hinted at deporting Musk, who was born in South Africa. That clash sent Tesla's stock on a similar downward trajectory. Monday's market drop mirrors the fallout from that earlier spat , with shares ultimately ending that day down more than 5 percent. Still, some analysts aren't concerned. They believe investors have gotten used to this type of price fluctuation.

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