Latest news with #YahooFinanceUK
Yahoo
27-06-2025
- Business
- Yahoo
Are you worried about rising petrol prices? Yahoo Finance readers have their say
The war in the Middle East has intensified in recent weeks and so have fears about the surging price of oil and its knock-on effect on petrol prices. UK politicians, including the chancellor Rachel Reeves, have expressed concerns about the economic impact of the ongoing crisis and how ordinary consumers may be affected. Read more: Bitcoin price regains ground as Israel-Iran tensions simmer When it comes to surging oil prices, the most immediate impact on UK consumers would be on prices at the pump, Tom Pugh, a partner at consultancy firm RSM UK, told our reporter Vicky McKeever last week. Although oil prices have dropped in the wake of the Iran-Israel ceasefire, fears remain about potential spikes in the future. Read more: UK consumers braced for petrol price hikes At the start of the week, we asked Yahoo Finance UK readers whether they were concerned about the cost of buying petrol due to spiking oil prices linked to the Middle East conflict. We received 275 responses, with 51% of readers expressing fears about the cost of filling up their vehicles, while 38% had no concerns and 11% were undecided on the matter. Read more: Gold prices fall as Trump says US has signed trade truce with China Why BP could still be a target as Shell quashes takeover rumours Bitcoin gains as Trump hints at US-Iran talks next weekSign in to access your portfolio
Yahoo
27-06-2025
- Entertainment
- Yahoo
Whatever happened to NFTs?
In 2021, NFTs were everywhere, from pixelated punks to bored apes, they dominated headlines and drew billions in investment. By 2022, celebrities and brands were all in, buying JPEGs on the Ethereum network and even hyping metaverse real estate. But by June 2025, the hype has all but vanished. Floor prices have collapsed, trading volumes have plunged, and the NFT market is now a shadow of its former self. So, what happened to NFTs? Read more: Crypto live prices Yahoo Finance UK sat down with Nansen Research Analyst Nicolai Sondergaard, to find out whether the market is dead, what lessons were learned, and if NFTs left anything of real value behind. NFTs, or non-fungible tokens, are unique digital assets stored on the blockchain, which signify ownership or authenticity of a specific item. They differ from cryptocurrencies like bitcoin (BTC-USD) in that they are indivisible and irreplaceable. Their uniqueness gave them value, especially in the world of digital art, music, collectibles, and gaming. Read more: Bored Ape Bar – Inside the $100,000 membership exclusive NFT club in London With the NFT boom, a new digital creator economy briefly flourished. Artists tokenised their work. Musicians experimented with fan-owned tracks. Enthusiasts traded memes. What began as a niche use of blockchain technology quickly turned into a global cultural movement, but also a speculative bubble. "Instead of being used for the potential that NFTs still have, they became memeified and, as such, were instruments for speculation," Sondergaard said. "This is the reason why many, to this day, still do not touch NFTs, they only see and remember the people that got rich quick and the ones that got burned." The collapse has been dramatic. According to analysis reported by NFT Evening, around 96% of NFT collections are now considered 'dead', meaning they show no trading activity, sales, or community engagement. For context, only 30% were considered inactive back in 2023, highlighting just how steep the decline has been. New NFT mints continue to fall month after month. As NFT Evening also reports, weekly trading volume on Ethereum-based marketplaces stands at around $90m, a fraction of the multi-billion-dollar peaks seen in 2021–2022. So, what caused the NFT craze to fizzle out so rapidly, and what does it reveal about how investors engage with hype-fueled technologies? According to Nicolai Sondergaard, the downfall wasn't due to a flaw in the underlying tech, but rather how it was used. 'They became memeified… traded for pure speculation. Many were fully unaware of what NFTs could be used for aside from minting a collection of pixels," Sondergaard said. The pattern reflects a broader trend in tech cycles that when the narrative is louder than the utility, markets can inflate quickly, and pop just as fast. Sondergaard said this dynamic created a lasting stigma: a tale of fast money, rug pulls, and disillusioned investors, as many people associate NFTs with overpriced monkey pictures and not with any meaningful utility. However, are any industries quietly using NFT technology today in ways the public might not notice, or has the entire concept has been shelved? Sondergaard pointed to several real-world use cases that continue to grow beneath the surface. For example, some communities like Bytexplorers use NFTs as gated passes to forums and events. 'Usually minting these NFTs is cheap, and ensures that people that are really interested join,' he explained. In real estate, platforms such as Propy enable people to buy property using NFTs, putting legal documents on-chain for transparent and secure transactions. The gaming industry, while still in its infancy with NFTs, is experimenting by granting players ownership of in-game items like skins, a move that reflects the thriving secondary markets for virtual goods in games like Counter-Strike. Additionally, in brand engagement, Adidas ( has leveraged NFTs to offer holders discounts and exclusive merchandise, creating new ways to connect with customers. Meanwhile, the music industry uses NFTs to streamline royalty payments, allowing artists to get paid more transparently while enabling fans to truly own music tracks. 'There are a few different real-world use cases that are still going today,' Sondergaard said. 'These don't make headlines, but they represent the core utility NFTs always had, verifiable, programmable digital ownership.' While Ethereum remains the dominant blockchain for NFTs, activity has shifted. According to a16z's State of Crypto 2024 report, the trend is moving away from high-volume secondary trading and toward 'low-cost social collecting experiences.' Two Ethereum Layer 2 networks, Base, from Coinbase (COIN), and Zora, are now seeing an increase NFT minting activity. Base, in particular, has averaged over one million daily active transacting addresses since late 2024. NFTs, as a market, are unquestionably in decline. But the underlying technology, the concept of unique digital ownership, continues to evolve and embed itself quietly into products and platforms. 'Ultimately,' Sondergaard said, 'when considering NFTs there is a need to distinguish memetic NFTs, which are traded for the pure purpose of profit, and the ones used to facilitate something else.' Read more: Why pension funds are buying bitcoin What we know about Elon Musk's controversial blockchain vision for US How AI could change the internetError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
Are you worried about rising petrol prices due to the Middle East crisis? Have your say
The crisis in the Middle East has further intensified after US president Donald Trump authorised strikes on key Iranian nuclear sites. Oil prices had already been rising in recent weeks as a result of the tensions. On Monday, they surged to a five-month high after Iran signalled it may close the strategically critical Strait of Hormuz in retaliation for the US strikes on its nuclear facilities. Read more: Trump just made the Fed's rate deliberations even more complicated Goldman Sachs has predicted further surges in the coming days. For ordinary consumers, the knock-on effect on petrol prices is under the spotlight. Even before the strikes on Iran, rising fuel prices were expected to cause further headaches for weary consumers, as Yahoo Finance UK's Vicky McKeever reported. Around a fifth of the world's oil consumption flows through the strait of Hormuz, which is the entry and exit point to the Persian Gulf. Any potential disruption to the supply of oil is unlikely to be good news for consumers. Are you concerned about rising petrol prices and what it could mean for your household budget? Have your say and vote in our poll now. Read more: UK consumers braced for petrol price hikes Oil jumps to 5-month high after Iran votes to close Strait of Hormuz Trending tickers: IAG, Novo Nordisk, Shell, Stellantis, LVMH Yahoo Finance UK's poll of the week lets you vote and indicate your strength of feeling on one of the week's hot topics. After the poll closes, we'll publish and analyse the results each Friday, giving readers the chance to see how polarising a topic has become and if their view chimes with other Yahoo UK in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
How next week's spending review could impact your finances
As the government's spending review looms large on the economic horizon next week, speculation about what is set to change is ramping up. Experts from the Institute for Fiscal Studies (IFS) have already said "unavoidable" tough choices are inevitable on 11 June, but it remains to be seen how those might affect the man on the street. The IFS's evaluation, released at the weekend, showed the level of spending on health would dictate whether cuts were made to "unprotected" areas — those outside the NHS, defence and schools. The conversation this week has heavily centred on an incoming increase in defence spending, with prime minister Keir Starmer outlining plans to invest in 12 new military submarines. While many uttered a sigh of relief at the announcement the government would look to revisit its winter fuel allowance decision, general anxiety is setting in about the possible impact of more tax rises, as the government works out what else can be cut or tweaked to fund its plans. Read more: What is the Pension Investment Review? Heavily debated taxes, such as rules around gifting and inheritance tax, could be in the crosshairs. The option of freezing income tax thresholds is also a possible change. "Even though the path looks precarious, the chancellor [Rachel Reeves] remains committed to maintaining stability and prudence with borrowing to avoid a bond market strop out," said Susannah Streeter, head of money and markets, Hargreaves Lansdown. "So, given big cuts [...] would be politically difficult, it is not surprising given the choices in the spending review that speculation is mounting about potential tax rises in the autumn." Rules around workplace pensions and the future of salary sacrifice to save on taxes could be on the block. "This would cut the tax-efficiency of these schemes, which runs the risk of persuading employers to make their pension offering less generous," said Helen Morrissey, Yahoo Finance UK columnist and head of retirement analysis, Hargreaves Lansdown. Read more: Bank of England governor expects interest rates and pay to decrease this year "There has also been discussion about the reinstatement of a pension lifetime allowance, which risks undermining people's confidence and encourage them to pause contributions." As well as the threat of thorny pension tax changes, there are questions around further alterations to dividend tax. "Investors have already seen horrible cuts in the dividend allowance and higher rates introduced, so it would be adding insult to injury," said Sarah Coles, Yahoo Finance UK columnist and head of personal finance, Hargreaves Lansdown. "Given how attractive the UK market is for investors seeking dividends, it would be counter-intuitive to make dividend investing less rewarding given that the government is keen to encourage investment in the UK." Despite the seemingly difficult choices Rachel Reeves faces, there could be one potential saving grace in moving the goalposts, added Streeter. "There is a chance that Reeves might tweak her fiscal reporting rules, as suggested by the International Monetary Fund," she said. "This has the potential to give the chancellor a bit more wiggle room as the government might not be forced to make such frequent spending changes in reaction to changes to the economic outlook, which as we know is currently in a state of flux due to the unpredictability of US trade policy." Read more: Best cash-saving deals to beat inflation UK mortgage approvals drop for third month in a row UK house prices rise in May as higher wages, low unemployment boost marketError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
How next week's spending review could impact your finances
As the government's spending review looms large on the economic horizon next week, speculation about what is set to change is ramping up. Experts from the Institute for Fiscal Studies (IFS) have already said "unavoidable" tough choices are inevitable on 11 June, but it remains to be seen how those might affect the man on the street. The IFS's evaluation, released at the weekend, showed the level of spending on health would dictate whether cuts were made to "unprotected" areas — those outside the NHS, defence and schools. The conversation this week has heavily centred on an incoming increase in defence spending, with prime minister Keir Starmer outlining plans to invest in 12 new military submarines. While many uttered a sigh of relief at the announcement the government would look to revisit its winter fuel allowance decision, general anxiety is setting in about the possible impact of more tax rises, as the government works out what else can be cut or tweaked to fund its plans. Read more: What is the Pension Investment Review? Heavily debated taxes, such as rules around gifting and inheritance tax, could be in the crosshairs. The option of freezing income tax thresholds is also a possible change. "Even though the path looks precarious, the chancellor [Rachel Reeves] remains committed to maintaining stability and prudence with borrowing to avoid a bond market strop out," said Susannah Streeter, head of money and markets, Hargreaves Lansdown. "So, given big cuts [...] would be politically difficult, it is not surprising given the choices in the spending review that speculation is mounting about potential tax rises in the autumn." Rules around workplace pensions and the future of salary sacrifice to save on taxes could be on the block. "This would cut the tax-efficiency of these schemes, which runs the risk of persuading employers to make their pension offering less generous," said Helen Morrissey, Yahoo Finance UK columnist and head of retirement analysis, Hargreaves Lansdown. Read more: Bank of England governor expects interest rates and pay to decrease this year "There has also been discussion about the reinstatement of a pension lifetime allowance, which risks undermining people's confidence and encourage them to pause contributions." As well as the threat of thorny pension tax changes, there are questions around further alterations to dividend tax. "Investors have already seen horrible cuts in the dividend allowance and higher rates introduced, so it would be adding insult to injury," said Sarah Coles, Yahoo Finance UK columnist and head of personal finance, Hargreaves Lansdown. "Given how attractive the UK market is for investors seeking dividends, it would be counter-intuitive to make dividend investing less rewarding given that the government is keen to encourage investment in the UK." Despite the seemingly difficult choices Rachel Reeves faces, there could be one potential saving grace in moving the goalposts, added Streeter. "There is a chance that Reeves might tweak her fiscal reporting rules, as suggested by the International Monetary Fund," she said. "This has the potential to give the chancellor a bit more wiggle room as the government might not be forced to make such frequent spending changes in reaction to changes to the economic outlook, which as we know is currently in a state of flux due to the unpredictability of US trade policy." Read more: Best cash-saving deals to beat inflation UK mortgage approvals drop for third month in a row UK house prices rise in May as higher wages, low unemployment boost marketError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
