Money blog: Dollar weakens as Trump threat fails to materialise; Aldi loses trademark war (2025)

Spain has proposed banning non-EU residents - including Britons - from buying properties in the country.

Prime Minister Pedro Sanchez announced the plan at a political rally, in what is the latest in a series of measures he wants to tackle rising property prices and limited supply.

Spain's Central Bank recently estimated that there could be a shortage of half a million houses across the country by the end of this year.

Speaking to supporters on Sunday, Sanchez said his government "proposes to ban these non-EU foreigners who are not residents, and their relatives, from buying houses in our country since they only do so to speculate".

Last week Sanchez said Spain could introduce an "unprecedented" tax of up to 100% on properties brought by people outside the EU:

By James Sillars, business and economics reporter

Two events are dominating the agenda.

The first is the return of Donald Trump and reaction to the swathes of executive orders and actions he has already signed since becoming US president for the second time.

The dollar weakened from its lofty position of power, after he failed to impose immediate trade tariffs on US imports, with the pound among those to benefit.

Sterling gained under a cent yesterday evening but much of that recovery was lost early this morning, with the pound trading at $1.22.

Further shifts, either way, are possible given that more big announcements are likely on Trump's first full day back in the White House.

US stocks saw tentative gains and the FTSE 100 was in a similar cautious mood at the open as the index rose by just 2 points to 8,524.

The other big focus for markets this morning was the UK employment data, given shifting bets on whether the Bank of England is likely to cut interest rates next month.

Analysts said they were looking beyond rising wage growth and putting more bets behind a rate cut due to evidence of rising unemployment amid the slowing economy.

LSEG data showed an 84% probability of a rate cut on 6 February.

Wages rose at an annual rate of 5.6% in the three months to November - up from 5.2% in the October, the latest Office for National Statistics data shows.

Both basic pay excluding bonuses, and average weekly earnings rose by the same amount, outstripping Consumer Prices Index inflation by 3.4%.

But the number of people unemployed across the country has also unexpectedly risen.

The ONS said the rate of unemployment increased to 4.4% in the three months to November, up from 4.3% in the three months to October.

The number of payrolled employees was estimated to have tumbled by 47,000 during December to 30.3 million - the biggest drop since November 2020.

It follows a revised 32,000 fall the previous month.

The employment figures were the first to take in possible early reaction to the budget, and may suggest some employers were eager to retain staff through pay awards while others sought to cut costs...

Thatchers has won a Court of Appeal trademark battle against Aldi over its cloudy lemon cider.

The brewer sued the budget supermarket, claiming that Aldi's Taurus brand had copied its product.

Initially, the case was dismissed by the High Court, but the Somerset-based company took it to the Court of Appeal in December.

In a 40-page ruling, Lord Justice Arnold said Aldi had infringed the trademark with the graphics on the cans and on the cardboard four-can pack of the product.

"This can only have been in order to convey the message that the Aldi product was like the Thatchers product, only cheaper," he said.

"To that extent, Aldi intended to take advantage of the reputation of the trademark in order to assist it to sell the Aldi product. "

He added the fact that "Aldi did not intend consumers to be deceived, or even confused, as to the trade origin of the Aldi product does not detract from this".

Aldi said it was "disappointed" by the decision, and intended to appeal.

Martin Thatcher, fourth generation cider maker at Thatchers Cider, said: "This is a victory not just for our family business, but for all businesses whose innovation is stifled by copycats."

He added that they were "thrilled" the court had "got to the core of the issue and cleared up any cloudy judgment".

Every Tuesday we get an expert to answer your financial problems or consumer disputes.WhatsApp ushereor email moneyblog@sky.uk.Today's problem is...

My daughter is a student and her landlord is not returning her deposit for the accommodation she rented until September. She has emailed them several times and called.

Daka

We called in Money regular Scott Dixon, AKA The Complaints Resolver, for help with this one.

To kick this off, it's worth noting a landlord is entitled to make reasonable deductions to remedy proven damage.

"They ought to provide quotes in writing from reputable firms to evidence the amount and be specific and fair," says Dixon.

Tenants should take photos upon moving in - then leave the property spotlessand, again, take pictures.

When disputes arise, Dixon says, the Landlord Register is the first starting point for action in Scotland, Wales and Northern Ireland - it doesn't cover England though.

Throughout the UK, landlords must place deposits in a tenancy deposit protection scheme.

Dixon says that once your landlord has received your deposit, they have 30 days to tell you - among other things -the name and contact details of the tenancy deposit protection (TDP) scheme and dispute resolution service,why they would keep some or all the deposit,how to apply to get the deposit back,what to do if you cannot get hold of the landlord at the end of the tenancy andwhat to do if there is a dispute over the deposit.

The timelines in Northern Ireland are slightly different - the landlord has 28 days to put the deposit in a scheme and 35 days to tell you the information.

Has your daughter's landlord complied with this?

You can check with the schemes yourself...

England and Wales

• www.depositprotection.com/im-a-tenant/id-like-some-renting-guidance/where-s-my-deposit/
• www.mydeposits.co.uk/tenant
• www.tenancydepositscheme.com/is-my-deposit-protected/

Scotland

• www.lettingprotectionscotland.com
• www.safedepositsscotland.com
• www.mydepositsscotland.co.uk

Northern Ireland information can be found here.

"Use email or live chat wherever possible as proof of what was discussed for your case," says Dixon.

If your landlord has not protected your deposit, in England and Wales you need to apply to your local county court and complete a Form N208 claim.

"The court fee is £365, but you can claim this back if you win your case," says Dixon. "You do not need a solicitor."

If your landlord has not protected your deposit in Scotland, you need to make a separate application to get your deposit back to theFirst-tier Tribunal (Housing and Property Chamber).

In Northern Ireland, you can go to the Environmental Health Office to report the landlord, and small claims court to try and get your money back.

What could you be entitled to?

"You could win between one and three times the deposit amount if the landlord did not protect your deposit within 30 days of receipt or did not provide written information about the property within 30 days," says Dixon.

"Evidence is key with all disputes. Ensure you have a copy of your tenancy agreement, tenancy deposit searches, correspondence with your landlord including text messages and proof of deposit payment."

You need to demonstrate you've exhausted other measures before going to court.

Dixon says: "Set your case out to the landlord in writing citing any breaches and put them on 14 days' notice to respond.

"If they fail to respond, send screenshots of court papers prepared as a draft and say you will file the court papers within seven working days if they refuse to refund the deposit."

Catch up on the previous Money Problems we've helped solve:

This featureis not intended as financial advice - the aim is to give an overview of the things you should think about.Submit your dilemma or consumer dispute via:

• WhatsApp ushere
• Emailmoneyblog@sky.uk

By Sarah Taaffe-Maguire, business and economics reporter

The UK's benchmark stock index reached another all-time high today, just a trading day after its last record-breaking session.

The FTSE 100 was up 0.18% from open to close, surpassing the last record set on Friday.

It comes as fears of Trump tariffs have yet to materialise.

There was concern President Donald Trump could use his inaugural address to spell out his policies to tax imports. But his speech merely stated he would slap tariffs on imports to the US.

Trump also announced he would establish an external revenue service but did not detail how the service would operate.

Many economists say the world's largest economy imposing tariffs could slow the US economy and cause inflation to rise.

Four new UK billionaires were created last year, taking the country's total to 57, a report by Oxfam has found.

The collective wealth of those billionaires increased by £35m a day to a total of £182bn - that growth is enough to cover Manchester in £10 notes almost one-and-a-half times.

The report, titled Takers Not Makers, said the world was on track to see five trillionaires within a decade.

On average, the wealth of the world's 10 richest people, who are all men, grew by almost $100m a day.

If the 10 men lost 99% of their wealth overnight, they would remain billionaires, the charity said.

Meanwhile, 44% of the world's population lives on less than $6.85 a day, according to the World Bank.

Oxfam has called on the government to support higher taxation on the super-rich, saying it could be used to tackle inequality in the UK and overseas.

The charity's inequality policy lead Anna Marriott said: "The global economic system is broken, wholly unfit for purpose as it enables and perpetuates this explosion of riches, while nearly half of humanity continues to live in poverty."

Inflation unexpectedly fell to 2.5% in December, following two consecutive months of increases.

But how does this affect the cost of groceries, clothing and leisure activities? Use our calculator to find out.

By Sarah Taaffe-Maguire, business and economics reporter

Much of the world will be watching with bated breath to see what Trump does or doesn't announce during his inauguration.

The fact that tariffs - taxes on imported goods - aren't included on the list of executive orders Trump has already actioned has been welcome news for sterling.

The pound hit its highest level in 10 days following the news. It reached $1.2320, still far below the highs of most of the last two years.

This means buying things in dollars is slightly cheaper for Britons than before.

Trump has promised 20% tariffs on goods imported into the US. He hoped they'd kickstart domestic production and grow the US economy but many economists fear they'll make many products more expensive and limit competition which can bring down prices.

Working from home has created a generation who are "not doing proper work", the former boss of Asda has said.

Lord Stuart Rose claimed remote working policies made people less productive, linking it to the "general decline" of the economy.

"We have regressed in this country in terms of working practices, productivity and in terms of the country's wellbeing, I think, by 20 years in the last four," he told BBC's Panorama.

He had previously called for a predominant return to the office in 2022, when he said he is "an unreconstructed get-back-to-work man".

"I think people are more productive in the office, but we have to be flexible. We have to understand some people have particular needs and worries, and concerns and health issues," he said at the time.

Many companies introduced remote working during the COVID pandemic. The number of people working from home more than doubled between late 2019 and early 2022, from 4.7 million to 9.9 million.

The most recent official data showed that 28% of the UK workforce is in hybrid work, 13% of people are fully remote and 44% travel to work.