Money blog: Budget airline launches annual subscription service; Tesla sales tank in Europe (2025)

Budget airline Ryanair is launching an annual subscription to offer members discounted fares and other benefits.

The "Prime" service will cost £79 a year and will give customers access to reserved seating, travel insurance and monthly seat sales.

They will also be able to book an unlimited number of flights at cheaper rates.

However, the subscription is limited to 250,000 people on a first-come, first-served basis.

Ryanair says it will save members who fly 12 times a year up to £420, while those who only fly three times will save £105.

Passengers who sign up must be at least 18 years old, and is only being offered to those living in Austria, Belgium, France, Germany, Greece, Italy, Ireland, Netherlands, UK, Poland, Portugal and Spain.

It comes after Wizz Air last year launched a similar service that locked in the price of one flight per month for a set fee, and included bags and priority boarding.

The Duchess of Sussex has said she will launch a new podcast promising "girl talk" and advice on how to create "billion-dollar businesses".

Confessions Of A Female Founder follows Meghan's work on her As Ever brand, which will shortly begin selling jam, herbal teas, flower sprinkles and ready-make crepe mix.

She tells one guest in thetrailer to think of the experience as being in a "dolphin tank" rather than a "shark tank".

She asks another whether she is single now, talks about the "laser focus" needed in business, and finishes her voiceover with: "Let's do this, ladies."

She describes it as "a show where I chat with female entrepreneurs and friends about the sleepless nights, the lessons learned and the laser focus that got them to where they are today".

"We're diving into the highs and the lows and the kind of advice that turns small ideas into billion-dollar businesses and of course, we're gonna get some girl talk," she says.

Supermarket giant Morrisons is closing 17 stores and dozens of its cafes in a major shake-up of operations.

It will also shut a number of in-store services, such as meat and fish counters, pharmacies and market kitchens.

Some 365 employees are at risk of redundancy, but most of them will be redeployed to other stores, Morrisons said.

The moves are being made in an attempt to redirect cash to other parts of the business, and the cuts are expected over the next few months.

In total, 52 cafes, 13 florists, 35 meat counters, 35 fish counters, four pharmacies and all 18 market kitchens will be shut down.

Here's a list of the 17 stores that are closing down for good:

• Gorleston Lowestoft Road

• Peebles 3-5 Old Town

• Shenfield 214 Hutton Road

• Poole Waterloo Estate

• Tonbridge Higham Lane Est

• Romsey The Cornmarket

• Stewarton Lainshaw Street

• Selsdon Featherbed Lane

• Haxby Village

• Great Barr Queslett Road

• Whickham Oakfield Road

• Worle

• Goring-By-Sea Strand Para

• Woking Westfield Road

• Wokingham 40 Peach Street

• Exeter 51 Sidwell Street

• Bath Moorland Road

By James Sillars, business and economics reporter

Contrasting fortunes for two consumer-facing companies today.

The owner of B&Q and Screwfix has suffered a big share price decline at the market open.

Kingfisher was down almost 12% - wiping out all its gains in the year to date - after reporting a drop in annual profits.

The home improvement group, which also operates the Castorama brand on the continent, blamed soft demand for big ticket items such as furniture and kitchens.

It was leading the fallers on the FTSE 100.

The index, however, was 0.4% higher at 8,672.

Housebuilders were among those leading the charge after Bellway updated the market with half-year figures.

Profits rose 12% in the six months to the end of January.

It credited lower mortgage rates for helping to stoke consumer confidence.

The company's shares were 3% higher.

Co-op is launching an Aldi price match scheme for the first time in the latest sign of intensifying supermarket competition.

The programme is the biggest of its kind in convenience stores, with the prices of more than 100 items reduced - but it will only be available to Co-op members.

Everyday essentials such as fresh fruit, vegetables, meat, dairy products and chicken will all be included in the campaign.

All 2,400 Co-op stores will be offering the new price commitment, which will also be available on online platforms such as Deliveroo and Uber Eats.

"I am very clear that, in this current economic climate, price is most often the deciding food shopping factor for our members and customers," saidMatt Hood, managing director for Co-op.

"Price has often been perceived as the Achilles' heel of convenience shopping, but this new, long-term initiative will change that and show there is no compromise in value, quality, or range to shopping conveniently."

The retailer has six million active members and has seen the highest influx of member-owners in seven years.

Anyone can join and become a member-owner for £1, which pays for a share in Co-op.

Tesco has recently slashed the number of products included in its Aldi price match campaign from 790 as of August 2024 to 645 last month.

Asda has also scrapped its own Aldi and Lidl price match initiative after 12 months as it focuses on its own "great prices" rather than those of its competitors.

Our business presenter Ian King has taken a closer look at the intensifying supermarket price war...

Every Tuesday we get an expert to answer your Money Problems. You canWhatsApp us yourshereor email moneyblog@sky.uk.Today, we are tackling this issue sent to us by Sarah from Hornsey:

I am organising a hen-do for six people - we are going to Budapest in a couple of weeks and everyone was due to pay the balance of just under £350 for accommodation and various things we've got planned next week. Last weekend, one of the six has just dropped out - meaning we're all going to have to pay £70 more. Some of the group really won't be able to afford this but the dropout hasn't offered to pay anything. Do I ask her to, do I make everyone pay and risk more dropouts or do I take the hit myself?

We gave this one to ourMoney live reporter Jess Sharp...

Speaking from my own experiences of hen-dos, paying the difference isn't the solution, and instead you should ask the dropout to at least offer some money towards the cost.

We asked our readers in a poll whether they thought people who cancel late should still have to pay and the majority of them agreed...

Here's what some of them had to say...

"It depends on the reason for having to drop out. Some things are unavoidable."
Leslie McGregor

"Depends on how last minute and why they are dropping out. Genuine emergencies? Fair enough, but backing out last second 'cause they changed their mind. That's a different story."

Andrew Morley

Having the conversation about paying might be difficult, but there are some techniques you can try to make it easier.

I'd say it's best to have the conversation in person or over the phone if you can - a text might come across a bit abrasive.

Advice firm MoneyHelper suggests putting emotions to one side when having these conversations - getting angry or upset isn't going to help.

If you start to get upset, maybe pause the conversation for a moment, either step out of the room or politely excuse yourself from the phone call, and then return a few minutes later.

It's possible that your friend is going to feel differently to you, so make sure you give her space to talk and respond to what you are saying. Interrupting her risks turning the conversation into an argument.

MoneyHelper also says you should also avoid being judgemental.

I'm not sure why your friend has dropped out, but you should try to avoid accusatory language when you bring up the costs with her, so don't start a sentence with "you did" or "you said" and think about your facial expressions when she answers.

It might be better to start with "I think" or "I feel" to show that this is an issue, but you would like to resolve it and you are not placing any blame.

If she agrees to pay all of the cost, then great. If not, maybe she could cover part of it and the other invitees might be willing to chip in to pay the rest.

If you have the funds to cover her costs - and by that I mean you have the money spare and are not putting yourself into any financial difficulty - another option could be to pay her part and set up a payment plan for her to give the money back to you.

My friends and I have used this method before over the space of three months or so to make sure we've all been able to enjoy an event together.

It's also important to realise you aren't the only one experiencing this tough situation - the average hen and stag-do group drops by around 20% after bookings, according to the guys at planning apps GoHen and StagWeb.

I thought it might help to speak to an expert in etiquette as well, so I got the opinion of Liz Wyse from Debretts, a professional coaching company that focuses on etiquette and behaviour.

Wyse was quite firm with her advice - "under no circumstances" should you be responsible for the extra cost.

"The person who has dropped out of the hen-do may have a good reason for cancelling, but she is doing so at very short notice," she said.

"Group bookings are predicated on a certain number of people committing to the arrangement, and thereby arriving at a fixed cost, and her cancellation will obviously have an unanticipated impact on the overall cost for everyone else."

Wyse felt that you would be "quite in your rights" to politely explain that the cancellation would have an impact on the other participants.

She said one option could be to suggest the dropout pays half of the remaining balance - but this should be if you think an extra £175 is "sustainable" for all invitees.

"If you feel that she has a really valid reason for dropping out, or if you feel you must seek a compromise, you could suggest that she pays 50% of the balance, and explain to her that this would ensure that her cancellation does not mean that other participants are also forced to drop out," Wyse said.

"As a general rule, in a situation where there is a group agreement to share the cost of a social event and an understanding that this money must be paid in advance, the person who drops out of the arrangement should take responsibility for their share of the cost.

"A social arrangement like this is a commitment, which involves other people (not least the bride to be), and should never be made (or cancelled) lightly," she added.

How can this problem be avoided next time?

Of course, the perfect situation would have been for there to be no dropouts - but this could have been made easier if some parameters had been put in place at the beginning.

It's worth making clear to invitees at the point of putting plans together that they will need to pay if they drop out at the last minute - this will help them to really think about the commitment, weeding out any of the potential liabilities early on.

Asking for a deposit is also an option. That way, the organiser knows that if anyone does cancel, they will at least have some funds to cover the cost.

While not always a viable, if people have the funds, it can be beneficial to ask them to pay the full amount of the hen do up front.

It might cause you less stress and hassle to use a dedicated planning app too.

GoHen and StagWeb allow organisers to book accommodation and activities in one place and then the invitees pay the service directly, so you don't have to chase them for the money yourself.

Do you agree with this advice? How would you handle it differently? Let us know in the comment box

Tesla's woes have made headlines repeatedly in recent months as Elon Musk's outsized influence in US politics and support of Donald Trump dent sales.

We've had the latest figures for sales in Europe through - and they add to the dismal outlook for the brand.

Tesla sold less than 17,000 cars in 25 EU markets, the UK, Norway and Switzerland in February - down from more than 28,000 in the same month last year, according to the European Automobile Manufacturers Association.

Its electric vehicle market share has also fallen to 10.3% - down from 21.6% this time last year.

Market data by research platform JATO Dynamics shows Tesla sales on the continent have fallen behind Volkswagen and the BMW group.

Volkswagen's electric vehicle sales were up 180% to around 20,000 cars, while the BMW brand and BMW-owned Mini combined sold almost 19,000 in February.

The Tesla brand has become the focal point for protests over Musk's role in cutting US government spending and his position in Trump's administration.

Musk's recent antics, such as making a gesture on stage that some interpreted as a Nazi salute and wielding a chainsaw on stage at a political conference, have also led to public scrutiny.

In response, Tesla has faced protests and vandalism across the US at its charging points and showrooms, with one dealership in Colorado being graffitied with the word Nazi.

This month, Trump displayed his support for the brand by saying he had bought a Tesla, which he called "Elon's baby".

Watch: Trump poses with Tesla

Arrears on household bills have surged by 25% among those seeking debt advice, a charity has found.

The StepChange debt charity said its average client was £3,911 in arrears on household bills, up from £3,124 in 2023.

Overall, the average amount of debt for each StepChange client jumped up by 7% - from £16,706 in 2023 to £17,936 last year.

Meanwhile, mortgage arrears saw the most dramatic rise, soaring by 69% - from £6,054 in 2023 to £10,239 in 2024.

Energy arrears have risen by 28% year on year, with a 58% jump since 2022, from £1,485 to £2,340 last year.

Council tax arrears have increased by 14% in the last year to £1,972.

StepChange said fewer clients were now saying the cost of living is their main reason for debt. Many people have struggled to rebuild financial stability after "years of economic turmoil", the charity added.

Ahead of the spring statement, Money took a look at every household bill that will be rising in April - and how you could potentially beat the hikes.

Ed Sheeran has written to the government and appealed personally to the prime minister, saying schools need more money for music and pushing for immediate, long-term funding.

Elton John, Coldplay, Harry Styles, Stormzy, Paloma Faith and rapper Central Cee are among the artists backing the same appeal from the Ed Sheeran Foundation for £250m in funding for music education.

"We are writing collectively as artists, civil society and industry, appealing to your personal belief in music and the promise of opportunity for all under Labour," the letter reads.

"Learning an instrument and getting up on stage - whether in school or a community club - is now a luxury not every child can afford."

Last year, before becoming prime minister, Starmer told Classic FM he "passionately" wanted to undo the "degrading" of music and the creative arts in state schools.

The prime minister played the flute, piano and violin himself as a child.

Sheeran and the other artists are calling for a £250m UK music education package this spring to repair "decades of dismantling music", citing a 2019 report from the British Phonographic Industry group that found there had been a 21% decrease in music provision over five years in state schools.

Luxury department store Fortnum & Mason is launching a rapid delivery service that will be available any time of day or night via the Zapp app.

It's the retailer's first step into the booming on-demand delivery industry, but given some of its products retail at up to £1,000, it offers a much more expensive alternative to many delivery options and targets different customers.

From loose-leaf tea to biscuit selections and luxury hampers, customers will be able to order groceries directly to their door. The launch comes after the company saw a sharp rise in sales over the Christmas period.

Liz Darran, its chief brand officer, said partnering with Zapp would ensure "customers can enjoy their favourite Fortnum's treats whenever they wish, delivered in minutes, 24/7".