Business
Dad-of-three turns to Worcester food bank after job loss
BBCA single dad-of-three said he was forced to move in with his parents and rely on a food bank when “things just went downhill quick” after losing his job.
Luke Harborne worked as a roofer up until December but admitted he did not know what he would do if he had no access to Worcester’s food bank.
“I don’t know what would happen, I really don’t,” the 30-year-old said.
“The people here are absolutely brilliant, they’re such lovely people and all of them have a heart of gold to do what they do.”
Mr Harborne had been in shared accommodation in Kingstanding, Birmingham, but when he became unemployed, he fell behind with his rent payments and lived on the streets before his parents in Worcester took him in.
“My mum and dad agreed to let me live back there but I’m just struggling at the minute,” he said.
“It’s very, very tough [providing for three children]. It’s hard to survive off benefits, it really is.”
Mr Harborne said he was even struggling while he was employed.
“I managed to cope with the wages I had coming in but all my money was going on rent and bills,” he said.
“The rest went on food but that didn’t last me until my next payday.
“I need to get myself back in employment and I am actively looking but it’s tough because I have to work around child arrangements so it’s hard to commit to a full-time job.
“You need a really good job, that pays really well just to get a one-bedroom flat. But I will get there. It’s just hard to survive.”
At the food bank, Grahame Lucas said he worked to “turn frowns upside down”.
“It’s a bit corny, I know, but people come here perhaps not feeling the most positive but they walk away with a smile on their face,” he added.
Mr Lucas has been manager of Worcester Foodbank since 2014 and said in that time the charity has “grown out of all recognition”.
“We started out feeding about 3,000 people a year and prior to Covid up to about 9,000 people and now we’re up to 18,000 people,” he said.
“We’re now braced for the autumn rush, when people start getting their energy bills on the doormat. This is by far the busiest period.”
Mr Lucas and his team provide about 250,000 meals annually, at a cost of £500,000.
The service also provides “cooking parcels”, which include herbs and spices, as well as a toiletries hamper too.
“Clients have said to us that we’re lifesavers and without us people have admitted they would be forced to shoplift just to survive,” Mr Lucas said.
Mr Lucas said the charity had served “all age groups” which “goes right through to people who are retired”.
“That group is much less because, what we find, the state pension system works well – whereas the benefits system is still deficient,” he said.
“I think the system is broken.”
The food bank manager said he sympathised with government and described changing the system as an “oil tanker moment” that would be a “long-term project”.
Susan Campbell, deputy warehouse manager at Worcester Foodbank, is responsible for greeting clients.
“The stories are really sad and you want to do more than just give them food,” she said.
“You hear all sorts and you just try to make them feel better about the whole thing.”
She added the numbers coming to them have “got much, much worse” and they were seeing more and more families.
“People tend to assume we’re serving the homeless but it’s just not true,” Ms Campbell said.
“Lots of people that come here are working and they just can’t afford to live.”
A Department for Work and Pensions spokesperson told the BBC it was “determined to tackle the unacceptable rise in food bank dependence”.
They added: “Our child poverty taskforce will publish an ambitious strategy later this year.
“We are also overhauling job centres and reforming the broken welfare system to support people into good, secure jobs, while always protecting those who need it most.”
Business
Trade push: India seeks faster Russian clearances as both sides target $100 bn by 2030; pharma and marine approvals on priority – The Times of India
India has asked Russia to fast-track approvals for Indian exporters –including expedited listing of domestic establishments and quicker registration of marine and pharmaceutical products — as part of a broader push to expand two-way trade, the commerce ministry said on Thursday.Commerce secretary Rajesh Agrawal, currently in Moscow, stressed the need for “confidence-building measures to unlock market access” during discussions with Russian officials at the 26th Meeting of the India-Russia Working Group on Trade and Economic Cooperation, reported ET.“The issues included expedited listing of Indian establishments and a systems-based approach with FSVPS in agriculture, especially marine products and a time-bound pathway in pharmaceuticals covering registration, regulatory reliance and predictable timelines,” the official statement said, quoted ET. FSVPS is Russia’s Federal Service for Veterinary and Phytosanitary Supervision.Agrawal and Russian deputy minister of economic development Vladimir Ilyichev finalised and signed a forward-looking protocol covering multiple sectors aimed at strengthening economic ties. Bilateral trade currently stands at $25 billion, with both sides committed to raising it to $100 billion by 2030.The working group identified opportunities across engineering goods, chemicals and plastics, electronics, pharmaceuticals, agriculture, leather and textiles. It also mapped areas where Indian strengths –including smartphones, motor vehicles, gems and jewellery, organic chemicals, textiles and leather — can support Russia’s trade diversification and de-risking strategy.In services, India encouraged Russian entities to increase procurement of Indian IT-BPM, healthcare, education and creative services. It also pushed for predictable mobility for Indian professionals amid growing labour shortages in Russia.India highlighted its global capability centre (GCC) ecosystem — over 1,700 centres employing nearly 1.9 million professionals — as a ready platform for Russian firms to enhance business continuity, cybersecurity, design, analytics and shared-services support, bolstering supply-chain resilience.The Indian side acknowledged Russia’s interest in concluding a bilateral investment treaty. Both countries also agreed to “explore payments solutions to meet the needs for businesses, especially medium, small and micro enterprises,” the ministry said.The engagement comes ahead of intensified bilateral activity, with Russian President Vladimir Putin scheduled to visit India on December 5 for the Russia-India Forum.
A cyber attack on Jaguar Land Rover (JLR) cost it nearly £200m, the company has announced.
The UK’s largest car manufacturer said it has “made strong progress” in recovering its operations at pace since the attack.
JLR stopped production across its UK factories for five weeks from 1 September after being targeted by hackers a day earlier.
All of the group’s manufacturing sites – including factories in Solihull, West Midlands, and Halewood, Merseyside – restarted operations last month.
JLR has revealed it swung to an underlying loss of £485m over the second quarter of the year as earnings were knocked following a severe cyber attack.
The British luxury carmaker had made a profit before tax and exceptional items of nearly £400m over the same period in 2024.
It also reported a £134m loss for the six months to the end of September, from a £1.1bn profit the prior year.
JLR’s chief executive Adrian Mardell said the company’s financial performance was “impacted by significant challenges, including a cyber incident that stopped our vehicle production in September and the impact of US tariffs”.
The manufacturer revealed costs of £196m relating to the cyber attack.
The cyber attack on Jaguar Land Rover is thought to have been the UK’s most economically damaging hack and is estimated to have cost the country £1.9bn.
Research from the Cyber Monitoring Centre indicates that around 5,000 businesses nationwide have been hit by the fallout.
Its experts analysed the incident’s broad impact across the economy and supply chain to arrive at the figure.
Jaguar Land Rover halted production at its UK factories for five weeks from 1 September after being targeted the previous day.
This disruption led to warnings from suppliers that many faced collapse without rapid trading resumption or financial aid.
Business
Forget Hot Stock Tips: These 2 Money Habits Alone Can Help You Build Wealth Up To Rs 2 Crore
Last Updated:
Many investors focus on equities and the stock market, often overlooking a crucial component that should be part of every investment portfolio
Nitin Kaushik said that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline. (Representative/Shutterstock)
Social media is flooded with ‘quick riches’ advice and flashy stock tips, yet few ever see real results. Wealth creation, experts say, is far simpler than these trends suggest. Cutting through the noise, a chartered accountant has now shared a clear, practical mantra for building wealth, a formula he says works no matter one’s income is, whether it’s Rs 1 lakh or Rs 10 lakh.
Chartered accountant Nitin Kaushik took to X to explain that wealth stems from good habits, not just high returns.
In his post, he wrote, “Two money habits can make you rich quietly, while others stay busy chasing investments.” He believes real wealth is built through calm, consistent actions—small monthly investments, a clear budget, and periodic rebalancing.
According to Nitin Kaushik, the real problem is that most people lack a system. Whether someone earns Rs 100,000 or Rs 10 lakh, money disappears quickly if it isn’t directed with purpose. “Becoming rich doesn’t start with earnings, but with intentions,” he noted, emphasising that wealth depends more on mindset and discipline than on income.
Habit 1: Compound Interest
The first habit Kaushik highlighted is the power of compound interest, which he called “a force of nature.” Kaushik explained that investing Rs 25,000 a month at a 12% annual return can grow to about Rs 20 lakh in five years, but the same habit maintained for 20 years can build roughly Rs 2.4 crore. He advised that one should start as early as possible to let compounding work in thier favour.
Habit 2: Portfolio Rebalancing
The second habit is portfolio rebalancing. This involves adjusting investments periodically to maintain a balance between equity and debt (stocks and bonds).
He explained, “If you initially hold 70 percent equity and 30 percent debt, but as the market rises, the ratio becomes 85:15, rebalancing helps bring it back to the correct level.” Kaushik added, “It’s like pruning a tree. Pruning is not done to harm it, but to make it stronger.”
Kaushik summed up his thoughts in one line: “Compound interest builds wealth, rebalancing preserves it. One rewards your patience, the other secures your growth.” He added that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline, as these are the factors truly within their control.
Why Is It Important To Invest In Debt Funds?
Most people invest in equity funds or the stock market, but debt funds are often overlooked, even though they should be an essential part of every investment portfolio. Debt funds are mutual funds that invest in government bonds, corporate bonds, treasury bills, and other fixed-income securities. In simple terms, these funds lend money to companies or the government and earn income through interest.
The benefits of debt funds include:
- Stable returns and lower risk: Debt funds carry less risk and offer steady, predictable returns, making them a safer option for those wary of stock market volatility.
- Diversification: Debt funds balance a portfolio by providing stable returns when equities fall, maintaining overall balance and stability.
- Liquidity: Many debt funds allow for easy and quick withdrawals, unlike fixed deposits with lock-in periods, making them ideal for sudden cash needs.
- Tax benefits: Long-term debt fund investments (over 3 years) offer indexation benefits, reducing tax burdens and making them more tax-efficient than fixed deposits.
- Protection and opportunities from interest rate fluctuations: Debt funds can provide good returns when interest rates fall, as the value of older high-interest bonds increases, offering opportunities for investors.
- Ideal for new investors: Debt funds are a great entry point for those new to mutual funds, helping build investment habits with less risk.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
November 14, 2025, 17:49 IST
Read More
Keanu Reeves, Alex Winter talk reuniting in Broadway revival and their longtime friendship
Weight-Loss Drug Zepbound Is Being Tested as a Treatment for Long Covid
US’ VF Corp completes $600 mn Dickies sale to Bluestar Alliance
-
Entertainment6 days agoChina unveils￡5.4 bn Fujian, its most advanced aircraft carrier yet
-
Fashion1 week agoBangladesh Bank allows foreign currency-taka swap facility for dealers
-
Tech1 week agoZohran Mamdani Just Inherited the NYPD Surveillance State
-
Tech1 week agoThe AI Data Center Boom Is Warping the US Economy
-
Politics6 days agoIDF lawyers warned of possible Gaza war crimes: US intel findings
-
Business1 week agoBudget tax hikes could see food prices soar, major supermarket boss warns
-
Tech7 days agoThe Government Shutdown Is a Ticking Cybersecurity Time Bomb
-
Entertainment1 week agoMeghan Markle returns to acting in star-studded film: details inside