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...."The latest IHS survey data showed the amount of cash that households had available to spend fell in April to the greatest extent for two and a half years," he added. "Spending was supported by households eating further into their savings and taking on more debt [which] is clearly unsustainable in the long run". ... [Read full article on BBC ]
Friday 21st of April 2017 09:24:52 AM
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....The FCA is launching its mission statement for this financial year. The 36-page document has considerable focus on personal finances - including plans to protect vulnerable customers, a study of long-term savings, and the completion of compensation for the mis-selling of payment protection insurance (PPI). ... [Read full article on BBC ]
Tuesday 18th of April 2017 09:09:54 AM
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....”. Post has annual revenues of $5bn(£4bn) expects to make annual savings of about £20m a year before the third full year after completion of the deal, from shared administration and infrastructure among other things. ... [Read full article on Guardian ]
Tuesday 18th of April 2017 07:27:27 AM
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.... The idea was to tell the story of Virgin Money, which is backed by Sir Richard Branson. The business started in 1994 when the insurer Norwich Union – her then employer – linked up with Branson’s Virgin Group to launch a savings and pensions product. ... [Read full article on Guardian ]
Thursday 20th of April 2017 04:15:42 PM
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.... With energy it really pays to shop around once a year for a good deal. It’s the easiest big bill to switch and typical savings are in the region of £200 to £300 a year. ... [Read full article on Guardian ]
Thursday 20th of April 2017 05:59:19 AM
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....". AB Sugar had benefited from a rise in sugar prices and "significant savings" achieved as a result of performance improvements, the company said in a statement, leading to a "more acceptable return on investment". ... [Read full article on BBC ]
Wednesday 19th of April 2017 07:00:40 AM
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.... . It said the separation, which would also achieve 50m euros of cost savings, would be completed within 12 months. ... [Read full article on BBC ]
Wednesday 19th of April 2017 07:04:29 AM
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....That should be enough for a couple to build up a pot worth £210,000 by 67, which should be enough to draw down an income of £10,000 a year for the rest of their lives. Tilney’s figures are, if anything, even better: it suggests you need only build savings worth £152,000 to bridge the gap between your state pension and an annual spend of £26,500 a year. ... [Read full article on Guardian ]
Saturday 22nd of April 2017 06:00:06 AM
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....Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Bank of Cyprus launches competitive online savings account paying 1. ... [Read full article on Guardian ]
Thursday 20th of April 2017 01:39:42 PM
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....Darroch said a significant increase in total revenues, which have grown 11% to £9. 6bn in the nine months to March, and cost savings helped it tabsorb the higher programming bill, which pushed total costs up 8% to £8. ... [Read full article on Guardian ]
Thursday 20th of April 2017 11:15:04 AM
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....Reeves, MP for Leeds West, has long campaigned on the issue and wants to introduce her unauthorised overdrafts (cost of credit) bill in the House of Commons on Tuesday. She noted that households were saving less and less, with the savings ratio falling since 2010 to a record low of 3. ... [Read full article on Guardian ]
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. The Bank of Cyprus has launched an online savings account paying 1. ... [Read full article on Guardian ]
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Latest Finance News related to Savings

Bill sets out plan to tackle 'extortionate' UK overdraft fees image
Source : Guardian [Read Article] Sunday 23rd of April 2017 04:51:46 PM
....Reeves, MP for Leeds West, has long campaigned on the issue and wants to introduce her unauthorised overdrafts (cost of credit) bill in the House of Commons on Tuesday. She noted that households were saving less and less, with the savings ratio falling since 2010 to a record low of 3. ...
Put just £40 a week aside to enjoy a happy retirement image
Source : Guardian [Read Article] Saturday 22nd of April 2017 06:00:06 AM
....That should be enough for a couple to build up a pot worth £210,000 by 67, which should be enough to draw down an income of £10,000 a year for the rest of their lives. Tilney’s figures are, if anything, even better: it suggests you need only build savings worth £152,000 to bridge the gap between your state pension and an annual spend of £26,500 a year. ...
Biggest fall in UK retail sales in seven years image
Source : BBC [Read Article] Friday 21st of April 2017 09:24:52 AM
...."The latest IHS survey data showed the amount of cash that households had available to spend fell in April to the greatest extent for two and a half years," he added. "Spending was supported by households eating further into their savings and taking on more debt [which] is clearly unsustainable in the long run". ...
Virgin Money chief: 'I have battled with mental health all my life' image
Source : Guardian [Read Article] Thursday 20th of April 2017 04:15:42 PM
.... The idea was to tell the story of Virgin Money, which is backed by Sir Richard Branson. The business started in 1994 when the insurer Norwich Union – her then employer – linked up with Branson’s Virgin Group to launch a savings and pensions product. ...
Swap flights for trains to Europe this summer, plus the rise of the 'fix-perts' image
....Hello and welcome to this week’s Money Talks – a roundup of the week’s biggest stories and some things you may have missed. Bank of Cyprus launches competitive online savings account paying 1. ...
Bank of Cyprus UK launches competitive online account paying 1.05% image
Source : Guardian [Read Article] Thursday 20th of April 2017 12:15:27 PM
. The Bank of Cyprus has launched an online savings account paying 1. ...
ENERGY PRICE WARNING: Fury as firms hit customers with sneaky £400 HIKES  image
Source : Daily Express [Read Article] Thursday 20th of April 2017 11:36:00 AM
.... . "It’s the easiest big bill to switch and typical savings are in the region of £200 to £300 a year. ...
Sir David Attenborough to become 3D hologram for Sky VR documentary image
Source : Guardian [Read Article] Thursday 20th of April 2017 11:15:04 AM
....Darroch said a significant increase in total revenues, which have grown 11% to £9. 6bn in the nine months to March, and cost savings helped it tabsorb the higher programming bill, which pushed total costs up 8% to £8. ...
UK gas and electricity customers face price rise double whammy image
Source : Guardian [Read Article] Thursday 20th of April 2017 05:59:19 AM
.... With energy it really pays to shop around once a year for a good deal. It’s the easiest big bill to switch and typical savings are in the region of £200 to £300 a year. ...
Dulux owner reports 'record performance' image
Source : BBC [Read Article] Wednesday 19th of April 2017 07:04:29 AM
.... . It said the separation, which would also achieve 50m euros of cost savings, would be completed within 12 months. ...
Primark owner Associated British Foods sees profits jump image
Source : BBC [Read Article] Wednesday 19th of April 2017 07:00:40 AM
....". AB Sugar had benefited from a rise in sugar prices and "significant savings" achieved as a result of performance improvements, the company said in a statement, leading to a "more acceptable return on investment". ...
PENSION CRISIS: Women LAGGING behind in huge pensions gap image
Source : Daily Express [Read Article] Wednesday 19th of April 2017 12:01:00 AM
....They need to start saving all they can as early as possible and resist the temptation to opt out of any workplace pension scheme, as this means they will not benefit from their employer’s contribution, she said. Savers should also regularly review how much they have in their other savings pots, such as tax-free Isas. ...
Financial Conduct Authority concerned over personal debt image
Source : BBC [Read Article] Tuesday 18th of April 2017 09:09:54 AM
....The FCA is launching its mission statement for this financial year. The 36-page document has considerable focus on personal finances - including plans to protect vulnerable customers, a study of long-term savings, and the completion of compensation for the mis-selling of payment protection insurance (PPI). ...
Weetabix sold to US firm after breakfast cereal fails to catch on in China image
....”. Post has annual revenues of $5bn(£4bn) expects to make annual savings of about £20m a year before the third full year after completion of the deal, from shared administration and infrastructure among other things. ...
Should you resist Lisa … out to lure you into saving for a property or retirement? image
....You know you should save for retirement, and since the introduction of the Lifetime Isa there are more options than ever. Launched on 6 April the “Lisa” is similar to any other Isa, working as a tax-free wrapper around savings, and is available to everybody between 18 and 40. ...
Walking dead image
Source : BBC [Read Article] Sunday 16th of April 2017 08:34:11 AM
Ford wheels out range of online savings accounts image
Source : Guardian [Read Article] Saturday 15th of April 2017 06:00:17 AM
. Ford has motored into the UK savings market with a range of customer accounts. ...
Care home fees image
Source : BBC [Read Article] Saturday 15th of April 2017 12:03:01 AM
....There is financial help from local authorities, but it is strictly means-tested. You only qualify if your home, savings and investments are together worth less than £23,250. ...
Five pension tax mistakes that could hit YOUR nest egg image
Source : Daily Express [Read Article] Friday 14th of April 2017 06:01:00 AM
.... Fidelity International’s head of pensions policy, Richard Parkin, said: "It’s clear that the rush to get cash out is having people pay more tax than they need to. “Before accessing pension savings people should consider whether they really need the money. ...
Can I use my help-to-buy Isa to buy a property with my brother? image
Source : Guardian [Read Article] Thursday 13th of April 2017 06:00:19 AM
.... PJ. A It is a key requirement of the help-to-buy Isa that to qualify for the 25% bonus that the government adds to your Isa savings when you buy a property, you must live in it. ...
What is the cheapest way to send money overseas? How to transfer money abroad image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 04:55:00 PM
....Simply nominate a destination account, amount of foreign currency and payment date and your broker will make the transfer on time, utilising the best exchange rates they can offer. Additionally, some brokers don’t charge transfer fees, adding to the savings you’ll be able to make compared to using a bank. ...
Millions of Britons say property is their pension - but fifth yet to buy image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 04:32:00 PM
.... "The majority of Generation X find themselves in the unenviable position of being too young to benefit from generous defined benefit pension schemes and too old to receive the full benefits of automatic enrolment. “They need support in understanding how their pension, property and any other savings might top up their state pension to give them a decent income in retirement. ...
Final salary pension warning: Savers risk ruining retirement with transfers image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 03:24:00 PM
.... However, the saver must understand the investment risks of moving into another type of pension that doesn't guarantee income. An investor shouldn't make a transfer if they will rely on the income from the savings for essential spending in retirement. ...
Expert help for gardens on a budget, plus the older expats facing poverty image
Source : Guardian [Read Article] Wednesday 12th of April 2017 02:07:41 PM
....Millions of EDF customers face second price rise this year. Government launches ‘market-leading’ savings account. ...
The older expats facing poverty – thanks to Brexit and frozen pensions image
Source : Guardian [Read Article] Wednesday 12th of April 2017 06:00:27 AM
.... There’s nothing left. I live from day to day, with the knowledge and fear that if the exchange rate goes down any more, I’ll have to use up the last of my life’s savings and then, I will literally have no financial cushion left. ...
NS&I launches new market-leading investment bond with rate of 2.2 per cent image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 12:01:00 AM
. But the NS&I bond is only available online which will put it out of the reach of many pensioners who count on the returns of their savings to supplement fixed income pensions. ...
Inflation rates puts squeeze on savers as UK is in the midst of a 'silent savings crisis' image
....”. Hagger said the bond offers only slightly more than the best savings from the new breed of “challenger” banks: “You can already earn 2 per cent with Secure Trust, 1. ...
The early bird Isa investor catches the best returns image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 12:01:00 AM
....”. Many people cannot afford to invest another large sum in an Isa straightaway but should consider a monthly savings plan instead. ...
Bombardier and Siemens 'in train deal talks' image
Source : BBC [Read Article] Tuesday 11th of April 2017 09:17:35 PM
....RBC analyst Walter Spracklin said that although details were lacking, he viewed a combination of the two positively. He pointed to shared expertise of industry leaders, potential cost savings and better competition against lower-cost Chinese companies that are "beginning to reach beyond their own borders". ...
'Scant reward for savers!': New Government NS&I bond blasted by critics image
Source : Daily Express [Read Article] Tuesday 11th of April 2017 03:54:00 PM
....com, which critics said will freeze out many pensioners without access to the internet. Anna Bowes, Director at independent savings advice site, Savingschampion. ...
Savings rates turn NEGATIVE amid biting inflation with just ONE account beating rate image
....And the situation is only set to get worse in the coming months with inflation predicted to top three per cent by the end of the year. The Government claimed it would help savers with a new savings bond launched today through NS&I, but even that only has a rate of 2. ...
Government 2.2% savings bond goes on sale image
Source : BBC [Read Article] Tuesday 11th of April 2017 08:00:16 AM
. A new government savings bond, offering what the Treasury says is a "market leading" rate of 2. ...
Ford Money: New savings and ISA accounts launched aiming to help struggling savers image
. Ford Money now offers UK savers ISAs, as well as variable and fixed-rate savings accounts. ...
The good stuff image
Source : BBC [Read Article] Monday 10th of April 2017 11:19:56 PM
.... . "Engaged employees lead not only to better corporate performance, but also significant cost savings through stronger retention and more targeted recruitment based on cultural appreciation," she says. ...
How to boost your pension by £700 a year: The amazing simple trick for YOUR retirement image
....This lack of engagement and interaction is set to waste £9billion invested each year from 2019, Dectech has calculated. Simply taking the time to engage with savings and ensuring they are in the right investments could make savers an extra £700 a year on average, according to the firm. ...
Trump tax cut plan will be as big a flop as failed healthcare reforms | Nouriel Roubini image
.... The BAT does not have enough support even among Republicans, and it would violate World Trade Organisation rules. The Republicans’ proposed tax cuts would create a $2tn revenue shortfall over the next decade, and they cannot plug that hole with revenue savings from their healthcare reform plan or with the $1. ...
Ukraine's central bank chief resigns image
Source : BBC [Read Article] Monday 10th of April 2017 10:46:19 AM
....The 52-year old is credited with allowing the local currency, the hryvnia, to find its own level, a move that saved the central bank from running out of money. However, that move, undertaken on the advice of the International Monetary Fund, also cut the value of people's savings and introduced soaring inflation. ...
Parents forking out thousands of pounds after children leave the nest image
Source : Daily Express [Read Article] Monday 10th of April 2017 12:01:00 AM
.... . More than half of parents (56 per cent) fund this spending from savings and a third (36 per cent) cover the costs from their normal income. ...
'Punk' beer maker BrewDog sells 22% of firm to private equity house image
Source : Guardian [Read Article] Sunday 9th of April 2017 01:40:17 PM
....James Watt and Martin Dickie have said that they started brewing because “basically, we couldn’t find anything we really wanted to drink”. The pair, who were at school together in Aberdeenshire, started Brewdog in 2007 with the help of a bank loan, savings and a grant from the Prince’s Trust. ...
Property’s equity can help your loved ones image
Source : Daily Express [Read Article] Sunday 9th of April 2017 12:01:00 AM
.... . Grandparents who would like to help their children or grandchildren but do not have enough savings to do so are turning to equity release. ...
Small towns seethe at bank closures, but others are plotting a new future image
....Monzo is relying on an EU directive, called PSD2 (the second payments services directive) that later this year will open the banking market to digital competitors. Monzo hopes to create a single financial tent, home to the core current account but also drawing in mortgages, savings, card providers, and even utility companies, all accessed from one app. ...
Lifetime ISA providers: Which banks offer a Lifetime ISA? image
Source : Daily Express [Read Article] Friday 7th of April 2017 04:51:00 PM
. Young people across Britain are rushing to open the new type of tax-free savings account which promises to help them on to the property ladder. ...
Uncharted 4 wins best game at Bafta awards image
Source : BBC [Read Article] Thursday 6th of April 2017 06:22:52 PM
....But in terms of heart warming stories from the night - think of Ghost Town Games. The two-man team quit their jobs to make the game Overcooked with their savings. ...
Unilever bins Flora – but butters up its shareholders | Nils Pratley image
Source : Guardian [Read Article] Thursday 6th of April 2017 06:21:41 PM
. Complacent? Us? Try a €5bn share buyback, a 12% better dividend, deeper cost savings and a firm target for profit margins in 2020. ...
Low interest rates put global financial sector at risk, IMF warns image
Source : Guardian [Read Article] Thursday 6th of April 2017 02:30:06 PM
....Although interest rates have recently started to rise in the US, the IMF said Japan’s experience suggested an imminent and permanent end to the current low interest rate environment could not be guaranteed. Some economists, such as the former US treasury secretary Larry Summers, say the global economy is gripped by so-called secular stagnation, in which excessive savings and weak investment lead to weaker growth and lower interest rates. ...
Advertising fail image
Source : BBC [Read Article] Thursday 6th of April 2017 01:57:06 PM
....This anti-gambling advert deserves to be ranked in the Hall of Fame (or shame) for the amount of jokes it generated. It was released to coincide with the 2014 World Cup and featured a boy complaining to friends that his dad had bet his life savings on Germany winning. ...
Peers push to reverse bereavement benefit changes image
Source : Guardian [Read Article] Thursday 6th of April 2017 01:53:48 PM
....Henley said he rejected her characterisation of the changes as cuts. “There will be no initial savings to the taxpayer in the first two years. ...
Lifetime ISA available NOW – 12 myths about the new Lifetime ISA image
Source : Daily Express [Read Article] Thursday 6th of April 2017 09:37:00 AM
. The new type of savings account is designed to let people aged 18 to 40 save for their first home or retirement without paying tax on the interest they earn. ...
Banks and building societies snub Lifetime Isa launch image
Source : BBC [Read Article] Wednesday 5th of April 2017 10:57:02 PM
. The government's flagship savings programme, the Lifetime Isa (Lisa), has been snubbed by banks and building societies on the day it launches. ...
Deliveroo's verbal gymnastics show commonsense not on the menu image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:29:05 PM
.... It’s all designed to convince HMRC and the outside world that the setup uses self-employed riders and thus does not need to pay employer’s national insurance, contribute to pensions or offer holiday pay. The savings for the company are substantial: on a worker earning £25,000 a year, it’s probably about £2,000. ...
Pension CRISIS: Just one in five of Britons expect to stop work by 65  image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 03:15:00 PM
. More than half of people think they will continue working into their later years, with a lack of savings thought to be blocking many from starting retirement. ...
Lifetime ISA: Everything you need to know about the new LISA savings account  image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 12:55:00 PM
....The state-backed scheme aims to help people save for a home or life after work by providing a 25 per cent bonus on cash in the account. It means every £4 put into a LISA will earn another £1 from the Government on up to £4,000 of savings every year. ...
What time is the ISA deadline TONIGHT?  image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 09:38:00 AM
. Time is running out to make the most of your tax-free savings because the current tax year ends when the clock strikes 12 tonight (Wednesday April 5). ...
It's that time of year to spring clean your finances with the help of our expert tips image
....If you quickly broke your new year’s financial resolutions, now is another opportunity to dust them off. Take a look at where your cash is going and see how you can make savings. ...
New Isa offers free cash deal to young savers image
Source : Daily Express [Read Article] Wednesday 5th of April 2017 07:58:00 AM
.... . The money grows free of tax in the same way as a standard traditional individual savings account (Isa), allowing tax-free withdrawals provided you comply with the scheme’s rules. ...
Ralph Lauren to close flagship Polo store in cost-cutting plan image
Source : BBC [Read Article] Tuesday 4th of April 2017 02:52:30 PM
....Ralph Lauren is cutting jobs and closing offices and shops, including its 711 Fifth Avenue Polo store, as the company strives to reduce costs. The fashion-to-homeware brand, known for its "preppy" look, expects to make $140m in annual savings as a result. ...
Fears for state pension: Over-55s believe vital income could be SCRAPPED by Government image
....But the research suggests changes are leaving people confused and disengaged from pensions and saving. Confusion around access to savings remains rife among over 55s, with two out of three unsure of the freedom rules, showed the study. ...
Bank of England sounds new alarm over consumer credit binge image
Source : Guardian [Read Article] Tuesday 4th of April 2017 11:21:46 AM
....”. The Bank’s latest remarks on household debts follow signs that rising prices and sluggish wage growth are squeezing incomes and prompting some households to run down savings or turn to loans to cover their living costs. ...
Investment ISAs: Chart shows how stocks and shares have returned £60,000 more than cash image
....This year, the very best cash ISA rates won't even beat inflation, which is currently at 2. 2 per cent, meaning savings kept in the accounts are set to lose value. ...
Reckitt Benckiser confirms review of food business image
Source : BBC [Read Article] Monday 3rd of April 2017 07:27:52 AM
.... . Mr Kapoor said the deal was in line with company strategy and would generate £200m of cost savings after three years - although it would not generate a return for about five years. ...
Credit card interest 'could be waived' for longstanding debt image
Source : BBC [Read Article] Monday 3rd of April 2017 06:53:47 AM
....". The FCA said it expected the measures to lead to savings for customers from lower interest payments as a result of faster repayment. ...
The lost generation: ‘I’m 30-something and still depressed and broke’ image
.... After she gives me the £2,000 I feel guilty, but less so when I interrogate her finances. It turns out she has thousands of pounds of savings (including redundancy money from being laid off by Northern Rock); she works part-time at a Marks & Spencer; she gets a state pension (she’s 66 years old); she gets a final salary pension; she gets a winter fuel payment (£200); and she gets a free bus pass, which she doesn’t use as she’s got a BMW. ...
Osborne’s huge tax giveaway starts for rich – as the poor are hit image
Source : Guardian [Read Article] Saturday 1st of April 2017 11:05:38 PM
....• A high-income couple with two children, earning £100,000 a year, will be £480 better off, with no benefit losses and all gains stemming from tax cuts. By 2020, the benefit savings are expected to grow to more than £12bn a year (up from just over £1bn in 2017-18). ...
Location, location, location – where will Channel 4 move to? image
Source : Guardian [Read Article] Saturday 1st of April 2017 02:59:28 PM
.... The lifetime cost of the BBC’s move to Salford – albeit on a larger scale, with more than 2,000 staff – is estimated at almost £1bn. The BBC believes it can achieve up to £151m in efficiency savings by 2030. ...
Pension changes: Workers warned as tax perks SLASHED after April 5 image
Source : Daily Express [Read Article] Saturday 1st of April 2017 09:01:00 AM
....". He added: "Many employers will offer higher contribution rates than this, meaning middle income earners could end up being hit with a shock tax penalty on their pension savings. ...
Lifetime ISA 2017: Seven reasons to transfer money from Help to Buy ISA to Lifetime ISA image
.... . Lifetime ISA holders, who are either saving for retirement or their first home, will also receive a government bonus of 25% on any savings put into their account. ...
Reckitt Benckiser slashes boss's pay by 40% image
Source : BBC [Read Article] Friday 31st of March 2017 02:22:16 PM
.... . Mr Kapoor said the deal was in line with company strategy and would generate £200m of cost savings after three years - although it would not generate a return for about five years. ...
Household savings ratio falls to record low, says ONS image
Source : BBC [Read Article] Friday 31st of March 2017 10:36:39 AM
. UK economic growth was "robust" in late 2016, but economists have warned of worrying signs as the savings ratio fell to a record low. ...
Ofcom moves to cut superfast broadband prices image
Source : BBC [Read Article] Friday 31st of March 2017 08:22:02 AM
....Ofcom is proposing to cut the price that BT's infrastructure arm, Openreach, can charge operators for its popular superfast broadband service. The regulator said it would expect these savings to be passed on to consumers through cheaper bills. ...
Broadband users could see bills slashed as BT is forced to cut charges image
....4 million and 3 million non-BT customers taking the 40Mb package via Openreach, meaning the company’s fees will fall by close to £100m based on estimated customer levels. “We would expect these savings to be passed on to residential customers through cheaper prices,” said Ofcom. ...

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