The chairman of the Independent Commission on Banking has said that he will not back down from breaking up the banks if the current proposition to ring fence their retail and investment sections does not appear to work. The biggest banks in Britain operate on two different platforms. The first is their retail sector, which […]
Tag: Money
Only 30% of Savers Beat Inflation
A new survey from RateSetter, a company that operates lend-to-save loans, allowing people to directly loan their money out to people who need it and thus improve the interest rate for both savers and lenders, has revealed that as few as 30% of people may be beating inflation with their current savings account. In their […]
CBI Increases GDP Prediction for 2012
There have been so many different predictions about what 2012 will look like overall from a GDP perspective that is has been hard to keep track of them. Depending on which institutions you listen to and whether you keep up with all of their later revised predictions, you might be expecting Britain’s economy to have […]
Poppy Appeal 3.25% Rate Bond Launched
Coventry Building Society are once again hoping to appeal to people’s sense of charity by launching their Poppy Appeal bond, a savings account that offers a 3.25% fixed rate until December 31st 2014 and allows people to put between £1 and £250,000. What’s more, 0.05% of the total funds that the building society gets from […]
NatWest Bucks the Trend With New ISA Offering
For the last few months, banks have been continually cutting the interest rates they offer on their ISA accounts, with customers seeing the best new deals available drop from offering 3.5% to around 2.5%. It was a trend that looked set to continue, much to the disappointment of savers everywhere. However, NatWest now appear to […]
NS&I Poll Reveals Savers are Happier
A poll by National Savings and Investments has revealed that people who put aside some money into savings are generally happier, having a nice little boost whenever they put money into their savings account or look at their balance to date. The amount doesn’t have to be particularly big either, with customers finding that just […]
Barclays Mis-Sold PPI Compensation Payments Reach £2billion
The amount that Barclays have paid out for compensation to customers to whom they mis-sold payment protection insurance (PPI) has jumped by £700million following an announcement from the bank today, reaching the dizzying height of £2billion. It’s a truly astounding figure and just goes to show how wide spread the mis-selling of PPI truly was. […]
CCCS Warns Consumers Are Relying too Heavily on Overdrafts
The Consumer Credit Counselling Service (CCCS), a charity which gives advice to people who are struggling with debt and repayments, has warned that many consumers are turning to the more expensive option of overdrafts rather than tackling any gap in their finances with loans or credit cards. Una Farrell, a spokeswoman for the charity, said that “these […]
Top Regulator Admits FSA Didn’t Do Enough to Control Banks
The Financial Services Authority’s Lord Turner had admitted that the FSA didn’t do nearly enough to control the big banks and ensure they were operating safely in the years leading up to the credit crunch. Speaking at a dinner in the City of London, Lord Turner got as close to issuing an apology from the […]
Figures Reveal Pensions Have Fallen 20% in Three Years
This year, 800,000 people will enter retirement age and begin drawing on any private pension funds that they have set aside. However, those that do could be earning as much as 20% less than those who began their retirement just three years ago. This has all been revealed as shocking figures show just how much […]