July 2013 - Charterbridge

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Monthly Archives: July 2013

Santander pre-tax profits fall by 20%

REPORT FINDS BRITISH BANKS ARE NOT RACIST A report commissioned by Deputy Prime Minister has found that British banks are not guilty of discriminating against black and ethnic minority people. City AM London, p. 5 Santander pre-tax profits fall by 20% Eurozone woes have squeezed Santander’s UK profits this year as it pays the price […]

Savings rates plunge to record lows

Savings rates plunge to record lows The Bank of England reported yesterday that the average interest paid on time deposits and savings accounts such as one-year bonds had fallen from 2.06 per cent to 1.85 per cent in the past month, the first time the figure recorded by the Bank has dropped below 2 per […]

Weekend economic news round up

Thrift is back in fashion as Britons put their faith in Isas New figures from the Office for National Statistics show that a record £57.3bn was deposited in Isas last year. The Times, p. 41 Property experts fear Help to Buy ‘bubble’ George Osborne has been warned that his flagship Help to Buy scheme to […]

Confusion mars Kodak pensions

Confusion mars Kodak pensions The UK pension fund of Eastman Kodak is scrambling to collect votes from members to approve a new pension scheme during what has become an increasingly confused balloting process. This abstract from the Financial Times was produced by Kantar Media Financial Times FT fm, p. 2 £30m pension blunder Health bosses […]

200,000 face missing out on Equitable payout

200,000 face missing out on Equitable payout More than 200,000 people who lost money from the collapse of Equitable Life face missing out on compensation because of basic failings in the Government’s reimbursement scheme, a scathing report by a Westminster spending watchdog warned today. Independent i, p. 7 PRAY DAY LOANS Justin Welby has pledged […]

Premium Bond prize fund cut

Ernie raises odds of a Premium Bond prize in new blow for savers It has been revealed that National Savings has slashed the chances of a win for its 22 million Premium Bond holders. From August 1, the prize fund will slump from £57 million to £49 million and the odds of each £1 bond […]

Bubble could burst for priciest properties

Bubble could burst for priciest properties A report from Development Securities has warned that the capital’s most expensive housing is becoming “increasingly vulnerable” to a price bubble, with a typical luxury home now costing more than 6.5 times the national average. The Times, p. 13 UBS settles in America UBS has reached an agreement equivalent […]

Weekend economic news headlines

Most families are only 18 days from disaster The average family has only enough savings to survive for 18 days without any income, a study suggests. The Deadline to the Breadline report, based on analysis by the Centre for Economics and Business Research, found 37 per cent of Britons had no savings. The Daily Telegraph, […]

PPF responds to UK Coal criticism

PPF responds to UK Coal criticism Martin Clarke reports on how innovative pension scheme arrangements represents a good financial result for all. UK Coal has generated interest and speculation about the role of the Pension Protection Fund (PPF) in what was an innovative arrangement. This abstract from the Financial Times was produced by Kantar Media […]