$18bn pensions windfall lost

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$18bn pensions windfall lost

$18bn pensions windfall lost
Pension funds have lost billions in unclaimed damages over the past 12 years, new research shows.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 2

Housing shortage will ignite price surge
Rightmove, the property website, is predicting a surge in house prices this autumn as a shortage of fresh stock fuels competition among an buyers, raising the prospect of the Government being forced to take action to prevent a house price bubble.
The Times, p. 38
Also appeared in : Independent i, p.40, The Independent, p.50, The Daily Telegraph Business, p.1

New rules have banks offering incentives to move accounts
New rules meant to speed up current account transfers come into force today. Changing banks used to take between 18 and 30 working days to carry out, but the new seven-day switching rule places the emphasis on the banks to ensure they complete the transfer of customers’ accounts within a week of receiving an instruction. Now a price war has started among the big high street banks , with banks offering bumper incentives for customers to move to them.
The Independent, p. 51
Also appeared in : The Daily Telegraph Business, p.4, City AM London, p.11

Bad behaviour comes back to haunt embattled Barclays
Barclays customers have been urged to defect to other providers after the bank scored just four points out of a hundred in a test for honesty, customer service and value to society. On the lower end of the scale, RBS including NatWest, scored seven points, HSBC 18 and Lloyds including Halifax 21. Co-operative Bank scored 46 out of 100, while Nationwide Building Society was on 64, putting both in the “amber” category. The “green” category was led by Cumberland Building Society, with a score of 89, while Metro Bank and Handelsbank scored 77 and 74 respectively.
The Times, p. 37

Barclays’ app targets the high street
Barclays has launched a mobile shopping service that it claims will make it much faster and easier for users to buy products on smartphones.
The Daily Telegraph Business, p. 3

Firms must start to switch banks now it’s much easier
David Prosser reports that the banking industry reforms that come into effect today make it easier for the hundreds of thousands of small businesses that would benefit from a change of bank to do so. However, the big question is whether the new account-switching rules will boost competition and force the banks to offer a better deal to their small business customers.
The Independent, p. 53

UK head of Credit Suisse to oversee bank sales at UKFI
The sale of the government’s stake in Lloyds and RBS will be led by the UK boss of Credit Suisse, the Treasury will announce this morning. As it is now profitable and the Office of Fair Trading has completed its review into the spin-off of TSB, the bank is ready to be sold.James
City AM London, p. 1

Diamond calls for bank rules shake-up
Bob Diamond, the former head of Barclays, has joined a chorus of criticism over the lack of progress in ending banks’ “too big to fail” status.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1
Also appeared in : Daily Mail, p.63

20pc of bank directors are women
Recruiter Astbury Marsden has said that the proportion of women on the boards of UK banks has climbed to 20pc.
The Daily Telegraph Business, p. 1
Also appeared in : City AM London, p.4, Daily Mail, p.63

Tale of the taper
The US Federal Reserve meets on Tuesday and Wednesday to debate the possibility of starting to “taper” its third round of quantitative easing.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 13

Sharp rise in World Bank’s blacklist
The World Bank blacklisted 250 entities and individuals in the first seven months of 2013 – the highest number in seven years -after efforts to clamp down on fraud and corruption in the projects it funds.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 19

Banks in joint move to screen customers
Large global banks are in talks to set up industry-wide services for money laundering and terrorist finance checks to reduce costs following stricter regulation.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

London hedge funds secure victory over Brussels pay rules
Hedge funds are set to benefit from UK pay legislation that will be more lenient than originally expected, according to draft proposals.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 14

Cash for access rules threaten UK fund houses
A clampdown on payments by UK asset managers to brokers threatens to give UK houses a competitive disadvantage.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 1

Co-op bank losses are challenged
The Co-operative bank has been accused of exaggerating its losses in to panic creditors into accepting a rescue deal.
Independent i, p. 42

Creaking UK transport is major threat to recovery, say bosses
A major new report will say today that Britain’s economic recovery is being put at risk by continued Government inaction over energy and transport infrastructure, with two-thirds of companies expecting the situation to get worse.
The Daily Telegraph Business, p. 3

Sterling strength threatens export-led revival
Economists have warned that the rising value of the pound threatens to dampen the UK’s nascent recovery. Sterling rose to a nine-month high against the dollar last week as better-than-expected unemployment figures raised the prospect of an early increase to interest rates from the Bank of England.
The Daily Telegraph Business, p. 3

The above articles appeared on 16/09/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.