Households save less as bills squeeze finances

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Households save less as bills squeeze finances

Households save less as bills squeeze finances
People in Britain are saving less as the cost of living rises at its fastest pace since September 2011, according to two separate
studies on the state of household finances.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 4

Pension industry gives a boost to infrastructure
The Government’s widely questioned push to kickstart the economy though luring pension funds to cough up the cash to build new
roads, waste facilities and prisons received a welcome boost today.
The Independent, p. 51
Also appeared in : The Times, p.29

Shake-up for London pensions
New London Pensions Fund Authority chairman Edmund Truell, is to reform London’s local authority pension funds by merging them into
a single scheme.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 1

HSBC plans to ditch final salary plan for all employees
Tony Ashford, chairman of trustees at the HSBC Bank Pension Trust has written to employees warning them that any future pension
provision would be built up in the defined contribution section of the scheme.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 3

£2bn public bill as part-time judges win pension rights
Thousands of part-time judges will be entitled to a public-sector pension for the first time at a cost of up to £2bn following a
ruling by fellow judges in the Supreme Court.
The Daily Telegraph, p. 2

House prices near peaks seen before recession
Property asking prices have neared their pre-crisis peaks, according to the latest RightMove House Price Survey, published today.
The Independent, p. 51

Comparative cost of renting and buying in the UK
Latest figures from Halifax Building Society show that buying a property in the UK is more affordable than renting.
Independent i, p. 2

Cable tries to allay fears of mansion tax on buy-to-let
Vince Cable has played down the idea that buy-to-let investors could be caught in the net of a Lib Dem mansion tax with the
Business Secretary telling Sky News it was “completely impractical and intrusive”.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 4

Cable: we might back Labour’s ‘mansion tax’
Liberal Democrats will consider rebelling against the Government and voting with Labour in favour of a “mansion tax” on valuable
houses if it is pushed to a vote in the House of Commons, the Business Secretary Vince Cable said yesterday.
Independent i, p. 7

Housing groups raise record £4bn with bonds to plug funding gap
Housing associations have made an aggressive push into the capital markets, raising almost £4bn in 2012, highlighting the pressure
on government-funded organisations to establish alternative lines of credit.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

LSE complains that stamp duty ‘gums up the markets’
The LSE has complained that stamp duty squeezes liquidity, increases volatility, depresses share prices and puts companies off
issuing equity to raise capital. “Stamp duty is like sugar: it gums up the markets,” wheezes its latest tract, sent out last week
ahead of next months’ Budget.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 22

Independent brokers under threat
Low investor confidence and fierce competition from investment banks mean independent brokerage firms can no longer rely on market
trading to earn a living unless they find a way to differentiate themselves, a new survey by professional advisers McLean
Partnership has warned.
City AM London, p. 12

Treasury acts on hedging products mis-sale
Barclays, Royal Bank of Scotland, HSBC and Lloyds Banking Group could face a wave of small companies demanding the suspension of
potentially mis-sold interest rate hedging products after Treasury intervention.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

Lib Dems back an RBS share gift for taxpayers
Giving every taxpayer shares in RBS worth hundreds of pounds is one of the options “in play” to return the bank to private
ownership, Business Secretary Vince Cable confirmed yesterday.
The Independent, p. 12
Also appeared in : Independent i, p.5

RBS bankers to get multimillion-pound windfall in shares
Senior bankers at Royal Bank of Scotland are in line to share a multimillion-pound bonus windfall, in a move that risks stoking
another pay row at the bailed-out bank in the wake of the £390m Libor fine.
The Guardian, p. 19
Also appeared in : The Times, p.33

Hotspot ‘land grab’ as operators seek WiFi edge
This week telecoms operator BT will reveal a partnership with Barclays to install free WiFi in 1,500 bank branches around the UK.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 23

Treasury brains trust ready to change goalposts at the Bank
The Treasury has set up a unit to explore changes to the Bank of England’s remit as political pressure mounts for action to boost
economic growth.
The Times, p. 29

London outgunned on EU bank pay curbs
Talks on EU reforms to make banks safer are entering a potentially decisive week with Britain facing defeat in Brussels over an
issue dear to the City of London.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

Banks’ risk tactic under fire
The Basel Committee on Banking Supervision has recommended that big banks sould be barred from using different historical time
periods when calculating value at risk, one of their most common tactics to reduce capital requirements.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 17

Carney to give UK plastic banknotes
Mark Carney – the next Governor of the Bank of England – has hinted that he may introduce “polymer pounds”, to replace banknotes
made from cotton and linen.
The Daily Telegraph Business, p. 1

PPI-claims firm ‘rang emergency lift number’
Paul Lynam, chief executive of Secure Trust Bank, has warned of the increasingly ridiculous steps that claims management companies
are taking to find customers allegedly mis-sold financial products.
The Daily Telegraph Business, p. 5

The above articles appeared on 18/02/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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