Keep savings within the safety limits


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Keep savings within the safety limits

Keep savings within the safety limits
Advisory feature on how to diversify your savings to insure that they are protected by government guarantee schemes.
The Times Personal Finance, p. 3


Seven-day switch can break the chains of marriage
A feature on how to change your banking service provider.
The Times Personal Finance, p. 1


Spotlight falls on pension fund losses
An employment tribunal is set to shed light today on financial practices that caused losses at some of Britain’s biggest pension funds. The tribunal in East London will consider an appeal by Ed Pennings, who was dismissed by State Street, the Boston-based financial services group, after problems became apparent with its transition management operations for J Sainsbury and Royal Mail. It is understood that at least three other pension funds were involved.
The Times, p. 41


High margins pay off
Rising demand for its higher-margin products helped Aberdeen Asset Management to beat analysts’ expectations and lift full-year revenues by 11 per cent to £869.2 million for the year to September.
The Times, p. 42
Also appeared in : The Times, p.42, Daily Express, p.58, The Independent, p.51, Financial Times, p.16


How the Bank of Mum and Dad bails out 66% of first-time buyers
A report on the 66%of first-time buyers relying on financial help from their parents.
Daily Mail, p. 21
Also appeared in : The Times, p.40


Barclays’ shares drop on sale of Qatari warrants
Barclays shares fell sharply yesterday after a sizeable sale of warrants by Qatar Holdings, which invested heavily in the bank at the height of the financial crisis.
City AM London, p. 6
Also appeared in : City AM London, p.21, The Times, p.37, The Times, p.47, The Independent, p.52, Financial Times Companies and Markets, p.17, The Daily Telegraph Business, p.1, The Guardian, p.24, Financial Times, p.16, International Herald Tribune, p.21


UBS fined for rogue trader ‘weaknesses’
The Financial Services Authority has fined UBS £29.7 million for “serious weaknesses” that allowed a rogue trader to lose £1.4 billion, pushing the bank to the brink of collapse.
The Times, p. 41
Also appeared in : Daily Mirror, p.6, The Sun, p.40, The Independent, p.47, The Daily Telegraph Business, p.1, The Guardian, p.22, Financial Times, p.16, Financial Times Companies and Markets, p.18


Greece hopes it’s third time lucky for bailout deal
Eurozone finance ministers were inching towards a deal last night that would allow the next €44 billion instalment of bailout loans to be handed to Greece. Ministers have failed twice in the past two weeks to reach an agreement over the issue of bringing Athens’ debts down to 120 per cent of GDP by 2020, after a forecast peak of up to 200 per cent in the next two years.
The Times, p. 43
Also appeared in : The Times, p.43, The Independent, p.47, The Guardian, p.22


Northern Rock treasurer dies
Keith Currie, the former treasurer of Northern Rock, who retired with a £2.5m pension pot when the bank collapsed but was racked with remorse over its decline, has been found dead at his home.
The Independent, p. 10
Also appeared in : The Times, p.22, The Sun, p.24, The Daily Telegraph, p.12


Banks warn tough new capital rules hit lending to small firms
British banks are being hit hard by incoming regulations, hurting their ability to lend and so damaging the economy, THECITYUK warned yesterday. The lobby group particularly singled out the impact on small firms, who are more reliant on bank funding than bigger businesses, and called on the government to slow down the implementation of the new rules to limit the damage being caused.
City AM London, p. 19


Brazilian bank expands work force in London
Latin America’s biggest bank Itau Unibanco is relocating its wholesale operations to London, taking advantage of the relative weakness of UK and EU banks which are shrinking much of their operations The bank is relocating its wholesale arm’s headquarters to its City offices, according to a note sent to clients and seen by City A.M., and has already moved 20 staff from Lisbon to Broadgate Tower. They includes capital market operations, investment and corporate banking roles and treasury operations.
City AM London, p. 1


Capita Financial Managers let off from FSA fine over Arch Cru
Capita Financial Managers has escaped a £4m fine but was publicly censured by the FSA for failing to monitor client cash under its wing.
City AM London, p. 10


Banking & finance
The Financial Services Authority came under fire for deciding not to impose a £4 million penalty on Capita Financial Managers because it deemed it unable to pay without additional help from its parent company Capita Group.
The Times, p. 40


The above articles appeared on 27\11\12 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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