POTS OF MONEY

Charterbridge

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POTS OF MONEY

POTS OF MONEY
Cautious Brits would rather stash their cash in coin jars than put it in savings accounts, a new survey has revealed. The average coin jar holds £38.35, but nearly one in ten has more than £100, according to a Gocompare.com poll.
The Sun, p. 13

Money talks Make the most of your cash
Yorkshire Building Society has launched a new fixed rate bond for longer-term savers.
Metro London, p. 47

Young plan for old age
A study by the National Association of Pension Funds has found that younger workers born in the 1980s are more pension-conscious than their older colleagues and are making early plans for retirement provision.
The Times, p. 37
Also appeared in : Daily Express, p.28, The Daily Telegraph, p.8

Osborne needs to curb pensioner benefits, says think-tank
Research has shown that George Osborne will be unable to limit welfare spending without cutting benefits for pensioners.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

Fresh fears over BT pension fund
The telecom group BT’s closely watched pension deficit is again giving investors and analysts cause for concern. Its size increased to £4.1bn, net of tax, at the end of December due to lower corporate yields and higher-than-expected inflation. Since 2010, BT has been injecting £525m annually into the pension fund.
Daily Mail, p. 63

Jupiter boss hits out at pay cap
Edward Bonham Carter, CEO of Jupiter Asset Management, has reacted angrily to a proposed bonus cap, saying it would leave companies exposed during “down times”.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 2

Boutiques prepare fightback
The Group of Boutique Asset Managers has been launched to lead a fightback against the growing dominance of “powerful, well-resourced, global players”.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 2

Cable in bid to get former HBOS chiefs barred from boardrooms
Business secretary Vince Cable is pressing for the board roles of three former HBOS directors to be taken away, and a ban on them ever being company directors put into place.
The Independent, p. 47
Also appeared in : Daily Mail, p.2, The Guardian, p.20, The Sun, p.21, The Times, p.1-8, Independent i, p.40, The Sun, p.6, Daily Star, p.2, Financial Times, p.2, International Herald Tribune, p.19, Independent i, p.12, Independent i, p.42, The Daily Telegraph Business, p.1, Daily Mail, p.2

Portugal will cut spending as it seeks to protect bail-out
Portugal’s Prime Minister last night said his bailed out country must make deeper cuts to public services as the country teetered on the brink of a new political crisis after its high court blocked austerity plans.
The Daily Telegraph, p. 15
Also appeared in : The Times, p.28-29, The Guardian, p.20, City AM London, p.1, International Herald Tribune, p.1, Financial Times, p.6, Financial Times, p.1

Lagarde: Japan stimulus good but structural reforms needed
IMF boss Christine Lagarde said yesterday that Japanese monetary policy is a step in the right direction, but will not bring lasting growth without supply-side reform.
City AM London, p. 9
Also appeared in : Financial Times, p.7, The Guardian, p.22, Daily Mail, p.63, Financial Times Companies and Markets, p.28

ECB: Cyprus is proof banks can be wound down
The Cyprus bailout shows banks can be wound down despite difficulties, European Central Bank (ECB) policymaker Jens Weidmann said in an interview broadcast yesterday, adding the situation on the island had stabilised.
City AM London, p. 2
Also appeared in : International Herald Tribune, p.19, Financial Times, p.6

Central banks ready to take more risks
A survey, compiled by RBS for Central Banking Publications found that leading central banks are taking on more risk in their reserve portfolios because of low returns on government bonds.
City AM London, p. 8
Also appeared in : Financial Times, p.7

Greek banks push back merger
National Bank’s plan to absorb Eurobank to form Greece’s biggest banking group will be suspended until both are recapitalised, and a state bank support fund will decide if they should merge, a finance ministry official said yesterday.
City AM London, p. 7

Banks pull back from lending to EM groups
Lending by Western banks to companies across emerging markets is falling sharply as the eurozone banking crisis grinds on, research shows.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 2

City firms will fund EU with transaction tax
City firms face paying billions of pounds in taxes to foreign governments if a proposed financial transaction tax is implemented, according to a damning report released yesterday by interdealer broker Icap. The research also finds that the policy will have a “negative effect on the real economy” and increase the cost of government borrowing.
City AM London, p. 4

Claims pests face curb
Lloyds Banking Group has welcomed the introduction of strict new rules for claims management companies conduct. This follows the PPI scandal which has fomented a wave of unsolicited text messages and telephone advertisements.
The Daily Telegraph Business, p. 5

Past lessons that helped the economy grow are at risk of being forgotten
Andrew Lilico, a director and principal of Europe Economics, a consultancy specialising in economic regulation, competition policy, and the application of economics to public and business policy issues, suggests that low interest rates and high budget deficits are not the solution to the current European financial malaise.
The Daily Telegraph Business, p. 2

Minister ‘tried to bank millions in Geneva’
France’s disgraced former Budget Minister reportedly tried to invest around €15mn (£12.7mn) in a Swiss fund in 2009.
The Daily Telegraph, p. 14

JPMorgan Chase opens banks’ season
JPMorgan Chase will open Wall Street’s earnings season on Friday after a mixed quarter in investment banking and continued pressure on retail banking revenues from ultra-low interest rates.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 28

Banking & finance
Taxpayers will have to wait up to a decade to get their money back from the bailout of Northern Rock, according to the chief executive of UK asset Resolution, which is responsible for managing the rump of the bank.
The Times, p. 38

The ECB’s priority should be to fix southern Europe
Comment on the eurozone economy, asking why the European Central Bank is not cutting interest rates.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 11

Investment bank at Crédit Agricole looks to curb costs
Interview with Jean-Yves Hocher, corporate and investment banking chief at Crédit Agricole.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

Europe needs more creative thinking
Leader on the need for more creative thinking from the ECB to avoid the currency bloc drifting into prolonged stagnation.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 10

The above articles appeared on 08/04/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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