We have separate accounts ... so it's been easy to hide my little nest egg


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We have separate accounts … so it’s been easy to hide my little nest egg

We have separate accounts … so it’s been easy to hide my little nest egg
A new survey has found 6.2million British women are hiding debts from their partners and these even include big mortgages. At the same time, another 4.3million are hiding savings and investments from their other halves. And one in seven Brits – men and women – does not have the foggiest idea how much their partner earns. Tales like these can make it tricky to sort out family finances, especially in times of soaring debt. Research shows one in five of us is still paying for Christmas 2011 – and the same number of people are starting 2013 with credit card debts in excess of £5,000.
The Sun, p. 38-39

Pensioners’ benefits are future target, hints Clarke
Kenneth Clarke, the Minister without Portfolio, has hinted that the Conservatives will go into the election promising to cut some pensioners’ benefits, such as universal winter fuel payments, free bus passes and television licences.
The Daily Telegraph, p. 2
Also appeared in : The Times, p.15, Daily Mail, p.8, The Daily Telegraph, p.1

BARCLAYS has launched a new […]

Yesterday Barclays launched a new mortgage to help first-time buyers with only small deposits. Family Springboard offers a three-year fix at 4.69% for those with a 5% deposit if their family opens a savings account linked to the mortgage and puts in 10% of the purchase price. When the three years are up they get their savings back. It’s similar to Lloyds’ Lend a Hand, which charges 4.5% for three years but requires relatives to put up 20%.
Daily Mirror, p. 58

UBS says male staff excess led to Libor fixing
The rotten culture in parts of Swiss bank UBS may be improved by hiring more female staff, investment banking chief Andrea Orcel told MPs and peers yesterday.
City AM London, p. 3
Also appeared in : The Times, p.36, The Independent, p.51, Daily Express, p.50, The Sun, p.41, International Herald Tribune, p.1, International Herald Tribune, p.13, The Daily Telegraph Business, p.1-5, The Guardian, p.25, Financial Times Companies and Markets, p.16, The Guardian, p.26

HSBC stake sale in jeopardy over funding fears
HSBC’s plan to shed its stake in Ping An to a Thai conglomerate could be prevented by China’s insurance regulator over funding concerns.
The Daily Telegraph Business, p. 5
Also appeared in : International Herald Tribune, p.16

Morgan Stanley cuts 1,600 jobs and admits rewards are too high
Morgan Stanley is to cut 1,600 jobs across its global workforce in a move that could result in the loss of hundreds of jobs in the City of London. The Wall Street investment bank will axe about 6 per cent of the bankers in its institutional securities unit due to the slowdown in corporate lending and merger and acquisition activity.
The Independent, p. 51

Aggrieved RBS shareholders to launch legal suit imminently
Campaigners hope to launch a legal suit against RBS within weeks, arguing the bank and key bosses misled them about the strength of the institution in a major rights issue in 2008.
City AM London, p. 11

JPMorgan to book $700m charge
JPMorgan Chase will book a $700m (£436m) charge when it releases its fourth-quarter accounts on 16 January, the company said in a regulatory filing last night.
City AM London, p. 2

Ping An stake sale could be hit out of play
China’s insurance regulator is widely expected to reject HSBC’s proposed sale of its stake in the insurer Ping An to a Thai conglomerate after financing for the $9.4 billion deal appeared to have collapsed
The Times, p. 39

PPI bill to hit £50bn
Watchdogs said yesterday that Brits blew £50bn on dodgy payment protection insurance, four times more than feared. Which? said £40billion of policies were sold since 1996, with £10billion interest on top. But banks have only a £13billion compensation kitty.
The Sun, p. 6

Tinker, tailor, soldier… and a central banker
Analysis of the harm done by the excessive secrecy over Bank of England decisions.
The Daily Telegraph, p. 19

Ireland has sold €1 billion worth of debt held by the Bank of Ireland, more than expected, cutting its exposure to the bailed-out bank amid growing confidence in the country’s recovery.
International Herald Tribune, p. 16

The above articles appeared on 10/01/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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