Worst pension annuity providers named

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Worst pension annuity providers named

Worst pension annuity providers named
The ABI has compiled a list of the worst pension providers in the UK, with Widows and Clerical Medical coming out at the top, paying an annuity of £839 a year on a savings pot of £18,000, compared with £1,099 at the best payer, Reliance Mutual.
The Guardian, p. 26
Also appeared in : Daily Express, p.1-2

Housing recovery ‘at risk’ from failure to develop existing sites
A study, commissioned by the Local Government Association, has found that nearly 400,000 homes in England have been given planning permission but have not been built – which could derail the recovery of the housing market.
The Times, p. 8

House-building ‘not meeting demand’
Councils have warned of the risk of a house price “bubble” because developers cannot meet demand following a series of government interventions in the housing market.
The Daily Telegraph, p. 14

Lloyds deals pull in £500m and raise hopes of early sale
Yesterday Lloyds Banking Group replenished its coffers with another £500m, adding to growing hopes the government will be able to start the sale of some of the taxpayer’s 39 per cent shareholding as early as next month.
The Independent, p. 56
Also appeared in : Daily Express, p.57, The Sun, p.52-53, The Guardian, p.26, Metro London, p.60, The Daily Telegraph Business, p.2, Independent i, p.46, The Daily Telegraph Business, p.5, Daily Mail, p.79, The Guardian, p.26, Financial Times Companies and Markets, p.19, City AM London, p.5, Evening Standard London, p.37, City AM London, p.5, Daily Mirror, p.58

Osborne strategy hit by surprise deficit for July
The Treasury recorded a deficit in July, according to the ONS, which said the government had to borrow £100m last month, compared with the £800m surplus it ran up in the same month last year. Once QE was excluded, the deficit increased to £500m, something criticised by Chris Leslie, shadow financial secretary to the Treasury, who said a future Labour government would “make different choices and work for a strong and sustained recovery which delivers on living standards for the many. That’s the way to get the deficit down and do so in a fairer and more balanced way”.
The Guardian, p. 25
Also appeared in : The Daily Telegraph Business, p.5, Evening Standard London, p.2, Metro London, p.4, City AM London, p.2, The Guardian, p.26, Independent i, p.11, Evening Standard London, p.36, Evening Standard London, p.36, Daily Mail, p.78

Banks’ £1.5bn bill for new mis-selling
The Financial Conduct Authority intends to announce a plan that will see British banks are facing a bill of up to £1.5bn. Sky News reported that the regulator will announce that about a dozen financial institutions, including all the major high street banks, have signed up to the compensation scheme.
The Guardian, p. 25
Also appeared in : The Times, p.41, The Independent, p.56, The Daily Telegraph Business, p.1, Daily Mail, p.2, City AM London, p.1, Financial Times, p.1, Independent i, p.48

Stricken rupee hits new lows as another support effort founders
Last night India’s free falling currency hit new record lows despite efforts by the country’s central bank to shore up its stricken markets. The rupee tumbled with the country’s shares as investors rapidly shrugged off the Reserve Bank of India’s announcement that it would inject liquidity into the country’s financial markets. The currency slumped to a record low of R64.55 to the dollar, with Deutsche Bank analysts predicting a further fall.
The Independent, p. 53
Also appeared in : Independent i, p.46, Financial Times Companies and Markets, p.30, City AM London, p.2, Evening Standard London, p.37, Daily Mirror, p.58

Fed ‘comfortable’ with scaling back QE this year
The Federal Reserve is being cautious about scaling back its quantitative easing programme too soon, however members are “broadly comfortable” with the idea that it should start tapering later this year.
The Daily Telegraph Business, p. 5
Also appeared in : Financial Times, p.2, Independent i, p.46, International Herald Tribune, p.12, Financial Times, p.6

Interns keep working at BofA after colleague’s death
Bank of America and Merrill Lynch have given interns the option to end placements early after a German undergraduate died.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2
Also appeared in : City AM London, p.2, The Daily Telegraph, p.26, Independent i, p.13

Merkel pledges no new haircut
Angela Merkel the German Chancellor yesterday lashed out at the idea that Greece could be granted another haircut on its debts, while playing down the prospect of a third bailout for the indebted Mediterranean state. Merkel was speaking in Germany on the day that the European Central Bank (ECB) visited Athens to check up on Greece’s bailout progress.
City AM London, p. 2
Also appeared in : City AM London, p.17, Daily Express, p.2, Financial Times, p.10

SFO joins investigation into JP Morgan’s £3.9bn ‘London Whale’ losses
The Serious Fraud Office has become involved in the probe into the $6bn (£3.9bn) loss on derivatives at JP Morgan, in the first sign the “London Whale” scandal is being scrutinised by UK prosecutors.
The Daily Telegraph Business, p. 5
Also appeared in : Financial Times Companies and Markets, p.16

‘Grave’ effects from euro exit, Bundesbank boss warns
A break-up of the eurozone would have “grave consequences”, the head of Germany’s central bank has warned, while talk of a third bail-out for Greece has intensified.
The Daily Telegraph Business, p. 4

British lenders storm ahead of overseas rivals on transparency
UK banks are more open and transparent than their foreign counterparts in almost all key areas of financial reporting, international agency the Financial Stability Board reported yesterday. In vital measures across capital levels, liquidity calculations and risk management the UK is well ahead of rivals, the report said.
City AM London, p. 5

Fed split on timing of interest rate rises
US Federal Reserve officials vigorously debated changing the trigger for eventual increases in interest rates.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 1

More QE could be needed, says MPC ‘hawk’
The Bank of England may need to resort to further “quantitative easing” if the economy stalls again, one of four external members of the Bank of England’s Monetary Policy Committee has conceded.
The Daily Telegraph Business, p. 1-5

The above articles appeared on 22/08/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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