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Thursday, August 11 2016 Back to Main Site

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Brexit vote means 1 in 3 homes for sale had asking price slashed

More than 30% of homes for sale on the property website Zoopla had been reduced in price by the beginning of August, with the average discount at £25,257. read


Lending to first-time buyers leaps by a quarter in just one month says CML

The number of loans to first time buyers leapt by 24 per cent in June when compared with the previous month, to 34,300. read


You can trust me not to ruin ARM: He's the billionaire inventor who thinks robots will rule the world soon. Now he wants to get his hands on Britain's tech giant 

Multi-billionaires are not normally the most apologetic of people. But Masayoshi Son seems only too keen to practise the British art of saying sorry when one hasn't done anything wrong. read


How to size up the risks and profit from shares, property, gold and bonds

When the Bank of England cut interest rates, it wanted to encourage investors to take 'more risk' with their money, we take you through the options and how risky they are. read


Why a fixed rate mortgage still beats a tracker even with rates falling

Many homeowners are bombarding mortgage brokers with phone calls asking if they should switch to a deal that tracks official interest rates - but a fix is probably still better. read


Pension annuity payouts slashed again after last week's rate cut

Four of Britain's biggest insurers have slashed pension payouts since official interest rates were halved to 0.25 per cent last week. read


Royal Mail axes its gold plated final salary pension scheme claiming it has become too expensive to run

Royal Mail would not comment on what kind of pension it would offer the final salary scheme's 90,000 members after 2018 but said it was braced for crunch discussions with unions. read


Entertainment One fights ITV takeover: Broadcaster bids £1bn for maker of Peppa Pig and The BFG

Speculation sent eOne's shares soaring, but yesterday it said the proposal had been unanimously rejected by board members on the grounds it fundamentally undervalued the company. read


MARKET REPORT: Investors back Paysafe's plan for online gaming with revenues up and shares soaring 6.2%

The strategy seems to be serving it well if its latest trading update is anything to go by – Paysafe has upped its revenue forecast for the year by around £15m to between £745 and £761m. read


Resign now! 'Rottweiler' Hedge fund boss rages at Speedy Hire chairman over falling share price

Toscafund chief executive Martin Hughes accused 69-year-old Jan Astrand who earns £219,000 a year of failing to turn the company around, of indecisiveness and a lack of experience. read


ALEX BRUMMER: Lloyds's bonking in the boardroom boss owes an apology to his workers as well as his family

Antonio Horta-Osorio's relationship with education guru Dr Wendy Piatt was not with a colleague so questions of conflict of interest don't come into the picture. However it poses a problem for the board. read


Stock Spirits to appoint first Polish boss of a big UK company

Yoga-loving father of two Miroslaw Stachowicz, 54, known as Mirek, was appointed a non-executive director of the spirits group in November last year. read


DAILY BRIEFING: NCC Group finance boss to stand down due to health reasons

Atul Patel, 49, has resigned from his post and will leave the cyber security firm on February 3, or earlier if a successor is found before then. read


CITY DIARY: Duke of Westminster leaves estate worth £9bn to his four children

His eldest daughter, auburn-haired Tamara, 36, is married to Blackrock managing director Ed Van Cutsem, 43, a close friend of Prince William and barrel-chested gym enthusiast. read


Barclaycard admitted it owes me £1,887 for mis-sold PPI but it won't pay up 

In 2013, I claimed against Barclaycard for a mis-sold In 2013, I claimed against Barclaycard for a mis-sold payment protection insurance (PPI) policy. My claim was rejected, and I accepted this. read


Drivers paying an 'ethnic penalty' on car insurance

The impact can push premiums as much as £450 higher than the national average, regardless of the driver's own ethnicity, the report suggested. read


Financial abuse afflicts 130k over-65s. Here are the warning signs

Age UK says those with dementia or reduced cognitive function are the most vulnerable, but adds that elderly women are twice as likely to be preyed on as men. read


HMRC sends pensioners threats and a nasty, bullying letter

After sending HMRC details of how much interest we had made and were paying, we were then fined £100 and when we appealed this it was rejected. read


NatWest makes loyal borrowers pay more by refusing to give them its cheapest home loans

Instead, borrowers go on to its standard variable rate (SVR) of 4 per cent at the end of their existing deals. It means a customer with £20,000 left over five years pays £368 a month. read


Scam warning: Crooks emailing fake British Gas bills containing computer viruses

The 'Trojan horse' viruses effectively lock people out of their computers and demand a ransom to allow them to get back in. The blackmail message carried by the virus directs victims to make a payment online. read


After the rate cut, here is where to find best accounts before they go

Early indications are that lenders have no intention of cushioning savers and are set to pass on as much as possible of the 0.25 per cent cut in Bank of England base rate announced last week. read


Cynical banks use rate cut to squeeze savers: two announce huge cuts

First Direct and M&S Bank stand accused of exploiting savers by announcing huge rate cuts. Official interest rates fell by 0.25 percent, but First Direct and M&S will cut by up to 0.4 points. read


Virgin Money and Family both launch miserly deals

Two new accounts give savers a taste of how little they can expect after the cut in base rate to 0.25 per cent last week. Virgin Money's easy-access Man Utd Red Devil Saver pays 1.05 per cent. read


American Express cuts rewards on its Platinum Everyday cashback credit card

American Express has cut the rewards on its Platinum Everyday cashback credit card - meaning customers will now earn up to £10 less a year. This is the latest blow for cashback shoppers. read


The tiny errors on travel cover forms that cost heart-attack victim Peter £36,000 

Every year Peter and Julie Haynes made sure they had travel insurance but when Peter did have a heart attack AllClear refused to pay the £36,000 bill for the treatment that saved his life. read


Number of investment trusts yielding 4% or more falls by a quarter as share prices rise in Brexit Britain

The strong performance of investment trusts' share prices post-Brexit has led to a fall in the proportionate level of income they can pay out. Just 14 trusts now pay a yield of 4 per cent or more. read


Usain Bolt takes stake in Suffolk-based insole company Enertor

Usain Bolt has become a minority shareholder in Enertor, an insoles business run by a team of four from Ipswich. They are now selling through Superdrug and hope to convert casual runners. read


Investment Association condemns 'hidden fees hysteria'

To counter claims hidden costs unfairly subtract from investment returns, detailed analysis of fund performance between 2012 and 2015 was released today by the Investment Association. read


ADRIAN LOWERY'S eight-point manifesto to bring aggressive drivers into line

The Government and insurers must take radical steps to help residents of rural and urban communities reclaim their neighbourhoods from the lorries, the lunatics - and the car thugs. read


Competition watchdog slammed by challenger banks for letting banking giants off the hook

The Competition and Markets Authority claimed that it has ordered Britain's banks to kick off a technological 'revolution' in a bid to make the industry more competitive. read


Families can't afford rent or mortgage for more than a month if they lose their job 

One in three families are just one pay cheque away from losing their home if they lost their job as they have little or no personal savings to fall back on, the research by charity Shelter revealed. read


Fans' fury as Ofcom caves in to TV giants: Premier League probe shut as price of TV deals and tickets soar

Regulator Ofcom shut down its investigation of the vast sums of cash exchanging hands for the right to show top-flight matches, because it required too much work. read


Morrisons to offer nationwide home delivery service for first time after deal with Ocado

At present, only around half of the UK population can get their shopping delivered by Morrisons, which does not cover areas like Scotland or the South West. read


How to claim back the tax on your ticket if you miss your flight

It's the stuff of nightmares for travellers – arriving late at the airport and missing their flight. However, what many don't know, is you can claim back Air Passenger Duty. We explain how... read


Will my friend be forced to sell her house if her husband, who has credit card debt and loans, dies before her?

Is a wife liable for her husband's debt when he dies? My friend's husband has a non-secured bank loan and credit card debts and she's worried she will be responsible for these if he dies first. read


After the failure of Lowcostholidays will travel insurance cover?

I’m about to book a trip abroad, but after the failure of Lowcostholidays I'm worried about what protection I have if my holiday company goes bust. Is it enough to just have travel insurance? read


Can I use Power of Attorney to sell my 95-year-old mum's house?

I have Power of Attorney for my mum who is 95 and in a care home. Is it OK for me to sell her house as the tenants renting it have given notice? read


Sainsbury’s Bank cuts the rate on personal loans to a market-beating 3.2% – but will rates go any lower?

The supermarket giant has shaved 0.1 per cent off its mid-sized loan rate to bring it in line with existing market leader Ikano Bank. read


Citizens Advice cashing in on desperate callers despite claiming to offer free advice

Some callers – who use the service for help with their pensions and in battling rip-off firms – are being billed more than £12 for a 20-minute conversation, an investigation has found. read


RACHEL RICKARD STRAUS: The government has gambled on house price rises

If house prices drop just ten per cent, borrowers will be off the hook for as much as £359million of loans taken out through the government's Help to Buy scheme. read


Entrepreneur who started firm a year ago sells to Walmart for £2.5bn

The deal is expected to trigger a mega payday for chief executive Marc Lore, (pictured), a former financier and Amazon employee who has already made two fortunes. read


Theresa May’s policy chief says wealthy pensioners should remortgage their homes

Theresa May's director of policy has said pensioners should downsize or remortgage their homes to pay for care bills as there is an 'awful lot of money' trapped in the value of older people's houses. read


Brexit gives UK tourism a boost as cheap pound

Undeterred by Britain's vote to cut ties with the EU, bookings from Europe for trips to the UK have increased by 5 per cent since the end of June. read


ROS ALTMANN: Find a better growth plan that doesn’t hammer savers

Middle England is being squeezed. It is time for a new approach, says Britain's former pensions minister. read


Legal & General to offer millions to build Gatwick runway

Yesterday, announcing the insurer's latest results, L&G chief executive Nigel Wilson said the firm had a vast war chest earmarked for public sector investment and urged ministers to choose sites. read


Firms set to put hiring and expansion on hold in wake of Brexit vote, says BoE survey

The Bank of England's latest survey revealed businesses across all sectors except manufacturing expect turnover to be knocked over the year ahead amid the Brexit vote fallout. read


Number of finance jobs in London drops by 27% in a year as Brexit fallout takes toll

While this monthly drop appears sizable, the annual picture is 'dismal', with finance jobs vacancies down 27 per cent on a year ago, Morgan McKinley said. read


Asia spurs growth at Prudential as investors shrug off losses at money manager M&G Investments

Profits were up across the group, although at its UK-based M&G Investments they dropped by 10 per cent to £225million in the first half of the year, as customers continued to withdraw their money. read


Peppa Pig owner Entertainment One rejects £1bn ITV takeover

Entertainment One owns the rights to the hit show Peppa Pig - which has turned into a global children's phenomenon. The cartoon follows the adventures of a pig along with her family and friends. read


William Hill rejects joint £3.6bn bid from Mecca bingo owner Rank

The three-way merger would see 888 acquire Rank in an all-share deal that would then offer to buy William Hill for 199p in cash and 0.725 shares. read


ALEX BRUMMER: Cracking the ARM lock before Britain's top tech firm is sold out

The clock is speeding up on Softbank's £24billion takeover of Britain's chip champion ARM and the concern must be that it will happen by default with no public venting of the arguments. read


What's the surprise if a bank boss betrayed his wife when ALL banks cheat their customers

This week, competition watchdogs are the latest regulators to excoriate Britain’s biggest banks, ordering them to provide a better service to customers online, writes ALEX BRUMMER. read


Share soar to record high at Boohoo as online fashion retailer lifts profit forecasts

The website, which sells clothes for 16 to 24-year-olds, brought forward its trading update and shares rose 6.4 per cent, or 4.75p to 79.25p. read


Icelandic financial firm GAMMA gains FCA authorisation to operate in Britain

Gamma Capital Management has won approval from the FCA to have its own license which would enable it to operate as a stand-alone business in the UK. read


Winners and losers from Dr Carney's crisis medicine and how to thrive

Bank of England Governor Mark Carney cut the base rate to a new historic low. Marc Shoffman and Laura Shannon look at how to thrive in the ultra low interest economy. read


Two escape routes if high charges and problems with a leasehold property leave you fed up or flat broke

Harry and Felicity Buchanan own a two-bedroom flat in a period stucco-fronted building in Pimlico, London. They, together with the other flat owners, purchased the building’s freehold. read


Why it pays to settle up in the local currency when holidaying abroad

As sterling falls a rip-off makes deals worse. Holidaymakers are being ripped off in a £380million scam – by making payments in pounds rather than the local currency. read


What are the investment prospects for the top 10 Olympic countries?

What are the prospects for investors in the world's best Olympic nations?Here, managers share what they think are the best opportunities on offer in the 10 countries who topped the table in 2012. read


MITON CAUTIOUS MONTHLY INCOME: The fund to win the race for dividends

Some funds, such as Miton Cautious Monthly Income, are designed to help those wanting a predictable income, while hopefully building up capital too. read


IG Design Group reduces reliance on the festive season

The stock has done well in recent months, but the company is only valued at £133million and the shares, at 218½p, should prove rewarding. read


Sheds could be masking a goldmine of forgotten items prized by collectors

The garden shed is far more than just a storage space for junk. It can also be a hideaway for a potential goldmine of valuables, writes Toby Walne read


SALLY HAMILTON: Act like Jaws to snap up juiciest savings deals

Research by savings comparison service Moneyfacts reveals the top-paying accounts vanish, often within days of their launch. read


TONY HETHERINGTON: Damned by Ofgem, now raided by police - beware of energy supplier BES

As a result of bullying, my wife agreed to what she thought was a five-year, fixed-price contract for gas and electricity with supplier BES. We soon found the price was not fixed. read


Savers are hit by even more cuts as the big banks cash in on slashed interest rates

HSBC was the first bank to clobber savers after the Bank of England halved rates from 0.5 per cent to 0.25 per cent on Thursday. Other banks including Halifax followed with cuts on some accounts. read


Can Blue Chip bonds still pay you an income? Fears interest rate drop will lock savers into risky investments

So intense is demand that this week a site launched offering individual savers access to big corporate bonds for as little as £100. Traditionally these have been a good way to get an investment income. read


Rate cut adds to pension woe as annuity rates spiral 13% since Brexit

Both annuities and final salary pensions, which provide retirees with a guaranteed income for life, are underpinned by gilt yields, which plummeted to fresh record lows after the rate cut. read


We always split the mortgage 50:50 but my friend wants more than half the profits now we're selling up

A friend and I bought a property ten years ago when we first moved to London for work and now we're selling - how should we split the proceeds when we put in different deposits? read


The property legacy of London 2012: Four years on, what’s it like to live in the Olympic village?

The high rises where the likes of Mo Farah and Jessica Ennis took up temporary residence in the summer of 2012 have a 95 per cent occupancy. read


Rip-off insurance fees that can double the cost of a holiday hire car 

Sales staff at airport pick-up desks are using high pressure tactics to charge around £30 a day for insurance to protect against huge bills of up to £2,500 if tourists are involved in an accident. read


Peugeot 205 GTI sells for record £31k: Six of the best modern classics

Identifying which cars will become modern classics sky-rocketing in value is something of an art form but, as the owner of this French hot hatch will tell you, it pays off when you get it right. read


Peer-to-peer lenders and investment platforms predict influx of new investors after record rate cut

The peer-to-peer loans and equity crowdfunding markets are celebrating the Bank of England's lowering of the base rate to 0.25 per cent in anticipation of an influx of new investors. read


Winners and losers from the Bank of England rate cut

Not everyone was pleased by the Bank's decision to cut rates. So which parts of the market will do well, which will do badly - and should investors alter their asset allocation or sit tight? read


Should I use a pension pot to pay off my mortgage? Steve Webb replies

Former Pensions Minister Steve Webb is This Is Money's Agony Uncle. This week, he replies to a reader thinking of tapping a pension pot to pay off his mortgage. read


Why is the Bank of England spashing out £10bn on corporate bonds?

In an effort to shore up the economy against a probable recession following the Brexit vote, the Bank wants businesses to keep borrowing, investing and hiring people. read


What is the Bank of England base rate

On the latest episode of the Big Money Questions show, we take a step back and ask, what actually is the base rate and what has it got to do with our household finances? read


Is there a housing crisis and how do people afford London homes? Property Show

Declining ownership is seen as another sign of property market in crisis, but is this true? Estate agent Ed Mead takes a look and reveals what's going on with house prices. read


Aviva research finds the amount parents give children for property ladder in each area

New research by insurer Aviva found that the average amounts given by those over 45 to their children and grandchildren differs significantly depending on where they live. read


House prices fall 1% after Brexit vote as housing market continues to lose steam 

The price of the average UK home dropped by just over £2,000 in the month to July to £214,678, reversing a 1.5 per cent increase in June, Halifax said. read


Will your mortgage rate be cut? Lenders can refuse to pass on interest rate cut

Around 1.5 million borrowers stand the chance to save money on their mortgage after the Bank of England cut the base rate a quarter of a per cent to 0.25 per cent. read


Cutting interest rates from 0.5% is a sign of abject failure

If we had managed to meaningfully reform our banks and escape our capture by the financial sector, the base rate wouldn’t still be frozen at 0.5%. read


Will interest rate cut mean more misery is on its way for savers?

Savings rates have crumbled, meaning returns savers can get on the high street are already at record lows - and that was before the Bank of England cut the base rate today. read


50 ways to save money....

This is Money's top 50 – updated – money-saving tips may appear light-hearted but are deadly serious. read


Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. read


The investment trusts that pay the highest income revealed

In this low-income world it can be hard to find mainstream investments paying a significant yield. Stifel has compiled a list of 19 investment trusts with a yield of more than 4 per cent. read


Fund and trust ideas for first time and cautious investors

If you are new to investing then the huge number of funds and investment trusts on offer can be confusing. Fortunately, This is Money's experts have some ideas to get you started. read


ISA INVESTING TIPS: Fund and trust ideas for income investors

Income investing can let you draw on your portfolio or reinvest dividends to build solid growth over time. Our experts give their fund and investment trust recommendations. read


ISA INVESTING TIPS: Emerging market funds and investment trusts

If you're looking to add some flair to your investing Isa with emerging markets, This is Money's experts have some ideas to get you started read


Will the UK be Norway, Switzerland or Canada? Brexit trade deals we could follow

Now that we've voted ourselves out of the EU, it's time to work out how we're going to trade in future with all its 27 member countries - and the other 27 countries it has deals with. read


Brexit means we'll find out how much the EU needs Britain's trade

It would have been nice to have a plan. Instead, after the Brexit vote we were left scratching our heads. But now it's time for some answers on trade and what we mean to the EU. read


What is the EEA and can UK join it? How to get free trade after Brexit

Even after Brexit it could still be possible for us to access the single market and the benefits that come with being part of it, but today we were warned there's a price to pay. read


When will UK interest rates rise?

Asked on Radio 4’s Today programme if there was a real prospect of a further cut in rates before the end of the year, the Bank's Ben Broadbent said, ‘that’s true’. read


What next for mortgage rates?

Markets went into turmoil following the momentous decision by the British people to leave the European Union on 24 June 2016 - but what does this mean for mortgage rates? read


Ten tips for buy-to-let

For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Read our top ten buy-to-let tips read


Compare your pay to the UK average across 350 professions

Musicians have seen pay rises averaging nearly 20 per cent in 2015, while cleaners are getting 17.8 per cent more, and window cleaners 12.3 per cent. read