News archive from 31 October 2012, page 15

Don't believe funds that claim you can't lose money: FSA crackdown on 'absolute return' investments

Don't believe funds that claim you can't lose money: FSA crackdown on 'absolute return' investments

Nervous savers are rushing to put their cash into funds designed "never to lose money'. Some £193million was invested in so-called "absolute return' funds in September - more than any other type of fund. The boom comes just as the City...

 
JAMES CONEY: A generation in peril...Older homeowners spend their life renting from the bank as they struggle to repay their mortgages

JAMES CONEY: A generation in peril...Older homeowners spend their life renting from the bank as they...

I've long had a hunch that there was a hidden log-jam in our property market. Time and again I hear tales of first-time buyers stuck in extended property chains that have fallen through after many months because someone higher up couldn't sell. Estate...

 

ASK TONY: I paid £6,000 into this policy, so why is it now worth nothing?

I have a with-profits insurance policy with Friends Life. I was very disappointed to receive an illustration showing that my policy has no surrender value or fund value. I have been separated from my husband for some time and was hoping to surrender...

 
VICTORY! Banks pledge to stop hiding interest rates on savers' online banking pages

VICTORY! Banks pledge to stop hiding interest rates on savers' online banking pages

Banks have started to listen to your concerns about being left confounded, cheated and confused. And already they are planning to bring in some of the reforms we have asked for in our Get Britain Saving campaign. In a key victory, RBS/NatWest and...

 

So what are your rights if Hurricane Sandy's wrecked your travel plans?

The devastation in New York caused by Hurricane Sandy has stranded thousands of British tourists - and left the travel plans of many others in turmoil. Even when the airports reopen, many travellers will be reluctant to fly to a city that is just...

 

The fixed-rate bonds that are worse than easy access deals

Payouts on fixed-rate bonds have plunged so low that many are now beaten by easy-access accounts. The terrible rates on fixed-rate bonds turns perceived wisdom on its head - banks and building societies traditionally pay higher rates for the longer...

 

US pressure mounts on ex-BBC chief

Further doubts have been expressed about whether former BBC director-general Mark Thompson is a suitable figure to take over as the new chief executive of the New York Times. Yesterday, NYT columnist Joe Nocera asked questions about the type of...

Scotsman, 01:52 in Hot News
 
The over-50s mortgage trap: Older owners face losing their homes as they struggle to meet repayments

The over-50s mortgage trap: Older owners face losing their homes as they struggle to meet repayments

Tony and Pam Hughes never dreamed they would fail to pay off their mortgage. But after 30 years of paying interest to the bank and having retired, they were still £40,000 short. It left them with a terrible dilemma: they would have to move out of the...

 
REVEALED: 'Where's my £6,000?' Old passbook accounts vanished at Santander as bank stands accused of losing life savings of customers

REVEALED: 'Where's my £6,000?' Old passbook accounts vanished at Santander as bank stands accused of losing...

Santander customers desperate to trace cash in old passbooks are being routinely fobbed off - and deprived of thousands of pounds. Inept staff and a lack of records have led to customers with passbook accounts regularly being rejected when they try to...

 

£300,000 target for vintage ‘Beatle’

A VINTAGE Aston Martin DB5 owned by Sir Paul McCartney in 1964 is expected to fetch more than £300,000 at an auction today. The car is one of 93 classics going under the hammer at Battersea Park, London in a sale that could raise £18 million.

Scotsman, 01:52 in Hot News
 
Halifax offers £100 gift to anyone switching to its accounts

Halifax offers £100 gift to anyone switching to its accounts

Halifax is paying £100 to anyone who switches to one of its current accounts before December 2. Not surprisingly, you cannot simply open a Halifax account and tell the bank you're moving across. Instead you must ask Halifax to transfer an existing...

 
Thousands of Square Mile jobs under threat as UBS confirms 10,000 axes worldwide

Thousands of Square Mile jobs under threat as UBS confirms 10,000 axes worldwide

UBS is slashing thousands of jobs in the UK in a major blow to the City of London. This includes around 100 traders who discovered their passes weren't working when they turned up for work yesterday morning. The Swiss bank - which is still reeling...

 

MARKET REPORT: All eyes are on luxury goods amid rumours over LVMH deal

Rumours of a trendy mega deal in the multi-billion pound luxury goods sector have been rife for months. As evidence mounts that the Asia-driven luxury engine could be starting to splutter, speculation continues that one of the major European players...

 

Banks 'fail to deal with PPI complaints': Financial Ombudsman says lenders reject legitimate customer disputes

Banks are still failing to investigate complaints about payment protection insurance properly and rejecting legitimate disputes from customers, the Financial Ombudsman told MPs yesterday. The independent disputes arbitrator said lenders' claims that...

 

A Dudley dividend to cheer investors: BP boss rewards 'very patient' shareholders despite profits dip

BP boss Bob Dudley has rewarded "very patient' shareholders with a bigger dividend, despite a dip in profit. The battle-scarred oil giant posted third-quarter earnings of £3.2billion, stripping out oil price movements, down on £3.4billion for the...

 


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