Can iPhone 5 save the US economy? Massive sales of smartphone 'could add 0.5% to growth'

Ready for launch: The Yerba Buena Centre in San Francisco has been given an Apple makeover for the hotly anticipated presentation

Sales of the next generation smartphone could add between a quarter and a half percentage point on to fourth quarter growth for the world's biggest economy, according to J.P. Morgan. Chief economist Michael Feroli said, 'Calculated using the so-called retail control method, sales of iPhone 5 could boost annualized GDP growth by $3.2billion, or $12.8billion at an annual rate,' Feroli wrote.

Higher council tax for larger houses would help stabilize the market, claims charity report

Contentious: The charity believes it would help keep house price inflation in check, but others think it is unfair because poorer people whose property value has risen over time would be penalised

Research carried out by the foundation revealed those living in a £320,000 house will typically pay only twice as much as those living in a £68,000 property, despite it being four times as valuable.

Consumers warned to avoid energy price hike now, as Scottish Power and First Utility pull cheapest deals

Going up in flames: the cheapest energy deals are disappearing fast as experts warn consumers they must act now to avoid price hikes

Time is running out for consumers to snap up a cheap energy deal as suppliers begin to pull their best tariffs and experts warn of across the board energy price rises by the end of the year.

Divorce law reform may end right to equal share with plans to use formula to divide assets

Proposals: A divorcing husband or wife could be allowed to keep all the property and cash they owned before their marriage

The proposal being mooted by the Law Commission would end the long-standing presumption that former spouses share the proceeds of their marriage equally.

Monsoon summer costs rural economy over £1bn as waterlogged crops fail and tourists stay away

After the deluge: The burden of losses was carried by farmers in terms of failed crops and storm damage

Between waterlogged crops, rising vet bills and machinery damage, farmers lost £600million, according to a new report.

PPI complaints surge again to new record with under-fire Barclays the main offender

Claims: All banks saw rises in the number of PPI complaints but it was Barclays which saw complaints increase the most.

Bank customers are complaining about the service and products they receive in higher numbers than ever before, with the financial ombudsman now receiving 1,500 complaints every day about payment protection insurance alone.

Burberry profit warning wipes 19% off shares, as even posh shoppers start feeling the economic chill

Iconic brand: Eddie Redmayne and Cara Delevingne promote Burberry in a saucy ad campaign

Investors fled the stock, taking £1billion off its value, after Burberry admitted sales ground to a halt and then started to fall in the past few months.

Revealed: The bonus list that encourages hard sell sales culture among 'advisers' in the branches of Britain's biggest bank

Points target: Staff have a sheet of products which garner different points - if they hit target, they obtain a bonus

Youngsters expect to be 40 before buying home as many are forced to rent or live with parents

Official figures show a third of recent first-time buyers in England were over 34

In the 1960s, the average first-time buyer was aged 24. This rose to 28 in the 1980s but now many young people say they do not expect to be able to buy until they are 35.

Petrol prices up 9p in two months as refiners take bumper profits

Motorists are facing soaring costs for a tank of petrol as a time when prices usually drop, the AA said

The AA’s president Edmund King, accused speculators of contributing to the rocketing cost of petrol in the UK at the time of year when pump prices traditionally drop.

UK back up to 8th in global ranking of best countries to do business - but will current policies take it higher?

The best places to do business

The World Economic Forum says Britain is the eighth most competitive country in the world. Ministers need only look at the problems the WEF identifies to see what needs to be done to boost business and the economy.

Summer home sales on even keel with prices steadier than expected but autumn should bring more activity, says RICS

Rise and fall: House prices fell by about a fifth at the start of the financial crisis and have recovered around half of those losses

The number of homes sold over the summer months held steady, despite a slight slowdown in August, when prices fell more slowly than expected, according to The Royal Institution of Chartered Surveyors' (RICS).

Primark says middle class shoppers are increasingly converting to its cut price fashions

Primark: Ingredients for a bumper year

The retail group, which is owned by Associated British Foods, is one of the few chains on the High Street to emerge unscathed from the wet summer and the distractions of the Olympics.

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British companies planning to hire staff in growing numbers as 'extraordinary' jobs market defies recession

Jobs boost

A survey by recruitment firm Manpower today showed the outlook for jobs is the strongest it has been for four years. It said businesses of all sizes are taking on workers despite the country languishing in the longest double-dip for more than 50 years.

Lenders hike upfront mortgage fees by 70% in just four years as customers fall for low headline rates

Fee rip-off: Despite headline mortgage rates falling, fees have increased dramatically at the same time

Lenders are keen to gain money at the outset of a mortgage deal rather than hoping the borrower will stay the term. Meanwhile, low headline rates attract borrowers, who are then sucked in to paying the high upfront fees.

Higher pay, fewer hours and more holiday: State workers still enjoy advantage over private employees

In it together?: Workers in the private sector face longer hours and lower salaries than their state sector counterparts.

The Reform think-tank found public sector workers earns £14.88 an hour for 31 hours and 12 minutes per week, yet the typical private sector worker earns £11.60 and must work an extra three hours

'Remarkable resilience' and flexibility of UK workers pays off as temp jobs rise for first time in 2012

Boost: Healthcare workers were the most sought after type of employee last month

Demand for staff from private firms increased, especially for short-term contracts, with healthcare workers the most sought after employees in August.

Asda stops woman paying for weekly shop with £2 coins - so what are your rights when paying with coins?

Frozen out: Ice cream lady Joanne Bath, was turned away at the checkout of her local Asda store when tried to pay for her £100 shop with fifty £2 coins

Savers rush to snap up 6.25% returns on 'retail bonds' that are closing early because of high demand

Higher returns: Retail bonds are proving popular because interest rates are better than people can get on savings products

Fund manager ICG and insurer Beazley have joined the rush of firms raising cash by issuing 'retail bonds' - which are popular because rates are better than on savings products, although they are riskier. The money you make back depends on the firm involved not going bust and you are not protected by the UK's £85,000 Financial Services Compensation Scheme if the worst happens.

New Close Brothers fixed-rate bond is two-year savings best buy at 3.75%

Best buy: The Close Brother Savings deal has fired it straight to the top of the fixed-rate league table

The Premium Gold account, which is offering a 3.75% rate, beats the next closest offering, from the Post Office, by 0.24 percentage points.

Banks refuse mortgages for older borrowers as they become increasingly risk averse

Concerned: Mortgage broker Caroline Burke

Brokers like Caroline Burke (pictured) are reporting banks refusing to lend to some borrowers in their 60s and even in their 50s if the loan stretches beyond traditional retirement age.

Book with Thomas Cook, fly with easyJet... Struggling package holiday giant 'to buy thousands of seats on budget airline'

The debt-burdened package holiday giant could soon be sending customers on eayJet flights

In a groundbreaking tie-up, the UK's second-biggest travel company - which is struggling with its debt burden - will use the easyJet seats as part of its package holidays for next summer, a report claims.

Writing their way into a fortune: the top 50 biggest-selling authors of all time

Cooking up a fortune: Jamie Oliver, pictured with his wife Jools, has come second in the list of the top 50 most valuable authors compiled by The Bookseller

Jamie Oliver has been named as Britain's second biggest-selling author since records began. The TV chef is ranked second only to Harry Potter author JK Rowling. The father of four - whose bestsellers include recipe books The Naked Chef and Jamie's 30 Minute Meals - has racked up book sales totalling £126 million.

As Bruce Willis sues Apple over iTunes bequest: who owns your digital music library if you break or lose an iPod?

Up on the downloads: Rita Ora's new album has hit the No.1 spot

Millions of music and book lovers regularly download digital files such as songs by chart-topper Rita Ora. But do they really own them? And what happens if a laptop containing a valuable record collection is stolen?

'Paying by card cuts the cost of our petrol and shopping': The best cashback credit cards

Savings: Amy Baker and her boyfriend Ben Moore

Among the best cashback credit cards are American Express Platinum Cashback, Capital One Aspire World MasterCard, Santander 123 MasterCard and Creation Financial Services Cashback MasterCard.

'I had to wait SEVEN weeks for a refund': How to get compensation if your train is late

Frustrating: Chris Spann had to abandon a trip and drive instead

A ‘Delay Repay’ compensation scheme means that passengers delayed by thirty minutes to an hour can claim a 50 per cent refund for a single ticket. Chris Spann got a full refund, but only after waiting seven weeks.

‘Do you want to be a grandma or a glam-ma?’ New opt-out pensions to come with upbeat message

Catchlines: Lucy Richards, left, and Lynne Newton are NEST pension ad winners

October 1 marks the launch of pension ‘auto-enrolment’. Lynne Newton and Lucy Richards responded to a NEST campaign on how best to advertise its role and encourage people to save.

'I spent £10,865 online and claimed back an incredible £7,272': Do cashback websites really give you money for nothing?

Unearthing cash: Kevin Watson seeks out the best website deals

How heavy drinking could add £2,000 a year to your pension

Boost: Those who drink more than four bottles of wine or 15 pints of beer per week could qualify for up to £2,000 a year more than somebody who is clean living

Insurance companies have indicated they will look at lifestyle factors when determining annuity rates, as well as long-term health issues already taken into account. People exhibiting signs of serious liver damage caused by heavy drinking could see their payouts boosted by as much as 40 per cent.

Morrisons launches fuel discount loyalty scheme to get money off petrol

Buying gift cards at Morrisons will earn shoppers petrol discounts

Under the Fuel Saver Scheme, customers can buy shopping gift cards at Morrisons’ tills for 34 retailers including Currys,

One in three cash machines could disappear from rural areas in big banks shake-up

Fightback: Kick-boxer Alex Sanchez-Garcia is angry access to ATMs could soon be hit

There are growing fears that Lloyds TSB and RBS’s decision to restrict some customers to using only their bank’s cashpoints will have adverse knock-on effects. Alex Sanchez-Garcia says regular access to cash is important.

Student buy-to-let: 'I'm getting 6-7% return on the upmarket flats I rent out - but I hope I don't have to sell soon!'

Armchair: Geoff Roland does not have to manage his investment

Are supermarkets to blame for the devastation of independent petrol retailers by deliberately selling at a loss?

A disused and derelict petrol station.

Supermarket price wars are devastating Britain’s small petrol stations owners, with claims that one a day is going out of business. Sainsbury’s, Tesco, Asda and Morrisons have this year embarked on an unprecedented war to attract hard-hit consumers and the cost of fuel has been central to their campaign.

New clothes lines at Debenhams go on 'instant sale': How high street shops are slashing prices as recession bites

The winter sale is starting in some stores in London where the summer sale has not even finished

It is the first time new merchandise has been reduced in price as soon as it hits the shop floors in some stores. The unprecedented move follows declining sales this summer.

ASK THE EXPERTS: I need £1m cover in case my tree's branches hurt anyone

7 Aug b.jpg

There is a large beech tree in my garden which is now the subject of a park preservation order. I have been told I need £1m of public insurance in case a falling branch hurts someone or causes damage. Where should I go?

'I've already lost hundreds in sales': eBay glitch that reverses PayPal transactions causing havoc for small businesses

Juliet Johnson (second from the left) with her staff, says her business has already lost several hundred pounds as a result of the glitch

The technical issue, which eBay has been aware of and it says it is trying to fix, incorrectly informs purchasers that the items are unavailable, and when they then check their PayPal accounts the transactions show up as having been reversed. Juliet Johnson, who runs an animal gift themed eBay store from a warehouse in Somerset, says that she has already lost several hundred in sales as the glitch scares off customers.

Win an iPad worth £400: Enter our essay competition on financial future

Delight: Romy Barton with her prize from last year's competition

Focusing hard on their financial futures will give the nation’s secondary school students the chance to win one of the latest iPads in our fabulous new competition. Romy Barton won last year's competition.

Sainsbury's takes on High St banks with credit cards offering cashback and Nectar points

Sainsbury's already has four credit cards on the market

The supermarket group already offers mortgages, savings, insurance and four credit cards, but says the new cards will offer higher rewards. But both new cards have high interest rates.

£280m boost for first-time homebuyers as the Government pumps more cash into FirstBuy scheme

Boost: The Government is pumping more cash into its FirstBuy scheme

FirstBuy allows qualifying buyers to buy a new-build property with a mortgage of just 75 per cent of its value.

INVESTING IDEA 1: A strong fund that's a ready-made portfolio, investing in bonds, cash and shares

Fund focus

Alastair Mundy has just celebrated ten years in charge of Investec Cautious Managed. Now it is a £2bn fund and over the past ten years investors have enjoyed overall returns of 97%

INVESTING IDEA 2: Make big income from building prisons and train lines: Infrastructure funds pay up to 6%

Infrastructure on track

Jason Hollands at independent financial adviser Bestinvest says up-and-running 'physical' infrastructure such as schools are a major attraction for investors.

Thousands set to lose out as drugs giant Glaxo slashes pension benefits for UK workforce

Under the knife: Thousands are set to lose out as GSK slashes pension benefits for its UK workforce

Care home rooms can now cost over £30,000 a year, with prices rising at double the rate of inflation since 2011

Rising costs: Care home room fees have increased at twice the rate of inflation in the last year

The 5.6 per cent increase in prices has meant that the many over 55s savings would only be able to cover the cost of residential care for seven months.

Average savings rate down 3.3% since Northern Rock collapsed: the winners and losers five years on from the financial crisis

Northern Rock collapse

Who have been the financial winners and losers almost five years on from the dramatic banking collapse?

Make 'past their sell-by date' pensions less frightening urges Saga boss, as she calls for radical revamp

Radical revamp: Pensions need to be made more attractive to workers to encourage saving, argues Ros Altmann

Speaking as the Government prepares to begin its landmark auto-enrolment scheme, Dr Altmann said that pensions are seen as 'final and quite frightening'.

JEFF PRESTRIDGE: Good riddance to a worthless old watchdog

jeff prestridge

The demise of the ineffective, expensive and bureaucratic Financial Services Authority cannot come soon enough.

DAN ATKINSON: Why nervous firms are sitting on cash worth £754bn

Dan Atkinson

At a time of near-zero interest rates, this cash hoard is in effect a £754billion wager that the British economy will not recover any time soon.

RUTH SUNDERLAND: Bringing jobs and taxes back home

Ruth Sunderland

The pre-crisis orthodoxy was that a company has a duty to shareholders to minimise wage and tax bills. But it is an idea that has reached its limits. Business 'success' that harms a company’s home country is hollow.

LISA BUCKINGHAM: ECB misfires but may still hit its target

 LISA BUCKINGHAM

Markets rallied after the ECB's 'big bazooka'. However, money does not come free. And to keep Germany even reluctantly at the table, Draghi made it clear that there would be ‘conditionality’ attached.

Could you make money from a Little Chef? Iconic roadside cafe chain to battle back with fry-ups and franchising

Taste for success: Graham Sims with the popular Olympic breakfast

Mother-in-law's jam is a supermarket hit: Now couple sells £250,000-worth of Mammy Jamia a year

Tasty sales: Andrew and Sajmira Cairns with their preserves

Don't be afraid of going direct to the supermarkets - that's the message from the couple (pictured) behind a range of preserves launched after Andrew Cairns' mother-in-law gave him a gift of homemade fig jam. Andrew, 35, and his wife Sajmira, 27, loved the taste, so they launched Mammy Jamia’s using her recipes.

How our Twitter joke helped boost sales 40% to £1.6m: Social media drive sales at jewellery firm Tatty Devine up

Trending: Harriet Vine, left, and Rosie Wolfenden of Tatty Devine

Harriet Vine and Rosie Wolfenden (pictured) expect sales at their jewellery firm, Tatty Devine, to rise nearly 40 per cent to £1.6million, thanks to its regular use of social media.

Santander forced to make U-turn on fees for business clients

U-turn: Santander small business customers will not be forced on to fee-paying accounts

Santander has been forced to climb down over its plans to force all small business customers on to fee-paying accounts.

TV shopping channel helped me sell 23,000 Ecoeggs in a day

Showtime: Rob Knight and the eggs

Rob Knight (pictured) and Dawn White are cleaning up after promoting their Ecoegg laundry pellets on television shopping channel QVC.

Cash raised on assets booms as firms turn backs on bank lending

Support: Asset-based finance is popular with companies in the manufacturing, distribution and services sectors

The number of firms using asset-based finance to raise money rose by four per cent in the last quarter compared with the previous year.

Premium Bonds winners

September 2012
Prize value Winning bond No. Area
£1,000,000 166RG870415 Hertfordshire
£100,000 184GC941296 North Yorkshire
£100,000 163DH829267 Norfolk
£100,000 102BQ390807 Kent
£100,000 162SZ674836 Inner London
£100,000 144XX012129 Leicestershire
£50,000 174WQ308404 Barnet
£50,000 149SL005276 Merseyside
£50,000 80PM970489 Kent
£50,000 167LY348613 Inner London
£50,000 186PG402599 Inner London
£50,000 147QR177757 Lincolnshire
£50,000 85WW032065 Outer London
£50,000 186PV753485 Stoke-On-Trent
More Premium Bonds winners

Interest rates predictions: Markets move back forecast of a rate cut from November to March

Bank of England in London

We explain the factors that will decide when interest rates rise - and how quickly, including the latest forecasts from markets and economists.

Property market struggles to stay above water: What next for house prices?

Houses and bar charts

The property market has been buffeted by the struggling economy, banks fears and the distortion of the end of the first-time buyer stamp duty holiday. But can house prices continue to hold their own. We analyse the latest reports.

What next for mortgage rates and should you fix?

Houses and calculator

Mortgage rates are bouncing around near record lows once more after a fresh bout of cuts. So should you take a fixed or tracker deal? Read our latest analysis.

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