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.
Click through latest news features
MONEY'S SIX OF THE BEST
Revealed: The bonus list that encourages hard sell sales culture among 'advisers' in the branches of Britain's biggest bank
This is Money today reveals the list of incentives offered to Lloyds TSB staff to push certain products. The whistleblower who disclosed the 'high pressure' sales environment in branches. We also tell the story of a Halifax customer who firmly asked for a short-term savings account but was given the hard sell on a longer term investment. ...read
DON'T MISS
- Divorce law reform may end right to equal share Plans to use new formula to divide assets.
- Shocking scale of tax-dodging bleeds Greece dry: Self-employed fail to pay £22BILLION in 2009 – a third of the country’s then deficit
- 'Go away, rich p****' France's wealthiest man sues paper for insult after he became Belgian to avoid 75% tax
- SAVINGS BEST BUY ALERT! Close Brothers fixed-rate bond priced at 3.75% The Premium Gold account is the top two-year rate
- Savers rush to snap up 6.25% returns on 'retail bonds' Two more firms join the throng - but you need to be quick
- State jobs vs private sector Higher pay, fewer hours and more holiday. And it's £14.88 an hour vs £11.60
- Could YOU make money from a Little Chef? The iconic roadside cafe chain is battling back with fry-ups and franchising
- What are your rights when paying with coins? Asda stopped a woman paying for her weekly shop with £2 coins
- 'I earn 6-7% return on upmarket flats I rent out - but I hope I don't have to sell soon!' Student buy-to-let market examined.
- Writing their way into a fortune The top 50 biggest-selling authors of all time.
- 'I spent £10,865 online and claimed back an incredible £7,272' Do cashback websites really give you money for nothing?
- Could you save with the Morrisons's new fuel discount loyalty scheme? It dishes out vouchers for 34 retailers, including Currys
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CITY & FINANCE - AND LATEST MARKET MOVES
FTSE LIVE: Crunch German ruling on bailouts awaited; Burberry reels after profit alert
Investors are showing caution in the run-up to a German Constitutional Court ruling on the legality of the eurozone's bailout funds tomorrow. But expectations are running high that the U.S. Federal Reserve will announce a third round of quantitative easing on Thursday.
Latest from Markets
- Supergroup shares on the way back up as its warmer jackets and sweatshirts prove popular in wet summer
- FTSE LIVE: Crunch German ruling on bailouts awaited; Burberry reels after profit alert
- Power Portfolio - track your real or virtual investments
- Burberry profit warning wipes 19% off shares, as even posh shoppers start feeling the economic chill
- UK back up to 8th in global ranking of best countries to do business - but will current policies take it higher?
- Primark says middle class shoppers are increasingly converting to its cut price fashions
- British companies planning to hire staff in growing numbers as 'extraordinary' jobs market defies recession
- Blair snaps up a nifty million bucks brokering Glencore's new 'take it or leave it' £22.5bn bid for Xstrata
VIEWS, TIPS & SPECIAL REPORTS
- OPINION: Good luck, Mr Deighton! You're going to need it Paul Deighton tasked to deliver the Government's 30-year infrastructure plan
- SMALL CAP FOCUS: Success on horizon for Horizonte Nickel explorer recently took a big step forward in proving potential of its project in Brazil.
- MIDAS SHARE TIPS: Hire firm Vp bounces back 'The management team is ambitious and the shares should rise'
- PHILIP GRAF INTERVIEW: The gambling industry must not be too afraid to find out who its problem gamblers are
MORE MONEY NEWS & ADVICE
British companies planning to hire staff in growing numbers as 'extraordinary' jobs market defies recession
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.
Higher pay, fewer hours and more holiday: State workers still enjoy advantage over private employees
Asda stops woman paying for weekly shop with £2 coins - so what are your rights when paying with coins?
She is the latest to have been pulled up for trying to settle a bill with coins. But Joanne Bath, of Gosport, Hampshire, had the law on her side. The amended 1971 Coinage Act states that 'gold' coins - £1 and £2 coins can be used to settle a bill of any amount but coppers can only be used to pay up to 20p. ...read
Savers rush to snap up 6.25% returns on 'retail bonds' that are closing early because of high demand
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.
Writing their way into a fortune: the top 50 biggest-selling authors of all time
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.
'I spent £10,865 online and claimed back an incredible £7,272': Do cashback websites really give you money for nothing?
Building worker Kevin Watson’s dedication to finding the best deal on almost everything he buys by using cashback websites means he is thousands of pounds better off. According to the website, Kevin has one of the best spending-to-cashback ratios of any of its 1.5million members at 67p for every £1 spent. ...read
How heavy drinking could add £2,000 a year to your pension
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.
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!'
Landlords such as Geoff Roland, who bought into Aspect Three, are making big returns from a boom in university accommodation with upmarket features. A number of factors drive the trend. Universities have lacked cash to build or maintain their own housing for years, creating severe shortages. ...read
Are supermarkets to blame for the devastation of independent petrol retailers by deliberately selling at a loss?
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.
CALCULATORS
'I've already lost hundreds in sales': eBay glitch that reverses PayPal transactions causing havoc for small businesses
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.
Thousands set to lose out as drugs giant Glaxo slashes pension benefits for UK workforce
The drugs giant becomes the latest in a long line of blue-chip businesses to take a knife to company pensions. This is Money has obtained a copy of pharmaceutical giant GlaxoSmithKline's plans today. This document began arriving through letterboxes only today, so many GSK workers will not yet be aware of their employer's proposed pension cutbacks. ...read
Average savings rate down 3.3% since Northern Rock collapsed: the winners and losers five years on from the financial crisis
BE YOUR OWN BOSS: SMALL BUSINESS SUCCESSES
Could you make money from a Little Chef? Iconic roadside cafe chain to battle back with fry-ups and franchising
Little Chef is attempting to revitalise the brand just months after being rescued from administration. Chief executive Graham Sims, who is spearheading the turnround plan, said he is about to sign up the first franchise operator, probably in East Anglia, for an outlet which should be open in the autumn. ...read
Mother-in-law's jam is a supermarket hit: Now couple sells £250,000-worth of Mammy Jamia a year
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.
THIS IS MONEY: ESSENTIAL GUIDES, TIPS & LOOPHOLES
- The pension trick that could land you a lump sum of £13,000
- Beat the big banks: How to exploit the best current account offers
- How to make your child a millionaire
- How to avoid a shock holiday roaming bill on your mobile phone
- Cashback vs rewards: Which really pays most on £1,000 of spending?
- Cheap way to get your holiday spending money
- Top ten 'like new' car bargains for 2012
- Is it worth protecting your no claims bonus?
- Tools and tips for first-time buyers
Latest reports from News
- Monsoon summer costs rural economy over £1bn as waterlogged crops fail and tourists stay away
- Can iPhone 5 save the US economy? Massive sales of smartphone 'could add 0.5% to growth'
- VIEWPOINT: Good luck, Mr Deighton! You're going to need it
- Mother-in-law's jam is a supermarket hit: Now couple sells £250,000-worth of Mammy Jamia a year
- DAN ATKINSON: Why nervous firms are sitting on cash worth £754bn
- 'Remarkable resilience' and flexibility of UK workers pays off as temp jobs rise for first time in 2012
- Could you make money from a Little Chef? Iconic roadside cafe chain to battle back with fry-ups and franchising
- How our Twitter joke helped boost sales 40% to £1.6m: Social media drive sales at jewellery firm Tatty Devine up
- TV shopping channel helped me sell 23,000 Ecoeggs in a day
- Coalition to torch health and safety red tape in bid for growth as desperate businesses call for growth plan
- Book with Thomas Cook, fly with easyJet... Struggling package holiday giant 'to buy thousands of seats on budget airline'
- Higher pay, fewer hours and more holiday: State workers still enjoy advantage over private employees
- Cash raised on assets booms as firms turn backs on bank lending
- West Coast mainline 'could be nationalised' as Virgin Trains delays franchise handover
ANSWERS FROM THE Experts
- ASK THE EXPERTS: I need £1m cover in case my tree's branches hurt anyone
- What has NatWest done with my late mother's £63,000?
- ASK TONY: Did the rollercoaster stock market knock £1,500 off my pension?
- What's the cheapest electric alternative to gas central heating for my buy-to-let property?
- HMRC has demanded £3,000 in tax from my disabled brother on income he was told was tax free
- 'I told Barclays I was on a cruise, but my card was still rejected by a cash machine in Malaysia'
- TONY HETHERINGTON: Blunder over transferred Isa was a joint effort
- My ex-husband left everything to one son - can his will be changed to give something to the other four children?
- ASK THE EXPERTS: What happens when the debt collector vanishes?
- TONY HETHERINGTON: NatWest shut my son's accounts, but refuses to give him any reason
- I'm terrified of losing money if I invest in high interest funds, but I really want to give up work. Are bond funds safe?
- I have three pension funds, can I pool them together or do I need to get separate annuities?
Latest from Investing
- SMALL CAP FOCUS: Success seems on the horizon for nickel explorer Horizonte
- Savers rush to snap up 6.25% returns on 'retail bonds' that are closing early because of high demand
- Make big income from the building of school, prisons and train lines: The infrastructure funds that pay up to 6%
- MIDAS SHARE TIPS: Specialist kit helps hire firm Vp recover from fall in profits
- MIDAS UPDATE: Shares in Ashtead Group double since our tip
- Investec Cautious Managed: Fund that invests in a mix of bonds, cash and shares has gone from strength to strength
- Robot funds were meant to be a safe option but some have a rogue life of their own - and it's costing savers thousands
- 'Lord Rothschild knows better than I do where to put his own money': Why little-known funds are opening up to small investors
- Cheapest index tracker funds
- MIDAS EXTRA UPDATE: Consort Medical shares nearly doubled in price since our tip
- How to strike it rich by investing against the herd like Warren Buffett: The personality test and tips for contrarian investing
- Invesco Perpetual Global Equity Income: Global team targets 'quality' income
- Sunday newspaper and magazine share tips
- MIDAS SHARE TIPS: Pop star Lisa B’s husband on song with warehouses
- Advisers face crackdown on pushing high-risk wine, crop and timber investments on less wealthy and unsuspecting clients
Latest: Mortgages & home
- Higher council tax for larger houses would help stabilize the market, claims charity report
- Summer home sales on even keel with prices steadier than expected but autumn should bring more activity, says RICS
- Lenders hike upfront mortgage fees by 70% in just four years as customers fall for low headline rates
- 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!'
- Banks refuse mortgages for older borrowers as they become increasingly risk averse
- £280m boost for first-time homebuyers as the Government pumps more cash into FirstBuy scheme
- First-time buyers: The essential tools and tips to help you get on the property ladder
- Planning rules and bureaucracy swept away so buildings can be extended without local authority permission
- Ten tips for buy-to-let: the essential advice for property investors
- House prices fell 0.4% in August and will 'tread water' for the rest of the year
- Another interest-only mortgage crackdown launched as Yorkshire BS tightens rules
- HSBC launches seven-year mortgage fix to help first-time buyers
Latest from Saving & banking
- Revealed: The bonus list that encourages hard sell sales culture among 'advisers' in the branches of Britain's biggest bank
- New Close Brothers fixed-rate bond is two-year savings best buy at 3.75%
- PPI complaints surge again to new record with under-fire Barclays the main offender
- Asda stops woman paying for weekly shop with £2 coins - so what are your rights when paying with coins?
- Santander forced to make U-turn on fees for business clients
- Victory for 230,000 Santander business customers after bank reverses decision to withdraw 'free banking forever' pledge
- One in three cash machines could disappear from rural areas in big banks shake-up
- JEFF PRESTRIDGE: Good riddance to a worthless old watchdog
- This is Money's five favourite best buy cash Isas for 2012
- What next for savings rates? Our expert on forecasting fixed bonds and variable deals
- Savers suffer diminishing returns as best easy-access accounts continue to slash rates
- Three simple steps to switch your current account to a better deal
Latest from Cards & loans
- Sainsbury's takes on High St banks with credit cards offering cashback and Nectar points
- 'Paying by card cuts the cost of our petrol and shopping': The best cashback credit cards
- 'I spent £10,865 online and claimed back an incredible £7,272': Do cashback websites really give you money for nothing?
- How to pick the right credit card for you and use it wisely
- Best credit cards for cashback and rewards
- How a poor credit score could ruin your chance of getting an iPhone 5 or smartphone contract
- OUR PICKS: Best 0% balance transfer credit card rates and deals
- Best credit cards for 0 per cent purchases
- Credit card lending sees biggest drop in six years as consumers pay off debts
- INVESTIGATION: Fake Wonga account fraudsters push debt onto unwitting victims who see bank accounts emptied
- Victims of claims conmen could win compensation of up to £30,000 for the first time
- Consumers can expect compensation from dodgy claims management firms in 2013 crack-down
LATEST ON HOUSEHOLD Bills
- Mobile operator Everything Everywhere unveils UK’s first 4G phone service today
- New clothes lines at Debenhams go on 'instant sale': How high street shops are slashing prices as recession bites
- Consumers warned to avoid energy price hike now, as Scottish Power and First Utility pull cheapest deals
- Household budget calculator
- Morrisons launches fuel discount loyalty scheme to get money off petrol
- As Bruce Willis sues Apple over iTunes bequest: who owns your digital music library if you break or lose an iPod?
- 'I had to wait SEVEN weeks for a refund': How to get compensation if your train is late
- Confusing supermarket pricing 'misleads' consumers, as 88% say clearer labels would help them find the best deal
- How raising a child up to the age of 11 costs more than £90,000: Average annual cost up 15% in five years
- How to beat supermarket tricks: New tool exposes the 'special offers' that are more expensive than paying full price elsewhere
- Nation's cleaning bill drops by £1.1 BILLION in two years as households cut down on home services to save money
- Do you suffer from 'roamaphobia'? Most holidaymakers don't use their mobiles abroad for fear of shock bills
Latest: money and Cars
- Are supermarkets to blame for the devastation of independent petrol retailers by deliberately selling at a loss?
- Petrol price probe launched as explosive evidence from whistleblower accuses oil firms of price fixing
- Happy motoring: Jaguar races to the top of car dealership customer satisfaction table
- Can using a comparison website to get cheap insurance quotes put a dent in your credit file?
- 'I discovered a deal I couldn’t afford to miss': How to drive a brand new bargain
- Is Britain becoming a nation of car renters? More opt to 'rent' new motors on finance that they never actually own
- Pothole fightback: One in eight motorists suffer damage from Council negligence – how you can grab compensation if you’re one of them
- UK motorists look away now: Venezuela tops the ten cheapest countries in the world for petrol - at 8p a litre
- The driver being sued for £1,100 because he REFUSED to make a fraudulent whiplash claim...
- JAMES CONEY: Car accident victims should not have to cope with lying firms trying to take advantage of their misfortune
Latest from Holidays
- Cheap train tickets: a simple system for buying rail fares
- Beaten cancer and need a holiday? Then your travel insurance could cost you £3,000
- Stop your holiday debts festering away at sky-high rates: get an interest free balance transfer card
- 'I was expecting a sea view but instead got a building site': What you can do when a dream holiday turns into a nightmare
- Hotel chains duping customers and ignoring government rules with online prices that exclude VAT
- Want a cheaper flight? Jetting off on holiday on a Tuesday could save a family £336
- Costa more money: Book before the end of August avoid Spanish holiday tax hike
- We're all going bust beside the seaside: The decline of British resorts from havens of fun to capitals of bankruptcy
- Why Londoners pay less for holiday cash than everyone else... and the other currency rip-offs holidaymakers face this summer
- Quarter of a million gap year travellers will see their money go much further in Brazil, Nepal and South Africa this year
- Summer scams con travellers into buying fake tickets that can't be honored
- How to make holiday spending go further: best foreign currency deals and cards
Latest from Pensions
- ‘Do you want to be a grandma or a glam-ma?’ New opt-out pensions to come with upbeat message
- How heavy drinking could add £2,000 a year to your pension
- Half of workers in the dark over auto-enrolment pension overhaul just three weeks before it begins
- Thousands set to lose out as drugs giant Glaxo slashes pension benefits for UK workforce
- Make 'past their sell-by date' pensions less frightening urges Saga boss, as she calls for radical revamp
- Equitable Life's 250th anniversary: Did anyone learn anything from its failure?
- Fears over new generation of lost pensions as one in six lose track of work funds
- Care home rooms can now cost over £30,000 a year, with prices rising at double the rate of inflation since 2011
- Top company bosses sat on average pension pot of £4.3m - while employees have just £40,000
- Make your grandchild a pension fund millionaire... by putting aside 'just £240 a month for 18 years'
Premium Bonds winners
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£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 |
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