Incoming Bank of England governor, Mark Carney, indicated at the World Economic Forum in Davos, Switzerland, that he was prepared to see inflation, which is currently running at 2.7 per cent, remain higher than the government's two per cent goal for longer if it means output can be increased faster.
Insurer Admiral could buy law firm to snub ban on flogging customer crash details
Click through latest news features
'We weren't told about the £450,000 exit fee': Thousands of firms are gearing up to fight the banks over complex loans
The FSA has been investigating interest rate swaps, and bank critics hope it will open the way for an estimated 40,000 companies to launch claims. Among those complaining are Colin Aldous and his wife Julie, who run Ufford Park golf and spa hotel in Suffolk, a £5million-turnover business. ...read
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- Should Britain stay in the single market? The key questions that will affect our EU balance sheet.
- Revealed: The £200m pension pot raiders who target needy Cold-calling firms make 2m nuisance calls a MONTH targeting Britons over pension money
- Compare the (job) market: Aleksandr the meerkat faces unemployment after being cut from wildly successful adverts
- LISA BUCKINGHAM: Admiral sinks to new low in crash racket Admiral is unlikely to be alone.
- Hackers took hundreds of private emails - and set about ripping off all my friends BBC's Ed Stourton fell victim to fraudsters who stole his identity
- 'We secured a low-rate five-year fix': Home loan freeze is thawing - but not for first-time buyers without a big deposit.
- Sunday newspaper share tips: Dogs of the Footsie, AstraZeneca and Tullow Oil
- Goodbye Tony the Tiger? Huge fall in sales of Kellogg's Frosties as anti-obesity drive kicks in
- The same material as trunks, its makers say it dries in minutes But... would YOU splash out £995 on the swim suit?
- TONY HETHERINGTON: Insurer refused to pay out after our 'lost' foster girl stole wife's gems.
- ALEX BRUMMER: Personal betrayal by banks as clients still receive lousy quality of basic services
- Bank boss defends tax dodge Goldman Sachs chief Lloyd Blankfein defends aborted plan to dodge tax on bonuses as being like shrewd house-selling.
- RUTH SUNDERLAND: Next BoE chief Mark Carney can never cure all of our ills Government cannot just outsource its problem to the Bank.
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CITY & MARKETS
TAKING STOCK: City awaits shale gas news as Shell is set to unveil profits rise
The energy giant will deliver on profits, at least if it is sheer scale you are after rather than the soaring increases of previous years. The City reckons it will report annual profits of £18billion – which works out at about £2million an hour, every hour, every single day of the year.
Latest from Markets
- Sir Mike Rake to step down as easyJet chairman
- Drugs giant AstraZeneca looking to inject new life into its product pipeline
- Hilco set to open stock deal negotiations with entertainment giants to salvage HMV
- Now children get their own deodorant 'Keep It Kind' range
- Marble miner Fox soars 18% as Kosovo licences are restored
- Mitchells & Butlers expected to unveil solid Christmas trading figures
- BSkyB to deliver news on take-up of online movie service
- Amshold profit drop of £20m is sour result for Lord Sugar
- Sir Michael Rake to step down at easyJet following turbulent tenure as chairman
- Profit alerts running at highest rate since financial crisis began, warns Ernst & Young
- Santander UK set to humble Spanish parent with a rise in profits
- Sunday newspaper share tips: Dogs of the Footsie, AstraZeneca and Tullow Oil
MONEY NEWS & ADVICE
A 60% rise in the FTSE All-Share in only two years? Optimism over equities gathers pace
At the start of 2013, with a number of potentially calamitous global events safely behind us, one message is emerging ever more clearly: it is time to take more risk - and that means investing more in shares.William and Lynn Faith (pictured) invest in a trust with VinaCapital Vietnam. ...read
'Toothless? I could make a bullying supermarket pay millions': First supermarkets watchdog Christine Tacon starts work
Christine Tacon was appointed as the Groceries Code Adjudicator last week. One of her first jobs will be to formalise last month’s announcement that the watchdog will be able to fine transgressors.
'We secured a low-rate five-year fix': Home loan freeze is thawing - but not for first-time buyers without a big deposit
In the past ten days, at least 12 lenders have cut rates on all or some of their home loans. Some, like Nationwide, Coventry and Skipton building societies, have been reducing rates almost weekly. Alistair Brown and his wife Liz have just remortgaged with NatWest to a five-year fix of 2.95 per cent. ...read
ASK THE EXPERTS: Bank snubs my divorce payouts for mortgage
I am in the process of finalising a divorce. I want to carry on in our existing home, using maintenance payments from my ex-husband and my earnings to repay the mortgage. But the bank will not count the maintenance as my income. Is it being unreasonable?
MADE IN BRITAIN: Financial Mail wins praise for fantastic 'fantastic awards'
Business Secretary Vince Cable praised Financial Mail last week for putting together a celebration of small firms and British manufacturing with our first Made in Britain awards. Speaking at the awards ceremony in London, Cable said: 'It is absolutely the right and important thing to be focusing on the many success stories in British manufacturing, in particular the many smaller companies who are growing rapidly and contributing to job creation and the recovery of the economy.'
Bootle the buy-to-let boomtown: Merseyside district tops list of UK's most lucrative areas for landlords
It offers the best return on investments, with landlords getting an annual yield of 8.3% on their initial purchase, data from Home.co.uk reveals. On the flipside, affluent areas of London are the worst for investors when it comes to rental yield.
'My nephew bought a £500 trip to Nepal': Smartphone users warned over apps that can spend hundreds at the click of a button
Helen Gaze, a child daycare manager, often allowed her 5-year-old nephew, Harry, to play with her mobile phone. But one day he strayed from looking a photos and playing games to a discount shopping app. He accidentally purchased a £519 trip to Nepal and the 29-year-old only realised when she spotted the money missing from her account.
LEE BOYCE: Using just my name and address a fraudster took £1,000 of Wonga loans - yet it won't reveal how this can happen
I have been a victim of fraud, yet it wasn’t willing to tell me how it had happened. Did Wonga take my case seriously? And is it helping those who suffer similarly as it should? The barriers put up when I tried to find out are not encouraging.
'I paid off my Virgin credit card TWICE but got hit with £100 in charges': How phantom interest can ruin your credit score
Money moral: Should I keep chasing my builder for a bill so I can pay what I owe - or forget about it?
A year ago I had some good quality building work done on my house yet in spite of asking several times, the company won't send a a bill. I am wondering how many more times should I keep asking for a bill - surely the company (it is a small outfit) must have records of customers jobs and what is owing? ...read
Former Savoy chef makes a fortune selling stake in baby food company she founded
Susie Willis who set up Plum after failing to find decent baby food products for her children will make a second fortune after selling her remaining stake in the business. The business has now been sold to an American privately-owned baby food firm, which happens to have the same name, for a sum thought to be between £10million and £20million.
Want to invest a little each month with your bank? Then you'll need £50k - or to fork out hundreds in charges
Diligent savers keen to trickle some of their salary into an Isa or pension each month are being refused help on the High Street, a Money Mail investigation has found. Britain’s biggest banks and building societies are routinely turning away those who want advice on how to save less than £250 a month. ...read
Cautious car owners can avoid paying the same sky-high insurance as boy racers by proving they can drive like women
A new insurance firm called Drive Like A Girl promises to slash premiums for all customers - regardless of gender - if they drive smoothly, avoid rapid acceleration and harsh braking. These qualities are typically exhibited by female drivers, insurers’ statistics reveal.
ASK TONY: I signed up for cheap foreign calls with Vodafone - then they were cancelled
Vodafone withdrew a service called Vodafone Passport — which let me make and receive calls while in Europe for a single charge of 75p. I am an airline pilot and spend on average 15 days a month in Europe. Vodafone has instead introduced a product called EuroTraveller, which costs £3 to take your domestic tariff abroad. I am just over halfway through my 24-month contract with Vodafone and am left with the prospect of increased telephone bills. Can I end my agreement?
MORE BUSINESS, CITY AND ECONOMY NEWS
Europe being left behind in global race, warns PM as unemployment reaches 26% in Spain
David Cameron told the World Economic Forum in Davos that Europe was being ‘out-competed, out-invested and out-innovated’ and needed to change. The Prime Minister said it was time to make it an engine for growth.
YOUR MONEY ESSENTIALS
When will UK interest rates rise? Markets suggest Bank will not hike rates until 2014 at earliest
We explain the factors that will decide when interest rates rise - and how quickly, including the latest forecasts from markets and economists. ...read
Latest: Mortgages & home
- 'I know the loan will not increase in size': Pensioners forced to release cash in their homes to pay the mortgage
- 'We secured a low-rate five-year fix': Home loan freeze is thawing - but not for first-time buyers without a big deposit
- Bank's figures set to show signs of life in mortgage market
- Northern Britain behind cities house price boom as cost of property in Aberdeen DOUBLES in 10 years
- The tax breaks (and traps) to watch out for if you work from home
- Stamp duty to bill to hit £7,500 for average homebuyer as official figures undercook actual house prices by £90,000
- Burglary hotspots revealed: Those living in corners of London and Leeds are the most likely to claim on insurance policies
- Property market gets a mortgage boost but struggles for direction: What next for house prices?
- Record low rates let borrowers fix below 2 per cent. What next for mortgage rates and should you fix?
Latest from Investing
- MIDAS SHARE TIPS: Revived Dogs snap at heels of the Footsie
- A 60% rise in the FTSE All-Share in only two years? Optimism over equities gathers pace
- Oil firm Enquest tempts savers with retail bond offering a 5.5% return - should you bite?
- Watchdog probes ICAP over Libor sending shares tumbling
- Want to invest a little each month with your bank? Then you'll need £50k - or to fork out hundreds in charges
- JAMES CONEY: Cautious investors looking for advice are left stranded by greedy banks
- How to invest in funds, investment trusts and ETFs - and save money as a DIY investor
- INVESTING IDEAS: How you could bag a stylish return by investing in small firms - but are AIM shares too risky?
- Standard Life UK Equity Unconstrained: Fund with freedom to invest returned 42% in 2012
Latest from Saving & banking
- Co-op launches trust to protect customers' Christmas savings
- You think banking is free? Banks and building societies make £139 a year on each of the UK's 61 MILLION current accounts
- Savings trick: Grab a minimum 4.3% return on your money as well as First Direct's £125 current account sweetener
- Customers spared £1bn in overdraft fees from bank charge reforms - but we all pay more if we slip into the red
- COMMENT: Libor banking scandal that won't go away
- NS&I; provides cheer for savers as it moves 94,000 customers from old accounts to its Direct Isa - giving them a 1.75% rate boost
- Shut savings accounts that are being targeted in the rate cut frenzy
- Banks spying on customers and monitoring their spending habits to sell targeted online advertising
- Margaret Edge banked with Barclays for 68 years - yet it claimed she didn't exist
- Small building societies offer best rates just to local savers as they can pay out only a limited amount of interest
ANSWERS FROM THE Experts
- ASK THE EXPERTS: Bank snubs my divorce payouts for mortgage
- TONY HETHERINGTON: Insurer refused to pay out after our 'lost' foster girl stole wife's gems
- 'I'm in work and disabled. Will a modest cash inheritance affect my working tax credit?'
- Money moral: Should I keep chasing my builder for a bill so I can pay what I owe - or forget about it?
- ASK TONY: I signed up for cheap foreign calls with Vodafone - then they were cancelled
- Is my home insurance invalid if I don't set my burglar alarm at night?
- My wife has dementia, can I cancel a debit payment from her account without power of attorney?
- Thomas Cook delayed and then diverted our flight home, but now won't look at our complaint
- TONY HETHERINGTON: Different names, but it's the same council tax cheat
- ASK THE EXPERTS: Can we change our wills so that our house isn't owned by five people?
Currency | Rate | Buy now |
---|---|---|
Updated 28 Jan 2013. | ||
Euro | 1.1547 | Buy Now |
US Dollar | 1.5477 | Buy Now |
Australian Dollar | 1.4606 | Buy Now |
Canadian Dollar | 1.5405 | Buy Now |
Chinese Yuan | 9.4269 | Buy Now |
Croatian Kuna | 8.5897 | Buy Now |
Czech Koruna | 28.978 | Buy Now |
Danish Kroner | 8.4835 | Buy Now |
Egyptian Pound | 9.8992 | Buy Now |
Euro | 1.1547 | Buy Now |
Hong Kong Dollar | 11.871 | Buy Now |
Hungarian Forint | 331.67 | Buy Now |
Japanese Yen | 139.6 | Buy Now |
Malaysian Ringgit | 4.6179 | Buy Now |
New Turkish Lire | 2.7145 | Buy Now |
New Zealand Dollar | 1.8385 | Buy Now |
Norwegian Kroner | 8.4172 | Buy Now |
Polish Zloty | 4.7317 | Buy Now |
Singapore Dollar | 1.8839 | Buy Now |
South African Rand | 13.763 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Kroner | 9.8715 | Buy Now |
Swiss Franc | 1.4293 | Buy Now |
Thai Baht | 45.034 | Buy Now |
UAE Dirham | 5.6389 | Buy Now |
LATEST ON HOUSEHOLD Bills
- At last, some-fin for nothing: Sainsbury’s free 'alternative' fish giveaway in stores across the UK today
- £5 for your jumble: H&M; scheme to recycle your old clothes in exchange for store vouchers
- 'My nephew bought a £500 trip to Nepal': Smartphone users warned over apps that can spend hundreds at the click of a button
- How to cut home insurance costs
- Small energy suppliers have the beating of their giant rivals on service - with npower and EDF Energy voted worst
- EBay to stop traders selling music and sports tickets as it tries to breathe life into reselling website StubHub
- The price of beauty: Loyal shoppers could be paying 30% more by sticking to Boots and Superdrug for essential cosmetics
- E.ON price hike that will swipe another £110 a year from four million households kicks in as snow hits the UK
- 'They're paying how much?' Snooping on neighbours' energy bills would push us to save money, report claims
- Deadline to claim £3,500 for home improvements looms
Latest from Cards & loans
- 'We weren't told about the £450,000 exit fee': Thousands of firms are gearing up to fight the banks over complex loans
- Barclaycard to launch new market-leading 25-month zero interest balance transfer card
- Borrowers with big credit card debts 'can save £830 in interest' by switching to best balance transfer deals
- Families' disposable income slashed by a fifth every month because of debt interest alone
- Councils' reckless use of bailiffs to chase debts as low as £50 sees record distress calls to advice charity
- Britons have paid off half their personal loans since the financial crisis, with debts at their lowest since 1999
- LEE BOYCE: Using just my name and address a fraudster took £1,000 of Wonga loans - yet it won't reveal how this can happen
- 'I paid off my Virgin credit card TWICE but got hit with £100 in charges': How phantom interest can ruin your credit score
- OUR PICKS: Best 0% balance transfer credit card rates and deals
Latest: money and Cars
- Cautious car owners can avoid paying sky-high insurance by proving they can drive like women
- Teenage female drivers see car insurance premiums rise by 50% since EU ruling
- Car insurance gap between young female and male drivers’ narrows as insurers digest EU gender rule
- Used car prices fall to their lowest level for more than a year – but some regions miss out on the best deals
- Britain set for an Arctic blast, so should you buy winter tyres? Could fitting them to your car help beat potential icy and snowy conditions?
- Revealed: Parking fee profits soar by 15% in a year – so how much did your Council make last year?
- Innocent victims of car crashes pay £700 more for repairs and car hire than motorists who are to blame
- 'I saved over £1,000 by using a 'black 'box' tracker': What to do to avoid a big bump in your car insurance
- UK new car sales sped ahead in 2012 despite markets across Europe going into reverse
Latest reports from News
- Energy fund designed to protect families from price hikes 'could face Treasury raid'
- MONDAY VIEW by HUGO DUNCAN: Only a deluded elite would say this crisis is over
- Retailers, IT specialists and builders say their risk of insolvency is rising
- Boss of Luxury Family Hotels to spend up to £10m to refurbish sites
- Hanson family backs £125m loan fund for medium-sized firms
- Morrisons stuns suppliers with new round of price negotiations - six months after it last asked for discounts
- Osborne faces MPs' fury as he 'shrugs off' recession fear
- Libor link in Guardian Care Homes legal case against Barclays could open floodgates for claims
- Insurer Admiral could buy law firm to snub ban on flogging customer crash details
- MADE IN BRITAIN: Financial Mail wins praise for fantastic ‘fantastic awards’
- MADE IN BRITAIN: Winner has lightbulb moment after redundancy, plus People's Choice and runners-up
- Allders former chiefs face questions about money owed to outlets
- Leisure sector 'blinkered over social media', survey shows
- 'Toothless? I could make a bullying supermarket pay millions': First supermarkets watchdog Christine Tacon starts work
Latest from Pensions
- JEFF PRESTRIDGE: A retirement law injustice for one group of women
- Experts back lifting restrictions on NEST pensions as government review comes to an end
- 'Capping pension charges would be like capping the price of baked beans' says pensions minister
- Retirement incomes taken this year could be £14k less than in 2010 as dreadful annuity rates hit
- In debt and living on a pension: One in five retiring this year will owe more than £30,000
- DAN HYDE: Is Metro Bank any different to the big banks after all?
- Retired savers to see income boost as drawdown pensions cap to be lifted in March
- JEFF PRESTRIDGE: First steps for a retirement without fear
- Relief at pension drawdown change that will give savers an income boost
- Workplace pension schemes will be investigated to ensure savers get a good deal
- 'I won't be punished for being a mum': The winners and losers in the great state pension shake-up
Latest from Holidays
- 'I'm thankful I had winter sports cover when I broke my leg': Third of skiers risk £3m bills without cover
- Families filling up pre-paid currency cards with holiday cash urged to be cautious as Travelex hikes fees for new customers
- Bad news for cricket fans... Australia and New Zealand top expensive destinations league for UK tourists in 2013
- Rising rail fares 'could deter half of British holidaymakers staying in UK from travelling by train'
- Brits planning to take longer, more expensive and more adventurous holidays in 2013... but value for money is paramount
- Travel agent sues for libel over 'false, malicious and defamatory' internet holiday reviews
- How EHIC is vital for holidaymakers taking part in sports like skiing or cycling
- 'I spent hours struggling down a mountain with two broken shins to avoid huge airlift bill - but then realised I was covered!' Pitfalls of not reading ski cover small print
- Where to get more euros for your holiday pound
FIX YOUR FINANCES
- This is Money's five favourite cash Isas Essential Isa reading kept up-to-date throughout the year
- Should you fix your mortgage? The latest on the best deals and what next for mortgage rates
- How to plan for a richer retirement Whatever your age, there's a plan for you. Follow our decade-by-decade guide
- How to pick the best DIY investing Isa We explain how to decide and pick five of the best (and cheapest) available
- Energy bills: Is it worth switching? What are the best deals and should you fix?
- How to get out of debt Read our ten-step guide to getting back into the black
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