Global markets could be in for a return to normality once central banks abandon their unconventional stance of record low interest rates and buying up government bonds. In its quarterly report, the Bank for International Settlements warned expansionary monetary policy appears to have been the main driver of market rallies.
The telecoms giant confirmed the rise, but denied it was linked to its recent investment in TV sports rights. Under BT's Line Rental Saver plan, consumers pay £129 for line rental a year in advance. This will rise to £141.
Gordon Brown's championing of a Keynesian approach to economic policy has been sidelined. Internationally it meant consultation so that economies could conduct economic policy in a way that benefited all of them.
Which? said that less than a third of people in a test survey identified the cheapest deal using the Tariff Comparison Rate system proposed by Ofgem under Government reforms.
Millions of women face the threat of hardship in later life - because their husbands chose the wrong type of pension annuity. The most popular annuities are single-life plans, which pay out only as long as the policyholder is alive. Liz Beattie's (pictured) husband Keith bought a single-life annuity and payments stopped when he died. By then he had received just 20 months of income totalling less than £20,000.
This is the latest twist in the scandal where holidaymakers, who should be treated for free in Spain under the EHIC agreement, have been charged.
The supermarket giant is expected to report on Wednesday that its sales recovery floundered over the past three months.
Millions of debit and credit card holders are at risk of having their personal data mined by thieves exploiting a loophole in the ‘contactless’ payment technology.
The Bank will tomorrow publish the latest figures for the sums drawn by banks under the scheme. Royal Bank of Scotland hand Lloyds said that they had not increased borrowing from the scheme.
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Could you ditch the estate agent and sell your property yourself?
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The Borealis Infrastructure fund, along with the Kuwait Investment Office and Britain's Universities Superannuation Scheme, made an approach last month to acquire Severn, which serves 7.7million households. The Severn board, led by chief executive Tony Wray, rejected that approach, but the consortium is expected to come back with another offer before the June 11 deadline.
The group, which employs 18,000 staff, has launched a consultation over the move, which will see its defined benefit pension replaced with a less generous scheme based on contributions and stock market performance.
The Co-operative Group is understood to be mulling over slashing or axing income paid to junior debt-holders as part of an emergency plan to plug a mammoth hole in the bank’s balance sheet.
The firm, which opened in 1997 in Wakefield, West Yorkshire, and now boasts 650 shops, has been owned by private equity firm Charterhouse since 2010.
INTERVIEW: Britain would be the loser if we drove away giants like Google and Amazon
Dragon turned enterprise tsar James Caan
SIMON WATKINS: Sir Mervyn King has no shameful record as Bank Governor
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MIDAS: Vanished stalwart Cookson has been split - but hi-tech half Alent is back and set to boom
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RUTH SUNDERLAND: Could the biggest casualty of Europe’s failings be its youth?
School-leavers face unemployment and few prospects
More than 500,000 policies are taken out each year, often including add-http://molwps.andweb.dmgt.net/money/news/article-2334345/Dont-miss-perks-buried-health-cover.htmlons such as helplines, counselling and other services. Maria Mirto, pictured, was able to use a valuable benefit under her £12-a-month critical illness policy when she was diagnosed with a benign bone tumour last year.
The Financial Ombudsman Service has received the first of what could be hundreds of complaints relating to the Bank of Ireland’s decision to increase customers’ mortgage rates by more than 100 per cent. Caroline Grierson's (pictured) payments doubled on two tracker deals.
The group has shifted customers on the iSave v12 plan to the dearer iSave Everyday tariff from the beginning of this month.
Hitachi is turning its hand to personal loans and has today revealed a new product that is up there with the best offered by High Street lenders.
The entrepreneur and Government adviser has defended the contribution made to Britain by internet giants Amazon and Google and warned against driving global companies away from Britain.
Improbably, a growing range of investments are enabling small-scale savers to own a slice of London’s – and thus the world’s – most expensive properties. They pool investors’ cash from sums as small as £1,000 and buy flats and houses that are let to companies or to ultra-wealthy tenants such as Campbell.
As Sir Mervyn comes to the end of his ten-year tenure as Governor his record will be under scrutiny – and it must be said that the verdict is very mixed. His winding down quantitative easing and selling off the £375billion of Government bonds that have been bought may prove a major headache for a future Governor.
For whatever reason or reasons, the property apocalypse that pessimists predicted (or hoped for) hasn’t materialised. A ‘wall’ of foreign money keeps London’s prime property prices in the stratosphere. But the property market is strengthening at grassroots level, too.
O’Neill is facing a new challenge. The trust’s shareholders approved a restructuring of its benchmark – the target he aims to beat – from the start of this month.
Cookson was one of the best-known names in British industry - until it disappeared from the stock market in December. But unlike other stalwarts, it did not vanish because it collapsed or was sold to a foreign buyer. Instead the group was split into two separately listed companies, engineering group Vesuvius and Alent. Alent makes complex products used in goods ranging from tablet computers to lipstick holders. ...read
We round up shares tips from the Sunday newspapers. This week tipsters tackle Alent and BG Group.
If you do not yet have a contactless credit or debit card, you will be getting one soon – whether you want it or not. This controversial new payment method enables you to pay in shops just by holding the card to an electronic reader. But just as millions of cards are being distributed by banks, shoppers say they have been hit with phantom charges. However, Alex Bell, pictured, is a fan.
I’m sending you a mailshot I received from a betting tipster named Colin Davey, who claims to run a fully licensed online gambling website called Spinacoin. I wonder what controls exist that decide who can start such a site?
The unprecedented rate of shop closures could leave post offices isolated and with few customers, according to a report sent to MPs on the Business Select Committee.
O’Neill is facing a new challenge. The trust’s shareholders approved a restructuring of its benchmark – the target he aims to beat – from the start of this month.
Over just three days last week more than 1,400 signed an e-petition demanding that having just one member of staff in a shop – called single-manning – should be banned.
My children have left home and I have always dreamed of taking some time off the treadmill. Am I too old for a gap year?
Frustration with big high street banks is leading more small companies to move their business to ‘challenger’ lenders such as Aldermore and Shawbrook. Bank of England figures published last week show that net lending by the main high street banks to small firms fell by £700 million in April.
Entrepreneurs have just three weeks to enter the European Business Awards 2013-14, which recognise the most successful and dynamic firms.
Ruth and Amy Anslow, who want to provide an alternative to the big supermarkets, intend to open the first store of what they call a ‘Body Shop for the food industry’ in Brighton by September.
House prices in Britain are 31% overvalued compared to rents and 21% too high against incomes, according to a study by the Organisation for Economic Cooperation and Development. Britain is named as one of many which have overpriced housing stock, according to the research which compared prices with local wages and rents.
A survey has estimated that the amount lost by weekly National Lottery players over the course of the year is just shy of £150 - but is that merely the price of hope?
Most sellers look no further than their local estate agent to arrange a sale. But is this the best option? Here we run through the options facing house sellers looking to trim costs.
On three occasions tax officials failed to obtain the correct information about 68-year-old Sandra Cox's state pension and benefits income, yet are demanding she fork out £1,750 in underpaid tax.
Diesel cars have soared in popularity as drivers are tempted by better fuel economy, but savings could be heavily outweighed by potential big repair bills most remain unaware of. Lee Boyce takes a look at the diesel particulate filter trap, what it costs to solve and whether you should buy a diesel.
When it comes to buying a car, you can find out about the price, how it looks and the resale value, but what do owners really think? How will it perform once you have bought it? Will it need constant trips to repair garage and will the service be good? If it is a family motor, will it cope with the wear and tear? We reveal the best and worst.
A simple tool for totting up investment costs is now available: the True and Fair Calculator, launched by campaigners for more transparent fund charges. We take a look at how it works, and ask some industry players what factors aside from cost investors should consider.
The report by the Public Accounts Committee criticises the Office of Fair Trading (OFT) for being 'ineffective and timid' in its approach to regulating the industry.
The worrying thing is that the government, regulators and not even the payday loan industry itself know the size of the problem.
'Gazumping is misery for house buyers. I should know — it happened to me last week. And it was cold comfort to find I am part of a growing trend.'
Unemployment in the 17-nation currency zone rose to 12.2 percent in April, marking a new record since the EU's statistics office started collecting data in 1995.
Analysts predict underlying sales for the past four months will have fallen from 1 per cent to -1 per cent, heaping more pressure on chief executive Phil Clarke.
The fashion chain is expected to report that profit, excluding interest payments and tax, for the year to March, soared to about £185 million.
The hidden costs of straying into your overdraft can be infuriating, with long lists of terms and conditions to scour until you find out the real picture. Don't let the small print get one over on you - arm yourself with the facts. ...read
When an elderly pensioner visited her local building society for a savings account, she didn’t count on being put into an investment bond that failed dismally.
What is straying into the red costing you? As a third of Britons rely on their overdrafts at some point, could switching save you money from high interest and arrangement fees?
Expats selling properties in Europe are benefiting from a far superior exchange rate with bumper sales conversions - one group saw a 9% euro profit become a 52% profit in pounds.
Will the building society take my property when I die if I have not paid off my interest-only mortgage?
A new tax year means a fresh Isa allowance to save. We pick our five favourite cash Isas for savers, don't miss this essential Isa reading that is kept up-to-date throughout the year.
The Association of Investment Companies has analysed all investment trusts to find the 20 strongest and most consistent performers of the last decade. We reveal the full list.
The bank rate is at a rock bottom 0.5%, and one day it must rise. The big question is when? We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists.
A five-year fix can be had at 2.49%, and borrowers with smaller deposits are also seeing cuts. So is now the time to lock in?
Property sales are finally on the up, while better mortgage deals are landing regularly. So what now for house prices?
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
| Currency | Rate | Buy now |
|---|---|---|
| Updated 02 Jun 2013. | ||
| Euro | 1.1447 | Buy Now |
| US Dollar | 1.4929 | Buy Now |
| Australian Dollar | 1.5263 | Buy Now |
| Canadian Dollar | 1.5267 | Buy Now |
| Chinese Yuan | 8.953 | Buy Now |
| Croatian Kuna | 8.4978 | Buy Now |
| Czech Koruna | 28.929 | Buy Now |
| Danish Kroner | 8.4054 | Buy Now |
| Egyptian Pound | 10.033 | Buy Now |
| Euro | 1.1447 | Buy Now |
| Hong Kong Dollar | 11.474 | Buy Now |
| Hungarian Forint | 327.8 | Buy Now |
| Indian Rupee | 79.42 | Buy Now |
| Japanese Yen | 149.68 | Buy Now |
| Malaysian Ringgit | 4.4982 | Buy Now |
| New Turkish Lire | 2.7297 | Buy Now |
| New Zealand Dollar | 1.8356 | Buy Now |
| Norwegian Kroner | 8.5801 | Buy Now |
| Polish Zloty | 4.7431 | Buy Now |
| Singapore Dollar | 1.8628 | Buy Now |
| South African Rand | 14.793 | Buy Now |
| Sterling | 1.0 | Buy Now |
| Swedish Kroner | 9.658 | Buy Now |
| Swiss Franc | 1.4174 | Buy Now |
| Thai Baht | 43.93 | Buy Now |
| UAE Dirham | 5.4303 | Buy Now |
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GOPublished by Associated Newspapers Ltd
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Tony Hetherington
Tony Hazell