The big squeeze: Britons face a cut in real wages as collapsing pound could send inflation

Sterling, already languishing after the Brexit vote, took a fresh battering late last week, and economists warn that the falling pound could lead to inflation soaring to 3 per cent or higher next year. With pay rises averaging just 2.3 per cent a year, the higher prices would mean a cut in earnings in real terms.

Dan Murphy, a partner at global retail consultants Kurt Salmon, is warning that supermarkets have 'blinded themselves to the reality' of the loss-making nature of food delivery.

Bank accounts are closed by 'kangaroo courts', says TONY HETHERINGTON as another customer

I saw your article about Barclays dumping a client who had £94,000 in his account - apparently for reasons involving alleged money laundering - and thought the guy was probably innocent. I have had similar treatment. I am an independent financial adviser, so have to be whiter than white, but my bank, HSBC, does not listen and appears not to care. Being entrepreneurial, I bought four properties in the US several years ago for a total of £200,000.

The joint letter from business groups including the CBI and the EEF said Brexit 'must deliver barrier-free access to the EU's Single Market, which is vital to the health of the UK economy'.

Vital password systems for protecting online shoppers are being brushed aside by credit card issuers to help oil the wheels of commerce.





MIDAS SHARE TIPS: As the markets totter, Jimmy Choo is on a sound footing

The luxury footwear maker appears to be weathering the unease in consumer markets. It is still one of the fastest growing luxury brands in the world and, crucially for UK investors, this London-listed fashion name is set to benefit hugely from the slump in the value of the pound. In the first half of this year, the company announced global revenues were up 3.8 per cent on the same period last year on a constant currency basis. This means applying the same exchange rate for the two periods. On a reported currency basis, which shows the effect of currency changes, revenues rose 9.2 per cent.

The investigation is set to scrutinise 'pre-pack' administration deals, which can allow a company to keep trading while leaving creditors, including its pension fund, out of pocket.

Confirming that talks are underway this weekend, William Hill said the deal would create a 'clear international leader' in online gaming.

Patrick Dudley-Williams said: 'I had worked in the City for around 13 years and then I was made redundant in November 2012 - two days before my wife had twins.'

Banksy has turned spray painting into an art form worth a fortune - what to watch out for

On Wednesday the London-based Forum Auctions will be auctioning off more than 40 original Banksy prints - expected to sell for between £1,000 and £70,000 each. These prints are limited edition copies made by Banksy of his graffiti wall art. One of the most iconic is Girl With Balloon and it has an estimated sales value of between £50,000 and £70,000. When first produced in 2004 these signed prints were available for £150.

Last year I put £10,000 into a 65+ Guaranteed Growth Bond from National Savings & Investments and declared at the time that I was a non-taxpayer.

Cash savers, many retired and dependent on the interest from their deposit savings, are suffering what seems like a thousand cuts.

Handy Brexit table explains the options for the UK's exit from the EU

Despite endless media coverage of the political wrangling and financial speculation, the average Briton can be forgiven for remaining confused about what 'soft' and 'hard' Brexit really mean. About the difference between the 'Norway model' for the UK's post-Brexit relationship with the UK and the 'Swiss solution'. But a clever table put together by HSBC in a report called 'Is Brexit Getting Harder?' cleaves some clarity from the murk.

Over half a million workers who retire before pension age could get a boost to their state pension in exchange for a relatively small sum of money, according to analysis.

Perhaps the slump in the pound is a one-off fluke, a moment of madness caused by a deranged computer program or a fat-fingered trade by a clumsy trader.

'If I have money, I always buy property' says Loose Women’s Saira Khan who went from a

Loose Women star Saira Khan earned more than £100,000 for spending just 12 days in the Celebrity Big Brother house - but takes great pride in wearing £14 dresses from charity shops on a night out at the opera. Khan, 46, shot to fame when she took part in the first ever series of reality TV show The Apprentice, which returned to our screens last Thursday for the 12th time. Although she did not win, Lord Sugar was so impressed he gave her a job with a six-figure salary.

Banks are good value in an expensive market, says Richard Buxton

Investors need to be bold to hold banks right now, but experienced fund manager Richard Buxton is sticking to his guns. He reveals why he is looking for value, as defensive stocks look expensive. And with the stock market soaring even as the pound has taken a beating, he explains what's going on and why that means big blue-chip dollar earners could make a good buy.

Now worth £1billion, it has rewarded launch investors with returns of 156 per cent - double those of a fund tracking the FTSE All-Share Index over the same period.

Midas tipped the shares in July at 33½p and by the end of the year, they were 77½p. Since then, the performance has been pedestrian and today the stock is 67p, having drifted for most of 2016.

Manager Sam Cosh chooses from more than 2,000 business to invest in. Some 22 per cent of the trust's assets are in Germany companies, 17 per cent Irish and 14 per cent Italian.

Performance on some ethical or green funds has been diabolical as savers have missed out on some of the stellar from companies which green funds aren't allowed to invest in.

Why I’m glad to have a worker on the board to help decide pay: Hermes fund boss backs PM’s

Saker Nusseibeh is the chief executive and chief investment officer of Hermes Investment Management - one of the UK's biggest fund managers. He is a particular fan of the idea of workers on boards. 'It reminds the board that a company is not just run for executives,' he declares.

The volume of firms newly registered at Companies House had been soaring prior to the referendum, but then the rise almost ground to a halt.

Stephen Kelly left his role as chief operating officer for the Government in November 2014 to lead The Sage Group, which sells business services and software to 3million of Britain's 5.4million firms.

Pound suffers mystery flash crash as it appears to drop 10% in seconds

Traders watched nervously after the sudden plunge in sterling took it to fresh 31-year lows, however, what was believed to be an outlying rogue trade that took the pound down from around $1.26 to $1.1378 was later cancelled. The flash crash was followed by the pound sinking further against the dollar and euro today, in a volatile day's trading.

The day you go on holiday, and where you go, can have a big impact on the cost of your trip with Tuesdays being the cheapest day for flying and Sundays the most expensive.

As the pound continues to suffer from fears over Brexit, the euro rate has crumbled to €0.97 for a pound at the Moneycorp desk at London Southend Airport.

Mrs May hinted in her conference speech on Wednesday that she would introduce policies to help savers after quantitative easing and the interest-rate cut had 'bad side effects'.

A credit card with a constantly changing security code is being launched in an attempt to combat fraud. Oberthur Technologies is talking to UK banks about introducing the innovation.

How to minimise heat loss and make your home cosy for the chilly months ahead

Getting your own home in shape requires a dose of creativity. Start with the basics and look at clever ways to minimise heat loss. Getting your own home in shape requires a dose of creativity. Start with the basics and look at clever ways to minimise heat loss. Loose window frames, poor glazing, ill-fitting doors and exposed floorboards are all culprits. Bear in mind that full-length curtains can trap radiator heat when drawn closed, so consider alternatives such as blinds and shorter drapes.

Hammond said Carney was doing 'a good job' and that he would welcome his decision to serve a full eight-year term if he intended to stay in the top job until 2021.

House price inflation is forecast to continue tailing off as the property market softens, with Halifax revealing today that annual gains had slipped to 5.8 per cent.

Buy-to-let mortgage tax relief battle backed by Cherie Blair hits the skids

Landlords campaigning against the hacking back of mortgage tax relief were dealt a bitter blow today. The Administrative Court did not grant permission to proceed with a full judicial review hearing of the legislation in the case led by Cherie Blair, CBE and QC of Omnia Strategy LLP, representing co-claimants Steve Bolton and Chris Cooper.

If you have a penchant for Porsches then this upcoming auction will send you into a frenzy of air-cooled, Targa-topped, flat-six celebration. We've picked our 25 favourites from the sale.

Make sure you take into account our five factors to remember before buying a ski chalet to help ensure you make the most of your investment.

If pound keeps falling FTSE 100 could hit 7,700, says Richard Buxton

'At the moment, to be honest, it's very, very simple, it's all about the currency', said veteran fund manager Richard Buxton when we discussed the Footsie this week - and that means the stock market could keep rising. If sterling goes to 1.15 to the dollar as some are suggesting, he says the current trend could deliver a FTSE 100 at 7,700.

The Financial Conduct Authority said that between January and June complaints to Barclays rose 3 per cent on the second half of 2015 to reach 287,463.

In an ideal world dividend cover should work out at two times earnings or more, but latest research from shows many FTSE 100 firms have fallen short.

A bakery....for dogs? Four Legged Fancies wins business and celebrity fans

You might not think twice about treating your friends and family to a slice of cake, but would you do the same for your dog? It may sound like an indulgence too far, but Victoria Stent, owner of the Four Legged Fancies bakery for dogs, says a positive message lies behind her canine confections. We found out how she is setting tails and tongues wagging.

Neil Woodford and Mark Barnett have invested in peer-to-peer, which connects investors with SMEs and consumers who want to borrow. But some trusts are now trading on big discounts.

Savers can now open accounts with app-only Atom Bank but the rates are not as high as it first offered earlier in the year.

Rolls-Royce chief backs Theresa May’s proposal to put workers on boards

Warren East is the highest-profile boss to come out in support of the Prime Minister's proposal, which has sparked unease among business leaders. He said his personal view was that workers on boards helped communication, citing Germany, where worker representation is common.

Sterling collapsed 9 per cent against the dollar in seconds shortly after midnight yesterday, falling under $1.15 before immediately bouncing back up.

The Government is said to be planning a crackdown on the betting industry amid fears a growing number of children see gambling as normal because of adverts.

The breakfast favourite, which is made in Northamptonshire but is owned by Chinese firm Bright Food, continued to be the best-selling brand in the whole grain wheat cereal market.

The firm offers free-to-air channels plus an optional bundle of more than 30 others for £4.99 a month without a contract.

Anthony Ward, 56, pictured with his wife Carolyn, owns a 40 hectare vineyard in South Africa with the capacity to produce 37,500 gallons of wine.

The Office for National Statistics said the deficit on trade in goods and services reached £4.7billion in August 2016.

An entire Royal Crescent in London is up for sale - with 20 homes being sold off at prices

A total of 20 separate homes are for sale at The Park Crescent in London, ranging from two to four bedrooms and costing between £3,950,000 and £20million. To mark the occasion, six of the luxury homes have been dressed with art by renowned artists Salvador Dali, Andy Warhol and Damien Hirst.

The card gave 3 per cent cashback on travel spending, 2 per cent at department stores and 1 per cent at supermarkets, up to £3 each month. Existing customers can use the card as normal.

INVESTMENT CLINIC: I've inherited £50,000. Should I use it to overpay on my mortgage or to

The traditional advice when you have a large sum of money is to use it to get rid of any debt. That means credit cards, overdrafts and loans - and it also means mortgages. But many providers will charge you for early repayments, while lower interest rates mean offloading ahead of time is not as important as it was.

Typically, workers saving for a house, wedding or holiday use their bank's standard savings account. But these now pay next to nothing.

Fund managers will be required to breakdown the transaction costs incurred by the workplace pension funds that invest with them, under new proposals.

Why you can’t trust Google when renewing your driving licence

When you search for these services on Google, as many as four of the top entries on the first page of the search results are copycats that imitate official websites. If you click on the links, you are taken to a page that is almost indistinguishable from the real thing. Drivers renewing their licences and holidaymakers applying for travel visas are most at risk.

Small investors who put their faith in Gulf Keystone Petroleum have been huge losers, but a handful of men at the top have been making large sums, they include MP Nadhim Zahawi

For 30 years, Marian and Stephen Mortimer, pictured, had dreamed of visiting Machu Picchu. Stephen died while in South America and his widow was left with a shock bill.

ASK TONY: First Aviva messes up my pension, then says I should work till 65! And now they

I worked for London Transport's computer department. When it was taken over by a private company in 1987, I was given the option of leaving my pension where it was or transferring it out.

The PM's comments risk conflict between Downing Street and the Bank of England an issue which we all thought was settled when the Bank gained is operational independence in 1997.

I'm sure you've noticed that most firms now advertise millions of pounds of cover for unexpected medical bills, knowing full well that the likelihood of your submitting such a large claim is almost nil.

My ex-husband remarried but died without making a new will - who inherits?

My husband and I made joint wills. We are divorced and he remarried three years ago. He has recently passed away and didn't make a will with his new wife. I made no changes to my will and I only have my ex-husband's copy. Is the will valid?

The rate on Lloyds's Instant Saver and Instant Cash Isa will fall from 0.25 per cent to 0.05 per cent from December 8. So will the rate on the Halifax Instant Saver and Instant Isa Saver.

Most lenders do not allow landlords to let their properties to a close family member because they fear it is more difficult to evict a family member who fails to pay rent.

Prudential stalls savers using pension freedom cash to clear debts

Savers with Prudential are only allowed to use new freedoms to dip into their pension pot regularly if they pay to see a financial adviser. Many customers who want a so-called drawdown policy pay for a visit from one of Prudential's own advisers, whom it dubs the 'man from the Pru' and some are blocking clearing debt.

An insight into savers' concerns that they will not have enough money for their pension years, has been revealed in a survey of retirement confidence across the country.

The salesmen offering investors 40% returns on burial plots

Birmingham-based Harley Investments is currently marketing an East London Jewish cemetery as a prime spot for your cash, claiming you'll get 40 per cent returns within just two years. Harley's operation's director Gerard Gordon (inset left) and financial director Patrick Johnson (inset right) are both linked to a number of companies that sold investments in luxury allotment plots on a piece of farm land in Warwickshire (top left).

Should I remortgage my buy-to-lets early to escape mortgage crackdown?

I've just remortgaged one of my buy-to-let properties with The Mortgage Works who told me that far from needing my rent to cover my mortgage by an extra 25 per cent, it now needs to cover it by an extra 45 per cent.  The change really threw me and meant that I ended up putting in extra equity to the property to pull the loan-to-value and rate down.  I have four other buy-to-lets, all of which are due to be remortgaged fairly imminently but I am still in the period where I'll need to pay early repayment charges to remortgage now. 

The Property Ombudsman had to step in and resolve 3,304 complaints against estate agents and letting agents last year, according to its latest annual figures.

Launched in January 2014, the scheme was designed to give a much-needed shot in the arm to mortgage lending to buyers with small deposits. But the bandage is due to come off.

The London Edition £250k Overfinch Range Rover emblazoned with landmarks

Called the London Edition, each of the four Overfinch Range Rovers is detailed with landmarks like The Houses of Parliament, The Shard, London Eye, Gherkin, Tower Bridge and 22 Bishopsgate. It's not cheap, though - in fact, it's more than twice the price of the standard Range Rover Autobiography it's based on.

Forces confirmed they had confiscated in excess of 22,594 vehicles by mid-June, with 2,866 of these being sold at auction for a total of £1.4m.

A yellow box junction camera at Bagley's Lane, pictured, Fulham has pocketed a staggering £2.4m over the last 18 months and 12m in seven years, according to a BBC investigation.

What's it like to live in Reading?

Reading is a commuter haven due to its 30 minute train journey into London. But this south east city offers more than just cheaper house prices than the capital. There is a vibrant River Thames scene, an established shopping centre and excellent schools. It has also become a tech hub outside of London.

Britain's biggest independent energy supplier, which has emerged as the most serious challenge to 'the big six', saw pre-tax profits tumble to £1.7million last year

TalkTalk is to scrap separate line rental charges across all its packages as it looks to revamp its image a year on from the major data breach which rocked the telecoms firm.

'I bought property, the stock market is for mugs,' says Richard E. Grant as the star talks

Hollywood actor Richard E. Grant has never borrowed any money for fear of not being able to pay it back. Grant, who shot to fame in 1987 for his role as Withnail in cult film Withnail & I, says 1988 was the best year of his life financially and he made more money that year than he had ever dreamt possible.

For many investors, it seems that the genuine possibility of a Donald Trump presidential administration in the US is a worrying thought. But could there be a silver lining?

The pro-EU politician and his Europhile Spanish wife - who has just snagged a well-paid post on the board of Swiss bank UBS - are in line to reap enormous personal profit from Brexit.

Get free expert help with your investing, saving and finances in the Money Pit Stop

Wedding pots, retirement income, university fees -  everyone has financial goals they are working towards. Our new column offers you the chance to have your portfolio looked over by experts - who can suggest changes to help realise your ambitions.

Insurers are starting to win the battle against false personal injury claims, including whiplash. But there are questions over whether £1billion in savings are being passed on to honest customers.

The 10 fastest accelerating cars you can buy now

To be the best, you've got to beat the rest. And these 10 cars do just that - not only do they stop the clock from 0 to 60mph in under three seconds, but they also beat every other car on the planet in the benchmark acceleration dash. Clockwise from top left: BAC Mono, Bugatti Chiron, Lamborghini Aventador, Caterham 620R

Former Pensions Minister Steve Webb is This Is Money's Agony Uncle. This week, he replies to a reader planning to sell a £25.45 a month annuity when a new market launches next April.

Funds shut their doors at the end of June amid fears the Brexit vote in the EU referendum could cause a property price crash as a flood of panicking savers tried to get their cash out.

50 ways to save money....

To clear the average national household debt of ?13,000 at 6% interest with a monthly repayment of ?100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 - updated - money-saving tips may appear light-hearted but are deadly serious.

Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

In this low-income world it can be hard to find mainstream investments paying a significant yield. Stifel has compiled a list of 19 investment trusts with a yield of more than 4 per cent.

L Board sign on the rear of a blue saloon car , UK

If you are new to investing then the huge number of funds and investment trusts on offer can be confusing. Fortunately, This is Money's experts have some ideas to get you started.

Income investing: Dividends can deliver both a healthy boost to long-term growth and a way to earn from your investments.

Income investing can let you draw on your portfolio or reinvest dividends to build solid growth over time. Our experts give their fund and investment trust recommendations.

On the up: Emerging markets such as Brazil are where much of the world's growth is expected to be over future years.

If you're looking to add some flair to your investing Isa with emerging markets, This is Money's experts have some ideas to get you started

Will the UK be Norway, Switzerland or Canada? Brexit trade deals we could follow

Now that we've voted ourselves out of the EU, it's time to work out how we're going to trade in future with all its 27 member countries - and the other 27 countries it has deals with. So how do other non-EU members trade with the bloc and would any of their models suit us?

It would have been nice to have a plan. Instead, after the Brexit vote we were left scratching our heads. But now it's time for some answers on trade and what we mean to the EU.

Pensions Road Sign against threatening clouds

We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

When will UK interest rates rise?

Interest rates were held at 0.25 per cent in September and experts are divided on whether the Bank of England will cut again. Howard Archer, chief UK and European Economist at IHS Markit Global Insight, said: 'At this stage, we believe it is still just about more likely than not that the Bank of England will take interest rates down to 0.10 per cent from 0.25 per cent in November.'

What next for mortgage rates?

The base rate has fallen to a new record low of 0.25% and could be cut again. But what does all of this mean for mortgage rates, which have been steadily falling over the past month to record lows?

Ten tips for buy-to-let

For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Climbing house prices, rising rents and improving mortgage deals are tempting investors - although they will need a big deposit. Read This is Money's top ten buy-to-let tips


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Musicians have seen pay rises averaging nearly 20 per cent in 2015, while cleaners are getting 17.8 per cent more, and window cleaners 12.3 per cent. Artists in general are earning 14.6 per cent more in 2015 than 2014, according to the huge annual data dump of pay scales by the Office For National Statistics highlights.

Premium Bonds winners

October 2016
Prize value Winning bond No. Area
£1,000,000 276AV278339 Essex
£1,000,000 215XY865796 Staffordshire
£100,000 259ZN414297 Dorset
£100,000 141CJ661353 Derbyshire
£100,000 138HB024467 Hampshire and Isle of Wight
£50,000 2VR747799 Greater Manchester
£50,000 241QS845329 Hertfordshire
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£25,000 92NE335986 Overseas
£25,000 86GW534216 Cheshire West and Chester
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