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.
Bank accounts are closed by 'kangaroo courts', says TONY HETHERINGTON as another customer is evicted without explanation
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 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.
Banksy has turned spray painting into an art form worth a fortune - what to watch out for when investing in art
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.
Confused about 'hard' and 'soft' Brexit, the Norway model and the Swiss solution? This handy 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.
'If I have money, I always buy property' says Loose Women's Saira Khan who went from a modest upbringing to being paid over £100k for Celebrity Big Brother
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.
Investing Show: Banks are suffering but they're 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.
Pound sinks again after suffering mystery 'flash crash' when it appeared to drop 10% in seconds before rogue trade was cancelled
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.
From woodburners and rugs to wool curtains and solar panels: 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.
Buy-to-let mortgage tax relief battle backed by Cherie Blair hits the skids as court refuses full judicial review
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.
MINOR INVESTOR: If the pound keeps falling the FTSE 100 could hit 7,700, says Richard Buxton - crazy as that may sound
'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.
A bakery for dogs? Four Legged Fancies' canine confections are going down a treat with pet lovers and winning 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.
INVESTMENT CLINIC: I've inherited £50,000. Should I use it to overpay on my mortgage or to start investing?
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.
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.
Want a slice of your nest egg to pay debts? No can do, says man from the Pru as insurer stalls people using pension freedoms
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.
The salesmen offering 40% returns on burial plots: As banks slash their rates, savers are being tempted by exotic deals... but can any be trusted?
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).
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 ultimate Chelsea tractor: Limited edition £250,000 Range Rover has an interior emblazoned with London's most iconic 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.
What's it like to live in... Reading: Why this Berkshire town on the Thames is more than just a commuter haven
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.
'I bought property, the stock market is for mugs,' says Richard E. Grant as he talks perfume, foreign aid, borrowing money and starring in Withnail & I
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.
On your marks, get set, go! As carmakers continue to play Top Trumps, we reveal the 10 fastest accelerating cars you can buy in the world right 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
50 ways to save money: Simple steps to cut what you spend that could clear your debts or seriously boost your savings
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.
When will interest rates move? Rates could still be cut to 0.1% before the end of the year, economist suggests
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.'
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?
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
Best paid jobs 2015: Compare your salary to the national average in this league table of 350 professions - and see the year's winners and losers
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.
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|Updated 09 Oct 2016.|
|US Dollar||1.2156||Buy Now|
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