Chairman Janet Yellen last night pushed rates up from targeting a range of 0.25 per cent to 0.5 per cent, to between 0.5 per cent and 0.75 per cent. It was the Fed's first move for more than a year and only its second increase since the financial crisis. But policymakers said there could be three increases in 2017, along with three more in each of the following years, eventually taking rates back to a normal level of 3pc.
Is it time we reclaimed economics from the experts? Why it's too important to be left to the economists
The economy was hardly ever talked about before World War II, yet now it is seen as one of the most important issues of our time. But at the same time, many economists are not being equipped with the skills to warrant the extraordinary role they play. So says Joe Earle, co-author of a new book called The Econocracy. Here's why leaving it to experts is a dangerous game - and how to get involved.
DON'T MISS
- How Britain's biggest shops are pocketing YOUR delivery fee refunds on unwanted items and making up to £4.1bn
- Banks hike the cost of fixed-rate mortgages Experts warn it's the 'end of an era' for cheap home loans.
- Scam Lloyds letters that look genuine Criminals writing to customers warning them of 'unusual transactions'.
- I always seem to invest in funds just as they take a turn for the worse - how can I avoid this? INVESTMENT CLINIC.
- Is your 4K television pushing up your energy bills? Data shows latest-spec TVs use more energy than HD versions.
- Tour firm's £50 Brexit tax on your HOLIDAY! Mark Warner Holidays hammers customers who booked their trips months ago because of the pound's collapse.
- Does your annuity have small print that says you can sell it? We found one example and experts say there'll be more...
- How to profit from boom in cyber crime by investing in firms protecting us all from internet hackers
- It might be the season of goodwill - but don't expect any from your insurer... DAN HYDE
- Three of the best used family hatchbacks for those who don't want to a diesel But is a Focus, Golf or Astra the best choice?
- Top performing investment trusts of 2016 After a four year slump, global uncertainty helps gold, mining and commodities top the pile.
- As Basildon and Slough are revealed as Britain's latest property hotspots, we look at what's next for house prices?
- Cost of living crunch begins as inflation jumps to two-year high of 1.2% ONS says inflation rose from 0.9% in October.
- Shoppers splash out on premium own-label mince pies and smoked salmon An upmarket Christmas.
- Why we're fighting for fairness on shared appreciation mortgages Backing the borrowers crushed by debts linked to house prices
- Want to increase the kerb appeal of your home? A Mercedes-Benz parked outside makes a street look best, claims new survey
BUSINESS & MARKETS
MARKET REPORT: Victoria Flooring shares hit the ceiling following its purchase of Australian firm Dunlop Flooring for £20m
It's the second company Victoria has bought which has focused on underlay (the spongey lining which goes underneath carpet) - the first was Interfloor in September 2015. Dunlop reported revenue of £30m in the year to June 30 and earnings of £3.5m. Victoria supplies around 3,000 flooring stores in the UK, largely independent shops as well as some major retailers, and around 800 in Australia.
SAVE MONEY, MAKE MONEY: OUR TIPS TO GET RICHER
- This is Money's five favourite best buy cash Isas for 2016
- Looking for a better bank? Five of the best current accounts
- Energy bills: Could you cut save by switching?
- Best credit cards for spending, holidays and rewards
- The best mortgage rates and should you fix?
- Ten tips for cheaper car insurance - and compare prices
- Best debit and credit cards for spending overseas
- The best and longest balance transfer credit cards
- Best (and cheapest) DIY investing Isa platforms
- Ten tips for buy-to-let and how to find a mortgage
MONEY NEWS & ADVICE
INVESTMENT CLINIC: I always seem to invest in funds just as they take a turn for the worse - how can I avoid this?
Unfortunately, this is the problem with choosing a fund based on its past performance. No fund can always be top of the table. This is because the assets it invests in will do better or worse depending on how well the economy is doing, or based on news and sentiment in sectors it chooses or avoids. The manager's style, too, will come in and out of favour.
Banks hike the cost of fixed-rate mortgages as experts warn it's the 'end of an era' for cheap home loans
Banks are hiking the cost of fixed-rate mortgages by hundreds of pounds a year as experts warn it is the 'end of an era' for cheap home loans. Mortgage rates have been at rock-bottom for seven years after the Bank of England's official rate was cut to 0.5per cent, and then to 0.25per cent in August.
Mark Warner Holidays slaps travellers who booked their trips months ago with £50 Brexit surcharge because of pound's collapse since referendum
Holidaymakers who booked trips to Europe months ago are being hit by a Brexit tax of £50 per person. Customers say Mark Warner Holidays is demanding the extra cash because the pound has tumbled against the euro since the EU vote. In June, £1 was worth €1.30. Today, it buys just €1.20, having dipped as low as €1.11 in October. That has made it more expensive for holiday firms to send people to Europe.
ASK TONY: Currys wouldn't give back £200 for cooker hood I didn't realise was broken
We bought a cooker hood costing £199.99 from Currys. At the time, we were having a kitchen fitted, so did not open it straight away. However, when the fitters did open it, they discovered it was damaged. Currys insisted its conditions of sale were that any damage must be reported within 48 hours and would only offer us a 10 per cent refund for damaged goods.
Top performing investment trusts of 2016: After a four year slump, global uncertainty helps gold, mining and commodities top the pile
After years of rocky performance, gold, precious metals and oil made a comeback in 2016 as political uncertainty made nervous investors take refuge in 'safe haven' assets.The top performing investment trust sector is Commodities and Natural Resources, up a whopping 72% - rewarding brave value investors.
Is your 4K television pushing up your energy bills? Data shows latest-spec TVs use more energy than HD versions
Thousands of Britons who have snapped up a 4K television in the Black Friday sale or as a Christmas treat will be facing higher energy bills for the technology, data claims. Energy bills from watching TV are likely to increase for the first time since 2011, according to British Gas's latest home energy report, thanks to the energy sapping devices.
As Basildon and Slough are revealed as Britain's latest property hotspots, we look at what's next for house prices?
While the UK overall saw a 6.9 per cent rise, the ONS figures also showed house prices falling in central London. And they arrived a day after Rightmove forecast asking prices to rise just 2 per cent in 2017, as Brexit uncertainty weighs on the housing market. With property values are rising swiftly in some areas, including Basildon and Slough where they are up a fifth, but falling in others, we take a look at what's happening with house prices.
My late mother made money bequests to relatives - must I pay them before I manage to sell her house?
My mother bequeathed specific sums of money to other relatives which exceed the total amount of liquid assets in her bank accounts, but I haven't managed to sell her house to fund the payments yet. Is it feasible to pay part of the bequest, £5,000 of £15,000 for example, until the property is sold and then pay the balance?
What asking price should you go for? How to find the price that makes sure your property gets sold
Knowing what price to ask for your property can be a daunting task, but our top tips will help to get your home sold. We asked some leading estate agents - with decades of experience between them - what advice they would give to people seeking to achieve the right price for their home.
A tough year for property ahead: Asking prices tipped to rise just 2% next year, but homes in London could dip 5%
Property asking prices are tipped to rise by just 2 per cent next year while inner London prices could fall by 5 per cent, according to a forecast by property listings giant Rightmove. Prices will rise for the seventh year in a row, says Rightmove, but the pace of gains will slow as uncertainty weighs on the housing market and the London 'price bubble continues to deflate'.
Not just a pretty face: First off-road drive of the new Land Rover Discovery as it chalks up 10,0000 orders before hitting the tarmac
The new Land Rover Discovery has proved a hit before buyers can even get one on the road, but the real verdict on the 4x4 will come when those new owners take it off the tarmac. More than 10,000 people have placed orders for the new Land Rover Discovery 4X4 - including 2,000 in the UK. To see what's in store for them, Ray Massey gets an early off-road test of the new Discovery.
MORE BUSINESS & MARKETS NEWS
Dixons Carphone and SSE looking after your electrical goods? Joint venture launched to service everything in your home from boiler to laptop
Households across the UK will be able to manage everything in their homes through energy provider SSE and electricals firm Dixons Carphone in future. The duo have got together to provide a 'one-stop solution' for the home, looking after everything from boilers and dishwashers to laptops and wifi. Customers will be able to 'control connected devices in the home, purchase a wide-range of recommended products, arrange installation of smart thermostats or security systems, get peace of mind cover and help to troubleshoot technical and maintenance issues', the pair said.
Hunt for a new chairman at M&S;: But can they bring back the glory days of the ailing High Street giant?
Robert Swannell, who as a banker helped M&S; stave off a £9.4bn bid from Sir Philip Green in 2004, is stepping down next year having taken up his post in January 2011. His reign at M&S; has been overshadowed by the dismal performance of the fashion arm and in particular the crucial womenswear department.
YOUR MONEY ESSENTIALS
Five potential takeover targets: As foreign firms circle 'cheap' British businesses, ITV tops broker's New Year hit list
Investors looking for sharp and quick returns could spend time weighing up the next possible mega merger, after a string of top deals in recent months resulted in hefty payouts. The Brexit vote sent the pound tumbling and soon saw Japan's SoftBank takeover ARM. Now as Sky becomes a target again, broker AJ Bell has revealed five that could be next.
Will Trump make your money great again? How the new President will affect your investments
The age of Trump is almost upon us. The billionaire businessman will be sworn in as the 45th President of the United States on January 20. Here, The Mail on Sunday explores what America under Donald Trump will mean for British investors. As I stand in the heart of Manhattan surrounded by the bright lights of Broadway and festive bustle of Christmas shoppers, America seems to be in rude health.
You're a prime target if you have a pension pot: How to stop the scammers trying to steal your cash
With eight scam calls per second and millions of consumers randomly contacted by strangers about their pension every year, protecting savers from the clutches of fraudsters is a high priority. Those with pension pots have become prime targets for a variety of scams since new rules were introduced in April 2015, giving savers easier access to their retirement funds. Research suggests fraudsters sit behind one in ten requests to transfer money out of a pension pot.
'Jess Ennis-Hill never needs to work again - but I earned NOTHING from swimming' says Sharron Davies
Swimmer Sharron Davies never earned a 'single, solitary penny' competing in the Olympics for Great Britain. But she earned more than £100,000 in her role as 'Amazon' in the Gladiators television series and was paid a six-figure sum to present the Big Breakfast back in the 1990s. Davies, 53, who recently designed and launched her own ProSwim swimming goggle range, also made a fortune speculating on the property market - and bought a Porsche 911 for £60,000.
TONY HETHERINGTON: 'I've been signed up to a £3-a-week sex content site without my permission via text message'
Syncronized Limited, based in Coventry, has operated various services providing sexual content to mobile phone users, The titles of some are unprintable. Others include 'Glam Pleasures', 'Sex Dose' and 'Lesbiancourse' offering explicit videos. None of this is illegal, but it does not allow Syncronized to charge for services people did not request - and the company has form for this.
Still no answer Mr Vodafone? 'I've been waiting for a YEAR for Vodafone to settle my complaint, despite all the promises about better service'
Vodafone was recently hit with a record £4.6million fine by Ofcom for serial customer service failings following a sustained campaign by The Mail on Sunday. The fine prompted the company to concede that it had 'let customers down'. Vittorio Colao, group chief executive, confirmed the company was 'working on' fixing its customer service issues which had culminated in inaccurate bills being sent out and complaints being handled poorly.
Millennials think they've drawn the financial short straw - while two-thirds of baby boomers admit they are the 'lucky' generation
A survey of more than 2,000 investors who hold online accounts with Hargreaves Lansdown found that just 15 per cent of those aged between 18 and 35 feel lucky or very lucky financially compared with other age groups, while 62 per cent feel their generation is unlucky or very unlucky. Among those aged between 51 and 70, 72 per cent perceive themselves to be lucky or very lucky in the monetary stakes.
RAY MASSEY: Bentley's new diesel diamond should get you from London to Verbier on a single tank
Bentley's first diesel, the Bentayga, is also the world's fastest luxury diesel SUV, claims the company. It's no slouch off-road either, managing slippery slopes and rutted tracks with aplomb. With big 21 in wheels and powered by a triple-turbocharged four-litre V8 engine linked to an eight-speed automatic gearbox (with manual paddles for added fun), it accelerates from rest to 60mph in just 4.6 seconds, and has a top speed of 168 mph, yet will still manage 35.8 miles to the gallon with CO2 emissions of 210g/km.
SMITH & WILLIAMSON GLOBAL GOLD AND RESOURCES FUND: Mining investors strike lucky as gold regains some of its lustre
The gold price has endured a rollercoaster ride over the past year, rising to a high of $1,366 (£1,078) per ounce in July before falling back to $1,164 today. Over the past 12 months, it has risen nearly 10 per cent. Yet investors who have put money in to the shares of miners rather than in physical gold have enjoyed a far better year.
GUIDES: HOW TO SAVE MONEY AND MAKE MONEY
WHAT NEXT FOR YOUR MONEY?
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.
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.
What next for mortgage rates? More cuts arrive so should you fix now?
Several months after the Bank of England slashed the base rate to 0.25 per cent and lenders are still cutting mortgage rates on almost a weekly basis - but how low can they really go? The experts say not a lot lower and it's likely that if you get a mortgage at the moment, it's going to be a pretty cracking deal.
Ten tips for buy-to-let: the essential advice for property investors
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
TIPS, TOOLS AND HELP FOR LANDLORDS
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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.
ABOUT THIS IS MONEY
Premium Bonds winners
Prize value | Winning bond No. | Area |
---|---|---|
£1,000,000 | 277WB531615 | Gloucestershire |
£1,000,000 | 176XC192939 | Essex |
£100,000 | 272JJ577470 | Stockport |
£100,000 | 214QG669334 | Greater Manchester |
£100,000 | 168SD912436 | Devon |
£50,000 | 279ZB182370 | Dorset |
£50,000 | 267PF062139 | Cheshire West and Chester |
£50,000 | 255SE616149 | Surrey |
£50,000 | 140ZE329530 | Oxfordshire |
£50,000 | 102DP039413 | Hereford and Worcester |
£25,000 | 96SX101249 | London |
THE INVESTING SHOW
- Investing Show: Should investors worry about political upheaval?
- Investing Show: Will President Donald Trump prove to be good for investors?
- Investing Show: Should you invest in a VCT for 30% tax relief and exciting growth companies
- Investing Show: Is now a good time to buy emerging markets?
- Investing Show: Banks are suffering but they're good value in an expensive market, says Richard Buxton
- Investing Show: We've bought US tech stars like Tesla because of how great they could really become, says Scottish Mortgage's Tom Slater
- Investing Show: Banks are suffering but they're good value in an expensive market, says Richard Buxton
- Investing Show: Should investors worry about the US election, banks and a 'hard Brexit'?
- Investing Show: Can investors make money by keeping it simple?
- Investing Show: Rate cuts are pointless but infrastructure is the next opportunity for investors
- Investing Show: The value investor who likes unloved bank and supermarket shares
- Investing Show: Best places to invest around the world to beat Brexit
- Investing Show: Where should you invest and what should you avoid after Brexit?
MOST READ MONEY
- What asking price should you go for? How to find the price that makes sure your property gets sold.
- My late mother made money bequests to relatives - must I pay them before I manage to sell her house? She doesn't have enough in her account to pay
- The 50p that is far rarer than the fabled Kew Gardens coin How a 2009 Olympics coin in much shorter supply has gone under the radar (for now!)
- Asking prices tipped to rise just 2% next year, but homes in London could dip 5% as 'bubble deflates' A tough year for property ahead.
- Five potential takeover targets As foreign firms circle 'cheap' British businesses, ITV tops broker's New Year hit list.
- Borrowers locked out of buying a home by tough mortgage rules could be in for some luck as watchdog promises to review them
- First off-road drive of the new Land Rover Discovery as it chalks up 10,0000 orders before hitting the tarmac Not just a pretty face.
- Could Boxing Day sales be banned? MPs discuss petition calling to shut shops to give workers a break
- Keep sly Fox out of the Sky coop Takeover deal is not all it seems and needs an Ofcom review, says ALEX BRUMMER
- There's sweet success and rich rewards on offer if you check in at Hotel Chocolat MIDAS SHARE TIPS.
- 'I've been signed up to a £3-a-week sex content site without my permission via text message' TONY HETHERINGTON.
- How to stop the scammers trying to steal your cash You're a prime target if you have a pension pot...
- 'Jess Ennis-Hill never needs to work again - but I earned NOTHING from swimming' says Sharron Davies
- The HSBC branch closure hitlist: Remember the adverts for 'the world's local bank?' Now see if your branch is about to be wiped out
- Will Trump make your money great again? How the new President will affect your investments
- I want to sell my car but I haven't got a clue what it's worth - how can I find out its real value?
- Food and drink will get more expensive and choice diminish unless EU workers can remain Warning from producers, retailers and restaurants.
- Plunging shares in major Italian bank suspended after ECB deadline leaves it at the mercy of a state bailout Monte dei Paschi di Siena denied more time.
- Economic growth hopes dealt a blow as construction firms fail to commit to major new projects ONS said output fell 0.6 per cent on month.
- Our flight was delayed by three hours - why has Thomson made us wait 11 months for compensation?
- Warning sounded on crowdfunding risks as watchdog calls for new rules to protect investors
- Is the biggest financial crisis of them all around the corner? JIM RICKARDS believes so... - and says it will see the gold price hit $10,000 an ounce.
- Chronic shortage of homes will continue into 2017 One in three surveyors say properties in their area are overpriced, says Rics.
- New 'two-winter' fixed energy tariff is 'cheapest on market' Flow Energy claims deal through MoneySuperMarket beats other two-year tariffs.
- Nine in ten shoppers have a rewards card - but new research suggests it doesn't encourage loyalty in Britain Are loyalty cards pointless?
- Will Britain ever wean itself off 'housing heroin'? MYRA BUTTERWORTH suggests a solution
- What if customers wrote the Ts & Cs? That would get companies to sharpen up RACHEL RICKARD STRAUS.
- Aldi taking on 'posh nosh' rivals M&S;, Waitrose and Fortnum & Mason as it boosts Christmas premium range
- Bank customers warned to watch out for a new scam that involves official-looking post Is that letter from your bank a fraud?
- Workers fired on the spot could lose a fifth of their redundancy payout to the taxman under new rules hidden in the Autumn Statement
- Buy-to-let lenders toughen up their rules as embattled landlords prepare to be stripped of tax reliefs
- Pay 10% extra and Audi will sell you a 'Performance' version of the RS6 Avant with 597 horses. We tried it When a £78K 550bhp estate car isn't enough...
- Atom Bank launches the first mobile mortgage allowing borrowers to manage (nearly) everything in an app
- My late mother's home sold for above the inheritance tax threshold - is it too late to have my late father's nil rate band added?
- It's time to vote in our Wooden Spoon Awards...So which firm drove you up the wall in 2016?
- Crooks making fake claims by impersonating crash drivers New wave of whiplash fraud.
- Should I move any profits I make on my investments into a savings account - or is it best to leave them in the fund? INVESTMENT CLINIC.
- M&S; Bank demand loyal credit card customers submit documents to prove identity a decade or more after opening their account
- Alan spent £500 on a boxing glove signed by Mike Tyson... - then found out he'd been conned by the crooks who prey on sports fans
- Why taking out £100 cash on a credit card can cost you £7.20...even if you pay it all off at the end of the month
- Could you benefit from a free service that stops fraudsters taking out loans against your home? Over 50,000 homeowners have signed up.
- We reveal European countries' top-selling cars Britain loves the Ford Fiesta but which nation's favourite is the Suzuki Vitara?
- My mum has moved into a care home - can dad leave his share of their house to us children instead?
- It's time shoppers were given the upper hand again, with industry-wide standards for weights and measures DAN HYDE.
- Could you pay for Christmas by selling your old phone? Retro mobile sells for £1k on eBay while iPhones go for £500.
- HSBC pulls lowest-ever loan rate of 0.99% from the market Are mortgage rates on their way back up?
- The commuter towns where house price rises outpace London Brentwood in Essex tops the list - and Maidenhead homes add £91k in a year.
- Cost of foreign holidays leaps as the pound falls against 46 of the 50 most popular currencies... - and it's very bad news if you're heading to Iceland.
- Leeds BS equals best-buy rate by bumping up easy access savings account to 1% - but not for long Small blessings for savers.
- Fuel prices fell for the first time in four months in November... - but the RAC warns cheaper petrol and diesel will be short-lived.
- Black Friday sparks record online sales for November... - but can UK households really keep on spending until Christmas?
- How house prices have surged up to 60% in five years in the UK's trendiest areas Do you live in a 'hipster hotspot'?
- Why round £1 coins could become a future collectors' item With the new 12-sided pound coin coming, a full set may soar in value...
- Paris, Madrid, Athens and Mexico City all commit to a ban on diesels by 2025 Beginning of the end for diesel vehicles?
- Is rising life expectancy a social benefit or burden? Half of over-65s think we view living longer as a financial problem.
- Investing Show: Should investors worry about political upheaval? A year of political upheaval.
- One in three set to borrow for festive food and presents - and demand for debt advice is expected to spike in New Year Christmas on credit.
- From driving lessons to each tank of fuel, MOT test and service - can you guess how much we each spend on motoring in a lifetime?
- Pay-as-you-stay Airbnb insurance for homeowners costs from £1 per night... - but could it push up your home insurance bills?
- Vodafone botched my direct debit and after NINE months it's still not fixed
STEVE WEBB ANSWERS YOUR PENSION QUESTIONS
- I don't pay tax but do contribute to a pension - can I get tax relief on my payments?
- I divorced in 1972 and became a single working mum - how did this affect my state pension?
- Will my wife get a state pension increase if I die before she does?
- Will my company still pay into my pension while I'm on maternity leave?
- Why has drawing the state pension changed my tax code - and why wasn't I warned sooner?
- I'm divorcing - can my ex-husband take half my pension and cash in his share?
- I'm an ex-civil servant who was 'contracted out' - can I pay a top-up to get full new state pension?
- I am divorced - how much of my state pension could I lose if I remarry?
- Why am I doubled-taxed with National Insurance when I worked and then income tax on my state pension?
- Pressure on the pound from the dollar as US Federal Reserve hikes interest rate by 0.25%
- ‘I've been naive and stupid': Mother's agony after losing £12.5k through an 'absolute zero-risk' online...
- Finally you can buy cheap train tickets on the day and won't be stung if you forget your railcard as train...
- Is it time we reclaimed economics from the experts? Why it's too important to be left to the economists
- The £36k loan that'll cost Joan £300k if she sells her home: Pensioner, 88, falls victim to shared...
- The £400m battle to run 3,000 pubs: Shock Heineken bid sparks a takeover war for punch taverns
- US Federal Reserve raises interest rates 0.25% after first policy meeting since Donald Trump's election
- Which hedge fund caused the £500m Paysafe share price plunge? Short sellers dodge questions over who is...
- MARKET REPORT: Victoria Flooring shares hit the ceiling following its purchase of Australian firm Dunlop...
- ALEX BRUMMER: Yellen's bold step to raise rates prompts a rethink for Mark Carney and co
- Delight for Michael Howard as corruption probe into energy firm he chairs is dropped
- Up-and-coming lingerie firm Bluebella gets a £1m boost to conquer US
- DAILY BRIEFING: BP oil rig off the coast of Angola has pumped 500 million barrels in ten years
- CITY DIARY: Partner at city law firm resigns for inappropriate behaviour at the Christmas party
- Bank closures map of the UK: More than 1,000 branches have closed in just two years – and HSBC has cut more...
- ‘I've been naive and stupid': Mother's agony after losing £12.5k through an 'absolute zero-risk' online share trading site to pay for her sons to go to university
- Banks hike the cost of fixed-rate mortgages as experts warn it's the ‘end of an era’ for cheap home loans
- Investors in ETFs see their wealth eroded by excessive trading and tracker funds earn better returns, says Vanguard founder
- The Ferrari only for very loyal customers: Just 10 of these J50 models will be built to celebrate half a century of selling cars in Japan
- ASK TONY: Currys wouldn’t give back £200 for cooker hood I didn’t realise was broken
- Tour firm's £50 Brexit tax on your HOLIDAY! Company hammers customers with pre-booked trips because of the pound's collapse
- Pressure on the pound from the dollar as US Federal Reserve hikes interest rate by 0.25%
- MARKET REPORT: Anonymous blog wipes 18% from payment firm Paysafe Group a day after the chief financial officer picked up his stock options
- The £36k loan that'll cost Joan £300k if she sells her home: Pensioner, 88, falls victim to shared appreciation mortgage
- Is it time we reclaimed economics from the experts? Why it's too important to be left to the economists
- US Federal Reserve raises interest rates 0.25% after first policy meeting since Donald Trump's election
- Three of the best used family hatchbacks for those who don't want to a diesel: But is a Focus, Golf or Astra the best choice?
- How Britain's biggest shops are pocketing YOUR delivery fee refunds on unwanted items and making up to £4.1bn
- Bank closures map of the UK: More than 1,000 branches have closed in just two years – and HSBC has cut more than a quarter of its network
- FTSE CLOSE: Footsie finishes in the red as investors get set for US Federal Reserve interest rate hike
- MOST READ IN DETAIL
Big Money Questions
- Would it be fairer if everyone paid the same level of tax or should the rich pay more?
- Is the greatest threat to the euro flying under the radar? How a culture clash between Germany and France threatens to destabilise the currency
- Does the amount of cereal in the box tell you as much about the economy as maths and graphs? How YOU can predict the way the economy is moving using everyday signals
- Is MATHS creating an unfair society? How algorithms decide our insurance costs, where police patrol - and even how long we're left on hold
- What is GDP, how is it worked out - and why does it make some people very angry? Find out in the Big Money Questions Show
- Ever wondered why prices always rise? Watch our inflation explainer in the Big Money Questions show
- What is the Bank of England base rate and why does is matter? Watch our quick explainer in the Big Money Questions
- Are our successes down to luck or hard work? An economist crunches the numbers on the Big Money Questions show
- Are you ready for a 100-year life? Watch our tips on planning everything from finances to friendship in The Big Money Questions
MIDAS SHARE TIPS
- MIDAS SHARE TIPS: There's sweet success and rich rewards on offer if you check in at Hotel Chocolat
- MIDAS SHARE TIPS UPDATE: Unanimous verdict for Gateley shares as they soar 20%
- MIDAS SHARE TIPS: RM Secured Direct Lending's £100m flotation will help boost yield for investors
- MIDAS TIPS: Housing association Places for People's seven-year bond pays investors 4.25% interest
- MIDAS SHARE TIPS: AIM-listed tech incubator Mercia has its eye on the long game
- MIDAS SHARE TIPS UPDATE: Time to bank profit after surprise Lavendon bid delivers 53% gain
- MIDAS SHARE TIPS: Logistics firm Wincanton is really going places
- MIDAS SHARE TIPS UPDATE: Keep holding on as Asos shares still look a smart investment
- MIDAS SHARE TIPS: Investors on solid ground after flotation of engineering services firm Van Elle
- MIDAS SHARE TIPS UPDATE: Chapel Down shares mature well as wine production doubles
FUND AND TRUST IDEAS
- SMITH & WILLIAMSON GLOBAL GOLD AND RESOURCES FUND: Mining investors strike lucky as gold regains some of its lustre
- SPW GLOBAL HIGH QUALITY FUND: Our winning strategy is to bet big, be dynamic... and hold lots of cash
- KAMES UK EQUITY INCOME: Seven years of raising dividend payments as mixture of blue-chips and lesser known income shares pays off
- BLACKROCK UK INCOME FUND: Mark Wharrier has made a triumphant return after a ten-year absence
- JO HAMBRO CAPITAL MANAGEMENT GLOBAL OPPORTUNITIES: Cash-rich global fund that's (cautiously) cleaning up
- MARLBOROUGH EUROPEAN MULTI-CAP: It's all about the stocks, NOT the big picture for top Euro fund boss
- ASHBURTON INDIA EQUITY OPPORTUNITIES: How India-based funds are revving up returns for investors
- MOMENTUM FACTOR 5 FUND: The investment where inflation spells good news
- JPMORGAN AMERICAN INVESTMENT TRUST: 'Trump or Clinton? We're more worried about interest rates'
- EVENLODE INCOME: How two Wise men turned £1m into £1bn in just seven years
- CHARTERIS GOLD & PRECIOUS METALS: Fund delivers a 12-month return of 179% as gold prices rise
- THREADNEEDLE UK PROPERTY: Fund re-opens after post-Brexit alarm subsides
- HERMES GLOBAL EMERGING MARKETS: Growth before location, that's the drill for emerging markets
- JUPITER ABSOLUTE RETURN: If a firm's in the soup we'll short it, says boss James Clunie
Latest: Mortgages & home
- Mortgage lending falls 11% in a year while buy-to-let borrowing has dropped by a fifth, data shows
- The £36k loan that'll cost Joan £300k if she sells her home: Pensioner, 88, falls victim to shared appreciation mortgage
- Banks hike the cost of fixed-rate mortgages as experts warn it's the ‘end of an era’ for cheap home loans
- Why we're fighting for fairness on shared appreciation mortgages and backing the borrowers crushed by debts linked to house prices
- As Basildon and Slough are revealed as Britain's latest property hotspots, we look at what's next for house prices?
- Estate agents that send buyers to their in-house mortgage advisers face investigation by the City watchdog
- Borrowers locked out of buying a home by tough mortgage rules could be in for some luck as watchdog promises to review them
- A tough year for property ahead: Asking prices tipped to rise just 2% next year, but homes in London could dip 5% as 'bubble deflates'
- Chronic shortage of homes will continue into 2017: One in three surveyors say properties in their area are overpriced
Latest from Saving & banking
- Challenger bank Masthaven launches two competitive fixed-rate savings deals
- Bank closures map of the UK: More than 1,000 branches have closed in just two years – and HSBC has cut more than a quarter of its network
- Natwest and RBS set to scrap monthly paper statements for all current account customers
- Scam Lloyds letters that look genuine: Criminals writing to customers warning them of 'unusual transactions'
- Looking for the perfect gift for a teenager this Christmas? Get them a savings habit
- Millions of Lloyds customers eligible for fee-free basic banking risk being overcharged as they fail to upgrade accounts
- The HSBC branch closure hitlist: Remember the adverts for 'the world's local bank?' Now see if your branch is about to be wiped out
- Banks flout new rules meant to alert savers to dismal rates paid on savings stuck in older accounts
- Leeds Building Society launches top-paying 1% easy-access account as dismal savings rates continue
- Small blessings for savers: Leeds BS equals best-buy rate by bumping up easy access savings account to 1% - but not for long
ANSWERS FROM THE Experts
- ASK TONY: Currys wouldn’t give back £200 for cooker hood I didn’t realise was broken
- Our flight was delayed by three hours - why has Thomson made us wait 11 months for compensation?
- My late mother's home sold for above the inheritance tax threshold - is it too late to have my late father's nil rate band added?
- My 'free' beauty sample ended up costing me hundreds - how can I get my money back?
- ASK TONY: I paid twice for a virus blocker on my computer but can’t get a refund
- Vodafone botched my direct debit and after NINE months it's still not fixed
- TONY HETHERINGTON: Uniform tax firm won me £63... then took me to the cleaners for £207
- ASK TONY: A cast iron drainpipe fell on my car, so why does More Than want £250?
- The cheapest energy deal is with a provider I've never heard of. Is it risky to go with them?
- TONY HETHERINGTON: My dad bought car insurance in my name but never told me - do I have to foot the bill for cancelling it?
Latest from Holidays
- Tour firm's £50 Brexit tax on your HOLIDAY! Company hammers customers with pre-booked trips because of the pound's collapse
- Holidays 'could get 20% more expensive next year': Brexit, rising oil costs and political uncertainty to hit travellers' pockets, firm warns
- Cost of foreign holidays leaps as the pound falls against 46 of the 50 most popular currencies - and it's very bad news if you're heading to Iceland...
- 'I broke my leg skiing and all my £2k costs were paid': Don’t get left out in the cold when it comes to ski cover
- British travellers risk cash crunch as shock withdrawal of 500 and 1,000 rupee notes sends Indian banks into chaos
- The Airmiles tricks that could pay for your next holiday: Savvy traveller reveals how he's flown for free for five years
- Cruise companies, travel firms and wedding venues told to stop pocketing deposits when customers have to cancel
- Ryanair's latest wheeze: Now passengers must pay £6 to check-in more than four days before a flight
- The cheapest travel destinations revealed... and why where you fly from and what day you book can affect the cost of your holiday
Currency | Rate | Buy now |
---|---|---|
Updated 15 Dec 2016. | ||
Euro | 1.1685 | Buy Now |
US Dollar | 1.2344 | Buy Now |
Australian Dollar | 1.6441 | Buy Now |
Canadian Dollar | 1.6236 | Buy Now |
Chinese Yuan | 8.3957 | Buy Now |
Croatian Kuna | 8.6241 | Buy Now |
Czech Koruna | 31.213 | Buy Now |
Danish Krone | 8.5649 | Buy Now |
Egyptian Pound | 16.27 | Buy Now |
Hong Kong Dollar | 9.5519 | Buy Now |
Hungarian Forint | 359.67 | Buy Now |
Icelandic Króna | 131.03 | Buy Now |
Israeli New Shekel | 4.5966 | Buy Now |
Japanese Yen | 142.54 | Buy Now |
Malaysian Ringgit | 6.2624 | Buy Now |
Mexican Peso | 24.468 | Buy Now |
New Turkish Lire | 4.2 | Buy Now |
New Zealand Dollar | 1.7116 | Buy Now |
Norwegian Krone | 10.341 | Buy Now |
Polish Zloty | 5.08 | Buy Now |
Singapore Dollar | 1.7573 | Buy Now |
South African Rand | 16.787 | Buy Now |
Sterling | 1.0 | Buy Now |
Swedish Krona | 11.217 | Buy Now |
Swiss Franc | 1.25 | Buy Now |
Thai Baht | 43.421 | Buy Now |
UAE Dirham | 4.5345 | Buy Now |
LATEST ON HOUSEHOLD Bills
- Finally you can buy cheap train tickets on the day and won't be stung if you forget your railcard as train companies pledge to make fares simpler
- UK households given a 'wake-up call' over rip-off energy tariffs as watchdog launches league table comparing deals
- BT caps call costs at £10 a month for vulnerable customers
- Is your 4K television pushing up your energy bills? Data shows latest-spec TVs use more energy than HD versions
- New 'two-winter' fixed energy tariff is 'cheapest on market': Flow Energy claims deal through MoneySuperMarket beats other two-year tariffs
- It’s time to vote in our Wooden Spoon Awards...So which firm drove you up the wall in 2016?
- Vulnerable energy customers may have to wait until May to receive a £140 payment designed to cut winter bills
- Ofgem under fire over GB Energy rescue deal that it struck for 160,000 households with Co-op Energy
- Still no answer Mr Vodafone? 'I've been waiting for a YEAR for Vodafone to settle my complaint, despite all the promises about better service'
- Energy bills: Could you cut your fuel costs by switching to the best deals?
Latest from Cards & loans
- Play your cards right: The best credit cards for spending, holidays, rewards or clearing your debts
- The best personal loan rates - and how to find the right one for you
- M&S Bank demand loyal credit card customers submit documents to prove identity - a decade or more after opening their account
- Why taking out £100 cash on a credit card can cost you £7.20...even if you pay it all off at the end of the month
- Borrow interest-free for three-and-a-half years! The best balance transfer credit cards to help clear your debts
- Planning to put some Christmas shopping on credit? The best credit cards to spread the cost and avoid a New Year debt hangover
- Could credit card, car finance and overdraft charges be capped? Watchdog targets new wave of 'high cost credit' providers
- Get more for your holiday money: The best debit and credit cards to beat overseas fees
- Even the rich can be refused credit by the banks: Up to a million higher-rate taxpayers told 'computer says no'
Latest from Investing
- How to profit from boom in cyber crime by investing in firms protecting us all from internet hackers
- Top performing investment trusts of 2016: After a four year slump, global uncertainty helps gold, mining and commodities top the pile
- SMALL CAP SHARE IDEAS: RM Secured Direct Lending looks to raise £100m as it tempts with promised 6.5% dividend yield
- Five potential takeover targets: As foreign firms circle 'cheap' British businesses, ITV tops broker's New Year hit list
- SMITH & WILLIAMSON GLOBAL GOLD AND RESOURCES FUND: Mining investors strike lucky as gold regains some of its lustre
- SPW GLOBAL HIGH QUALITY FUND: Our winning strategy is to bet big, be dynamic... and hold lots of cash
- MIDAS TIPS: Housing association Places for People's seven-year bond pays investors 4.25% interest
- MIDAS SHARE TIPS: RM Secured Direct Lending's £100m flotation will help boost yield for investors
- MIDAS SHARE TIPS: There's sweet success and rich rewards on offer if you check in at Hotel Chocolat
Latest: money and Cars
- Three of the best used family hatchbacks for those who don't want to a diesel: But is a Focus, Golf or Astra the best choice?
- The Ferrari only for very loyal customers: Just 10 of these J50 models will be built to celebrate half a century of selling cars in Japan
- Motor insurance cover company hits the wall, leaving thousands of customers vulnerable to fines
- Want to increase the kerb appeal of your home? A Mercedes-Benz parked outside makes a street look best, claims new survey
- Not just a pretty face: First off-road drive of the new Land Rover Discovery as it chalks up 10,0000 orders before hitting the tarmac
- Luxury carmaker Bentley holds secret talks with Brexit Minister to 'clarify' plans to leave the EU
- Parking in London is the second most expensive in the world - and at £8.84 AN HOUR costs more than the living wage
- RAY MASSEY: Bentley's new diesel diamond should get you from London to Verbier on a single tank
- Aston Martin brings back to life one of its classic ‘sixties supercars’ with a £1.5million price tag – nearly 60 years after the original first hit the road
- A petrolhead's dream holiday: Check out these snaps from McLaren's inaugural Epic New Zealand Road Tour
Latest from Markets
- Up-and-coming lingerie firm Bluebella gets a £1m boost to conquer US
- MARKET REPORT: Victoria Flooring shares hit the ceiling following its purchase of Australian firm Dunlop Flooring for £20m
- Which hedge fund caused the £500m Paysafe share price plunge? Short sellers dodge questions over who is behind anonymous report
- Tool hire firm that European rivals are just frantic to buy: Bidding battle for Lavendon reaches boiling point
- Delight for Michael Howard as corruption probe into energy firm he chairs is dropped
- DAILY BRIEFING: BP oil rig off the coast of Angola has pumped 500 million barrels in ten years
- The £400m battle to run 3,000 pubs: Shock Heineken bid sparks a takeover war for punch taverns
- FTSE CLOSE: Footsie finishes in the red as investors get set for US Federal Reserve interest rate hike
- Dutch brewer swoops on British pubs giant: Punch Taverns embroiled in takeover tussle with Heineken and rival bidders
- Boohoo shares climb 8% as £3.3m stake in PrettyLittleThing is announced
TOP CALCULATORS
- This is Money's calculators and tools All our calculators in one place. See how they could help you
- Historic inflation: how the value of money has changed The effects of inflation since 1900 and what past prices mean today
- True cost mortgage tool - rates AND fees Compare the cost of rival fixed and tracker rate mortgages
- Mortgage affordability: How much you can borrow Find out how much you can afford to borrow and the difference between repayment and interest-only
- Monthly or lump sum savings calculator How much a regular monthly savings scheme could make or a lump sum could be worth.