Money

Updated: 16:49 EST

'I cashed out my Isas and lumped half of it in Bitcoin'

Recently, a taxi driver told me how he had taken money out of his Isas - and turned to Bitcoin and Premium Bonds instead. A foolish strategy - or a genius move? It's hard to say, but at least he has a balance.

There is a simple solution that could at least ease the pain of people paying thousands of pounds a year to get to work - officially allow people to salary sacrifice their season tickets.

Jaguar I-Pace undergoes final tests in Tesla's backyard

If Elon Musk had peered out of his California office window last week he might have caught a glimpse of the new electric car that's set to challenge his Tesla brand's market dominance. The vehicle in question is Jaguar's 2018 I-Pace - an all-electric premium SUV that is set to undercut the most affordable Tesla equivalent - the Model X 75D - by £10,000 and wipe the floor with in in a game of Top Trumps.

The idea of two of the oldest names in British bookmaking, Ladbrokes and Coral, falling into the hands of Isle-of-Man online gaming group GVC, is both extraordinary and dispiriting.

Ladbrokes Coral, which dates back to 1886 and was known as the Queen's Mother's favourite bookie, has revealed it is in talks about a possible takeover by Foxy Bingo owner GVC Holdings.

Figures from the IA revealed UK Equity Income as the worst selling sector, losing £272million, as private investors pulled out more cash than they put in.

EDITOR'S DEALS OF THE WEEK
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MARKET REPORT: HSS shares rise after plan to save £14m

The firm has identified between £10million and £14million of savings to drive it to profitable growth after a strategic review under new boss Steve Ashmore. HSS said it had seen room for improvement in its heritage tool hire division, which deals with smaller rental equipment such as power diggers and carpet cleaners, by focusing on customers, products and branches.

The price of bitcoin whipsawed yesterday, rocketing from below $13,000 to above $16,000 in less than 24 hours - then tumbling 21 per cent in minutes.

Lidl spent 22 per cent more on staffing costs in the year to the end of February as increased investment in wages and recruitment pushed its total employee spend to £419m.

London-based DS Smith, which produces millions of tons of cardboard and plastic packaging a year, joined the FTSE 100 last week. Its customers include Amazon, Asos and Next.

The chief executive of Poundworld, Gerry Gray, has stepped down from his role with immediate effect after just two years, citing personal reasons.

Hornby, 50, hosted his Christmas drinks in Mayfair's chi-chi Mark's Club this week, where guests included Crystal Palace owner Steve Parish and reality TV Z-lister Trinny Woodall.

First-time buyer average deposit to hit £81K in 10 years

The average deposit that first-time buyers need to get onto the property ladder is expected to rise to more than £80,000 in the next 10 years. Highlighting the extreme financial pressures placed on those wanting to buy their own home - mortgage broker L&C; created an interactive map that shows how first-time buyers will be affected across the UK.

The Brexit Secretary said quitting the Brussels cub will amount to a 'paradigm change' on a level with the biggest  financial slum since the Depression of the 1930s.

Where do you keep your car keys overnight? If you're one of 96% of motorists that don't secure the you're vulnerable to car thieves using high-tech gadgets to steal vehicles.

ASK TONY: iPhone delivery was signed for but never arrived

I bought an iPhone 6 on eBay for £200 plus £5 postage. The seller sent the phone to me straight away via Royal Mail's 'signed for' service. Unfortunately, on the day it was apparently delivered, my husband and I were both out. When I got home I saw online that the parcel had been delivered and signed for. I checked with my neighbours and looked for the parcel to no avail. Royal Mail spoke to the driver who apparently said that he had left it in my mailbox.

Savers can now get their hands on four new accounts from National Savings and Investments as it looks to attract more cash into the financial year.

There are no guarantees in the world of investment but experience can be drawn on to help shape decision making. Here a leading expert share his views on what's in store for 2018.

Get an investing Plan B to protect against a market crash

History teaches us that bull runs never last forever and eventually markets will plunge into a bear territory, or even worse face a full-on crash. When exactly this will happen is anyone's guess, so unless you have a fully functioning crystal ball, having a contingency plan is a wise move.

Most major savings providers waited until this week to make changes to their deals, even though the base rate was hiked by 0.25 percentage points to 0.5% a month ago.

Just how much you need to cover essential expenses will be personal to you. But it's not hard to calculate it once you've dug out the relevant paperwork and done some basic sums.

Driving BMW’s futuristic family car the i3s

With the government desperate to get as many drivers to ditch diesel and buy electric cars, it's about time there was a zero-emission model that we can all live with. Is BMW's i3s that car? We took the new family-friendly hatchback for a test in Lisbon, Portugal, to find out.

Should you find yourself putting off renewing your home insurance until tomorrow, or feeling confused by compound interest, you can blame evolution. We explain why and what you can do.

OECD report puts Britain bottom of pension league table

Britons thinking about retirement should not rely on their state pension or face up to a huge fall in earnings, a report from the influential OECD shows. The report that put the UK bottom of the pensions league showed retirees face the steepest income drop compared to any other OECD country - behind Mexico, Poland and Japan - if they rely solely on state pension payments.

Paul Thomas travelled to Taibach, in the shadow of the Port Talbot steelworks, to investigate allegations that workers are being badly advised by financial advisers.

Steelworkers are being told they can have hundreds of thousands of pounds right now - an alluring prospect - if they give up a steady pension income in the future.

Bank branch bloodbath sees 1,000 close this year

Twice as many are closing their doors this year than in 2015 or 2016,So far this year, 962 branches have shut up shop, according to consumer champion Which?. The closures picked up pace last week, when RBS-NatWest announced it was getting rid of one in four of its branches.

Despite petrol and alternative-fuel vehicle registrations rising, a 31 per cent dip in diesel demand saw the total new car market fall by 11.2 per cent year-on-year.

Shops are charging rip-off fees if customers fail to pick up their click-and-collect orders within as little as ten days. The service allows shoppers to order goods online then pick them up in store.

Liverpool's Epstein Theatre falls into administration

The historic playhouse, which first opened its doors in 1913 as Cranes Music Hall, has appointed FRP Advisory as administrator after falling behind on its rent. Liverpool council owns the freehold, but the ownership structure is complicated by the presence of a long leaseholder, Hanover Estate Management.

A judge in the US has ruled 17 senior executives can be handed the payouts if they meet performance targets for holiday sales - on top of lavish perks they are already given.

Bogdanovic, 45, will take up the post at the FTSE 100 company with immediate effect. The firm is the second-largest bottler of Coca-Cola in the world, with sales of £5.5billion in 2016.

Brothers Marc and Nathaniel Meyohas and business partners Richard Perlhagen and Daniel Goldstein are charging interest of 9.6 per cent on a £154m loan to the business.

Christmas has come early for investors in Legal & General after the insurance giant stated it is on course for a record year of profits.

GE slashes 1,100 jobs in Stafford and Rugby

Today's actions are driven by challenges in the power market worldwide. Traditional power markets including gas and coal have softened. The planned losses will hit the UK's Midlands engineering heartland, affecting Stafford and Rugby, with the total potential losses representing around 6 per cent of the company's UK workforce.

GVC, which is the parent company of a number of gaming brands such as Sportingbet and PartyCasino, has tabled a cash plus shares bid.

The Hammerson takeover of rival property outfit Intu and Cineworld's bid for America movie chain Rega illustrate that in Brexit Britain multi-billion pound deals are still possible.

Lloyds' boss Antonio Horta-Osorio met Prince Charles for a friendly pow-wow at Clarence House this week. Antonio, 53, has successfully steered Lloyds back into private ownership.

Wakelin, 54, cashed in as soon as he was allowed to sell them, following Biffa's listing in October at 180p. He sold 751,121 shares on December 1 at 252p, and 15,437 on December 5 for 249p, netting £1.9m.

What is a dividend? Watch our simple explainer

And don't think that you have to be a big investor to be affected by dividends. You may be profiting from them without even realising. In this episode of the Big Money Questions, Marcus Stadlmann, chief investment officer at Lloyds Private Banking explains what they are, how they work and how they can make you richer.

Homeowners have been rushing to switching their mortgage to a cheaper deal after the Bank of England raised interest rates last month - but better deals could be imminent.

In the 12 months to March 31, the Pension Protection Fund has doled out £661.3m to 129,661 pensioners - up from £1.4m a decade ago when the PPF launched.

Bitcoin Bay on Caribbean island for sale at £5.3m

The owners of this Caribbean property for sale on Bloody Beach Bay will only accept Bitcoin as payment (and are refusing cash). It follows the phenomenal rise in value of the cryptocurrency. A spokesman for the company selling the property said: "Someone wise or brave enough to have got in early on the cryptocurrency phenomenon could soon be lifting their rum cocktails to toast the bargain of the century."

All investment is risky but some propositions amp up the stakes to levels akin to slot machines in Las Vegas. And that's exactly the category binary options fall into.

Along with other cryptocurrencies, Bitcoin has been backed by famous fans from Baroness Mone (pictured), to reality star Paris Hilton and football manager Harry Redknapp.

UK's drink driving capital of 2017 revealed as Sunderland

Analysis of more than 7 million insurance quotes by comparison MoneySuperMarket has revealed which location has the most drivers with over-the-limit convictions in the last 12 months and also highlighted the occupations with the most drink and drug drivers in the country.

An anonymous bidder has paid £1,345,500 at auction for a 1964 Aston Martin DB5, once owned by the former Beatle, who bought it for £3,800 in the summer of 1964 and later by Chris Evans.

With dealerships desperate to increase their sales figures before the end of the year, you can usually get a good discount on a new car in December. But expect to be stung by insurance.

How do I get Warm Home Discount on my electricity bill?

The Department for Work and Pensions has awarded me a 'Warm Home Discount' payment of £140. When my electricity bill came in this payment was shown on the bill as being £133.43. When I telephoned British Gas they told me that it was a 5% VAT charge.

Lamborghini reveals its Urus supercar SUV

The Lamborghini Urus follows in the footsteps of the 1986 LM002, and the Italian exotic car maker has dropped a colossally powerful engine into a 4x4 to create an offroad family vehicle that will be able to blitz just about everything that comes into its path. Revealed in Italy today, the Urus uses a 4.0-litre twin-turbocharged V8 engine packing 641bhp and will cost £157,800 or $200,000 before tax.

The 'roadworks embargo' will be enforced from 6am on December 22 to 12.01am on 2 January to help people get away this Christmas with 'as little disruption as possible', Highways England said.

The fastest and most expensive BMW M5 has hit the road to deliver the sixth generation of the ultimate super-saloon and Ray Massey for behind the wheel.

Top credit cards for Christmas spending

While Christmas gives many a great day and holiday period to look forward to, it's also one of the most expensive times of year for most families. Whether you are looking to earn rewards or carefully spread out the cost of Christmas, we look at the best credit cards to do so.

Boost your computer’s brainpower without breaking the bank

High-tech gadgets are no longer just useful - they are essential to survive the demands of modern life. But it is only when a computer crashes or grinds to a halt - destroying files or losing photos - that we realise how much we rely on it. Here, we explore the world of computer storage - and how you can boost its memory and reliability without breaking the bank. Web psychologist Nathalie Nahai (pictured) believes a fear of computers is quite natural.

This week we should learn whether the Government acknowledges this when it publishes its recommendations for reform of this policy initiative.

With the mercury plummeting, it would be very bad timing for your boiler to pack-up. Especially when only a fifth of buildings insurance policies cover heating breakdown as standard.

Will the £8,000 Bitcoin be a Christmas cracker?

What about a gift of cryptocurrency this Christmas? It could be the perfect present for the tricky person who has everything. And if the meteoric rise of Bitcoin - the darling of digital currencies - continues, it could prove to be the gift that keeps on giving. But it could also end up worthless if the current boom turns to bust. Heather Baker (pictured) has recently joined in the cryptocurrency craze - not as a spender but as an investor.

The owner of the New York and Chicago mercantile exchanges has warned the pound could face a 'nightmare scenario' if Jeremy Corbyn becomes prime minister.

Thousands of people pestered with nuisance texts could be paying to receive them by companies charging fees direct to customers' mobile phone bills. Derek Knowles complained.

Health policies have changed, check your critical cover

Stick, twist, top up - or discard? These are the options facing thousands of holders of longstanding protection insurance policies. The cover provided by critical illness insurance - which pays out a tax-free lump sum when a serious illness is diagnosed - has been transformed in the past five years, leaving many customers wondering whether their policies are still fit for purpose. Angela Alston (pictured) was glad of her cover.

A billion Christmas cards will be sent this month, but if you really want to share in the season of goodwill, ensure that charities also benefit from your greetings. Jan Harvell supports Born Free.

RBS's management turned a blind eye to widespread failings at its notoriously ruthless division that was meant to help struggling small firms, according to secret documents.

RUTH SUNDERLAND: Bitcoin a new gold? Stick with shovels

Surreal moments are a hallmark of any bubble. So when pop star Katy Perry went on Instagram to say she had met the world's most famous investor, Warren Buffett, and asked him what he thought of cryptocurrencies, alarms clanged. Buffett declared three years ago that Bitcoin, then valued at around $600, is a 'mirage' and a 'joke'. It has since soared to a stupendous $11,000 at one point last week - but the Sage of Omaha might yet be proved right.

Shareholders saw their investments dwindle almost to nothing before Hummingbird staged the beginnings of a recovery over the past year. But the company has survived.

The UK's largest ten-pin bowling operator, it listed on the stock market in September 2016 at 160p. The shares are now 188½p. They are likely to increase as the business expands.

How to invest for higher inflation: Buy banks, not beer

Investing for a low inflation world has paid off handsomely in recent years, as defensive shares with a reliable dividend have seen their prices rise substantially. But is it time for a different course of action? Better opportunities lie elsewhere believes Schroders' James Sym.

Hart has stuck to her guns, employing a few basic rules to ensure the fund does not go off the proverbial rails. Conservatism is her watchword.

From the first Bond film, Dr No, in 1962 to last year's blockbuster La La Land, FFI has issued contracts on 1,700 productions with gross budgets in excess of $17billion.

Neil Woodford losing count of the ‘lights flashing red’

Britain's highest profile fund manager Neil Woodford has warned financial markets now have 'many flashing red lights' - with what he sees as a widespread bubble in place. With share prices fuelled by the unprecedented central bank action taken in the years since the 2008 financial crisis, Woodford drew parallels with the 'dot com bubble' of the late nineties.

This is Money podcast: Demonising diesel cars and bitcoin

Is diesel being unfairly demonised? Britain's car industry is crying foul, as not a single new diesel car avoids the Budget tax hike because the test they have to pass hasn't come in yet. Is bitcoin in a bubble? Cryptocurrency fans say no, because while the price has risen tenfold this year, the blockchain and bitcoin have a use. We dive into two things hitting the headlines this week, diesel cars and bitcoin.

Having just driven the new plug-in electric TX taxi, which goes into official service with fare-paying passenger next week, I think it's one of the best practical urban family cars on the road.

RBS to close 259 branches, so why are banks shutting?

It has been a black week for bank customers as yet another round of branch closures was announced - this time by RBS and NatWest. It came after Lloyds Banking Group, which also includes Halifax and Bank of Scotland announced a wave of closures. Why is this happening and where will they shut?

One of the lucky winners of a £1million Premium Bonds prize will be toasting Christmas arriving early today - after scooping the jackpot with a bond bought just last year.

Lloyds Banking Group will close a further 49 bank branches and Yorkshire Building Society will close 13 more. Check the map and table to see if your local branch is set to close

My separated husband has cashed in £60k worth of pensions

My husband and I have been separated for over five years. He has cashed his pensions in to a total amount of £60,000. Am I entitled to any of this money? Jaqueline Major (pictured), lawyer at Hodge Jones & Allen, explains that it is possible but there may already be a formal deed of separation, where a partner has agreed to provide an income.

Phoenix Life will allow savers to swap their lifetime incomes for a one-off lump sum. Around 20,000 savers with small annuities will be sent letters outlining how much they could get.

Will I be able to access my pension, withdraw money, or move it in another pension fund if I am no longer living in the UK at retirement?

Is the Government unfairly demonising diesel cars?

Another attack on diesel cars was slipped into the Budget last week, with the threat to bump new vehicles up a first-year tax band. But there's one small problem - the test they have to pass isn't in yet. So it's no surprise that the motor industry says the Government is demonising diesel. Is it right, or just worried about flogging cars?

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.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa. To that end, this is our distilled guide to getting started.

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. 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?

Old people / couple (figurines) - sitting on a pile of money coins - savings / bills / financial / investment / pensions concept.
BH2YX5 
savings, money, finance, pensions, savings, money, finance, pensions, retirement, coins, pensioners, future, security, insurance, savings, money, finance, pensions

Making the most of a pension is your best chance of securing a decent income when you retire. We explain what you need to know.

Even at a time when we are stretching our finances further to afford a home, moving less, and pushing mortgages beyond 30 years, we still remain captivated by two-year fixed rate deals.

When will UK interest rates rise?

The Bank of England has raised the base rate back to 0.5 per cent. The move up from 0.25 per cent is accompanied by an Inflation Report, which will outline where the bank sees things moving next. Expectations are that rates will not move up swiftly after this first rise, This is Money will bring you the details of the Inflation report and analysis imminently.

What next for mortgage rates?

Borrowers are being offered a raft of cheap fixed rate mortgages as lenders attempt to lure them into remortgaging or buying a home. But HSBC has decided to buck the trend and launch a new rate mortgage that is a tracker instead. We pick out the best fixed and tracker rate mortgages and look at what next for rates.

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

Best paid jobs and biggest pay rises of 2016 revealed

Compare your pay to the national average and see whether your employer treated you to a pay rise in line with the the rest of your profession. Farmers, care and air travel assistants were big winners on the pay scales in 2016. Travel agents, careers advisers and probation officers lost out.

Premium Bonds winners

December 2017
Prize value Winning bond No. Area
£1,000,000 60PV693631 Cornwall
£1,000,000 273WE102226 Kent
£100,000 35RR629565 West Sussex
£100,000 299ET677431 Cumbria
£100,000 251QM976219 Avon
£100,000 155MW909384 North East Scotland
£50,000 80JH932161 London
£50,000 72CY368436 Oxfordshire
£50,000 303YS939445 Essex
£50,000 270VD138656 Buckinghamshire
£50,000 250PF153091 London
More Premium Bonds winners
   

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New York-based Sachem Head Capital Management revealed it now holds 3.4 per cent of Whitbread, which also owns Premier Inn, sending the climbing 7.6 per cent at 280p.