Savings & Investment News

Five million households pay for food with credit or savings
Latest data from Which? reveals the extent to which UK families are struggling to pay for essentials such as food. The group’s April consumer tracker survey shows one in five households (five million) using credit or savings to fill the … Read more »
Banks fail on cash ISA advice
Some of the UK’s biggest banks are failing to give the right advice when it comes to transferring and managing their cash ISAs, a new investigation by Which? claims. The consumer group recently made 180 calls to 15 leading banks … Read more »
Halifax launches ISA super draw
Halifax is encouraging savers to maximise their annual Cash ISA allowance with a Super Draw that offers three top prizes of £250,000 plus 10 prizes of £5,000, all of which will be awarded in May. But once registered, customers must … Read more »
Women saving more than men
The latest Halifax Savings Barometer has revealed that although women have lower average earnings than men they are currently saving more. Female savers with Halifax have an average balance of 41% of gross annual earnings, nearly twice the 23% of … Read more »
HM Treasury and Isle of Man agree tax evasion measures
HM Treasury and the Isle of Man have reached an agreement aimed at clamping down on those who evade tax by hiding their money offshore. The package includes an automatic tax information exchange and a disclosure facility that means investors … Read more »
Cornwall and Isles of Scilly Credit Union in default
More than 2,100 members of the failed Cornwall and Isles of Scilly Credit Union will get their money back within seven days after the Financial Services Compensation Scheme (FSCS) declared it in default today. Members do not need to take … Read more »
Half of Brits expect household budgets to tighten
Latest research from Which? paints a gloomy picture of consumers caught up in a long squeeze that has left many unable to save, too worried to spend and unlikely to cope with financial shocks. In new report, the group claims … Read more »
Poor investment advice exposed in mystery shop
The Financial Services Authority (FSA) has published the results of a mystery shopping review that looked at the quality of investment advice given by banks and building societies. Approaching six major firms in the retail banking sector between March and … Read more »
UBS fined £9.45m over mis-selling of AIG fund
The Financial Services Authority (FSA) has fined UBS £9.45 million for failures in its sale of the AIG Enhanced Variable Rate Fund that led to customers being exposed to an unacceptable risk. The Swiss bank also failed to deal properly … Read more »
Investors expect FTSE to rise more than 5% in 2013
The latest share dealing market tracker from Halifax shows investors split 50:50 on whether the UK economy will grow by more than 1% in 2013. Nevertheless, nearly two-thirds of investors (63.9%) surveyed expect the FTSE 100 Index to end the … Read more »
Bleak start to ISA season
As the ISA season approaches, Moneyfacts research reveals that both average rates and product choice are falling. According to the financial analyst, the typical ISA today pays just 1.74%, compared to 2.55% this time last year. Savers also have less … Read more »
Equities more attractive than bonds
Credit Suisse has published its latest Global Investment Returns Yearbook which takes a look at the rates of return investors should now expect from equities, bonds and cash. The 2013 Yearbook notes that yields on sovereign bonds in safe-haven countries … Read more »
Lloyds TSB reports savings being squeezed
The latest Lloyds TSB Savings Index has revealed that a combination of weak wage growth and reduced spending power are limiting the ability of people to save. More than half (53%) of savers regularly access their savings through the year … Read more »
ING: Almost a third of Europeans have no savings
Dutch bank ING has conducted a survey of people in 14 European countries, and found that almost a third have no savings whatsoever. The second annual ING International Survey on Savings polled 14,000 people and its findings strongly suggest that … Read more »
BNP Paribas strengthens investment resources
BNP Paribas Wealth Management is strengthening its investment strategy resources in response to growing demand for market intelligence from its private banking customers. Florent Bronès, the bank’s newly appointed chief investment officer, is tasked with the overall management of investment … Read more »
Deutsche Bank world’s No 1 fixed-income bank
Deutsche Bank has retained its position as the global market share leader in fixed income for the third consecutive year, according to the industry benchmark study by Greenwich Associates. The financial services consulting firm reports that the bank captured a … Read more »
Nationwide launches new Web ISA
Nationwide Building Society has today announced that it has launched a new Web ISA. The cash ISA is available to Nationwide customers with a card-based savings or current account (excluding Regular Savings). Customers may apply for a Card account before … Read more »
Governor Money closed to new customers
Governor Money, which aimed to simplify savings by providing an online platform where savers can create and manage accounts with different providers, has ceased accepting new customers. The firm says changes in the savings market over the past few months … Read more »
Wegelin & Co shuts up shop over US tax evasion charges
Switzerland’s oldest private bank, Wegelin & Co., is reported to be closing, having admitted to helping wealthy US tax payers conceal their assets. According to a BBC report, the bank aided over 100 American citizens, hiding $1.2 billion from the … Read more »
Nomura launches Japan equity high dividend index
Japanese financial group, Nomura has published a new index designed to meet the increasing needs of clients for high-dividend income. The Nomura Japan Equity High Dividend 70 is an equal weight index comprising 70 Japanese stocks with highly-estimated dividend yields. … Read more »