The positive news is a stark contrast to the announcement by the Office for National Statistics, that unemployment rose 128,000 in the three months to October, hitting 2.64 million.

Morrisons

Many of the opportunities at Morrisons will be craft skills jobs such as butchery, bakery and fishmongery.

The company will also open 25 new stores next year, as it seeks to ensure that more households have a Morrisons within easy reach.

Typically more than half the new employees at a new store are previously unemployed and 75% are from the local area of the store.

In addition to the 7,000 new jobs, another 300 people will also be employed at Morrisons’ new Bridgwater Regional Distribution Centre, which will provide food for much of the South West and South Wales.

Norman Pickavance, group HR director at Morrisons, said:”Despite the difficult economic conditions, Morrisons continues to have ambitious growth plans and that means we will be searching for people to join us in the communities in which we operate.

“At a time when the number of young and long-term unemployed continues to increase we will provide opportunities for many people and help them build a career in retailing.”

Meanwhile, Britain’s oldest travel company, Thomas Cook, has announced it will shed hundreds of jobs over the next two years.

The firm has had a disastrous year in which it made a pre-tax loss of £398m in the 12 months to September, compared to a £40m profit a year earlier.

news.sky.com

The bank suggests the steady market conditions which have seen house prices and house sales stabilise in 2011 are likely to continue into next year.

However, it seems much is set to depend on how the UK economy performs during the next 12 months, which in turn will depend on how events unfold in the Eurozone.

UK Housing Market

Despite the uncertainty created by events in Europe, the bank says the low Bank of England base rate and favourable affordability conditions are set to support the housing market.

Indeed, mainly as a consequence of low interest rates, typical mortgage payments for new borrowers have fallen from a peak of 48% of average disposable earnings in mid 2007 to 26% in autumn this year.

This is significantly below the average of 37% over the past 25 years and is at its lowest since 1997.

Martin Ellis, housing economist at Halifax, said that as long as rates stay low, the odds will continue to be stacked favourably for those who already have a mortgage and those who are able to raise the required deposit.

“The favourable affordability position should also help to keep down the numbers of homeowners forced to sell their properties because they cannot keep up with their mortgage payments,” he added.

“A significant rise in the number of forced sellers is often a factor associated with sharp house price falls.”

Although house prices have been forecast to end 2012 close to where they started it, regional variations are expected across the country.

London and the South East seem set to enjoy the strongest prices thanks to their tendency to perform better economically, while anywhere outside of southern England is expected to struggle by comparison.

“Weak economic growth and the prospect of continuing high, and probably rising, levels of unemployment led by large scale public sector job losses, will constrain housing demand,” added Martin Ellis.

“Continuing significant pressures on householders’ finances will also limit many people’s ability, and willingness, to buy a home.

“These pressures will come from a combination of subdued earnings growth, high (but falling) inflation, the substantial fiscal tightening that is taking place and an ongoing re-balancing of household sector finances with many families seeking to reduce their debts.”

moneyfacts.co.uk

The average price of a litre of unleaded petrol is expected to hit £1.54 by 2015 on the back of soaring demand from booming Asian economies, according to the Ernst & Young ITEM Club.

Cutting the cost of fuel bills

That means filling up a 70-litre petrol tank would cost £107.80.

How to keep costs down

Such a rise would no doubt heap more pressure on motorists’ budgets. Indeed, a survey earlier this year highlighted how three in four motorists had already cut back on driving due to the high costs of fuel.

Actually, driving less isn’t the only way motorists can cut their fuel bills. RAC estimates that you can save as much as £100 a year simply by driving more efficiently. Here, we look at the eight most important tips:

• Pump up to cut down: under-inflated tyres create more resistance when your car is moving, which means engines have to work harder, so more fuel is used (the owner handbook will advise the correct pressure).
• Clutter in boots adds weight and engines must work harder to transport it. Removing it can ease the engine’s workload and therefore the need for fuel. Also remove roof boxes or rails when they’re not in use to reduce the drag.
• Not only does staying at or within the speed limit increase driver safety, it also saves money on fuel.
• Less stopping and starting means less fuel consumption: try to anticipate traffic flow and keep a fair distance to the car in front.
• Don’t over-rev. Modern engines are designed to be efficient from the moment they are switched on, so revving it when you first start your car only wastes fuel and increases engine wear.
• Similarly, idling is wasting fuel: if you’re likely to be at a standstill for more than three minutes, simply switch off the engine.
• Shop around: use a fuel comparison website such as petrolprices.com to find the best-priced fuel in your neighbourhood.
• Don’t waste fuel by going the wrong way – plan your routes before leaving.

uk.msn.com

Zynga Inc. is the latest in a spate of IPOs by Internet companies this year, ranging from professional networking service LinkedIn Corp. to the online deals site Groupon Inc. They’re all precursors to Facebook’s public debut expected sometime after April next year. Facebook could fetch as much as $10 billion in its offering.

Zynga

Zynga, whose games are played mainly on Facebook, plans to sell its shares at $8.50 to $10 each. If the shares are priced at $10, Zynga will be valued at $7 billion based on the number of its total shares. That’s a smaller valuation that the company’s shares have traded recently on SharesPost, a secondary stock exchange used to trade the stock of privately held companies. There, a recent trade valued Zynga at $11.7 billion.

The company expects to sell 14.3 percent of its available stock, according to a filing with the Securities and Exchange Commission. That’s a relatively high “float,” which could give investors confidence that the company isn’t trying to artificially inflate its value. Groupon raised some concerns when it sold just 5.5 percent of its outstanding stock. Though not unprecedented, the amount was below that of many prominent tech companies, such as Google (7.2 percent), Amazon (12.6 percent) and LinkedIn (8.2 percent).

The offering gives investors the option to buy an additional 15 million shares to cover over-allotments, bringing the total number of shares for sale to 115 million.

Newly-public tech companies aren’t always a hit after their initial offering. Shares of Internet radio company Pandora Media Inc., are trading below their IPO price and Groupon is slightly above and has fluctuated wildly. Unlike those two, however, Zynga is profitable. The company makes most of its revenue by charging small amounts of money for virtual items in its games. Players pay for new crops in “FarmVille,” for example, or new buildings in “CityVille,” its most popular game.

The company plans to use the proceeds from the offering for general corporate purposes such as game development, marketing and other expenses. It also plans to use part of it for its philanthropic venture, Zynga.org.

Zynga has about 2,300 employees. It was founded in 2007 by CEO Mark Pincus. Following the IPO, Pincus will continue to be the sole holder of Zynga’s Class C stock, each share of which carries 70 votes. After the offering, Pincus, 45, will control about 36.2 percent of the total voting power at Zynga through Class B and Class C shares he owns.

Companies often split their stock into different classes to keep control of the decisions about the company in the hands of founders and early employees. But having a class of shares carry 70 votes is unusual — about 10 is more common.

abcnews.go.com

The Transport Salaried Staffs’ Association (TSSA) said fares would rise by 8% on average next week, followed by sharp hikes in the coming years.

Tips to save money on rail fares

As a result, an annual season ticket from Swindon to London would rise from the current £7,024 to £9,009 by 2015. Similarly, a season ticket from Manchester to Liverpool would jump from £2,536 to £3,253, the TSSA said.

The union is calling on the government to abandon such sharp hikes, which it described as an “unfair stealth tax”. However, the coalition has insisted that the hikes are necessary to fund ongoing investment in UK rail infrastructure.

How can you avoid rail rip-offs?
So with dramatic fare rises seemingly unavoidable, it’s important to take whatever action you can to cut the cost of train travel. Here are our top tips to help you do just that.

Book in advance. If you can, book 12 weeks before the day of travel – this is when the tickets are released, and is the optimum time for grabbing a bargain. It may be difficult most of the time, but it’s a must for holidays and travel around the festive season, when trains are busier and more expensive.

If you can be flexible with your dates then this could help you avoid peak times and weekends, which both bump up costs. If you are travelling at short notice or have not had a chance to book in advance it may not be too late. It’s possible to get discounts online on the day of travel, and generally just about any option is cheaper than simply buying at the station on the day you travel.

Research prices. National Rail Enquiries is a good starting point to check schedules and prices first. But take a look at the site of the train operator you’ll be using too, as they often have special offers. Most let you sign up for emails so you know when certain tickets go on sale, and you’ll also be informed when promotional tickets go on sale for as little as £1.

Avoid charges. Before you book online, find out whether you will be liable for any fees. TheTrainLine and RailEasy sites both make booking charges and add on credit card fees. You might want to use them for research but buy elsewhere.

Invest in a railcard. If you are eligible, railcards can be a very wise investment that pays itself several times over. There are several different types, such as for ‘Friends and Family’, ’16-25′ and ‘senior’ travellers.

Split your tickets. It may seem like a lot of fuss and an unlikely way to save money but for certain trips, it can be as much as half the cost to buy different tickets for different parts of one journey. All you have to do is take the same journey with two tickets instead of one – and you don’t have to break your journey at the middle station. For example, for a return trip to Edinburgh, it may be cheaper to buy a single ticket to York and then from York to Edinburgh, rather than a return for the whole journey.

Splitting works because different rail companies charge for different parts of the same journey. It’s perfectly legal to split tickets providing the train you take stops at all the places you have bought tickets for and does not just pass through them. Once you know your route and date of travel, you can research options on the National Rail site. There is also an independent consumer site – SplitYourTicket.co.uk – which does the work for you.

Buy two singles. We are always led to believe that a return ticket saves us money but on some routes, at some times, two singles may be cheaper. Again, check National Rail and other sites before you travel.

Don’t assume a season ticket is cheapest. With many overland stations now signing up to Oyster Card or similar schemes, you may save money by ‘touching in and out’ and topping up as you go. Hull Trains, National Express and Virgin all sell carnets – books of single tickets – which are a more flexible option for some travellers.

What’s more, don’t assume that you have to purchase a 12 month season ticket. If for whatever reason you know you won’t be travelling in to work for a period at some point in the year, you can request a shorter season ticket.

Travel in packs. If you’re travelling in a group, offers like Groupsave can help you cut costs. The size of the discount will likely depend on the amount of people you’re travelling with, but it’s certainly worth investigating.

Get compensated. If you get let down by a delay or cancellation then consider getting some money back. If your train is delayed by more than 30 minutes you may be due for a partial refund so keep your ticket and pick up a reclaim form from the station.

Bear in mind that train companies are only obliged to pay compensation for a delay if it is due to circumstances that are ‘within their control’. Examples of things outside their control include acts of terrorism, severe weather conditions and line closures at the request of the emergency services (such as a lineside fire that makes it potentially unsafe to operate services).

If a delay is deemed to be out of a train company’s control passengers are not automatically entitled to compensation. However, many train companies will now offer a goodwill gesture if you have been significantly delayed so it is always worth asking for compensation.

If you are travelling on the underground and your train is delayed by 15 minutes or longer then you can make a compensation request via the TFL website.

uk.msn.com

More than four in ten of us will buy our Christmas presents online between 29 November and 6 December with a third due to spend over £200 on this year’s Christmas gifts – with last year figures showing that more than £1m per minute was spent on Cyber Monday alone.

Cyber Monday

Richard Stables, chief executive at shopping comparison website Kelkoo, said: “Cyber Monday is the most important day in an e-tailers’ calendar. Online retailers can see sales rise by up to 60pc in the six weeks running up to Christmas compared to the rest of the year, and at no time is this more evident than on Manic Monday, when online sales are forecast to peak at £22.4 million per hour.” We look at five sales this weekend.

Amazon.co.uk

Amazon.co.uk has launched its Lightning Deals sale, where customers can find huge discounts within a 15 minute window. The sale ends today at 12pm, so act fast to save. Deals today have included Lorraine Pascale’s Baking and Home Cooking Made Easy book set, for just £13.49 compared to the normal price of £38.99 – a savings of 65pc, while a Toshiba 40VL758B 40-inch Widescreen Full HD 1080p LED TV with Freeview HD can be found for just £369.99, down from £666.78 – a discount of 45pc.

Apple

Apple is holding a one-day shopping event where items are discounted by as much as 20pc off. For instance, if you shop before 12am tonight, you can find an iPad 2 for just £368, down £18 from £399 while a Macbook Pro is reduced by £81 to £918.

Asda Direct

Asda Direct has today kicked off a four-day cyber sale with new online exclusive deals every few hours from Friday to Monday. Items on sale have included an Olympus FE-5040 Digital Camera, with regularly retails at £96, for just £65 and the latest Duke Nukem PS3 game for just £39.97, down from £55. Standard delivery is free or items can be picked up in store.

Gap

Gap UK are holding a pre-Christmas 30pc off sale offering a range of reduced summer/autumn pieces and early winter clothing. For items not in the sale, use discount code GAPSAVE30 before Sunday and receive 30pc off. Alternatively, download the voucher on your mobile phone from Vouchercloud to show in store.

Comet

Today is the final day of Comet’s Five-Day Frenzy where shoppers can save as much as 50pc off. Products on offer include Russell Hobbs14597 Filter Coffee Machine for just £29.99, down from £69.99 – a savings of 57pc. While a Samsung UE46D500046″ LED Backlit TV can be found for just £629, down from £729 – saving nearly 15pc.

telegraph.co.uk

The number of unemployed 16 to 24-year-olds went up to 1.016 million, from 991,000 the previous month, according to the Office for National Statistics (ONS).

Youth Unemployment

Total unemployment increased by 129,000 between July and September to 2.62 million, a jobless rate of 8.3%.

However, the number of people claiming Jobseeker’s Allowance last month increased by just 5,300 to 1.6 million, it said, the smallest rise since February.

Employment Minister Chris Grayling told Sky News the eurozone debt crisis was to blame for the soaring number of jobless.

“If you go back four months unemployment was falling, youth unemployment was below 900,000. We’ve seen a big slowdown in the economy, I think as a result of the crisis elsewhere.

Rising Joblessness: What Is The Solution?

He said that the message from business leaders who held a breakfast meeting with Prime Minister David Cameron this morning was that they were “now moving in a very cautious way”.

“They’ve not yet seen a significant impact on their performance but they are holding on, they’re not recruiting, they are taking a cautious approach because of what they are seeing elsewhere in the eurozone.”

However, Paul Kenny, general secretary of the GMB union, said the Government should take some responsibility for the situation.

“For all the economic problems in other parts of Europe, the number of young people out of work is far higher in the UK than in other parts of Europe and is three times higher than in Germany,” he said.

“Instead of attacking pensions and employment rights and making it easier to sack people, the Government should be pursuing policies to create jobs, which is something it is failing miserably to do.”

The rise in youth unemployment is the eighth successive monthly increase and the highest figure since comparable records began in 1992.

Martina Milburn, chief executive of youth charity The Prince’s Trust, said: “Today’s figures are a wake-up call for Britain. It is critical to help young people into work for the future of our economy and society.

“It’s time to redouble our efforts to ensure every young person, no matter what their background, is provided with the support they need and deserve.”

Average earnings increased by 2.3% in the year to September, 0.4% down on the previous month, with average pay now £463 a week.

Long-term unemployment has also increased, with those out of work for more than a year rising by 31,000 to 868,000.

The number of people out of work for more than two years was 422,000, up by 13,000 from the three months to June.

finance.yahoo.com

Children set to face high university costs

Children born this year will face university costs of almost £100,000, according to new data, as even modest inflation is likely to double costs over the next 18 years.

New parents – as well as those with young children – are being urged to make the most of Government-backed tax-efficient savings schemes to help offset these costs.

And it isn’t just education costs that many parents opt to save for. A child born this year will need an estimated £80,000 as a deposit if they want to buy their first home at the age of 25.

Danny Cox, the head of advice at Hargreaves Lansdown said: “Last year the Bank of mum and dad already spend £1.6bn on student related costs and £8.4bn on mortgage and rent assistance. This trend can only be expected to continue.” He said that even with just modest inflation, university and housing costs are likely to soar over the coming decades.

From next year, when the cap on tuition fees is raised to £8,000 a three year degree course is expected to cost £53,000 – once rent, and other living expenses are taken into account. Currently, the average price of a property bought by a first-time buyer is £124,000. Factor in long term house price inflation, and this will increase to £533,000 by 2026. If buyers are required to but a 15pc deposit down this would mean an outlay of almost £80,000.

Mr Cox advised parents to take full advantage of their child trust funds, or Junior Isas – which will be launched on November 1.

These new Isas will allow parents to save up to £3,600 tax free on behalf of their children. However, only those whose children were born since January 1 2011 – or before September 1 2002. Those with children born between these dates have a Child Trust Fund instead.

Parents can either save use these savings vehicle to save into a cash account or stockmarket-linked fund.

Unlike CTF, the Government does not pay any amount into a Junior Isa. However, savings into both schemes are on top of any savings made into a regular Isa or pension.

telegraph.co.uk

Retirement

You don’t have to move to Holland, Canada or Chile to improve your pension prospects – there are steps that all consumers can take to boost their retirement income. Here we list five of the best ways.

1. Join your company scheme

If your employer invests into the pension on your behalf, make sure you sign up. This is effectively “free” money: many firms have a matching arrangement where the more you put in, the more they will, too. Try to maximise your contributions to take advantage of higher rates.

2. Check charges

Those with a private (personal) pension should check the charges, particularly on older schemes. These should be listed on annual statements – if they aren’t, talk to your pension provider or financial adviser. Could you get a similar pension with a lower charge? It is now possible to buy a low-cost Sipp (self-invested personal pension), where you can choose which funds to invest in.

3. Check performance

Charges shouldn’t be viewed in isolation. It is also important to gauge how your pension fund is performing. If it is not delivering reasonable growth over the long term (five years or more), you should consider switching. However, be wary of switching on the back of one or two years’ poor growth – this could simply be the result of more general market movements.

If you have a high-charging fund delivering stellar performance, you are likely to be better off than with a low-charging, poorly performing one. However, many badly performing funds also have some of the highest charges.

4. Shop around for an annuity

Two in three people still take the annuity deal offered by their pension provider – yet they could boost their income by a third by shopping around. Tell your annuity provider about any previous health problems, or medication you might be taking, as this can significantly boost your income. This also applies to those who smoke, have high blood pressure or are overweight.

5. Start young

Thanks to the benefits of compound interest, it can pay to start young. As a rule of thumb, take the age you started a pension, halve it – then save that percentage of your salary each month. For those who do not get around to pension planning until their forties, they really need to be squirrelling away 20pc of their salary if they want a comfortable retirement.

telegraph.co.uk

Senior woman reading book

The site, called Paying for Care (www.payingforcare.co.uk), has been launched by annuity providers Partnership, but is designed to give impartial and comprehensive advice on all aspects of the care system.

This will include information on local authority assessments, finding a care home, contacts for local charities, as well as details of how to find an appropriately qualified financial adviser for those who need advice on meeting care costs.

Negotiating your way through the care system can be difficult – particularly for “self-funders”. People can find themselves being passed between GP services, local heath trusts and social services – and there are reports that some local authorities give contradictory and sometimes incorrect advice.

Chris Horlick, the managing director of Partnership’s care division, said: “All too often self-funders are simply sent away with a booklet that basically contains adverts for local care homes. Many aren’t given information on why they don’t qualify for help, let alone what funding options are now available and how these might affect their tax position, state benefits or any future inheritance.”

This situation is not helped by people often having to make important decisions on the care of a loved one at relatively short notice and at a time of emotional upheaval; many people can feel guilty that they can no longer properly care for a spouse or parent.

According to a recent NOP poll, almost three in four people did not know what funding products were available to help meet care costs; and almost 80pc said not enough is done to tell people about the options.

Surprisingly, the poll found that only one in 10 people would contact their local authority for information about care home fees and just 4pc said they would seek financial advice. Less surprisingly perhaps, the charity Counsel & Care found that only one in 20 people it interviewed found the care system easy to navigate.

Imelda Redmond, the chief executive of Carers UK, said: “Every year we hear from thousands of families who are distressed about how they will pay for long-term care. The current system is complicated and quality information sparse. This site will help those families navigate the maze of information and rules and assist them in finding the right answer for themselves and their loved ones.”

The latest figures indicate that 41pc of people in care homes are self-funders, who receive minimal help towards costs. So out of 130,000 people who go into care each year, more than 50,000 are paying the bulk of care fees themselves.

Those with more severe health needs may get a contribution towards nursing costs (the exact level paid will depend on their condition) but are expected to meet accommodation fees and “personal care” costs themselves. This will include paying for a carer to help with dressing, washing, feeding and so forth.

And it’s not hard to see why so many are left to pay their own care fees: local authorities will only provide help if a person’s assets – and this often includes the value of their home – are less than £23,250. There are certain circumstances in which the home will be disregarded, the most common being if a spouse is still living there.

But self-funders do have options. Financial products such as annuities may be beneficial for those who can afford them. These guarantee to pay a fixed monthly amount indefinitely – so regardless of how long you live, the care fees can be paid.

Given that the average care home now costs more than £30,000 a year, even people with substantial assets can deplete them, forcing them back onto local authority provision. This can mean later moving to a cheaper care home, possibly further from relatives.

Those looking for financial advice should ensure they contact an adviser with appropriate qualifications. From the alphabet soup of qualifications advisers can take, the relevant one is “CF8″ which deals with care funding issues. But only 3,300 of 30,000 qualified financial advisers in Britain have this specialist training.

Telegraph.co.uk