Britain’s dominant services sector suffered its first contraction in 20 months in December, sparking concerns about the resilience of the economic recovery. Service companies, which account for three quarters of national output, last month sold less and cut staff, according to the closely-watched Markit/CIPS purchasing managers index (PMI). Following a similar dip in construction output, [...]
The UK’s economic growth over the past three quarters has been revised downwards in official figures, marking a disappointing end to a year of recovery. The economy grew just 0.7pc in the third quarter, rather than the 0.8pc previously reported, according to the Office for National Statistics (ONS), with the production industries, services and construction [...]
Savers have seen more than £5 billion – the equivalent of £131 each – wiped off the value of their investments this year due to the rising cost of living, figures have disclosed. Interest rates have failed to keep pace with inflation, meaning that people who have tried to save some of their income this [...]
Higher rate taxpayers will each miss out on tens of thousands of pounds once their child benefit is withdrawn, experts have calculated. Here are some of the investment options that could have been used for the money and the amount that parents could lose out on if they have stayed invested over 18 years. Danny [...]
Jessica Ennis, world and European heptathlon champion, came third in the BBC Sports Personality of the Year Award. HOW DID YOUR CHILDHOOD EXPERIENCES INFLUENCE YOUR ATTITUDE TO MONEY? When I was growing up as a kid we never went without, but it was a bit of a struggle for my parents sometimes as they never [...]
The ‘Anonymous’ hackers who claim they are defending Wikileaks said that they are targeting Paypal, the internet payments company. One of the hackers told the Daily Telegraph they were attacking the website’s payment mechanism, and warned that Mastercard ‘s payment system could be next. The group has previously attacked the websites of Visa, Amazon and [...]
Savers are losing up to three quarters of their pensions in little-known fees charged by the investment funds that manage their money, a report by senior pension experts warns. Private pensions in Britain pay out on average half as much retirement income as equivalent schemes in Europe, the report says, with hidden costs blighting the [...]
The euro fell sharply against the dollar ahead of a crucial meeting of eurozone finance ministers over the direction of monetary union as a Hungarian bond downgrade left investors uneasy about European debts. The single currency slumped to $1.3277 from $1.3415 late on Friday and yields on 10-year bonds in the struggling eurozone economies of [...]
Savers will have to take on some risk if they want their cash to stay ahead of inflation. If there is one group of investors who have suffered during the economic crisis it is income seekers – there have been few places for them to turn. The economic downturn left many companies with little choice [...]
Which? Money report reveals the 10 financial products on which consumers waste thousands of pounds each year. Mobile phone insurance is among the 10 most useless financial products on which consumers waste thousands of pounds, according to a Which? report published today. Other pointless purchases include ID fraud cover, payment protection insurance and debt management [...]
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