M&S Bank slashes interest rate on its regular savings account from 5% to just 2.75% The news comes HSBC and First Direct cut the rates on their regular savings accounts in October Stephen Little Mon, 11/18/2019 – 15:01 Image M&S has become the latest bank to slash its regular savings rate. The bank is has cut the rate on its fixed-term regular savings account from 5% to 2.75%. It comes after HSBC and First Direct cut the rates on their regular savings accounts in October. This year has been a tough one for savers, with lenders cutting rates across the board
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There’s something deliciously illicit about disappearing for a well-timed break just as everyone else is contemplating the nightmare logistics of Christmas. And yet, if something goes wrong while we’re enjoying a well-earned escape more than one in five of us won’t be covered for the cost of a personal, medical, criminal or other emergency – from cancelled flights to the trip over a curb that lands us in hospital. Those of us who embrace the staycation are even less likely to take out cover. But why spend money on something you hope never happens? Here’s why. Download the new Indpendent Premium app Sharing the
Brittany Ferries has bought Channel Islands-based Condor Ferries after forming a consortium with a major investment fund. The Plymouth-based, French-owned, freight and passenger company, which runs services between the Devon city and the Continent, linked up with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF) to snaffle the smaller Condor Ferries for an undisclosed sum. The consortium has reached an agreement to acquire 100% of Condor Ferries from Australian company Macquarie Infrastructure and Real Assets (MIRA). Macquarie bought Condor Ferries in 2008 for an undisclosed sum, thought to be about £260million. Contracts have been signed and the deal is expected
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Image copyright PA The head of Britain’s biggest pawnbroker has said regulation on cash loans risks pushing some people to loan sharks ahead of Christmas. It comes after H&T revealed that the City watchdog was reviewing the short term cash loans it offered and could ask it to pay compensation. Boss John Nichols said the firm would work with regulators but that its cash-strapped customers would be affected. It has stopped offering short term cash loans while the review is carried out. Mr Nichols said he hoped these cash loans, which are separate to pawnbroking and typically amounted to about
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Election and Brexit weigh on UK housing market but cheaper prices tempt buyers There were 14.9% fewer new sellers than in the same period last year, deterred by lacklustre price growth and political uncertainty Stephen Little Mon, 11/18/2019 – 11:09 Image The number of homes being put up for sale is falling at its fastest rate in 10 years as Brexit and the upcoming election weigh on the market, according to property website Rightmove. Rightmove says the price of property coming to market fell by 1.3%, or £3,904, this month. On an annual basis prices were up 0.3%, taking the average
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Derby’s Bombardier has finally unveiled the new train it is building for South Western Railway as part of a deal worth almost £900 million. The firm has launched the Class 701 Aventra, a train designed, developed and now built at its Litchurch Lane factory. South Western Railway placed the £895 million order with Bombardier two years ago. The deal will see the manufacturer deliver a total of 750 carriages, which will make up 90 trains. Sixty of the trains will have 10 carriages, while 30 will have five carriages. The first trains are due to enter service by the middle
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Image copyright Tomohiro Ohsumi Japan’s biggest search engine and messaging app are set to merge under a deal agreed by their parent companies. Yahoo Japan is the country’s biggest search engine, and has e-commerce and online banking subsidiaries. Line is the country’s dominant messaging app, and is also popular in Southeast Asia and Taiwan. Analysts say the merger will help the companies compete with Japan’s other online giants. Yahoo Japan has long offered a diverse range of services but has lagged behind many of its competitors, said Seijiro Takeshita, from the University of Shizuoka. “This will be a very big
A big annual event is just around the corner. One that involves a lot of extra spending for a large chunk of the population. No, not Christmas – the annual January train price hike. The price of train tickets is linked, bizarrely, to July’s Retail Prices Index measure of inflation, meaning train costs are just a few weeks away from rising by 2.8 per cent. The cost of some season tickets is set to rise by more than £100, with some routes costing well over £4,000 a year. Before then, of course, there is another big travel event that might cost
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A developer has finished work on the latest phase of a new business park which will offer around a million square feet of space once completed. St Modwen has unveiled a new 104,000 sq ft unit at the development known as St Modwen Park Burton, off the A38, to the south of the town. The unit, which has been speculatively built, represents the third phase of the scheme. St Modwen Park Burton is already home to a number of established occupiers, including Hellman Worldwide Logistics, Keylite Roof Windows, Supply Technologies and London City Bond. The new unit includes 10 dock
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Image copyright APple Jamie Heinemeier Hansson had a better credit score than her husband, tech entrepreneur David. They have equal shares in their property and file joint tax returns. Yet David was given permission to borrow 20 times the amount on his Apple Card than his wife was granted. The situation was far from unique. Even Apple’s co-founder Steve Wozniak tweeted that the same thing happened to him and his wife despite having no separate bank accounts or separate assets. The case has caused a stink in the US. Regulators are investigating. Politicians have criticised Goldman Sachs, which runs the
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