Category: Business

Coventry Building Society has recently re-launched the online savings account making it the “top easy access rate” offered in the market at the moment, according to MoneySavingExpert.com. Coventry Building Society has warned that the account is a “limited issue” so they may stop accepting applications at any time. With the interest rate it is currently offering, someone depositing £1,000 into the account could earn an extra £28.50 worth of interest over the course of one year. Someone stashing away £10,000 into this account could expect to earn £285 in interest after 12 months. The interest is calculated daily and savers ... Read more

This has been a tough year for investors generally, but some funds have fared much worse than others. The riskiest have imploded. Global stock markets have crashed this year, with the once rampant US technology sector suffering a severe sell-off. Many of the stocks and funds operating in this sector became overhyped and overpriced after years of record-breaking returns. Elon Musk’s electric car maker Tesla is down 51.25 percent year-to-date, with Facebook (now renamed Meta Platforms) plunging 63.52 percent. Streaming service Netflix is desperately hoping to revive its fortunes with the upcoming documentary series about Prince Harry and Meghan Markle, ... Read more

NS&I has shared some details about the Premium Bonds holders who have become millionaires after their winning bond numbers were picked as this month’s jackpot prize winners. This month’s top prize winners come from Highlands and Islands and Wandsworth. Every Bond number, whether it has 8, 9, 10 or 11 digits, has a separate and equal chance of winning a prize, NS&I claims. There are three different ways to check to see if someone has won. This is via the prize checker on the NS&I website, the official prize checker app, or their Alexa-enabled device. To use the website, customers need their ... Read more

Mel Stride, the new work and pensions secretary, has suggested the state pension age could be raised as public finances struggle. The DWP secretary suggested the state pension age could increase, even though life expectancy rises have slowed – with a decision on the matter pending. Mr Stride told MPs: “There are various moving parts in assessing where we should go with the state pension age. “One of them is life expectancy and more precisely, what proportion of your life should we expect people to have in retirement, as opposed to not in retirement? “Another is cost, and if you ... Read more

Mr Lewis said: “During the period that you were missing years, you may not have got the National Insurance credits that you were entitled to, and you may be able to get them for free, which can substantially boost your state pension.” Before delving into the numbers, Mr Lewis noted: “I need to give you a really important red flag warning. I am giving you a call to arms about whether you should be checking if this is worth doing but I cannot, in this podcast, give you an absolute guarantee that in your specific circumstance it is worth doing.” ... Read more

The decision, however, has meant her state pension is frozen at £72 per week, and her life has been affected as a result. Mrs Puckridge, who served in all three branches of the Armed Forces, previously told Express.co.uk: “Although we are fully paid up, we are discriminated against.” The sentiment appeared to be shared by the Canadian MP who has urged fresh action to tackle the ongoing issue. He added: “Simply put, people who have worked all their lives in the United Kingdom and paid into the UK system deserve to be treated fairly. The UK Government needs to get ... Read more

Almost three million people claim Personal Independence Payment (PIP) due to a health condition or disability that affects their everyday lives. The cost of living crisis is having a detrimental effect on disabled people – energy bills can be up to £600 higher every month for people with disabilities, according to campaigners. However, there is Government help available to people on PIP which could save them up to £30,000. PIP is paid to people with a disability or health condition who haven’t yet reached state pension age and need help with everyday tasks. How much someone receives depends on how much their ... Read more

This week, Qatar Islamic Bank QIB (UK) – Raisin UK raised the interest on their 18 Month Fixed Term Deposit. Savers can now benefit from an “excellent rate” on up £85,000 of their cash. Challenger banks are giving high street banks a run for their money by offering competitive interest rates on savings. QIB’s (UK) 18 Month deal now pays 4.45 percent and may well attract savers as it remains “competitive”. This savings account was rated as a top pick by Moneyfacts experts who say it is an “excellent” choice. Commenting on the deal, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said: ... Read more

Now the UK’s largest direct-to-consumer wine seller, the family-run business was begun by Tony Laithwaite 53 years ago after he saw the opportunity to buy bottles of Bordeaux direct from makers. Using a loan from his nan to get going, he transported the stock back home himself.  Last year the company, whose formal name is Direct Wines, toasted a £450 million turnover and delivered 7,500 different products to domestic customers sourced from 450 producers. As well as retail operations in the UK and Australia, it also imports wine into the US. Although now an industry grand cru employing 700 in ... Read more

Chancellor Jeremy Hunt extended the freeze on the UK income tax allowance threshold meaning it now will remain in place until 2027/28. The Government appears to have made this decision to balance the books and recoup £55billion amid the cost of living crisis. Families and high earners face eye-watering tax rates leaving some with just a few pounds from a £1,000 pay increase, new analysis from AJ Bell shows. The complicated mesh of thresholds and allowances means some workers getting a £1,000 pay rise will lose almost all of it through tapered benefits or cliff-edge allowances, while those who have ... Read more