PERSONAL FINANCE NEWS

 
Philip Salter
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INVESTORS TAKE A MEGA BITE OF APPLE
Clients of Barclays Stockbrokers have named Apple their favourite technology stock. 57 per cent favoured Apple over other technology stocks, 11 per cent Google, while 10 per cent said they would be interested in investing in Facebook and Twitter if and when they float. Cisco Systems, the US computer networking company, came fourth with 8 per cent. 63 per cent of respondents said technology stocks are on their investment radar. However, only 18 per cent currently owned some.

MILLIONAIRES – THE PIPS ARE SQUEAKING
According to a survey carried out by the investment website Skandia, more than half of the UK’s millionaires are relocating, or thinking of relocating abroad. Seamus Murphy, senior tax manager at taxback.com says: “These results come hard on the heels of a recent report compiled for HMRC indicating that 1 in 4 large businesses are also considering leaving the UK. And realistically, it is probably no surprise that those with means are looking for the exit.” He adds: “The coalition needs to consider giving a firm date for the reduction in the 50 per cent rate.”

DON’T BANK ON PEOPLE SAVING
Moneysupermaket.com has some bleak statistics on the UK’s savings rate. It has found out that the average age of first time savers in the UK is 25, that 40 per cent of consumers are not currently saving and a quarter don’t expect they will ever start saving again. Of the 40 per cent currently not saving, 40 per cent have never saved at all. For those who have never saved at all, the average will only start doing so at 38 – thirteen years behind the national average of those who already saved or have done so in the past.

SAVERS SHOULD DIRECT THEIR EFFORTS
Research carried out by Opinion Matters for First Direct has found that 47.7 per cent of savers hold only one savings account and less than half know exactly how much they have saved. Also, 36.9 per cent of savers don’t know what interest rate they’re being paid, while 34 per cent rarely or never check their balance. Bruno Genovese of First Direct comments: “In the current environment it’s worrying to see what little attention people are paying to their savings. It’s important for people to review their savings regularly.”