PERSONAL FINANCE NEWS June 24, 2010 PAY BY CARD TO GAIN REWARDS Savvy shoppers could earn substantial rewards by whacking all their day-to-day spending on the plastic. Based on an average household spend of £386.30 per week on a reward credit card, and by paying off the balance in full each month, Confused.com research shows after just one year, some of [...]
Paternoster brings in ex-UBS banker June 24, 2010 PENSIONS insurer Paternoster has appointed former UBS banker Julie Chakraverty as non-executive director as it begins a review of its business. Chakraverty, 38, will give advice to Paternoster’s board on all aspects of governance. An experienced investment banker, she worked for JPMorgan and UBS in the 1990s, sitting on UBS’ board until May 2008. She [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
IPT hike branded a tax on the prudent June 22, 2010 THE higher rate of insurance premium tax (IPT) — which applies to travel insurance and extended warranties — is set to rise to 20 per cent from 17.5 per cent. In addition to this, the standard rate — which applies to most general insurance — will rise to six per cent from five per cent. [...]
Anglo Irish is closing in on deal for Quinn June 21, 2010 ANGLO Irish Bank has ramped up its efforts to buy beleaguered insurance group Quinn, by proposing to inject capital and buy out bondholders. Anglo Irish, which was nationalised in January 2009, hopes to win approval from the Irish Financial Regulator with its proposals, following concerns over a publicly-owned bank owning an insurance company. Under the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2010 FINANCIAL TIMES BACKLASH OVER INDIAN FLOAT RULES India is facing a growing private sector backlash against a rule change that will lead to a flood of more than $50bn of new shares being listed over three years. There are concerns that the move could damage the country’s stock market and hamper economic growth. The Finance [...]
Pru board’s perks revealed in their employment contracts June 7, 2010 PRUDENTIAL chairman Harvey McGrath may have soaked up most of the pressure at yesterday’s annual general meeting, but at least he didn’t have to think about driving home. The former head of Man Group is entitled to a chauffeur-driven car as one of his perks at the helm of Prudential’s board, according to contracts seen [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 27, 2010 FINANCIAL TIMES COMMODITIES SURGE AFTER WARNING ON HURRICANE SEASON Oil and natural gas prices surged on Thursday as the US government said this year’s hurricane season could rank among the most active to date, comparable to years that brought such devastating storms as 2005’s Katrina and Rita. The outlook raises the possibility of damage to [...]
Q&A: PAYE May 20, 2010 Q. I have recently started my business and I am in the process of hiring staff, what should I know about PAYE? A. Pay As You Earn (PAYE) is the way that HMRC collects income tax and national insurance. As an employer once you start hiring people you have a legal obligation to collect PAYE [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES GOOGLE DEBATES OVER FACE RECOGNITION TECHNOLOGY Google executives are wrestling over whether to launch controversial facial recognition technology after a barrage of criticism over its privacy policies. Eric Schmidt, chief executive, said a series of public disputes over privacy issues had caused the management team to review its procedures and the launch of [...]