Author Ben Leonard It’s been revealed that around three million members who are saving with final salary pension schemes could miss out on around a fifth of their future income because their employers have made unaffordable promises. Extreme pressure to meet pension schemes obligations Many employers have offered their staff a “final salary” pension scheme [...]
Author Ben Leonard One of the top credit ratings agency, Moody’s, has downgraded the UK’s credit rating in the wake of Brexit fears. Back in July, Moody’s announced that they were considering reducing the UK’s credit rating score, and it now looks like they have followed through with their suggestions. A rating downgrade can affect [...]
Author Ben Leonard After an 8 month low, the Pound has finally broken the $1.30 barrier after the UK retail sales figures were announced. Retail sales boost pound It was announced by the Office of National Statistics (ONS) that the retail sales volumes in the UK had actually risen 2.3% for the month of April, [...]
Author Ben Leonard Ryanair has admitted that they are cancelling between 40-50 flights a day for the next six weeks so that they can improve “system-wide punctuality”. Clearing a backlog Ryanair said that they were cancelling the flights in order to hit their annual 90 percent punctuality target for 2017. Marketing officer Kenny Jacobs said [...]
Author Ben Leonard With less than 10 months to go until the General Data Protection Regulation (GDPR) is launched, many businesses are facing an impossible race to get themselves ready for the launch of the new EU directive. What is the GDPR? The GDPR, or the General Data Protection Regulation, is an EU directive that [...]
Author Ben Leonard Hundreds of small businesses who were affected by a freeze on their business accounts could see their appeals to the Financial Ombudsman rejected. Crackdown The Financial Ombudsman Service was called to step in after HSBC incorrectly blocked hundreds of accounts of small businesses, including those of charities and churches. The move came [...]
Author Ben Leonard Rise in interest rates The interest rates on student loans have risen quite dramatically over the past few years. The latest rise sees the interest rate on student loans rise from 4.6 to 6.1%. To compare, the Bank of England base rate of interest has been held at just 0.25% last month. [...]
Author Ben Leonard The BBC has revealed that some gang members are targeting royal mail postal workers, offering them up to £1,000 each to help steal bank cards. The revelations came in a BBC documentary primarily shown in the Midlands but now has received major national coverage. “Bring them back to us and get paid” [...]
Author Ben Leonard Doorstep lender Provident Financial (PFG) lost almost two-thirds of their market value in a single day on the 22nd of August, in one of the worst share price drops in FTSE history. The doorstep lender was said to have been hit by a “quadruple whammy” last Tuesday, as they lost their chief [...]
Author Ben Leonard Move over Bitcoin, there’s a new crypto currency on the rise. Ethereum is the new currency that you’ve never heard of but is taking off. Bitcoin has been making the news a lot lately, least of all for its impressive growth in value - well above all other currencies. Ethereum is similar [...]