Banking
moneysupermarket.com: Skipton and Scarborough merger
Commenting on the forthcoming merger between the Skipton and Scarborough building societies, Kevin Mountford, head of banking at moneysupermarket.com, said: "Whilst this is being presented as a merger between the Skipton and the Scarborough, it is clear that it is really a bail out of the latter.
Consumers should be heard, says Which?
As the Government announces the formation of the UK Financial Investments Limited, to look after taxpayers' interest in Government-backed banks, Which? Head of Campaigns, Louise Hanson says: "Consumers have been knocked left, right and centre by higher mortgage costs, more expensive banking and worries about the security of their savings.
New company to manage Government's shareholding in banks
Arrangements for managing the Government's shareholding in banks subscribing to its recapitalisation fund have been announced by Chancellor of the Exchequer, Alistair Darling.
Merger of Skipton and Scarborough Building Societies
The boards of Skipton Building Society and Scarborough Building Society have announced that they have agreed heads of terms for a merger. It is anticipated that the merger will be completed in the first quarter of next year.
Scottish Widows launches new business savings accounts
Scottish Widows Bank has launched a new Business Funds Deposit Account. From 3 November a bonus of 0.50% will be available on the new Business Funds Deposit Account for 6 months, giving an initial rate of 5.00% gross / 4.75% AER (variable). Thereafter, the standard rate will be 4.50% gross / AER (variable).
M&S offers foreign currency refund for Sterling Airways customers
M&S Money is offering to refund in full foreign currency purchased from M&S by customers who had booked flights with Sterling Airways and are now unable to travel.
Travel boom ‘Down Under'
After weeks of financial turbulence, Australia has emerged as a surprise beneficiary of sterling's slump against the US dollar, according to Post Office Travel Services.
CIFAS celebrates 20 years of fraud prevention
CIFAS - The UK's Fraud Prevention Service - has been preventing fraud for 20 years. Established in November 1988, CIFAS was formed by five retail credit providers.
Prevention rather than cure over Lloyds/HBOS competition fears
As Business Secretary Lord Mandelson clears the merger of Lloyds TSB and HBOS, Which? chief executive, Peter Vicary-Smith, says: "The normal competition regime isn't sufficient to deal with the super-bank that's being created, otherwise the OFT would not have asked for the merger to be referred to the Competition Commission.
Banks' commitment to small businesses underpinned
Moves to strengthen the banks' commitment to their small business customers were outlined by the British Bankers' Association (BBA) today.
Abbey International holds regular saver rates
Following the recent 0.5% cut in the sterling, euro and US dollar Base Rates, Abbey International, the specialist offshore banking subsidiary of Abbey in the UK has reduced the interest rates payable on its range of sterling and currency denominated savings accounts, but it has not reduced rates on its new Monthly Offshore Saver account
FOMC cut boosts equity markets and puts dollar under pressure
Following the decision by the FOMC to cut rates by 50 basis points to 1.00%, Marc Cogliatti, Currency Strategist at HiFX comments: "The decision to cut has helped equity markets continue their rally seen over the past couple of sessions signalling some risk appetite retuning to the market.
Lloyds TSB launches microsite ahead of proposed HBOS acquisition
Lloyds TSB has announced the launch of its new microsite for customers - lloydstsb.com/hbosacquisition - giving them up-to-date information on the proposed acquisition of HBOS.
Parents worried children will get into debt
Parents and teachers are worried about the level of financial awareness children have, according to research from Nationwide.
Nationwide launches 3 year partnership with Citizens Advice
Nationwide Building Society has announced a three year partnership with the national charity Citizens Advice. The Society's £3 million investment will fund the recruitment and training of 1,300 volunteers over the next three years who will provide financial education training and advice on money matters across the UK.