November 2007 Archive

A&L and B&B confident despite crunch

Leeds launches unlimited access postal bond

Abbey issues 3 new bonds

Abbey is launching a new fixed rate bond, an over 50s bond and a children's savings bond.

NS&I cuts savings rates

National Savings and Investments (NS&I) is cutting interest rates on its fixed-rate savings by up to 0.65 per cent from November 28th 2007.

Northern Rock shareholders to block Virgin bid

One of Northern Rock's largest shareholders is looking to block Virgin's bid for the troubled the company.

New cheque clearing process unveiled

From November 30th the UK will have a new cheque clearing process with the standard five days' clearance time extended to six days.

Virgin named 'preferred bidder' for Northern Rock

Sir Richard Branson's Virgin Group is to be named as the preferred bidder for the troubled lender Northern Rock - with plans to inject £1.3 billion into the firm.

Nationwide becomes 'safe haven' for Rock savers

Nationwide saw £1.8 billion in savings deposited in September - as Northern Rock savers looked for a safe haven for their cash.

Northern Rock share prices fall again

Northern Rock saw its share price fall for a second day today as concerns mounted a buyer will not be found.

Identity theft: How to protect yourself

The loss 25 million individuals' personal data by HM Revenues & Customers has highlighted the importance of protecting yourself against identity fraud.

Taxman data loss: Parents' identity fraud risk

British parents are being urged to keep an eye on their bank and building society statements after it was revealed the taxman lost a disc with the personal information of 15 million people.

Taxman loses 25m child benefit claimants' personal data

HM Revenue & Customs (HMRC) has lost discs with the personal details of 25 million parents who receive child benefit. Police are investigating the loss.

Building societies take in record £3bn savings

Higher interest rates helped the UK's building societies take in more than £3 billion of deposits in October, as Northern Rock savers looked for a new haven for their cash. But mortgage lending fell.

Darling: Northern Rock loan plans

Alliance & Leicester internet savings account at 6.5%

Alliance & Leicester has launched a new online savings account paying 6.5 per cent AER (6.31 per cent gross).

Bradford & Bingley: New Postal savings account at 6.3%

Bradford & Bingley today launched a new postal savings account offering 6.30 per cent gross pa/AER.

Darling: Govt can veto Northern Rock deal

Chancellor Alistair Darling has told parliament the government will veto any deal to take over Northern Rock that does not meet the necessary standards.

122,000 Farepak customers 'driven into cycle of debt'

Many of Farepak's 122,000 customers left stranded last year have been driven into debt, according to a new study.

Northern Rock decision day

Today is the deadline for bidders for the troubled lender Northern Rock with as many as eight deals could be on the table. Bids from Virgin and a series of private equity firms lead the race.

Coventry: Online Saver at 6.51%

Coventry Building Society is launching an online saver account at 6.51 per cent AER/gross pa.

Banks 'not letting customers understand charges'

British banks are not giving customers the chance to fully understand the changes they face for overdrafts, claims the OFT ahead of a test case in the High Court.

Female divorcees take double time to recover finances

Women take twice as long to recover financially after a divorce than men, according to a new study.

Brit teens' £29bn pocket money spree

British teenagers are taking in £29 billion a year in pocket money - with £12.12 given a week. However, teens are far from splurging cash - half of allowances are saved.

Sub-prime crisis: Barclays, HSBC losses

Barclays faced an £800 million loss in October due to the US sub-prime crisis, while HSBC has put aside £1.6 billion to cover losses.

Stroud & Swindon: New over 50s account