Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million (118 million pounds) in tax refunds tied to a Dutch tax shelter designed by the derivatives arm of American International Group. The ruling turns a spotlight on an aggressive tax-cutting strategy created last decade by AIG Financial [...]
The banking branch of the UK’s largest retailer has launched a new set of bonds with a 5% annual interest rate in twice-yearly instalments. The catch, however, is that these bonds will only be available to investors who are willing to lend it their money until 2020. These are the third ‘retail’ corporate bonds which [...]
Banking giant HSBC is set to announce 2,000 job cuts in the UK today as part of a brutal cost-saving drive. A day after the economy officially plunged back into recession, Britain’s most profitable bank will give staff another dose of grim news. It is understood that most of the cuts will occur in middle [...]
Rail fines and prosecutions handed out in spite of passengers buying a ticket are being questioned following consumer anger Rail passengers threatened with fines and even prosecution by train guards – despite buying a ticket – have called on the rail passenger watchdog to challenge their legality amid growing consumer anger. Guardian Money has been [...]
Campaign is on for savers to move to socially responsible cash Isas – and the rates are surprisingly competitive too You are looking to open a savings account, but would like your cash to be used in a socially or environmentally responsible way rather than financing arms dealing or other dodgy activities. Or perhaps you [...]
Customers are increasingly being refused a refund after their bank card was stolen or accounts hacked If a current account is hacked and fraudsters start making purchases and cash withdrawals using the card and pin – intercepted by the crooks – most customers would expect the bank to repay the losses without question. If a [...]
Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million (118 million pounds) in tax refunds tied to a Dutch tax shelter designed by the derivatives arm of American International Group. The ruling turns a spotlight on an aggressive tax-cutting strategy created last decade by AIG Financial [...]
Small firms are being crippled by the highest rates of interest for more than three years – and lending is still plunging, the Bank of England said yesterday. The Bank’s figures, described by one expert as horrific, highlight the nightmare facing small firms which urgently need money to survive or expand. Its authoritative report reveals [...]
There are several types of loans available. To name just a few: unsecured loans, secured loans, car loans and debt consolidation loans. A loan is a type of credit – and therefore it must be repaid. Repayments are usually made on a monthly basis, and will continue until the loan (plus any interest) [...]
More than half a million wealthy Britons are expected to move abroad in the next two years amid concerns about crumbling road and rail networks, crime and high taxes, a survey reveals today. Some 19% of people with savings and investments worth more than £250,000 are considering a new life overseas, which is up from [...]
Changes to child benefit payments for thousands of higher rate tax payers come in to effect in April 2013. Here’s how to keep your tax-free child benefit if you’re a higher rate taxpayer. If you are a higher rate taxpayer that currently receives child benefit payments you could lose thousands of pounds a year when [...]
A much-anticipated rise in the base rate is fuelling concern among British homeowners that negative equity may become a lasting problem, with mortgage rates rising amid ever-falling house prices. Understanding how any change to the base rate might affect homeowners in the UK requires an understanding of the base rate itself, which has remained [...]
There are several types of loans available. To name just a few: unsecured loans, secured loans, car loans and debt consolidation loans. A loan is a type of credit – and therefore it must be repaid. Repayments are usually made on a monthly basis, and will continue until the loan (plus any interest) [...]
Where can you turn for financial advice? The bloke in the pub? Your window cleaner? Your bank? You may think you’ll get more honest help from the first two these days, but for decent advice you need to go to a professional. The financial advice industry has been tarnished by a series of scandals, ranging [...]
Loans are issued by banks and other financial companies. They allow you to borrow a fixed amount of money, which you then pay back in instalments over an agreed period of time. This could be anything from 12 months to five years typically, although longer repayment periods are offered on some loans. You’ll pay back [...]
There are several types of loans available. To name just a few: unsecured loans, secured loans, car loans and debt consolidation loans. A loan is a type of credit – and therefore it must be repaid. Repayments are usually made on a monthly basis, and will continue until the loan (plus any interest) [...]
Economists, banks and even punters in bookmakers are studying more and more seriously scenarios involving the collapse of the eurozone. Maybe not its total evaporation, but certainly shrinkage with peripheral or weak countries falling off the currency’s map and in all cases, according to the experts, with a heavy price to pay. Analysts agree that [...]
CITIGROUP is to cut 4,500 jobs globally, with its London capital markets division shedding dozens of staff. Speaking in New York late on Tuesday, chief executive Vikram Pandit said that the bank has already made $1.4bn in savings this year but needs to respond to slow markets by reducing costs further. City A.M. understands that [...]
As the pound hits a high against the euro and currencies such as the florint and Turkish lira, is it time to buy your holiday money? Good news if you are going on a eurozone holiday: the pound is the strongest it has been against the euro since August 2010, which means you should get [...]
As high street betting shops and internet roulette claim ever more victims, Simon Murphy meets the gamers who have beaten the odds in a struggle with addiction Eugene Farrar combed his hair, put on his best suit and polished his shoes. He wanted to make sure he looked the part for the moment he chose [...]
The brutal squeeze on middle class family finances will last for longer than expected, the Bank of England warned yesterday. In a bitter blow to millions of households, deputy governor Paul Tucker said Britain will be stuck with high inflation for much of 2012. The stark warning from Mr Tucker – who is among the [...]
