While profits at the power company itself fell by a third last year, its owner Centrica made almost £2bn. The figure infuriated campaigners, who believe customers are being squeezed for the benefit of shareholders.
British Gas's profits suffered as wholesale gas prices rose sharply last year. But since the summer, there has been […]
It transpires this was converted into an annuity in December 2005, and is worth £20.52 a year.
The Prudential paid me a lump sum of £53.01, covering payments owing from the end of 2005 to last June.
But it now says I must receive future payments at the rate of £1.71 a month, before tax. I would […]
It amounts to a massive admission of failure during the boom years leading up to the credit crunch when previous chief executive Sir Fred Goodwin led the bank to the brink of disaster.
But new boss Stephen Hester warned: ‘There is no alternative.’ >>Chris Blackhurst gives his verdict on Sir Fred Goodwin’s pension
A key […]
Mortgage lender Nationwide said average house prices fell 1.8% in February from £150,501 to £147,746.
It was a steeper decline than the 1.3% seen in January and left house prices down a record 17.6% - or almost £32,000 - on a year ago.
However, experts said interest among potential buyers is rising […]
Lord Turner, the chairman of the Financial Services Authority, said he was looking at outlawing home loans worth close to 100% of a property’s value.
Even deposits of ten or even 15% of a property’s value may not be enough to secure a mortgage, he told the Treasury Select Committee.
If the FSA pushes ahead with […]
Payouts on plans maturing now are up to a fifth less than a year ago, wiping thousands of pounds off the value of a typical policy.
This is despite promises made by the massive with-profits funds which look after their money that they would not suffer from dramatic movements in the stock market.
So far this […]
The Chancellor appealed to them to stop haggling and sign up to the latest £500bn bail-out plan, which is the subject of debate over how much of the costs should be borne by the taxpayer.
Ministers are anxious for a deal to be sealed ahead of tomorrow’s expected confirmation of appalling 2008 trading results from […]
Some suggest a limited liability partnership while others say becoming a limited company would be better.
Can you explain the essential differences between the two? H.H., Norwich
Simon Littlejohns, Tax Partner at PKF accountants & business advisers, replies: A Limited Liability Partnership (LLP), available since 6 April 2001, is in many ways a […]
Many banks and building societies have fiddled with their overdraft rates, but none has actually reduced them despite Base Rate falling to a historic low of 1%.
In fact, Nationwide customers who use their overdraft facility are being charged more.
They will now pay a flat rate of 17.9% for an overdraft regardless of whether it […]
Prices on ‘regulated fares’ - which include season tickets and off-peak return trips - are linked to the inflation rate, which is widely predicted to be negative over the coming months. If there is deflation at a rate of more than 1% in July, as many economists forecast, the formula will trigger automatic […]
© 2008 Daily Financial News