Which bank has the best savings account interest rate

T he pound is facing an “existential crisis” and is likely to weaken further during this year, one of Wall Street’s top banks has warned. Bank of America says sterling “finds itself in an increasingly invidious position” for reasons including “increasingly challenging” Bank of England communication. Kamal Sharma, a London-based foreign exchange strategist for the lender, said the outlook for the pound was “grim”. The warnings came as the price of oil breached $120 (£95) a barrel on Monday, hitting a two-month high amid tightness in the market and concern over supplies. Oil prices have risen amid tight supply driven by the fallout from Russia’s war in Ukraine, as well as increased demand as more economies return from Covid-related restrictions. China announced easing of its restrictions, while the European Union worked on a plan to ban imports of Russian crude. The pound has fallen about 6.6pc this year in dollar terms, leaving it as one of the worst performers among the … [Read more...] about Pound faces ‘existential crisis’, Bank of America warns

LOVE Island star Paige Thorne's family have asked for someone to "save my gal from this hell" after Jacques O'Neill's heartrate soared for ex Gemma Owen. While the paramedic is in the ITV2 villa, her nearest and dearest have taken over her social media accounts to interact with fans. Last night, Paige, 24 , opted to stick with Jacques, 23 , in the re-coupling despite their nasty war of words on Tuesday night. The latest episode of Love Island saw the rugby star offer up a grovelling apology for his behaviour after the heart-rate challenge. A satisfied Paige then went on to couple up with Jacques, but her friends and family have revealed they are NOT impressed. They responded to fans on Twitter campaigning against the pairing, as they begged producers to "save her" from "hell". READ MORE ON LOVE ISLAND ALL BEDS ARE OFF Love Island fans convinced one couple had sex last night- did you spot it? 'payback' Love … [Read more...] about Love Island star Paige’s family and friends beg ‘save my gal from this hell’

Interest rates are still rising. A sharp recession is looming. Supply chains are still chaotic, the war in Ukraine is dragging on and on, and inflation shows no sign of coming under control. It is hardly surprising that stocks are getting hammered . With the sole exception of the FTSE, which has done so badly over the last 20 years it could hardly do any worse, the first half of the 2022 has been one of the most brutal for investors on record – and in the case of the Nasdaq, actually the worst half year ever. From here on, things can only get better. In fact the historical record shows that terrible first halves to the year are typically followed by a strong bounce back in the six months that follow. If inflation starts to ease , if employment stays robust even as real wages fall, and if the war comes to a quicker than expected end, that should be the story of 2022 as well. It is unlikely to be a great year but a lot of the losses of the last six months could be quickly … [Read more...] about There’s still money to be made in the stock market – here’s why

We can only hope that, one day soon, Andrew Bailey will wake up and realise he is the Governor of the Bank of England . Yet based on his most recent remarks at the European Central Bank conference in Portugal this week, it’s still not clear Bailey is aware of the critical role he plays in shaping UK monetary policy. “The key thing for us is to bring inflation back down to target,” he announced to a room full of bankers. Yes, this is quite the “key”. In fact we’ve been desperate for the Bank to tackle inflation for many months now, so it’s refreshing to know this is an acknowledged priority. “That is what we will do,” Bailey pronounced in his follow up. Again, good news. How? When? Is there any plan of action, apart from the Bank’s governor talking about the UK economy as if the role he plays is a minor one, at best? If there’s any generous reading to be done of Bailey’s remarks, it was the not-so-subtle indication that the Bank is considering a 50 basis points jump in … [Read more...] about Britain is becoming Europe’s sick man again and needs stronger medicine now

It’s clear by now that the Bank of England drastically missed the boat on inflation and failed to head off the soaring prices we’ve seen this year. But the picture is now getting murkier. Economic activity is slowing. House prices have stopped rising. The FTSE 250 is down by 22 per cent so far this year. All of this has policymakers speculating that, as far as inflation is concerned, the worst is over and we now need to worry instead about recession. The Bank of England is still holding fast to its belief that double-digit inflation is a temporary phenomenon and is raising rates cautiously, with an eye on slowing growth. Government ministers are taking this as carte blanche to argue that inflation will go away soon – and even seem to think that this argument will sway trade unions intent on securing huge pay rises. There is a conspicuous silence where there should be a debate about what to do if the Bank is wrong again. The most obvious risk is that inflation is already … [Read more...] about Britain is in a far more terrible state than anyone is prepared to contemplate

Martin Lewis Extreme Savers: Woman opts for reusable toilet roll Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Financial educator Charlotte Jessop, from Norwich, says it’s a “tough time”, with soaring inflation and rising house prices. But the former Maths teacher has a host of tips for Britons on how to reduce their bills, calling on her own experience of living frugally. Related articles How to check if you get a £330 cash boost next month Tesco Clubcard warning as your vouchers may soon expire She managed to slash her weekly groceries bill for her family of four, from £125 to less than £80 per week. Top tips to achieve this include … [Read more...] about Mum shares easy money tips after slashing weekly food shop by £45

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July 04, 2022 - 10:26 BST Astrologer to the stars, Debbie Frank, reveals your weekly horoscope for 4 to 10 July 2022. Discover what’s in store for your zodiac sign this week. Astrologer to the stars Debbie Frank has shared her weekly horoscopes with HELLO! Online readers. Find out what the stars have in store for you below... ARIES Having Mars with you for the past 6 weeks has been both an activation and an irritation. Now this red hot planet moves through to your next door sign of Taurus you can concentrate on stabilizing those aspects of your existence that need to get grounded. Let the adrenaline cool and you'll breathe a sigh of relief. TAURUS Mars will be in your building from Tuesday up until August 20th and for many Taureans this will be felt as a red rag to a bull. However, sometimes it's not such a bad thing to experience being inflamed with your desires and wants as you'll pursue what's really important … [Read more...] about Weekly horoscope for 4 to 10 July 2022

T he American owners of Boots may revive plans for stock market float next year after scrapping the sale of Britain’s biggest chemist to a Wall Street buyout fund and Indian billionaire Mukesh Ambani. Walgreens, which merged with Boots in 2014 in a deal worth £9bn, said none of the offers for the “adequately reflects the high potential value of Boots and No7 Beauty Company”. The Illinois-headquartered company said bidders had struggled to arrange bank loans to buy Boots after financial markets “suffered unexpected and dramatic change”. Private equity fund Apollo and Mr Ambani had been in pole position to acquire Boots after Walgreens chairman Stefano Pessina put the business up for sale in January. But a £5bn approach — considerably lower than the £7bn Mr Pessina is said to have wanted — fell through. Ornella Barra, Boots operating chief, wrote to the company’s 56,000 staff saying she was “happy to confirm that it has been decided that Boots and No7 Beauty Company will … [Read more...] about Boots stock market float back on the table as £5bn sale collapses

Inflation is delivering a serious blow to real incomes and living standards. But is everyone suffering in this process? Or are there some winners who are benefiting at the expense of the losers? Inflation, pure and simple, is a process through which all money values that are free to move rise in lockstep. An inflation of this sort can have practically no real effects, beneficial or harmful. But the trouble is that inflation of this sort exists only in the textbooks. In particular, not all prices are free to rise. The consequence is often a substantial shift in relative prices and incomes. And the battle to preserve positions often leads to wrangling and disputes that waste resources and reduce production, thereby making the economic situation worse. This is exactly what is happening now with the current wave of industrial disputes. Moreover, the current bout of inflation originates partly from the sharp increases in external costs, principally energy . These increases reduce … [Read more...] about Public sector pensioners will be the winners from this inflation disaster