Reuters: Personal Finance News

EU looks to bolster protection for holidaymakers

Thu, 26 Nov 2009 14:25:29 GMT

BRUSSELS (Reuters) - The European Union is looking to tighten regulations on websites selling travel packages, a move to protect consumers better when tour operators fail.

House prices set to rise gradually

Thu, 26 Nov 2009 12:26:48 GMT

LONDON (Reuters) - House prices have probably bottomed but will only creep higher over the next couple of years as more properties come on the market and the economy makes a plodding return to growth, a Reuters poll showed.

Bank review recommends greater pay disclosure

Thu, 26 Nov 2009 11:01:58 GMT

LONDON (Reuters) - Banks must disclose how much they pay top employees, a government sponsored report recommended on Thursday in a bid to quell public anger over "bonuses as usual" in a sector shored up by taxpayer bailouts.

Water bills to fall much less than expected

Thu, 26 Nov 2009 10:14:10 GMT

LONDON (Reuters) - Water bills will barely fall during the next five years, disappointing recession-hit consumers and reassuring water companies who had feared the regulator would force them to make big cuts.

Court rules in favour of banks on charges

Thu, 26 Nov 2009 09:16:48 GMT

LONDON (Reuters) - Banks won a two-year court battle over overdraft charges on Wednesday, dealing a blow to hundreds of thousands of customers seeking to claim back billions of pounds which they say were levied unfairly.

Government proposes tougher mortgage regulation

Wed, 25 Nov 2009 11:46:01 GMT

LONDON (Reuters) - The government unveiled plans on Wednesday for tougher regulation of the huge home loans market as fallout from the credit crunch highlights concerns about lax lending standards and fraud.

Court rules in favour of banks on charges

Wed, 25 Nov 2009 11:16:10 GMT

LONDON (Reuters) - The Supreme Court has ruled that charges imposed by banks on unauthorised overdrafts formed part of their fees for services, dealing a blow to borrowers seeking to claim back from retail banks the billions of pounds of charges which they say were levied unfairly.

Banks' emergency loans revealed

Tue, 24 Nov 2009 13:51:14 GMT

LONDON (Reuters) - The Bank of England disclosed on Tuesday that it provided almost 62 billion pounds in emergency loans to Royal Bank of Scotland and HBOS at the height of the credit crisis last year.

Record pension hole for world's biggest firms

Tue, 24 Nov 2009 12:49:33 GMT

LONDON (Reuters) - The financial crisis saddled the world's 100 largest companies with a record 220 billion euro (199 billion pounds) pension shortfall at end-September, up from 20 billion at the end of 2007, a study released on Monday said.

Mortgage approvals almost double

Tue, 24 Nov 2009 10:01:15 GMT

LONDON (Reuters) - The number of home purchase loans approved by banks in October was almost double that of a year ago, a survey showed on Tuesday.

Speedier stimulus may mean quicker exit

Tue, 24 Nov 2009 07:46:33 GMT

LONDON (Reuters) - The Bank of England has raced far ahead of its peers along the quantitative easing road, but it could overtake other central banks in the reverse direction when the time comes to tighten.

Tesco bank to focus on its most loyal shoppers

Fri, 20 Nov 2009 12:13:07 GMT

LONDON (Reuters) - Tesco, Britain's biggest retailer, will initially focus on its most loyal shoppers as it seeks to build its new banking business, it said on Friday.

Nationwide sees risk of house price fall in 2010

Fri, 20 Nov 2009 10:43:35 GMT

LONDON (Reuters) - House prices could retreat in 2010 if unemployment rises sharply, Britain's third-largest mortgage lender Nationwide warned on Friday.

Santander to launch 'free' bank account

Thu, 19 Nov 2009 10:24:28 GMT

LONDON (Reuters) - Spain's Santander, the banking group which owns Abbey, Alliance & Leicester and Bradford & Bingley, will next year launch a no-fees current account, with no charges for overdraft use or access to foreign ATMs.

Mortgage lending down 27 percent year-on-year

Thu, 19 Nov 2009 10:00:37 GMT

LONDON (Reuters) - Gross mortgage lending fell 27 percent year-on-year to 13.5 billion pounds in October, the Council of Mortgage Lenders said on Thursday.

Lending to businesses contracts again

Thu, 19 Nov 2009 09:43:49 GMT

LONDON (Reuters) - The flow of lending to businesses contracted for an eighth consecutive month in September as firms continued to use funds raised on capital markets to pay down bank debt, the Bank of England said on Thursday.

Financial reform faces carve-up threat

Thu, 19 Nov 2009 08:38:26 GMT

LONDON (Reuters) - The Conservative Party said it would ditch the core of a financial sector reform bill if it wins power next year, but lawyers expect other parts such as curbs on bankers' pay would be introduced.

T-Mobile admits employee sold private data

Wed, 18 Nov 2009 08:44:18 GMT

LONDON (Reuters) - A employee of T-Mobile is facing prosecution after selling personal details of thousands of customers to rival companies in an alleged major breach of data protection laws.

Inflation jumps and set to rise further

Tue, 17 Nov 2009 12:43:18 GMT

LONDON (Reuters) - Inflation accelerated in October, and will probably keep climbing in the coming months as rising oil costs, the weak pound and the reversal of a temporary cut in VAT keep up the pressure on prices.

Christmas sales to see first fall since 1980s

Tue, 17 Nov 2009 12:40:07 GMT

LONDON (Reuters) - Retail expenditure this Christmas will fall for the first time since the late 1980s, as non-food sales decline by 2.5 percent or 1.3 billion pounds, according to a survey published on Tuesday.

Stockbroker fined 24,000 pounds over market abuse

Tue, 17 Nov 2009 12:08:00 GMT

LONDON (Reuters) - The Financial Services Authority fined a stockbroker 24,000 pounds for using inside information on a listed company to encourage clients to buy shares in the hope of boosting his bonus package.

Rail fares to rise average 1.1 percent in January

Mon, 16 Nov 2009 14:07:05 GMT

LONDON (Reuters) - Rail fares will rise by an average of 1.1 percent in January, below the rate of inflation and the lowest increase since privatisation, the train operating body said on Monday.

Companies underestimate pension obligations

Mon, 16 Nov 2009 13:20:16 GMT

LONDON (Reuters) - Top European firms are underestimating their pension obligations by 300 billion euros (270 billion pounds), led by Royal Bank of Scotland and Lloyds Banking Group, according to a study.

Debenhams sees Christmas price war

Mon, 16 Nov 2009 11:26:53 GMT

LONDON (Reuters) - Department store group Debenhams announced a four-day sale starting on November 18 in a move which it predicts could spark a price war reminiscent of the frenzied discounting in the run-up to last Christmas.

Government to make it easier to sue banks

Mon, 16 Nov 2009 11:14:32 GMT

LONDON (Reuters) - The government will this week outline legislation allowing consumers to group together to claim damages from financial institutions that mislead customers over financial products, a government source said on Monday.