Here is this week's compilation of those tweets worth reading from the best financial tweeters out there, including me of course.
Twitter helps give you an inside fast track into the world of personal finance and the latest developments. I read and interact with hundreds of people via twitter everyday and only bring you those that are worth listening to. (If you want to join my watch list then simply follow me on twitter @money2themasses)
All the following tweets are the respective tweeters personal views and not those of their employers.
EUROZONE CRISIS
@simonjacktoday – Simon Jack - presents business and economic news on Today programme on BBC Radio 4
today, looking at S&P's decision to place almost all Eurozone (incl France and Germany) on negative creditwatch - interesting timing..
@TheParaplanner - Richard Allum - Parapalnner
It's Monday so it must be the start of another "5 days to save the Euro". This is getting to feel like a DFS sale.
@money2themasses – ME!
Eurozone crisis is like an unfinished jigsaw, you keep going back to it but in the end you either do it properly or break it up
@ReutersJamie - Jamie McGeever -- Editor at Reuters Insider TV
so given german official comments and flagging efs, it looks like the imf, esm + efsf all lacking bazooka characteristics
@AllisterHeath - Allister Heath - Editor of City AM
Cameron says will veto treaty without safeguards.He can't: Merkozy said they will proceed with just 17 euro states if opposition from others
@tonylevene1 - financial/consumer journalist specialising in scams
Economists wanting breakup of eurozone have no idea how to do it. But then the poor dears are economists, not useful folk
INTEREST RATES
@EdConwaySky - Ed Conway -Economics Editor of Sky News
ECB cuts main interest rate from 1.25% to 1% - equals its all-time low. The Draghi effect kicking in
@money2themasses – ME!
No surprises - Bank of England holds UK interest rates at record low of 0.5% and leaves quantitative easing unchanged
UK ECONOMY
@PhilAldrick – Philip Aldrick - Daily Telegraph Economics Editor
BoE is planning for the looming credit crunch by providing special liquidity facilities. It's getting serious...
@paullewismoney - Paul Lewis - Radio 4 Money Box host
Barratts in administration again bbc.in/vhgAy9 ...Probably because the left shoe just didn't know what the right shoe was doing...
@Biz_Hack – Joe McGrath - Financial Journalist and editor of Insolvency Today
Retail is chaos atm. Serious issues to come. Watch between 24th and 26th December - they will fall like dominoes. #Retail #business
@simonnread - Simon Read -personal finance editor at The Independent newspaper
There have been a record number of surveys showing that Brits are cutting back this Christmas. "We haven't got any fresh ideas," PRs said.
@EdConwaySky - Ed Conway -Economics Editor of Sky News
Apparently a white xmas cld prevent UK recession. So what freak weather phenomenon wld it take 2 avert euro disaster? tgr.ph/tty0Kr
@martin_greig - BBC Journalist, on BBC Radio 4 covering business & economics
The big taboo? RT @benedictbrogan: David Cameron shouldn't be afraid to ask pensioners to do their bit tgr.ph/sTLCk6
SHOPPING
@money2themasses – ME!
Supermarkets accused of misleading their customers after investigation into pricing - ow.ly/7QL8r
@MartinSLewis – Martin Lewis – owner of Moneysavingexpert.com
Be careful buying gift vouchers this Christmas considering the perilous state of some retailers... bit.ly/u5ch1K
HOUSING & MORTGAGES
@Mortgage_Mind – Lea Karasavvas – Mortgage Broker
Last of the "sexy" rates have gone. Lenders happy with their lots and then game on in 2012. My money is on Northern Rock to come out flying!
@JonathanDavisWM - Jonathan Davis - Economist and Wealth Manager
Between 1in20 and 1in12 mortgages should be called but are not bit.ly/tDgzc0 Just prolongs the inevitable. Banks shld mark to market.
@JohnTheJourno – John Fitzsimons - Acting editor of personal finance website lovemoney.com.
As many as 10 applicants for rental properties in some areas bit.ly/v2EmNB
RECORD FSA FINES
First up reaction to HSBC's £10.5m fine for mis-selling to the elderly:
@gompertz - BBC Personal Finance Correspondent
HSBC mis-sells to 83 year-olds: now the bank will accept complaints back to 1991 bit.ly/rYKQHk #care
@paullewismoney - Paul Lewis - Radio 4 Money Box host
HSBC bought NHFA in 2005. Over next 5 yrs missold 2485 v elderly folk £285m of unsuitable bonds - £30m redress, £10.5m fine.
@_IainMartin - Iain Martin - Citywire reporter
FSA & HSBC let rogue adviser NHFA fall through the cracks bit.ly/rZgq9S. 4 FSA inspections failed to uncover problems RT @GHLumsden:
@simonnread – Simon Read - personal finance editor at The Independent newspaper
HSBC faces £40m mis-selling bill while Age UK admits making commissions from NHFA independent.co.uk/news/business/… in today's Independent
Then it was Wrap platform TRANSACTS turn when the FSA fined them for breaching client money rules.
@_IainMartin - Iain Martin - Citywire reporter
Transact failed to segregate client money between 2001 and June 2010 triggering £3.5m FSA fine bit.ly/vxh6Rz
@IncisivePal – Journalist at Professional Adviser and @IFAOnlineUK
Transact "failed to put in place adequate trust documentation for three of its 28 client bank accounts which also put client money at risk"
On both fines.......
@CashQuestions - Annie Shaw - Financial agony aunt & Daily Express columnist
The mis-selling scandals of the past few years show the bancassurance model is deeply flawed and we'd be better off without it
PROTECTION & INSURANCE
@KevinCarrC – Kevin Carr – Protection expert
RT @HI_magazine: Childhood cancer forces two thirds of families into debt charity warns bit.ly/u0cGDe - Most CI plans inc child cover
IMPACT OF EU GENDER RULES ON INSURANCE PREMIUMS
@MasonsFinancial – Dean Mason – Mortgage Broker
RT@_IainMartin: Treasury warns that EU insurance gender pricing case will raise cost of life policies by 15% for women bit.ly/tnVfvh"
The following series of tweets was from a conversations between Radio 4 Money Box presenter Paul Lewis (@paullewismoney) and Hargreaves Lansdown's Tom McPhail (@PensionsMonkey)
- paullewismoney: Treasury consults on gender free insurance which starts in a year. Good. Back to pooling risk not segmenting it. https://t.co/or4lB75Q
- PensionsMonkey: it will have the opposite effect; everyone will end up individually underwritten on annuities. standard rates are toast
- paullewismoney: you're probably right. Any way to screw customers will be taken with glee by insurers.
- PensionsMonkey: if it's any consolation, the #annuity insurers are genuinely scared of this uncertainty, pricing is very difficult
PUBLIC SECTOR STRIKES
@KevinCarrC - Kevin Carr – Protection expert
A point rarely made on the recent strikes is the level of sick pay - I'm told 6 months on average for public sector, 8wks for private
BANK ACCOUNTS
@money2themasses - ME!
Barclays increases charges on basic accounts – ow.ly/7SFxC
