Weekly news roundup – 1st October 2010

2 min Read Published: 01 Oct 2010

healingdream / FreeDigitalPhotos.net
healingdream / FreeDigitalPhotos.net


 The weekly roundup of the headlines most affecting your personal finances. Click on a headline to read the full story:





1st October 2010

Minimum wage up to £5.93 an hour

-          The national minimum wage has risen to £5.93 an hour from £5.80 and for the first time people aged 21 will benefit from the rate.

Npower customers get £70m refund

-          Nearly 2m households overcharged for gas by energy giant Npower are to be refunded in one of the biggest pay-outs of its kind.

Bank of England's Special Liquidity Scheme 'will not be extended', says Paul Fisher

-          Bank of England warns that a £185bn Special Liquidity Scheme extended to lenders will not be rolled over when it expires in January 2012.

30th September 2010


BP boss expects new year dividend

-          BP may resume paying a dividend to shareholders in the new year, incoming chief executive Bob Dudley says.

Squeeze on home loans to continue

 - Banks are not expecting it to become any easier for householders to get a mortgage in the coming months, a survey says.

Bond funds selling faster than tech during bubble

 - The sales of corporate bond funds are now running at higher levels than those seen into equity funds in the months leading up to the TMT crash.

High street banks names and shamed

 - A new list of banks facing the highest number of complaints from UK customers is topped by Lloyds Banking Group.

FSA proposes raising FOS compensation limit to £150,000

 - The FSA has proposed raising the FOS compensation limit from £100,000 to £150,000.

House prices nudge up 0.1%

 - Nationwide says property market prices edged up this month, taking average value of a home to £166,757

Mortgage approvals dip as demand for property weakens

 - Analysts say downward trend in mortgage lending reflects high unemployment and low levels of consumer confidence 


29th  September 2010


Renting tips

-          Tips for tenants and landlords when rental prices are rising

Gold forecast to hit $1,450?an ounce

 - The price of gold will rise to $1,450 a troy ounce next year, according to a poll of bankers, producers and analysts attending the London Bullion Market Association conference


28th September 2010


UK grew at fastest pace in nine years in second quarter , ONS confirms

 - ONS revises up Britain's growth in the first three months as it confirm economy grew fastest pace in nine years in second quarter.

Councils 'add credit card fees'

 - A number of councils have started adding charges to bills of up to 3% for those paying for services by credit card.

BoE deputy says spend, spend

 - Interest rates are being held down to discourage savers, financial chief admits Britons should go out and spend to help invigorate the UK's economic recovery.


27th September 2010


House prices sag as cuts cool demand

 - Property survey finds supply rising as interest wanes ahead of spending cuts and says prices must fall to entice buyers

'Oil price to double' - how private investors can profit

 - With oil tipped to rise sharply again, we look at how to gain from another shock.