Royal Bank of Scotland (RBS), which is 84% state-owned, has today announced it will axe a further 500 positions within its wealth management division, as part of its three-year restructuring plan. Since its bailout at the height of the financial crisis, the bank has shed approximately 23,100 jobs and today’s announcement comes less than a [...]
The world’s largest technology company by sales, Hewlett-Packard (HP), has today announced it is to reduce headcount by 9,000. The Palo Alto, California-based company said the job losses will be the result of productivity gains and automation, in order to provide “next-generation services” which will benefit clients. It said: “As a result of productivity gains [...]
Ethical shopping just got easier with a new iPhone app designed to help consumers who want to be socially responsible in their buying habits. Barcoo gives the ethical profile for the company behind any product simply by scanning that product’s barcode using the iPhone’s built-in camera. Information included in the profile includes the company’s social [...]
Chipmaker Intel has reported record results for the first three months of 2010, boosted by demand for new chips for computer servers. The company, which is based in Santa Clara, California, said profits quarter one profits increased almost fourfold with net income totalling $2.4 billion (£1.5 billion), compared with $629 million in the same period [...]
Mobile phone applications (apps) that allow users to access their bank accounts and pay for goods are the next step in the personal finance technology revolution, the Mobile Data Association (MDA) claimed this week. MDA chairperson Steve Reynolds said demand for mobile banking will be driven by the “younger generation”, who are more familiar with [...]
The government has announced plans to set up a venture capital fund to be worth an estimated £1 billion over the next ten years. The Department for Business, Innovation and Skills said the money will be targeted at small businesses and start-ups in the technology sector. Priority will be given to companies with high growth [...]
Barclaycard has reported that most debit cards it issues from March will contain contactless technology as standard. Contactless cards enable users to pay for shopping under £10 by simply holding the card up to a terminal without taking it out of their wallet. The payment is debited from their account as it would be for [...]
Independent brand valuation consultancy, Brand Finance plc, has revealed the extent the credit crunch has had on the technology sector after the economic downturn has wiped $67 billion (£37.5 billion) off the top 100 global and US brands. In March this year, the organisation published its report on the 500 most valuable Global Brands. The [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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