Top Story

22 million set for income tax cut

An estimated 22 million people saw their income taxes cut, Tuesday, as the beleaguered Brown Government sought to put closure on the row caused by the scrapping of the 10p tax band.

Basic rate taxpayers will get an extra £120 this year - the initiative aimed at compensating 5.3 million lower paid workers who suffered after the 10p rate was canned. The move will be financed by an additional £2.7 billion of Government borrowings.

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Investing News

Triple digit oil here to stay

Having been a little over $20 at the outbreak of the second Gulf War in 2003 and just over $50 at the start of 2007, the price of a barrel of oil broke through $100 at the end of February and has carried on rising since. While industry analysts are predicting a retrenchment below $100, fund management group, Threadneedle, believes that this view is naïve.

Markets too gloomy?

Stock markets are excessively gloomy and fixated on the macroeconomic threat of contagion from a weak US economy. So says Ian Ormiston, European investment director at Resolution Asset Management.

Moneyextra - A trusted force in online finance!

Moneyextra, the UK's longest-established personal finance website, is now under new management committed to building the online brand. The website is being backed with fresh investment and a renewed commitment to presenting a compelling online solution to site users.

New Star to merge funds

Fund management group, New Star, is to consolidate four of its funds into tw.

Leeds goes postal

Leeds Building Society has launched a Fixed Rate Postal Bond paying 6.25% AER (6.17% gross p.a.) - customers having access to all of their funds at any time without notice or penalty.

Bonding with Chelsea

Chelsea Building Society has announced the launch of two new Spring Fixed Rate Bonds - the 1 year (2nd Issue) offer paying 6.80% gross pa (5.44% net); the 2 year (2nd Issue) deal paying 6.50% gross pa (5.20% net).

Bank of England - Base rate held at 5%

As expected the Bank of England has opted to keep base rate on hold at 5%. Indeed, last week only 5 of 65 economists polled by Reuters were forecasting a rate cut.

Jupiter to launch Strategic Bond Fund

Investment manager Jupiter is to launch its Jupiter Strategic Bond Fund on June 2nd - the fund aimed at investors with a medium to long term outlook and who are seeking income with the potential for capital growth.

(Some) women miss out on retirement

New research from HSBC reveals that while more women than ever in the UK have pensions, confusion over eligibility means almost two million of them are losing out on potential pension income.