A leading business advisory firm, Deloitte, has predicted that at least five building societies will disappear in 2007, as financial firms are forced to get fitter and leaner to survive.
Deloitte said that building societies need to see the “stark reality” of the challenge facing them in the UK investment arena and that they need to “focus […]

Recent research has shown that young people with relevant work experience have the potential to earn £1,050 pa more than those without, representing a significant UK investment.
The Learning and Skills Council (LSC) report asked more than 400 UK employers what they looked for in trainees and more than 90% said work experience was key when they looked […]

Ofcom, the body that regulates the telecoms and media sector, is to look into claims that the Post Office has mis-sold its landline phone service.
Following reports that customers were allegedly being switched to the service without their consent, and without even benefiting from cheaper utility bills, Ofcom will investigate whether the Post Office has breached codes of practice.
The […]

Heavily indebted consumers are more concerned about possible interest rate rises than at any time since November 2004, a survey undertaken by Lloyds TSB has found.
Nearly 80% of those surveyed said that they expected interest rates to be higher in a year’s time than they are now, with only 4% reckoning that they will fall over […]

Some companies find their pension obligations so onerous that they are ’threatening’, and they might face bankruptcy if they were to improve the status of their pension fund, a report has warned.
The warning has come from the Pensions Regulator and the Pension Protection Fund (PPF), which have published their first survey of pension fund finances.  
The survey shows […]

Telecoms company BT has announced that its pension fund deficit has widened to £3.4bn and, after taking pension advice, it will increase its contributions next year to try to make up the shortfall.
From 1st January 2007, BT proposes to make annual payments of £280m into its pension fund for a decade, with a £500m upfront ‘deposit’, which it hopes […]

Customers of the collapsed Christmas savings club Farepak who were hoping that a High Court ruling would entitle them to at least some of their UK investment in the scheme, have been disappointed.
Under dispute was the legal status of the money deposited with Farepak between its failure in October and when it went into administration as […]

The fund set up by the Government as a UK investment to help MG Rover workers after the collapse of the company last year still has £50m in it, according to industry minister Margaret Hodge.
The Government earmarked £175.6m to the fund to help ex-workers, staff at supply companies and other people affected by the bankruptcy of […]