Your Money
| Use attributes for filter ! | |
| Final episode date | October 25, 2014 |
|---|---|
| Networks | CNN |
| Presented by | Christine Romans |
| Languages | English |
| Genres | News |
| Chat Show | |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2352777 |
About Your Money
Christine Romans breaks down the financial news of the week.
Interest rates: Why there is more pain still to come
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Ozempic: Man arrested in 'skinny jab' ingredient raids
... " The very best that could happen to you is you lose Your Money in a scam, " he says...
Suella Braverman row: Who's scared of Rishi Sunak?
... " I d put Your Money on it, " one cabinet source told me, suggesting confidently the plan to fire her then has already been hatched, " the position is pretty entrenched"...
Banks accused of dragging their feet over fraud refunds, says MP
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Big banks accused of doing little for savers
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HS2: England's buses get £150m boost from cancelled leg
... " Due to private control of our buses, whenever public money - Your Money - is used to boost bus services, any financial benefits are seen by shareholders, not local people...
'My business had £1. 6m stolen in 20 minutes'
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Energy firms holding £8. 1bn of customers' money
... Energy companies saying, it s Your Money, you can get it back when you want - it s lies...
Big banks accused of doing little for savers
By Kevin PeacheyCost of living correspondent
Big banks are doing " as little as they can get away with" when setting higher savings rates for loyal customers, an influential group of MPs has said.
The Treasury Committee has been scathing of the returns being offered to savers by The Major High Street banks as interest rates have risen.
It has called on customers to Shop Around for better deals.
New Bank of England figures suggest people have been shifting their savings to get better interest rates.
'Too slow'The Treasury Committee has consistently raised concerns about whether The Rising Bank of England benchmark interest rate is being passed on in full to savers.
In July , it accused them of offering for low rates.
Banks have been reporting their results in recent days, with.
In response. Harriett Baldwin , who chairs the Treasury Committee, said: " The Big Four banks have been far too slow to reward savers through better rates on instant access savings accounts.
" The figures published in The Past week still show signs that The Banks are trying to do as little as they can get away with to reward our constituents for saving. We will continue to press for individual and business savers to be rewarded. Meanwhile, savers should Shop Around for The Best rate. "
She suggested that " savvy consumers" were looking around for better deals, a view backed up by the which were published on Monday.
The data showed that £7. 7bn was deposited into Treasury-owned National Savings and Investments (NS& I) in September, The Most in a single month for three years, and up sharply from the £300m deposited in August.
NS& I was offering a market-leading fixed deal at The Time , which required savers to lock away their savings.
This type of account, offered across various providers, currently has an average interest rate of 5. 21%, compared with a 1. 96% average return on easy-access accounts.
Alice Haine, Personal Finance analyst at investment platform Bestinvest, said: " The era of cheap money is well and truly over, so households should prioritise clearing expensive unsecured debt and building up a Rainy Day pot to withstand any unexpected expenses.
" Those fortunate enough to have spare money to save should move fast, as The Top deals get snapped up quickly. "
In response to criticism, bank bosses have argued that attempts have been made to encourage savers to look at all the available deals.
What are my savings options?There is a guide to different savings accounts, and what to think about on the government-backed,
Related TopicsSource of news: bbc.com
