Get out of accounts that gather dust

Article Abstract:

Investors may find that savings accounts pay less than new types of account, and they are not always notified that better opportunities are available. Obsolete accounts have led to complaints to the UK Building Societies Ombudsman. Northern Rock and Halifax have been particular targets of criticism and are acting on this by shutting down old accounts, putting investors in new accounts. Abbey National is among UK banks which does not plan to act. Investors should move funds immediately if accounts are not open to new business.

Analysis, Prices and rates, Personal finance, Bank fees

---

Investing for income: all roads carry risk

Article Abstract:

UK investors can no longer use building societies and banks as homes for their savings as rates for deposit accounts have dropped and may be less than inflation levels. Investors should seek both growth and income and include equities, bonds and cash in their portfolios. They should protect their capital against inflation and aim not to withdraw income above the level that preserves their capital. Income tax and capital gains tax affect returns. Shares offer a chance of growth, but can also involve risk.

Evaluation, Investments

---

Long wait for Midshires money

Article Abstract:

Royal Bank of Scotland is to acquire Birmingham Midshires, and its members may receive 500 pounds sterling each. The exact amount has yet to be decided, but long-term members are likely to receive more. The offer is foreseen at a minimum of 605 million pounds sterling, though Royal Bank of Scotland may not actually pay this amount and could decide against the acquisition following due diligence. Midshires will have autonomy for three years after the acquisition if it goes as planned.

Mergers, acquisitions and divestments, Royal Bank of Scotland PLC, Birmingham Midshires Building Society

Similar abstracts:

• Abstracts: What young accountants think of the Institute. The year ahead. Old hand steers young Hong Kong society to maturity
• Abstracts: Get in before it's too late. Investment trusts
• Abstracts: Optimism at Boots. Rooting for Boots. Fill your Boots
• Abstracts: Fruitful Labour. Review of the year - how 1998 shaped up for investors
• Abstracts: Millennial fears may prove justified abroad. Global equities: dollar the key. Global strategy: more difficult

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.