Finance in the News – w/c 05.08.19

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Short summaries of articles we think you will find useful from some of the weekend’s broadsheets.

FINANCIAL TIMES

“The Lifetime ISA: three ways to invest”
A government-backed scheme for the under-40s to save for retirement or a first property.
“Sterling takes a pounding”
Fears of no-deal Brexit shake the currency against the euro and dollar.
“Watchdog poised to clean up pension transfers market”
Contingent charging ban among package of FCA measures.
“Revolut launches commission-free share trading”
Digital bank takes on platforms in bid to ‘democratise’ investing.
“Insolvencies soar as business confidence dwindles”
Brexit uncertainty weighing heavily on small companies and the self-employed.
“Gold revival drives desire for precious metal ETFs”
Vehicles that own physical assets are gaining ground.

THE TIMES

“‘Women’s pensions fall even further behind men’s”
Efforts to increase saving have made the system more unfair.
“Trackers are a good bet for mortgage punters”
Last week’s rate reduction in America and the prospect of a no-deal Brexit have raised expectations that the Bank of England will cut its benchmark interest rate from 0.75%.
“It’s the great pension pot debacle — HMRC overtaxed savers by almost £3,000 each”
HMRC has overcharged savers £480 million in unnecessary tax, which they then have to claim back.

THE TELEGRAPH

“’Inheritance tax relief for investors turns six: how to beat the death tax”
This week marks the six-year anniversary of a loop-hole that allows investors to avoid the much-loathed death tax by investing in fledgling companies through an Isa.
“The three reasons your car insurance is about to get more expensive”
The cost of car insurance is rising as insurers’ profits come under increasing pressure from repair costs, theft and legal changes.
“Why EU rules mean you might be cut off from online banking unless you have a mobile phone”
The new regulations, being introduced at the direction of the EU, mean banking customers will need to go through “two-step verification” when logging in online. This means entering a password and then a passcode, typically sent by text message.

THE GUARDIAN / OBSERVER

“No-deal Brexit: your financial survival guide”
Here’s what might happen to house prices, jobs, savings and pensions – and what you can do about it.
“Low-income Britons ‘more vulnerable to recession than in 2008’”
Weak wage growth and years of austerity mean Brexit downturn will be harder for poor.

MAIL

“Will my partner lose state pension inherited from his late wife if we get married?”
Steve Webb replies.

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Source: https://www.techlink.co.uk/

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