Just weeks before Christmas, Aston Martin, Unilever and Halfords announced cuts to their workforces.
The losses will add to a growing tally as firms struggle in the worst economic downturn since the First World War.
Unemployment is at 1.8m, its highest level for 11 years. It is expected to rise to 3.3m by 2010.
Every day, about [...]
Is there an easy way to calculate how long it would take to see the benefits of delaying my pension so I can compare the options? R.M., Exeter
Des Hamilton, technical director at the Pensions Advisory Service, replies: The choices available to you are to stop working and claim the state pension; [...]
Punitive increases announced by Chancellor Alistair Darling in his Pre-Budget Report last week will hit those earning more than £140,000 hardest.
From 2011, big cuts in personal allowances and an increase in the top rate to 45p will effectively push the rate of tax for those on £140,000 to 60p in the pound - the [...]
'The speed of the drop in property values is unprecedented for this country, but when the market starts to pick up, the huge advantage that buyers currently have will be lost,' says James Greenwood, of Stacks Property Search & Acquisition.
He points buyers in search of a great deal towards new developments.
'With most developers in [...]
Inflation eroded retirees' purchasing power, but deflation could be very bad news for some annuity holders.
There is now a growing risk of deflation, say experts. Prices are falling, leading to the measure of inflation to which annuities are related, the retail prices Index (RPI) doing likewise.
The Bank of England, governor, [...]
The rule change comes amid an increasing number of mergers in the building society sector and heightened concern among savers about their compensation coverage in the event of a society's collapse.
Unlike banks, merged building societies have had to operate under one FSA and compensation authorisation until now, meaning total savings coverage of [...]
The Institute for Fiscal Studies said millions of people earning more than £20,000 a year would pay more. This casts serious doubt on the Treasury's claim that all those with salaries under £40,000 are safe.
The tax burden is set to rise because of the increase in National Insurance contributions in 2011. The Institute also warned [...]
So while renting is becoming an increasingly attractive option for those who cannot afford to buy a home of their own, tenants need to be careful when moving into a property. Renters need to make sure they know what they are signing up for.
Chris and Siobhan Taylor rented a five-bedroom house in Loughton, Essex, [...]
From today, Tesco is cutting prices by up to 50% on 1,000 lines including bicycles, cameras and digital music players.
The move is a direct challenge to High Street rivals which are responding with longer opening hours and further lastminute 'guerrilla' sales.
House of Fraser is to offer price cuts of up to 40% in a [...]
The Government's mortgage expert Sir James Crosby has warned that unless swift action is taken repayments and redemptions will outstrip lending in 2009.
Meanwhile, a Treasury document accompanying the Pre-Budget Report says the average independent forecast is for a further 9.2% fall in house prices in 2009.
Banks' attempts to shore up balance sheets and the [...]
© 2008 Daily Financial News