Business

According to figures from HM Revenue and Customs (HMRC), approximately three-quarters of a million young adults are sitting on unclaimed pots of cash. Some 758,000 people aged between 18 and 23 have yet to claim their matured child trust fund, which is worth an average of £2,242 each.Child trust funds are long-term, tax-free savings accounts that were established for children born between September 1, 2002 and January 2, 2011, with an initial Government deposit of at least £250.Youngsters can take control of their account at 16, but once the account holder turns 18 it matures and they can decide whether they want to withdraw the money or re-invest it.How to check if you're owed money by HMRCAngela MacDonald, HMRC's second permanent secretary and deputy chief executive, said: "If you're ...

Wisdomtree chief economist Jeremy Siegel weighs in on the recent Fed rate cuts and more on 'Maria Bartiromo's Wall Street.' Metros in Virginia, Colorado and North Carolina with younger, more mobile populations stand to benefit the most as mortgage rates drift into the low 6% range, according to a new report from Realtor.com.  The Federal Reserve announced the first interest rate cut of the year last week with policymakers lowering its benchmark interest rate by 25 basis points. Mortgage rates don’t always fall in lockstep with Fed moves, but cuts often create downward pressure on borrowing costs. Last week, the 30-year fixed-rate mortgage dropped to 6.26%, down from the prior week's average of 6.35%. Currently, more than 80% of existing mortgages have a rate of 6% or lower, so as m...

La fête est finie pour les prêts immobiliers. Les taux d’intérêt sur vingt ans se stabilisent à 3,20 % en septembre, d’après le courtier Cafpi, alors que la tendance était à la baisse généralisée depuis près de deux ans. Les banques prêtaient à 4,30 % en décembre 2023, au plus haut du marché. Le coût total d’un crédit de 200 000 euros sur vingt ans est donc passé de 98 514 euros en décembre 2023, à 4,30 % (hors assurance et frais), à 71 038 euros aujourd’hui, à 3,20 %, selon les calculs de Cafpi. Soit une économie de 114 euros sur la mensualité, celle-ci passant de 1 243 euros à 1 129 euros. « La moitié des banques commencent à remonter légèrement leur barème, de l’ordre de 0,05 à 0,15 point de pourcentage en septembre, mais les possibilités d’obtenir une décot...

Coventry Building Society has launched a new regular savings account with prizes to help people build their cash.The new Sunny Day Saver (2) pays an interest rate of 4.3% AER and offers the chance to win 10 cash prizes every month. The account aims to encourage people to set aside small amounts of up to £150 each month. Joanne Forsyth, manager at Coventry Building Society’s Oxford Branch, said: “Saving for life’s rainy days is something many of us try to do - but it’s just as important to put something aside for the sunny ones too. Our Sunny Day Saver helps people build a small pot for those feel-good moments - whether it’s a weekend away, a treat for the family, or simply something that brings a bit of joy.”The account will be available for a limited time in September and can be opened...

Une société chinoise de biotechnologie a grimpé de plus de 4 500 % en trois mois depuis son introduction à Hongkong le 23 juin, alimentant les craintes d’achats spéculatifs. Les actions de TransThera Sciences ont bondi jusqu’à 64 %, atteignant 679,50 dollars de HK (74,74 euros) lors de la séance de mardi 16 septembre à la Bourse de Hongkong, après avoir été fixées à seulement 13,15 HK$ fin juin. Cette hausse de plus de cinquante fois son cours d’introduction en fait la meilleure performance de l’année au sein de l’indice Hang Seng Healthcare. TransThera a signalé mardi 16 septembre dans un communiqué les « mouvements inhabituels » de son cours, tout en assurant que « les opérations commerciales restent normales ». ...

While pension contributions have reached record highs, there has been a significant increase in the amount being withdrawn by those old enough to access their pensions, new data shows. Private pension statistics published by HMRC this week indicate that pension withdrawals by over 55s reached £12.9billion in the fiscal year 2022 to 2023. This amount has risen from £11.2billion in 2021 to 2022 and £9.3billion in 2020 to 2021. Becky O’Connor, director of public affairs at PensionBee, said: “People are increasingly benefiting from pensions either by choice or because salary increases are resulting in a rise in contributions. “However, the apparent increase in the number and value of withdrawals is concerning – the risk is that people take more out to cover the rising cost of living ...