Posted by: WealthIFA | June 29, 2012

Financial News Update we 29/06/2012

Hope you had a good week?

Oh well, our foray into Europe was short lived in the football wasn’t it although, judging by last night’s performance, maybe that’s because we were knocked out by the 2012 champions?…

That said, Murray has kept hopes alive for now after seeing off the giant Croatian in yesterdays play at Wimbledon and Heather Watson could do the same for the women’s tournament this afternoon.

Away from sport, tensions are still rising in relation to care fees as we await the social care reforms that were promised in the spring and it’s looking like it will be the autumn before we see any response from the government – with no changes likely to affect those concerned before 2015 at the earliest.

Barclays are once again in the spotlight, along with other banks, after it emerged they (or a “small number” of employees) attempted to manipulate the market in relation to the London Inter Bank Offer Rate (LIBOR).

The impact of this manipulation on interest rates ultimately meant we paid more on mortgages, loans etc and, whilst the resulting fine for Barclays was £290m with RBS receiving a penalty reported to be £150m (although this has not been confirmed), sadly one thing is for sure – it is yet another blow to the reputation of financial services.

On a lighter note, my son has yet another football tournament this weekend (much to the delight of the female contingent in our house!) although, having had no less than 7 football sessions over the last 10 days (including training sessions, a tournament and a football birthday party!), understandably, he seems a little “footballed out”!

His mother did suggest we try to limit his football but we are yet to convince a 7 year old whose only interest is the score of pretty much any match of such a move?!

Anyway, whatever you have planned, hope you have a great weekend!

This Week …

Estate Planning

Is gift of parents’ home liable for tax? http://bit.ly/MaX5QE

Long Term Care

Government delays threatening future of homes, report warns: http://bit.ly/NvYHmU

Retirement

Don’t be coy over health. It could cost you dear: http://bit.ly/NxGwx9
Pensioners worst hit by inflation: http://bit.ly/OkNbND

Investment

Contentious Issue but what is QE and how does it help the UK economy?: http://bit.ly/OiWr4N
Barclays: Cameron says bank faces ‘serious questions’ http://bbc.in/MXGKct

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Please Note: The purpose of these updates is to report article content that may be of interest to you and/or your clients. Any information should not be construed as specific financial advice. Therefore, before any financial decision is made or plans are implemented, independent financial advice should be sought.
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Regards
Kieron

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