Gatehouse Bank hands savers a boost with new best-buy fixed-rate bond paying 2.1 per cent

In addition to the new table-topping rate, the account is made more attractive by a lucrative sign-up offer from savings marketplace Raisin.

Those that sign up and fund a one-year bond via the Raisin website can earn a cash welcome bonus of up to £100, depending on how much they deposit.

Savings boost: Gatehouse Bank now pays the best one-year fixed rate bond

There has been a small, but welcome, revival in the savings market over recent weeks. 

It's welcome news to savers that now banks have turned their attention to fixed rate bonds too.

After a drought of new rates over the one-year term, challenger bank, Tandem, was the first to raise its rates at the end of November. It pushed the best available one-year bond rate up to 2.05 per cent.

Since then, the app-only bank has been joined by rivals Atom and Investec Bank. Of the three, Atom offers the most affordable minimum deposit at £50, compared to Tandem at £1,000 and Investec at a whopping £25,000.

Gatehouse is Sharia compliant, which means it cannot pay interest. Instead it quotes an expected profit rate. 

Money with the firm are protected by the Financial Services Compensation Scheme limit of up to £85,000 - or £170,000 for couples. 

As mentioned above, those who do open an account via Raisin earn cashback for doing so.

The welcome bonus offer pays £25 cash if you open an account and deposit more than £10,000. 

If you can squirrel away more than £40,000 you earn a more generous £80, and for those who can commit £75,000 you earn £100 cash.

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December 17, 2018

Sources: Daily Mail

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    1 February 07, 2019
  • Struggling fashion brand Superdry bemoans warm weather as store sales melt and online sales slip too

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    1 February 07, 2019
  • Thomas Cook considering sale of airline business

    Thomas Cook considering sale of airline business

    'all options to enhance value to shareholders' sent the firm's shares up over 13 per cent this morning.</p><p>In its first quarter trading update, Thomas Cook revealed it has swung to a £60million operating loss.      </p><p>Review: Thomas Cook could end up selling its airline arm </p><p>The company said it needed 'greater financial flexibility and increased resources' to invest in its own-brand hotels. </p><p>The group wants more control over its hotels to make them more customisable, it says, such as offering a sunbed booking service. </p><p>Thomas Cook's chief executive, Peter Fankhauser, said: 'As expected, the knock-on effect from the prolonged summer heatwave and high prices in the Canaries have impacted customer demand for winter sun. </p><p>'Where Summer 2018 bookings started very strongly, bookings for Summer 2019 reflect some consumer uncertainty, particularly in the UK, and our decision to reduce capacity which will both mitigate risk in our tour operator business and help our airline to consolidate the strong growth achieved last year.'</p><p>Results: Thomas Cook suffered a £60million loss in its last quarter</p><p>Thomas Cook's share price tanked last year after it posted a profit warning in September. </p><p>The travel group saw its operating loss rise by £14million year-on-year for the three months to the end of December, with holiday booking levels down.</p><p>The firm operates a fleet of 103 aircraft, carrying more than 20million passengers, and generated £3.5billion in revenue last year, with underlying operating profits growing 37 per cent to £129million. </p><p>Revenue increased by just over 1 per cent to £1.66billion over the period.</p><p>For its winter seasons, total bookings are up 8 per cent, but average selling prices are 10 per cent lower overall.</p><p>The summer 2019 programme is 30 per cent sold, slightly ahead of last year, and tour operator bookings are down 12 per cent.</p><p>Peter Knapp, chairman and chief creative officer at Landor: 'It comes as no surprise that Thomas Cook is looking to sell off its airline brand, which has become conspicuously old-fashioned. </p><p>'The market today is increasingly polarised between low-cost, low-frills short haul airlines and luxury, long-haul carriers. Unfortunately for Thomas Cook, its airline fits into neither category and no one knows what it actually stands for now.</p><p>'We don't yet know who will buy the brand, but easyJet and Ryan Air are potential would-be buyers, looking to grab its lucrative airport slots to holiday locations.'</p><p>Ed Monk, associate director from Fidelity Personal Investing, said: 'The past year has been a holiday nightmare for Thomas Cook. It plunged from profit to loss and saw its debts piled up to £389m at the time of its last update in November. </p><p>'Today's first quarter results show losses grew again but at least showed no worsening of full-year earnings expectations, with winter breaks to the Nordics and Continental Europe down on last year but trips to Turkey and North Africa higher.</p><p>'Net debt remains the huge problem, however, and jumped to £1.588bn. That coincides with the company announcing a 'strategic review' of the profitable and growing Group Airline business, which has seen profits rise 37% in the past 12 months. The company is now considering 'all options', which could mean a sale.'</p><p>Upbeat: Shares in Thomas Cook have increased by 13% this morning </p><p>Meanwhile, Russ Mould, investment director at AJ Bell, said: 'Referencing a hangover from the warm and sunny summer of 2018 as part of an effort to explain a fall in winter bookings seems like clutching at straws by tour operator Thomas Cook.</p><p>'More credible is the argument that consumer uncertainty is pressuring bookings for this summer, where at least the company has adjusted its capacity accordingly.</p><p>'The most telling element of Thomas Cook's update today though is a strategic review of its airline business.</p><p>'This review, which could result in a sale of the division, is an acknowledgement that the company needs to take radical action to steady its performance and repair a fragile looking balance sheet. Investors will be hoping it might avert the need for a dilutive fundraising.</p><p>'There seems merit in the company concentrating on its portfolio of hotels instead. These typically generate better margins and it has plans to open 20 new hotels in 2019.' </p><p>Laith Khalaf, a senior analyst at Hargreaves Lansdown, said: 'Reading between the lines of Thomas Cook's latest trading statement, Brexit is dampening summer holiday bookings, as consumers sit on their hands, waiting for more clarity on the UK's withdrawal from the EU.</p><p>'Part of the reluctance to book ahead may be logistical, part financial, as Brexit causes concern both over potential travel disruption, and the value of the pound.'</p><p>Thomas Cook's share price is up 12.07 per cent or 3.75p to 34.83. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. 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    1 February 07, 2019
  •  India's central bank surprises with cut in key lending rate

    India's central bank surprises with cut in key lending rate

    t rate by a quarter of a percentage point to 6.25 percent in a surprise move intended to keep growth on track.</p><p> The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but can also spur inflation.</p><p> The Reserve Bank of India judged the consumer inflation rate, which dropped to 2.2 percent in December — the lowest level in 18 months — from 3.4 percent in October, safe for loosening monetary policy.</p><p> In a bimonthly review of the economy released Thursday, the central bank forecast India's economy will expand at a torrid annual rate of 7.4 percent in 2019-20, up from 7.2 percent in this fiscal year. India's financial year runs from April to March.</p><p> The central bank said that was mostly supported by government spending on infrastructure though investment activity was recovering.</p><p> The rate cut was the first in 17 months. The bank hiked rates twice in quick succession in June and August of 2018 to keep inflation in check.</p><p> "Headline inflation is projected to remain soft in the near term, reflecting the current low level of inflation and the benign food inflation outlook," the central bank said.</p><p> The bank said its policy stance had shifted from "calibrated tightening to neutral."</p><p> Mizuho Bank economist Vishnu Varathan noted in a commentary that India has one of the highest policy rates in the region. He added that "hastily cutting rates alongside fiscal slippage (led by farm cash handouts and tax breaks) smacks of leaning into loose fiscal stance; potentially at the cost of rupee and wider macro-stability."</p>

    1 February 07, 2019

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