Akin Akinrinlade

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Recovery failing to help deficit reduction

Britain's economic recovery is failing to help the public finances as government spending continues to rise, official figures show.<p>Borrowing rose to £500m in July, excluding one-off effects, as welfare and local government costs offset an increase in tax revenues – falling far short of forecasts of …

If you've paid for a state pension, you should get a state pension

COMMENT: Where you live is irrelevant – expat pensioners have paid their National Insurance like anyone else.<p>As an eye-catching headline for a campaign, it took some beating.<p>Expat pensioners’ call for Britain to be suspended from the Commonwealth over the Government’s refusal to index-link the …

European businesses forget that the United States is not united at all

New York is not really in America. It is actually somewhere mid-Atlantic, slightly closer to Europe than to the country whose star-spangled flag is hung above the doorways of its soaring steel high-rises.<p>One of the reasons that so many British companies struggle to crack the US is because they do …

TSB: Why is Europe telling us to switch banks?

Comment: The new TSB bank to be split out of Lloyds opens its doors next month, but not all customers want to move.<p>Millions of customers who bank with Lloyds are digesting the fact they will shortly bank there no more. In a move that is entirely unprecedented, 4 million people are becoming …

Loyalty cards haven't saved us a penny, say one in three

Eight million shoppers are using their loyalty cards less than last year and a third leave them at home, research suggests.<p>Loyalty cards are on the decline as eight million consumers say they use their cards less than a year ago, according to research by payment provider WorldPay.<p>As many as one in …

Jack Daniel's plans largest expansion in its history as demand for whiskey soars

Jack Daniel's is investing in its largest ever expansion as demand soars for the iconic whiskey.<p>The $100m investment will add stills and barrel warehouses at Jack Daniel's operations in Lynchburg, Tennnesse, the brand's Louisville-based parent company, Brown-Forman Corp, said.<p>A second production …

100 applied for job but not one started work

A businesswoman has criticised “time-wasting” JobCentre staff for directing 100 applicants to apply for a position at her firm when none of the candidates were interested in the job.<p>Jean Rasbridge, who co-founded a firm that sells electronic cigarettes, said the centres are helping the unemployed …

Great expectations of Chinese oil

Millions to get CPP compensation, but millions may miss out

More than seven million people are in line to share a £1.3 billion compensation pot after Britain's biggest banks yesterday agreed to foot the bill for years of mis-selling credit card insurance cover.<p>But millions more could miss out as regulators admitted the redress scheme linked to the CPP …

Price of farmland trebles in decade and 'set for £10k an acre'

The price of UK farmland has trebled in less than a decade to hit a record high, according to a new survey, as researchers predicted the average price of an acre could soon hit £10,000.<p>Interest from farmers and investors buying to rent land to farmers pushed the cost of farmland to £7,440 an acre …

Leaving it late: Thousands of workers within 10 years of retirement aren't saving into a pension

By<p>Published: 07:12 EDT, 25 July 2013 | Updated: 07:12 EDT, 25 July 2013<p>e-mail<p>47View<br>comments<p>Thousands of workers who are within 10 years of retirement …

Pension funds deficits can only get bigger without an interest rate rise

Occupational pension fund managers will be crying into their beer tonight. Mark Carney, the Bank of England governor, has in effect ruled out an increase in base interest rates for another three years. And without a rate rise, pension fund deficits are only going to get larger.<p>There will be the …

Pension changes will hurt millions, says TUC

Millions of lower- and middle-income workers – particularly those several decades from retirement – could be thousands of pounds a year worse off under changes to the state pension, the TUC has claimed.<p>The government announced this year that it is replacing the complex assortment of state pensions …

Worst UK pension providers named

Britain's worst pension providers have been named for the first time in official tables that reveal how some insurers are paying annuities 30% below the best deals on the market.<p>Scottish Widows and Clerical Medical, part of the government-backed Lloyds Banking Group, have emerged as the worst …

Average earners 'will be £1,500-a-year worse off' under the new flat-rate state pension

• Workers earning £26,000 will lose out on £1,508-a-year if they retire in 2030<br>• Trades Union Congress says you lose out more the longer you work<br>• Up to 20 …

Retirement

Bond fund investors feel the pain of rising rates

Bond ETFs are starting to crack under the strain of higher interest rates.<p>The bellwether 10-year Treasury note yield rose as high as 2.90% Monday, the highest level since July 2011. Rates have soared since May 2, when the 10-year T-note yield hit 1.62%, thanks in part to the Federal Reserve's …

We've switched to WTI crude from Brent

Starting today, we have changed the type of oil that we show on the Report on Business and Globe Investor home pages to West Texas Intermediate crude oil from Brent.<p>When spreads were huge between WTI and Brent, we switched to showing Brent, thinking it was a truer benchmark for the global price of …

Are Mexico's Oil Reforms Enough To Lure Foreign Investors?

Undoing 75 years of law and national pride doesn’t happen quickly. Mexico made a significant step last week in loosening its restrictions on foreign investment in its oilfields, but determining the impact of those proposed reforms could take years to sort out.<p>While the changes proposed by Mexican …

California’s oil industry seems to have fracked itself in the foot

<i>This article has been corrected.</i><p>The oil industry had seemed on the verge of defeating attempts to regulate hydraulic fracturing, or fracking, in California. But revelations that some oil companies were already using the technology (which involves injecting chemical-laced water under high pressure …

European probe into oil price-fixing widens to Finland

As a nonprofit news organization, what matters to us is the same thing that matters to you: being a source for trustworthy, independent news that makes people smarter about business and the economy. So if Marketplace has helped you understand the economy better, make more informed financial …

Three top picks from oil and gas analyst Josef Schachter

<i>Josef Schachter is president and CIO of Schachter Asset Management. His focus is on oil and gas stocks.</i><p><b>Top picks</b><p><b>Petromanas Energy Inc.</b><p>Peteromanas is focused on exploration in Europe with operations now in Albania and France. The Albanian business is focused on light oil targets and the French …

New drilling technologies could give us so much oil, the climate won’t stand a chance

New oil drilling technologies could increase the world’s petroleum supplies six-fold in the coming years to 10.2 trillion barrels, says a report released today by market research firm Lux Research.<p>The most common and controversial technique is hydraulic fracturing, or fracking, in which …

Oil

Emerging market rout threatens wider global economy

The $9 trillion (£5.8 trillion) accumulation of foreign bonds by the rising powers of Asia, Latin America and the emerging world risks going into reverse as one country after another is forced to liquidate holdings to shore up its currency, threatening to inflict a credit shock on the global …