60 second news round-up: the top money stories of the week
YourMoney.com 2016 awards
After a record amount of entries, this week saw the gongs handed out for the 2016 YourMoney.com Awards. Now in its 19th year, the awards are the longest-standing consumer finance awards in the UK which recognise the efforts of companies offering the best products and services. This year’s winners can be found here and you can also view the full photo gallery here.
Brexit still continues to dominate the investment headlines and this week some good news was announced as it was revealed that income investors could be in line for a dividend bonanza as a result of sterling tumbling in the wake of the UK’s decision to quit the European Union. However this has not been enough to stop the majority of UK investors feeling glum, with the announcement that investor confidence has plummeted to record lows following the results of the EU referendum. For those worried about how to protect their portfolio, Kames Capital’s chief investment officer Stephen Jones and fixed income specialist Adrian Hull gave their tips, telling investors to be mindful of diversification.
While the European Championships are over, Virgin Money already has its eyes on the new Premier League football season which kicks off next month. It has launched a Manchester United Champions bond, which offers to double the interest rate if the football team is crowned 2016/17 Premier League winners. Meanwhile the FCA this week named and shamed banks and building societies paying zero per cent on their cash savings accounts in an attempt to get people to switch to better deals. Banks were also urged to do more to protect their customers after findings showed a huge spike in cyber and card fraud last year.