The Mirror’s latest Money blog has compiled significant updates in consumer and personal finance. Savings rates have taken a hit, dropping from 3.40% to 3.35% in January, the lowest since May 2023, based on Moneyfacts data. Tesco has introduced a Clubcard enhancement allowing customers to triple the value of their vouchers at select restaurants like ASK Italian, Bella Italia, and more.
Which? recently ranked energy suppliers in the UK, with Scottish Power at the bottom due to poor complaint handling. E was a standout performer with an overall score of 79%, according to a survey of nearly 12,000 energy customers.
President Trump’s imposition of tariffs on US imports has caused global concern. UK exporters to the US are facing increased costs, leading to uncertainty and potential job losses.
Savers are facing reduced rates, with average savings rate declining to 3.35% in January, the lowest in years. The Bank of England’s base rate cut has favored borrowers. The savings market is expected to adjust following recent rate drops.
Statistics from Just Group reveal that around 740,000 single retirees and 500,000 two-adult households heavily rely on the state pension for income.
Regen Central Ltd, a travel agency offering holiday packages, has gone bankrupt, canceling all bookings. The company, established in 2011 in Hertfordshire, operated under various names, including One Haji & Umrah and Regen Travels.
The FTSE 100 experienced a decline following President Trump’s tariff threats, impacting pension funds and stock market investments. Tesco’s new Clubcard offer allows members to triple their points at selected restaurants, providing added value.
Caldwell Construction Limited has entered administration, endangering over 400 jobs. The challenging construction sector conditions, including rising costs and market uncertainty, contributed to the company’s collapse.
The housing market has seen a surge in prices, with the average home price rising by nearly £9,900 to £368,031 since December, marking the largest January increase in 25 years, as reported by Rightmove.