I’ve been running my own business for many a year now, but the great thing is that there’s always something you can learn. So here’s a handy business tip: 1. Get lots of pretty-much captive customers 2. Quadruple your prices 3. As if by magic, your profits soar! It worked for the oil and energy companies last year and, wow, it’s worked for HSBC and doubtless will for a few other big banks. From the outside it might seem that world events, soaring oil prices and interest rates, have been behind their success. I’m sure we’ll find when bonuses come to be paid, however, that it was actually down to the bosses. The man on the Today programme tried to pin down the man from the FCA, to find out what they might do about it. Apparently, they’re definitely going to see what they can do about it. That’s about as far as he got, despite much attempted pillorying. And so it goes.
“The true impact of inflation on cash savings and pensions”
Leaving your money in the bank or building society has always meant that its ‘real value’ after inflation will go down. Although rates go up to, supposedly, control inflation, any chart you look at will show that, apart from a few very short-term blips (N Lamont, I’m looking at you) they are never more than inflation.
