Avoid the queues and drive your fuel costs down with Fasano UK

Dear Reader

With the cost of fuel spiralling upwards and a possible strike by tanker drivers restricting supply, Fasano Business Gallery UK has some handy hints on how to improve your fuel economy, We asked our resident expert on everything, Truman, for ways in which to save money on everyday motoring.

Lose some weight. Only carry what you need in the car for that day, remove items from the boot or child car seats if they are not to be used.

Don't get lost. Make sure you know where you are going as detours cost you time and extra fuel.

Think about walking. Sometimes that trip to the local shop is just as quick if you walk and you get some exercise too!

Get Streamlined. Roof rails and boxes give lots of drag and can increase your fuel consumption by 25%. Only have them attached when you need to use them.

Don't rev it up! If you are one of these people who like to be first away from the lights just consider that speeding and accelerating quickly can increase fuel consumption by 33%.

Think about Tyres. Getting your tyre pressures right will save you money. Try and check the pressure every month.

You can also look at the cost of your motor insurance as a way of improving your overall motoring efficiency. Visit www.GoCompare.co.uk for a competitive car insurance quote today. 

You can get more hints and tips and news and views from Fasano on Twitter @fasanomultibank

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There are many advantages to using a business credit card for the expenses associated with your business. Business credit cards can help you build credibility, manage accounts, sort out employee expenses and give your business the same kind of cashback and loyalty rewards that you receive on your personal credit card.

It's true. A few years back, the credit card companies began getting competitive in the field of personal credit cards. They started offering airline miles, hotel stays, cash back and other rewards to customers who used their credit cards to pay for purchases. Now the competition is heating up in the business credit cards market, and those same types of rewards are beginning to show up in loyalty programmes aimed at busineses.

Of course, the loyalty programmes are tailored toward the sorts of rewards that are most valuable to your business. Those include the typical airline and hotel miles - after all, the large majority of UK travel is still for business rather than pleasure. Why shouldn't your business reap the rewards of frequent purchases? But there are other business credit card rewards being offered as well - rewards that can help your company cut expenses on products that you use - office supplies, petrol for your company cars and other business expenses of the sort.

If you're looking for the best business credit card for your business, we can help. The easy to read charts make it easy to compare business credit cards, and the informative articles and credit card reviews can help you easily choose the credit card that will be best for your business.

• Capital One Business Credit Card
• Barclaycard Business Credit Card

Useful link

• 30 FREE Credit Check Trial

Savings Accounts and Bonds

• Halifax Bank 
• NatWest Bank
• Royal Bank of Scotland

Sources: FASANO UK, legal and Financial Independent Experts
and FININVEST, Finance and Investmensts

Why paying in pennies may land you a fine!

Whatever you do, don’t hoard your cash and pay your bills like this...

“If you look after the pennies, the dollars will look after themselves”; the words of American industrialist J. Paul Getty and advice we could all occasionally benefit from heeding. Unless your name happens to be Jason West that is.

Yes, this disgruntled Utah man had obviously been listening to Getty’s proverb a little too intently when he stormed into his local clinic to reluctantly pay a $25 medical bill. And unfortunately for West, his pugnacious penny payment landed him in something of a pickle with the police...

‘Do you take cash?’

Mr West had disputed the $25 charge issued by Basin Clinic, Utah as he claimed he had settled it months ago. So when he turned up at the clinic in person and still didn’t manage to get the bill dropped, he lost his rag.

West politely enquired as to whether the clinic took cash, which – unfortunately for this particular receptionist – they did. Presumably delighted with the answer, the disgruntled patient then proceeded to dump 2,500 pennies onto the counter, telling the cashier that he was more than happy to wait around while the change was counted.

The clinic obviously didn’t see the funny side of West’s antics as they quickly called the police to report the penny-pushing patient, claiming that he had been throwing coins at staff. The police confirmed that pennies were strewn about the clinic floor and desk and decided to charge West with ‘disorderly conduct’. If he is found guilty West will face a fine of $140 – or 14,000 pennies.

West had something of a simple reply to the clinic's accusation when questioned by a local paper, “that’s just the nature of pennies... they’re round”, he said.

Penny payment protocols

The clinic confirmed that it would have been happy to accept West’s portly payment, if only he hadn’t transferred it to the teller in such an aggressive fashion. But they would have been well within their rights to reject the 2,500 pennies.

While American law states that US coins or currency (including Federal Reserve notes and national bank notes) are legal tender and hence have to be accepted for payments of debts, dues, charges and taxes, an individual or organisation can still put reasonable conditions on the manner in which they will accept the payment. As long as they do not contravene state law, that is. So in theory the clinic almost certainly could have told West to gather up his pennies and pull out a bill or two.

Internationally, American coinage law is fairly unclear, as most countries set out specific regulations for settling bills in coins. The Eurozone limits coin payments to a maximum of 50 pieces while Canadian law states that payment in 1c (cent) pieces must not exceed 25c. Australia places their 1c limit at 25c and while New Zealand no longer has any 1c or 2c pieces, there is a $5 threshold for payments using 10c, 20c and 50c silver coins.

Here in the UK, the limit for paying in 1p or 2p coins is 20p, while 5p and 10p pieces are legal tender up to £5 and 20p and 50p pieces are acceptable for payments up to £10. Gold sovereigns are also legal tender with a face value of £1. But in reality – due to the high value of gold – they are usually bought and sold as bullion.

In England and Wales £5, £10, £20 and £50 notes are all legal tender for payment up to any amount. However they are not legal tender in Scotland or Northern Ireland.

Legal tender

This discrepancy between paying in notes across the UK arises because of the narrow and largely unknown technical definition of legal tender in the UK. Officially, legal tender law only really affects court cases involving non-payment, as a debtor cannot successfully be sued if payment is offered in legal tender.

This has no impact on ordinary transactions, which can take place in any form – whether notes, coins (legal tender) or even stamps – so long as both parties agree.
As a result, a debtor in Scotland or Northern Ireland could have their payment legally rejected if they offered it to the court in notes rather than coins. Though practically, I can’t imagine this ever happening!

But being turned down at the till with a handful of metal isn’t the only reason why you shouldn’t hoard your savings in coins...

Your cash is eroding

Earlier this week the Office for National Statistics announced that the Consumer Prices Index measure of inflation stayed at 4.5% throughout May. This indicates a continued rise in prices at more than double the target rate of 2% set out by the Bank of England. As a result of these jumping prices the actual spending power of any physical coins or notes you are holding onto is eroding every day. But there is a way to fight back against this erosion.

By stashing your cash away into a savings account, you can earn interest on your nest-egg and offset the impact of rising prices. Here’s a rundown of some of the best deals around at the moment...

Santander

Alternatively, if you get hold of a cash ISA for your savings, you won’t even pay tax on the interest you receive. And why should you, when as we reported earlier this month every £1 you earn at work before lunch goes straight to the taxman?

For a full list of all the top accounts for your cash head over to our savings centre or ISA centre now.

Are you a hoarder?

What do you do with your spare pennies? Are you a hoarder?

Let us know in the comment box below.

More: Compare savings accounts and ISAs What we can learn from the people of Richmond

Why now is a good time for a bond

More from FININVEST MONEY ALERT UK

Receive a free copy of FININVEST e-magazine packed with advice, information and tips on how to manage your money with confidence. Visit www.fininvest.co.uk

Punitive fees return on personal loans

The rates on personal loans have been rising for a while, but Moneyfacts figures reveal that all personal loan providers in the UK bar two are also charging early redemption charges if borrowers pay loans back early.

According to Moneyfacts, The Post Office and Zopa, the person-to-person online lending marketplace are the only providers to steer clear of ERCs.

Zopa said early repayment fees are bad for borrowers because they discourage borrowers from paying off credit quickly. It also said these fees are often hidden, so surprise borrowers as they attempt to exit the deal.

Early repayment charges are typically an extra cost of one or even two months’ additional interest, adding a significant amount to the overall cost of the loan, said the firm, which isn’t included in the initial rate presented to the customer before they buy.

Giles Andrews, CEO and cofounder of Zopa said: “Zopa has never charged an early repayment fee because we believe it is a nasty, hidden cost designed to protect the provider’s profit margins and discourage people from doing the right thing financially.”

He added: “Even our friends at the Post Office have a clause in their small print that says they can charge such a fee if they want. But the real culprits are the rest of the market that has used the banking crisis as a justification to withdraw a genuinely customer-oriented feature.”

Isa limit rise is a boost for savers

Isa limit rise is a boost for savers

Sam Dunn guardian.co.uk, Wednesday 22 April 2009 14.19 BST

• Budget speech reveals increase in Isa limit to £10,200
• Over 50s will benefit from the change this tax year

Isa savers got some good news in the budget.

Savers will be able to put up to £10,200 into Isas, with those aged over 50 allowed to make the extra payments in this tax year, the chancellor announced in his budget speech today.

The Isa allowance is currently £7,200 and allows savers and investors over the age of 18 to invest that amount in shares and stockmarket funds, including up to £3,600 in cash.

The changes will mean up to £5,100 in cash can be invested. However, only the over-50s will benefit this tax year – they will be allowed to make use of the extra allowance from 6 October while for younger savers the new allowances kick in next April.

The Treasury said the move would benefit around 5 million savers who currently use their full Isa allowance. Around 18 million people hold the accounts, which allow savers to hold either cash or funds without paying tax on interest or capital gains.

This is only the second time limits have been raised since Labour launched Isas in 1999, and comes amid growing calls for the government to step in and help savers hit by recent interest rate cuts, which have seen interest on savings accounts reach record lows.

Although savings specialists had been calling for an increase in allowances, they were unimpressed with the chancellor's response. "An extra £1,500 allowance from 6 October on a cash Isa paying 3% will give extra income of £22.50 over the rest of the tax year, meaning a tax saving of just £9 for a 40% tax-payer," said Carolyn Steppler, associate partner in personal tax at KPMG in the UK.

Gary Shaughnessy of fund management group Fidelity International said: "Increasing the Isa limit for future years fails to meet the needs of hard-pressed savers today.

"Fidelity, with strong support from Independent Financial Advisers, urged the chancellor to reinstate the dividend tax credit within Isas as a way to immediately boost Isa income, especially for basic rate tax payers. Increasing the maximum limit to £10,200 is jam tomorrow for the minority of people who invest the full annual allowance."

Despite the new allowance levels, there's a wider savings malaise warns Richard Norman, head of savings at the Post Office. "There is [still] low awareness of the current Isa limits; 56% of people have admitted they do not know what the existing cash Isa limit is.

"Furthermore, one in four of existing cash Isa account holders admit they do not already utilise their existing allowance."

The cash Isa's appeal as a safe harbour for savings has seen its popularity soar since the onset of the credit crunch. In December the 17% annual rise in cash Isa savings to £163bn was the biggest since 2003-04.

Extra savings will also be given to families with disabled children – the government says it will put an extra £100 a year into their child trust fund, while the severely disabled will receive £200 a year

July property prices show first real rise since 2007

July property prices show first real rise since 2007Monday 14th September 2009

Remortgaging figures are still weak, but lending for house purchase showed its first material annual growth in July for the first time since early 2007, according to figures from the Council of Mortgage Lenders. (CML)

Home buyers borrowed GBP 14.5 billion, which is a significant rise on the second month running, but still 42 per cent lower than the figures for July last year.

Within this, house purchase lending accounted for 56,000 loans totalling £7.5 billion - up from 47,000 loans totalling £7.1 billion in July last year.

This lending splits down into 20,400 first-time buyer loans and 35,700 home mover loans in July, up 18 per cent and 28 per cent respectively on June. But compared with a year earlier, the rise in first-time buyer numbers was higher, up 22 per cent compared with a 17 per cent rise in the number of movers.

In terms of product choice, over three quarters of mortgages taken out in July were at fixed rates, with borrowers able to lock in to an average fixed rate of 4.7 per cent, well below the average of 5.57 per cent over the past decade.

Commenting on the latest survey data, CML economist Paul Samter said: “It's tempting to call the turn in the mortgage market at this point, and there is certainly concrete evidencethat lending for house purchase is increasing. But there are still constraints affecting the lending industry's capacity to fund increased lending, as well as less consumer motivation to remortgage for the time being. The overall lending picture is likely to stay relatively subdued for some time, especially as the wider economy is far from robust as yet."

• http://www.fininvest.co.uk/ All the knowledge you need.

Fininvest

Fininvest S.p.A è la holding di uno dei maggiori gruppi di comunicazione a livello internazionale, che opera in posizioni di leadership nei settori della televisione commerciale e del cinema con Mediaset e la sua controllata Medusa, dell'editoria con Mondadori oltre che dello sport con il Milan. Il Gruppo ha poi un'importante partecipazione, pariteticamente con il Gruppo Doris, nel Gruppo Mediolanum, una delle principali realtà imprenditoriali italiane specializzata nei servizi bancari e nei prodotti assicurativi e previdenziali.

Nata come impresa familiare, Fininvest ha poi aperto agli investitori le sue principali società (Mediaset, Mondadori e Mediolanum sono quotate alla Borsa Italiana) e oggi può contare sulla fiducia di circa 300.000 azionisti, dai piccoli risparmiatori a importanti operatori finanziari e industriali, italiani ed internazionali.

Il Gruppo Fininvest dalla metà degli anni ’90 ha intrapreso un vasto processo di focalizzazione sul proprio core business investendo negli ultimi 10 anni oltre 15 miliardi di Euro. Tale scelta strategica ha tra l’altro avuto effetti estremamente positivi sulla reddittività operativa del Gruppo (intesa come incidenza del risultato operativo sui ricavi) che è più che quintuplicata rispetto al 4% del 1996.

on un valore complessivo stimato in circa 6 miliardi di euro, un fatturato di oltre 6 miliardi e 20 mila dipendenti, il Gruppo Fininvest è una delle maggiori realtà imprenditoriali italiane e si pone tra i grandi protagonisti internazionali della comunicazione e dell'intrattenimento, settori sui quali dalla metà degli anni Novanta ha progressivamente concentrato il proprio impegno.

Iniziata circa cinquant’anni fa, la storia del Gruppo fondato da Silvio Berlusconi è ricca di successi legati dapprima a realizzazioni d'avanguardia nell'edilizia e più tardi a settori fortemente innovativi.

Alla base delle affermazioni di Fininvest c'è una visione imprenditoriale attenta ai cambiamenti della società e all'evoluzione del mercato, visione sospinta da un forte spirito di iniziativa e capace di guardare con creatività ai settori più avanzati dell'economia.

Proprio queste caratteristiche portarono sul finire degli anni Settanta ad una intuizione decisiva. La possibilità di raggiungere direttamente le famiglie attraverso la tv, unita alla filosofia di servizio maturata da Fininvest nelle precedenti esperienze, indusse ad un duplice utilizzo della televisione: destinata da una parte a soddisfare il bisogno di intrattenimento e informazione del pubblico, dall'altra ad offrire alle imprese nuovi spazi per la comunicazione commerciale. Questa intuizione è stata all'origine della rapida crescita di Fininvest e contemporaneamente ha avuto un sensibile effetto spinta sullo sviluppo del Paese. Oggi il Gruppo è impegnato in importanti sfide lungo le grandi direttrici individuate per la crescita del core business: il processo di internazionalizzazione delle proprie attività, che ormai vede un 30% del fatturato consolidato realizzato all’estero, l’estrema attenzione alle tecnologie e alle opportunità che queste consentono di cogliere e il costante rafforzamento nel settore dei contenuti, reso sempre più decisivo dal moltiplicarsi delle piattaforme distributive.

Nell’ambito del sistema economico italiano, Fininvest rappresenta indubbiamente un esempio di grande valorizzazione dell'imprenditoria e un fattore insostituibile di crescita, culturale e civile. Grazie, ancora una volta, alla chiarezza delle proprie scelte strategiche, all'eccellenza delle proprie aziende, a una solida situazione patrimoniale-finanziaria, e soprattutto alle grandi qualità di quanti nel Gruppo lavorano e che da sempre rappresentano il suo principale punto di forza.