Feb 10
The Bank of England believes inflation will slow to its 2% target by the end of this year and drop to 1.8% by 2014.
According to its latest quarterly inflation report, the Bank thinks inflation is likely to fall sharply in the near term, as the impact of the increases in VAT and petrol prices drop out of the twelve-month comparison.
Further falls are then anticipated as wages and prices seem unlikely to grow significantly, although the Bank admits the extent to which inflation will decline and the likely pace of that moderation remain uncertain.
Although the prediction for two years’ time of 1.8% is higher than the Bank’s previous estimate of 1.3%, it added that inflation is ‘somewhat more likely to be below the target than above it’ for the forecast period.
The Office for National Statistics confirmed on Tuesday that consumer prices index inflation dropped to 3.6% in January, down from 4.2% in December
The fall provided some much needed respite to savers who have seen the purchasing power of their money diminish as inflation has soared.
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Tags: Target, Target Yearend
Feb 09
Long before Survivor’s Richard Hatch, those who become accidental millionaires run the risk of ending up in jail. Not so for Parijat Saha who didn’t fall prey to the temptation to spend the $9.8 billion that suddenly appeared in his bank account. He simply notified the bank that made sure the funds would not be subject to withdrawal until they fixed the error. That may be the last time the $700/month teacher will ever see that amount of money come his way, but at the very least he didn’t end up taking the money and running with it like others before him. It brings up the point: What is the standard procedure after discovering a huge bank favor in your error? If you try to return the money and the bank doesn’t act quickly, you can easily fall victim to your own greed. That’s what happened to Herbert Starbird.
Honesty Can Still Pay
Once the money is available in your account, you do have the ability to remove it, whether the bank recognizes it is not yours or not at that moment.
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Jan 19
Prominent Silicon Valley venture capital firm Sequoia Capital is wading into the near $50-billion employee rewards market with its $24.5 million Series C round of financing of online San Francisco-based company Achievers.
The announcement on Wednesday by the venture capital heavyweight signals a heightened interest in the space that Sequoia partner Alfred Lin said is highly fragmented and lacks a dominant player.
We want to be an investor in the most interesting companies of tomorrow and we felt like this would be a company for the ages, said Lin, who will take a seat on Achievers board of directors. Sequoia has had a long history of backing technology companies such as Apple, Oracle, Cisco, Google and YouTube.
The round also included previous investors in Boston-based GrandBanks Capital and Toronto, Canada-based firms JLA Ventures and the Ontario Venture Capital Fund.
Achievers has now raised $38 million since CEO Razor Suleman founded the company in 2002 in Toronto.
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Tags: Capital, Employee Rewards, Sequoia Capital
Jan 10
We come across a lot of good credit cards over here at NerdWallet, enough to make even the most ardent credit card enthusiast just a bit jaded. 100,000-mile bonuses, free nights at the Hyatt, weve seen it all and recommended quite a few. But have you ever wondered which credit cards are good enough to hold our interest, able to bear the heavy crown that is being a nerds chosen card? Wonder no more: the NerdWallet team eats the dog food and gives firsthand reviews of what cards we keep close at hand.
Our credit cards run the gamut. Tim and Jacob, our CEO and COO respectively, have the travel credit card market down to a science. International travelers both, they consider waived foreign transaction fees a must. Newly minted nerds Anisha and Stephen are fresh out of college and looking to build up their credit scores while avoiding fees, while Lauras wallet is proof of credit unions value and member-oriented culture.
NerdWallet estimates.
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Tags: Cards, Credit Cards
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