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Consumers risk making inappropriate investments they do not understand as they search for a better return on their savings, the City regulator says. Interest rates have been at record lows for some time, with a typical savings account now paying a paltry 0.33% in interest, official figures show. In its annual business plan, the Financial Conduct Authority (FCA) said the search for returns left many investors exposed to higher losses. It also raised fears over pensions.
A secondary market allowing people to sell their existing annuity, or retirement income, for a lump sum is scheduled to start in April 2017
The Financial Times
PSA Peugeot Citroën plans to re-enter the US car market after an absence of more than two decades, as part of an ambitious global push to reduce its heavy reliance on European vehicle sales. The French carmaker, whose turnround under chief executive Carlos Tavares has brought it back from the brink of collapse, on Tuesday unveiled a six-year strategy to boost sales abroad and exploit technological advances.
Britain’s impending referendum over its EU membership has turned into a battle of the myth-busters. Whenever the Remain campaign makes a claim about the economic risks of leaving the EU, the Leave supporters shoot holes in it. The Remain people dismember claims from their opponents with just as much glee. Yet one myth seems to have been allowed to go unchallenged by either side, presumably because it serves the purposes of both.
The Daily Mail
A teacher claims Kwik Fit mechanics tried to charge her £360 for a simple puncture repair that later cost just £11 because she is a woman. Susie Henderson, 32, took her Renault Clio to a garage in Milngavie, Glasgow, to get the driver’s side front tyre repaired after suffering a slow puncture. The ‘disgusted’ mother-of-one claims the mechanics rang half an hour later to say that the puncture couldn’t be fixed and that all four tyres would also have to be replaced – at a cost of £360.
Women are driving the radical new ‘She-Type’ Jaguar roaring into the record books with one in three advance orders now coming from female customers, car bosses have revealed. Jaguar bosses say the female-factor means their new F-Pace – the firm’s first ever 4X4 ‘crossover’ vehicle which is officially launched today – is already the fastest selling Jaguar in history and is now predicted to be ‘the biggest selling Jaguar ever’. Even before the first models hit UK showrooms later this month (April 18) it, has already attracted 25,000 advance orders world-wide of which around one in 10 are in the UK.