Savings

Ex-Tesco boss known as ‘Drastic Dave’ for his cost-cutting zeal pledges more of the same at flagging Guinness ownerShares in Diageo have bounced after the Guinness owner’s chief executive, “Drastic Dave” Lewis, passed the first big test of his plan to revive the flagging fortunes of the UK-based drinks company.Lewis, a former Tesco boss known in the City for his cost-cutting zeal, promised to deliver $1bn of savings over two years through a “significant” restructuring aimed at making the company more agile. Continue reading...

Don’t delay in taking advantage of the competition that is pushing up interest rates and increasing choice, experts sayIt is shaping up to be a decent summer for savers as fierce competition among providers pushes up interest rates and increases choice.You can currently get instant- and easy-access accounts that pay up to 5% interest, and fixed-rate savings bonds that pay almost that much. Meanwhile, those looking for a regular savings account can now get up to 8%. Continue reading...

• Europe holds €37 trillion in savings, yet a significant portion fails to reach businesses due to a lack of integrated capital markets. • EU leadership views a comprehensive Capital Markets Union (CMU) as essential for competing with the US in strategic sectors, specifically AI and defense. • Despite this priority, member states remain reluctant to deepen integration, hindering the creation of a unified financial system.

• The BBC has announced plans to cut 550 jobs as the first phase of a broader £500 million savings initiative. • Initial proposals target 200 positions within the news division, as detailed in an email sent to staff. • Bectu union head Philippa Childs criticized the timing of the cuts, noting they coincide with the lead-up to the BBC's charter renewal.

• The U.S. Treasury announced on May 28, 2026, that it has launched the Trump Accounts app on nationwide app stores as the next step in rolling out Trump Accounts. • The program is designed to let users access the new accounts digitally, with Treasury describing the launch as part of the implementation process for the savings vehicle. • The rollout matters because it introduces a new federal consumer finance product that could affect families, retirement-style saving behavior, and related financial institutions.

The bank’s interim chief executive says ‘this issue should never have happened’, but warns it may take time to process claimsNational Savings and Investments bank will start to contact thousands of families affected by a missing savings scandal next week, as it confirmed how much they are owed.In March, the chief executive of the state-backed bank was forced out after it emerged there had been long-running problems with the tracing of accounts belonging to customers who had died. Continue reading...

Body says, on average, British women approaching retirement have half private pension savings of men – £81,000 versus £156,000A shake-up of pensions in Britain must involve measures to close the gap in retirement savings between men and women, the revived Pensions Commission is to tell ministers.According to the government-backed body, women approaching retirement have on average half the private pension savings of men, with a median pension wealth of £81,000 versus £156,000. Continue reading...