The latest updates on consumer and personal finance changes are highlighted in The Mirror’s new Money blog. Savings rates have dropped to 3.35% in January, the lowest since May 2023, as per Moneyfacts data. Tesco has introduced a Clubcard update allowing customers to triple their vouchers’ value at selected restaurants like ASK Italian, Bella Italia, and others.
Which? has ranked energy suppliers, with Scottish Power at the bottom due to poor complaints handling. E, a lesser-known supplier, scored 79%. The imposition of new tariffs on US imports by the President has raised concerns for UK exporters facing increased costs, potentially leading to job cuts.
According to Moneyfacts, savings rates are on a decline, with easy access ISA rates at 2.69% and average one-year fixed rates at 3.85%. Many households heavily rely on the state pension for income, with around 740,000 single retirees and 500,000 retired couples depending mainly on it.
Regen Central Ltd, a travel agency, has gone bankrupt, canceling all bookings. The firm, operating under various names, sold holiday packages to Europe and Southeast Asia. The FTSE 100 experienced a drop following President Trump’s tariff threats on US imports, impacting stock markets and pension funds.
Tesco has launched a new offer allowing Clubcard members to triple their points at selected restaurants. Caldwell Construction Limited has entered administration, risking over 400 jobs. The housing market has seen a record increase in prices, with the average home price rising by nearly £9,900 to £368,031 in January, the largest spike since June 2015.