This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/programmes/moneybox/7928614.stm
The article has changed 12 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Treasury takes 65% Lloyds stake | |
| (40 minutes later) | |
| BBC Radio 4's Money BoxSaturday, 7 March 2009at 1204 GMTOn Radio 4 and Online | BBC Radio 4's Money BoxSaturday, 7 March 2009at 1204 GMTOn Radio 4 and Online |
| The government has announced it is taking a majority stake in Lloyds Banking Group, committing to lending an extra £28bn. | |
| In effect this means taxpayers now own half the country's major banks. | |
| LloydsTSB, Halifax, Bank of Scotland, Royal Bank of Scotland, Natwest and Northern Rock are all now owned by the state. | |
| We discuss the implications for you. | |
| Related stories / further information: Treasury takes 65% Lloyds stake | |
| Bank begins quantitative easing | |
| The Bank of England's Monetary Policy Committee did what everyone expected on 5 March and dropped interest rates by another half point. | The Bank of England's Monetary Policy Committee did what everyone expected on 5 March and dropped interest rates by another half point. |
| Official rates are now a mere 0.5% - the lowest in the Bank's 315 year history. | Official rates are now a mere 0.5% - the lowest in the Bank's 315 year history. |
| But it did something else too - it released £75bn of cash for quantitative easing. | But it did something else too - it released £75bn of cash for quantitative easing. |
| So what exactly is quantitative easing and will it have the desired effect? | So what exactly is quantitative easing and will it have the desired effect? |
| Further information/related stories: UK interest rates lowered to 0.5%Q&A: Quantitative easingBank steps into unknown territoryExternal internet links | Further information/related stories: UK interest rates lowered to 0.5%Q&A: Quantitative easingBank steps into unknown territoryExternal internet links |
| Savings and bonds We examine the implications for your savings | Savings and bonds We examine the implications for your savings |
| What does the interest rate cut mean for savers? | What does the interest rate cut mean for savers? |
| According to official figures, a staggering £2.3bn was withdrawn from bank deposit accounts in January; £390m was withdrawn from building society accounts. | According to official figures, a staggering £2.3bn was withdrawn from bank deposit accounts in January; £390m was withdrawn from building society accounts. |
| One of the things people have been doing is switching into corporate bonds - with £1bn being ploughed into them in January. | One of the things people have been doing is switching into corporate bonds - with £1bn being ploughed into them in January. |
| A corporate bond is effectively an IOU issued by companies on which they pay interest and when they mature, return the capital. | A corporate bond is effectively an IOU issued by companies on which they pay interest and when they mature, return the capital. |
| But crucially if the company goes bust an investor can lose everything. | But crucially if the company goes bust an investor can lose everything. |
| Kevin Mountford of moneysupermaket.com joins us to discuss what is on offer. | Kevin Mountford of moneysupermaket.com joins us to discuss what is on offer. |
| Further information/related stories: What now for borrowers and savers?Anger at rate cut blow to saversMoney Box Live: ISAs & tax free savingsExternal internet links | Further information/related stories: What now for borrowers and savers?Anger at rate cut blow to saversMoney Box Live: ISAs & tax free savingsExternal internet links |
| Airline compensation The leisure group collapsed leaving customers out of pocket | Airline compensation The leisure group collapsed leaving customers out of pocket |
| Thousands of people are still waiting for compensation following the collapse of leisure group XL last September. | Thousands of people are still waiting for compensation following the collapse of leisure group XL last September. |
| Most customers who booked through an ATOL travel agent believed getting their cash back would be straightforward. | Most customers who booked through an ATOL travel agent believed getting their cash back would be straightforward. |
| But anyone who paid on a credit card - even if it was just the deposit - has been told an appeal to their bank is the only way they may get recompense. | But anyone who paid on a credit card - even if it was just the deposit - has been told an appeal to their bank is the only way they may get recompense. |
| Bob Howard reports. | Bob Howard reports. |
| Further information/related stories: September 2008: Thousands stranded by XL collapseExternal internet links | Further information/related stories: September 2008: Thousands stranded by XL collapseExternal internet links |
| Customers face a fee from 6 MayOverseas card use | Customers face a fee from 6 MayOverseas card use |
| Customers of Nationwide will soon be charged a fee for using their cards outside of Europe. | Customers of Nationwide will soon be charged a fee for using their cards outside of Europe. |
| Until now Nationwide has absorbed the fee levied by Visa - but that is all about to change. | Until now Nationwide has absorbed the fee levied by Visa - but that is all about to change. |
| We speak to Martyn Hocking, Editor of Which? about the development. | We speak to Martyn Hocking, Editor of Which? about the development. |
| Further information/related stories: Charges for using cards overseasExternal internet links | Further information/related stories: Charges for using cards overseasExternal internet links |
| BBC Radio 4's Money Box will be broadcast on Saturday, 7 March 2009 at 1204 GMT. | |
| The programme will be repeated on Sunday 8 March 2009 at 2102 GMT. |