Unhappy New Year - This is Money Show

This is Money Podcast

This is Money

Business, Investing, Business News, News

4.4 • 735 Ratings

🗓️ 8 January 2016

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

2016 is going well - but only if you live in Leicester.

One week in, and the new year money news seems to be competing with the weather in terms of gloominess.

Luckily we have the most upbeat and entertaining trio in financial broadcasting, Simon Lambert, Lee Boyce and Georgie Frost, taking a fun look at what's been happening over the last seven days – however grim it is.

China is panicking. And when China panics, the Chinese government shuts its markets. That makes Chinese investors panic even more and then the whole world joins in. Share prices have been plummeting.

As big British chain stores start to reveal their Christmas trading figures, Marks & Spencer, which for some people IS Christmas, reveals it had a less than festive time of it.

A couple who saved really hard for a deposit, stamp duty and fees for their dream home transferred the £45,000 to the solicitor days before the move – but the transfer was intercepted by crooks and they lost it.

This is Money Editor Simon Lambert bravely outs himself as a recidivist Lotto loser dumping cash for decades into an investment that has less chance of coming good than he has of watching the opening night of Elvis Presley’s tour of the Moon.

There was some upbeat news. It has emerged that not all banks are bad all of the time – at least in terms of current accounts. You would do well to listen to the segment on the best banks for your day-to-day money affairs.

And two people won £1million each on the Premium Bonds. They both live in Leicester. It’s a fix! Or is it?

Email us hello@dmgmedia.co.uk

Text us 020 7938 6000.

Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen Crane

Producer: Georgie Frost

Hosted on Acast. See acast.com/privacy for more information.

Transcript

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0:00.0	This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings.
0:16.3	A very warm welcome to the first. This Is Money and Share Radio podcast of 2016.
0:21.8	A very happy new year, everyone.
0:24.0	I'm Georgie Frost here with you on DAB online and through the Share Radio mobile app every weekday from 9 until 1, sharing ideas about money.
0:32.2	I'm joined today by editor Simon Lambert and Consumer Affairs editor Lee Boyce from the award-winning This Is Money
0:37.8	to talk through some of the stories on their website that they've been investigating
0:41.3	over the last seven days.
0:43.3	And the start of the new year, almost looked rather ominous.
0:46.3	Anyone who thinks it is mission accomplished with the British economy is making a grave mistake.
0:52.3	Investors, households and businesses are being warned of 12 months of
0:55.9	turmoil ahead. Global uncertainty, tensions in the Middle East. Oil prices continuing to tumble. North
1:01.7	Korea feeling rather left out of the global party. And yes, the madness on the Chinese stock
1:06.8	markets. What on earth is going on? Just how does it affect us here? I think as far as China is concerned, we call it normal trading.
1:13.5	I think you should expect volatility in places like China, simply because that is the way they operate.
1:19.6	Closer to home, it's hard enough for first-time buyers to get on the property ladder.
1:23.5	We take a look at a heartbreaking tale of one couple who had their £45,000 deposit stolen by email scammers.
1:30.6	Should law firms be encrypting their emails?
1:33.5	The woes also continue for our high street retailers, apart from perhaps John Lewis.
1:37.8	It hasn't been a very merry Christmas, certainly for NECS, Poundland and M&S, who've also lost their chief exec.
1:43.9	The expectation that Marks and Spencer resultsorts were going to follow a similar trend to the rest of the retail sector.
1:50.0	Actually, the results are pretty catastrophic for them.
1:53.0	Next up, it's the turn of the supermarkets to report their festive figures.
	...

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