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Love may move mountains, but money can crumble the strongest marriage. A good way to head off problems is to discuss financial issues before the ceremony.


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Swiss investment bank UBS has announced that John F. Bradley has joined the firm as group head of Human Resources.
The appointment is made with immediate effect, and Bradley is now based in Zurich.
He brings with him extensive banking experience, and spent more than a quarter of a century with JP Morgan Chase & Co., latterly as global head of Human Resources.
The incumbent group head of Human Resources with UBS, Gery Brüderlin, is to remain with the firm and will work alongside Bradley during the transition period.
Group Chief Operating Officer Ulrich Körner has welco
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med the appointment and the leadership experience in the field of HR Bradley brings with him.
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Halifax and Bank of Scotland are introducing new charges for current account customers and withdrawing interest payment on accounts that are in credit.
From 6th December, the banks will apply flat charges of £1 per day for agreed overdrafts of up to £2,500 and £2 a day for agreements over £2,500.
For those with unarranged overdrafts, the cost of going into the red jumps to £5 per day.
The new structure brings charges in line with Halifax’s Reward current account, launched earlier this year, which the bank claims customers find clear and easy to understand.
Howeve
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r, a customer overdrawn by £10 for a day will be charged £1, or the equivalent to an annual interest rate of 3,650%.
According to consumer website, MoneySavingExpert.com, account holders who regularly exceed their overdraft limits will benefit most from the changes, possibly paying hundreds of pounds less in charges over a year.
At the same time, those who regularly exceed their limits by a small amount will lose out.
The new regime excludes the Halifax student account and its Easycash and Cardcash customers.
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Employers are offering big incentives to steer workers into insurance plans that can save the company a lot of money, but what is the best fit for you?


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The Financial Services Authority (FSA) has published proposals aimed at tackling the dangers of banks becoming too-big-to-fail, too-interconnected-to-fail, or even too-big-to-rescue.
The regulator wants to see systemically important banks produce recovery and resolution plans (”living wills”) which set out how operations would be resolved in an orderly fashion.
The plans would undergo scrutiny by the regulator and “serious obstacles to resolution” could require restructuring, including “clear separation between retail deposit taking business and business
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es involved in proprietary trading activities”.
The discussion paper includes a range of other policy options, including the creation of “narrow banks” and applying some form of capital (and perhaps liquidity) surcharge internationally for systemically important banks.
FSA chairman, Lord Turner, says: “The FSA has to reduce the danger that authorities in future will be faced with only one option – using public funds to rescue whole groups with only equity holders suffering loss.”
His comments follow concerns raised by the Governor of the Bank of England earlier this week.
Speaking to meeting of Scottish business representative, Mervy King challenged the view that regulation and bigger capital buffers could replace “real” reform in the UK banking sector.
Mr King made it clear that he believes taxpayer support should be reserved for retail banking operations, such as the protection of consumer deposits.
Summing up, he said: “Anyone who proposed giving government guarantees to retail depositors and other creditors, and then suggested that such funding could be used to finance highly risky and speculative activities, would be thought rather unworldly. But that is where we now are.”
The deadline for responses to the FSA discussion paper is 1st February 2010.
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The average annual cost of tuition and fees at four-year public colleges rose 6.5 percent from last year, to $7,020, the report said.


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Wells Fargo has announced that Q3 saw it achieve its third consecutive quarter of record earnings, with net income soaring by 98% to $3.2bn.
For the first nine months of the year net income stands at $9.5bn, up 75% compared to the same period in 2008.
Diluted earnings per common share rose by 14% to $0.56.
Earnings before taxes and provisions were $10.8bn, and revenue equalled the record level of Q2 at $22.5bn.
The integration of Wachovia into Wells Fargo continues, with the estimated expenses of the process reduced from $7.9bn to $5.5bn.
President and CEO John Stumpf
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has stated that the merger with Wachovia is surpassing expectations, with the costs involved substantially less than had been forecast.
With the reporting season well underway the trend seems to be positive, with both Goldman Sachs and JPMorgan Chase recording profits in excess of $3bn.
However, Citigroup enjoyed more modest profits, and Bank of America incurred a $1bn loss, an indicator that whilst the recovery from the financial crisis has begun, it has yet to finish.
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A big concern among the wealthy is that populist anger might translate into tax-the-rich legislation, advisers say.


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Clydesdale Bank’s new world heritage bank notes entered circulation yesterday, with the new £20 notes available from retail branches and most ATMs from 10am.
The bank notes will feature Robert the Bruce one side, and the historic mill house New Lanark on the other.
The remaining notes will gradually enter circulation over the remainder of year, beginning with the £50 note, then the £5 and the £10, with a £100 note coming out in mid-December.
Each note will feature a prominant Scottish individual, whilst depicting one of the country’s five world heritage sites on the
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other side.
Clydesdale Bank’s CEO Lynne Peacock has stated that the firm has issued bank notes for over 170 years, and expressed her pleasure at the release of the new world heritage notes.
In June the Governor of the Bank of England, Mervyn King, announced that new English £50 notes would feature businessman Matthew Boulton and engineer James Watt, starting in a year and a half.
The change follows the introduction of Adam Smith, who replaced Sir Edward Elgar on the £20 note.
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Would you be willing to give away 1 percent of your home’s value if it meant not having to worry about losing more?


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