FYT WEEKLY NEWS - 5TH AUGUST



THE POUND HITS FRESH TWO YEAR LOW (+ WHAT IT MEANS FOR YOUR HOLIDAY)


The pound has fallen further against the US dollar as the UK government says they’re prepared to leave the EU without a deal.




£1 = $1.2120


Why?


Boris Johnson has toughened the government’s stance on a no-deal Brexit. Michael Gove says they are ‘working on the assumption’ of a no-deal.


Brexiteers argue it's important for negotiations that no-deal remains on the table.


No-deal could weaken the UK economy making the pound less attractive.



What it means for you


The cost of holidays abroad may go up. The pound buys less when you're on holiday.


Buying euros at the airport: expect to receive as little as 97 euro cents for a £.


summer of 2015 summer of 2019

£1 = €1.32 £1 = €1.066



How to get more currency for your £££?


  1. Never buy currency at the airport where rates are at their worst.

  2. For cash, always buy in advance - The Post Office offers a sliding scale depending on how much you order.

  3. Check out pre-loaded currency cards/banks which offer good exchange rates - use websites like moneysupermarket.com to shop around.


LIDL'S WAITROSE TAKEOVER CAUSES FEAR FOR HOUSE PRICES



Lidl has replaced three Waitrose stores causing some homeowners to fear that it will damage house prices.


The leases of the following stores have been taken over by Lidl:


Bromley - Oadby - Wollaton


The Waitrose Effect:


A 2018 report by Lloyds Bank found that homes near a Waitrose sell for

12% more than the average house prices in the area....


However, the research also suggests that fears over Lidl devaluing property are unfounded.


In the last four years.....


Properties near Aldi/Lidl Properties near other supermarkets up 15 % up 10 %



Housing market analyst Neal Hudson said the supermarket switch was unlikely to make a difference to house prices.


Clare Bailey, a retail expert, said:


“What we’re seeing is a shift away from premium priced food retail and an appetite for discount retail despite the fact that the experience isn’t as good.”


KYLIE JENNER FACES BACKLASH OVER ‘MONEY' MAKE UP


The 22 year old, recently crowned the youngest-ever billionaire, announced her new ‘money’ make up collection on Thursday.


The range includes products such as lip gloss and eyeliner emblazoned with dollar signs and $100 bills. Product names included “Money ain’t everything” and “Work for it”.

⬇️ ⬇️


Critics described the line as ‘tone deaf’… and called on the star to donate some of her money.


She has since announced that she plans to 'give back' and is working with a 'special person' on the collection.


SELF MADE?


She also faced criticism after being described as the world's youngest 'self made billionaire' a title that some have described as inaccurate.



🤷‍♀️


However, there were plenty of fans excited by the collection...




OTHER NEWS


Bristol Uni spent £20k renaming Senate House - to Senate House. Students rejected the name ‘Housey McHouseface’


A new Polish law will scrap income tax for roughly 2 million young workers.


In case you missed it...two big things were launched on the website last week


Investing masterclass - a interactive guide to investing for beginners


Comparison tool - Compare simple investing platforms, Lifetime ISAS, Stocks & Shares ISAs & more

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