Abbey National owner Santander has reported profits for the first six months of the year up by 6 percent compared with the same time last year.
If a one off figure was removed from the figures then the actual profit generated by Santander, best known in the UK as the owner of the Abbey National, would have been a much higher 22 percent. This figure is also higher than analysts had predicted, although shares still traded down slightly on the day.
Santander are very much a global business, with connections to most parts of the world. This enables them to find many more opportunities to create profitable business since they are not tied to just one market. However even the Abbey National delivered good results for them, something that could not always have been expected with the economic situation currently facing UK businesses.
The HSBC has been looking at the different university cities to see which ones will cost the most to live in.
Totally expected was the most expensive city which is London, where the average rent for student accommodation exceeds GBP100 per week. It proved to be miles ahead of any other city in the country, with the next closest being Plymouth, with an average weekly rent of GBP63. A spokeswoman from HSBC reminded students that living costs can make a massive difference to managing as a student, and with rent such an integral part of student life it is important not to get in to an agreement that is too costly to manage.
Other cities in the list included Birmingham and Nottingham, where rents averaged GBP60, and Leeds, Manchester and Preston, with average rents of GBP50. To help manage finances the HSBC offers a student account with credit card and interest free overdraft.
With the cost of living in the UK rising at a higher rate than it has for some considerable time the people of the UK are feeling the need to cut back on their spending.
A survey carried out by the Alliance and Leicester found that over half of those surveyed had already started cutting back on spending. One of the most popular steps taken to save money has been to change gas and electric suppliers. Around 20 percent of those surveyed have done this already. Behind that comes sourcing low or zero interest credit cards, enabling people to cut the amount they pay on their borrowings.
There will be more and more people looking at ways to cut back on their spending as costs keep rising, so being aware of areas where savings can be made can only be helpful. As an Alliance and Leicester spokesperson commented, it is sensible to look for the best offer in all areas of living, since a saving is a saving.
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