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Online and mobile banking 'helping young people save'

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Research from Halifax says 18-24 year-olds in Wales claim digital banking helps them to save.

It says more than six out of ten of those banking online put money aside for the future. For those using mobiles the figure's 60%.

Across the UK four out of five younger savers who use digital banking say it helps them to boost their balances,

This research tells us that online and mobile banking is actually helping a lot of young people to save.

It's clear that having easy real-time access to their savings balance, whether in their pocket or on their PC, is keeping saving front of mind.

This is great news if it means that young people are getting into good savings habits early in life.

– Giles Martin, head of Halifax Savings

Welsh house prices 'are expected to rise'

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Welsh house prices are expected to rise over the next three months despite a cooling off in demand after the introduction of stamp duty changes.

That's according to the latest survey from the Royal Institution of Chartered Surveyors (RICS).

Its longer term outlook suggests that prices will still be expected to rise by more than 4 per cent each year for the next five years.


Manufacturer investment 'means disposable income growth in Wales'

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Wales has dominated growth in disposable income compared with England over the past five years amid a recovery in manufacturing, according to a new report.

A study by accountancy firm UHY Hacker Young found households in Powys have 15.4% more spending money than five years ago, while those in Flintshire, Wrexham and south west Wales have over 14% more.

The report claims investment from large manufacturers based in Wales, including Toyota and Airbus, was partly responsible.

The leap in disposable income across Wales over the last five years pays credit to the hugely important role played by manufacturing in the region.

The Welsh manufacturing sector has grown from strength to strength and the subsequent rise in disposable income this has provoked ensures those areas of Wales worst affected by the recession have received a much needed boost.

– Elliott Buss, partner at UHY Hacker Young


New 12-sided pound coin starts production

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The new 12-sided £1 coin has gone into production a year before it starts to reach people's pockets.

The coins have started rolling off the production line at a rate of more than 4,000 a minute as Chancellor George Osborne announced they will enter circulation in March 2017.

When the new coin is introduced, there will be a six-month crossover period when the current round pound coins and the new pound coins are both in circulation.

I am delighted that the Royal Mint are now producing the most secure circulating coin anywhere in the world.

With ground-breaking technology, developed in Wales, the new coin will help secure our economy and get rid of counterfeits.

In a year's time, the new coin, which will incorporate emblems from all four of our home nations, will line millions of pockets and purses around the UK

– George Osborne, Chancellor of the Exchequer

Welsh foodbanks on the rise

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Wales now has 157 foodbanks which support people at risk of not being able to feed themselves and their families compared to 16 in 1998.

The new statistics (data collected July 2015) come from a research project by Bangor University Social Sciences PhD student David Beck.

The research says Wales had six independent food banks between 1998-2010. But this grew by 616% in the next five years to July 2015, when 43 independent food banks were traced.

The Trussell Trust is the biggest provider. Its seven food banks grew to 36 during the same period. The Trust had three satellite foodbanks through till 2010, and now has 78: a 2,500% increase.

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