Stelios Haji-Ioannou, the founder of budget airline easyJet, is launching an individual savings account (ISA) product in Britain under a new easyMoney brand, aiming to win business by offering better interest rates than banks.
Britain’s government and regulators are encouraging more banking start-ups to take on the “Big Four” banks that dominated high street lending, namely HSBC, RBS, Lloyds and Barclays.
ISA savings accounts are tax free.
The easyMoney individual savings account aims to offer investors a 4.05 per cent annual interest rate, compared to other similar easy-access cash ISAs which offer 1.21 per cent interest. The returns are not guaranteed.
“Everyday investors in the UK have gone almost a decade without real interest rates,” Stelios said. “With the easyMoney Innovative Finance ISA, we’re offering something new and taking on the big boys.”
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Cash invested in the easyMoney ISA will be put into loans secured against British property, easyMoney said. That could make the ISA riskier than some bank offerings, where cash is typically put into stock and bond portfolios.
“The inflation-busting interest rates we target are streets ahead of anything the banks could contemplate,” easyMonday, chief executive Andrew de Candole said.
Mr Stelios, 51, the son of a shipping magnate, also owns the easyHotel, easyBus, easyCar, easyProperty, easyOffice, easyFoodstore, easyCoffee and easyGym brands through his private investment vehicle, easyGroup, based in Monaco and London.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
A State of Passion
Directors: Carol Mansour and Muna Khalidi
Stars: Dr Ghassan Abu-Sittah
Rating: 4/5
Copa del Rey
Barcelona v Real Madrid
Semi-final, first leg
Wednesday (midnight UAE)
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Key products and UAE prices
iPhone XS
With a 5.8-inch screen, it will be an advance version of the iPhone X. It will be dual sim and comes with better battery life, a faster processor and better camera. A new gold colour will be available.
Price: Dh4,229
iPhone XS Max
It is expected to be a grander version of the iPhone X with a 6.5-inch screen; an inch bigger than the screen of the iPhone 8 Plus.
Price: Dh4,649
iPhone XR
A low-cost version of the iPhone X with a 6.1-inch screen, it is expected to attract mass attention. According to industry experts, it is likely to have aluminium edges instead of stainless steel.
Price: Dh3,179
Apple Watch Series 4
More comprehensive health device with edge-to-edge displays that are more than 30 per cent bigger than displays on current models.
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Top goalscorers in Europe
34 goals - Robert Lewandowski (68 points)
34 - Ciro Immobile (68)
31 - Cristiano Ronaldo (62)
28 - Timo Werner (56)
25 - Lionel Messi (50)
*29 - Erling Haaland (50)
23 - Romelu Lukaku (46)
23 - Jamie Vardy (46)
*NOTE: Haaland's goals for Salzburg count for 1.5 points per goal. Goals for Dortmund count for two points per goal.
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
PFA Premier League team of 2018-19
Allison (Liverpool)
Trent Alexander-Arnold (Liverpool)
Virgil van Dijk (Liverpool)
Aymeric Laporte (Manchester City)
Andrew Robertson (Liverpool)
Paul Pogba (Manchester United)
Fernandinho (Manchester City)
Bernardo Silva (Manchester City)
Raheem Sterling (Manchester City)
Sergio Aguero (Manchester City)
Sadio Mane (Liverpool)
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
MATCH INFO
Championship play-offs, second legs:
Aston Villa 0
Middlesbrough 0
(Aston Villa advance 1-0 on aggregate)
Fulham 2
Sessegnon (47'), Odoi (66')
Derby County 0
(Fulham advance 2-1 on aggregate)
Final
Saturday, May 26, Wembley. Kick off 8pm (UAE)
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
