June 29, 2007

Most equities markets end week in gains

by Elaine Frei
Most equities markets were higher in the Asia-Pacific region on Friday. The Hang Seng index in Hong Kong dropped 0.75 percent to 21,772.73, but otherwise the markets saw gains. In Australia, the Sydney Ordinaries added 0.21 percent to 6,310.6. The Straits Times index in Singapore gained 0.8 percent to 3,548.2, while in India the Sensex was 1.01 ...

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UK mortgage approvals up in May

by Elaine Frei
According to new data from the Bank of England, mortgage approvals were up in May with 114,000 loans agreed but not yet made during the month. This was substantially above the expected number of 105,000 loans approved as well as higher than the 109,000 loans approved in April. It was the first time since January that the number of ...

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UK household savings lowest since 1960

by Elaine Frei
The Office of National Statistics has reported that household saving in the UK has dropped to 2.1 percent in the first quarter of 2007. That level of saving is the lowest recorded since 1960. This was a decline from the fourth quarter of 2006, when the household saving ratio was at 3.9 percent. The household saving ratio is ...

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June 28, 2007

Equities markets see gains after early-week declines

by Elaine Frei
Equities markets around the world saw gains on Thursday. In the Asia-Pacific region, the Sensex added 0.51 percent to 14,504.57. The Straits Times index in Singapore gained 0.64 percent to 3,538.23, while the Hang Seng index added 1.07 percent to 21,938.22 in Hong Kong. The Sydney Ordinaries gained 1.3 percent to 6,297.4. Tokyo was up as ...

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Nationwide: House prices up 1.1 percent in June

by Elaine Frei
According to a new survey from Nationwide, house prices grew by 1.1 percent in June, more of an advance than had been expected. The new numbers show that prices are going up twice as rapidly as they were last year and are £18,000 higher than they were this time last year to an average of £184,000. The ...

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Website: Job titles make a difference in car insurance premiums

by Elaine Frei
How do you describe your job when you fill out a form? According to insurance comparison site confused.com, how you describe what you do for a living can affect how much you pay for car insurance. Although this sounds like a trivial thing, just one space on an application form, the managing director of the website says ...

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June 27, 2007

Most global equities markets lower on session

by Elaine Frei
Asia-Pacific equities markets were lower on Wednesday, with some seeing significant declines. In Australia, the Sydney Ordinaries dropped 1.9 percent to 6,216.6, while the S&P/ASX 200 also lost nearly 2 percent to close at 6,184.2. The Straits Times index dropped even more than that, falling 2.89 percent to 3,499.21. In Hong Kong the Hang Seng index was ...

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Bank of England official: Interest rates too low

by Elaine Frei
A deputy governor of the Bank of England has said that interest rates in the UK are too low. In explaining why he voted for a rate increase at the last meeting of the Bank’s Monetary Policy Committee, Sir John Gieve said that he “was not convinced” that demand for credit would be kept to a sustainable level ...

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Some credit card late charges exceeding OFT cap

by Elaine Frei
Despite a recent cap imposed by the Office of Fair Trading on the amount that credit card companies can charge customers for late payments, price comparison website moneysupermarket.com is reporting that many credit card providers are exploiting a loophole that allows them to collect more than the £12 maximum allowed per late payment. By charging interest on the ...

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June 26, 2007

Europe, most Asia-Pacific markets lower on session

by Elaine Frei
Most Asia-Pacific equities markets saw losses on Tuesday. Only the Sensex and Tokyo’s Topix index were higher on the session, and the Sensex only added 0.09 percent to 14,501.08. In Hong Kong, the Hang Seng index was 0.09 percent lower to 21,803.57. The Sydney Ordinaries dropped 0.33 percent to 5,337.3 in Australia. The Straits Times index ...

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FSA to begin regulation of travel insurance sold with packages

by Elaine Frei
Beginning in 2009 the Financial Services Authority will regulate travel insurance sold as a package with airline flights and holidays, along with the stand-alone travel insurance that it already regulates. Criticisms that the package insurance is too costly and doesn’t cover travelers adequately led to an investigation by Treasury. The inquiry found that up to ...

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OFT considering credit card confusion

by Elaine Frei
The Office of Fair Trading has said it is “working on” the problem of confusing credit cards. The OFT’s chief executive said that it is working to improve how pricing information can be improved without hurting competition between card providers or limiting innovations that benefit cardholders. The goal is to enable cardholders to make more informed decisions about their credit ...

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June 25, 2007

Asian markets mixed

by Elaine Frei
Most Asia-Pacific equities markets saw declines on Monday. The main exception was the Taiex index in Taiwan, which added 1.4 percent to 8,939.19, a seven-year high. The Sensex was also higher in India, gaining 0.14 percent to 14,487.72. The region’s big loser was the Shanghai Composite, which dropped 3.7 percent to 3,941.08. Elsewhere, the Sydney Ordinaries was down 0.79 ...

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Call for end to tax break for buy-to-let owners

by Elaine Frei
In order to avoid what it calls a “crisis” in affordable housing in the UK, the Chartered Institute of Housing has called for changes in the tax laws that will mean less of an incentive for buying property to rent out to others. The Institute says that at least part of the reason why housing is less ...

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AA: Car insurance premiums likely to rise

by Elaine Frei
Motorists must be prepared for car insurance premiums to go higher sooner rather than later, according to the Automobile Association. However, says the AA’s public relations manager, it can still pay to look for the best deal as new providers enter the market and offer discounts in an effort to gain customers. While the AA;s British Insurance Premium ...

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June 22, 2007

European equities markets in losses

by Elaine Frei
Asia-Pacific equities were mixed again on Friday. Gains came in Australia, where the Sydney Ordinaries added 0.12 percent to 6,409.3, and in Hong Kong with the Hang Seng index 0.21 percent higher to 21,999.91. Decliners included India’s Sensex, which dropped 0.22 percent to 14,467.36. The Straits Times index in Singapore was 5.3 percent lower to 3,615.38. In Tokyo, the Nikkei ...

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Report: More missing personal loan repayments

by Elaine Frei
A new survey from consumer website MoneyExpert indicates that more people are missing monthly repayments on personal loans, risking serious debt. The report shows that nearly 250,000 people per month have missed monthly payments in the past six months - a total of 1,389,000 payments, or three percent of all loan repayments due during that time period. The problem ...

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OFT to look at homebuilders

by Elaine Frei
Complaints about issues such as lack of housing supply has spurred the Office of Fair Trading to launch an inquiry into the UK’s house building sector. The investigation is slated to look at issues such as planning and customer satisfaction, as well as competition and regulation within the industry. The OFT has been keeping an eye on the sector since the release ...

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June 21, 2007

Asia-Pacific equities mixed

by Elaine Frei
Equities markets in the Asia-Pacific region were mixed on Thursday. The Straits Times index in Singapore dropped 0.11 percent to 3,633.88, while the Sydney Ordinaries fell 0.31 percent to 6,401.5. In Seoul, however, the Kospi index added 0.6 percent to 1,794.24, while the Sensex gained 0.61 percent, to 14,499.24. The Taiex index in Taiwan was 1.1 percent higher to 8,851.99. ...

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Bank of England wants to see more £5 notes in circulation

by Elaine Frei
How long has it been since you’ve seen a £5 note? Probably too long, according to the Bank of England. The Bank says that it currently has £1 billion worth of the £5 notes in its vaults. Meanwhile, the £5 notes in circulation are dirty and in poor condition because they have been out there ...

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