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July 31, 2007
by Elaine Frei
European markets were significantly higher on the session Tuesday as they attempted to recover from last week’s declines. The FTSE Eurofirst 300 added 2.01 percent to 1,548.24. The Dax was 1.71 percent higher to 7,584.14 in Frankfurt, while the Paris CAC-40 gained 1.85 percent to 5,751.08 and Madrid’s IBEX jumped 2.03 percent to 14,802.4. There were also substantial ...
by Stewart Douglas
Industrial output in the Japanese economy has seen a rare increase in June, according to a survey released today by the Ministry of Economy, Trade and Industry.
The survey shows an increase in output from Japanese industry over the month of June, whilst casting predictions as to the near future growth of Japanese industry.
Over the month of June output has risen by 1.2%, ...
by Stewart Douglas
The Indian Central Bank has today announced measures designed to curb inflation in one of the world’s fastest growing economies.
India has experienced exceptional economic growth over the last few years, prompting fears amongst analysts that inflation may continue to get out of hand and devalue the rupee.
The central bank has increased the cash reserve ration from 6.5% to 7%, attempting to reduce ...
by Stewart Douglas
The Bank of England are expected to announce their decision on interest rates later on this week, which affect the price of borrowing money on many mortgages and commercial loans.
The Bank of England, is expected to publicly announce its policy over the next month on Thursday - the same day news from the European Central Bank is anticipated.
It comes at a time ...
by Brian Turner
The UK faces extra inflationary pressures, and further interest rate rises, later in the year, due to a combination of flood damage to crops and increasing fuel prices.
The severe flooding across June and July has seriously damaged the UK's farming production, with extensive damage to crops such as potatoes, peas, sprouts, wheat, barley and various garden vegetables.
According to farmers, this has seriously ...
by Kay Murchie
The Dutch bank, ABN Amro, has rejected Barclays bid, it has also turned down a higher rival bid by a consortium led by Royal Bank of Scotland (RBS).
The Barclays bid, which is mostly in shares was worth €63.9 billion last Friday and the Dutch bank had previously been in favour of this offer. The RBS offer was worth €70.5 ...
by Kay Murchie
Lloyds TSB has allegedly been overcharging customers £300 million a year and is reported to be instructing staff to reject first-time claims, even if they are genuine.
The bank has been portrayed as cynical in press reports about some of the techniques it has used to avoid refunding unfair bank charges to its customers.
Details that have been revealed to the press also ...
by Kay Murchie
According to Insurancewide.com, the insurance comparison website, drivers are risking an unnecessary fine if they do not have a copy of their insurance certificate in the car.
Within 10 days of purchasing car insurance, an insurer is required to submit insurance details to the Motor Insurance Database. However, this didn’t happen with one Direct Line customer following a system error.
A spokesperson for ...
by Gill Montia
HBOS, the UK's largest mortgage lender, will no longer be saddling new mortgage borrowers with a £225 exit administration fee.
The move is in response to a deadline set by the Financial Services Authority (FSA), which has been reviewing exit fees after complaints from MPs and consumer groups.
Some banks and building societies have been increasing the charge during the term of a mortgage ...
by Gill Montia
The credit rating agency, Fitch, believes that UK house prices are at least 20% overvalued when compared with their long term average.
Fitch specialises in judging the level of risk attached to debt and has based its opinion on the widening gap between house affordability and income, over the past 10 years.
The agency surveyed 16 countries and found UK house prices to ...
July 30, 2007
by Elaine Frei
Most Asia-Pacific equities markets saw gains on Monday. The Nikkei 225 was fractionally higher, adding 5.49 points to 17,289.3, while the Topix index gained 1.4 percent to 1,705.71. The Mothers market of small and mid-cap stocks was 1.63 percent higher to 852.93. Elsewhere in the region the Sensex was up 0.17 percent to 15,260.91, while in Australia the Sydney Ordinaries ...
by Kay Murchie
U K Facilities, the national wholesale insurance broker, has expanded its offering by launching UKFOnline, a commercial comparative online website.
The Managing Director of U K Facilities commented that this product complements their traditional approach to wholesaling, which has been re-branded UKFUnderwriting.
The MD added that agents can now attain real time online quotes from up to 10 insurers, if the risk profile does ...
by Gill Montia
Research from The Money Centre, one of the UK’s largest specialist buy-to-let mortgage brokers, indicates that despite several increases in the Bank of England base rate, landlords in the buy-to-let sector are optimistic about their investments.
The research shows that 73% of landlords surveyed see the overall prospects for their investment as ‘very good’ or ‘good’. A survey earlier this year produced a ...
by Kay Murchie
The British Banking Association (BBA) has claimed that online banking is attractive to many due to the freedom it gives them from their local branch.
Favourable interest rates and ease of access were named as the reasons why many are switching to this method.
A spokesperson for the BBA said that some people like to pay their bills during the night and they like the ...
by Gill Montia
There have been a number of reports in the press about unscrupulous sale-and-rent back firms offering an alternative to equity release.
Elderly people are advised to view approaches from such firms with caution because growing numbers of sale-and-rent back companies are targeting asset-rich but cash-poor pensioners.
They offer to purchase homes at below market value and rent them back to the former owners.
However, in ...
July 27, 2007
by Elaine Frei
Asia-Pacific equities markets were lower on Friday. Taiwan’s Taiex index dropped 4.22 percent to 9,162.28. South Korea’s Kospi index fell 4.09 percent to 1,883.22. The Sensex declined 3.43 percent to 15,234.57. In Australia, the S&P/ASX200 fell 2.81 percent to 6,082.9, while the Sydney Ordinaries dropped 2.76 percent to 6,127.3. In Hong Kong, the Hang Seng index also ...
by Kay Murchie
A recent survey by Scottish Widows, the investment consultants, established there is a shortage of knowledge among the general public when it comes to savings and investments and the group are anxious that nearly 40% of people in the UK do not have a nest egg for the near future.
The Investment Management Association (IMA) is urging potential savers to ...
by Kay Murchie
Xbroker is a division of Moorhouse Group (one of the UK’s leading commercial insurance providers) and offers specialist branded products to HSBC Spectrum. Xbroker began through a strategic alliance between Moorhouse Group and HSBC that facilitates Xbroker to sell products to brokers registered with HSBC. HSBC then guarantees the broker’s accounts for any payment due to Xbroker. HSBC have recently ...
by Kay Murchie
According to Standard Life, research shows that life insurance has never been cheaper despite 50% of UK adult’s having insufficient cover in place.
Standard Life commented that people should ensure the cover they have is sufficient for their family. For those who do not have cover, now is the best time to set up some financial protection.
Following ...
by Gill Montia
The Nationwide Building Society has published data showing that in July 2007 house prices rose by their smallest amount in more than a year.
The 0.1% increase during the month, which is the lowest since April 2006, takes the annual house price inflation rate down to 9.9%.
The increase fell short of analysts' predictions of a 0.5% rise on the month, which ...
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European markets were significantly higher on the session Tuesday as they attempted to recover from last week’s declines. The FTSE Eurofirst 300 added 2.01 percent to 1,548.24. The Dax was 1.71 percent higher to 7,584.14 in Frankfurt, while the Paris CAC-40 gained 1.85 percent to 5,751.08 and Madrid’s IBEX jumped 2.03 percent to 14,802.4. There were also substantial ...
Most Asia-Pacific equities markets saw gains on Monday. The Nikkei 225 was fractionally higher, adding 5.49 points to 17,289.3, while the Topix index gained 1.4 percent to 1,705.71. The Mothers market of small and mid-cap stocks was 1.63 percent higher to 852.93. Elsewhere in the region the Sensex was up 0.17 percent to 15,260.91, while in Australia the Sydney Ordinaries ...
