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August 31, 2007
by Elaine Frei
Global equities markets were higher on Friday in hopes that US President George W. Bush and Federal Reserve chairman Ben Bernanke would separately make remarks that would calm markets and shore up consumer confidence.
Asia-Pacific markets were higher on the session. The Shanghai Composite added 0.99 percent to 5,218.82. In Singapore, the Straits Times index gained 1.25 percent to 3,374.35, ...
by Kay Murchie
In the past, the majority of High Street banks (including HSBC), have allowed students an interest-free overdraft of around £1,500 to £2,000 for the first 2 years after they graduate. However, last month, HSBC became the first High Street bank to commence charging interest on such an account, at 9.9%.
This prompted a strong reaction from University graduates and a campaign called ...
by Kay Murchie
Nationwide has announced that 60% of parents have not made any additional payments into Child Trust Funds (CTFs) as the fifth anniversary since CTFs were introduced draws near. The Nationwide is disappointed that funds are not added to and is urging parents to make a monthly contribution – no matter how small. If this is achieved, the fund will ...
by Kay Murchie
Around 12 million Britons get into debt paying for their yearly holiday according to Experian and those that pay for holidays on their credit cards could end up paying an average of 17% - way after the sun tan has worn off.
Travel insurance company InsureandGo has established that the average UK holidaymaker spent just over £800 on holiday this year. ...
by Kay Murchie
Amlin plc, the specialist insurance and reinsurance underwriting group, has seen its profits rise in the first 6 months of 2007. Pre-tax profits increased 54% to a record £185 million. After removing the positive effect of a £28.6 million swing in the foreign exchange translation of net non-monetary liabilities relative to 2006, underlying profit rose by 25.3% to £179.7 million (H1 ...
by Gill Montia
The latest house price survey by the Nationwide Building Society reveals a slowing down of the market.
According to the survey, average house prices increased by 0.6% in the month of August, giving a fall in the annual rate of house price inflation to 9.6%, as compared with 9.9% in July.
This means that in August, a typical UK property cost an average of ...
August 30, 2007
by Elaine Frei
Wall Street was mixed in mid-afternoon trade on Thursday. Gains in the technology sector kept the Nasdaq Composite higher as it added 0.34 percent to 2,571.95, but the Dow Jones Industrial Average had fallen back from earlier gains to a decline of 0.16 percent to 13,267.91 while the S&P 500 was down 0.21 percent to 1,460.63.
Most Asia-Pacific equities markets were higher ...
by Brian Turner
A stark commentary by BBC radio business presenter Greg Wood suggests the real impacts of the subprime mortgage market will hit the stock market in September. And it won't be pretty.
The claim centers on the profit reports from investment banks, starting with Goldman Sachs and the rest following close behind. According to Standard & Poor, the expectation is 50% wiped from ...
by Kay Murchie
Abbey has introduced a new offer for its credit card customers and states that it will create a challenge to the Big Four banks (HSBC, Royal Bank of Scotland, Barclays and Lloyds TSB).
From September 3rd until the end of January, holders of the credit card will be able to claim 5% cashback on the first £1,000 spent at ...
by Kay Murchie
A survey conducted by The Institute of Insurance Brokers (IIB) members has indicated that over 20% of broker firms may be sold or merged in the next few years. The survey also highlights that 72% of independent broking firms think insurers buying into the industry will lead to unfair competition.
A spokesperson for the IIB stated that the ...
by Kay Murchie
Following the merger of Grant Thornton and RSM Robson Rhodes, the firm has created a new cross-discipline group known as the Financial Services Group. Grant Thornton declares that the creation will form a credible alternative to the Big 4 international accountancy and professional services firms namely PricewaterhouseCoopers, Deloittes, Ernst & Young, KPMG.
The new group will replace the ...
by Gill Montia
According to new research from Alliance & Leicester Mortgages' (A&L) movingimproving index, the plight of first-time buyers is such that parents are giving their offspring an average of £21,314 to help them buy their first home.
The figure is £3,500 higher than the 2006 average of £17,677 and in part, A&L attributes this change to an increase in the expectation that ...
by Gill Montia
According to John Charcol, the mortgage broker, there are signs that mortgage interest rates are stabilising and that the recent period of rate rises is drawing to a close.
This view is supported by the fact that most lenders fund mortgages by borrowing on the money markets, where rates are now beginning to drop.
In addition, economists are predicting that the Bank ...
August 29, 2007
by Elaine Frei
European markets were higher Wednesday after Tuesday’s losses. The FTSE Eurofirst 300 was up 0.47 percent to 1,497.28. In Frankfurt, the Dax gained 0.12 percent to 7,439.18. Madrid’s IBEX added 0.42 percent to 14,183.6, while the CAC-40 was up 0.84 percent to 5,520.02 in Paris. In London, the FTSE 100 was up 0.49 percent to 6,132.2 and ...
by Kay Murchie
In the past, the majority of High Street banks (including HSBC), have allowed students an interest-free overdraft of around £1,500 to £2,000 for the first 2 years after they graduate. However, last month, HSBC became the first High Street bank to commence charging interest on such an account, at 9.9%.
This has prompted a strong reaction from University graduates by its decision to ...
by Kay Murchie
Research by Sainsbury’s Bank has noted a change amongst savers who are taking advantage of high interest savings accounts. The bank highlighted that investors are opting for safety over returns due to the latest turmoil on the stock markets.
The bank defined “high interest” as a rate above 6% and the research showed that between August 6th and August 19th 2007, such savings ...
by Kay Murchie
Nationwide Building Society has announced that from 28 August, it has successfully merged with Portman Building Society. Nationwide will continue in its capacity as a mutual building society and, as a result of the merger, will become the UK’s second largest retail mortgage lender and second largest retail savings provider. Its member number is now around 13 million, while its assets now exceed ...
by Gill Montia
The British Bankers' Association (BBA) has published figures showing a slight decline in mortgage lending, during July.
The BBA reported 66,695 approvals for house purchases during the month, a figure down from 75,318 in June, and at its lowest in three months.
However, taking a seasonal view, the numbers were only slightly behind the 67,412 approvals for purchases in July of 2006. This suggests ...
August 28, 2007
by Elaine Frei
Asia-Pacific equities markets were mixed Tuesday. Among those indices seeing gains were the Taiex, which added 0.11 percent to 8,727.55 in Taiwan. India’s Sensex gained 0.52 percent to 14, 919.19, while the Shanghai Composite was up 0.87 percent to 5,194.69. In South Korea, the Kospi index was 1.46 percent higher to 1,829.31. Decliners included the Australian ...
by Kay Murchie
According to research from Cycleguard, the bicycle insurance provider, 40% of cyclists are exposed to the risks of theft, accident and third party liability by not protecting themselves with sufficient insurance.
The survey established that 9% of cyclists have specialist bicycle insurance while 50% depend on their home contents insurance to provide cover for their bikes. Cyclists are advised to contact their home ...
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Global equities markets were higher on Friday in hopes that US President George W. Bush and Federal Reserve chairman Ben Bernanke would separately make remarks that would calm markets and shore up consumer confidence.
Asia-Pacific markets were higher on the session. The Shanghai Composite added 0.99 percent to 5,218.82. In Singapore, the Straits Times index gained 1.25 percent to 3,374.35, ...
Wall Street was mixed in mid-afternoon trade on Thursday. Gains in the technology sector kept the Nasdaq Composite higher as it added 0.34 percent to 2,571.95, but the Dow Jones Industrial Average had fallen back from earlier gains to a decline of 0.16 percent to 13,267.91 while the S&P 500 was down 0.21 percent to 1,460.63.
Most Asia-Pacific equities markets were higher ...
European markets were higher Wednesday after Tuesday’s losses. The FTSE Eurofirst 300 was up 0.47 percent to 1,497.28. In Frankfurt, the Dax gained 0.12 percent to 7,439.18. Madrid’s IBEX added 0.42 percent to 14,183.6, while the CAC-40 was up 0.84 percent to 5,520.02 in Paris. In London, the FTSE 100 was up 0.49 percent to 6,132.2 and ...
Asia-Pacific equities markets were mixed Tuesday. Among those indices seeing gains were the Taiex, which added 0.11 percent to 8,727.55 in Taiwan. India’s Sensex gained 0.52 percent to 14, 919.19, while the Shanghai Composite was up 0.87 percent to 5,194.69. In South Korea, the Kospi index was 1.46 percent higher to 1,829.31. Decliners included the Australian ...