Figures released today by the Society of Motor Manufacturers and Traders (SMMT) have revealed a sharp fall in UK car production. According to the SMMT, car production fell 55.3% in April compared with the same month in 2008. A total of 68,258 cars were made in April, while the total for the year to date [...]
The UK’s car scrappage scheme got underway today but it has been reported that Ford and Honda have delayed their involvement due to a dispute over VAT. The scheme, which was launched to boost the fall in demand for new cars, pays consumers to get rid of their old cars and replace it with a [...]
Figures from the Society of Motor Manufacturers and Traders (SMMT) have revealed yet another fall in UK car sales. According to the SMMT, new car sales fell for the eleventh consecutive month in April, with a decline of 24% compared with April 2008. A total of 133,475 cars were sold last month – the lowest [...]
Confused.com has welcomed Alistair Darling’s cash for scrapped cars scheme, announced in this week’s budget. The price comparison site described the initiative – which pays motorists up to £2,000 for handing in their old car to update to a brand new model – as ‘fantastic’. It is hoped that in addition to giving a boost [...]
Figures released today by the Society of Motor Manufacturers and Traders (SMMT) have revealed further bad news for the UK car industry. According to the organisation, new registrations fell 21.9% in February, compared with the same month last year. The industry has been hit badly as the economic downturn has meant that consumers have cut [...]
Figures released by the Society of Motor Manufacturers and Traders (SMMT) have revealed a significant fall in UK car production. According to the SMMT, 61,404 news cars were produced last month, almost 60% down compared with than January 2008, primarily due to the slump in demand for new vehicles which has resulted in many plant [...]
This afternoon, Business Secretary, Lord Mandelson, unveiled a rescue package of £2.3 billion for the UK’s ailing car industry. The package comes after months of pressure on the Government to take action after the Society of Motor Manufacturers and Traders (SMMT) warned that the industry was “battling” for its survival. Many car manufacturers have been [...]
Working adults in the UK have ‘higher expectations’ of life than previous generations, causing a decline in saving for pensions. This is the view of Padraig Floyd, editor of Pensions Management magazine. According to Floyd, many consumers now take for granted having ‘a house, two holidays’ and being ‘able to go out for meals regularly’ [...]
Phone fraudsters stealing bank card pins
Fraudsters using a phone scam to trick bank card holders into revealing their pin numbers stole £750,000 in the first four months of this year. This is the same amount stolen through this scam in the whole of last year. The fraudster telephones a bank customer, often someone elderly or vulnerable, telling them that their [...]
FSA rules out ban on interest-only mortgages
Speculation that the Financial Services Authority would ban interest-only mortgages as part of its Mortgage Market Review has proved to be unfounded. However, lenders will be required to monitor the performance of the investment product taken out by the customer to repay the mortgage at the end of its term. Investments are performing poorly because [...]
Bank of England may end free in-credit banking
A director of the Bank of England has warned that official intervention could be considered to end the ‘dangerous myth of free in-credit banking’. Andrew Bailey has already spoken out against free banking in relation to the mis-selling of financial products. In a speech made available to media, he reiterated his concern, saying that it [...]
Bank of England votes against more economic stimulus
The Bank of England voted against a further round of quantitative easing, at its latest Monetary Policy Committee (MPC) meeting. Just one member, David Miles, voted for further asset purchase to encourage growth in the UK economy, while the other eight members voted to keep the Bank’s quantitative easing programme steady at £325bn. The minutes [...]
Catalogue debt growing says helpline
Calls from people concerned about their debts with mail order catalogues accounted for more than 12 per cent of all calls received by National Debtline last year, compared with just 8 per cent in 2007. More people were concerned about catalogue debt than about payday loans, mortgage or rent, according to the Money Advice Trust [...]
Homeserve faces mis-selling investigation
HomeServe, which provides emergency insurance cover and domestic repairs to households in the UK, is to be investigated by the Financial Services Authority (FSA). Issues over the possible mis-selling of household emergency policies were uncovered last October during an internal review at the Walsall-based company. Homeserve’s call centre staff were found to be selling ‘Complete [...]
OFT warns Wonga over debt collection methods
Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]
NS&I re-launches investment account
National Savings & Investments (NS&I) has re-launched its Investment Account at a higher interest rate than it previously offered. The account now offers 0.75 per cent before tax, compared with between 0.2 and 0.3 per cent previously, depending on the account balance. Deposits and withdrawals on the account can no longer be made at Post [...]
Rightmove reports property downsizing trend
Two in five property owners planning to sell in the next year are planning to ‘trade down’, compared with one in four who plan to ‘trade up’. A survey by property website Rightmove found that moving to a smaller home is the main reason for moving in nine out of the ten regions in the [...]
More people failing to save for retirement
The proportion of people with no pension savings has grown from 20 per cent to 22 per cent over the past year, according to Scottish Widows’ latest survey. The pension provider surveyed 5,200 adults in the UK, aged 30 or over, and earning at least £10,000 a year, for its annual review of pensions. Ian [...]
About | Privacy | Disclaimer | Resources | XML Feeds | Press Releases | Directory | Contact us
