Microsoft, the world’s largest software company, has announced its profits for the April to June period and has exceeded analysts expectations. The company said profits hit $4.52 billion (£2.96 billion) for the second quarter – a rise of 48% compared with the same period a year earlier. The software giant, which released the Windows 7 [...]
The 10-year search and advertising deal between Microsoft and Yahoo has been approved today by both the US Department of Justice and the European Commission. Both companies said they plan to begin the tie-up in the next few days and the deal will be finalised by early 2012. The deal, which was agreed in July [...]
Supermarket giant Tesco has taken the next step in its quest to become a bank by signing up Fiserv. US-based Fiserv provides information management and electronic commerce systems to the financial services industry. Tesco said Fiserv will assist it in becoming a full-service bank by providing account information and banking transactions for Tesco Bank customers. [...]
Microsoft, the world’s largest software company, has today announced its profits for the July to September period and has exceeded analysts expectations, which led to an 8% rise in its shares in pre-market trading to $28.68. The software giant, which released its new Windows 7 operating system yesterday, said net profit came in at $3.57 [...]
Supermarket giant Tesco is continuing its expansion into financial services by agreeing a partnership with Fortis, which will form a new motor and household insurance company. Tesco, which has a 30% share of the grocery market, already offers credit cards, savings accounts and insurance via its Tesco Personal Finance (TPF) brand and announced plans late [...]
O2 is to enter the UK’s personal finance market, by forming an alliance with NatWest, by launching a Visa pre-paid cash-card service. The first products from O2 Money, with the backing of NatWest, are two cash cards, designed to give people more control of their money. The cards will be in circulation from next month [...]
The airline industry continues to suffer amid the economic downturn and in an attempt to slash costs, Europe’s largest airline, Air France-KLM is to axe 2,700 positions. The news came after the company announced its results, which beat market expectations and sent its shares up by 11%. The carrier suffered a net loss of €505 [...]
Asda’s car insurance customers are to be covered for road rescue by LV= following a partnership deal between the two companies. LV’s Britannia Rescue division – the UK’s fourth largest road rescue company – will provide the cover for an initial period of three years, starting this month. The breakdown products will be sold in [...]
Premium online property group, Simplyzigzag.com, has announced its expansion into the US market. Simplyzigzag, which was launched in June this year, is to expand through two local partnerships in California and Florida – areas which are traditionally investment destinations for Britons seeking property overseas. The group has formed a partnership with a leading independent real [...]
Newly-established online property group, Simplyzigzag.com, has announced it has teamed up with one of Bulgaria’s leading real estate companies. The partnership will allow Simplyzigzag.com to offer properties in nearly all resorts and cities within Bulgaria, including the desirable area of the Black Sea and the mountainous ski regions. In addition, Simplyzigzag.com is soon to be [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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