British drivers treat their cars as high security vaults, collectively storing an estimated £3.8 billion worth of gadgets and accessories in their vehicles, research by over 50s insurance specialist Saga has discovered. The study found that one in five (22%) motorists over 50 keep valuables worth more than £200 in their car. This exceeds the [...]
Many UK drivers treat their cars as cupboards-on-wheels, using them to store valuable goods including sat navs, books, glasses and sports equipment. Around 7 million motorists store items worth more than £200 in their vehicle, with 2.8 million of these storing items worth more than £400, recent research discovered. Youngsters and Londoners cite lack of [...]
Newlyweds should check their home contents insurance policy to make sure it covers the value of their wedding gifts, Direct Line said this week. The average wedding gift is worth £79, meaning that a couple with just 50 wedding guests will need nearly £4,000 of extra cover on their home insurance. A wedding ceremony with [...]
John Lewis reports challenging trading environment
The John Lewis Partnership, which is regarded as a barometer of British retailing, has reported a marginal increase in sales and said trading conditions are “extremely challenging”. The renowned employee-owned chain, which owns the Waitrose supermarket chain, said sales rose 1% on a like-for-like basis in the six month period to 30 July. However, across [...]
European equities markets were higher Tuesday as banks came back from big declines on Monday, helped by a statement from Societe Generale’s (Euronext: GLE) CEO that his bank is healthy. The FTSE 100 was up 0.87 percent to 5,174.25 in London, while the FTSE 250 added 0.27 percent to 10,011, with banks the best performers [...]
Rics: Housing market remains in the doldrums
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
CML: Mortgage lending edges higher in July
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
UK inflation edges higher in August
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]
Fresnillo down on silver prices
European equities markets were lower Monday on the possibility that Greece could default soon and on speculation that Moody’s Investors Service could cut its rating on several big banks with holdings tied to Greece. The FTSE 100 was down 1.63 percent to 5,129.62 in London, while the FTSE 250 dropped 1.65 percent to 9,983.75 as [...]
IFS warns of tough times for UK households
A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]
ICB final report recommends ring-fencing
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]
Tullow Oil leads 100 in London
European equities markets were significantly lower Friday on an increased possibility that Greece could default on its debt as soon as this weekend, raising the concern level over the European region’s debt problems and ratcheting up worries that the economic recovery is faltering. Additionally, markets reacted to the resignation of European Central Bank board member [...]
SMMT: UK car sales rise in August
The Society of Motor Manufacturers and Traders (SMMT) have revealed UK car sales saw their first rise in 14 months in August. According to the trade body, car sales rose by 7.3% in August compared with the same month in 2010, with sales of smaller cars rising by more than 30%. The Ford Fiesta remained [...]
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