£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Record numbers switching electricity providers
21/01/2014 A record number of electricity customers changed their supplier in November, according figures measured by ElectraLink. ElectraLink, which measures data for the industry has released figures showing that more than 615,000 people switched electricity suppliers in November. The highest number since records began. However, the figures regarding the number of those switching their gas...Read More
Warren Buffett's $34 billion gamble on the US economy
Seasoned investor Warren Buffett has agreed to pay $34 billion for Burlington Northern Santa which is one of the largest railroad operators in the US. The deal is effectively a tidy-up as Buffet's Berkshire Hathaway vehicle already holds 22.6% of the business and was looking to take effective control. However, it is potentially a massive gamble on a recovery in the US economy which few investors h...Read More
House prices down again in March
New data from the Land Registry has provided further evidence of a slowdown in the UK property market. According to the body's figures, the price of a property in the UK and Wales fell by an average of 0.4 per cent during March - the second month in a row in which a fall has been recorded. As a result of the decline in March, the rate of annual house price inflation has slumped from 5.3 per cent i...Read More
PwC uncovers debt concerns
Borrowing on credit cards and through unsecured loans climbed by six per cent over the year to September, PricewaterhouseCoopers (PwC) has said.According to the accountancy firm, many Britons are also concerned about their ability to pay off debt.The new PwC report showed that around one in four are worried about their future debt repayments - while 16 per cent are facing problems with the payment...Read More
Alliance & Leicester attacks the UK current account market
In a sign of increased competition in the UK banking industry it has been revealed that Alliance & Leicester is again offering £100 to customers switching their current accounts from competitors. The online offer is set to run until 28 May and is indicative of greater demand for current account customers in the UK banking sector.
The Alliance & Leicester offer also allows an intere...