£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.
Is Bradford And Bingley On The Brink?
While it has been common knowledge in the City for some time, Bradford and Bingley seem to be hitting some serious turbulence with regards to their attempted fund raising. The shares took a sharp lurch downwards just before the close of markets today with many now questioning whether the recently announced £300 million fund raising will still go ahead. The shares are now trading at 114p again...Read More
Bank Of England jumps to the defence of Mervyn King
Mervyn King, the Gov of the Bank of England, has today received support from his employers with regards to suggestions he is "looking to talk down the pound". This is a subject we have covered over the last few days, with certain comments from Mervyn King appearing to have been interpreted by the currency markets in a rather depressing manner. However, Mervyn King believes that his comments had be...Read More
Nobody wants Irish sovereign debt
The worldwide sovereign debt market is struggling to digest the problems within the Irish economy and today we saw the cost of insuring Irish sovereign debt increase to 300 basis points. There is now major concern regarding the recapitalisation of the Irish banking sector which has suffered more than most during the credit crunch and the worldwide recession. The Irish Central Bank this week sugges...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
Mega Bid Sees Wall Street End Session Higher
Aside from the doom and gloom currently prevailing in worldwide stock markets there may be signs of hope emerging in the US with news of a multi-billion dollar takeover bid. It has been announced that Dow Chemical is to acquire Rohm and Hass for nearly $19 billion with finance provided by leading groups including Warren Buffett's Berkshire Hathaway. If the old sage has seen a spot of value in th...Read More