£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.
UK house prices 'levelling out'
Britain's residential property market has reached a plateau, the Financial Times' house price index suggests.Prepared by property consultancy firm Acadametrics based on extensions to official figures from the Land Registry, the index shows a 0.9 per cent monthly increase in property values across the UK during February.Most regions of Britain have been at or below the annual growth rate of 7.6 per...Read More
Could BP really suspend dividends?
Overnight the dispute regarding the Gulf of Mexico oil disaster has intensified with Pres. Obama suggesting that BP should suspend all dividend payments in the short-term to cover the cost of cleaning up after the oil spill. So would BP really consider suspending dividends? Earlier this week the BP management step forward to confirm that there was sufficient cash flow and sufficient assets with...Read More
Gordon Brown assures Europe on banking future
While he is the centre of much criticism at home it seems as though Gordon Brown is again using the European stage to further his reputation on the international stage at the expense of the UK. As the UK economy goes from bad to worse and voters call for more action he has announced that no solvent Bank in Europe would be allowed to collapse in the face of the current difficulties.
UK taxpayers may be forced to bail out euro members
In a move which will again highlight the problems with EU regulations and laws, it has been revealed that the UK may well be forced to assist with the bailout of EU member countries who have taken the euro as their currency. Despite the fact that the UK has not yet joined the euro there appears to be small print in the European Union treaty which allows EU regulators to force EU members to contrib...Read More
UK recovery will be patchy
The Centre for Cities, an association which monitors prominent cities around the UK, has today suggested that various UK cities are better prepared for the eventual economic upturn than others. The association has cited Brighton, Milton Keynes, Reading, Cambridge and Edinburgh as having "the right ingredients" to succeed when the economy turns although places such as Stoke, Burnley, Barnsley, Newp...Read More