Young drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25 per cent also admitted to having their brake fluid checked.The findings come despite the DVLA introducing a car maintenance section to the practical driving test in September 2003.Some 37 per cent of 18 to 24 year olds who have passed this test still struggle when it comes to checking the level of their car's brake fluid."It's not unusual for drivers to feel a little helpless when it comes to car maintenance -however, it is important for drivers to be able to make basic safety checks on their vehicle, such as checking tyre pressure and oil level," Emma Holyer, Direct Line's motor spokesperson said."These checks are essential before embarking on a long journey and we are urging motorists to ensure they are able to conduct these simple tests rather than relying on parents or mechanics for help."Our research also shows that more than four in ten drivers have waited for their vehicle's annual service to fix some of these potentially serious problems. This should be avoided as it is important that all motorists are driving roadworthy vehicles," she added.Asking parents for help is still a popular and altogether cheaper alternative to paying out for professional know-how, with 62 per cent of all young drivers confessing to turning to their mums and dads for advice.
Business Confidence hits 20 year high
06/01/2014 A report from Lloyds bank has claimed that confidence from UK businesses in the wider economy and export prospects has hit a 20 year high across all regions and sectors in the UK. The report suggests hope and expectation amongst UK businesses that the wider economy will grow in the first 6-months of 2014, whilst further offering hope for increasing levels of employment in the New...Read More
Investors advised to cash in shares
Drops in the value of equities means that a move into cash is advisable, Standard Chartered Private Bank has indicated.According to a note from the financial firm, investors should become "underweight" in shares within their portfolio - in order to take advantage of cheap deals as prices continue to fall in months to come.The comments come following another month of credit crunch-induced turmoil o...Read More
UK Banks need help not revenge
As governments, regulators and heavyweights from the business arena continue to gang up against UK banks there is a feeling that revenge is on the cards and the banks will be the ones to suffer. However, while even the most loyal of bankers in the UK would agree that changes need to be made to the UK banking sector, we need to see remedies for the UK banking sector not revenge.
Is there a counter bid on the way for HBOS?
It has been revealed that plans for a counter bid for HBOS are well underway with leading Scots financier Jim Spowart apparently the man chosen to head the consortium bid if it ever gets off the ground. The Scottish government has become involved and Scottish secretary Jim Murphy is believed to be in talks about a possible second bid for the bank.
While the government has been very...
UK credit card companies chase card "tarts"
The so-called credit card "tarts" in the UK, those who regularly move from card to card to take advantage of attractive interest rates and various promotions, may well be looking over their shoulders over the next few months as the UK credit card companies promise to work closer together. While historically credit card companies have shared information on clients regarding their balance, credit li...Read More