'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
Private equity giant applies for British banking licence
It has been revealed that US private equity giant Blackstone has applied for a UK banking licence and could become the latest in a long line of companies looking to take advantage of confusion and disappointment with the traditional UK banking arena. The company is one of the largest buyout operations in the world with experience in many areas of business and contacts aplenty. The rumour is tha...Read More
British Gas reports drop in profits
20/02/2014 British Gas have reported a small drop in profits from their residential business in 2013, citing factors such as warmer weather and increasing wholesale costs. Operating profit for the full year was recorded at £571 million, a 6% reduction from £606 million in 2012. Furthermore, parent company Centrica also posted a small reduction in profits during the same time period as they...Read More
Welsh MPs under pressure regarding expenses
The Daily Telegraph has today issued allegations regarding 50 Welsh MPs and their expenses. The paper claims that government whip Mark Tami and many more MPs have claimed council tax expenses even though it is alleged they have not actually paid the council tax in full. This is yet another nail in the coffin of the UK expenses system which is certain to be severely revamped in the weeks, months an...Read More
Problem debt has massive cost on UK economy
08/10/2014 Problem debt cost the UK £8.3 billion through the damages it causes to peoples lives, a leading debt charity has claimed. StepChange debt charity has said that due to the problem of debt damaging family life, mental and physical health, productivity and employment prospects it comes as a massive detriment to the UK economy through costs to the welfare state, the NHS, local governm...Read More
Will Marks & Spencer surprise the city on the upside?
This Wednesday sees half-year figures from retail giant Marks & Spencer amid hopes that the UK high street may well have turned the corner. Marks & Spencer shares have risen by around 25% over the last three months with broker upgrades for the full year figures rising from £430 million to £600 million. While the shares have factored in some of the increase in forecast figures, there is a feeling...Read More