Eight million suffer from 'crashback'
Up to eight million British drivers could be suffering from a post-car accident condition known as 'crashback'.New research says two in five motorists endure the "serious" affliction, which can lead to a "loss of confidence, nightmares about their accident and panic attacks even when they're not driving".Insurance provider More Than, which produced today's survey, claims that 170,000 people take six months to drive again after an accident, while 85,000 people have not driven since being involved in a crash half a year ago.The insurer says that it can take up to five years to recover from the condition, which can also lead to "erratic driving" when an individual gets behind the wheel again."Crashback is a very common condition among drivers who have been involved in an accident. Any car crash, no matter how small, can be traumatic, and there's nothing unusual in feeling upset or anxious after a crash," said Marcia Chambers, from More Than.Citing statistics that show 200,000 people are injured on British roads every year, More Than head of motor insurance Keith Maxwell, added: "Although not often talked about, this sort of anxiety and stress can be serious and people need to take time and concentrate on feeling better. "Drivers should not feel under pressure to get behind the wheel again before they're ready. It can add stress, meaning it takes longer to get back to normal, and could lead to unsafe driving behaviour."
Company insolvencies set to rise
A report by Begbies Traynor has concluded that there are around 127,000 UK companies which are suffering "significant financial distress". This comes at a time when the UK economy is starting to waver and the fragile nature of the ongoing recovery has been laid bare for all to see. It is estimated that these 127,000 companies owe between them around £70 billion which is a 26% increase on the firs...Read More
Lloyds Bank fails to agree toxic asset insurance deal
It has today been revealed that Lloyds Bank is no nearer an agreement with the UK authorities with regards to its toxic assets from the combined Lloyds Bank and HBOS group. While the amount of toxic assets in question is less than half of that which has already been agreed with the Royal Bank of Scotland there appears to be some problem on the side of the UK authorities. There is speculation that...Read More
Are UK investors jumping back into the stock market?
The Investment Management Association (IMA) has issued a very upbeat report on the state of the UK investment market with confirmation that the second quarter of 2009 saw a net £7.4 billion invested in the sector compared to just £2.3 billion in the same period last year. This figure is the net investment in the sector after taking into account redemptions and withdrawals and is very positive fo...Read More
Supermarket egg fraudster uncovered
Keith Owen, a former provider of free range eggs to the UK supermarket industry, has today been convicted of fraud and sentenced to jail. His crime was to sell eggs from his battery hens as free range, a fraud which took in the likes of Sainsbury's and Tesco. It is believed that the 44-year-old made profits in excess of £3 million over the two-year period in question and has been forced to surren...Read More
Is the period of reward for failure coming to an end?
The Financial Services Authority (FSA) has today confirmed that in the future new rules on remuneration will relate to 2,500 companies in the UK as opposed to just 27 at the moment. The "new" remuneration code will bring in a number of factors currently being discussed by the European Union and effectively end a period of "rewards for failure". So will this end excessive risk-taking? There's no...Read More