Private medical insurance popularity grows
According to figures from the Association of British Insurers (ABI), the number of people taking out Private Medical Insurance (PMI) has risen year-on-year for the first time in recent years.In 2006, 1,030,000 individuals took out personal PMI policies, up 1.8 per cent from the 1,012,000 personal PMI policies in 2005.The number of businesses taking out corporate PMI has increased even more than this, with 2,345,000 corporate PMI subscribers in 2006 an increase of 4.1 per cent on 2005's total of 2,254,000 corporate subscribers.Collectively, personal and corporate PMI plans now cover 5.9 million people in the UK. Commenting on the statistics, Nick Starling, the ABI's director of general insurance and health, said: "Private Medical Insurance offers people greater choice of treatment and other services for a wide range of medical conditions and injuries. It also takes pressure off the NHS, so by buying PMI, people are effectively reducing the burden on Britain's hard-pressed health service. "It is encouraging that more individuals are choosing to buy PMI for themselves and their families. PMI bought by companies on behalf of their employees has continued to increase in popularity too, helping to ensure that people can get back to work sooner after illness or injury."
Tesco directors face challenge from shareholders
It has been revealed by a number of significant shareholders in Tesco are concerned about the level of remuneration enjoyed by some directors and the structure of share incentive schemes. This comes just days after Sir Terry Leahy decided to announce his retirement next year and his withdrawal from Tesco after more than 30 years with the group. However, institutional shareholders in Tesco are like...Read More
The UK economy suffers setback
Figures released today by the Office for National Statistics show that industrial production in the UK fell by 0.5% in June against analyst's forecasts of an increase of 0.2% for the month. Even though much of the reduction in industrial production can be put down to the fact that the oil and gas sector closed down early for its seasonal shutdown there are signs that other areas of the UK economy...Read More
Government demands power price cuts in the short term
Yet again it looks as though the government and the power companies in the UK are at serious loggerheads with a flat refusal by likes of British Gas and Centrica to reduce energy prices in the short term. The groups have suggested it will not be until the spring of 2009 before consumers see price reductions even though the price of wholesale gas and electricity has fallen substantially in the shor...Read More
EU ruling does not bode well for Lloyds and Royal Bank of Scotland
EU regulators have today confirmed that Dutch bank ING will need to down size its balance sheet in order to take account of state aid which was received when the company was in dire straits. This comes at a time when Lloyds bank and Royal Bank of Scotland are awaiting a ruling on UK government state aid and any potential reduction in the size of the businesses and any asset disposals.
Greece authorities confirm budget funded until mid-March
In a bid to silence concerns within the worldwide investment markets the Greek authorities have confirmed that their budget requirements are covered up until mid-March. However, in some ways this move has backfired and effectively created a timetable for change which is very short. It is no secret that the European Union has demanded massive budget cuts from the Greek authorities in exchange for p...Read More