£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.
Scottish & Southern hikes energy tariffs
Energy prices for 8.5 million customers of Scottish & Southern Energy are set to rise as of April, it has been announced. The company has confirmed that its gas and electricity tariffs are to be hiked by 15.8 per cent and 14.2 per cent respectively. Rising wholesale energy costs were cited as justification for the move, with the company drawing attention to a 90 per cent increase for gas and a 100...Read More
Rightmove: house prices decline
Home owners are now pricing their homes more realistically as the credit crunch continues, new analysis from Rightmove suggests.According to the online property portal, house prices in the UK fell by 1.2 per cent in June - cancelling out the rise in costs registered in May.The new set of results drag the annual rate of inflation down to 0.1 per cent - with the average house price now standing at j...Read More
London Stock Exchange reveals Turquoise investment
As expected, the London Stock Exchange has today confirmed it has taken a majority stake in alternative trading platform Turquoise, a venture which many people had believed would initially cause concerns for the London Stock Exchange. However, after £40 million start-up costs and £15 million of losses the banks behind the venture have effectively given up and handed control to the London Stock E...Read More
UK living wage rises by 20p per hour
03/11/2014 The UK living wage has risen by 20p per hour to £7.85. The rate in London will rise from £8.80 an hour to £9.15. The UK living wage is an hourly rate based on the amount needed to cover the basic cost of living, but it differs from the UK minimum wage. The UK minimum wage is set by the Chancellor each year on the advice of the independent body Low Pay Commission (LPC) and en...Read More
Land Of Leather Reported To Be In Refinancing Talks
Sofa retailer Land of Leather is reported to be in talks about refinancing the company’s debt after a sharp downturn in trading added to the recent pressures of the Group. The company was recently in the headlines after being fined £210,000 for mis-selling insurance protection but it seems that this may be the least of the company’s troubles.
Closely linked to the hous...