'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."
Eon cuts gas prices for customers
14/01/2015 Energy firm Eon will cut gas prices for its customers by 3.5% will immediate effect. German company Eon supplies gas and electricity to 4.5 million homes in the UK, who will now save on average £24 off an annual household gas bill. Wholesale energy costs have fallen recently, they are now 30% lower than last year. This has put energy firms under huge pressure to lower the pr...Read More
Is Inflation Starting To Bite Into The Retail Sector?
As we hear news that Unilever was unable to introduce price hikes to offset the rising cost of production in the last quarter, it seems as though inflation is starting to bite. Unilever is not the only company which is struggling to push through price rises with many on the high street struggling to cover rising production costs. So where does this leave the retail sector?
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Will US banking giants move to London after US banking levy is introduced?
In a rather bizarre quirk of fate, the announcement by Barrack Obama of a levy against the US banking sector to replenish taxpayer's funds may well play into the hands of the London market. Despite the fact that the UK government is pressing ahead with a 50% banking bonus tax the playing fields between the US and UK are now more level than they have been for some weeks. On the face of it, it seems...Read More
Offshore Bank Account Amnesty
HM Revenue & Customs are chasing thousands of people who they believe are using offshore bank accounts to hide assets. The taxman has decided to offer all 5000 culprits the opportunity to come clean during a short amnesty in which they will be not be penalised for declaring the income. UK citizens are under no obligation to reply to the letters which are being sent out but have been warned by a...Read More
KPMG warns of more losses for high-street banks
Accountants KPMG have today issued a damning report on the UK banking sector with a belief that bad loans will remain a significant issue for high-street banks for the foreseeable future. A weakening employment market and a property sector which has show signs of life, although never seems to turn the corner could be the catalyst for further large write-offs by the U.K.'s leading banks.