Fresh rules aim for better deal for consumers May 17, 2011 NEW legislation to make insurance companies responsible for asking for relevant information from customers before issuing policies was introduced by the government yesterday. The Consumer Insurance Bill aims to shift the emphasis from a duty on the consumer to disclose information, to insurers having to ask the correct questions.
ANALYST VIEWS: WHAT STOOD OUT IN AVIVA’S RESULTS? May 17, 2011 KEVIN RYAN | INVESTEC The big attraction in a UK context is its composite business model. Cash from the non-life business essentially covers shareholders’ dividend and this places it in a very good position. The only note of caution is that it is winning significant new business in UK motor where premiums rose 60 per [...]
Plan to alter air tax sparks industry rage May 17, 2011 BUDGET airline EasyJet will today launch a campaign warning the government against changing the air passenger duty as proposed in the Budget, claiming such a move would reduce British GDP by £2.6bn. EasyJet today releases a report, written by Frontier Economics, which will claim that moving the levy would also reduce tourist spending by £475m [...]
Yell shares surge as it pledges its future to digital media May 17, 2011 YELLOW-PAGES publisher Yell plans to increase its presence in digital media in a bid to counter a chronic decline in its print business. It yesterday posted pre-tax profit of £66.3m, compared with £70.3m last year. Revenue fell 12.4 per cent to £1.9bn. However, while print revenue dropped by 18.6 per cent, digital media revenue grew [...]
Hedge funds hit £1 trillion in capital as leverage falls May 17, 2011 THE combined value of the global hedge fund industry has hit a record $2.02 trillion (£1.2 trillion), according to Hedge Fund Research (HFR). Investors have flocked to the vehicles to place assets due to above-inflation returns during a time of low interest rates and uncertain markets. Hedge funds typically offer investors inflation-protected performance, having outperformed [...]
London’s house prices are still leading from the front May 17, 2011 HOUSE prices in the south east continue to outperform the rest of the UK, official data showed yesterday. Prices in London for March were 5.6 per cent higher than the same time last year, the Department for Communities and Local Government said. Annualised prices also rose in the east (2.9 per cent) and in the [...]
City panel says British economy will avoid a double-dip recession May 17, 2011 THE UK economy is not heading for a double dip recession, according to our Voice of the City panel. City A.M. and PoliticsHome asked members of the panel, which is made up of London’s financiers and business people, to predict the state of the British economy in 2015. Just three per cent said they expected [...]
American housing slump persists May 17, 2011 Official data revealed more bad news for America’s ailing housing market, yesterday. US housing starts and permits for future home construction both fell in April, as an overhang of homes on the market discouraged builders from taking on new projects, pointing to prolonged weakness in the housing sector. Housing starts fell 10.6 per cent, down [...]
US industry hit by Japan quake May 17, 2011 US industrial output was broadly flat in April as the earthquake in Japan in March interrupted the supply of parts to auto makers, a Federal Reserve report said yesterday. Factory production fell 0.4 per cent in April, its first decline in 10 months. Excluding motor vehicles and parts, factory production rose 0.2 per cent in [...]
German investors’ morale dips May 17, 2011 German stocks were hit yesterday as the Zew index pointed to another drop in investors’ confidence. The index of sentiment over the coming six months fell to 3.1, from 7.1 in April – its lowest level since November last year, although still above the long run average. The measure of current economic conditions improved, hitting [...]
