With sales down 30% in the UK and by more than half in the US, mouth-watering tales are emerging in the trade of nearly new Ferraris going for a quarter of the usual price, dirt cheap second hand Porsches and slash-and-burn sales on all sorts of top marques.
And the price-tags on new cars are […]
Homes in the UK lost 10.2% of their value during the 12 months to the end of December, the first time the Department for Communities and Local Government has recorded a double-digit drop since it first started collecting the data in 2003.
The steep fall reported during December contrasts with more […]
The ultra low-cost US mutual fund group Vanguard has announced its intentions to launch into the already crowded UK market.
It gained fame for bargain tracker funds with fees that are a fraction of the cost of traditional rivals.
The group, which manages more than $1.1 trillion in assets and serves more than 23m individual and […]
Tomorrow is the last day of a three-month consultation carried out by the Department of Business Enterprise and Regulatory Reform into the use of service charges, tips and cover charges in paying staff.
The department is understood to favour changing legislation so that employers can no longer count tips towards payroll costs.
The department, headed by […]
In a stock market statement that sent shockwaves through the City and Westminster, chief executive Eric Daniels revealed that the crisis-torn HBOS arm of Lloyds Banking Group was on course to post a £10bn loss for 2008. This is more than twice as high as some City analysts […]
Mortgages for home purchases dived by 49% in 2008, to just 516,000, according to the Council of Mortgage Lenders. This was the smallest number since 1974 and represented a third less than the 723,000 approved in 1991 the lowest level of the 1990s slump.
The number of people buying their first home fell to […]
Last week, Norwich Union stunned savers by withdrawing its offer to pay back more than £1bn of surplus money - or ‘inherited estate’.
This surplus includes money withheld by the insurer in good years plus the funds of dead policyholders whose relatives can’t be traced.
Savers were originally offered an average payout of £1,000.
A […]
The latest report from the Royal Institution of Chartered Surveyors (Rics) showed buyer inquiries rising for the third month in a row, with 16% more of its estate agents reporting a rise in potential buyers than a fall.
But average sales per agent, over the three months to January, fell to a new record low […]
Skiing and snowboarding holidays are the trips most likely to end in a trip to Casualty.
Not taking out a policy can be a very costly mistake. A broken leg will cost you between £13,000 and £16,000 in the U.S. and up to £7,000 in Europe, according to Norwich Union.
- Money savers: Skiing and snowboarding […]
The insurer says plans unveiled last July to distribute funds in its so-called orphan estate will have to be re-examined in light of falling stock markets and turmoil in the credit markets.
Aviva chief executive Andrew Moss has already begun backtracking from the offer and has opened talks about a lower payout with Clare Spottiswoode, […]
© 2008 Daily Financial News