Category Archives: Financial Services

Financial Services

Banks, Credit Cards, Financial, Financial Information, Financial Services, Financial Solutions, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Confused.com Research Reveals Reasons For Lack Of Life Nsurance Cover In The UK

New research from Confused.com has revealed that 50% of adults surveyed do not have a life policy in place, worryingly, of those without life insurance, 29% have children and 52% are married, meaning loved ones would be left financially disadvantaged should the worst happen.

31% of people do not to take out life insurance because they don’t benefit from it personally. In fact, people in the UK are so laid back about future planning for their loved ones, 34% of people say that covering their possessions is more important than covering their lives.

Moreover, 20% would prefer to spend their money on an annual holiday and 11% see covering their laptop as more of a priority.

The research suggests a shift in UK mentality with more people opting to live for the moment, rather than thinking ahead.

However with life insurance policies costing an average of just £22.29 a month, it’s not really affordability that should be questioned but people’s priorities.

Matthew Lloyd, Head of Life Insurance at Confused.com, said: “It’s worrying that people are blaming cost for not having any life insurance when they spend so much money on other things, which are arguably less important than future planning for their loved ones.”

“With over 50% of people not having life insurance and 56% of their partners not having life insurance this shows a worrying future for peoples loved ones. The benefit of life insurance is peace of mind; knowing your family will be looked after financially.”

“An average life premium YTD is roughly 74p a day, which is loose change in many people’s pockets, however 34% people say they can’t afford it. Shopping around for the best deal available on comparison sites like Confused.com is essential in finding the right policy at the right price.”

Via EPR Network
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Confused.com Research Reveals How Households Reduce Energy Usage In Their Homes

New findings from Confused.com* show that 45% of UK households are avoiding switching the lights on in their homes, in a desperate attempt to reduce energy usage and keep bills down.Surprisingly 3% of people eat by candle light which is great for the romantics in us, but not ideal on a daily basis.

The research also shows that 14% of people are sharing bathwater with their family, as householders turn to more extreme ways to keep the cost of their energy down.

Household bills have risen dramatically over the last few months** and 72% of UK householders are trying to save as much energy as possible. Following a summer of price rises, bad press and damning findings from Ofgem showing that energy suppliers are making a massive profit of £125*** for each average customer, people are now being forced to ration their energy usage.

In the Energy Summit, the Prime Minister, consumer groups, energy suppliers and industry regulator Ofgem for the first time agreed that consumers need more help to get the cost of their gas and electricity bills down and urged consumers to shop around.

As many UK residents face another cold winter with many struggling to pay their bills, 52% of people admit that they wear more clothes in winter to avoid putting the heating on. Worryingly, 70% of the 55+ age range group admit they already do this, and this is before the latest price hikes have taken affect.

Lisa Greenfield, Confused.com energy analyst, said: “It’s worrying that energy prices keep rising, leaving many UK residents struggling to pay their bills. However it’s encouraging to see people adapting to this by consciously thinking about energy saving ways. Over 75% of people think about saving energy and the 55+ age group appear to be the most energy conscious.”

“We worry that people are taking extreme measures and are suffering in a bid to save energy, just by making simple changes like only using the dish washer when its full, turning your washing machine down to 30 degrees and not putting warm items in your fridge/freezer as it has to work harder to cool it down can save you money on an annual basis. However shopping around on a price comparison site and switching your tariff or supplier could save on average £248.”****

To get one-to-one advice from the Energy Saving Trust on how to cut your energy bills, those interested can join the Confused.com live webcast on 27th Thursday, at 12.30pm. They can also get their energy questions answered on the Confused.com site as well as view the energy price infographic.

Via EPR Network
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Gold Can Help You Overcome Financial Problems

Items made from gold and other precious metals such as silver and platinum could be some of the most valuable resources you have in these troubled financial times. Unlike stocks, bonds, mutual funds, 401Ks, real estate and other collectibles these items are actually gaining in value while everything else seems to be in decline.

Prices are Better than Ever

Gold is increasing in price both as a commodity and as a raw material for jewelry and other uses. In fact the demand for gold as a raw material is higher than ever so a wide variety of companies are paying more for it than ever before. This why it is now very easy to sell gold in Oceanside, NY, the buyers know that they can get a good price for it so they will purchase it.

This means that a person should be able to sell any sort of gold that he or she has in his or her home including scrap gold, bars, coins, jewelry, broken jewelry, chains, antiques and collectibles. It also means that it is now possible to sell even lower grade gold such as 10 karat items for a good price.

It is also easier than ever to sell gold long distance. There are several companies including Gold Cash that now pay a very high price for items sent in.

The higher prices also mean that it is easier than ever to pawn gold . Pawnbrokers are willing to loan more on it because the amount of the pawn loan is usually 60% of the item’s value. If the item is worth more you will receive more when you pawn it.

Anybody who is facing any sort of financial difficulty should check his or her home or safety deposit box for items made of precious metals like gold. This can include a wide variety of items including antiques, collectibles, coins and watchcases. Items that contain diamonds will be worth more than plain jewelry.

If you are unsure whether an item is made of gold bring it in or send it in. The professionals at companies like the Gold Standard will be happy to examine it free of charge and tell you what you have. That way you can put a little extra cash in your pocket or your bank account.

Remember you run now risk when you visit a pawnbroker or gold buyer they will keep your visit confidential and they might be able to help you with the extra funds that you need. We all know that extra money will come in handy these days.

Via EPR Network
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Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Standard Life Plc Joins Top 10% Of Companies In The World

Standard Life plc is pleased to announce it has earned a place in the Dow Jones Sustainability World Index (DJSI World) for the first time, joining the ranks of the top 10% of sustainable companies in world.

This placement in the Index reflects a strong and steady increase in Standard Life’s sustainability credentials over the past few years. Membership of the DJSI World Index is widely recognised as being an impartial and definitive measure of sustainability. Membership shows a good performance across a wide range of sustainability measures. However, Standard Life’s score was particularly strong in the areas of stakeholder engagement, corporate citizenship and philanthropy, brand management, labour practice and for its environmental management system.

Last year Standard Life plc entered the Dow Jones Sustainability European Index for the first time. Several new initiatives over the last 12 months – to strengthen relationships with customers, further reduce Standard Life’s environmental impact and to invest in the community – have now earned it a place among the best in the world, alongside companies such as Roche, BMW, Pearsons and Swiss Re.

Graeme McEwan, Group Director of Communications at Standard Life, commented: “Sustainability is vital to Standard Life and something we take very seriously. So we are proud of this achievement – we’re one of only 16 companies in our sector, from across the world, to have made it into the 2011 World Index.

“One of our most improved areas was around customer relationship management. In the past year we have set up a website, Standard Life Listens, to provide a forum to exchange views and help our customers learn more about Standard Life. Listening and responding to customers is at the heart of our business strategy and our brand, so it’s great to achieve an improved score in this area.”

Having a trusted, differentiated and preferred brand is also vital to Standard Life. It is a strategic business imperative and the way the brand is being managed has also contributed to a strong sustainability score.

McEwan explained: “We support customers by regular analysis of their needs, the choices they make and how our products are working for them. Through this insight we are able to develop relevant and innovative products, and ensure we communicate their benefits in a way that our customers easily understand. This is something we are now doing across our group.”

The work of the Standard Life Charitable Trust (SLCT) – an independent charity established by Standard Life – also helped to increase Standard Life’s sustainability score. The vision of the trust is to benefit society by building capability and supporting independence. It is focused on supporting people most in need of developing skills to manage their finances. The Trust is currently working on three key projects; with the Royal British Legion to develop and deliver a new strategy that aims to improve financial capability within the Armed Forces; Shelter, the housing and homelessness charity, to fund three telephone advisers who can offer advice and support via Shelter’s helpline to anyone who is at risk of losing their home and Grand Central Savings, a Scottish Charity that offers financial services to people who are socially and financially excluded, by providing access to banking facilities and offering advice and assistance to people who cannot access or benefit from mainstream banking.

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PruHealth Partners With The National Trust To Organise Walking Festival

PruHealth and the National Trust have reported that more than 32 million people plan to head outdoors to enjoy an autumn family walk, new research has shown.*

Over 16 million (33%) say it’s the season’s beautiful colours that makes autumn walking so special.

To celebrate the season and to promote the virtues of being active, the National Trust is holding its first ever National Festival of Walking this October half-term, with at least 50,000 people expected to take part.

The National Trust has partnered with a leading health insurer PruHealth to organise around 1,000 events all over the country, from barefoot walks to silly walks, adventure walks to wildlife walks.

The festival is the perfect opportunity for the public to get outdoors and have fun, especially with 41% of adults saying they don’t spend enough time with their families. **

William Wake from the National Trust’s outdoors team said: “From leaf kicking to finding conkers and wrapping up warm, there is something simply delicious about an autumn walk.

“We’re asking people to tell us what they think makes autumn walks so special, to see if we can identify the perfect formula for a family outing this half term.”

Events are taking place at 180 sites in England, Wales and Northern Ireland from 22-30 October.

There will also be more than 800 free walking routes available to download from the National Trust website at www.nationaltrust.org.uk/walks.

People can also log their own favourite walks on an interactive map on the website, and join a debate on the best things about autumn walking on the National Trust’s Facebook pages or on Twitter using #walkfest from October 20.

Dr Katherine Tryon, Head of Clinical Vitality for PruHealth, added: “The Walking Festival is a great way to get active with the whole family, and there are walks to suit all fitness levels.

“Government guidelines*** recommend we walk 10,000 steps a day, and just thirty minutes of brisk walking each day can help reduce the risk of coronary heart disease, maintain a healthy weight, improve self-esteem and reduce symptoms of depression and anxiety.

“The average walk at the National Trust is three to four miles, which is approximately 6,000-8,000 steps – well on the way to reaching the target while having a fun day out. When you’re healthy, you can get more out of life – come along and see.”

Via EPR Network
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Experian Data Shows Identity Fraud Attempts Double In First Half Of 2011

Experian, the global information services company, has released its latest Fraud Index which reveals that identity fraud attempts doubled in the first half of 2011, compared to Q4 in 2010. This pushed up the overall level of application fraud attempted against UK financial services firms for the third successive quarter. Experian also predicts a nine per cent increase in application fraud attempts during 2011*.

The analysis, published at Experian’s annual Identity & Fraud Forum, reveals that identity fraudsters were responsible for eight in every 10,000 applications made in Q2 2011 (April – June 2011), double the number of fraudulent applications recorded in the final quarter of 2010. This was driven by a 340% increase in current account identity fraud, from five to 22 in every 10,000 applications.

Experian’s analysis also highlights that 18 in every 10,000 applications for automotive finance, credit cards, insurance, loans, mortgages, current accounts and savings products made in the second quarter of 2011 were found to be fraudulent. These were five per cent higher than January to March 2011, and up nine per cent on the year.

Over the same period the number of first-party fraud attempts – where a genuine individual misrepresents their circumstances – remained constant at 10 in every 10,000 applications.

42 in every 10,000 applications for current accounts were detected as fraudulent between April and June 2011, up 20 per cent on the first three months of 2011 and 59 per cent higher than during Q2 2010. For the second quarter in a row, current accounts were the most targeted financial product by fraudsters.

Experian’s Fraud Index collects data from both the National Hunter and Insurance Hunterfraud prevention systems, which are managed by Experian on behalf of its clients. Both systems provide a way for financial organisations to protect against fraud by comparing applications with previously submitted ones and pinpointing inconsistencies.

Nick Mothershaw, Director of Identity & Fraud at Experian UK & Ireland, commented: “Identity fraud is back with a vengeance. Our analysis shows that we are witnessing a surge in the number of detected identity frauds, with current accounts the number one target in the UK. Fraudsters see the current account as an easier option, giving them a springboard for money laundering and from where they can also target more lucrative credit products such as mortgages, credit cards and loans.”

Via EPR Network
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Demand for Gold and Gold Jewelry Constantly Increasing

The demand for gold and gold jewelry is constantly increasing and that’s good news for average Americans who need extra cash. The reason it is good news for average people is that it means it will be easier than ever to sell gold in Oakland Gardens.

Even though the demand for investment or commodity gold and gold investments such as exchange traded funds is down the demand, for jewelry gold keeps increasing. It is really strong because people in India and China are buying more gold than ever. Much of the jewelry sold here is smelted down and sent over there. That’s good news for you because gold buyers can now afford to pay a better price than ever before.

Although the price of gold in the newspaper is falling, the price in your neighborhood could still be going up. The buyers still want to buy your jewelry and they’re willing to pay good price for it. New stores are opening all over the New York area and the mail-in buyers are paying more than ever before.

This means that now is a great time to clean out your jewelry box, safe or safety deposit box. Why keep paying to store what you don’t want when you could sell it for cash?

The huge demand for this metal means that buyers are willing to purchase items they would not have looked at just a few years ago. They are willing to buy scrap gold, gold dust, broken jewelry, chains, even old watchcases. Any item you have that you think might be made of gold, silver or platinum could be worth money. They are also willing to purchase lower karat gold including items that are 10 karats or less.

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Northern Rock Staff Star In Latest Campaign To Help Bring Mortgages To Life

Northern Rock has placed its own staff in a starring role in its new mortgage campaign. The new campaign aims to build on the success of the helpful video guides available on its award winning mortgages website.

Two customer service agents from the lender’s Tyneside call centre are the first to have lent themselves to the latest campaign – ‘Mortgages Made For You’ – by appearing in video clips designed to bring their own warmth and personality to the business of mortgage lending.

The videos, which feature call centre workers Leanne and Joanne, along with some details about their own lives and circumstances, highlight not only that the bank’s staff are there to guide borrowers through every step of their mortgage journey, but also feature details of the lender’s popular incentives, Cashback, and free basic valuation and standard legal costs for all re-mortgage customers.

The move comes just months after the successful launch of the bank’s brand campaign, ‘Works for Me’, which features real Northern Rock customers pictured in their own homes, and is the latest improvement to a website which has won a string of accolades since its redesign last year.

Andy Tate, Customer and Commercial Director at Northern Rock said: “Buying a home can be stressful and daunting for anyone. Here at Northern Rock, we regularly receive great feedback from our customers about how friendly and warm our staff are to deal with, and how straightforward they help make the mortgage journey.

“So, building on ‘Works for Me’, which is all about letting our customers speak for us, we thought our dedicated colleagues in our branches and contact centre would provide the perfect next step. After all, they are the human face of Northern Rock, providing the first point of contact to all our customers.

“We hope our customers will find the most recent videos, and ‘Mortgages Made for You’, a welcome addition to the website.”

The videos can be viewed at www.northernrock.co.uk/mortgages/Mortgages-Made-For-You along with more details on the bank’s current range of mortgages and other tools including a mortgages calculator.

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Confused.com Research Reveals Smart Phone Users Risk Lives When Driving

Confused.com has revealed that UK drivers prioritise their social lives before saving lives on the road. Almost half 40% (38.95%) of motorists check their phones whilst driving, with 27% admitting to logging onto Facebook behind the wheel. The car insurance expert also found that nearly half (45%) will not start their journey unless they can see their phone; a lethal combination considering that drivers are four times more likely to crash when using a mobile phone.

The increasing popularity of Facebook and Twitter means that the ‘Twitch Factor’ is on the rise, with one fifth of motorists not being able to last more than 15 minutes without checking their phones. 15% of workaholic motorists take advantage of time stuck in traffic to catch up on their work calls or emails, and over one fifth (21%) update their status whilst caught behind a red light.

Surprisingly, although 75% of motorists are aware of the penalty for being on their phone behind the wheel, 60% of them still answer their phone when they’re driving. The ignorance of drivers suggests a harsher penalty should be introduced, withover 50% of motorists supporting this idea.

Adrian Walsh, Director of RoadSafe said: “It’s a frightening thought that people are checking their smartphones whilst driving. Many studies from across the world prove that drivers using phones are slower to respond than those who are just over the drink-drive limit. It is dangerous to use a phone – even hands free when driving.”

To encourage drivers to stop using their phones while on the road, Confused.com have teamed up with the iPhone app ‘DriveSafe.ly’.The app speaks email, SMS, Facebook and Twitter messages aloud allowing drivers to concentrate on the road and stop texting while driving.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Our research shows that although people are aware of the consequences involved, they struggle to tear themselves away from their mobile phones and social media. Using these devices while driving is incredible dangerous and app’s such as DriveSafe.ly which are designed to protect drivers should be welcomed.”

For a free download of ‘DriveSafe.ly’, customers can visit the Confused.com driving apps page.

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Payday Loans Company Helps Build A Brighter Future For African Villagers Through Savings Scheme Sponsorship

Payday Express, a British provider of short-term consumer finance, is helping to promote the saving habit among hard-pressed villagers in Uganda and Kenya, through regular donations to the Build Africa charity.

Build Africa aims to establish a better long-term future for people in rural Uganda and Kenya by investing donations to build and develop schools and education, and by empowering adults to save their way out of poverty and make emergency finance accessible to community members.

Payday Express, a leading provider of fast payday loans in the UK has set up a monthly donation to Build Africa to sponsor the set-up of Build Africa village savings and loan associations (VSLAs).

These associations are set up and run as self-managed groups that work by pooling the savings of the group members. They offer members a safe haven for their money, which is in turn used to provide small loans for members, and helps maintain a welfare fund, offering short-notice emergency financial help to those who need it.

This month’s donation from the payday loan provider will go to support Umoja B VSLA group based in Kiryandongo District in Western Uganda.

Over the next year the funds donated each month by Payday Express will help Build Africa set up six VSLAs.

Payday Express administrator Kristina Winch said: “It feels good to work for a company with a strong focus on social responsibility. “We regularly donate money to various charities with our ‘pay a pound to dress down on Fridays’ programme, along with other ad hoc initiatives.

“But it’s great to be developing a long-term partnership with one charity that’s doing such a great job to help poor people improve their own futures.”

Operations manager Sarah Carroll added: “The work that Build Africa is doing with the VSLA projects to help poor families save and invest their way out of poverty is commendable, and we can’t wait for our donations to extend their reach into more communities.”

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Confused.com Reveals Car Insurance Prices Rise By More Than 12% Year-On-Year

Confused.com has revealed that the price of car insurance has risen by more than 12% year on year.

According to the Confused.com/Towers Watson Car Insurance Price Index, drivers have been lumbered with an average year-on-year rise of 12.3% in the cost of comprehensive motor insurance cover – this equates to a£92 jump in just 12 months.

The biggest annual price hikes affect postcodes in the North of England. As of quarter three 2011, Bradford has suffered a 27.5% year-on-year rise in the cost of average comprehensive cover and Oldham has fared even worse with a 27.9% year-on-year increase. Liverpool and Manchester have also seen insurance prices driven up significantly as has the Ilford area of Essex.

Third party, fire and theft (TPFT) customers have not gone unscathed however, suffering an annual rise of 19.9%, equating to an increase of £192 over 12 months.

This rise of 12.3% year-on-year is especially significant when compared to the Consumer Price Index – a measure of inflation – which currently stands at 4.5%, making the rises in car insurance prices almost three times as high as inflation in the UK. The national average comprehensive car insurance premium currently stands at£843.

Top five UK areas with the highest annual premium rises year-on-year, based on the Confused.com/Towers Watson Car Insurance Price Index are Oldham (27.9%), Bradford (27.5%), Liverpool (26.8%), Manchester(26.6%) and Ilford (23.7%).

The five UK areas with the lowest annual premium rises year-on-year include Perth (0.3%), Kirkwall (0.8%), Motherwell (2.2%), Dumfries (2.4%) and Edinburgh (2.5%).

Despite the year-on-year hikes, there is some good news for drivers as the average price of a comprehensive car insurance policy fell by 1.6% in the third quarter of 2011: the first quarterly decrease for over three years.

Gareth Kloet, Head of Car Insurance for Confused.com commented: “The year-on-year picture is quite worrying as some drivers are being hit with more than 25% increases. Car owners in the affected areas are going to have to be as savvy as ever to find the cheapest and best deals for them by shopping around.”

For a more detailed look at the latest index, interested parties can visit: http://www.confused.com/infographic/car-insurance-interactive-2.

Over 4 million quotes are used in the construction of each quarter’s car insurance price index – this makes it the most comprehensive insurance index in the UK.

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SecureTrading Helps Companies Expand Abroad With Brace Of International Currency Solutions

SecureTrading helps companies expand abroad with brace of international currency solutions.

In an increasingly competitive domestic market, many UK retailers are seeking to expand overseas. Ecommerce Expo 2011 will see SecureTrading, the UK’s leading independent payment processor launch their Dynamic Currency Conversion (DCC) and Sofortüberweisung solutions to assist customers expanding internationally.

DCC allows credit cards holders to have the cost of a transaction converted to their local currency when making a payment in a foreign currency, so they instantly know the price, therefore boosting their propensity to buy.

DCC also enables retailers to generate new revenue from transactions they are currently accepting, because they can earn commission on currency conversion.

Sofortüberweisung allows customers to pay merchants from their internet bank account, again with the benefit of dramatically reducing the risks of chargebacks. Sofortüberweisung is widely used in Austria, Belgium, Germany (51.4%* of all Germans prefer to use Sofortüberweisung) and to a lesser extent the Netherlands and the UK.

Tim Allitt, Head of Sales & Marketing, SecureTrading, said, “Successful expansion in one country can be a springboard for further success elsewhere and it’s key to provide the right methods of payment in particular markets. By launching Dynamic Currency Conversion and Sofortüberweisung, SecureTrading is demonstrating its international credentials and helping its customers grow in new markets by providing them with the correct tools to do business.”

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Prudential Reports Britons Favour Spending On Holidays Over Saving For Retirement

Prudential has revealed that nearly three million working age adults will prioritise going on holiday over continuing to save for their retirement as their finances are squeezed.

The survey asked non-retired adults in the UK to outline their spending priorities when faced with a reduction in monthly expenditure as incomes are frozen for many and living costs increase.

Prudential’s research also found that an estimated 2.5 million Britons (or 10 per cent of those who have started saving for retirement would, if forced to make the choice, continue to spend money on nights out with friends and trips to the cinema ahead of maintaining payments into their pensions.

In a similar vein, more than 2 million would choose clothes shopping or going to the hairdresser ahead of payments into their retirement savings.

The figures highlight how saving for retirement is less of a priority for many in the current financial climate. Having previously revealed that more than 1 in 3 non-retired UK adults have no private or company pension, Prudential’s research has also found that almost a quarter wait until they are 31 years old before paying anything into a pension.

Vince Smith Hughes, Head of Business Development at Prudential, said: “Given the choice, many of us would opt for the immediate benefits of a holiday or a night out with our friends over saving for retirement. However, I’m sure we would all like to be able to continue topping up our tans occasionally or going out for meals after we have retired. So it is really important to strike a balance and keep building up a pension that can support the lifestyle we want to have in later life.

“As people tighten their belts it is important to think about the long-term impact of financial decisions and spending patterns. Those looking to maximise their retirement income should start saving as much as possible as early as possible in their working lives. Even small contributions can make a significant difference to a pension if invested early. And a consultation with a professional financial adviser will help you make the right long-term and short-term financial decisions.”

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Admiral Staff Win Trip To See Wales Play France

Admiral has given two members of staff a dream trip to Auckland to see Wales play France in the semi-finals of the Rugby World Cup.

Craig Jenkins from Swansea and Julia Pring from Cardiff each won the opportunity to attend the game, which kicks off at 9am GMT in Eden Park on Saturday.

After the Welsh win last Saturday, the car insurance specialist began organising the prize together with the Welsh Rugby Union. On Monday, staff received an email announcing the competition. However, in order to be in with a chance to win, staff had to answer the question “How many WRU/Admiral jerseys will the Welsh National team use for the 4-match autumn series and RBS 6 Nations games each year?”. Not an answer easily found on the Internet.

Craig and Julia were able to work out the number, 256, and were the lucky two chosen to go. They left from Heathrow at about 4pm on Wednesday 12th October and will arrive in New Zealand on Friday.

On winning the prize, Julia from Admiral’s Customer Service department in Cardiff said: “When they told me I just broke down in tears; I was so excited. I had been talking to my friends about how amazing it would be to go to New Zealand for the semi-final and at the time it was just something we could dream about. I can’t believe I’m actually going.”

Ospreys fan Craig Jenkins, who works in the company’s Customer Service department in Swansea added: “I’m still pinching myself. Everyone’s been so excited for me but I think they’re probably quite jealous too. I really am over the moon; it’s like winning the lottery.”

Admiral is the official shirt sponsor of the Welsh national rugby team. The partnership has proved a big hit with staff who have benefited from discount on shirts, tickets to home games and even visits to the office from some of the squad.

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Business Monitor International Warns Of China’s Economic Slowdown

Business Monitor International (BMI) has released the latest special report, “China 2012: From Miracle To Meltdown” outlining a case for a severe growth collapse in China driven by declining money supply growth rate, accelerating inflation and external slowdown with a threat of a double dip recession in the US.

According to BMI, the bearish outlook for China’s economy is more credible now than at any point in recent history. With China’s housing market exhibiting characteristics typically seen at the end of a bubble, a steep drop in house prices as developers offload inventory would pose a risk of a cash crunch to businesses operating in China, especially property developers and small and medium enterprises (SMEs). As the repayment capacity of loans given to local government investment vehicles increasingly comes under threat, BMI also expects a pronounced correction in investment spending and instability in China’s banking sector.

From banking sector exposure and weak fiscal and monetary position, the report also focuses on China’s consumer market and its ability to shoulder the burden of growth should Chinese export growth fall due to a weakening US dollar and lower import demand from the US and Europe.

Moreover “China 2012: From Miracle to Meltdown” assesses the impact of a Chinese hard landing on the regional economy. While no country would be immune from a Chinese hard landing, BMI argues that Australia is most precariously positioned to suffer the consequences of this severe economic slowdown. A Chinese hard landing would push the Australian economy over the edge, likely ushering in a recession and potentially triggering a financial crisis.

Given the importance of China to the global economy, the report enables global investors, strategists and decision-makers across the corporate spectrum to identify business growth opportunities, avoid market risks and aid strategic planning activities over the short, medium and long term.

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Confused.com Reveals Motor Maintenance Ignorance Endangers The Safety Of Others

Confused.com has revealed that drivers know very little about car maintenance with a worrying 72% unaware how to check brake fluid levels, leaving them in potential danger at the wheel.

Moreover, 69% of motorists have no clue how to check their engine coolant, a fluid which prevents a vehicle from overheating and if left unchecked can cause serious damage to the motor.

In fact, 57% of drivers don’t even know how to change a tyre, while 47% are also unable to even locate the jack.

As Car Care week kicks off, Confused.com is urging drivers to take the time to get to know their motors and keep their cars roadworthy in a bid to keep Britain’s drivers and pedestrians safe.

Motorists are so laid-back about car maintenance that 48% haven’t even looked at their car manual, but with over 28.5 million cars on the road, Brake the road safety charity and Confused.com are urging drivers to love their cars more in a bid to cut down on accidents.

Katie Shephard, spokesperson for road safety charity, Brake, said: “Driving is one of the most dangerous things people do on a daily basis. It’s vital that all drivers are doing regular maintenance checks of their vehicle to ensure they are safe on the road. Shockingly, five people are killed and a further 65 are seriously injured on UK roads every day. Brake urges all drivers to check their vehicle regularly to ensure they’re not endangering their lives, and the lives of innocent road users.”

Gareth Kloet, Confused.com Head of Car Insurance added: “Car maintenance is essential. We all love a bit of TLC so don’t forget your cars need a helping hand to. A lack of car maintenance can cause road safety issues and 72% of drivers don’t know how to check their brake fluid. If a car has insufficient brake fluid, air can get into the brake lines and your vehicles ultimately could stop working and cause serious problems, not only for you but also for others.

“Make sure you do regular checks on your car and also ensure you have breakdown cover just in case the worst happens.Shop around for the breakdown cover you need as costs can vary greatly between providers; a comparison site is a great way to do this.”

To encourage the nation to care for its cars, Confused.com has put together a car maintenance video offering a solution to some of the problems highlighted.

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Confused.com Research Reveals Weather Conditions Are Affecting Home Insurance Claims

From an Indian summer to predicted snowfall in a matter of weeks, Britain’s weather remains a mystery with adverse conditions severely affecting home insurance claims, Confused.com has found.

In the last year alone, storm related home insurance claims have risen by 68% overall, with policy holders in Central Scotland 117% more likely to claim for a storm.

Storms are not the only weather conditions affecting home insurance claims with lightning striking twice for 1 in 10 unlucky UK residents; particularly in Wales and the West where people are 89% more likely to be hit by lightning than the UK average. Surprisingly, London, known for its lack of green space is the area that is 47% more likely to make claims due to falling trees.

With unpredictable weather likely to continue as winter approaches, Confused.com is reminding customers to check their home insurance and make sure they are covered for adverse weather.

Mark Gabriel Head of Home Insurance said: “The consequences of having insufficient home cover are potentially severe. Many Insurers will offer home emergency cover as an optional extra on their contents policies – you will either be charged extra on your standard annual premium, or pay a monthly subscription fee.But make sure you shop around for cover as premiums can vary greatly between providers; a comparison site is a great way to do this.”

Interested customers can read the full ‘lightning strikes twice’ home insurance research here at Confused.com:
http://www.confused.com/press/releases/lightning-strikes-twice-for-nearly-1-in-10-customers-who-claim.

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Northern Rock Launches New eBond Issues

Northern Rock has launched two new issues of its new online fixed rate e-bond account, providing competitive interest rates for those savers who wish to operate their accounts online. e-bond (issues 18 and 19) will are available now.

With a minimum deposit of just £1, customers can benefit from a competitive fixed rate of interest until 20 October 2012 on e-bond issue 18, which pays 3.00% gross*/AER** annually. Alternatively, they can choose e–bond issue 19, which pays 3.25% gross*/AER** pa, fixed until 20 October 2014. Monthly interest rate options are also available on all three products. Accounts must be opened and operated online and initial deposits can be made online by electronic transfer from another bank or building society.

Account holders can choose to have their interest paid annually (interest is calculated daily) on 5 August, or monthly (the monthly interest rate is 0.30% below the gross* annual rate) on the 7th of the month (available next business day).

Additional deposits to the bonds can be made during the offer period up to a maximum of £500,000 per customer. The fixed rate bonds (Issues 18 and 19) are non-redeemable and none of the issues allow any withdrawals or closure during their respective fixed rate periods. The bonds are offered on a strictly limited issue basis and will be withdrawn without notice once fully subscribed. Once withdrawn, no further deposits will be accepted.

Full product details are available at Northern Rock’s website at northernrock.co.uk/savings.

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Prudential Reveals More Than A Third Put Their Pension Savings On Hold

Prudential has revealed new research which shows more than a third (35 per cent) of British adults who are yet to retire have stopped paying into their pension pots.

The results of the nationwide study show that one in three (33 per cent) of those who have put pension payments on hold have done so because they are out of work, while over a quarter (27 per cent) say that they can no longer afford the contributions.

More than two-fifths (43 per cent) of those who have stopped paying into their pensions do not plan to start again, despite the long-term impact it will have on their retirement income.

Prudential’s calculations show that irregular contributions could reduce the values of savers’ pensions by thousands of pounds. In fact, a saver who misses a year of gross contributions of £2,400 could see their final pension fund reduced by £7,000*.

Vince Smith-Hughes, head of business development at Prudential, said: “Tightening your belt when times are hard is sometimes necessary, and putting pension contributions on hold might seem an easy way to save money; however, neglecting pensions today means throwing money away tomorrow, as savers will miss out on perks, such as tax relief and employer contributions.

“Abandoning your pension pot really should be a last resort when times are tough. By getting into the routine of saving into a pension as early as possible, savers will be able to ensure the comfortable retirement that they deserve.”

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Confused.com Find Bald Tyres Can Mean Insurance Claims Are Denied

Confused.com has revealed that drivers could see their motor insurance claims denied and face fines of up to £10,000, simply by failing to take proper care of their tyres.

One defective or bald tyre could see drivers hit with a fine of up to £2,500 and three penalty points or up to £5,000 and 6 points for two defective tyres.

In fact if all four tyres were defective, the maximum fine could be as much as£10,000 with a whopping 12 penalty points.

As Tyre Safety month kicks off, Confused.com’s new poll of drivers also reveals that many motorists don’t know how to keep their tyres roadworthy. The company interviewed 2,000 motorists and found that:
– 57% of drivers don’t know the correct tread depth for their tyres which is 1.6mm
– 58% don’t know the correct pressure of their tyres
– 18-24 year olds are least likely to know how to put air in their tyres
– 87.4% of people do not change their tyres for the winter weather

According to the poll, 58% of people do not know what the correct tyre pressure is for their vehicle with18-24 year olds being the key culprits. On top of this, 1.4% of people don’t even realise that their tyres need air.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Tyre maintenance may not sound like the most exciting topic on the planet but is important to basic road safety. If your tyres have too much air or too little this can wear the tread of tyres down quickly.”

“If a tyre has a tread of less than 1.6mm it is qualified as an illegal tyre. If the police stop someone with an illegal tyre they will be fined up to £2,500 for each illegal tyre. If someone is in a crash and their tyres are below the legal tread limit, a fine can be issued causing their insurance to be denied.”

“Tyres must be checked on a regular basis to ensure they are up to road safety standards. An easy way of checking tyre tread is the 20p check. Place a 20p coin into the main tread of the tyre and if the rim of the coin is covered by the tread this shows it is a legal road worthy tyre.”

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