Category Archives: Financial Services

Financial Services

Credit Cards, Debts, Financial, Financial Management, Financial Services, Loans, Money, Personal Finance

Homeowners Could Benefit From Latest Fixed-Rate Deals

Now could be a good time to find a new fixed-rate mortgage deal, according to financial solutions company Think Money.

With rates on many fixed-rate deals recently falling – and with uncertainty over when the base rate could rise – fixed-rate mortgages could become an increasingly attractive option for homeowners.

In July, Yorkshire Building Society cut the rate on its best five-year fixed-rate deal to a market-leading 3.49%, with an arrangement fee of £995. Borrowers who don’t want to pay this much up front can get a rate of 3.69% with a £95 arrangement fee.

According to Moneysupermarket, the best five-year fixed-rate deals before this offered rates of 3.79% (Chelsea Building Society) and 3.89% (Nationwide). Even those deals carried lower rates than many of the two-year deals available only a few months earlier.

The recent fall in the interest rates available may reflect intensifying competition between mortgage lenders, says an expert at Think Money.

“Many economists now believe we won’t see an increase in the base rate until late next year, which may have made some mortgage lenders more relaxed about offering lower interest rates. The fact that some of today’s five-year deals offer better rates than some of the two-year deals available a few months ago suggests that mortgage providers are serious about their lending.

“This could make five-year fixed-rate deals a very attractive option for many homeowners. Only a few months ago, such low rates over such a long period would have been unthinkable.

“However, it is worth remembering that tracker mortgage deals still tend to offer lower rates than fixed-rate deals at any given time – so some borrowers may prefer to go down that route instead.”

“Ultimately, the right mortgage deal depends on the borrower’s circumstances – and as such it’s often a good idea to seek advice before they make a decision.”

Lower rates mean lower monthly payments for homeowners. Furthermore, it could reduce costs for those considering borrowing more on their mortgage for other purposes, such as debt consolidation.

“Consolidating debts into a mortgage can greatly reduce the month-to-month cost of repaying those debts, because they are essentially spread over the entire duration of the mortgage. And when mortgage rates are low, this could prove to be a very cost-effective way of dealing with debt.

“However, we advise anyone considering doing this to think carefully, as it will increase the size of the borrower’s mortgage. Furthermore, taking longer to repay the debt may mean the total cost is higher in the long run, and if for any reason they can’t keep up with their payments, they may risk losing their home. But as long as the borrower is sure they can keep up, it could make very good financial sense.”

Via EPR Network
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Banks, Bonds, Checking & Savings, Financial, Financial Services, ISAs, Mortgage, Personal Finance

Northern Rock Launches Second Annual Branch Contest For Kids

Northern Rock is helping to keep kids entertained this summer holidays by holding a nationwide competition.

The contest, which started on the first day of the school break, focuses on the theme of superheroes in an effort to spark kids’ imaginations, and all of Northern Rock’s 74 branches are taking part.

For a chance at winning £100 in High Street vouchers, children have the option to draw their own superhero, colour in a template design supplied by Northern Rock, or dress up as a superhero and send a photograph of themselves in costume to their local branch.

The competition is split into three age categories – up to four years, five to nine years and ten to 16 years of age. An independent representative at each branch will choose a winner from each age group, each of whom will win a High Street voucher worth £25. All branch winners will then progress to the national judging and their chance to win a High Street voucher worth £100.

To enter, interested parties can visit any of Northern Rock’s branches and pick up an entry form, which can either be completed in branch or taken away and returned no later than 3rd September 2011. All winners will be notified by 24 October 2011. Full terms and conditions are available in branches.

Launched in April last year, the Little Rock’s top-paying access account at 3.00% gross* pa/AER**, is available through Northern Rock’s branch network, and by post, to customers aged under 16. It must be opened with an appropriate adult named on the account as a trustee.

Little Rock can be opened by cash, cheque or by transfer from an existing Northern Rock account. There is a maximum balance limit of £10,000, and all trustees are required to sign for any withdrawals. All withdrawals are notice free.

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Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Business Monitor International Releases the Latest Analysis of Japan’s Post-Crisis Economy

Business Monitor International (BMI) has released its latest special report, “Japan After The Quake: Resurgence Or Another Lost Decade?” examining the state of Japan’s economy and exploring the risks and potential areas of outperformance across six industries covering retail, agribusiness, IT, automotives, commercial banking and power.

The report outlines BMI’s views on Japan’s recovery and the future prospects of the Japanese economy, focusing on the longer-term implications of the disaster.

While it has been encouraging how quickly the economic downturn has stabilised, Japanese consumers are unlikely to start spending again soon. BMI expects that the Japanese consumer to place a greater emphasis on price over quality. The reconstruction efforts will divert capital resources away from other sectors of the economy, and a slowdown in China will impact the export sector.

Further, the March earthquake and tsunami has had a major impact on Japan’s ICT and retail industries, with the ICT sector struggling especially to resume full operations on the back of supply chain disruptions and power shortages. Faced with a precarious domestic outlook, ICT firms will, instead, turn to growing emerging market demand to boost their revenues, a strategy that is also being pursued by the Japan autos sector with varying success.

That said, other sectors are better poised to capitalise on the “back-to-basics” spending of consumers with major convenience store retailers outperforming in this challenging environment. While March’s retail sales growth fell to its worst level since 1998, retail sales in recent months have bounced back, underlining a recovering demand outlook for Japanese retailers.

More broadly, the longer-term economic outlook remains fraught with risk, with Japan staring at another lost decade of economic stagnation. Indeed, BMI predicts that consensus expectations for Japan’s GDP growth of 2.9% in 2012 are too optimistic.

BMI’s portfolio of products provides comprehensive analysis across Japan’s industries and enables global investors, strategists and decision-makers across the corporate spectrum to assess and evaluate how far Japan has come since the crisis in terms of economic stabilisation and industry consolidation.

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

Confused.com Poll Reveals UK Drivers Want a Crackdown on Drug Driving

A new poll from Confused.com reveals that ‘Crack down on drug driving’ is the message from drivers to the UK government. 70% of drivers say they don’t think enough is being done about this problem and 71% want to see the government do more to combat drug driving.

25-34 year olds are most likely to drive while on drugs (8% admit to having done it), according to the Confused.com poll, while drink driving is most likely among 45-54 year-olds (34% admit to having done it).

The ‘drug and drink driving’ poll of 2,000 drivers in the UK reveals 37% of drivers think drug drivers are less likely to get caught than drink drivers (8% say more likely and 55% see no difference). Meanwhile, 25% of men and 18% of women believe drug driving is more widespread than drink driving on UK roads despite figures showing 5% of drivers admit to drug driving and 28% of drivers admit to drink driving. Moreover, more men admit to drink driving than women (38% as opposed to 19%). Most notably, the poll reveals 77% of women want to see the government do more about drug driving, compared to 65% of men.

The Department for Transport reported a fall in alcohol-related accidents last week. Mike Hoban, Chief Marketing Officer for Confused.com, thinks that drug driving might be a hidden menace on our roads. He said: “The Government has been boasting about cutting public service advertising but it’s clear that people are concerned about the potential dangers of drug-driving. The Government has a responsibility to let drivers know that the penalties are severe and that drug-drivers are a danger to themselves and a danger to others.”

The penalties for drug driving are the same as for drink driving: a drug driver will receive a minimum 12-month driving ban, a criminal record and a fine of up to £5000.

The conviction for driving (or attempting to) when unfit through drugs is DR80 and this stays on the driver’s license for 11 years (attracting up to 11 points). DR90 is the conviction for being in charge of a vehicle when unfit through drugs. This stays on licenses for 4 years and can attract 10 points.

Notes to Editors:
The poll of 2000 drivers in the UK was carried out by Onepoll on behalf of Confused.com and all figures have been rounded up to the nearest 1%

Information on penalties and laws around drink driving and drug driving sourced from direct.gov.uk.

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

Standard Life Reveals Brits Tend To Miss Bargain Investments

Standard Life has found that the majority of UK consumers can spot a good deal when it comes to a holiday, but are likely to miss out on a good deal when it comes to their finances.

In a UK wide consumer poll and prize draw in which 8,500 people took part Standard Life found that almost seven out of ten (70%) people would choose a holiday of a lifetime worth £5,000 even if they had to wait five years, rather than settle on a luxury short break this year worth £640*. £5,000 is how much a pension could be worth if £640 was invested into a pension plan each year for the next five years**.

The poll and prize draw, run by long term savings and investment provider Standard Life, highlighted that the UK public know how to spot a good deal when offered one and are willing to wait five years to make their holiday dreams come true. But this savvy forward looking culture is yet to filter through into finances, with almost half (45%) of Brits planning just one to 12 months ahead and a further one in six (17%) failing to make any financial plans at all, according to Standard Life’s research***.

Standard Life’s John Lawson said: “Consumers are keen to spot a good deal which is why voucher codes and group buying websites have become so popular. But many only apply this bargain hunt culture when buying goods, not when it comes to their financial planning. Consumers who take a short term view to their personal finances are likely to miss out on long term tax efficient products that offer far greater benefits than your standard savings account. For example, if you’re a lower rate tax payer and pay into a pension, the government gives you 20% extra on top straight
away in tax relief. That means a pension contribution of £100 a month is instantly worth £125 a month. People’s great bargain hunting skills are being wasted if they are not picking out these great investment deals.”

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Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Business Monitor International Predicts Slower Growth In The Angola Construction Industry

Business Monitor International (BMI) forecasts an annual average growth of 8.3% y-o-y between 2011 and 2015 in the construction sector, which will be slightly reduced from the previous high rate.

Angola has experienced a post-civil war reconstruction boom, aided by the spending of oil revenues and large credit lines. The infrastructure sector benefited from the rapid pace of growth in the construction industry. Although sky-high property prices and vast oil wealth have seen the Angolan capital Luanda dubbed the “new Dubai”, new data for Angola’s construction industry illustrates downside risks that expect to slow the future growth of the infrastructure market.

The Angola Infrastructure Report provides an overview of all the major areas of the infrastructure sector including building materials, transport infrastructure, construction industry and utilities. It also features BMI’s market assessment and 5-year forecasts to end-2015 covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development.

BMI previously highlighted the pertinent threats posed by political risk across a number of African nations. The violent unrest and political instability seen in Libya and Cote d’Ivoire has underlined the importance of policy continuity for investment into the Africa infrastructure markets.

BMI’s portfolio of products and services provides comprehensive analysis of the global infrastructure industry and enables industry professionals, strategists, sector analysts and investors to evaluate and manage the risks arising in the infrastructure markets.

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Financial, Financial Information, Financial Services, Insurance, Insurance Services

Diamond Reveals Nation’s Children Sick Of Car Journeys

Diamond has released the results of a new study that reveals one in four British children suffer from travel sickness. The research also suggests the affliction could run in the family.

The study of 2,000 parents by the women’s car insurance specialist has shown even those whose children aren’t regularly travel sick prepare for the worst with two fifths taking the precaution of keeping sick bags in the car just in case.

And for the parents of children who do get car sick, three quarters have to stop and pull over for their child to be ill, travelling an average of just 35 miles before halting the journey. The research also found two fifths of unlucky parents have been left cleaning up after their child was ill in the car mid journey, while a similar number avoid long car journeys altogether because of the stress of their children possibly getting sick.

Interestingly, the research suggests parents who suffered from travel sickness as a child themselves are five times more likely to have a child who also gets ill in the car, compared to parents who did not get sick as a child:

– 41% of parents who suffered from travel sickness as a child have a child who also suffers.
– 8% of parents who did not suffer from travel sickness as a child have a child who suffers.

Although many children will grow out of being car sick, the findings reveal this isn’t always the case. Three in five parents who said they suffered from travel sickness as a child, still experience symptoms as an adult.

Diamond’s managing director, Harriet Neale said: “Car journeys with children can be difficult at the best of times, but when you throw in travel sickness, they become even more stressful for parents and children alike.

“Our study certainly suggests travel sickness runs in the family so many parents will empathise with their children and hopefully know a few remedies to make car journeys that little bit easier.”

The study found that many respondents found opening the windows and getting air circulating around the car as the best way to alleviate the symptoms of travel sickness, with three quarters saying it works. Almost half of parents said travel sickness pills or avoiding looking down will stop their children feeling sick, while acupressure wristbands, chewing gum and closing eyes are the least likely to work.

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Debts, Financial, Financial Services, Loans, Money, Personal Finance

New System Means Faster Loans For Payday Express Customers

Innovative short-term credit service Payday Express has improved its operations with the implementation of a new automated Loan Management System for managing loans.

The design of the new system, named Nexus, means that customers will receive a much more efficient service when they need loans till payday.

The new system has been fully integrated with the company’s website, and its automated payment service will enable many customers who apply for fast payday loans online to receive their funds within an hour of applying.

It is also great news for Payday Express staff, who will have fewer manual functions to perform and more time to focus on other areas of the company’s operations to improve efficiencies and ultimately customer service.

The new process is the result of two years’ dedicated, complex work by a development team made up of in-house staff and staff from the company’s head office, who are delighted with its successful launch and will continue to seek ways to improve it.

Such was the level of determination to succeed that some team members worked happily until 2:30am on Sunday 10th July to ensure a successful migration from the previous system and successful deployment of the new system.

Junior Business Analyst Jamie Clifton, who worked on the project for its duration, said: “We probably all put on half a stone over the weekend, due to the amount of food we consumed to keep us active!”

“It’s very satisfying to see something you designed with pen and paper transform into a visual prototype on screen, then continue its development lifecycle to become a working, fit-for-purpose system. The version of Nexus released to business users is a ‘light’ version of what is in the pipeline and a number of additional hugely beneficial features will be available in the near future.”

Operations Manager Sarah Carroll added: “The successful launch of our new loan management system has been the result of a commendable effort from the project team. It will give us a strong platform to be able to grow the business and meet our customers’ needs more efficiently.”

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“You’re Not Alone” Squeezed-Out Borrowers Assured

A fear of rejection is driving more professional people to seek out non-prime motor finance, according to a major lender to those with impaired credit records.

The Funding Corporation believes that a growing number of its customers are those who realise that an application to a mainstream lender for car finance is likely to be declined.

That’s because even minor blemishes on a credit file, such as a few missed credit card or mobile phone payments, can now add up to the rejection of a loan request its says.

Now the company is seeking to assure such customers that they are far from alone in possessing a higher salary which is accompanied by a low credit rating.

A general practitioner, a university professor and a commercial airline pilot are among those who have recently approached The Funding Corporation for help to buy a car.

The company, recently named “Responsible Lender of the Year” by Credit Today, says those with concerns realise that a refused application could damage their credit status even further.

“For this reason, they often de-select themselves from high street lenders rather than have an unsuccessful credit search show up on their file,” said Richard Cox, Head of Motor Operations.

“If we are able to accept them for finance, then they get the loan they need and the opportunity to start repairing their credit record by keeping up repayments,” he added.

The Funding Corporation, said Richard, finds that an increasing number of applicants likely to be considered a “bad risk” by other lenders are younger professionals.

“In these cases, we look more closely at the reasons for any past difficulties and the likelihood of any issues recurring, as well as the person’s ability to service the loan,” he said.

“Often we find that there is no evidence of a chronic repayment problem, but simply past lapses which have since been remedied and are unlikely to reoccur.

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Confused.com Finds £4,000 Average Annual Car Insurance Cost For Young Drivers

Confused.com has revealed that car insurance costs for 17-20 year olds have crashed through the £4,000 barrier, with the average 17-20 year old male now paying a staggering £4,006 per year for comprehensive cover.

This is the first time since the Confused.com/Towers Watson Car Insurance Price Index began in 2006 that average annual car insurance costs for young men have exceeded £4,000.

Bizarrely, young driver car insurance costs for males were around £1,000 lower if the driver is married and adds their partner to the policy.”

In order to afford a £4,000 a year premium and cover the cost of running a car, the average single male would need to spend £6,500 a year – almost half of the average salary of full-time employees at this age. This effectively prices them out of the market.

Gareth Kloet, Head of Car Insurance for Confused.com commented: “For young male drivers it has never been more important to shop around for the best price. Our consumer research shows that 50% of under 25s could save up to £556 on car insurance* by using Confused.com. This is one way to help combat these rises.”

The news isn’t only bad for young drivers though. The average cost of a comprehensive car insurance policy across the UK stands at £858 (as of the end of June 2011), marking a year on year rise of £170.

Despite the huge increase in the last twelve months, prices are still continuing to rise. In Q2 of 2011, prices inflated by an average of 25% compared to Q2 2010.

For more information on car insurance rises for young drivers, or to see the interactive car insurance infographic, interested parties can visit Confused.com for more details.

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Confused.com Reveals Over A Quarter Of UK Motorists Have A Pet Name For Their Car

Confused.com has revealed new research that shows 33% of car owners initiate a daily car-versation with their motors, talking to them not only about day-to-day matters and their frustrations on the road, but also about relationships and personal problems.

The average UK motorist considers their car to be female, with a personality that is sensible (25%), cute (8%) or playful (7%). Findings also confirm that 16% of men see their cars as women, choosing words such as sexy (6%) and mischievous (5%) to describe the personality of their vehicles.

Peter Collett, Psychologist and author of ‘Driving Passion – The Psychology of The Car’ suggests that naming your car can reduce the risk of incidents on the road.

“A majority of car owners feel the need to give their car a distinctive name, usually an affectionate title that expresses how they feel about their car and how they regard it as being different from everyone else’s. The drive to individualise one’s car in this way is very widespread and it also lays the foundation for how people treat their cars. By giving their car a special name, drivers are treating their car as something that deserves to be cared for – a friend, a pet, a companion, sometimes even a lover.”

So, to encourage the nation to care for its cars, Confused.com has developed an online car name generator, which automatically generates a name for the user’s car. Customers simply answer a few questions about their motor such as colour, personality, number of years of ownership to generate a name. User’s will also be able to print out a certificate, which can be kept with vehicle documents or passed on to the next owner.

Gareth Kloet, Head of Car Insurance: at Confused.com said: “Nearly one fifth of motorists who name their cars believe it encourages them to be more careful on the roads. We have nicknames for our friends, partners and even pets so why not our cars. Drivers with an emotional attachment to their vehicles are more likely to take better care of it on and off the road. We’re calling for all motorists to use the car name generator, and start caring for your car.”

Additional findings from the survey also uncovered a variety of unusual pet names for cars including Albie the great, Baldrick, Claris, Elektra, Lemmy, Michaelangelo, Snoop, Talulah, Florence (the machine) Horatio, Fadgehammer and Yannis.

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New Deal Secures Chester Future for Finance Group

An award-winning finance group has signalled its long-term commitment to Chester by signing a new ten-year deal on its premises just outside the city.

The Funding Corporation, which started life in Chester almost a decade ago, employs around 240 full-time staff, 160 of whom are located at International House on Chester Business Park.

Now the group has agreed a ten-year extension of the lease of its headquarters, and has started on a major re-fit of the 14,000 square foot premises to allow for continuing development.

The £150,000 refurbishment project is being carried out almost exclusively by suppliers and contractors from the region as part of The Funding Corporation’s “buy local” policy.

Everything from the carpets to the new air conditioning system – and even the specially created graphics for the walls – will be sourced from nearby enterprises.

According to Managing Director David Challinor, the wide variety of commerce and industry in the area was one of the reasons why the group originally chose Chester as a business base ten years ago.

He says that The Funding Corporation’s decision to remain in Chester was also influenced by the prospect of being able to draw on many different types of locally available skills:

“We’ve built up a fantastic staff team here, from young trainees to experienced finance professionals, many of whom were already based here in Chester,” said David.

“In fact, we have also linked with West Cheshire College to provide training opportunities and work experience for students who would like a career in the financial services sector.

“We are wholly committed to Chester, and that is why we had no hesitation in negotiating a renewal of our lease which will take us to 2020 and beyond,” he added.

The company provides motor finance for people whose credit status might have been damaged by previous loan repayment problems.

It is, said David, a fast-growing sector as mainstream lenders, such as banks, continue to tighten up on their criteria and accept only the very lowest-risk customers.

The cars against which the company lends are supplied by its subsidiary business ACF Car Finance Limited which operates a national network of car showrooms.

The Funding Corporation’s ethical business policies were highlighted May 2011 when it was named Britain’s Most Responsible Lender in the Credit Today Awards.

The title is a top accolade in the prestigious annual award scheme for finance companies, and contenders included major high-street lenders such as Barclays and the Co-operative Bank.

International House is leased by The Funding Corporation from Prospect (GB) Ltd, one the of the country’s fastest-growing property development and investment companies.

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Northern Rock Launches New Cashback Incentives And Cuts Selected Rates

Northern Rock has launched a new range of mortgages which offer cashback on completion in order to help customers cover the costs associated with moving home or taking a new mortgage.

The range has been designed to appeal to a wide variety of customers and whether they are setting up home for the first time, moving up the property ladder or even becoming a landlord, a cash incentive is likely to be appreciated. With up to £750 Cashback on completion*, the new incentive is available on selected residential and Buy to Let mortgages.

Northern Rock is committed to helping people buy their first or next home. The Company understands that it is an expensive time and wants to help as much as possible. That is why it is offering £500 Cashback on selected residential Everyday fixed rates at 80% LTV, 85% LTV and 90% LTV. The lender has also reduced interest rates on some of these deals by up to 0.30%.

For a limited time only, £750 Cashback is available on all Northern Rock Buy to Let mortgages. The range includes two, three and five year products up to 70% LTV with flat fees, percentage fees and fee free options available.

Northern Rock has also made improvements to its mortgage porting policy following feedback from customers and intermediaries. All new customers completing a mortgage from 25th July 2011 will be able to port their existing mortgage balance or a reduced balance (subject to any applicable ERC if a customer chooses to reduce their balance), and if they need additional borrowing to purchase their next property they will be able to apply for a new product for the additional amount on the terms of the purchase product range available at that time.

Northern Rock has also reduced rates on its 2-Year Everyday Tracker with a £995 product fee, now available at 2.38% up to 70% LTV, or at 2.48% up to 75% LTV. Both of these deals are available to purchase and remortgage customers.

The recent changes are part of a raft of improvements Northern Rock has made to its mortgage proposition over the course of 2011 to simplify its processes and increase consumer choice.

Lloyd Cochrane, Northern Rock’s Head of Lending Products, said: “We are delighted to add our new cashback incentive to Northern Rock’s mortgage proposition, increasing choice and flexibility within the mortgage market, and providing a further helping hand to customers looking to buy their first or next home.

“We continue to listen to what our customers and our intermediary partners tell us. The addition of cashback products to our range and the changes we are making to our porting policy are more evidence of us delivering what our customers and partners want. You can expect to see further improvements from Northern Rock as we continue to build our business and respond to customers and brokers.”

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Prudential Reports Retirement Income Worries And Lump Sum Regrets For Pensioners

Prudential has conducted new research that shows more than two in five pensioners (43 per cent) say they are living a ‘cautious’ retirement as they worry about having sufficient long-term income to get by.

However, despite concerns about making their retirement pots last, the majority of pensioners still take a tax-free lump sum from their pensions when they retire. Nearly eight out of 10 (79 per cent) of those drawing a company or private pension in 2011 took a lump sum from their fund at retirement, compared with 76 per cent three years ago.

The research, exploring the retirement reality for pensioners in 2011, also found that one in 10 (10 per cent) of those who did take a tax-free lump sum either said they now regret the decision or that they had not fully understood the long-term impact it would have on their retirement income.

For many, the option to take a lump sum at the point of retirement is the most tax-efficient way to access some of their pension fund. However, the way in which pensioners use the money from their lump sum is often shaped by concerns around long-term pension income.

More than half (52 per cent) of those who had taken a lump sum put some of the money in a savings account and just over a quarter (26 per cent) invested in stocks, shares or investment trusts.

Vince Smith Hughes, Head of Business Development at Prudential, said: “Most people with a company or private pension fund choose to take a tax-free lump sum at retirement, and for many this proves to be the right thing to do. However, some pensioners are beginning to regret the way they used the tax-free cash. The days of buying a shiny new car or going on an once-in-a-lifetime holiday may be gone, to be replaced by making savings and investments with the lump sum to supplement retirement income.

“There is no one-size-fits-all answer to the financial choices that people need to make when they retire. For example, spending the money from a tax-free lump sum and taking a level annuity with the balance of your fund will effectively fix the level of your retirement income – and for some this may provide the stability they need. Others may wish to explore more flexible retirement products that take into account the effects of inflation.

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Saxo Bank Acquires 25% Stake In Broker Solutions Provider Leverate

Saxo Bank and Leverate announced that they have entered into a strategic partnership in which Saxo Bank has acquired 25% of Leverate. The broker solutions provider offers a full turn-key solution for brokerage companies looking to offer trading capabilities based on the online automated trading application MetaTrader or to complement their existing trading solutions.

Through this acquisition, Saxo Bank and Leverate will continue to enhance their offerings towards institutional segments and retail brokers by adding new trading functionalities. Leverate’s complete solution provides brokers with the services needed to increase their conversions, trading volume and risk management capabilities by offering products integrated to the MT4 and other proprietary platforms. Since its release in 2005, MetaTrader has established itself as one of the most popular non-proprietary Forextrading platforms. Offering advanced functionality, the system is regarded as one of the preferred auto-dealing systems on the market and it is widely used by FX traders.

Stig Pastwa, Chief Commercial Officer of Saxo Bank, commented on the acquisition: “We have seen an increased demand among our institutional and retail clients for automated trading solutions, including MetaTrader. Leverate’s track record and ability to deliver a comprehensive and reliable trading environment has made them an obvious choice as a provider of technology supporting the MT4 universe, which lives up to Saxo Bank’s award winning standard of execution. As an extension to our important business for white-label and institutional clients, we wish to support Leverate with technology and liquidity. While keeping their independence, we hope to assist Leverate in their already impressive growth from which their customers will further benefit.”

In a joint statement, the co-CEOs of Leverate, Ran Strauss and Doron Cohen commented: “Leverate had been approached on multiple occasions by other private equity funds eager to enter into a business relationship, but when we met Saxo Bank, we felt we had encountered the perfect partner. Leverate will continue to provide innovative and comprehensive proprietary solutions for the FX market, and we are proud to be working together with Saxo Bank. Time and time again, Saxo Bank has been recognised as a leading force in the FX industry, and together we plan to continue Leverate’s R&D efforts in the area of technology solutions and related services for brokers and financial institutions. This mutually beneficial partnership will allow our clients to benefit from enhanced top-tier liquidity sources, while Saxo Bank’s clients can have access to our Complete Broker Solution: MT4, Live Feed, Web & Mobile Traders, CRM and Risk Management, powered by Leverate, and fully integrated with Saxo Bank’s core liquidity and execution engine. This partnership will in no way change the management or operations of Leverate and our clients can only benefit from it.”

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Payday Express Encourages Healthy Competition Among Staff

Employees at short-term loan specialist Payday Express are planning to make interdepartmental sporting events a regular feature, following the success of a football match earlier this month.

Staff from the instant approval payday loans company’s Contact Centre were pitted against members of its Collections team in the friendly clash, which was held at the ground of a local semi-professional squad, Bromley FC, in Kent.

The final score was a 12-7 victory for Contact Centre, with team stars Jamie Clifton and David Herron being named men of the match.

HR Advisor Richard Turner said: “It’s great to see that all who took part can take the competitive edge outside work, but still enjoy it as a great team building exercise. It’s events like this which add to the great working environment at Payday Express.”

Operations Manager Sarah Carroll confirmed: “The company encourages friendly competition among staff members, and for staff to socialise outside of office hours in order to develop a sense of unity and comradeship. This in turn aids teamwork in the office, helping us to effectively provide payday advance loans to our customers with great customer service.”

Richard also noted that the enthusiastic support of staff spectators appeared to be a factor in Contact Centre’s triumph. The losing team, however, is determined to have its day at a rematch this week – and is hoping to attract a loyal crowd of supporters to rally that of their rivals.

Payday Express is committed to continually boosting the morale of its staff and actively encourages both players and spectators to attend staff games.

Via EPR Network
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Confused.com Reveal Drivers Are Only Swayed By Price In The Hunt For The Best Car Insurance Deals

Confused.com’s latest survey has found that consumers use price-comparison sites purely because they help slash insurance bills with the minimum of hassle.

More than half of the survey’s 2,600 respondents said that special offers such as cashback or vouchers had absolutely no bearing on their decision to use a comparison site. A further 40 per cent said the only kind of marketing incentive that would appeal to them was some form of discount on their premiums.

Head of car insurance at Confused.com, Gareth Kloet, said: “When it comes to car insurance, consumers aren’t necessarily loyal, so price is key. That’s why using a price comparison site is so important, it gives drivers the opportunity to compare not only price but a range of features. So you can either opt for the cheapest or the best value for money. With Confused.com, the price you see is the price you pay.”

When it came to choosing an insurer, three-quarters of consumers said the only thing that would cause them to switch providers was a cheaper price. Around 15 per cent said they would move to a new company purely because it was a trusted brand, while just 9 per cent said they would switch if the new insurer offered extras such as free breakdown cover.

Unsurprisingly, price was the number one reason respondents gave for using price-comparison sites – more than 90 per cent cited this as a major factor in using these services, and 40 per cent also said they appreciated the fact the sites saved them so much time in their search for the best value cover.

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Saxo Bank Launches FX Binary Touch Options

Saxo Bank, the specialist in online trading and investment, today announced the launch of six Binary Touch Options on its trading platform. The Binary Touch options will initially be offered in six currency pairs; EURUSD, USDJPY, GBPUSD, EURJPY, EURGBP, and AUDUSD. They will be tradable from Saxo Bank’s award winning FX Options Board, where clients are already able to trade regular FX Vanilla Options.

The launch will further extend Saxo Bank’s FX offering and allow clients to trade in the world’s most liquid financial market in a simple and convenient way. A Binary Touch Option differs from a plain Vanilla Option in that the potential gains and losses of a Binary Touch Option position is known upfront, thus greatly simplifying the transaction. Clients may invest not only in which direction the price will move, but at the same time express their views on how far and over what time period.

Unlike other trading platforms that offer similar products, Saxo Bank will offer its clients the ability to close-out their long or short positions at the current market price prior to expiry.

Gustave Rieunier, Global Head of FX Options & Forward Trading at Saxo Bank, said: “Adding Binary Touch Options trading to our platform bridges the gap between FX Spot and FX Vanilla Options and meets the recent demand in the market for wanting to trade in the global currency market in a simple, straight forward manner. Whether you are a seasoned FX trader or new to investing in currencies, this is an excellent way to add FX exposure to your portfolio.

“Saxo Bank has developed into one of the top market makers in the global FX Options space. Adding such a simple and straight forward product to our strong liquidity and award winning pricing capabilities is another significant improvement to our FX offering.”

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elephant.co.uk Reveals Most Car Thefts Happen On The Weekend

elephant.co.uk has revealed that although for most of the working population, the weekend is a period of rest, the same cannot be said for car thieves, as new research shows that they’re at their most active over the weekend.

The research, carried out by car insurance specialist elephant.co.uk, shows the day of the week most cars are stolen is a Saturday while the day most items are taken from cars is a Sunday.

elephant.co.uk looked at 45,000 theft claims over the last 5 years to see on which day most car crime took place. While Saturday was the most popular day for vehicle theft claims, it was closely followed by Friday, Thursday, Monday, Sunday, Wednesday and then finally Tuesday. Additionally, Sunday was the most popular day for theft from vehicle claims, then followed by Tuesday, Saturday, Monday, Thursday, Wednesday and Friday.

Brian Martin, elephant.co.uk managing director, commented: “The last thing you need after a hard week’s work is for your car to be stolen or broken into so this research will make unhappy reading for motorists. With most people out and about at the weekend, there’s a likelihood they’re leaving their cars unattended either in a car park or at home which could tempt thieves to make their move.”

But what exactly are criminals stealing from cars? Over the past 5 years, the most common items have been Sat Navs followed by CDs and stereos. In fact, these three items are all more than twice as likely to be stolen as anything else.

The full list of the items most likely to be stolen from cars also includes iPods/MP3 players, sunglasses, mobile phones, clothes, computers, child car seats and cameras.

Brian continued: “Car thieves are opportunist, and too many motorists present them with an opportunity by leaving valuable items on show, or even leaving their windows open. Motorists need to remember not to make themselves an easy target.”

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BestCreditOffers.com Announces Updated Citibank Card Review

As consumers recover from the recession, the appetite for finding the top credit card offers available is significant. BestCreditOffers.com now covers the latest Citibank 0 interest on balance transfers deal good for an industry leading 21 months. The new offer features no annual fee when visiting the issuer’s website through the review portal and competitive interest rates based on credit history at the expiration of the balance transfer term.

For consumers with credit scores considered fair or poor, BestCreditOffers.com, recommends the Capital One Classic Platinum Card that includes a 0% introductory APR on all new purchases through spring of 2012 and a low rate balance transfer. Additional features include $0 fraud liability of the card is lost or stolen and the enjoyment of Platinum benefits to include extended warranty protection and 24-hour roadside assistance.

To help shoppers assess the best credit card offers available, BestCreditOffers.com staff take time to evaluate the numerous companies available and assess based on consistent performance criteria across all brands. The portal highlights credit opportunities based on the consumers level of credit, APR, and additional features while now providing the ability to sign-up for all offers online through the website.

John Michael from Seattle, Washington writes, “I didn’t think I would be able to get a new credit card for a long time after my divorce and losing my home to foreclosure. I was able to find a great credit offer through BestCreditOffers.com to get my credit rebuilt and highly recommend them!”

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