Financial News Headlines

False sense of security for consumers being asked for minimum repayments on credit cards

January 17th, 2010

Experts have recently expressed concern that many credit card customers may be getting lulled into a false sense of security as a result of credit card companies asking for very low minimum repayments on their credit card balances.

In the current financial climate many credit card users may be relieved to find that they are only being asked to pay a tiny fraction of the amount that they owe to the credit card firm each month, but many fail to realise that if minimum repayments are continued on a long term basis they will end up paying a fortune in interest and could be lumbered with the debt for decades even if the amount owed is relatively small.

The minimum repayments requested by credit cards should cover the interest for the month along with at least a small fraction of the debt.

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Grappling with indemnity spend

January 17th, 2010

The British property insurance market is a sizable one, and is the second largest sector in general insurance, after motor, with a reported premium of £12.1 billion in 2008. In the last five years, claims and expenses for the sector have risen by 22%, while premium (commercial, household, and domestic) has only grown by 15%. Extrapolate these growth trends, and it’s clear that the sector will face serious profitability challenges in the coming years.

In addition, these are not benign times for property insurers— increased flooding, aggregators, and fraud all pose challenges. Insurers remain constrained by a financially challenged government with overwhelming budget pressures with regard to flood protection. If t

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Home Insurance – Cant I do Do Without It?

January 17th, 2010

There is no one I have met who doesn’t either won a home or want to own one. I am therefore totally confused when I see some who have achieved this goal leaving their homes uncovered. Either this or they are totally careless about the coverage they have not knowing if it is adequate. Is it really that important to have your homes insured?

Try to consider this. If you got your home through mortgage, then you know your mortgage provider would require full coverage as a condition for the loan. Why do you think this is so? They know what they are doing. This should give you an idea to how important home insurance is.

A friend of mine had a home but she didn’t think to insure it. Read more…

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Auto Review: 2010 Honda Crosstour EX-L: Accord plus

January 16th, 2010

DAMASCUS, Md. (MarketWatch) — There is a great little privately owned convenience store just blocks from the home office in what once was a house.

“That sure is a nice looking car you’ve got there,” came the voice of an older gentleman on the back porch of the store/house. “We were just talking about it, and we like it,” he said pointing to an old friend.

I smiled and thanked them as they headed for the true mission of the morning — the purchase of that first cuppa java.

Actually, I was surprised by the comment given the unfavorable styling remarks made by other testers. To tell the truth, I too was skeptical of the idea of a hatchback Accord.

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Quick loans: Maximum funds at minimum times

January 16th, 2010

Do you really face threat from unexpected expenses? What is then that you do to overcome such a situation? Arranging the funds at a moments notice does not seem to be a plausible idea. But, without any funds, you will definitely have a tough time fixing the needs. At best, you can go for quick loans, as these loans are known to get approved instantly.

Quick loans for unemployed are indeed quick, as the approval of the loan amount comes in less than 24hours. Moreover, you are not required to pledge any collateral as security. Further, the amount is sanctioned without any credit check, which implies that applicants even with a negative credit score can derive the funds.

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The long road to Haiti

January 16th, 2010

It has been five days since the devastating quake hit Haiti, and aid is barely beginning to trickle into the stricken country. With the damaged airport and roads, cargo planes full of supplies are being turned away with no place for them to land. Most aid is being funneled through the Dominican Republic, where it is at least another 24 hours before supplies can reach Haiti by truck.

The biggest need right now is for clean water. The potential for disease is high with bodies still trapped beneath the rubble and corpses rotting in the streets. Bodies are being piled onto trucks to be taken to mass graves outside the city, but the devastation is simply overwhelming.

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