Millions of pensioners gripped by fuel poverty
Posted on January 23rd, 2012
A growing number of UK pensioners are falling into fuel poverty as a result of high gas and electricity prices, according to a new study from Age UK.
An ICM survey conducted on behalf of the charity found that nearly half of the 1,000 pensioners polled said they turned their heating down when not warm enough in an effort to save money.
The study also revealed that 2 million pensioners around the country are regularly going to bed when they are not tired just to keep warm.
Mervyn Kohler from Age UK was quoted in the Guardian as saying, ‘The figures are stark and show that people have been shaken rigid by the enormous rise in prices we saw in the second half of last year, and for individuals living on fairly straitened incomes, that hike in one of the two essential areas – the other being food – has really put the frighteners on our older population,’
She continued, ‘People who are cutting back on the amount of fuel they are using are jeopardising their health. They are g
Tags: Fuel Poverty, Poverty
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Intuitive Surgical (ISRG) Continues to Ride on Da Vinci’s Success
Posted on January 8th, 2012
Over the past decade, shares of Intuitive Surgical , a niche maker of robotic surgical equipment, rose from $10 per share to the $460s. Since March 2009, the bottom of the previous bear market, shares have quadrupled. Today, with its trailing P/E at 40, shares can hardly be considered cheap, but analysts believe that with the expansion of its robotic line to other medical procedures, Intuitive Surgical may be well poised to grow exponentially. There are plenty of skeptics who are bearish on Intuitive Surgical – after all, with the economy still in fragile state, are hospitals and medical facilities about to spend heavily on robotic surgeons? What separates it from the pack of “future stocks” – such as solar power companies or Tesla Motors – which have all been severely punished for their speculative forecasts?
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Euro woes: No joy for 10-year-old currency
Posted on January 4th, 2012
2012 marks 10 years since Europeans first held euro notes and coins in their hands. But prospects are grim for Europe’s single currency in the New Year, as the region’s leaders warn of tough sacrifices in this “most severe test in decades”.
With recession looming, the sense of optimism that greeted the united currency at its inception seems to have evaporated.
The birth of an ambitious project – a common currency – was celebrated with no less than a big bang.
“The euro is the beginning of a stronger European Union. We shall be the best in the world, the best in the world!” promised Romano Prodi, the former European Commission president back in 2002.
Yet 10 years down the road, the euro is not in the best of shape: a spiraling sovereign debt crisis, credit downgrades, rising interest rates, tens of millions unemployed, budget cuts, and violent protests.
“The euro is undergoing the worst crisis it has ever been in and obviously the founders of the euro did not hope that this would happen,” economist Janis Emmanouilidis explained to RT.
For
Recession driving more couples to divorce courts
Posted on December 6th, 2011
The number of couples getting divorced has risen in the UK for the first time in nearly a decade, according to figures published today by the Office for National Statistics (ONS).
Both the ONS and a number of relationship and marriage experts suggested the country’s perilous economic situation could have been a major contributor to the number of break-ups, as couples face unprecedented financial pressures.
Divorces in England and Wales rose from 113,949 in 2009 to 119,589 in 2010, an increase of 4.9%. Divorce rates last rose in 2003 when 153,065 couples broke up, a rise from 147,735 in the previous year.
The equivalent of 11.1 people per thousand of the married population got divorced in 2010, up from 10.5 in 2009. The increase follows several years of decline in the number of divorces in the UK. L
Tags: Divorce, Divorce Courts
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ABI : reassurance to motorists on winter tyres
Posted on November 30th, 2011
Motorists are reassured by the Association of British Insurers as it has been announced there will be no extra charge on their motor insurance for fitting winter tyres.
Under an ABI commitment, ABI member insurers representing 90% of the motor insurance market confirm that they will not charge any additional premium if winter tyres are fitted, provided that the tyres meet, and are fitted in accordance with, the vehicle manufacturers specifications and are in a roadworthy condition.
Nick Starling, ABIs Director of General Insurance, said: Insurers do not want to penalise motorists who take steps, like fitting winter tyres, to improve their safety on dangerous winter roads. Last year cold weather came early and there was some uncertainty for customers about the insurance implications of fitting winter tyres. This commitment clarifies the position for motorists.
While the insurers signed up to the commitment will not charge an additional premium for the fitting of winter tyres, some may require the customer to advise them that these tyres have been fitted.
Stocks Flat on Poor Economic News (NFLX, GRPN)
Posted on November 27th, 2011
Major indices were down about half a percentage point each today as third quarter GDP data was revised downward and Germany rejected the latest Eurobond program. After the minutes of the latest Federal Open Market Operations meeting, it seems clear that QE3 may be coming sooner rather than later. President Obama is also hoping to implement payroll tax cuts in order to further stimulate the economy. In corporate news, Netflix stock hit all-time lows today, as investors reacted against their buyback program. Groupon stock, meanwhile, finished just above their IPO price. Read more…
Caps open as capital flows out of Russia
Posted on November 14th, 2011
Net capital outflow from Russia in 2011 is almost twice the amount of the previous year. $64bln of private investment left Russia in the first 10 months of 2011.
The tendency is likely to continue till the middle of 2012 at least. Bank of Russia Chairman Sergei Ignatiev says the bank may discuss possible measures to support liquidity, but some experts are skeptical.
Eduard Danilov fixed income trader at Schildershoven Finance says the reason for the decline in foreign investment is twofold: “With uncertainty growing, risk aversion also grows so investors are searching for safe havens and the rouble is not one of them. Some international banks that have subsidiaries here in Russia are in need of liquidity and so they are borrowing money via inter-bank lending and transferring them home. Since the volatility index is still high I won’t bet on investors coming back in the nearest future.”
Russian companies are due to repay some $32 billion in foreign loans. So ca
Tags: Russia
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