UK Recession Deepens
Today its official. The UK economy is in recession. Confirmation of this widely known fact came today (23rd Jan) from the Office for National Statistics whose figures showed that the economy has shrunk by 1.5% in the final three months of 2008.
This latest fall follows the previous fall of 0.6% in the third quarter of 2008. This is the most significant fall since 1980 and exceeds the anticipated fall of 1.2%. Sterling continued its downward fall, losing another 3 cents against the dollar. The official exchange rate was only $1.357 to the pound at 09:30 this morning (23rd Jan).
Many economists are saying that this drastic fall in GDP is staggering. Some are saying that complete financial meltdown has been averted but there is an expectation that this latest recession will be deeper than that experienced in the early 1980s.
The current economic crisis is rooted in the 2007 US housing market debacle. Almost every sector of the UK economy is now adversely affected. There is no more debate as to whether the UK will enter a recession. Discussion is now focussed on how deep the recession will be and how long it will last.
Early predictions suggested that the recession would match that experienced in the 1990s but new estimates are saying that this latest recession will be equally as bad as that experienced in the 1980s and likely to be a lot worse. The big difference between previous recessions and now is that this economic crisis is worldwide. There is no market sector that remains unaffected.
It is anticipated that the recession will push unemployment to levels that have not been seen for decades. Falling demand for products and services is already leading to many employers having to lay off employees, many of whom would have considered their jobs to be safe.
If you’re travelling anywhere you will be acutely aware of the current exchange rate. When flying from Gatwick or Luton be sure to book your Gatwick Parking or Luton Airport Parking in advance and you will make some great savings.
Uncertain Year Ahead for London City Airport
As the recession deepens and the credit crunch continues to bite income and profits in the UKs financial services sector continues to depreciate. Profitability in the sector is declining at a record rate with around 55% of city firms reporting a fall.
The CBI have said that there is a ‘clear sign that tightened credit markets are hitting the wider economy’ as the amount of business conducted with manufacturers, retailers and other commercial firms also shrank at a record rate, job losses increased and investment plans were curtailed.
London City Airport is one of the city based services that has been severely affected by the economic downturn. The airport experienced record passenger figures during 2008 with 3.3 million passengers passing using the airport. This represented a massive 12% increase on the figures for 2007. But this continued growth is not likely to be reflected in the figures for 2009.
The increase in passenger figures at London City Airport was brougt about by a number of major airport developments that took place during 2008. In October last year the airport received approval to increase the flight movements from 80,000 to 120,000 per year.
From autumn 2009 British Airways intend to offer the first long haul flights from the airport destined for New York from Autumn 2009. Passengers bound for new york will conveniently be able to go through customs and immigration checks while on stopover at Irelands Shannon airport. Shannon will be the first European airport to be granted pre-clearance facilities for transatlantic flights to North America.
But even with new services like this and the addition of new routes from London City the airport is remaining cautious about the prospects for 2009. By the end of the year the airport will host no less than nine airlines servicing 33 destinations in the UK and Europe and with the 2012 Olympic games just around the corner the airport is poised for great success. But this is very much dependent upon stability returning to the financial services industry.
For great deals on London City Airport Parking I recommend that you check out the comparison services provided by Gosimply.com.
How To Invest In Stocks And Mutual Funds
Before you buy any shares of a company the first thing to think about is whether or not the company has a strong balance sheet. Failing to consider this one crucial point, could very well cost you a lot of money.
Aside from thinking about that first point, it is time to verify that the stock is undervalued and looking for an upswing. If you think that buying cheap stocks means learning how to pick cheap penny stocks and mutual funds then you may end up losing money no matter what. Simply put, knowing how to pick cheap penny stocks and mutual funds is the same as learning how to buy like a professional.
So what does this all mean? Cheap stocks are stocks that are priced below what they are worth on the market. Learning how to buy stocks that are cheap is will make you as rich as the professionals.
What exactly do you look for when trying to find cheap stocks? The first thing to do is identify a sector that is under performing or should be performing better. Then price the stock based on it’s PE multiple against it’s competitors. If you have a favorable position and the stock should be at a higher price, you will want to consider the stock for purchase because it might be undervalued. Buying the stock should be considered if you think the price should be higher.
Does this mean you should not learn how to trade mutual funds and cheap penny stocks? Don’t be silly. You would not ignore other ways of investing unless you wanted to lose a lot of money in the process. Don’t be a fool and learn how to invest in mutual funds as well. Otherwise you might be sorry if you do not. Mutual funds can be the perfect way to make your investments grow over a very long time. You do not want to be one of the foolish and broke do you?
Finding No Credit Student Loans
No credit student loans are among the most common class of loans that are acquirable in the America. Because many high school students do not have credit cards or have purchased any objects, like cars, that build their credit score, the typical student applicants do not have established credit to work with. Due to this, most of the programs available to people are fast no credit student loans that utilize the credit rating of a parent to judge the odds that you will pay back the loan. There are some factors you want to keep in mind when studying no credit student loans. Above all, these loans usually possess higher interest rates than those for people that have established their own credit history. You will need a parent to go through the paper with you and sign when you do. This makes the parent equally liable for the loan. If you default on the loan, the credit score of your co-signer, as well as yourself, is negatively impacted. The guardian of no credit student loans will typically help in ensuring you pay the loan, as loans of this class can quickly ruin a great credit rating. As a great credit rating is required for car loans, mortgages and other loans, the co-signer will work quickly to make certain the payments are paid. Banks and other financial institutions gamble on this fact, which is why the parent required no credit student loans are so common and standardly utilized. When you register for no credit student loans, you will need to be cautious of several factors. First, you will need to be aware of the grace period for the loan. The majority of student loans give a six month grace period after you graduate school or stop attending full time. It is your responsibility to know when you need to begin making payments back to the loan. While your co-signer will be issued notice, it is your responsibility to make certain that the funds reaches the provider by the date owing for each invoicing period. Failure to do this puts bad marks on your credit history, as well as on the credit rating of your parent. There are no credit student loans tied to the federal financial aid packages, as well as through private lenders. Typically, you will use both federal and private financing to pay for your schooling.
What Are Reasonable Card Offers For Teenagers
Today, the vast majority of transactions for purchases, both online and offline are conducted by means of credit and debit cards and it is increasingly hard for anyone to fully function in today’s market without having access to these convenient cards. Teenagers are also finding it a challenge to be engaged in the average lifestyle in America without having a credit card available and in response to this need there are several top card companies that are now providing credit products and credit card deals that are tailored especially for teenage customers.
Of course, in order for a teenager to accept credit card deals and submit a credit card application, they do need to be at least 18 years old in order to enter into a legal contract with any credit card company. But, there are numerous credit card companies today that offer special rates and incentives for student credit cards with the hope that they will end up with a new customer who will continue using their credit cards for many years to come, as they move through their college years and into their adult lives.
Teens who are getting ready to leave for college would do well to get advice and guidance from their parents as they are in the process of reviewing the top card offers they have received for a student credit card. In many cases, it is a good idea to go through the same credit card company that the parents already have an established account and relationship with and often this can be the easiest way for a student to open an account and get their own card.
However, when it comes to finding the best student credit card deals it can make sense to shop around and look at as many offers as possible before filling out any credit card application and submitting it. One of the most important things to look at when considering credit cards for teenagers is the long term interest rate that is being offered, and it should be noted to pay very close attention to that phrase “long term.”
One of the things that many credit card companies do to get listed among the top deals is to offer a very low introductory interest rate and some will even offer a zero percent rate for the first six months or even during the first year. But those introductory periods go by very quickly and it is much more important to choose a credit card that has the lowest long term rates.
In addition, both the parents and the teenagers should carefully read through all of the additional terms and conditions that are part of the agreement that the teenage credit card user will be bound by once they open their new account. Check to see if there is an annual fee and how much it is. In most cases, you will find comparable credit card offers that do not charge annual fees, so you can often eliminate those offers right off the bat.
Another important factor to take a careful look at when evaluating the various top card offers that a student will receive, is to carefully review the various penalties and fees that might be imposed by the credit card company if the teen misses a payment or goes over their credit limit. Often, the card companies not only impose these fees but they will also raise the interest rate, making the card not so attractive any longer to the teen or their parents.
Small Business Credit Cards Give Entrepreneurs Flexibility
A credit card for business is used in a very similar way to credit cards used by consumers. There is the usual process for applying and getting approved, a finance charge on purchases is still due, and they have an influence on credit ratings, usually for the business, not the owner.
A small business credit card generally offers low interest rates, a variety of rewards choices, easy online account access and other services to support the needs of your business. Also, their credit limit is often larger than most cards used by consumers.
If you are a normal entrepreneur applying for a business charge card, your personal credit history will be checked. Many smaller companies will not have their own separate credit history, which means the owner guarantees the credit card.
A Visa business credit card is a great tool for managing the cash flow of your small business. Using a card allows you to very easily keep an eye on where business money goes, and let you keep an eye on employee spending habits.
Most charge cards for business give you quarterly and yearly reporting of your credit card charges. This really can assist you in seeing where you money is spent each year, helping you to formulate financial strategies.
With a Advanta credit card, you will often find rewards programs which can be close to the same as those that are found on normal consumer cards. You will find that credit cards that cater to the entrepreneur will usually have rewards programs that are better equipped for the desires and needs of small business.
A business credit card can help your business grow, especially in financial ways. It is very important that you use one that not only suits your business, but also will provide the maximum advantage for your small business.
Used properly, a business credit card is a tool to help you succeed, and you should be careful to never abuse their use. Since they are created particularly for businesses and entrepreneurs, they are an affective tool that can grow and change with the needs of your business.
How and where to exchange your currency
When you are travelling outside your country you may well need to exchange money.
With currency exchange rates varying from not only place to place but also daily, where and exactly how you will decide to exchange your currency can make a big difference to your wallet.
Before you decide to travel, it is always best to do a bit of homework and find out what the foreign currency exchange rate is in the country you are hoping to visit. This can be done by using the Universal Currency Converter which provides you with a fair idea about the latest exchange rates which are based on the mid point between the buying and selling rates of big value transactions in all the global currency.
Many people, mainly those flying a distance and possibly arriving in a foreign country very early in the morning or even late at night when the banks and currency exchange desks could well be shut, prefer to get a small amount of currency prior to departing on their journey.
In order to find the very best exchange rate, it is wise to wait until you arrive at your destination. Whilst most major airports have a currency exchange desk, you are more likely to achieve a better rate from an ATM machine affliliated with a major bank.
ATM cards are most likely to work without trouble overseas and these are the ones with a four-digit PIN number. Since you may be charged a usage fee by both the local bank and your one at home, it is always advisable to make one large withdrawal instead of several small ones whenever possible. Don’t forget to keep your cash in a safe place out of range of pickpockets etc.
So long as you have a valid PIN number, you can use the credit or debit card to get cash abroad.
Having a credit card is very invaluable when travelling. With one, it will not be necessary to carry large sums of money. It is best to use a credit card rather than cash to pay for larger expenses, like hotel bills and big purchases for instance, then you can get a valid receipt for the transactions. Then if you are unfortunate enough to have a bill disputed, your credit card company should be able to help you settle the matter when you arrive back home.
Do bear in mind that credit card companies will possibly levy an additional fee for overseas usage. If you’re not certain about this then it is wise to check with your company before you leave home.
Quite often you will find that you have some foreign currency left over when you return home. These are a few ideas as to what you can do with it:
• Treat yourself or friends and family with a few gifts at the duty free shop
• Give a donation to a charity. Find a place to do this at the airport or send it to an organisation which deals specifically with charity currency exchange
• Change it back to your own currency at the airport
• Exchange your money on your return home
How To Obtain Car Insurance For An Antique Car
Many people choose to restore and show antique cars as a hobby.But even these cars need some type of insurance to protect against accidental damage.This is why many people search for car insurance for an antique car.There are many companies available that provide car insurance for an antique car, with many companies specializing in antique car insurance.By having a wide variety of car insurance companies to choose from, the consumer has the ability to choose the right type of insurance for their needs.
Car Insurance Companies
Many commercial car insurance companies can also provide car insurance for an antique car.Also called collector car insurance, these policies are tailored to the car you are attempting to insure.A car insurance representative will take all of your information and discuss different policy options with you to ensure that you are obtaining the coverage that you need.They will also help you decide which types of coverage are within your target budget and which deductible and limit levels you will need.
Purchasing car insurance for an antique car through a commercial car insurance company will give the policy holder peace of mind, knowing that the company that they have chosen to do business with is an established company with a good reputation.The policy hold may also have their everyday use cars insured with the same company.The security of having an established company provide car insurance for an antique car is well worth the premium that they will charge you to provide insurance for your antique car.
Independent Insurance Companies
There are also many independent insurance companies available to purchase car insurance for an antique car.These companies tend to specialize in antique car insurance and will not insure any other types of cars.Some of these independent insurance companies will only insure a particular type of antique car, so if the car you are attempting to insure is a rare one, if may be difficult to find an insurance provider that will insure it.When choosing an independent insurance company to provide car insurance for an antique car, be sure that the company is a reputable one.You do not want to find that after months of paying the insurance premiums that the company will not or is unable to pay your insurance claim.
Finding car insurance for an antique car can be a lengthy and frustrating process, but the benefits of having insurance for the car far outweighs the initial hassle of finding the insurance.Many antique cars are worth many thousands of dollars and that is a big loss if the car is ever stolen or totaled.Having car insurance for an antique car may be the most valuable insurance that you ever purchase. Online Car Auctions
You Should Consider No Credit Loans During Emergencies
There is no question that unexpected expenses and financial emergencies seem to vex people at precisely the time when they are least prepared for dealing with a crisis that demands money to solve the problem. With the state of the economy these days, many people no longer have anything in their saving accounts and often they have no credit, either with credit cards or even creditworthiness to help them out of the financial pinch.
When this happens it can really be overwhelming for people and can push them right to the brink of despair, especially if the financial need is something that involves things like health issues, essentials like a broken refrigerator or air conditioning in the sweltering summer heat, or expensive car repairs that have to be done in order to get to work to continue earning a living. It is at these times when not having credit cards for emergency purchases because of bad credit can seem to be the one of the cruelest turns of events that a person can imagine.
However, there is some good news in the world of personal loans and lending through some of the more innovative financial institutions. These days, there are more and more options for people who either have blemishes on their credit record or who haven’t even started a credit history. It is through the no credit check personal loans that can be secured.
But it should also be noted that while these specialized loans are available, it can sometimes be difficult to find the companies that offer personal loans for emergencies and other purposes without them running a credit check. One of the best ways to find these types of loans that don’t require a credit check in order to get a personal loan or even get a limited credit card is to take some time to search on the internet for the options.
Looking for an online credit card or personal loan if you have bad credit or can’t get credit is a good way to save a lot of time, as opposed to trying to canvass your local banks and financial institutions looking for loans that don’t require a credit check, as well as credit card offers. The companies that specialize in offering these kinds of credit card deals and personal loans do most of their business online, where they can keep their overhead low and reach as many potential customers who need the special financial services they offer.
One thing to keep in mind though, is that in almost all cases the loans you can get without a credit check, as well as credit cards that are offered, will have higher interest rates compared to the best credit cards and special credit card deals that are offered to people have a great credit score and a long track record of paying their bills on time. However, when people are in a real bind, paying high interest rates can still be a real blessing to them if it is able to solve their financial crisis.
Fortunately, those who have had credit problems in the past and those who have no credit history at all are able to take advantage of these special loans and various online credit card offers and begin to improve their credit history and score. Over time, they will be able to prove themselves and raise their credit score, which will open the way for them to get for favorable interest rates on future loans and even qualify for special credit card deals in the future.
Monitor Your Credit Score With A Free Credit Report
In a day and age when it is virtually impossible to purchase a car, rent an apartment, buy a home or even get insurance without having good credit, it is more important than ever to not only know what credit score you have but also to keep an eye on your credit report, in order to make sure someone else is not stealing your identity or using your credit profile. These days you can get a free credit report from a number of different websites.
Credit reports and credit reporting is important for anyone who wants to understand their credit and the financial ramifications it can have in a person’s life. If you want to get the best credit card deals and credit card offers, then it is important to have a high credit score, which you can earn over time by making your payments on time and not getting yourself too far into debt. It is a good idea to pull a credit report on yourself at least once a year to see what your score is, to check for erroneous information that might have been reported and to check of suspicious activity that could be an indication of identity theft or credit card fraud.
The first thing you will see when you receive your free credit report is that it shows all of the pertinent personal information about you that a creditor might want. It will also have a list of all the accounts for loans and credit cards that you have opened in the last several years. In addition, there will be your credit score, or FICO score, which is a summarization of your credit history that allows potential creditors to quickly understand your overall creditworthiness.
On your “free of charge” credit report you will also see that there is detailed payment history for the various types of accounts you have opened, such as your mortgage, your major credit cards, your retailer credit cards, your student credit and loans, and other types of accounts that you make regular payments on. Typically, the credit report shows how long the account has been open, the number of on-time payments, the number of late or skipped payments, the balance, and other pertinent information regarding your accounts.
These details are helpful to any bank or financial institution that you go to for any kind of financing so that they can quickly and easily see what type of credit risk you might be. The level of risk that they consider you to be, based on your credit score and credit report, will often determine the interest rate that you are offered for credit cards, mortgages and auto loans. At the same time, most auto insurance companies review credit scores and those with better credit scores will get a better insurance rate that those with low FICO scores.
Having a low credit score cannot only make it hard to rent an apartment in a nice area or get good rates on car insurance, but it can also make it tough to get a new job. Increasingly, employers are screening potential employees by looking at their credit history. As a result, it is more important than ever to use the free credit report websites to monitor your credit score and keep in mind that it is another financial asset that you should protect and safeguard.