Archive for September, 2007

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News - Making sex pay

Belgian legislators are hoping to bring that to a close with a parliamentary bill that would draw prostitutes into the legal fold and bring the industry under state control, providing sex workers with labour rights and greater health protection.

But for a fee.

The sex workers themselves would be expected to pay up when the tax […]

News - Insurer RSA sees finances improve

UK insurance firm Royal & Sun Alliance (RSA) has said its business is now in better shape, despite reporting a 14% fall in half-year operating profits.

The firm said operating profits fell to 310m ($550m) from 351m a year ago, partly due to lower investment returns.

But RSA said it was in a stronger financial position following […]

News - Money Box scoops top award

BBC Radio 4’s Money Box has been named best financial programme for the second year in a row at a top awards ceremony.

Money Box presenter Paul Lewis was also honoured, winning the prestigious Lifetime Achievement award for Financial Journalism.

The ABI (Association of British Insurers) awards are held each year in London to “celebrate excellence in […]

News - New regime for financial advice

A major shake-up of how financial products are sold, aimed at giving consumers greater choice, comes into force on Wednesday.

The changes mean financial advisers will no longer be restricted to offering only the products of the bank or insurance company that employs them.

Instead, all advisers will be able to offer pensions, insurance and investments from […]

News - What’s in the Budget?

These are some of the main points covered by Gordon Brown in his Budget speech

Duties
From Monday, there will be a rise of 1p on a pint of beer and 4p on a bottle of wine, but duties on cider and sparkling wine are frozen.

The duty on spirits is to be frozen for the remainder of […]

News - Mis-selling of insurance exposed

Financial services firms that sell Payment Protection Insurance (PPI) have been told they must improve their selling methods.

The Financial Services Authority (FSA) demanded urgent action after visiting firms and a mystery shopping exercise.

About a third of the 45 firms surveyed sold policies on which customers could not claim or which gave limited cover.

PPI is […]

News - WTC leaseholder wins court battle

The World Trade Center leaseholder has won a court victory over his insurers as he attempts to rebuild the site.

A New York jury has decided that the 11 September 2001 attack on the two towers constituted two separate events.

The US District Court ruling means Larry Silverstein could now get an extra $1.1bn (0.56bn) from nine […]

News - India budget voted without debate

India’s parliament has passed the national budget amid a boycott by opposition parties.

There was no discussion on tax proposals announced as part of the 4,780 billion rupees ($104bn) budget.

The lower house passed the budget by a voice vote as opposition MPs stayed away after alleging that Prime Minister Manmohan Singh had insulted them.

Parliament has been […]

News - History of pensions: A brief guide

A brief guide to the history of pensions in the UK:

1670sFirst organised pension scheme for Royal Navy Officers

1908 Old Age Pensions Act - introduced first general old age pension paying a non-contributory amount of between 10p and 25p a week, from age 70, on a means-tested basis from January 1 […]

News - Infosys gains on ‘Capgemini bid’

Shares in Paris-based consultancy Capgemini and Indian software firm Infosys Technologies have jumped on reports of a possible merger.

Infosys declined to comment on “market speculation” that it planned to bid for the European group, bolstering its position in the technology market.

But investors chased the Bangalore firm’s shares up 2.5% in India. Shares in Capgemini rose […]