Profit From Others’ Losses
The sales of recovered goods are growing in popularity in these austere time. There are thousands of auction houses around the UK selling almost anything. Presently, the auctioneers are reporting a sharp riise in the number of people attending sales.
People can make good savings on second-hand retail items. Most people would not think of buying household items or furniture at auction, so something for a fraction of the normal price could be picked up.
Lending for Mortgages Falls 2%
The Council of Mortgage Lenders just revealed that, in spite of the greater numbers of house hunters and property sales in the market place last month, mortgage leding fell by 2%. A total of £10.3 billion was advanced during May, down from £10.5 billion in April. It was 58% lower than May 2008.
Shop Struggling to Earn a Crust
The price of bread and other staple ingredients has also gone up, putting further pressure on margins. The Tunbridge Wells Sandwich Company, just off a busy shopping street in the town centre, has become a victim of the consumer spending downturn. Competitors have also opened up recently, just as the number of people buying their lunch every day declines.
Ships Sail Towards Scrapheap
More ships have been scrapped so far this year than in the whole of 2008 as owners decide to cash in on their ageing fleets rather than have them sit unused amid the slowdown in global trade brought on by the recession.
Ship owners who had been receiving hundreds of thousands of dollars a day for their vessels are now having to accept a fraction of that, often not enough to make it worthwhile running the ship, especially given that they can get $200 a tonne for the scrap metal.
National Express
Talks between National Express and the Department for Transport over the future of the East Coast main line have reached an impasse, days before a trading update is due from the quoted bus and rail group. A resolution of the dispute is vital to National Express, which faces heavy losses from its current deal with the Governement to run trains on the line. It is also considering a £400 million rights issue, which it will not be able to launch without a settlement.
Factors Affecting the Right Fund Options For You
There are two factors that will affect the right fund option of individuals.
1. Age
For people who have a lot of time, they can aim for higher growth as short-term ups and downs shouldn’t concern them. However, for the ones who are already near retirement, slow and steady is the way to go.
2. Attitude
People need to be comfortable with their funds options. They need to consider if they are well prepared for sharp ups and downs, but higher long-term growth; or they want slow and steady with lower growth.
Talks Fail to Save 35m0 BA Jobs
British Airway failed to reach a deal with union over jobs last night. The airline said it wanted agreement with union bosses before the end of the day for a range of cost cuts, including 3500 job losses.
Mick Rix, national officer of the GMB union, said they hoped to resume talks but it was unclear if BA would be prepared to continue negotiation.
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