Tesco Car Insurance Discount
Tesco Car Insurance Discount: Financial website Thisismoney.co.uk has named Tesco as the most trusted insurer of cars following a survey of 5000 of the sites users. 71% of Tesco customers said they likely to stay with Tesco car insurance and 72% would recommend them to a friend. Saga won the place of best customer service provider. RIAS took the award for best home insurer after the financial providers were tested for their trustworthiness and customer service. The editor of the website, Andrew Oxlade commented that their readers are a very choosy lot and sifted through the options to choose the best. Tesco have said that they intend to continue to improve their services and have taken on board any negative comments they have received.
With just half the votes counted so far, it looks as though the outcome is going to be a resounding no vote to paying back the compensation paid to UK and Dutch investors in the failed Icelandic Bank. Around 400,000 investors have been compensated by their respective Governments in the understanding that Iceland would repay the money. After the idea was put to a referendum, it appears that changes will need to be made to the terms of the agreement. Alistair Darling has commented that expecting a small nation like Iceland to repay more than £3bn in one go may not be realistic and that the money would need to be paid over a long period of time.
The families of victims of CJD have lost their high court battle to change the system of compensation which they believed was flawed. The judge in the case said that he appreciated that the deaths had been tragic and he had sympathy, he was forced to dismiss the case. The families had said that the system for compensation had been too complex and was distressing for those involved. Part of the compensation was offered from a discretionary fund which has to be applied for. The judge commented that the decision to reject the changes to the system was fair.
DEFRA has agreed to pay additional compensation to two farmers for the stress and anxiety caused by the delay in Single Payments. The way the payments had been made by the Rural Payments Agency was criticised in a report before Christmas and had pointed out that a financial and emotional toll was put on farmers due to the delays. DEFRA has admitted that personal apologies should be sent to those farmers involved and a compensation payment where this was justified. Another 22 complaints are still outstanding and should be resolved in the next three months
It has emerged that Prudential have agreed to pay $104m (US) per month if the deal to buy AIG's Asian unit does not complete by August 31, plus a termination fee of $231m. The money will be paid from Septicaemia 1 if the deal breaks down. AIG is 80% owned by the US government which purchased a large part of the business when it was hit by the financial crisis in 2008. The company is now selling off assets to pay back the Government. Prudential are planning the largest ever rights issue in the UK to get the funds to complete the $35bn (US) deal.
The chief executive of Prudential Tidjane Thiam is to undertake a tour of the Square Mile this week in a bid persuade fund managers that the takeover of the Asian arm of AIG is a good idea. One fund manager has described the move as irresponsible and reckless and the worst move seen by The City in along time. It has also been suggested that AXA may be looking to take advantage of the current weak share price and put in a bid for Prudential. However experts have said that AXA may have trouble getting the funds for such a purchase. The Independent has said that Mr Thiam is likely to say that £1bn of the Asian assets will be sold to pay off some of the debt acquired to fund the deal. †
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