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Almost 1/3 of Americans admit eating food that has gone off to save money

Finance

Elliot

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12 May 2016

Almost 1/3 of Americans admit eating food that has gone off to save money

31% of Americans have admitted to eating food that is past its sell by date to make money go further, brand new research has revealed.

A surveyed analysing the spending and saving habits of over 1000 US citizens found that 42% have bought and worn used clothes to save money, while a quarter have risked their lives by driving a faulty car to save money on repairs.

360couponcodes.com, who commissioned the research, also revealed that Americans frequently take freebies just to cut costs.

When asked what items they take, American’s said the most common items were napkins, ketchup sachets and pens, followed by plastic cutlery, toiletries and packets of sugar. These acts were considered a moral grey area by those surveyed, with less than a quarter of Americans agreeing that taking the above items for hotels or food chains is stealing.

Mike Meade CEO from 360couponcodes.com said “The study results we’ve received are interesting as it seems Americans, like most people, enjoy getting a good deal, even when making the simplest of purchases.”

Almost a third of thrifty Americans stated they review their budget several times a week to stay on top of things, while more than 80% claimed they shop at dollar stores to avoid going over their budget.

The survey also revealed that penny pinching has a negative effect on people’s family lives, with one in four couples surveyed admitting they’ve had arguments caused by a partner’s attempts to save money.

A third of those surveys also admitted to sacrificing their social life to make ends meet.

Meade added: “Making our money go as far as possible is important to everyone. It’s important to keep things in perspective and find the right balance between finding easy ways to seek out the best deals and enjoying spending the money that Americans work very hard to earn.”

In March, it was revealed that nearly half of American children are currently living near the poverty line according to research by the National Center for Children in Poverty (NCCP) at Columbia University’s Mailman School of Public Health.

Is Britain headed for another Recession?

World

Elliot

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12 May 2016

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Is Britain headed for another Recession?

Since the great recession, businesses in the UK have been able to utilise technology and social networking to reduce marketing costs. The same principle can also be applied to alternative areas of business, from logistics and operations to the way in which products are sold.

This is particularly true in the case of SME’s, where service providers such as TNT have constantly innovated to create low-cost and efficient solutions. It is this climate of innovation and growth that initially helped the UK to recover from the last recession, although the economy has struggled to return to the peaks achieved prior to 2007.

Which data-sets are pointing to the onset of a recession?

This sluggish recovery is more prevalent in some industries than others, and the most recent data-sets seem to suggest that the UK is bracing itself for another widespread recession.

The nation’s industrial sector is already back in recession, for example, and this represents the third time in eight years such a scenario has unfolded. The Industrial Production Report has revealed that output shrank by 0.4% during the first quarter, marking the second quarterly contraction in a row. This decline, which first set in during the autumn of 2015, also confirms that the industry has suffered its largest annual fall in nearly three years.

Total output in March was 1.9% lower than the previous year, underlining the onset of a recession and the challenges facing businesses in the months ahead.

Beyond the world of manufacturing, concerns are also growing about a marked slowdown in the economy as a whole. The Lloyds Bank purchasing managers’ index fell to 52.1 at the beginning of April, for example, which also represents the lowest point since 2013. A Labour Force Survey has also revealed that the number of jobs created in the UK has not increased since December, as business sentiment continues to fall nationwide.

The storm clouds ahead: Is Britain heading for another recession?

Let’s face facts; these figures are concerning and certainly suggest that the UK is in the grip of an economic decline.

With many data-sets also plummeting to their lowest points since 2013 (which was the year when the the British economy first began to emerge from the shadows of the great recession) there is no surprise that businesses are bracing themselves for a period of austerity later in 2016.

There are statistics that offer optimism, however, including a relatively low rate of unemployment and an improved economic output of 7.3% (in comparison with the previous peak value reported before the last recession in 2008). These figures hint at a solid foundation and an overall basis of economic strength, which may ultimately prevent the UK from falling into the grips of a fully-blown recession.

This has yet to be seen, but there is no doubt that the British economy is set to experience considerable turbulence in 2016.

One thing is for sure; there is no way to accurately predict precisely what will happen in the months or years to come!

Will the Chinese Economic Recovery boost the UK?

World

Elliot

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10 May 2016

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Will the Chinese Economic Recovery boost the UK?

Let’s face facts; China remains a key player in the global economy. It is a linchpin that is often central to widespread economic performance, impacting on other developed nations such as the UK, the U.S and those throughout Europe.

It is estimated that recent deals made with the Chinese will bring an estimated £30 billion in investment to the UK, for example, which will in turn create up to 3,900 new jobs nationwide. While the timing of these deals has been well-received, their nature also highlights the power and influence of Chinese economic forces.

Is the Chinese Economic decline over?

This is why there has been such concern about the performance of the Chinese economy, which has endured a turbulent time over the course of the last 18 months. As manufacturing output diminished and currency reverses plummeted towards the end of 2015, the forecasts for a global recession (and a national decline in the UK) gained considerable momentum.

Not only are there signs that China may be experiencing an economic recovery, however, but it has even been suggested that the extent of the countries plight may have been exaggerated. Some confusion has certainly emerged surrounding China’s currency reserves, which according to conflicting media reports have been both dwindling and rising steadily simultaneously.

Rather than burning their reserves to defend the position of the Yuan, however, it appears as though the figures have been skewed by the U.S Dollar and the currency used by the IMF when publishing data.

In addition to this, recent growth statistics have also helped to discourage talk of a Chinese and global recession. In fact, China’s economy is projected to grow by around 6.7% by the end of the second quarter, with improved output in the automotive and crude steel sectors helping to underpin expansion. This is undoubtedly excellent news for the British economy, both in terms of investment and labour market growth.

Can China’s economic growth be sustained?

Of course, it may be argued that some of the factors that have inspired growth will not be sustained. Experts such as Currency Fair have chartered a decline in value of the Yuan in recent times, for example, which has helped to stabilise China’s export market. Once the value of the Yuan increases on the back of economic growth, however, the demand for Chinese exports may fall accordingly.

For the time being, however, we can expect China’s diverse and powerful economy to continue to grow. Given the recent investment deals struck between the UK and China and Britain’s potential departure from the EU, this growth will also help to drive business sentiment and job creation nationwide. The UK would be wise to capitalise on this, and build on the influence of the Chinese economy while it is prospering.

Will Leicester City’s League win trigger an EPL Spending Spree?

World

Elliot

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4 May 2016

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Will Leicester City’s League win trigger an EPL Spending Spree?

When Manchester City beat local rivals and defending champions United 6-1 in October 2011, many considered it to represent a huge shift in power. Despite losing pride and the league title to their bitter neighbours, however, Sir Alex Ferguson’s response was to invest heavily in star-striker Robin Van Persie and the costly Dutchman inspired United to reclaim their championship the following year.

This captures the Premier League in microcosm, as until this season the pursuit of success has been almost universally fuelled by wealth and spending power.

The Financial Figures behinds the Foxes’ Success

The incredible ascent of unfancied Leicester City has changed the landscape of British football, while raising serious questions about the business model that underpins the coveted Premier League. After all, the Foxes’ inaugural league title has been earned on the back of old-fashioned values such as spirit, team-work and defensive organisation, while even their so-called star performers have been plucked from obscurity and lower league football. The club has also won the title with a minimal budget, investing in free transfers and nominal fees to build a title-winning squad.

In financial terms, cumulative cost of Leicester’s preferred starting line-up this season amounts to a modest £21 million. This is among the lowest in the league, while it is also significantly lower than Champion teams such as QPR and Leeds United. In contrast, it cost £292.9 million to assemble fourth placed Manchester City‘s typical starting eleven, while eight of these players cost more by themselves than Leicester’s EPL team. Despite this, there is a 13 point difference between the two, while the Foxes comprehensively thrashed the Citizens 3-1 at the Etihad in February.

The financial chasm is even greater when you consider the value of Premier League squads. In total, Leicester’s entire squad cost a total of £62.55 million to assemble, which is scarcely more than City paid to purchase Belgian forward Kevin de Bruyne. It is also an incredible £47.10 million lower than relegation-threatened Sunderland spent to create their playing squad, while leading clubs such as Manchester United (£391.1 million) and Manchester City (£411 million) have outspent the Foxes without coming close to challenging their dominance.

Will the Leicester Model break the Mould or break the bank?

This is a real power shift, and with overseas clubs such as Athletico Madrid also outperforming major rivals with a minimal budget, the question that remains is whether Leicester’s model will break the traditional EPL mould?

It would be nice to imagine such a scenario, as this would see larger, wealthier teams place an emphasis on youth development and reinvest their capital into grass-roots areas of the club rather than transfer fees, inflated wages and agent commissions. It would also make sense too, as the financially-prudent success achieved by Leicester and to a lesser extent Athletico (who compete annually with global powerhouses Barcelona and Real Madrid) has helped to reconnect top-flight clubs with their fan bases.

Unfortunately, it is more likely that Leicester’s success will break the bank rather than the EPL mould. More specifically, the leading clubs are likely to dig even deeper in an attempt to blow the Foxes out of the water, especially with incoming managers such as Pep Guardiola (at Manchester city) likely to be afforded upwards of £200 million to spend in the pursuit of new players. In this respect, we should expect to see last summer’s transfer window spending record of £870 million to be shattered, while clubs may even pass the £1 billion mark in a bid to reassert their authority.

Travel agents ahead of global tourism trends

News

Elliot

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29 April 2016

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Travel agents ahead of global tourism trends

UK travel agents are generating millions in revenue and boosting the UK economy as they stay ahead of global 2016 tourism trends.

Travel experts the-travel-franchise.com/ are helping agents and their customers to maximise holiday experiences. Click here for villas.

The typical holiday maker in 2016 is a demanding customer and successful travel agencies have to be fully equipped with a comprehensive portfolio of experiences to offer their customers. Priorities vary for each individual and British tourists might be looking to discover an untouched place, going after a taste of some pure luxury, ticking a Unesco World Heritage site off the bucket list, heading somewhere off the grid to disconnect or simply searching for a no nonsense beach holiday.

The marketplace is diverse and the possibilities for the modern jet setter seem endless.

Considering ABTA’s 12 destinations to watch for 2016 there is a healthy mix of those aforementioned elements. Abu Dhabi, Canada, China – the Silk Road, France, Hawaii (USA), Iceland, Iran, Naples and Apulia (Italy), Peru, Poland, Queensland (Australia) and Sri Lanka offer a wide variety of experiences.

China features in that list but it is not just incoming tourism to the vast Asian country which is trending. Over the past decade the Chinese have been traveling abroad in steadily increasing numbers with the country’s one billion plus population now spending around $500 billion on foreign travel. Recent fluctuations in the economy in China could impact that number over the course of 2016.

For British and European tourists meanwhile there is a growing trend for unplugging and completely disconnecting from work whilst on holiday. Wifi, 4G and the ubiquitous smartphone have changed our relationship with work and travel.

But here the choice ultimately sits with the tourist and the travel agent simply has to make options available. Still want that 4G connection when exploring the wilderness or deliberately going off the grid to escape the grind? Whatever your preference there is a perfect destination out there for you.

The world is becoming ever more connected. Cheaper flights, more flights, a growing awareness of the requirements of tourists in an ever expanding number of destinations, dissolving language barriers, a growing worldwide population and the expansion of horizons means greater opportunity for tourists and for travel agents.

Likewise, that untouched, undiscovered or exotic and remote destination is becoming ever more sought after. Whilst for older tourists a comfortable cruise in the Caribbean or luxury train journey across southern Spain might be the ideal break, millennials in particular are looking for adventure.

Younger travellers are less likely to be concerned about luxury accommodation and more interested in having unique and authentic experiences, getting a true taste of a destination by living like a local, having opportunities to learn something new and trusting word of mouth recommendations from people they meet along the way.

Over the past couple of years, meanwhile, city breaks have taken over from beach holidays as the most popular style of travel. According to Statista.com, London remains the most visited city in the world, having welcomed 18.82 million international overnight visitors in 2015, whilst Bangkok, Paris, Dubai and Istanbul complete the top five.

New York sits in sixth place on the list, with the Big Apple hosting just two thirds the amount of international visitors as London. Rio does not feature in the top 20 of most visited international cities but the beautiful Brazilian city’s unique atmosphere will be promoted throughout August as the 2016 Summer Olympics roll into town.

Featured Image – Source / CC 2.0

The rise, fall and rise of Bitcoin: Steam Now Accepting the Popular Crypto-currency

Finance

Elliot

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28 April 2016

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The rise, fall and rise of Bitcoin: Steam Now Accepting the Popular Crypto-currency

While the pace of technological advancement and innovation remains something to behold, its diverse range of applications are often misunderstood or unappreciated. Take the concept of autonomous cars, for example, which while having the potential to reduce road accidents by an estimated 90% have largely been derided and treated with suspicion.

In some instances, the notoriety of an application actually detracts from the merits of the technology behind it, and this is certainly true in the case of Bitcoin. Despite being underpinned by advanced and diverse Blockchain technology which actually has multiple applications in the consumer mainstream, Bitcoin has continued to dominate the headlines throughout its tumultuous and often turbulent history.

The rise, fall and rise of Bitcoin

While London-based PR firm CCgroup has recently explored the numerous and surprisingly diverse range of potential Blockchain applications, there is far more media mileage in discussing the considerable peaks and troughs of Bitcoin. The standard bearer and market pin-up for crypto-currencies, Bitcoin has enjoyed a short but volatile history that makes for a truly fascinating case-study.

Make no mistake; however, Bitcoin is now on an upward swing after a period of significant turbulence. This has culminated in the decision of game-streaming platform Steam to accept the crypto-currency, in a move aimed at engaging players located in Brazil, China and India. More specifically, Bitcoin transactions and the supporting Blockchain technology will be integrated into the platform, making it accessible to more than 100 million global users. This move reflects the international scope and scale of Bitcoin, while it also highlights the tamper-proof and universal nature of Blockchain.

This is the type of development that Bitcoin innovator Satoshi Nakamoto had in mind when he launched his white paper back in October 2008, which underlined his vision for a peer-to-peer, electronic currency that could be used globally. It looked like this would never come to fruition after a challenging period during the currencies infancy, however, as a perceived lack of regulation and an unfortunate association with Silk Road (and illicit marketplace for drugs trading) undermined its appeal. Now increasingly popular and the subject of significant regulation from various international bodies, Bitcoin may be on the verge of realising its true potential.

What Next for Bitcoin

Having emerged from a grand vision and sunk to the brink of extinction, Bitcoin is finally being established as a legitimate and keenly regulated currency. Last year saw the introduction of New York’s ground-breaking BitLicense, for example, which is recognised as the world’s first digital currency-specific regulatory authority. We can subsequently expect it to become increasingly popular in the digital marketplace, while bricks-and-mortar retailers and other establishments may also begin to consider Bitcoin as a viable payment method.

While Bitcoin’s renaissance and journey towards legitimacy will continue to be well-documented and widely celebrated, however, the underpinning Blockchain technology will probably go unheralded. It is this technology that makes Bitcoin easily accessible across the globe, however, meaning that it is also primarily responsible for the currencies growing appeal.

Airline flight delay & compensation policies

News

Sam Allcock

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18 April 2016

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Not sure if your flight compensation claim will scale through? Here is a look at the flight delay compensation policy as provided under the EU legislation 261.

Compensation is only for EU-regulated flights

An EU regulated flight is one that departed from an EU airport regardless of the airline or where the airline landed at an EU airport. This law means that airports in Norway, Switzerland, Liechtenstein and Iceland are covered, as well as any other EU country.

Claims can only go as far back as 2010

Theoretically, you can file an indemnity for delays dating as far back as February 2005. In reality however, you will not be able to claim settlement for delays over 6 years. In our experience handling thousands of claims, the flight reparation policy for most airlines has 6 years as the limit (as of 2016). This is because the EU does not have a clear regulation on this front and legal requirements in England mean the airline can only be held accountable for events that happened no later than six years ago. The allowance is 5 years for cases in Scotland.

The airline must be at fault

You are due a pay out if the delay you are faced with, is something within the airline’s control. This means that you are due compensation for staffing or under booking induced delays. Delays as a result of bad weather and political unrest do not count.

EU guidelines released in 2013 outline scenarios where passengers can claim compensation. However, case law created over time has invalidated some of the scenarios covered. For example, the guidelines do not have provision for making a claim following a technical problem on the part of the company but many clients have received compensation in such a scenario. The key is to demonstrate that the company did not do everything it could to prevent a delay.

Delays must be at least 3 hours to be valid

You can only claim compensation if your flight was delayed by at least 3 hours. The longer the delay, the more the amount of compensation you are entitled to. Bear in mind that this rule is about when you arrive and not when you leave the airport. Currently, if your flight takes off 4 hours late but arrives 2 hours 55 minutes late, you are not due compensation. But the law may change in future, as it has done in the past. It is also important to note, that arrival time here is adjudged to be when at least one of the doors on the plane is opened not when it touches down. This ruling was made in 2014.

The policy for delayed flights is therefore constantly changing but at airclaims.co.uk, we are always in the loop. You can count on us to take the guesswork out of the process for you.

The battle is on to save Britain’s steel industry

Elliot

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11 April 2016

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The battle is on to save Britain’s steel industry

The United Kingdom’s business secretary Sajid Javid is to update parliament this week on the battle to save the UK’s steel industry. The crisis in the sector has seen the threat of plant closures looming in Scunthorpe and Port Talbot.

Javid is hoping to announce to fellow MPs that Tata’s Scunthorpe steelworks, which have been on the market since 2014, have been taken over by Greybull Capital.

The business secretary has been under major pressure over the steel crisis and he will also aim to provide an update on whether there has been any progress in securing an investor for the rest of Tata’s UK operation, with 40,000 jobs potentially at risk.

Emergency meetings have been taking place and Javid recently visited the Tata chairman, Cyrus Mistry in Mumbai after the firm announced it would dispose of its British assets, which are costing the business £2.5m a day.

Javid believes he may have a potential buyer in the shape of Sanjeev Gupta, the executive chairman of Liberty House.

Steel unions would welcome positive news for the industry regarding the Scunthorpe deal and also hope that the long term future of Tata’s main steelworks at Port Talbot, which employ 15,000 people, can be secured.

Stephen Doughty, MP for Cardiff South and Penarth, delivered a firm message on the subject and was quoted in the Guardian saying: “The question on the lips of steel MPs will be whether Sajid Javid will put anything new or substantive on the table to help save our steel industry, or whether it will be just more warm words like we have seen so many times in the past.”

“Has all the belated jetsetting of him and the foreign secretary in recent days secured any real commitments? Or were they just a last-ditch attempt to look busy and make up for months of failure?”

Featured Image – Source / CC 2.0

Panama papers leave questions unanswered as dust begins to settle

Elliot

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8 April 2016

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Panama papers leave questions unanswered as dust begins to settle

With the benefit of hindsight days after the leaking of documents from Panama-based law firm Mossack Fonseca, one of the world’s largest offshore management companies, serious questions are being asked of the global establishment across all five continents.

Several nations are investigating possible financial crimes by the wealthy and powerful, after 11 million documents held by Mossack Fonseca were passed to German newspaper Sueddeutsche Zeitung. That publication then passed the documents to the International Consortium of Investigative Journalists and in the UK the BBC and The Guardian joined a list of 107 media outlets in 76 countries to examine and investigate the contents.

The BBC state that they still do not know the identity of the original source. Whoever it was has sent political shockwaves across the world this week.

The company at the centre of the storm, Mossack Fonseca, appear to have assisted clients evade tax, but the firm say they have been misrepresented by the leak and deny doing anything wrong.

Iceland’s prime minister Sigmundur David Gunnlaugsson stepped aside this week – reportedly temporarily – after the ‘Panama papers’ revealed he owned an offshore firm with his wife, which he allegedly did not disclose when entering parliament. Gunnlaugsson denies any wrongdoing.

Meanwhile Russia’s president Vladimir Putin is reported by the BBC as denying “any element of corruption” over the leaks, stating that his opponents are trying to destabilise his nation. The papers cited several offshore firms owned by close friends of Putin.

Mr Putin said in a television broadcast, “Western opponents are worried by the unity and solidarity of the Russian nation and that is why they are attempting to rock us from within, to make us more obedient. They’ve found a few of my acquaintances and friends and scraped up something from there and stuck it together.”

The Guardian reports that ‘among national leaders with offshore wealth are Nawaz Sharif, Pakistan’s prime minister; Ayad Allawi, ex-interim prime minister and former vice-president of Iraq; Petro Poroshenko, president of Ukraine and Alaa Mubarak, son of Egypt’s former president.’

Meanwhile in the UK prime minister David Cameron is under scrutiny from media and opposition politicians over an offshore investment fund run by his late father Ian, who passed away in 2010. Mr Cameron Senior’s fund Blairmore Holdings has been registered with HMRC since it was founded and always submitted detailed tax returns. David Cameron admits he sold a profitable stake in the investment fund for around £30,000 before he became Prime Minister.

Featured Image – Source / CC 2.0

New build housing boosts UK property market

Elliot

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6 April 2016

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New build housing boosts UK property market

Before you take a look at the current property market, you would be wise to brace yourself. After all, prices have risen exponentially over the course of the last 18 months, with the recent month of March even seeing valuation rise at their fastest annual pace in more than a year.

With many claiming that the average UK house price could have risen beyond the £1 million mark by 2030, there is no doubt the market is facing a period of steep decline, potential inactivity and a potential collapse. This situation has been exacerbated by a lack of supply, with home-owners keen to retain their most valuable asset as long as the value of the market is increasing.

This is helped to create a seller’s market where demand far exceeds supply, triggering unsightly bidding wars and hugely overvalued price points.

How will the Nation respond?

In truth, this should come as any sort of a surprise. After all, after a leading think tank concluded that 250,000 new homes would need to be built to meet the prevailing demand back in 2014, it was later revealed that just 150,000 were actually completed. This ongoing issue has created a shortfall in housing supply, which in turn has been compounded by rising price points and a desire to keep owned-homes off the market. With the private rental and buy-to-let markets also having thrived recently, owners are more inclined to rent out homes rather than sell them.

So how will the nation respond to this challenge?

As you would expect, the primary response has been to invest in the construction of additional new build home. Private sector firms have even been allowed to purchase public land, creating more space for housing estates and typically uniform designs. It is hoped that these projects will create a huge resource of affordable housing once completed, creating greater equilibrium in the market place and forcing existing vendors to offer superior value to buyers.

Can New Build Housing save the Property market once again?

New building housing is often seen as the saviour of an ailing or imbalanced property market, and this certainly worked in the wake of the great recession in 2008. Then, new build homes were sold as part of initiatives that helped stricken buyers and those with poor credit scores, helping those who had been decimated by the recession to regain their foothold on the property ladder. Times have changed, however, and there is evidence to suggest that new build housing may no longer hold the appeal or influence that it once had.

The plethora of projects has created even more compact and uniform designs, however, while the sheer magnitude of work has heralded the dawn of simplistic structures. Such homes are increasingly impractical and unpopular, with a recent report by the Guardian suggesting that just one in four potential buyers would choose to purchase a home built in the last 10 years. Many would rather rent than buy a new build, while the issue of affordability is also relative in an economy where wages have stagnated while inflation soars.

So while the theory of building new houses is a logical response to a shortfall in supply, it will mean little if the British public would rather hold on to their deposits and rent instead.

Featured Image – Source / CC 2.0

Which data-sets are pointing to the onset of a recession?

The storm clouds ahead: Is Britain heading for another recession?

Is the Chinese Economic decline over?

Can China’s economic growth be sustained?

The Financial Figures behinds the Foxes’ Success

Will the Leicester Model break the Mould or break the bank?

The rise, fall and rise of Bitcoin

What Next for Bitcoin

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