January sales may not end this year

Officials have stated that the January sales this year are likely to extend far beyond the traditional month, and will most likely go on for the rest of the year, giving consumers the chance to pick up bargains all around the year. Read more

Tags: question, financial climate, janauary sales, retailers, recession, poll, retail sales, key question

Many banks get all clear over bank charges

Following recent hearings in the next stage of the overdraft bank charge High Court case, many of the UK’s banks have received a clean bill of health from the presiding judge, who has said that most customers will not be able to use the law to challenge the terms that the banks in question have used. However, he has not given the all clear to Intelligent Finance or NatWest. And is still looking at the terms laid out by these banks. Read more

Tags: recent decision, bank, overdraft, court, presiding judge, right, bank charges, question

Women need longer to pay off student debts than men

Women need on average five more years than men to pay off their student debts, according to new figures from the government.

In an answer to a parliamentary question, higher education minister Bill Rammell revealed that female graduates need an average of 16 years to pay off their debts, while men need only eleven.

While the minister stressed that having a degree is worth around £100,000 in lifetime earnings, the Conservatives condemned the situation.

Education spokesman David Willetts said: “This shows that women get a raw deal in the labour market. Women’s earnings are more intermittent and still lower than men’s.”

He suggested that the impact of women taking time away from their careers to raise families was a major factor.

However, National Union of Students women’s officer Kat Stark disagreed.

She said: “Women are taking longer than men to pay off their student loans because they are paid less, not because they are taking time off to have children.”

Tags: average, Labour, student debts, higher education minister, question

Gay applicants “fairly treated” by life insurers, says ABI

The infamous ‘gay question’ during life insurance applications is no more, the Association of British Insurers (ABI) reassured consumers today.

Whereas previously, applicants had been asked point-blank to specify their sexuality, the ABI has moved to confirm that, under a statement of best practice implemented in 2005, a more non-specific question regarding HIV status is asked.

Claimants are also reassured that any past negative tests they might have taken will have no bearing on their life insurance.

A spokesperson for the association said that “it’s possible that there has been a perception that applications were not treated in the same way in the past, but now no longer do people have to disclose…what their sexuality is.”

“There is government legislation now which means that you don’t have to disclose whether you’re in a civil partnership, so there can be no way that the insurance company knows what your sexuality is.”

Many gay men had felt unfairly treated by the question, which implied that their sexuality posed an inherent insurance risk, providing the impetus for the reform.

Tags: Association of British Insurers, question, life, past, perception, risk