Last updated: Friday, 12 March 2010

Finance News

£650m insurance bill after freezing winter

The British insurance industry footed a bill of £650 million this winter as people in the UK endured the coldest winter for 30 years.

New York pays out for Ground Zero dust victims

New York authorities have agreed to pay US$657.5 million to workers at Ground Zero who have suffered ill-health due to the dust created by the 9/11 World Trade Centre attacks.

Mortgages experience slump in 2010

According to the Council of Mortgage Lenders (CML), the number of house purchase loan applications fell sharply in England and Wales during January 2010.

Global air industry improving

The International Air Transport Association (IATA) has halved its 2010 loss forecast from US$5.6 billion to $2.8bn following a marked recovery in global air industry passenger numbers.

Tullow Oil reduces Ugandan assets

Tullow Oil has announced its intention to sell two-thirds of its stake in its Lake Albert Rift Basin in Uganda, while its 2009 results reveal profit before tax down 93%.

OTHER TOP NEWS

Bill Gates knocked off top of Forbes Rich List

Northern Rock reduces its losses for 2009

Insurers pay the cost for natural disasters

Royal Mail strikes a deal with union

Sir Edward Elgar £20 notes withdrawn

Contactless card limit increased to £15

Real Madrid tops list of revenue-rich football clubs

Over half of UK workers don’t expect pay rise

UK business say no to NI hike in 2010 Budget

Portsmouth FC enters administration

Northern Rock takes another step to independence