4:46 am, April 6, 2024
£9.9bn paid out in motor insurance claims last year
Motor insurers paid out a record amount in claims last year, according to the Association of British Insurers (ABI).
The £9.9 billion paid out in 2023 is the highest annual figure since the ABI started collecting data in 2013.
The total was up by 18% on the £8.4 billion paid in 2022.
News DS3 and 4 hybrids revealed
DS Automobiles has revealed hybrid versions of its DS3 and DS4 hatchback models.
Both models will come with a 1.2-litre three-cylinder petrol engine producing 138bhp coupled to a new six-speed dual-clutch automatic gearbox that incorporates a 28bhp electric motor – there is also a 0.9 kWh lithium-ion battery that helps boost the electric system.
Around town and at lower speeds, the new hybrid system allows both cars to run on pure electric power which helps improve fuel economy by 40 per cent, according to DS.
Right to ask for flexible work from day one begins
New rights to request flexible working should benefit millions of workers, according to workplace experts.
From Saturday, employees will have the legal right to request flexible working from their first day in a new job.
Previously it only applied if someone had worked for their employer for 26 weeks or more.
Peter Cheese, chief executive of the Chartered Institute of Personnel and Development (CIPD), said: ‘This new day one right stands to benefit millions of people, helping them to balance their work and life commitments and give them more say and more opportunity in where and how they work.’
Six operators to reduce or cancel trains today
Rail passengers will suffer fresh travel chaos on Saturday when more operators are hit by strikes by train drivers in a long-running pay dispute.
Members of Aslef at six companies will walk out, leaving some areas with no services all day.
Chiltern, TransPennine Express and Northern will not run any trains, while there will be reduced services on Great Western Railway (GWR), LNER and Heathrow Express.
National Insurance cut introduced
Millions of workers will receive a national insurance cut as the new tax year gets underway, helping to ease some of the strain on household budgets.
The main rate of employee national insurance will be cut from 10% to 8% from April 6 – the first day of the 2024-25 tax year.
When combined with a cut previously announced in the autumn statement, this will save the average worker on £35,400 more than £900 a year, the Government has said. About 27 million workers will benefit from the reduction.
Thames Water holding company default on debts
The holding company behind Thames Water has told creditors it has defaulted on some of its debts.
It comes after Kemble Water Finance Limited failed to meet a deadline to pay interest payments due on the firm’s debt.
Thames Water’s financial struggles worsened last month when it said its investors had pulled a £500 million funding lifeline that was due to be paid at the end of April.
Some of that was understood to be earmarked to pay the loans owed by Kemble.
Friday Car Dealer headlines you might have missed
- FCA extends deadline for some Gap insurers as it reviews responses from providers
- Grand result for Snows Motor Group customer as they win £1,000 in used car sale draw
- Bumper raises £2m from Suzuki and Marubeni in latest funding round to extend fintech reach
- Aston Martin expands ultra-luxury retail strategy with showroom at five-star Tokyo hotel
- US dealer AutoNation eyeing move to pounce on Inchcape’s UK dealerships
FTSE 100 closes week with steep drop
Those still holding out hope that London’s top index can push to all-time highs soon were dealt another blow on Friday as the FTSE 100 closed the week with a fairly steep drop.
The FTSE 100 fell 64.73 points, or 0.81%, to end the day at 7,911.16.
Retailers especially seemed to lead the downwards push, with Ocado, JD Sports, B&Q owner Kingfisher, Sainsbury’s and Primark owner AB Foods all dropping towards the bottom of the index.
Warn continental wind incoming
Storm Kathleen is expected to bring both strong winds and the hottest day of the year so far for the UK, as it pummels the country with warm air from the continent this weekend.
The Met Office said temperatures could reach up to 22C in East Anglia, while western areas will see gusts of up to 70mph on Saturday.
The forecaster has issued a yellow weather warning for wind in the north west and south west of England, parts of Northern Ireland, Scotland and Wales, from 8am to 10pm on Saturday.
