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Preparing to Weather the Storm

By Jessie Wilkens on August 7, 2011 in Investing

Recession risks will rise unless British banks raise the amount of money they lend to business and individuals.  This is according to Business Secretary Vince Cable who was interviewed with The Sunday Times.

“The top priority now, to boost growth and jobs and avoid a double dip (recession), is making the banks lend again,” Cable said to the newspaper.  On Wednesday the Bank of England is expected to downgrade its forecasts for economic growth in Britain.

“People’s living standards have been quite badly hit. That is only going to change if we get sustainable growth. It’s too difficult to say when,” Cable continued in the interview.

In terms of its liability in relation to the EU debt crisis as well America’s weakening economy and downgrade, Britain remains strong enough to weather it unlike in 2008. “Back then, Britain was at the centre of the hurricane. This time round we are on the edge of the storm,” he said.

 

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Luxury Property Boom in London

By Jessie Wilkens on August 2, 2011 in housing

While you might be having trouble putting bread on the table in the UK, some of your neighbors are doing just fine. The prices for luxury homes in the capital are actually soaring at the moment, even with the austerity program in place and so many people struggling to make a living and have a roof over their heads.

Housing in London

New figures show that prices for central London properties that are worth more than £1million actually rose by almost 10% in the last year. This is in comparison to houses across the UK which lost .4% of their value.

These figures, put together by real-estate broker Knight Frank and included homes in in Belgravia, Hyde Park, Kensington, Chelsea, Mayfair, Notting Hill, Marylebone, St John’s Wood and Knightsbridge. The average price of these homes is £3.7million.

Buyers From Elsewhere

So who is snapping up these pricey homes? Some of them are being purchased by buyers in Russia and other parts of the Soviet bloc, while others are being purchased by Middle Easter tycoons. As Stuart Bailey, head of Knight Frank’s Belgravia and Knightsbridge office, said, ‘These buyers are coming from politically unstable countries. It’s an exit strategy.’

Gráinne Gilmore, who is the head of UK residential research at Knight Frank, said that the capital should be ready for even more rises in prices this year. Interestingly, London is really the choice for foreign buyers. More than 60% of all homes that are prices over £2million have been getting purchased by overseas buyers. This figure is even higher than that in New York, where 15% of the sales are to foreigners.

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Kate Declares She Is Not A Clothing Horse

By Jessie Wilkens on August 1, 2011 in fashion, The Royal Family

At least someone in the British royal family seems to be watching her pocketbook. The Duchess of Cambridge has shown impressive restraint and good common sense in her recent clothing choices.

Repeat Dresses

Arriving just days ago at Zara Phillips’ wedding, Kate donned the same dress that she was seen wearing more than five years ago. The beautifully chic embroidered coat was one that she last wore in 2006 to Laura Parker Bowles wedding.

Similarly, at the pre-wedding cocktail party she wore the same green Diane Von Furstenberg dress that she wore earlier in the month during her tour of Los Angeles.
Earlier in the year, she was spotted wearing the same blue jacquard coat dress to the Duke of Edinburgh’s 90th birthday party that she wore in 2009.

No Clothing Horse Here

Sources say that the Duchess told a friend that she didn’t want to be a “clothes horse” and that she planned to wear her outfits more than once.

As she was quoted as saying to a friend, “Times are tough; I cannot be expected to wear a new outfit for every royal engagement. I am not a fashion model.”

Good for her! What a breath of fresh air in an uptight monarchy.

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Alexander McQueen Will Revealed

By Jessie Wilkens on July 27, 2011 in fashion

Don’t we all wish that we were Alexander McQueen’s dogs. That’s because, as his will has recently revealed, he left £50,000 of his £16million fortune to his dogs. The money will go into a trust and will ensure that those beloved dogs are taken care of during their lifetimes. What a relief.

Donating his Fortune

McQueen, who died last year, donated almost all of the rest of his fortune to charity. He gave £100,000 each to The Terrence Higgins Trust, Battersea Dogs and Cats Home, the London Buddhist Centre and the Blue Cross sick animal centre in Burford, Oxfordshire.

The rest of his money has been left in a trust for his Sarabande charity. While he didn’t specify what has to be done with the money, he asked the charity to consider using it to fund bursaries and grants for students from the Central St. Martin’s College of Art and Design in London.

His housekeepers were lucky to be in the same class as his dogs. He left £50,000 for “long and faithful service” to his housekeepers, Marlene and Cesar Garcia. Unfortunately, Mr. Garcia was the one who found McQueen when he hanged himself in his Mayfair flat almost 18 months ago.

He also gave £50,000 to his godson and the same amount to each of his nieces and nephews. £250,000 was left to each of his three sisters and to his two brothers.

Huge Success in Fashion

Certainly, McQueen will be remembered as a hugely successful fashion designer. He hanged himself on the eve of his mother, Joyce’s, funeral and was said to have struggled with depression, with the pressures of his work and with his mother’s death.

The Alexander McQueen fashion house continues to be incredibly influential. Kate Middleton’s intricate wedding dress, designed by Sarah Burton of the Alexander McQueen fashion house, received rave reviews and is the latest of the many success stories of McQueen.

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Amy Winehouse Will Keeps Fielder-Civil Out

By Jessie Wilkens on July 26, 2011 in UK arts

If Amy Winehouse’s ex-husband is looking for a piece of the financial action from her death, he’ll need to look again. That’s because the famous singer made sure to leave nothing to Blake Fielder-Civil in her will.

Taking Measures After Divorce

After their divorce in 2009, Winehouse made sure that her air-tight will indicated that he would receive nothing upon her death. Indeed, her death came this week, and she will be cremated today following a Jewish service for friends and family.

Growing Fortune

Her fortune was estimated at £6million last April on the Sunday Times Rich List, and is reported to have surpassed £10million now.

Legal experts assume that her fortune will now be divided among her mother, Janis, her father, Mitch and her older brother, Alex. A close family friend warned, however, “Don’t expect everything to be straightforward. Janis is very sweet, but very meek and not in the best of health, Mitch is always the one in charge.”

Affairs in Order

A close friend told the Daily Mail that Amy Winehouse made sure to put her affairs in order and to write her will when her two-year marriage to Fielder-Civil ended in divorce. As the friend said, “Around the time of the divorce, all of Amy’s finances were sorted out – and Blake can’t get his hands on any of it.”

Of course, Fielder-Civil’s mother, Georgette, said from her home in Ruskington, Lincolnshire that, “He’s devastated and profiting from Amy’s death would be the last thing on his mind.”

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Profiting from Sperm Donation

By Jessie Wilkens on July 25, 2011 in UK government policies

Get ready for a whole new experience of choosing your child’s characteristics. That’s because future moms will soon be able to select the sperm of their choice based on personality traits, interests, and even fashion styles. The London Sperm Bank is in the process of compiling a new brochure that allows for written statements from each donor.

More Sperm Details

Donors can explain why they donated and can give a bit of information about themselves. And, there are staff assessments that give even more details of each donor.

The clinic describes one donor, for instance, as “softly spoken, introspective, deep thinking” with a “neat, relaxed style.”

Sperm Shopping Online

Even better – women can do their sperm shopping online from a new online catalogue, so they won’t even have to go into the clinic to pick their man.

Paying for the Sperm

While some countries pay quite well for sperm donation, the UK is not one of those places just yet. Donors can only earn up to £250 to cover expenses and loss of earnings, but the Human Fertilisation and Embryology Authority is considering whether to allow companies to pay sperm donors more for their services.

Apparently, sperm donation is on the rise in Britain, with 396 cases in 2008 as compared to 251 in 2005.

While a change in the law six years ago gave children born from sperm donations the right to know who their biological father is, this has not slowed the interest in donating sperm.

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Diana, Princess of Wales Memorial Fund Closing

By Jessie Wilkens on July 20, 2011 in The Royal Family

If you’ve donated to the Diana, Princess of Wales Memorial Fund, it’s now time to put your money to another purpose. That’s because, after being set up in 1997, and after receiving more than £100million in donations that were distributed to 350 causes, the fund is finally closing.

End of a Fund

While some believed that the fund would continue forever, the spokesman for the organization explained that it was “never intended to last forever.” They plan to work on spending the remaining £13million before they close at the end of 2012.

Fund Criticism

The fund has come under attack at times, as people have accused it as not having Diana’s most important issues at its forefront. The fund president, Diana’s elder sister Lady Sarah McCorquodale, has certainly worked to fulfill Diana’s interests.

Controversy

In another controversy, the fund fought and lost a legal battle to try to stop Franklin Mint from making Diana dolls. They ended up having to pay£1million in legal costs and £13.5million to American charities, all part of their settlement out of court.

As a fund spokesman explained their current plans: ‘It will close its doors by December 31, 2012. Until then, it is continuing to work with its partners to ensure that it leaves a lasting legacy of social change.’

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Hefty Fines for Trash Derelicts in Bedford

By Jessie Wilkens on July 19, 2011 in UK government policies

Be careful about being lazy with your trash bin – or you just might be slapped with a £1,000 fine. In Bedford, at least, the local authority just issued warning letters explaining this potential fine. The council chiefs explain that the bins on the pavements can be hazardous to blind people.

Government Condemns Fines

The new threat comes on the back of the Government condemnation of such a fine, explaining that it would be draconian punishment for a small infraction. Ministers have said that they will be coming up with a law that would strip councils of the ability to levy such large fines.

The letters went to over 65,000 homes in Bedford, however, and said that people will have 24 hours to bring their bins back into the yard.

Heavy Handed Approach

As one Bedford resident said, in response to the stiff penalty threat, “It’s an absolute waste of council money and time to have people walking the streets checking if someone has put their bin away. I understand the principle of keeping the streets clean but the council has put across its point in the wrong way. It is being way too heavy-handed.”

Safety First

A spokesman for the authority explained why they are taking such drastic measures. As he said, “We’ve been working with Sight Concern Bedford and the Royal National Institute of Blind People to encourage households to put their wheelie bins away, to help make pavements safer for blind and partially sighted people.”

Time will tell if the Bedford area will really go through with the drastic fines which are more severe than are the fines for shoplifting and for many other criminal acts.

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Kate Middleton’s Kate Effect Takes on Zara

By Jessie Wilkens on July 13, 2011 in fashion

Kate Middleton has done it again. Coined the “Kate Effect” she has been elevating certain designers to new heights simply by wearing their designs.

Zara Reaping the Benefits

One floral tulip dress in particular, by High Street label Zara has been going crazy. A line-up of famous people from Olivia Palermo and Denise Van Outen to Elen Rivas and Rebecca Ferguson have been seen in the identical floral tulip dress recently.

The dress has completely sold out and has since been removed from the store’s website. Even before Kate came on the scene, wearing a £49.95 blue polyester Zara dress just one day after her wedding, this Spanish fashion brand was doing pretty well. Now, however, after the £69.99 floral outfit hit the stands, women haven’t been able to get enough of the design.

Opening Up Internationally

This April a store opened in Australia at the new Westfield in Sydney and shoppers apparently bought up 80% of the stock within three minutes of the stor opening! A second store then opened in Melbourne last month and one Australian fan was quoted as saying about the Zara label,

“Thank God, we won’t be a third-world fashion country any more.”

One the same day last week, socialite Olivia Palermo was spotted at the front row of the Stephane Rolland Haute Couture show in Paris in the dress as was Spanish model Elen Rivas coming out of the London Mayfair Hotel.

Zara Moving Into Even More Locations

Zara is working full steam ahead. The Spanish owner of Zara, Inditex, is the world’s largest fashion chain. They have been opening 12 stores a week this year and plan to expand across South Africa, Taiwan and Peru to make their “fast fashion” accessible to all. They have plans to open 120 stores in China and to bring a Zara website to the U.S. market soon as well.

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Speeding Good for the UK Economy

By Jessie Wilkens on July 11, 2011 in UK government policies

Apparently, speeding was very good for the economy under the Labour government. New information has recently been released that shows that the government was earning as much as £10,000 every hour during the final years of Labour as a result of speeding tickets.

Cashing in on Speeding

More than 17 million motorists were hit with penalty fines, according to the first full research on speed cameras. The figures were published for 2005 through 2009 and show 8,282,905 fixed penalty notices that were issued in England and Wales. Each offense included a fine of £60, adding up to a total of £496,974,300 over a five year period.

Tory MP David Ruffley, who found the figures, said that,

“Labour treated the British motorist like a massive cashpoint machine on wheels. Half a billion pounds in five years is a colossal amount to milk from motorists for speeding. I have yet to meet anyone who thinks these sums have been invested to improve our road network.”

Labour Increasing Cameras

During Labour’s rule, they had a massive increase in speed cameras and they increased the amount of each fine from £40 to £60 in 2000. When Tony Blair was first elected in 1997, the motoring fines were at £28.5million, but in 2009 the figure was more than doubled at £68,161,320.

And, all of the money collected through the fines is taken by the Treasury.

RAC Report

The RAC Report on Motoring this year found that 74% of drivers feel that speed cameras are being used to raise money more than they are to improve road safety. As a spokesman said, “RAC calls on all local authorities to carry out an independent audit of their speed cameras to ensure those that make roads safer remain and those that do not are considered for removal. RAC also wants the Government to consider raising the speed limit to 80mph on appropriate stretches of motorway under the right conditions.”

While supporters of the cameras insist that they have saved lives, experts say, instead, that they cause motorists to drive erratically and not to concentrate on the road as a camera comes into sight. According to an ICM poll, more than 80% of drivers say that they stare at their speedometer instead of at the cars and the road when they see a camera in front of them.

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