Often it is easy to get left behind with the constant EU updates in laws and practices and example being a business who works in flammable areas and the law is changed from having fire extinguishers in certain places, to a requirement that intrinsically safe equipment is now a legal and insurance requirement, it gets even more complicated if this business travels to different countries which have a different set of laws and regulations.

In short business insurance is not something you take out and then just renew every year without reviewing cover. It may not be the insurance company’s change in policy, but adjustments that fit in with new regulations and laws being pressed on that particular industry.  So if it is intrinsically safe equipment, a smokers area outside or just insurance to cover you working alone in an office, make sure you review the policy every year and keep up with regulation change.

Sports Direct, being in financial trouble, hopes that this move will help them break into the lucrative US sportswear market, as it does very little business in the US currently.

Dave Forsey, chief executive of Sports Direct, said: “The Sports Direct board is confident that this acquisition will benefit our wholesale, licensing and retail businesses, while providing us with a significant stepping stone into the important US market.”

Mike Ashley, the retail entrepreneur and new owner of Newcastle United, brought Sports Direct to the market in February, with high hopes.

But the company’s shares have fallen from 300p to 180p and has had problems with the City, causing chairman David Richardson to step down.

Sports Direct will fund the acquisition with existing credit facilities.

At the moment the pub companies are not generally committing themselves to a plan of action. Nonetheless this has given these share prices some support. Indeed, many of the pub shares have had a stellar run over the last year. During a period when the FTSE100 has risen some 15%, Punch Taverns have made 52%, Mitchells & Butlers 72% and Enterprise Inns 53%. The FTSE250 has risen 29%, and its constituent JD Wetherspoon has spiked by 56%.

Another sector that is going to be most affected by the ban would be the tobacco companies themselves. These will enjoy an inelastic demand no matter how many obstacles like smoking ban are going to be put in front of them. Many of these companies are moving there operations to cheaper less developed countries earning those higher profits and new target markets of these countries. The share prices for tobacco companies have also been strong, with Imperial up 33% over the last year, and BATS up 24%. Market consensus positively rates Imperial, whilst BATS is seen as an extremely strong buy and probably the pick of the sector.

The smoking ban, where introduced, has had its casualties like the Bingo industry where people have stayed away in their droves now that smoking cannot be continued in bingo halls. This have also effected the share prices of bigger bingo companies. FTSE250 constituents Ladbrokes has seen just a 4% rise in its price over the last year, whilst the Rank share price has been completely flat.

There have, been other companies who have quickly adapted to the change and are now taking advantage of the new situation such as the manufacturers of outdoor heaters targeting those smokers who will continue to visit pubs, even if they must spend some of their time outdoors.

The news had Northern Rock’s shares falling over 10pc and is on the heels of four interest rate increases since August. The Bank of England is expected to increase rates to 5.75pc, maybe as soon as next month.

In an update, Northern Rock claimed that it’s underlying profits will now be between 403m pounds and 457m pounds in the current financial year. This is an increase of 15m pounds since 2006. The City had been expecting an increase of 17pc.

Northern Rock also said that the quick rise in rates over the past year will hit profits by between 180m pounds and 200m pounds as it has not passed it’s borrowing costs to some customers.

Britain’s biggest mortgage lender HBOS also warned not that long ago that its share of new mortgages had decreased by more than half. Northern Rock’s shares had fallen 9pc to 862.5 pc in early morning trading.

Sir Ronald Cohen has said that something must be done before the situation turns violent. The close friend of Gordon Brown also raised the spectre as it was shown that some of Britain’s richest were attacked by a powerful Commons committee by getting out of paying high taxes via a loophole.

Last week it was found that some entrepreneurs are paying a lower rate than their cleaners. Ordinary citizens are outraged that these wealthy entrepreneurs were receiving huge tax breaks.

Labour MP Sion Simon was quoted as saying, “There is a sense you are taking the mick. You are too rich, you are making too much money, and you are not paying enough tax.” Sir Ronald was concerned that the same riots that took place in Paris in 2005 could happen in Britain if the poor were left behind.

Sir Ronald then explained that entrepreneurial economies who grow quickly and also lead to job creation does lead to large difference in wealth. When this happens, it only takes a spark to lead to a violent reaction.

However, Sir Ronald was placed under scrutiny when it was said that he has non-domiciled tax status in the UK, meaning he doesn’t have to pay tax on income earned overseas. Some say it’s hypocritical of him to say there is anything wrong with the tax laws.

Televisions

When buying televisions it’s important to not only have your budget in mind. Taking into consideration the size, picture quality and convenience is also important. When thinking about size, consider how much space you have. The room that the TV goes in needs to fit both the television and the people watching it. If the TV is going to sit in the room and not be hung on the wall, a good choice is the traditional CRT TV which has the longest life expectancy and is also the cheapest option.

Picture quality is also important when choosing a television and it’s also one of the things that will add to the price. Beware of huge plasma TVs that boast a low price – the picture quality might not be what you’re seeking. Remember that the brightness of a plasma TV decreases from the moment you buy it and the common problem of “burnt images” on the screen is likely to only hold this TVs shelf life at about 3 years.

DVD Players

The cost of DVD players has gone down from hundreds of pounds to being able to buy one at the supermarket for closer to 20 pounds. Now the next generation of DVD players is out with that heavier price tag. Sony has just included Blu-ray technology while Toshiba has introduced HD-DVD. As they both have different benefits, even Hollywood studios are torn over which option to choose. Make your decision wisely and consider all the features and which are right for you.

Game Consoles

Game consoles now are not just used for gaming but are also complete entertainment systems. The downside to this is that if there is a problem with one component of the system, it affects every function. Because of this, it may be wise to invest in insurance cover. Beginning in March the retailer Game has offered extensions on the manufacturer’s standard warranty for added protection.

However, if you need to go to your local shop to buy some sandwiches or a drink, you still need to have some spare change in your pockets. But this is all about to change; you may even be able to protect the pennies in your pockets from ever seeing daylight.

In September the banking industry plans to introduce a ‘contactless’ credit and debit card system across the UK that will allow you to pay for items costing less than £10 by just swiping their card across a reader.

You will be able to buy newspapers, tea coffee, smaller priced items without even having to hand over your card. All you will need to do is flash it across the reader and the money will be deducted. Such similar schemes have been in use for years in Hong Kong, where people can buy these cards from their local seven eleven and use the card for multiple purposes like bus fares, local shops and ferry fares.

These cards will work in exactly the same way as credit cards but you will have to memorize pin numbers, it will be used as a pay-as-u-go card. These cards will able to be topped up by online banking or at local shops.

This scheme is initially set to hit the London region where a sample test of 1000 machines shall be installed after which the same trend shall then be installed throughout the country. There will be over 100,000 places that will accept this card and where the machines shall be in installed like, restaurants, vending machines, newspaper shops, pubs and sports stadiums.

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For more details check the source:

http://www.mailonsunday.co.uk/pages/dmstandard/frame.html?in_bottom=http%3A%2F%2Fwww.thisismoney.co.uk%2Fcredit-and-loans%2Farticle.html%3Fin_article_id%3D420066%26in_page_id%3D9%26ct%3D5

This article was previously wriiten for Finacebam last May