I lost my wedding ring on holiday and my insurance company told me I can't claim - who is right?
A This is Money reader lost his wedding ring in the sea and is now looking to claim on insurance
That feeling of frustration can be exacerbated when the item that you are looking to claim on is of great sentimental value.
It makes matters more complicated when you don't have the information that you need to make a claim.
Saga asked for a notification of reported loss, which means that if policyholders can't or don't report a theft or loss to the police, they must provide other independent proof such as a letter from their transport company or hotel.
For many holidaymakers, it would not necessarily be immediately obvious to ask for a letter from their hotel or transport company, testifying to the fact that they had lost an item.
It is understandable that you didn't think to tell the hotel as the ring was dropped in the sea and wasn't somewhere that could likely be found again.
However, it is always worth reading through your insurance policy to make sure that you have everything you need should you have to make a claim.
A representative for Saga said that if an item was lost and the person who lost it did not know exactly when and where, then they would take this into consideration as there would be no obvious person to report it to.
Problem: Saga provided travel insurance for Paul but he is now finding it hard to claim back
In your situation, even though you know when and where you lost your ring, there is still no obvious person to report the loss to.
Saga also asked for proof of ownership. As the wedding ring was over 27 years old, there is no receipt that can be produced confirming proof.
Picture proof is often enough evidence in the digital age to give to insurers as proof of ownership.
If there is a piece of jewellery or a valuable item you are taking away with you, it is worth taking a photograph, just in case something happens and you need to show it is yours.
However, as your claim was turned down, it would seem that it is not always sufficient and that other forms of proof will be needed.
This is unusual as Saga themselves have said that picture proof should be enough so it seems unfair that you aren't able to make a claim.
Greece: Paul was on holiday in Rhodes when he unfortunately lost his wedding ring in the sea
Lastly, Saga asked for proof of the value of your wedding ring.
Although you haven't had it valued, it is highly recommended by insurers that jewellery and other valuables should be valued for insurance purposes.
These valuations should also be updated every couple of years, to make sure that they are correct. It is common for insurers to ask for a valuation when customers are making a claim.
This makes the claiming process smoother and gives customers peace of mind that, should anything happen, they have a way of showing how much their items are worth.
Regarding Paul's claim, Saga added: 'Obtaining a police report or notifying someone of a loss is not always feasible or reasonable so we would take this into account when the claim is being reported.
'We do also deal with cases where people have not got up to date valuations for items and in these situations we work with the customer to ascertain the likely value, based on the description they give us, the metal any jewellery is made from, what carat it is and then look what the likely replacement cost might be.'
Despite Paul's claim being denied, the representative said: 'We understand that people may not have receipts for items such as wedding rings that have been owned for a long time and therefore photographs of items or even the box that the item came in are often enough proof of ownership.'
When asked if someone did not have to hand any of this information, what would happen, Saga said: 'In our experience, people do tend to be able to provide some of this information.
'We always work with the customer to understand what information they do hold in order to help them make a claim.'
Saga have promised to contact you to review your claim.
Saga gave this advice to customers taking out travel insurance:
1) Try to ensure you keep receipts where possible for items you take on holiday as this will make the claim process much smoother if you happen to lose them.
2) Take photographs of your valuable possessions to help ensure that you get a like for like replacement if you do not have a receipt.
3) If an item is stolen on holiday, make sure you obtain a report from the police to pass on to your insurer.
4) If you lose a valuable item then report it to the hotel, restaurant, airline or tour operator where possible to record the loss.
5) If you have valuable jewellery get it regularly valued (this applies as much to home insurance as travel insurance) to make sure you have the correct amount of cover.
If you have cover for personal possessions away from home on your home insurance policy, this may have a more generous single article limit than on travel insurance, so particularly expensive items are best covered under home insurance policies.
6) Where possible leave valuables, particularly cash, in a safe in your hotel, only take as much cash out with you as you think you will need for the day.
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Part of the Daily Mail, The Mail on Sunday & Metro Media Group
November 09, 2018
Sources: Daily Mail
in negotiations over Beijing's tariff war with Washington.</p><p> KEEPING SCORE: The Shanghai Composite Index advanced 0.8 percent to 2,579.76 and Hong Kong's Hang Seng gained 1 percent to 27,013.20. Tokyo's Nikkei 225 added 1.2 percent to 20,655.08 and Seoul's Kospi advanced 0.5 percent to 2,118.18. Sydney's S&P-ASX 200 was 0.4 percent higher at 5,876.80 while India's Sensex shed 0.1 percent to 36,331.84. Benchmarks in Taiwan, New Zealand and Southeast Asia also rose.</p><p> US-CHINA TRADE: China announced its economy czar, Vice Premier Liu He, will go to Washington for talks Jan. 30-31 aimed at ending the tariff war sparked by U.S. complaints about Beijing's technology ambitions. Business groups and economists were looking for Liu and his American counterpart, U.S. Trade Representative Robert Lighthizer, to take part in talks as a sign lower-level negotiations earlier in Beijing made progress. The Wall Street Journal reported Treasury Secretary Steven Mnuchin was willing to roll back U.S. tariff hikes on Chinese goods, though it said Lighthizer and other officials opposed that.</p><p> WALL STREET: Stocks climbed on trade optimism following the report Mnuchin might support a cut in U.S. penalty duties on Chinese imports. Technology, industrial and health care companies gained and makers of chemicals and other basic materials jumped. The Standard & Poor's 500 index rose 0.8 percent to 2,635.96. The Dow Jones Industrial Average added 0.7 percent at 24,370.10. The Nasdaq composite gained 0.7 percent to 7,084.46.</p><p> ANALYST'S COMMENT: Asian markets welcome "the latest indication of further interest from the U.S. to resolve the U.S.-China trade uncertainty," said Jingyi Pan of IG in a report. "While skepticism may well persist, and worries build ahead of Chinese growth figures next week, the driving force for intraday market action belongs to trade."</p><p> JAPAN INFLATION: Inflation in December came in weaker than expected, temporarily putting the central bank farther from its target of 2 percent. Prices rose 0.3 percent, down from November's 0.8 percent, as tumbling food costs offset a rise in energy prices.</p><p> ENERGY: Benchmark U.S. crude 53 cents to $52.60 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 24 cents on Thursday to close at $52.07. Brent crude, used to price international oils, added 50 cents to $61.68 per barrel in London. It lost 14 cents the previous session to $61.18.</p><p> CURRENCY: The dollar advanced to 109.33 yen from Thursday's 109.24 yen. The euro gained to $1.1393 from $1.1388.</p>
to take extra provisions in order to drive in mainland Europe. </p><p>Millions of British drivers wanting to use their own cars on the continent - or to cross the Irish border by road - will need a Green Card, the Association of British Insurers has warned.</p><p>Here's everything you need to know about Green Cards and what they might mean to you if Britain crashes out of the European Union on 29 March 2019 with no deal. </p><p>Green Card: In the event of a no Brexit, UK motorists will need to obtain a Green Card a month in advance to drive their own vehicles in the EU, the Association of British Insurers has warned </p><p>The Green Card is an international certificate of insurance printed on green paper.</p><p>It provides visiting motorists the minimum compulsory insurance cover required by the law of the country being visited.</p><p>It not only allows the movement of vehicles across international borders with proof of existing insurance but also ensure that victims of accidents involving foreign registered vehicles are not disadvantaged.</p><p>Green Cards are required in 47 countries, including all 28 in the European Union, the additional countries that make up the European Economic Area (EEA), Switzerland, Russia and several countries in the Middle East and others bordering the Mediterranean Sea.</p><p>A Green Card is no longer required for travel to the EEA, Andorra, Serbia and Switzerland, though this would cease to apply for UK motorists in the event of a no-deal Brexit. </p><p>Responsibility for issuing Green Cards is given to national organisations - which lies with the Motor Insurance Bureau in the UK.</p><p>However, the MIB delegate this responsibility to insurers for efficiency, meaning motorists need to contact their policy provider to get one. </p><p>The Department of Transport issued guidance to drivers and insurers back in September, assuring the nation's motorists that the cards would be issued free of charge.</p><p>But costs could still increase for car owners, as insurers may choose to impose administration fees to reflect the cost of providing them.</p><p>The MIB says insurers are entitled to charge motorists if cover is increased at the same time the Green Card is issued. </p><p>The provision of this additional cover is at the discretion of the individual insurer, it says.</p><p>A deal has been struck between UK and European insurance authorities in May to waive the need for Green Cards in the event of a no-deal Brexit. </p><p>However, the agreement has not yet been ratified by the European Commission.</p><p>Holidaymakers and businesses are being told they will need to notify their insurance provider around one month before they travel to arrange the extra documentation - or risk breaking the law.</p><p>The same rules will also apply to European Economic Area motorists travelling to the UK.</p><p>A deal had been struck between UK and European insurance authorities in May to waive the need for Green Cards in the event of a no-deal Brexit. However, the agreement has not yet been ratified by the European Commission</p><p>For countries that require separate trailer insurance, a separate Green Card may be required for the trailer as well. </p><p>Failure to obtain a Green Card for your UK-registered vehicle may result in you having your vehicle seized, prosecution or a hefty fine. </p><p>There is the possibility that motorists would be allowed to drive if they were to arrange third-party insurance bought in the country they are driving in, which is called 'frontier insurance'.</p><p>However, this type of insurance may not be widely available, is likely to offer a reduced level of cover compared to what you already have, could be more expensive than UK-issued policies and means vehicle owners will have multiple policies for when they drive at home and abroad.</p><p>The extra documentation needed in the event of a no-deal Brexit would be free, though insurers could increase admin fees to issue them to drivers</p><p>Britons are being reassured that - unlike motor cover - travel insurance will continue to work in the normal way, even in the event the European Health Insurance Card (EHIC) system that allows people some free healthcare in the EU isn't replaced, the ABI said.</p><p>Anyone travelling in the EU after March 29 should 'have their travel insurance documents or their insurer's emergency medical assistance contact number with them as they have the medical expertise, contacts and facilities to help you if you fall ill or are injured abroad', the association added.</p><p>'In the event of severe travel disruption at ports or airports customers are being advised that airlines, travel agents or credit card providers would be the first port of call for financial compensation.</p><p>'If these routes have been exhausted and you have travel disruption cover in place as part of your travel insurance policy, it is possible that you will be covered against some financial losses. However this will depend on your policy so you should check with your insurer.'</p><p>Huw Evans, director general at the ABI, said: 'As it looks increasingly possible that a "no-deal" Brexit may happen, we want all insurance customers to know the facts about what this means for them.</p><p>'If you live in Northern Ireland and drive to the Republic of Ireland, or if you plan to drive your vehicle to mainland Europe after a no-deal Brexit, you will need a Green Card to prove you are insured.</p><p>'You should contact your insurer before you travel in order to get one. This advice applies to businesses as well as individuals.'</p><p>The ABI said it is against the UK leaving the EU without a deal, with Mr Evans warning such an outcome would be 'bad for the economy and bad for our customers'.</p><p>'We continue to hope these arrangements are never needed and urge the Government, UK Parliament and EU27 to agree an orderly way forward,' he said. </p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
les on the continent, or anyone crossing the Irish border by road, have been advised they will need a 'Green Card' if the UK crashes out of the EU on March 29.</p><p>Private motorists and companies have been recommended to contact their providers around a month before they plan to travel to get one - or risk breaking the law.</p><p>British motorists heading to Europe after a no-deal Brexit have been warned to seek a 'Green Card' from their car insurance companies to show they have appropriate cover when travelling in any EU or EEA member state </p><p>Under EU rules, British drivers can travel across the continent without additional documentation proving they have insurance cover. There is no guarantee a similar scheme will be in place in the event of Britain crashing out of the EU in March without a deal</p><p>The same rules apply to European Economic Area (EEA) motorists travelling to the UK.</p><p>Huw Evans, director general of the Association of British Insurers (ABI), said: 'As it looks increasingly possible that a "no-deal" Brexit may happen, we want all insurance customers to know the facts about what this means for them.</p><p>'If you live in Northern Ireland and drive to the Republic of Ireland, or if you plan to drive your vehicle to mainland Europe after a no-deal Brexit, you will need a Green Card to prove you are insured.</p><p>'You should contact your insurer before you travel in order to get one. This advice applies to businesses as well as individuals.'</p><p>An agreement between UK and European insurance authorities was struck in May 2018 to waive the need for Green Cards in the event of a no-deal Brexit.</p><p>However the agreement has not yet been ratified by the European Commission.</p><p>There is currently a Green Card-free circulation area covering the EEA and Andorra, Serbia and Switzerland.</p><p>Systematic border checks of the document as proof of third-party motor insurance have been abolished in the area.</p><p>However, in the event of no-deal this would cease to apply for UK drivers.</p><p>The Department of Transport (DfT) issued guidance to motorists and insurers in September.</p><p>It said that the cards would be issued free of charge, although insurers may increase their administrations fees to reflect the cost of providing them.</p><p>Commercial operators with fleet insurance were advised they will need a card for each vehicle.</p><p>For countries that require separate trailer insurance, a separate Green Card may be required for the trailer.</p><p>Without a Green Card, motorists would have to be covered by third-party insurance bought in the country they are driving in.</p><p>Without it drivers may not be able to drive and could also be fined.</p><p>The ABI said it is against the UK leaving the EU without a deal, with Mr Evans warning such an outcome would be 'bad for the economy and bad for our customers'.</p><p>'We continue to hope these arrangements are never needed and urge the Government, UK Parliament and EU27 to agree an orderly way forward,' he said.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
s of Nissan's former chairman Carlos Ghosn to have him released on bail.</p><p> The lawyers had appealed a rejection by the Tokyo District Court two days earlier of their request that Ghosn, held at a Tokyo detention center since his arrest on Nov. 19, be granted bail.</p><p> Ghosn, 64, has been charged with two alleged crimes — falsifying financial reports by allegedly underreporting his income over the past eight years, and with breach of trust for allegedly causing Nissan Motor Co. to shoulder his personal investment losses and make payments to a Saudi businessman who helped out.</p><p> Ghosn has led Nissan for two decades. He asserted his innocence in court last week, his first public appearance since the arrest.</p><p> France's economy minister has asked Nissan's alliance partner Renault SA to choose a successor to Ghosn. So far they only have named an acting chairman. Nissan dismissed him as chairman days after his arrest.</p><p> Suspects and defendants in Japan can be detained for months before trial, and legal experts say bail requests for those who deny their allegations are less likely to be granted than for those who confess.</p><p> Japanese prosecutors have a more than 99 percent conviction rate in criminal cases and suspects are generally not presumed innocent until proven guilty.</p>
udy has found, after sales slowed to a crawl.</p><p>Rics recorded a difference of 28 percentage points between the number of surveyors who believe sales volumes will continue to fall and those who expect them to go up – the biggest gap since records began in 1998. </p><p>It means property professionals in every region except the North West do not expect the market to recover in the near future.</p><p>Rics member estate agents expect sales to fall over the next three months in every region of Britain, with the exception of the North West where a small majority tip a rise</p><p>In December, a majority of surveyors reported declining house prices for the fourth month in a row. </p><p>However, Rics added that it appeared to be Brexit uncertainty that was denting confidence, as expectations were better beyond spring.</p><p>The report said: 'The twelve-month outlook is a little more upbeat, suggesting that some of the near-term pessimism is linked to the lack of clarity around what form of departure the UK might make from the EU in March.'</p><p>The Rics report polls its member estate agents around the UK and is seen as a key barometer for the housing market.</p><p>The picture painted by December's report was far gloomier than simply a slow festive month.</p><p>Rics reported that new buyer inquiries fell for the fifth month in a row, while there was also less properties coming onto the market, continuing a trend that has lasted six months.</p><p>House prices are forecast to fall in all regions by Rics member estate agents, apart from the North West, where positive sentiment remains strong</p><p>If house prices do fall across all regions except for the North West, as forecast, then it will reverse the upward trend seen in some parts of the UK property market recently.</p><p>While Rics members reported falling prices in markets in London, the South East and West, East Anglia and the North over the past three months, those in the North West, Midlands, Scotland and Northern Ireland said prices were on the rise.</p><p>However, many said the future looked less bright for their local markets.</p><p>Tim Hughes, of estate agents Bartlams, in Wolverhampton, said: The market appears to be slowing down in terms of the numbers of buyers coming forward and the number of potential vendors. We feel that we can only put this uncertainty down to Brexit.'</p><p>This echoed the views of London agents, who have already seen a marked slowdown triggered by Brexit and high prices. </p><p>Jeremy Leaf, of Leaf & Co, in north London, said: 'Political uncertainty, particularly Brexit, seems to be weighing heavily on our buyers at present resulting in price softening and lengthening transaction times. We remain in a price sensitive, needs driven market.' </p><p>House prices have been suffering in London and the South East, with estate agents reporting falling sale prices, but the Midlands, Yorkshire & Humber and North West have fared better</p><p>The Rics report came as separate figures from the Office for National Statistics showed that house prices across Britain rose by just 2.8 per cent in the year to November, with the average property valued at £231,000.</p><p>Simon Rubinsohn, Rics chief economist, said: ‘It is hardly a surprise, with ongoing uncertainty about the path to Brexit dominating the news agenda, that even allowing for the normal patterns around the Christmas holidays, buyer interest in purchasing property in December was subdued.</p><p>‘This is also very clearly reflected in a worsening trend in near-term sales expectations.’ Last month the Bank of England warned that demand was falling and the supply of new homes was also low.</p><p>Surveyors across the country expect the slump to continue as buyers are put off by Brexit uncertainty, research by the Royal Institution of Chartered Surveyors (Rics) has found. Stock picture shows terraced homes in London</p><p>Official figures from the ONS yesterday showed house prices rising in all UK regions except for London over the past year</p><p>Overall property inflation is tailing off, however, the ONS figures showed, with house prices starting to stall</p><p>Extra stamp duty on more expensive homes is also thought to have stalled sales, by making it harder for families to move up the property ladder and out of cheaper, smaller homes usually snapped up by first-time buyers.</p><p>Data from the Land Registry shows a collapse in the number of transactions. </p><p>There were 59,691 sales in England in September – down by almost a quarter from the same month in 2017. In London, the number fell 22 per cent to 6,438.</p><p>The capital – for decades a centre of red-hot growth – was the only region to experience an outright fall in property prices in the year to November, with a 0.7 per cent drop to an average £473,000.</p><p>The West Midlands was the fastest-growing region for prices, with the average property’s value up 4.6 per cent at £197,000. </p><p>East Midlands homes were the next best performers, with growth of 4.4 per cent and an average value of £192,000.</p><p>In England the average value rose by 2.6 per cent to £247,000.</p><p>Wales saw growth of 5.5 per cent to £161,000; Scottish prices rose 2.9 per cent to £151,000; and Northern Ireland prices were up 4.8 per cent at £135,000.</p><p>Kevin Roberts, of Legal & General Mortgage Club, said some buyers and sellers were taking a ‘wait-and-see approach when it comes to the property market’.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>How much tax would you have to pay on a home or buy-to-let?</p><p>*Transactions under £40,000 do not require a tax return to be filed with HMRC and are not subject to the higher rates</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
emier Inn hotel operations, has seen its share price fall over 4 per cent this morning.</p><p>The firm has warned that it remains cautious about its performance within the UK due to 'increased uncertainty and continuing high inflation.' </p><p>Investor opportunity: Whitbread has kicked off a £500million share buyback scheme today</p><p>Whitbread expects underlying pre-tax profit for fiscal year 2020 to be in line with fiscal year 2019. </p><p>For the third quarter ending 29 November, Whitbread's total sales increased by 2.5 per cent.</p><p>UK sales grew by 2.5 per cent over the period, with accommodation sales up 3.5 per cent and food and beverage sales up 0.5 per cent.</p><p>But, on a like-for-like basis, UK sales dipped 0.6 per cent with accommodation sales down 0.2 per cent and food and beverage down 1.5 per cent.</p><p>Whtbread said the London market was strong in the third quarter for Premier Inn, but the regional market continued to weaken due to 'lower consumer and business confidence, along with sustained levels of inflation', and this trend has continued into the fourth quarter. </p><p>Across its Premier In n sites within the UK, the group said its occupancy rates were over 80 per cent, with average room rates coming in at £63.66 a night. </p><p>Chief executive Alison Brittain said: 'Whitbread is now a focused hotel business with over 800 hotels in the UK, Germany and the Middle East, operating under the Premier Inn brand, with a committed pipeline of over 20,000 additional rooms.'</p><p>Ms Brittain added: 'We are cautious about the macro environment for the next financial year due to increased uncertainty and continuing high inflation. </p><p>'Although we are confident in our ability to create value from ongoing investment in the UK and increasing investment in international growth, in this environment we expect underlying profit before tax in FY20 to be consistent with this year.'</p><p>Earlier this morning, shares in Whitbread fell over 4 per cent, but are currently down 2.35 per cent or 112.00p to 4,661.00p. </p><p>Tom Stevenson, investment director from Fidelity Personal Investing, said: 'This is going to be Whitbread's tricky transition year. The former brewer, publican and coffee shop barista sold its Costa chain to Coca Cola at the beginning of this year for £3.9bn. </p><p>Outlook: Whitbread has warned that it remains cautious about its performance within the UK</p><p>'That leaves it with a pile of cash to back its ambitions to grow UK-based Premier Inns into a pan-European budget hotel business. But it's going to take time and profits to February 2020 will be flat, the company warned today.</p><p>'It's hard to keep up with Whitbread, the ultimate corporate chameleon. Under pressure to reduce its conglomerate discount, it bit the bullet and hived off its mature coffee shops to concentrate on growing Premier Inns in Germany, Europe's biggest market, where it is building from scratch. </p><p>'Plans to add 2,500 rooms over the next year will result in a £12m loss in Germany, putting a strain on profits that are already suffering from an uncertain market in the UK.'</p><p>He added: 'Whitbread is a one-trick pony now, so investors must hope that its well-funded bet on cheap and cheerful overnight stays in Europe pays off.'</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
er, High Street darling Primark pulled through to deliver a better-than-expected performance over Christmas. </p><p>Primark sales rose by 4 per cent over the last 16 weeks thanks to new store openings</p><p>While total sales were boosted by new store openings, the firm said it suffered a 'modest decline' in comparable sales over the all-important 'Golden Quarter'. </p><p>Improved like-for-like sales in September, October and December did not quite offset its weaker November. </p><p>Investors breathed a sigh of relief today, however, sending shares up by more than 5 per cent in early trading to £22.88, helping to restore some of the damage done after its hair-raising update last month. </p><p>Primark suffered a 'modest decline' in comparable sales over the all-important Golden Quarter</p><p>ABF - which also has a sugar business and a grocery division including Twinings and Ovaltine - said group sales improved by 2 per cent during the period.</p><p>Tom Stevenson, investment director at Fidelity, said it was a 'sweet and sour' update, with retail remaining 'the star turn'. </p><p>SpreadEx analyst Connor Campbell said Primark is 'bucking the recent retail gloom' as its aggressive expansion countered a slight dip in like-for-like sales. </p><p>Primark 'looks positively robust compared to its peers', he added.</p><p>However, Neil Wilson from Markets.com flagged that Primark's 'gravity-defying' UK growth is slowing. </p><p>'We are seeing much less impressive growth than in previous years,' he said. </p><p>'Ultimately the lack of an online offering will cap sales growth, but as long as it can maintain margins and be the go-to high street brand for affordable clothing it should be relatively OK,' Wilson explained. </p><p>ABF is holding firm to its forecasts for the full year, with Primark still expected to post a rise in profits despite raising the red flag in November. </p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
thanks to a billion pound blunder in the way a key measure of UK inflation is calculated, a Lords committee has warned.</p><p>The committee said the flaw in the Retail Prices Index measure of inflation created clear 'winners and loses', while it called the Office for National Statistics' failure to fix it 'untenable'.</p><p>It is estimated the error, which has artificially increased the rate of RPI by about 0.8 per cent, has boosted holders of inflation-linked government bonds to the tune of around £1billion more a year in interest. </p><p>Students and rail passengers are being unfairly penalised by an openly-admitted error in the way a key measure of UK inflation is calculated, a Lords committee has warned</p><p>But it is costing commuters and students dear, as RPI is used to calculate annual increases in rail fares and student loan pricing. Train fare prices increased again this year, rising by 3.1 per cent.</p><p>The increase outpaced the 2.6 per cent rise in the average wage in 2018, and led to hundreds of pounds being added to the cost of some season tickets.</p><p>The committee also called on the Government to agree to use a single measure of inflation to prevent 'index-shopping' – where it cherry picks the measure that suits it best.</p><p>Lord Forsyth of Drumlean, chairman of the Economic Affairs Committee, said: 'The UK Statistics Authority's refusal to fix the problems it admits RPI has is untenable.</p><p>'By continuing to publish an index which it admits is flawed, it is arguably in breach of its statutory duty to promote and safeguard official statistics.'</p><p>This is Money has long argued that RPI is unfairly penalising commuters.</p><p>The ONS has used CPI as its preferred official measure since 2003 while RPI hasn't had 'national statistic' status since 2013.</p><p>Train companies are allowed to increase fares by RPI - and it has added hundreds of extra pounds onto the already sky-high annual cost of commuting.</p><p>He added: 'This is not just a technical debate. The authority's error created winners and losers.</p><p>'For example, commuters and students pay more because rail fare increases and student loan interest rates are linked to RPI.'</p><p>The committee claims the ONS openly admits the RPI error, but has refused to ask the Chancellor to approve a correction as it believes the Treasury will not want to upset financially index-linked gilt holders.</p><p>An ONS spokesman said the authority was aware of problems with the RPI, but confirmed it had still not written to the Chancellor to correct the error.</p><p>He said: 'We agree the RPI has significant shortcomings.</p><p>'We will therefore continue to work closely with our counterparts in Government and at the Bank of England and respond to the committee.'</p><p>The RPI error has been caused by a change in 2010 to the way clothing prices were collected, which has widened the difference between the RPI and the Consumer Prices Index.</p><p>The gap between the measures has encouraged so-called index-shopping, with the Government controversially switching from RPI to the lower CPI rate in 2011 for annual increases in benefits, tax thresholds and public sector and state pensions.</p><p>Lord Forsyth said: 'When the Government gives money to people it is generally opting to adjust payments for inflation using the CPI.</p><p>'But when it takes money from people, it is generally opting to use the RPI, which has been around one per cent higher than CPI in recent years.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
shington on Jan. 30-31 for talks aimed at ending a costly tariff war over U.S. complaints about Beijing's technology ambitions.</p><p> The announcement Thursday that the official in charge of the Chinese side of the negotiations will participate in person is a possible sign of progress following talks in Beijing this month between lower-level officials.</p><p> Liu will visit Washington at the invitation of the U.S. Trade Representative, Robert Lighthizer, the Ministry of Commerce said. That suggested Lighthizer also might participate, a step economists said earlier would be a sign of determination to reach a settlement.</p><p> The two sides have raised tariffs on tens of billions of dollars of each other's goods in the fight over complaints that Beijing steals or pressures companies to hand over technology.</p><p> The three-day meeting this month in Beijing ended with no announcements of firm commitments or details of what the next step might be.</p><p> The talks are aimed at carrying out the Dec. 1 agreement by Presidents Donald Trump and Xi Jinping to suspend further tariff increases for 90 days while they negotiate, said Ministry of Commerce spokesman Gao Feng.</p><p> Chinese exports to the United States held up through much of 2018 despite Trump's tariff hikes. But they fell 3.5 percent in December compared with a year earlier as the penalties began to depress demand.</p>
there could be some bargains for the brave amid the Brexit storms.</p><p>The UK stock market is trading on a cheaper valuation than its international rivals and some decent prospects have been hit by the overall uncertainty, believes Simon McGarry, senior equity analyst of Canaccord Genuity Wealth Management. </p><p>Last year was a particularly tough for Britain's stock pickers, owing to a number of factors including the US and China trade war weighing on global sentiment and, of course, Brexit uncertainty at home.</p><p>Simon McGarry, of Canaccord Genuity Wealth Management ,tips ITV, home of Love Island to outperform in 2019</p><p>The UK and Europe underperformed, with the FTSE All-Share Index and the E300 Index (of Europe’s 300 largest stocks) down 9 per cent.</p><p>Just three months ago, it looked likely that 2018 would be another good year for US shares, but after a 20 per cent correction between October and December, the S&P 500 ended up just 1 per cent for the full year. </p><p>Some of the headwinds that buffeted stock markets last year still persist, creating an uncertain outlook for shares in the New Year. </p><p>Worries have dragged down the price of good quality companies as well as bad and many now look cheap on a variety of valuation metrics.</p><p>Nowhere is this truer than the UK, which currently trades on just 12 times earnings compared to an average of 15.1 times in 2017 and 17.2 tims in 2016, says McGarry.</p><p>But what are the best value shares with the best prospects? We asked McGarry to list seven he tips to outperform in 2019. Here's what he said. </p><p>Although the majority of Ashtead’s fleet is general construction tools, it has a large speciality business providing a growing source of diversification. </p><p>The US division is expected to deliver robust growth as it benefits from a number of structural growth drivers (for example, US States starting to recognise the benefits of rental; the challenges to owning increasingly complex equipment; and a buoyant US economy driving demand.) </p><p>Ashtead remains highly cash generative and expects to generate £3.5billion of surplus capital by March 2021.</p><p>This will be allocated to organic growth buybacks and acquisitions. </p><p>Price matters when buying shares - and not just because of what they cost you. Whether a company is cheap or expensive when you buy it makes a difference to the potential headroom for gains.</p><p>Some investors prize a price considered cheap compared to a company's fundamental worth above all else, and are called value investors.</p><p>They will hunt for bargain shares that they feel are mis-priced, buying on the belief that their stock should rise again when a catalyst arrives and the market wises up.</p><p>On the other hand, growth investors are happier to pay higher prices for shares they believe can deliver high growth in the future.</p><p>The balance sheet is robust, with net debt/EBITDA (short for earnings before interest, tax, depreciation and amortization) of just 1.8x at the end of October.</p><p>Despite all this, the shares are trading on just 9.0x 12-month forward earnings, which we see as an excellent opportunity. </p><p>Its main line of business is providing capital to fund the pursuit of legal claims, in return receiving a portion of settlements paid by defendants or their insurers. </p><p>The global legal market is estimated to be worth more than $620billion and Burford estimates that litigation finance currently accounts for less than 2 per cent of it, with Burford’s share under 1 per cent. </p><p>However, this market is growing rapidly. Following an already strong 2017, Burford’s 2018 first-half performance was particularly impressive - year-on-year investment income was up 21 per cent $195illion and total revenue up 17 per cent to $205million.</p><p>However, despite this strong first-half performance, the shares have not been immune to global equity market weakness, with the share price down by 30 per cent since the end of August. </p><p>It also owns Guinness and 34 per cent of premium champagne and cognac maker Moët Hennessy. In 2017, it acquired Casamigos, the fastest-growing premium tequila brand in the US, for $1billion. </p><p>Since he became CEO in 2013, Ivan Menezes has focused on improving operations through expanding Diageo’s high-margin premium and reserve brands, as well as investing in markets where it has a leadership position in beer. </p><p>Admittedly, the shares aren’t cheap, as they are trading on 22.3x 2019 consensus forecast earnings – but then high-quality companies rarely are.</p><p>In July 2018, Diageo reported strong first-half results with organic net sales growth of 5 per cent versus a consensus forecast of 4.3 per cent over the period. </p><p>When combined with its dividend yield of 2.5 per cent, this presents a tasty return for investors in search of a premium blend of both quality and income. </p><p>The company has recently shifted from low-margin paper and cardboard into higher value- added packaging and recycling solutions.</p><p>DSS continues to grow its European market share (currently 15 per cent) both organically, having taken corrugated market share in every quarter since 2012, and via acquisitions.</p><p>European packaging continues to grow at a faster rate than economic growth due to factors such as Europeans spending 50 per cent and 40 per cent as much online as their US and UK compatriots respectively. </p><p>With the shares trading on 7.7x current year earnings compared to a 10-year average of 12.4x, this is a great opportunity to buy an out-of-favour stock which continues to deliver strong growth while improving margins. </p><p>Product placements deals such as Costa and the Co-op to appear on the set of Coronation Street has strengthened ITV's financial position according to McGarry</p><p>In January 2018, Carolyn McCall became CEO after five years as CEO of easyJet. On top of an increased focus on digital and production, she plans to build out other non-broadcast revenues.</p><p>Recent examples include landmark product-placement deals for Costa and the Co-op to appear on the set of Coronation Street and for Love Island contestants to wear Missguided clothing. </p><p>The market seems to be fixated on the view that this is a linear TV company and is facing a risk as TV moves online. </p><p>We think this misses the point and much of the supposed decline in TV viewing by younger viewers has more to do with measurement systems not capturing viewing statistics on devices such as PCs and tablets. </p><p>If we see a return to advertising growth in 2019, ITV’s shares could re-rate sharply higher, considering that they currently trade on just 8.9x 12-month forward earnings compared to 11.6x six months ago. </p><p>The majority of its earnings relate to the US (39 per cent) and Asia (35 per cent), with the balance coming from the UK. </p><p>Its management has a track record of efficient capital allocation. Through a mix of superior scale, technology and customer service the company continues to deliver profitable growth. </p><p>With 700 million people joining the Asian middle class by 2023, Prudential’s Asian business also provides exposure to structural growth markets. </p><p>Although the UK accounted for a quarter of 2017 earnings, it is becoming a much smaller part of the overall group. </p><p>However, the dynamics of the wider UK market remain favourable, due to an ageing population with a savings shortfall and badly in need of income.</p><p>On 9.5x 2019 expected earnings, Prudential trades at a discount of over40 per cent to AIA Group, its closest listed peer. </p><p>With profits having doubled from 2011 to 2016 and expected to grow by more than 10 per cent over the next three years, we see this as an attractive entry point for investors seeking a mix of value and growth but with only moderate UK exposure. </p><p>TUI posted annual earnings growth of over 10 per cent for the fourth consecutive year post-merger in December</p><p>Since merging with Thomson in 2014, management has pivoted towards a more vertically- integrated business model with control over all aspects of the customer holiday experience. </p><p>As more than 90 per cent of TUI’s fleet is leased, it can quickly rationalise it in a downturn. Between September 2016 and September 2019 it expects to open 14 new hotels annually and add three ships to the fleet. </p><p>Package holidays continue to be affected by the relentless expansion of budget airlines. While we don’t expect this to reverse any time soon, there are still good growth opportunities for TUI.</p><p>In December, it published full year results to September 2018, with annual earnings growth of over 10 per cent for the fourth consecutive year post-merger. </p><p>This strong performance in a tough environment (where Thomas Cook has issued a profit warning) demonstrates TUI’s successful transformation into an integrated holiday provider. </p><p>Despite this, shares are trading on just 9.2x 2019 expected earnings, a deep discount to its historical price earnings ratio (P/E).</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Work out how a lump sum or regular monthly savings would grow</p><p>Find the top deals in our independent best-buy tables</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>