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Car insurance premiums fall to lowest level in four years

Car insurance premiums are the lowest they have been in four years because of a dramatic fall in claims as a result of the lockdown. 

The average car insurance quote cost £679 in April, according to data compiled by online comparison site comparethemarket.com. This is the lowest since March 2016 and is down £43.20 from last April.

April’s figures are £33.12 cheaper than last month and since February 2020, when the effects of the virus began to take hold in Britain, the average insurance premium has fallen £56.

Drivers that bought cover earlier this year, or have renewals later in

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Europe’s level playing field has disintegrated

North and South are today pursuing radically different policies, according to their economic means, and this will lead to radically different outcomes when Europe emerges from the Covid-19 depression.

“It destroys the argument that the EU is rule-compliant. It hits that narrative on the head,” says Prof Lorand Bartels, an expert on trade law and Brexit at Cambridge University.

It is also poisonous for the EU project itself. As matters stand, Barnier’s negotiating demand is that Britain must swallow the whole acquis of competition and state aid law – and future acquis through “dynamic alignment” clauses – as a condition

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HSBC sees credit losses surging to highest level in a decade

HONG KONG — HSBC Holdings warned that its provisions for loan losses in 2020 could surge to the highest level in a decade due to the coronavirus pandemic, after it reported on Tuesday that first-quarter profit tumbled 48%.

The London-based bank said it sees its expected credit loss for the year in the range of $7 billion to $11 billion if a prolonged recession were to occur. That compares with a $2.8 billion charge for all of 2019 and a $7.5 billion average for 2020 based on brokerage-firm estimates compiled by the bank.

Signs are already there, with Singapore oil

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