The Royal Mint has launched a coin to mark the handover of the Olympic Games from Beijing to London. The £2 coin was presented by Boris Johnson to the Mayor of Beijing Guo Jinlong on Sunday. The design shows two hands passing the Olympic flag encircled by the words Beijing 2008 and London 2012. It is the first legal tender UK coin to display the Olympic emblem.

According to this article food prices have risen by 9.5% in the last year. The increase is the highest for 15 years and is despite the fact that the main supermarkets claim they have been making cuts. The figure for fresh food is up by 10.8% for the last year according to the British Retail Consortium. The increasing cost of food, fuel, gas and electricity is currently outpacing salary rises and means that many families are having to cut back just to afford the essentials.

Morrisons have cut the price of petrol by 2p in the latest round of the supermarket price wars. Oil prices have recently fallen but oil giants have been criticised for falling to pass on the savings to the consumer. Price reductions can often take weeks to filter through but any cuts should in the wholesale price should reach the pumps within days. However, it appears only the supermarkets are passing on the bulk of these reductions. Morrisons have cut their price by 2p off a litre of diesel and unleaded with Asda saying it will do the same. Tesco have also said it will match the lowest local petrol price at its forecourts.

The wedding list company Wrapit has called in the administrators leaving 2,000 couples without their wedding gifts. The company which is based in Wandsworth was set up in 2000 and allowed wedding guests to buy presents from an online list. It handled up to 3,000 wedding list a year but has made a loss for the last six years and has failed to honour orders worth £3.5m. HSBC has said it will ensure any guests that used their credit cards will receive a refund but an estimated 20,000 people who brought gifts using switch and Maestro debit or who paid by cheque are unlikely to receive their money back.

If you have a lot of outgoings that need to be settled before you get your pay check, then you might want to look a payday loas The loan as the name suggests is a short team loan designed to give you a bit of extra cash to see you through until you get paid. You can apply for a payday loan online using the three minute application form and it can often be approved within the hour. You just need to have proof of a steady income, proof that you have a bank account and proof of residency. Because Payday Loans are different to personal loans they do not require a credit check so even if you have a poor credit history as long as you meet the criteria you should still be approved.

Sony have announced a fall in profits with the net profit down 66.5bn yen from a year ago. The news comes due a strong yen and price competition and is despite the fact that Playstation sales are still strong. Sony have said that that its net profit in the year to March 31 2009 is likely to total 240bn yen down from an earlier forecast made in May of 290bn.

European scientists are working on an idea that could use solar energy from the Sahara to power parts of Europe. The plan would see vast fields of solar panels set up in the desert and would cost around £35.7bn. Because the sunlight is more intense the solar panels could generate up to three times the electricity compared with similar panels in Europe. Under the plan countries across Europe would also share electricity from green resources such as wind energy in the UK and Denmark and geothermal energy from Iceland and Italy.

Some of the leading supermarkets have recently cut their fuel prices. The cuts are as a result of the recent drop in oil prices. Asda has dropped its prices by 3p a litre, Morrisons cut prices by 4p and Sainsbury's have said they will offer a 5p a litre reduction for customers who spend £50 or more in store.

The government is looking at introducing a rent first buy later scheme to inject some new life into the housing market. Under the scheme people with household earnings under £60,000would be able to rent a property at a discounted rate for two or three years. They would then have the option to buy part of it. The government hopes that the scheme will benefit 75,000 first time buyer households to get on the property ladder.

The Chancellor has scrapped plans for a 2p rise in fuel duty. The rise was meant to take effect in October but the Chancellor has said he will suspend the rise to help motorists and businesses through the difficult economic conditions. The rise has now been put off until next April when it will be dealt with in his next budget. Road user groups have welcomed the announcement but have said more needs to be done to help motorists and hauliers.

Ministers are looking at cutting stamp duty in an effort to boost the housing market. Under the plan first time buyers could be offered stamp duty "holidays" and other home buyers could have tax rates reduced. Ministers are also looking at the possibility of raising the price bands at which stamp duty is charged. Currently stamp duty in charges at 1% on homes between £125,001 to £250,000, 3% between £250,001 and £500,000 and 4% over £500,000. As a result homebuyers have paid a record amount of stamp duty over the last 10 years according to official figures. I certainly think the price bands need looking at, you can't buy much for less than £125,000 these days, perhaps a shed somewhere and for first time buyers finding that extra cash just to line the governments pockets can be really hard.

I was thinking of getting a new car, perhaps something that has a lower fuel consumption to try and cut down on the fuel bills. Before I consider the car itself I thought I would check out an auto loan. Looking around I came across this website called up2drive that specialise in auto loans and say they can lower my payment. They finance all makes and models and have no hidden cost or application fees. You simply complete their secure online credit application and submit it online. The website also has a handy payment estimator so you can input the loan type and amount that you require and get an idea of what the rate will be before you even apply.

Santander have brought Alliance and Leicester for £1.26bn, less than half the UK lender's value at the end of last year. The banks had held talks about a possible deal last December when Santander was prepared to pay nearly 700p a share for the bank. Since then Alliance and Leicester's share price has dropped due to recent market turmoil. Santander will combine Alliance and Leicester with Abbey which it purchased in 2004. It also plans to inject £1bn of capital into Alliance and Leicester to cover rising bad debts and further treasury write downs.

When booking a holiday you might want to check the small print to see what is says about fuel surcharges. This article highlights a case where a couple were hit with a surcharge of £892 a few months before they were due to set off on a cruise holiday. In their case the extra charge was simply too much to afford and they had no choice but to cancel the holiday. Unfortunately because the charges amounted to £8 less than 10% of the total holiday cost they were not entitled to a refund of the £900 deposit they had paid for the £9,000 holiday.

A survey by a rail watchdog has found that only four out of ten passengers feel they get value for money. Its hardly surprisingly when you pay to use a service where you rarely get a seat and in many cases can hardly find standing room on a train. The same report found that people are 5% less satisfied with the service than in 2007 with satisfaction ratings falling for 13 companies since spring 2007. One of the main things that passengers were dissatisfied with was fare increases.

eBay have been ordered to pay 40 million Euros in fines for selling fakes. The company will have to pay the money to LVMH, a French luxury goods group because they have allowed fake versions of their products to be sold on the eBay website. LVMH demanded 50 million Euros in damages after claiming that eBay's French business has not done enough to prevent users selling counterfeit items. LVMH also told the court that in 2006 90% of the LVMH branded goods for sale on eBay were fakes. eBay plans to appeal against the decision and says it quickly removes any goods that are found to be counterfeit.

Tesco is currently having talks about selling its property website. The website was launched in June last year with a view to undercutting traditional home sellers. At the time some estate agents took legal action to stop properties they were marketing appearing on Tesco's website. Now one of those who originally criticised the website are having talks regarding buying the business. Spicerhaart is the UK's largest independently owned estate agency network. They would own and operate the business with Tesco marketing it.

Well, maybe not world domination but lots more coffee shops. Whitbread plans to double the number of Costa coffee shops and increase the number of Premier Inn rooms by 50%. The company announced the plans after it unveiled better than expected profits. There are currently 992 Costa coffee outlets worldwide but Whitbread will increase this to 2,000 in the next five years with half of the new shops being in Britain.

I read this article the other day that suggests its worth shopping around for your car insurance. Apparently lots of people fall into the trap of staying with the same insurer rather than looking for a better rate. The problem is that often the insurance company will only offer its best rate to new customers so people, who stick with the same insurer year after year, tend to lose out and often end up paying more. The only problem I have is finding the time to look around for a better deal. Comparison websites such as www.autoinsurance-4u.com can save quite a lot of time. You just have to enter your zip code and the website brings up a whole list of cheap auto insurance companies in your area. Then you just fill in the online form to complete your quote.

JJB Sports has announced that it is shutting 72 stores with the loss of 800 jobs. JJB currently has around 400 outlets in the UK. The closure plan comes after a business review by the new management which found the stores are unlikely to make a contribution to profits and that many are close to newer and larger stores. The stores will close by the end of this month.

Tesco are due to announce record profits. They have managed to make a £5,300 profit for every minute of last year, a total profit of around £2.8bn. This is 6% more that their profits for the previous year and about the same as the combined profits of Sainsbury’s and Asda. They have benefitted from growth within the UK and the expansion into international businesses in Poland, Hungary and South Korea.

HSBC are latest company to admit to losing customers’ personal data. The information was on a disk that was password protected but was not encrypted. The disk contained the personal details of 370,000 customers including names, dates of birth, policy numbers and details about their insurance cover. The disk was lost after being sent by courier to the groups Southampton office.

BT has been named as the worst landline provider in a customer satisfaction poll. In a survey of 11,000 customers BT got the lowest score for all but two categories for home phones. uSwitch.com claims that around three million of BT’s 10 million landline customers are dissatisfied. Other surveys have found that BT offer poor value fro money and fail to sort out problems. Citizens Advice also found that 89% of all landline complaints are about BT.

The last UK lender to offer a deposit free loan has now withdrawn the deal in a move that appears to signal the end the 100% mortgage. Abbey withdrew its 100% mortgage yesterday making it the last lender to do so. Buyers will now need a deposit of at least 5% before they can purchase a home. The move is likely to make it harder for first time buyers to get a home loan and specialists are predicting that lenders will soon start to drop their 95% mortgages and perhaps even insist on a minimum deposit of 10%.

The high street pub chain which owns the Slug and Lettuce and Litten Tree chain has gone into administration after failing to find a buyer. The group currently has 90 loss making bars within the 330 site group. 239 of the pubs and restaurants were immediately brought from the administrators but 90 sites will remain under their control.

Tesco has launched an inquiry to investigate claims that its overseas workers are paid as little as 8p and hour. There have been reports that job agencies have been charging migrants up to £1,500 in order to place them in a job at Tesco in Malaysia. The agencies also tell the workers that they will earn between £180 and £215 a month. However in practice, they find that they end up working 360 hours a month for only £20 to £50 after various deductions have been made. Tesco have promised to investigate the claims and have said they will make improvements if necessary.

The fashion chain Morgan will close all 40 of its UK stores because of losses. The chain has suffered because of competition from cheaper rivals and the slowdown in consumer spending.

A new biomass power station has just been opened near Lockerbie. The power station which is owned and operated by E.ON is the largest wood fired power station of its kind in the UK. The plant converts waste from the wood industry into energy and will provide enough power to supply up to 70,000 homes. The power station will also create 50 jobs.

I have been aware of payday loans for some time but until now I thought they were only available in the United States. It appears that there are now companies such as Payday UK offering the service within the UK. For those that haven’t heard of the term a payday loan is basically a short term loan that is designed to help you though the month until you get paid, hence the name. The idea is that you can get immediate access to cash and the amount is fully repayable on your next pay day.

To get a payday loan all you need to do is fill in an online application form detailing your income, how long you have been with your company and how often you are paid and within a few minutes you will know whether or not your application has been approved. Then you just enter your bank details and you should receive your money within 48 hours. You can borrow anything from £80 up to £750 for a small charge, just £25 based on a £100 loan. On the agreed pay day your bank account is then debited for the balance of the loan. If you do need to defer the loan then you can also do this but you need to repay the charges on the original loan.

Scottish and Southern Energy will raise its domestic energy prices by an average of 14.2% for electricity and 15.8% for gas. The company is the last of the big energy suppliers to announce a price increase, following announcements by Npower, EDF Energy, Scottish Power, British Gas and E.On. They blame the increases on the rise in wholesale energy prices. The increases mean an average electricity bill will rise by £50 whilst a gas bill will increase by around £85.

If you play a lot of golf you might want to consider getting some golf insurance especially as there are around 12,400 golf related injuries every year. Golf Care offers a package that covers you against damage to property, personal injury and personal liability. It also covers you against the theft, loss or damage of you equipment. The prices start from only £29.99 a year for their bronze package which includes cover for equipment of up to £1,250 and personal accident cover of up to £50,000 as well as cover for third party equipment and dental treatment.

BA shares have fallen after they issued a warning on profits. They have said that its profits could fall by 25% over the next year because of rising oil prices. The price of crude has hit an all time high of $105.97 a barrel meaning that the airline will have to abandon its target of making profit margins of 10%.

Household water bills are set to increase by 5.8% on average across England and Wales. The regulator Ofwat said that the increases will mean the average combined bill will be about £330 a year, a rise of about £18. However, in some areas of the country the combined bill rise is as much as 8% although the increase is actually lower than last years average price increase of 7%. Customers of South West Water will see the smallest rises of 3.7% on their annual water bill meaning and increase of £18. Southern Water customers will see an increase of £26, whilst Wessex Water customers face an increase of £29.

As someone who uses my car rarely I have not really noticed a rise in fuel costs. This article, however, suggests that drivers are now paying around £18.84 a month more for fuel. Petrol now costs 17p a litre more than it did this last year with the average price at £1.04p a litre. This means that a driver with an average 50 litre fuel tank pays £8.79 more every time they fill up with petrol. Diesel is up too, having soared to an average price of £110.3p a litre compared with 91.1p a year ago. The huge rises have been blamed on the weak dollar and unrest in oil producing countries. The situation however, is likely to get worse, if Alistair Darling goes ahead with his plans to add an extra 2p per litre to fuel duty. Business groups and the motoring lobby are currently calling for the government to scrap the planned rise in the light of rising prices.

npower are the latest energy company to report a massive rise in profits. The firm has reported a 41% rise in profits making £724m last year. The news comes after British Gas reported a fivefold increase in profits. The consumer group energywatch have launched an investigation into household bills amid concerns that companies are profiteering at the expense of their customers. News of npower's profits came only weeks after it raised electricity bills by 12.7% and gas bills by 17.2%.