Business World

Monday 18 November 2019

1,300 a week give up health insurance

Photo: Thinkstock
Photo: Thinkstock

MORE than 1,300 people a week are giving up private health insurance, new official figures show. Some 16,000 consumers opted out of private health cover in the three months to June, according to the Health Insurance Authority. In the year up to June, 61,000 people stopped paying for private medical cover. VHI continues to be the dominant player with 57pc of subscribers, but it also has 90pc of the over-80s.

No change in Bank of England rate

UK ECONOMY

The Bank of England has kept its key lending rate at 0.5pc and decided not to increase its economic stimulus programme of bond purchases. Analysts believe there will be no move to increase the amount of bond purchases before November, when the most recent commitment of £50bn (€63bn) is spent.

Upbeat jobs figures emerge from US

employment

US private employers added a stronger-than-expected 201,000 jobs in August and new claims for jobless benefits fell last week to the lowest level in a month, upbeat signals for a struggling labour market. Another report showed the pace of growth in the service sector accelerated last month.

AIG launches sale of its stake in AIA

INSURANCE

American International Group launched a widely expected sale of a stake in its former Asian unit AIA, providing the insurer with funding to help repurchase up to $5bn (€3.9bn) of its stock from the US government.

Apple loses delay bid in Samsung row

TECHNOLOGY

Apple lost a bid to delay Samsung's request to lift a preliminary ban on US sales of its Galaxy Tab 10.1 computer until after a judge considers Apple's request to bar some products permanently. US District Judge Lucy Koh denied Apple's request to reschedule the December 6 hearing for a permanent ban on US sales of eight Samsung mobile devices ahead of a September 20 hearing on Samsung's request to lift a preliminary sales ban on the Galaxy tablet.

Irish Independent

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