The Scotsman says women are set to take over the millionaires' club.
Its view is based on a report from think-tank The Centre For Economics and Business Research, which suggests 53% of UK millionaires will be women by 2020.
The reason is their ability to outlive male equivalents, and the rate of increase in maximum divorce payouts.
The Guardian picks up the story by noting there should be about 1.7m millionaires by that date. That overall growth will be based on a predicted 71% rise in the housing market, less disposable income going on mortgage payments, and growing returns from equities and other investments.
THE DAMP WEEKEND across the country is picked up by The Times, which carries a warning from Lloyds of London that despite a good first half of the year in terms of weather-related disasters, the market now faces the start of the hurricane season. Last year’s hurricanes – most notably Katrina, which wiped out much of New Orleans – cost the industry some £35bn in payouts, and forced Lloyds into a £103m pre-tax loss after a profit the year before of more than £1.3bn.
The Times notes the typhoon season typically runs from July through November, and the hurricane season from August through October.
IN A NEW twist on the current oil price spikes set off by BP’s announcement it would have to shut down part of its North American production in Alaska because of leaking bore and other pipes, The Times suggests the events of the past week could have the opposite effect and help push US lawmakers to opening up the area to more rather than less drilling.
The reason for this, the paper says, is that Alaska accounts for close to 10% of current US domestic output, which means lawmakers may be persuaded that opening up a massive wildlife refuge in the state to drilling is a better way to offset the risk of future shutdowns to key oil producing facilities. BP’s production drawback has threatened to send pump prices on the US East Coast to new record highs, the paper adds.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Jonathan Boyd on 020 7484 9769 or email [email protected].IFAonline
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