Italian car giant Maserati is believed to be planning on putting a new model into production to rival the latest Porsche 911.

According to reports in the Italian media, Maserati is beginning to plan its rival for the 911 with a mid-engined, two–seater sports car.

The suggestions comes from the Maserati hierarchy, with Harald J. Wester, the company’s chief executive, being cited as saying that the car will be known as the GranSport and that it will be sold for just under €150,000 (£121,000).

It is believed that the GranSport will use a Ferrari 4.7 litre V8 alongside its double-clutch transmissions.

This will be the first time that Maserati has made a mid-engined road car in around 33 years, with the Merak in the 1970s being the car maker’s last effort.

The Merak was a popular car and so we can only hope that their latest effort is something equally as good.

It looks as though it will have to be something special if they wish to challenge the mighty 911.

Household finances are being hit hard having risen at almost double the rate of inflation over the last decade, new research suggests.

According to Santander, the cost of household bills rose by a staggering 71 per cent between 2001 and 2011.

Gas and electricity bills were found to be the main cause of the problems, the former trebling in price with the latter doubling.

Inflation was found to have risen by a total of 38 per cent, while the average salary rose by just 24 per cent, from £16,964 in 2001 to £21,093 in 2011.

The organisation’s banking director, Carlos Palacios, said: “People have already been forced to make a number of adjustments to their lifestyles to cope with the hikes, and many will struggle to cope with further increases.”

His final comment is mirrored by the fact that one in ten said they would not be able to cope financially if bills were to rise any further over the course of the next 12 months.

Plans for the Titanic II vessel to be put into production have been given the green light by manufacturers.

Billionaire Australian mining magnate Clive Palmer is the man behind the ship, which will contain 840 rooms and nine decks, and is planned to set sail from England to New York in 2016.

The vessel will be the height of maritime luxury thanks to its on-board gymnasiums, swimming pools, libraries, high-class restaurants and luxury cabins.

In a statement, Palmer said: “It will be every bit as luxurious as the original Titanic but of course it will have state-of-the-art 21st century technology and the latest navigation and safety systems.

These people produced work that is still marvelled at more than 100 years later and we want that spirit to go on for another 100 years.”

The ship will weigh-in with hefty measurements of 270 metres in length, 53 metres in height and a total weight of 40,000 tonnes.

A charity auction in Aiken, South Carolina, is offering the chance to pick up a truly sublime car – a red ’68 Corvette.

As the Prince song suggests, the Corvette will certainly offer a great deal of speed under its bonnet and bidders will also be able to swell the coffers of the American Cancer Society.

Proceeds from the auction will go to support the charity’s Relay For Life and bidders will certainly get plenty of bang for their buck.

The Corvette comes with black interior and soft convertible top as well as a 327-cubic-inch engine, complete with 350 horsepower.

Don and Cricket Arbaugh, who donated the Corvette, told the Aiken Standard: “We’ve had this car a couple of years. I bought it for her because 1968 is the year she graduated from high school. It’s my dream car.”

The fundraising goal for this year’s Aiken Relay is $250,000 (£154,500) and organisers will be hoping the Corvette can make a big contribution.

A letter penned by the leader of the band on the Titanic just five days before its famous sinking has sold at an online auction for $155,000 (£95,000).

The letter written by Wallace Hartley, 33, was purchased by an investment group from the US and was mailed during the ship’s stop in Queenstown, Ireland, before it came to its fateful end.

Reuters report that Hartley led the eight-piece band responsible for playing soothing and calming melodies while it slowly sank into its Atlantic grave.

The news service also reports the letter as reading: “We have a fine band and the boys seem very nice.”

Bobby Livingston, an executive with RR Auction, said: “It was a microcosm of the whole tragedy. There was the hope he was going to see his parents again.”

The letter also suggested that Mr Hartley felt confident about making a good amount of money on-board the ship, writing: “This is a fine ship and we ought to have plenty of money on her”.

The piece’s history, as well as its inscription of ‘On board RMS Titanic’, are both sure to have played a part in the impressive price tag of the letter.

A parenting writer has suggested that pocket money is the perfect way to educate children when it comes to the value of money.

Liat Hughes Joshi, who is also the author of ‘Raising Children: The Primary Years’, believes that the tradition of offering small amounts of pocket money can work wonders later in life.

The amount need not be anything too extravagant, she says, and could start at as little as £1 a week, but this will help out with their financial education – a vital skill to learn.

Ms Hughes Joshi said: “Around age six or seven is a good time to start, as by this stage they’ve normally built sufficient maths understanding to get what their pocket money is about.

It’s a fantastic first introduction to saving and budgeting.”

Her advice comes just after it was announced that the UK had entered the grip of a double-dip recession with many experts calling for greater education for young people in terms of finance.

The heads of two extremely famous and profitable groups, Apple’s Tim Cook and Ferrari’s Luca di Montezemolo, have met face-to-face.

In what was undoubtedly a meeting of minds, and maybe even future collaborations, Cook not only met di Montezemolo and exchanged a chat, he also had a good look at the company’s FF model too.

The Ferrari Cupertino was also on show with di Montezemolo leaving the two-hour meeting saying that both companies had been connected by one thing, passion.

Following the meeting, di Montezemolo said: “I was impressed by his availability and openness.

We’re building cars, they build computers. But Apple and Ferrari are connected by the same passion, the same love for the product, maniacal attention to technology, but also to design.”

Who knows, we may even get to see some form of collaboration between the pair in the future.

Imagine Ferraris fitted with built-in iPads or some other form of Apple technology, we can but dream.

A luxury yacht used by Prince William and the Duchess of Cambridge prior to their wedding is set to go up for sale.

The royal couple were photographed relaxing on the 40-foot Tapeka Point vessel in Ibiza during 2006 as was Kate’s sister Pippa Middleton.

According to the Bournemouth Daily Echo, given that the yacht has such close royal connections, it has gone on to create significant interest from America, the Far East and China.

John Ensmore, spokesman for Bournemouth-based online auction company Asset Bidder, told the newspaper: “The auction has started and we’ve had lots of interest.

The starting price is around £120,000 and we’ve taken bids from the United States and even a couple from China.”

We’re advertising elsewhere and I’m confident it will get a good price.”

When the images were first circulated, they caused great commotion around the world as interest grew in both the couple and Pippa.

The world’s first ever motorbike is set to be sold at auction for £21,000, despite being worth just over £60 in its day.

According to Bonhams auctioneers, the Motor-Wheel was manufactured back in 1899 when its riders would have had to rely on blocks in the road should they wish to stop.

It includes a pedal cycle as well as a fuel tank hanging under the cross-bar and was originally made possible following the invention of the world’s first cast alloy wheel.

Owners will be hoping it can come somewhere close to the Brough Superior SS100, which sold for a huge £300,000 when it was sold at auction.

When it was first made, the Brough was thought to be the fastest vehicle on the road, recording speeds of 125mph.

Who knows how reliable these bikes were in everyday use? All we know is that we’ll certainly be keeping an eye on its performance in the auction.

A journalist and life coach has advised parents to try and teach children the value of money from an early age.

Joanne Mallon, who is also the author of ‘Toddlers: An Instruction Manual’, believes that in these currently difficult economic times, teaching the value of money and of ‘saving-up’ is essential.

She claimed that by simply handing out gifts and presents, children would never realise the full value of money which could affect them later on in life when financing for themselves.

“It’s one of the most important lessons we as parents need to teach them – particularly in our current, cash-strapped times,” Ms Mallon said.

Children usually don’t have any innate sense of the value of money. It’s something that we as parents have to teach them. If you simply dole out cash and gifts willy-nilly, how can you do that?”

It was recently revealed that the UK had entered a double dip recession, with many predicting further financially difficult times ahead.