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Axial chip thinning is a way of "cheating," sort of, to achieve a higher feed rate. At least it seems like cheating. Under the influence of chip thinning, the chip thickness no longer equals the advance per tooth. Instead, the chip is smaller-meaning the rate of advance per tooth can increase.

Motorists face further rises in car insurance premiums during the coming year, one of the country's leading car insurers warned yesterday. Admiral Insurance's chief executive, Henry Engelhardt, said premiums had risen at about 5 per cent over the past year and predicted that they could increase by 6 per cent over the next 12 months. It follows nearly four years of flat rates between 2002 and 2006.

UK intermediaries remain bullish in the face of HSBC's predictions to storm the UK mortgage sector in 2009. HSBC remain the UK's only non-intermediary lender, and yesterday revealed plans to increase its mortgage lending pot by 20 per cent. It also reiterated its desire to not distribute mortgages through advisers.