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Six in ten consumers ‘overcharged on household bills’

Posted on Tuesday, 10th July, 2012 by Mobile Money

Many cash-strapped consumers saw the tough financial climate made even worse after being overcharged on their household bills in the last year, according to uSwitch.com. The price comparison website discovered that 57 per cent of Brits paid more than they were meant to at least once over the 12 months. Furthermore, 13 per cent of those affected by miscalculated invoices have still not recovered th...Continue Reading

Countryside residents ‘being hit by increased inflation’

Posted on Friday, 6th July, 2012 by Mobile Money

People in the UK countryside are seeing their financial stability adversely affected by an unusually rapid increase in inflation rates among rural regions, according to a new report. Rural insurer NFU Mutual has published its latest Countryside Living Index, which reveals that year-on-year inflation levels in the countryside averaged 7.7 per cent over the last 12 months, compared to the national a...Continue Reading

UK consumer savings ‘heavily impacted over the last year’

Posted on Thursday, 5th July, 2012 by Mobile Money

People in the UK have found it increasingly difficult to save money over the last 12 months, according to a new study from financial institution NS&I. The company’s latest quarterly savings survey has revealed that 23 per cent of Britons are saving nothing from their monthly salary packet at the moment, a rise from 17 per cent last spring. On average, UK consumers are saving around £87 ...Continue Reading

Consumers ‘still facing rip-off card payment surcharges’

Posted on Tuesday, 3rd July, 2012 by Mobile Money

Consumers are seeing their already parlous financial positions placed in even greater jeopardy by the unreasonable charges they are incurring on credit and debit card payments. A report from consumer group Which? has stated that too little is being done to prevent a situation in which payments via card-based methods have become subject to extortionate mark-ups. Research conducted into 13 airlines ...Continue Reading

Consumer confidence report highlights continued gloom in June

Posted on Tuesday, 3rd July, 2012 by Mobile Money

Consumers remained as gloomy as ever about the UK’s economic prospects in June 2012, according to a new industry report. Analysis carried out by market research company GfK has revealed a consumer confidence rating of minus 29 for the last month, level with the number recorded in May 2012. Those polled demonstrated the same low level of optimism about their personal financial prospects over ...Continue Reading

Barclays hit with record fines for interest rate manipulation

Posted on Friday, 29th June, 2012 by Mobile Money

The reputation of Barclays Bank has been dealt a major blow after the financial institution was hit with record fines over claims it has been manipulating key interest rates for its own gain. A penalty of £59.5 million has been issued to the bank by the Financial Services Authority (FSA) over misconduct relating to interference with the London Interbank Offered Rate (Libor) and its European equiv...Continue Reading

New figures show double-dip recession worse than feared

Posted on Friday, 29th June, 2012 by Mobile Money

The double-dip reason may be deeper than originally feared, as new figures show that the economy took a sharp decline in the final quarter of 2011. Between October and December last year, UK gross domestic project decreased by 0.4 per cent – instead of the previously estimated 0.3 per cent. Shadow chancellor Ed Balls was blunt in his assessment of the government’s economic plan, saying...Continue Reading

UK parents having to support children financially for longer

Posted on Friday, 29th June, 2012 by Mobile Money

Parents are increasingly having to financially support their children well into their adulthood, placing their own fiscal stability in jeopardy, according to a new study. Research carried out by insurer LV= has revealed that 4.4 million grown-up kids in the UK are currently receiving some form of monetary assistance from their parents, with each of these “chadults” costing their famili...Continue Reading

RBS cancels Wimbledon corporate hospitality following IT meltdown

Posted on Thursday, 28th June, 2012 by Mobile Money

Royal Bank of Scotland (RBS) has been forced the cancel its corporate hospitality at this year’s Wimbledon tennis tournament following a major IT systems glitch that has left thousands of consumers without access to their cash. The parent company of NatWest and Ulster Bank hosted clients at Wimbledon for the first two days of the championships and had planned to continue to do so for the ent...Continue Reading

ONS figures reveal falling average incomes in 2010-11

Posted on Thursday, 28th June, 2012 by Mobile Money

Average disposable income declined in 2010-11, with many households hit by a fall in wages and salaries. The economic downturn means many businesses have implemented salary freezes or reductions as they look to hold on to staff while cutting costs and this has had an effect on spending among homes across the country. According to new figures from the Office for National Statistics (ONS), household...Continue Reading
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