Tesco lost out to supermarket giants over Christmas
One of the leading supermarkets in the UK has admitted that over the Christmas period it lost out to its rival supermarket giants, with the weakest sales growth in nearly two decades. In the run up to Christmas sales levels for Tesco only went up by around 2.5 percent, which was far less than its rival supermarkets. Read more
Low deposit mortgage numbers fall
Industry officials have reported that there has been a fall in the number of low deposit mortgages that are still on the market. This could cause huge problems for potential first time buyers, many of whom do not have much in the way of savings to put towards a deposit and none of whom have a previous property from which to take equity to put towards a deposit. Read more
MPs state loss of personal data should be classed as an offence
Instances of data loss and security breaches by banks, financial institutions and even government agencies have been at the forefront of the financial headlines over recent months, with one of the most major instances of sensitive data loss resulting from the loss of two discs containing the banks details of 25 million customers, which was lost by HM Revenue and Customs last year. Read more
Northern consumers spend more
People in London spend less on nights out and entertainment than consumers in the north and Scotland, according to a new survey. 
Following research that British singletons have a higher disposable monthly income than those in a relationship, David Kuo, head of personal finance at Fool.co.uk, said that Londoners spend slightly less money than their northern counterparts when it comes to going out and socialising,
“The Scots spend about around £74 a month, people in the north spend £72 a month and Londoners only spend around £61 a month,” he stated.
However, the research from Fool.co.uk revealed that while Northerners are more inclined to spend money on going out, Londoners spend more on nights in and dvds.
The research also showed that the average single Brit is £255.42 per month better off than those in a relationship.
Single Brits spends £281 a month on rent and bills, compared with the £500 paid out by someone in a relationship, meaning the singletons make a massive £2,600 saving per year on rent alone.
Court still allowing consumers to sue over bank charges
The row over unlawful and unfair bank charges has been raging for some time, and many bank customers have managed to reclaim past charged for exceeding the overdraft limit and for returned cheques and direct debits – some going back up to six years – after UK financial regulators stated that the fees were unjust and unfair last year. Finally, earlier this year, regulators and banks decided that a test case was needed in order to determine whether or not the charges were fair.
In the meantime courts and judges were advised that pending cases filed by bank customers that were trying to reclaim their charges could be put on hold until after the test case had gone ahead in order to make a decision easier. However, despite this many consumers are continuing to successful sue their banks, which indicates that many courts and judges are continuing to let these actions to through.
One claimant who won nearly £3000 stated that her case was only heard as a result of the bank not turning up to defend itself. She stated: “When it was my turn, I found out that there was nobody from Abbey to deal with my case and went in to face the judge alone. She told me that as Abbey hadn’t turned up to defend against me, she would be finding in my favour, but had Abbey turned up, she would have granted a stay, as that was what they were all doing until after the test case.”
Apart from in Wales, and in Devon and Cornwall, where a blanket stay of outstanding cases has been granted, courts and judges can make their own decisions, and many are doing this on a case by case basis according to some officials.
Tom Smith
29th September 2007
Carry on insuring
With Bank Holiday approaching many people in the UK will be considering a caravan holiday.
Recent research shows that caravanning is quickly reaching popularity levels not seen in the country for decades and is being given an extra injection of cool with a number of high-profile celebrities choosing to spend their holidays this way.
The likes of Kate Moss, Robbie Williams and Jamie Oliver have been spotted enjoying a caravan holiday and the rest of the UK seems to be following suit.
However, Co-operative Insurance (CIS) is warning first-time caravanners to ensure that they have adequate insurance to cover a break of this kind.
“Many people take caravan breaks to escape the pressures of everyday life but it is important that holidaymakers are aware of the potential dangers and keep a watchful eye on their caravan and belongings to ensure that their trip remains stress free,” said David Neave from CIS.
According to the insurance firm, the average caravan claim sits at £1,826, with the most common problem being theft.
This is closely followed by storm damage, a crash, vandalism and accidental damage to contents.
CIS warns carvanners to take precautions such as immobilising the mobile home whenever they stop, fitting an alarm and locking doors and windows.
