August 2011 Archive

Consumer confidence falls to recession alert levels

Consumer confidence has fallen for the third consecutive month, according to the latest Gfk NOP poll

The latest Gfk NOP consumer confidence survey reveals the overall index has fallen to -31, a level reached on only three other occasions, two of them forming a prelude to a recession.

How to cut the cost of travel money

Go online to find the best deal on foreign currency

Brokers that advertise currency exchange with 0% commission might not be offering as good a deal as you think, because the exchange rates are not competitive. Go online and compare to find the best deal.

CBI reports tough times for high street retailers in August

The CBI has reported tough trading conditions for retailers in August

The Confederation of British Industry (CBI) has reported that retailers have face the toughest trading conditions for more than a year in August.

BT raises prices by up to 5% for 2nd time in 2011

British Telecom is raising the cost of calls by up to 5%

British telecom has joined other major providers of essential services in raising prices at a time when inflation and job security are putting a huge strain on households across the UK

CBI: Retail sales down again in August

Retail sales fell in August, according to the Confederation of British Industry

New figures from the Confederation of British Industry have revealed a sharp contraction in retail sales volumes this month.

Cost of living for students rises by £42 in 12 months

The cost of living for students has increased by more than five per cent each year since 2004, according to new research

New research reveals that the cost of living for a student has increased by £42 in just 12 months and that does not take into account the changes to tuition fees that will take effect shortly.

37.4% of gas and electricity customers don't know how much they are paying

Many UK utility customers are unaware of what they are paying, according to research by Moneysupermarket.com

Research from Moneysupermarket.com reveals that 37.4% of people don't know how much they are paying for their gas and electricity despite a raft of recent price rises from the big six energy companies.

Ofgem ramps up energy pricing probe

Ofgem is to enhance its pricing investigation

Regulator Ofgem has drafted in accountancy firm BDO to scrutinise the pricing practices of the UK's biggest energy suppliers.

Finances worsened 'for 40% of households' in August

Households are finding it more difficult to balance the books, Markit has revealed

Household finances worsened in August to the lowest level since its index began in 2009, Markit has revealed.

Petrol price drop 'not being passed on to consumers'

Consumers are not feeling the benefit of wholesale petrol price reductions, the AA has said

A fall in the wholesale cost of fuel is not being reflected in the price at the pump, the AA has revealed.

Ofgem asks energy companies to explain billing

Ofgem has written to utility companies asking them to explain their billing

The energy regulator, Ofgem, has written to UK energy companies asking them to explain their billing procedures when a bill period covers two price tiers after a price rise. This follows mistakes made by EDF Energy announced this week.

British Gas price hikes start today

British Gas announced the hikes last month

Customers of energy supplier British Gas will see their energy bills rise by as much as 18 per cent from today.

UK retail sales see minor increase in July

Retail sales showed a minor increase in July

The Office for National Statistics (ONS) has published retail sales data for July which show growth of just 0.2 per cent in July as consumers continue to keep their money in their pockets.

TalkTalk and Tiscali UK fined £3m by regulators

TalkTalk and subsidiary Tiscali UK incorrectly billed 65,000 customers

Telecoms companies TalkTalk and Tiscali UK have been handed a £3 million fine by Ofcom after an investigation found they incorrectly billed 65,000 customers.

Cameron announces 13 new enterprise zones for England

David Cameron has announced that 13 new enterprise zones will be created across England

The Prime minister, David Cameron, has announced the creation of 13 new enterprise zones across the UK that will have low business rates, superfast broadband and less stringent planning laws in a bid to encourage economic growth.

Npower to raise fuel prices from October

Npower will increase their gas and electricity tariffs from October 1st

Npower have become the fifth of the six big energy companies operating in the UK market to raise their prices. The cost of gas will increase by 15.7 per cent and the cost of electricity is to go up by 7.2 per cent.

uSwitch warns EDF Energy rises could be next

EDF may be about raise prices, according to uSwitch

EDF Energy may be about to become the latest big six energy supplier to increase its prices, it has been suggested.

Inflation rises to 4.2 per cent

Today's inflation report means Mervyn King will have to write another letter to the Chancellor

The latest inflation report released by the Office for National Statistics (ONS) reveals that the consumer prices index (CPI) measure of inflation rose from 4.2 per cent to 4.4 per cent in July.

Supermarkets kick off petrol price war

Supermarkets are set to slash petrol prices

Several supermarkets have announced reductions in their pump prices after a fall in the cost of Brent crude.

Rail fares could jump by more than 8%

Train fares could rocket by more than eight per cent in January

Train charges could jump by more than eight per cent if July's retail price index inflation hits the expected level of five per cent.

Brits to miss out on £8.5bn in benefits, report says

Britons will miss out on £8.5 billion this year in unclaimed benefits, unbiased.co.uk has said

Families and individuals in the UK will give up a total of £8.5 billion in benefits by not claiming their full entitlement, a study has said.

Petrol industry defends prices despite fall in cost of oil

Petrol prices are dependent on other factors as well as the cost of oil, says the UK forecourt industry

The forecourt industry that run petroil stations in the UK has defended the price charged for petrol saying that currency valuations mean that the fall in the cost of oil cannot be passed onto motorists.