Week ending 30th September 2011
Welcome to Worldwide Financial Planning’s’ weekly news round up for the week ending the 30th September 2011. This was the week of the Labour Party conference in Liverpool and another week of volatile markets.
• Labour pledges overhaul of consumer rights
The Shadow Business Secretary, John Denham, pledged an overhaul of consumer rights protection at this year’s Labour Party conference in Liverpool.
Source: Guardian
• Supermarkets crackdown on voucher misuse
Following several prosecutions for fraud and misuse of vouchers and coupons from supermarkets, consumers are being warned that they may face prosecution if the terms and conditions of vouchers, such as Tesco Clubcard vouchers are abused.
Source: This is Money
• 3000 jobs lost at BAE
BAE Systems confirmed on Tuesday that 3,000 jobs will be cut across the UK, with the majority being at the company’s sites in Lancashire and East Yorkshire.
Source: This is Money
• Fall in households’ disposable income
According to supermarket ASDA’s monthly Income Tracker, households suffered the largest drop in disposable income since they began keeping records, with a fall of 7.9% since this last time last year.
Source: Guardian
• Barclays top of the list for complaints
Barclays came at the top of the list for complaints, according to FSA figures released today for the first half of 2011. More than a quarter of a million complaints were made against Barclays bank.
Source: Guardian
• Traders predict economic ‘meltdown’
In a poll of international traders conducted by Bloomberg, two thirds of those questioned said that they thought the international economy was getting worse. 30% predicted a global economic ‘meltdown’.
Source: Economic Voice
• House prices in the UK ‘treading water’
Nationwide building society concluded in its house price index for September that prices had risen by just 0.1% over the month.
Source: IFA Online
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