Following on from the post below, the banks have today been given an extra six months to contest the case brought against their unfair overdraft charges. This extends the period where all claims remain frozen, which has already been in place for a year, and means no refunds will appear for the foreseeable future.  The Financial [...]...

The Office of Fair Trading (OFT) has released a new report saying that personal banking in the UK is 'not working.' This comes in addition to the ongoing furore over bank charges and the underlying threat that if banks cannot impose such charges current accounts will no longer be free.  The report says that the £8bn industry [...]...

Three different sets of figures have been released this week each revealing a different aspect of the turbulence facing the economy. Figures released today have shown that inflation hit 3.8% in June, well above the Government's target of 2% and an increase from 3.3% in May.  The figures, which came in above forecasts for the third month [...]...

Government ministers have finally admitted what many people have feared for months, the planned road tax increases aimed at punishing drivers of the most polluting cars will leave 9.4 million road users paying more tax. Official estimates say vehicle excise duty will rise for 43% of vehicles made since 2001, by up to £245 for the [...]...

The most common definition of a recession is when the economy is in negative growth for two successive quarters. After the claims emerged the London Stock Exchange sank followed by global markets because of the concerns. The BCC also claimed that firms in the manufacturing and services sector were suffering as domestic sales and orders have [...]...