Soaring energy costs have dominated this week’s finance news. The increase in the energy price cap kicked in, but experts are already warning about future hikes. However, the housing market offers some positive news for homeowners and those with rental properties. The news cycle is still focused on the ramifications of soaring energy prices. Last month’s fuel crisis is also creating ripple effects, and rising living costs could even impact the positive news surrounding the state pension increase. Here’s a look at the biggest stories of this week’s finance news.
Following an FCA review of the practices of debt packager firms, 5 firms have stopped providing regulated debt advice until further notice and the FCA has used formal powers to stop another firm from providing regulated advice.
Power of attorney can be a helpful tool in later life if you struggle to manage your finances or other aspects of your life. While the current legal process for enacting power of attorney can be long-winded and frustrating, plans have been put forward to modernise the system.
It has been announced that Barclays has suspended all debit and credit card payments to the crypto-trading platform, Binance. The suspension came into play at the start of this week, with the banking giant citing a notice from the UK’s financial regulator, the Financial Conduct Authority.
To enhance consumer protection in the funeral plans market, the FCA has confirmed the rules funeral plan providers will have to follow when they come under regulation from 29 July 2022.
What do you look out for before making a purchase? Do brand values matter to you? Do you even know what “brand values” are what it means?! According to new research, nearly three-quarters of us actively consider brand values before we buy. Where do you stand on this?
A leading consumer rights group has revealed that fake delivery scams have soared over the past year, with scammers said to have been operating on an ‘industrial scale’ during the pandemic. According to Which?, over 60% of Brits have received a fake delivery scam text in the past 12 months.
This week’s finance news brought more information about the controversial suspension of the pensions triple lock, as well as the confirmation of a national insurance hike. Also, read the latest on potential interest rate hikes, increases from the big six energy giants, and much more.