Gold price collapse hits pawnbroker profits

Shares in largest British high street gold buyer H&T slide as it warns that every 10% fall in the price of gold would wipe about £2m off its profitsBritain’s biggest pawnbroker on Friday warned the collapse in the gold price will knock its profits.H&T, the largest British high street gold buyer, warned that every 10% […]
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Bumper SSE results expected to provoke consumer outrage

Scottish & Southern Energy predicted to announce profits of up to £1.4bn at a time when many are struggling to pay their billsAccusations that the big energy firms are profiteering at the expense of UK households will be centre stage again on Wednesday if Scottish & Southern Energy, as expected, reveals bumper profits for a […]
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Ocado tie-up to help Morrisons start selling groceries online

Morrisons to begin home deliveries next year after deal that could cause problems between Ocado and WaitroseMorrisons supermarket has confirmed a 25-year tie-up with Ocado, sending the online grocer’s shares soaring by 25% and potentially enraging its former exclusive partner Waitrose.Morrisons will use Ocado’s technology and distribution network but retain its own branding for online […]
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Should we quit our failing endowment policy?

Q My husband and I took out an endowment plan 17 years ago to cover a £70,000 interest-only mortgage, into which we have been paying £119 a month. We are selling our house so thought that as we had received repeated warnings that the endowment wouldn’t reach the projected amount, rather than carry it forward […]
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SSE faces Ofgem’s largest fine ever of £10.5m fine for mis-selling

Energy supplier used ‘misleading scripts’ and failed to give ‘accurate estimates and comparisons to customers’The activities of large energy suppliers were under the spotlight again on Friday when Ofgem, the industry regulator, confirmed that it would levy a £10.5m fine on SSE for mis-selling.The penalty, the largest the watchdog has imposed, was levied for numerous […]
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Interest-only customers warned against claims management companies

Mortgage industry braced as claims management firms raise prospect of mis-sold interest-only mortgagesHomeowners who have interest-only mortgages are being warned to steer clear of companies offering to help them make claims for mis-selling against their lender or broker.Claims management companies, many of which have previously concentrated their efforts on the PPI mis-selling scandal, have been […]
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MPs grill big six energy suppliers over tax contributions

Outrage over findings that RWE npower and others have paid little or no corporation tax despite significant profitsMembers of the big six group of energy suppliers are paying very low or even no corporation tax despite reaping significant profits from high domestic bills, new research shows, prompting outrage from MPs and calls for reform of […]
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Millions set to switch accounts as study finds banks at fault

Which? research reveals a flood of frustrated customers ready to take advantage of shakeup in current account marketRecord numbers of people are expected to ditch their bank in the coming year as mis-selling, poor customer service and a faster switching service persuade them to make the move. More than a quarter have had a problem […]
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