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Virgin Media fined after hanging up on customers trying to cancel contracts
Posted onOfcom received complaints from 1,881 customers who reported difficulties cancelling. It added that some customers resorted to having to cancel their direct debits, which led to further difficulties such as missed payments impacting their credit score. Black said Ofcom had introduced “further safeguards to prevent this from happening again”, including its “One Touch Switch” process…
All Post Office Horizon victims entitled to free legal advice for first time
Posted onEmma SimpsonBusiness correspondent and Emer MoreauBusiness reporter PA Media All victims of the Post Office Horizon IT scandal who are claiming compensation will now be entitled to free legal advice to help them with their offers, the government has announced. The change could potentially have a major effect on the size of the payouts some…
Chancellor hints at tax and spend shift to cushion Budget
Posted onThe chancellor has given the clearest indication yet that she wants to give herself more financial breathing space in November’s Budget. Speaking at a gathering of business leaders in Saudi Arabia, Rachel Reeves said she wanted to ensure the UK had “sufficient headroom” to provide resilience against future shocks. The implication is that the £9.9bn…
US kicks off controversial financial rescue plan for Argentina
Posted onThe US has purchased Argentine pesos, taking the next step in a controversial effort to calm a currency crisis hitting the South American country and its president, Trump ally Javier Milei. Treasury Secretary Scott Bessent announced the purchase on social media, while saying the US had finalised terms of a planned $20bn (£15bn) financial rescue…
Jaguar Land Rover suppliers ‘face bankruptcy’ due to hack crisis
Posted onThe past two weeks have been dreadful for Jaguar Land Rover (JLR), and the crisis at the car maker shows no sign of coming to an end. A cyber attack, which first came to light on 1 September, forced the manufacturer to shut down its computer systems and close production lines worldwide. Its factories in…
