Millions more in cash needed to fund UK’s open-banking watchdog

Exclusive: £10m needed for regulator charged with developing tools to thwart financial crime and protect consumers

Banks are under pressure to stump up millions of pounds in interim funding for the organisation that polices open banking, with regulators saying the new money is needed to prevent financial crime and protect consumers if things “go wrong”.

Large banks including NatWest, HSBC, Lloyds and Santander UK were among more than 40 City firms summoned by the Financial Conduct Authority (FCA) last week to discuss a cash injection into Open Banking Limited (OPL), the body that oversees innovation in this area.

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Ofcom urged to investigate Virgin Media broadband contracts

Terms and conditions allow firm to raise bills at any time and by an unlimited amount, Which? claims

Virgin Media is facing calls for the telecoms watchdog to urgently investigate the legality of its broadband contracts, under which it can increase bills at any time and by unlimited amounts.

The consumer champion Which? has concluded that Virgin Media’s terms and conditions may amount to unfair contract terms and could be in breach of the Consumer Rights Act. It has written to Ofcom calling on it to intervene.

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Qantas and Virgin given little incentive to cheapen air fares, watchdog warns

ACCC warns airline industry is at ‘critical juncture’ with a developing duopoly stunting competition

Australian aviation is at a “critical juncture”, with policy shortcomings allowing for a duopoly marked by higher air fares and poorer service, the consumer watchdog warns, as it loses extra resources to scrutinise the sector.

Qantas Group – including budget carrier Jetstar – and Virgin Australia have carried 90% of domestic passengers over the past two decades, and as many as 94% in April this year, according to the Australian Competition and Consumer Commission’s quarterly domestic aviation monitoring report released on Monday, the final edition of the three-year task.

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Major tech firms face hefty fines under new digital consumer bill

Global companies like Google, Apple and Amazon could have to pay penalties of up to 10% of their global turnover as government gives competition watchdog more power

Major tech firms face the threat of multibillion-pound fines for breaching consumer protection rules under new legislation that will tackle issues including fake online reviews and subscriptions that are difficult to cancel.

The digital markets, competition and consumers bill will empower the UK’s competition watchdog to tackle the “excessive dominance” that a small number of tech firms hold over consumers and businesses.

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Blackmores subsidiary kept selling pregnancy vitamins despite hundreds of complaints, ex-employee alleges

Whistleblower says he was instructed to tell customers the products were safe to consume, despite lack of testing evidence

A subsidiary of the supplements company Blackmores left a pregnancy multivitamin on shelves for nearly a year despite hundreds of complaints that it was contaminated with mould-like black spots, a former staff member has alleged.

In a complaint to the Therapeutic Goods Administration, Peter Ellis alleged FIT-BioCeuticals brushed aside concerns about its products, including pregnancy vitamins and vitamin D drops being used by a children’s hospital, in potential breach of quality regulations.

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Fitbit recalls 1.7m Ionic smartwatches because of ‘burn hazard’

Reports of fitness watch’s lithium-ion battery overheating leads to warning from US safety commission

The fitness-tracking device maker Fitbit is recalling 1.7m of its Ionic smartwatches after reports of the battery overheating and burning some users.

The company, which was acquired by Google in 2021, had sold about 1m of the model in the US and nearly 700,000 internationally.

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How latest update to England’s travel red list will affect planned trips

Six southern African countries added to list and temporary flight ban in place owing to new Covid-19 variant

The UK government has added six countries to the travel red list after the emergence of a new coronavirus variant. As of midday on Friday, South Africa, Botswana, Lesotho, Eswatini, Zimbabwe and Namibia are subject to restrictions and a temporary flight ban. Non-UK and Irish residents who have been in any of those countries in the previous 10 days will be refused entry into England. And the move will have an impact on anyone who has a trip planned.

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Ryanair to shake up refunds policy after pandemic criticism

Airline, which even barred some people who sought redress, commits to refunds within five working days

Ryanair has promised to start refunding customers for cancelled flights within five working days, after criticism of its reimbursements policy during the pandemic.

The Dublin-based carrier, which has previously described itself as a “no-refunds airline”, has also announced significant improvements to the way it treats customers whose flights are delayed or cancelled.

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From Oslo pram guy to the teenage vacuum expert: inside the obsessive world of niche online reviewers

Wade can tell you the best pram for a tall parent; Matthew knows which cleaner has superior suction power. But how do you become a respected reviewer on the wild west of the internet?

Once a month, every month, more than 8,000 strangers pay James Hoffmann a total of £16,263 so he can go out and buy coffee machines. Hoffmann, 41, from London, is an author, business owner, coffee connoisseur and, above all, a YouTuber: more than 900,000 people subscribe to his channel, on which he discusses everything to do with beans and brewing. Around a third of Hoffmann’s videos are product reviews: grinders, espresso machines, storage canisters and filters have all been scrutinised by him.

Hoffmann’s monthly £16,000 comes from Patreon, a membership platform that allows fans to pay creators a regular fee. The money is intended to keep him impartial: it enables him to buy machines to review directly – just like you or me – instead of getting them on loan from brands.

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I’d like to make a complaint… Why some of us are so good at making a fuss

Were you the child whose indignant letter yielded a free bar of chocolate? Séamas O’Reilly puts pen to paper to reveal why we are a nation of complainers

The biscuit was only barely covered. If I’d had to guess, I’d have said 30% of its surface had chocolate applied, and that’s being charitable. Certainly more charitable than the manufacturer of the Jaffa Cake in question, who I pictured as God’s perfect miser; a Scrooge-like figure toiling in a candle-lit factory, peering over their bifocals to smear homeopathic levels of chocolate on one sorry corner of my favourite tea snack. I was 10 years old, and had never had a particularly strong sense of myself as a consumer champion, but this biscuit, this disgrace, roused something inside me.

“Dear McVitie’s,” I wrote, addressing the entire company in my missive. “I was shocked and appalled to discover this Jaffa Cake (enclosed) in such a state.” In hindsight, I was savvy enough to moderate my speech to sound adult, but not perhaps worldly enough to consider enclosing the foodstuff itself in plastic before popping it in with my letter. By the time I posted it the following day, I remember already noticing some of its soft greasiness had permeated the envelope, but I reckoned this was probably just the way things were done. Evidently it was, as two weeks later I received a letter apologising for my suboptimal experience, along with an invitation to tour a factory, and two whole boxes of Jaffa Cakes. These, I am happy to report, were perfectly chocolated.

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Lockdown refunds: why are Ryanair and BA being investigated?

Airlines may have broken law by refusing refunds for flights customers could not legally take

British Airways and Ryanair are being officially investigated over whether they treated customers unfairly during the pandemic by failing to offer them flight refunds.

The Competition and Markets Authority (CMA) said it was looking to see if the two airlines had broken consumer law, and indicated it was on the side of consumers on this issue. It has opened enforcement cases into both companies.

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What should I do if I have a holiday booked to France? Q&A

As France is taken off the government’s travel corridor list and new quarantine rules come into play, should UK holidaymakers cancel trips?

The UK government has removed France from its list of travel corridors, leaving hundreds of thousands of holidaymakers scrambling to rearrange their travel plans. A 14-day quarantine on return to the UK from France will come into effect from 4am on Saturday (15 August), leaving a window of little more than 30 hours for travellers to get home if they want to escape the measures.

The UK criteria for removing a country from the list is based on per capita case numbers. If these go above 20 per 100,000, the UK government categorises that country as high-risk. This Wednesday France reached 30.4, according to the European Centre for Disease Prevention and Control, with significant numbers in recent days: 2,524 new cases were reported on Wednesday, up from 1,397 on Tuesday, and over 2,000 a day last weekend.

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Australian car buyers launch class action against Westpac over alleged secret dealer commissions

Hundreds of thousands of buyers allegedly paid as much as three times the normal bank interest rate when arranging finance through a car dealer

Law firm Maurice Blackburn has launched a class action lawsuit against Westpac on behalf of hundreds of thousands of car buyers who were sold vehicle loans under a deal that allegedly allowed dealers to secretly pocket vast commission payments.

Dealers were able to maximise commissions Westpac and its subsidiary, St George, paid them for selling the loans by charging some customers as much as three times the bank’s going interest rate, it is claimed.

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Alone and disconnected: the woman left unable to call her dying partner

Problems with internet and phone service were once just an inconvenience. Now they can prove to be catastrophic

Cut off by telecoms company, pensioner missed call as partner died of Covid-19

Barbara Parry* arranged to switch her phone and broadband account from Sky to Now TV in March, a week before lockdown. Instead, she was left incommunicado as her line was cancelled and her phone number reallocated.

During the following four weeks, as she pleaded in vain to be reconnected, her partner contracted Covid-19. He died four days later in hospital. Due to the blunders by Now TV, he was unable to call Parry from his deathbed and she was unable to say goodbye. The news was broken by a relative as the hospital could not get through on her cancelled number.

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By air or sea, your untouched mobile can automatically rack up a £1,000-plus bill

Even if travellers’ phones are in baggage and not used, they can link to a satellite network on premium rates

Gay Haines had stowed her mobile phone in her hand baggage before her flight to Barbados and forgot to set it to flight mode. The mistake cost her dear. On arrival, she discovered that she had racked up charges of £1,095, twice the price of the transatlantic fare. “I had not used it to make or receive calls and when I opened it after landing there was no mention of any charges,” she says.

Haines is one of dozens of air and sea passengers who have received shock bills after their phones connected automatically to a satellite roaming network. While EU rules cap roaming fees outside Europe at €50, the legislation does not apply to satellite networks on planes and boats, which charge premium rates for data, wanted or not, unless customers actively switch off data roaming.

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