My pick of last week’s news is the bid for Provident – and respect to the Times sub who came up with the headline Provident doorstepped by surprise £1.3bn offer. It’s nice to have some good news with ending charging for DMHEFs moving a step closer: The BMA agrees to #StopTheCharge
Tweet of the week
Disabled mum who killed herself failed by benefits agency https://t.co/SFXWJWmpo2
— BBC News (UK) (@BBCNews) February 23, 2019
Provident take-over bid:
- Provident Financial gets £1.3bn bid from rival NSF BBC: The group said it had seen a rise in bad debts at its Vanquis Bank arm and falling numbers of new accounts after clamping down on its lending.
- Provident doorstepped by surprise £1.3bn offer Times (£ paywall) The deal is expected to lead to the sacking of Provident’s board and would see John van Kuffeler, NSF’s chief executive, back in charge of the business he ran for 22 years until 2013.
The BMA agrees to #StopTheCharge MMPHI: The commitment we secured from the Prime Minister in 2017 was a huge achievement, but it was far from the finish line. We’re now in touching distance of the end, but we’ll keep going until this charge has stopped once and for all.
Banks’ final PPI bill to hit £44 BILLION… and that won’t be the end of the payouts as whistleblowers line up to expose new scandals Mail: Lloyds has set aside an additional £151 million due to the poor treatment of customers who fell into arrears on their mortgages.
‘I’m 29 and I’m in £60k of credit card debt…’ BBC: Liam began to spiral into debt after taking on an unpaid internship.
How up to 140,000 British homeowners were hit after Sajid Javid axed plans to help mortgage prisoners Mail: plans were almost finalised in 2013 to help thousands of so-called mortgage prisoners. But at the last minute, Sajid Javid, now Home Secretary but then economic secretary to the Treasury, torpedoed proposed regulation that could have saved them thousands of pounds each.
Borrowers face early-repayment charges on half of all personal loans Which? depending on the policy of the company you take the loan with, you could be charged the equivalent to one or two month’s interest.
Another ‘buy now, pay later’ firm to launch in Britain with a major retailer – can Laybuy make as much of a splash as Klarna? Mail: shoppers get the item up front and then pay it off in six instalments, one of which is taken at the time of the item’s purchase, while the rest are taken automatically in subsequent weeks.
Parking firms buy data of 7m drivers Times (£ paywall) a 20% increase on the previous 12 months.
Benefits & other news
DWP arranges a ‘work coach’ for man dying of cancer Mirror: The letter from the Department of Work and Pensions (DWP) told Thomas Glen the coach could help him “think about the type of work he can do in the future”.
Universal Credit taper rate left me so broke I rely on her friend’s leftover party food to feed my seven-year-old daughter Sun: Single mum Roxy Thobald, 26, works 20 hours a week as a self-employed courier driver, but is struggling to survive due to Universal Credit’s taper rate.
- Problem gamblers are using PayPal to spend up to £150,000 a day Guardian: Addiction experts say time lag is being exploited to circumvent bank limits.
- Ladbrokes gagged gambling addict who stole £1.8m Times (£ paywall) The gambler said a Ladbrokes VIP manager told him how to use a virtual private network (VPN) to bypass the UAE’s internet restrictions on gambling. He was even offered a free iPad with a VPN already set up on it.