Archive for: August 2015


Financial Services Compensation Scheme Chief Director Mark Neale said PPI claims are likely to continue in the next few years. The FSCS, which currently handles tens of thousands of PPI complaints, is likely to increase its handle of complaints by 20% this year.

Claims for PPI compensation, continued to pour in between September and July, scuppering banks’ expectations the rate of grievances would abate considerably through the 2nd half. Lloyds, which was the first of the big four banks to report third quarter results on last Tuesday, had by far the largest share of the PPI market, has now allocated a total of £11.3bn for settlement. The sizeable new top-ups may revive calls to impose a deadline on PPI claims, which will call for a time limit on consumers to submit settlement claims.

PPI has greatly reduced the banking industry’s profits. The possibility of involvement the UK big four could have in the Libor and Euribor scandals greatly harms their public image and consumer confidence towards them could fall. People claiming a PPI refund back from Barclays may have lowered in number, but Barclays is not outplaying the possibility that one of their employees could possibly be involved in the Libor scandal.

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Thailand Government Blames Outside Forces Seeking To Destroy Its Tourist Economy

The target of the bomb was Erawan Shrine, a popular tourist destination in Thailand. At least 21 people were killed in the explosion and 120 were injured in the blast. About some of the casualties were foreigners, including a Chinese and Filipino citizen.

Locals described the scenario as chaotic with body parts scattered everywhere. Scooters and vehicles were set ablaze in what once was a busy intersection that brimmed with shoppers and tourists.

No group has claimed responsibility, but the Thai government blames outside forces threatening to destroy its Tourist Economy.

According to Defence Minister Prawit Wongsuwan

“The perpetrators intended to destroy the economy and tourism, because the incident occurred in the heart of the tourism district. We still don’t know for sure who did this and why.”

He later told reporters. “We are not sure if it is politically motivated, but they aim to harm our economy and we will hunt them down.”

Authorities verify that the bomb was an improvised explosive in the form of a three-kilogram pipe-bomb.

Police and the fire brigade had cordoned off the entire intersection with tape and human barriers. Four major roads and the above-ground metro rail were also closed.

Defeat Does Not Deter The Willpower of Chelsea

Chelsea captain John Terry expressed his agitation as Arsenal defeated Chelsea in the Community Shield. However, he said it will have minimal effect on their morale for the new Premier League season.

“I thought we were on top, if anything. These games are always a bit slow with players finding their feet and fitness but it’s disappointing we didn’t win,” the former England skipper told the media.

“Losing is just horrible in all aspects – forgetting the record [Mourinho’s unbeaten run against Arsenal], it’s a trophy that’s gone now. It means a lot because you’ve earned the right to be here so we’re just disappointed.

“It hurts. It doesn’t matter if it’s a friendly or the Community Shield – it’s a trophy, at the end of the day.”

Game Analysts claim part of Chelsea’s defeat is due to Diego Costa’s absence. Terry admits that Diego’s troubled hamstring played down Chelsea’s chances with the season opening game.

He stressed the defeat will not destroy Chelsea’s will to win in the Premier League.

“I don’t think so. I think it’s one of them where [Arsenal will] probably come out and say differently. They do mean something but, win or lose, I don’t think you can say that.”