Daily Mail research has suggested that customers wishing to activate their credit cards with their banks are being passed on to insurance companies such as CPP, which encourage customers to take out a card protection policy. According to the newspaper, the insurer does not offer to cover fraud losses, but will instead pay up to £60,000 to cover any 'legal and communication costs'. Figures show that only 0.5% of CPP customers claim on their identity theft policy.
Asda has warned of a deterioration in consumer confidence since the start of 2011, which it believes will worsen as further austerity measures take effect. Its chief executive, Andy Clarke, said that many consumers are anxious about rising fuel and food rates at a time when they are seeing less money in their pockets and job insecurity within the public sector.
The Guardian has revealed that HSBC's chief executive, Stuart Gulliver, is employed by the bank through its main holding company, the Netherlands-based HSBC Asia Holdings, which employs 443 of the bank's staff and is designed to manage their benefits regardless of where they are placed to work. The newspaper also reveals that the new head, whose principal address is in Hong Kong, is on a £1.25m salary and is entitled to an additional 50% as a pension contribution. He also expects to pay income taxes in both Hong Kong and Britain
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