Monthly Archives:November 2016

Sky follows BT and Virgin into the mobile phone market with data-only SIM deals starting from £10 a month

30 Nov 16
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  • The London-based telecommunications giant will launch services in 2017
  • Prices are set to start at £10 a month for 1GB of data only 
  • Sky TV customers will also get free calls and texts at no extra cost
  • Plusnet has also launched mobile phone services 

Sky will launch a mobile phone service in the New Year to follow fierce rivals BT and Virgin into the market, it announced today.

The London-based telecommunications giant will launch SIM-only deals appealing to tech-savvy customers, with data provided instead of calls and texts.

Prices are set to start at £10 a month for 1GB of data, rising to £15 for 3GB. Heavy internet users can opt for 5GB at £20 a month.


Data-only plans: Sky has announced that it will enter the UK mobile market in the New Year, as it follows its rivals BT and Virgin into the market

Sky TV customers – who are now able to register for the mobile service – will also get free unlimited calls and texts included in their plan for no extra cost.

Non-Sky TV customers can either choose to pay an additional £10 a month for unlimited texts and minutes or have a Pay As You Use tariff, paying 10p a text and 10p a minute.

These plans will appeal to customers who prefer to use WhatsApp and wi-fi calling over texts and phone calls.  

Ewan Taylor-Gibson, telecoms expert at comparison site uSwitch.com, said the offering was ‘competitive’ but favoured to those already using Sky TV.

He added: ‘Sky’s Sim-only set-up is distinctly comparable to giffgaff’s. Both piggyback off O2’s network and both allow customers to dial their plans up or down depending on their usage. 

‘Mobile users love that kind of flexibility – it shouldn’t be underestimated as a perk.

‘The key differences between the two are that Sky ties you in for 12 months, while giffgaff users can cancel any time, and giffgaff also offers unlimited everything for £20 a month, beating Sky’s top package which delivers 5GB.’ 


Done deal: Sky TV customers – who are now able to register for the long-awaited mobile service – will also get free unlimited calls and texts included in their plan for no extra cost

Sky is the last of Britain’s big four broadband providers to offer mobile to its customers, giving it the full ‘quad play’ offer, which also includes TV and fixed-line telecoms.

Stephen van Rooyen, Sky’s UK and Ireland chief executive, said the company had asked more than 30,000 potential customers what they wanted from a mobile service, and more flexibility on data was top of the list.

He added: ‘We’ve designed it based on what people told us they want – it’s easy, flexible and transparent and it puts the customer in control.’


Tech-savvy generation: The Sky data plans will will no doubt appeal to customers who prefer to use WhatsApp and Wi-Fi calling over texts and phone calls

He declined to give any targets for customer sign-ups, but said Sky households had on average two mobile contracts each, giving a potential market of about 23million.

BT bought EE, the biggest mobile network, earlier this year, while Virgin Media uses EE’s network to offer its own branded mobile and TalkTalk is switching from Vodafone to Telefonica’s O2.

Sky is also piggybacking on the O2 network, although it will issue its own SIM cards and handle all parts of the customer relationship.

Mobile customers will not receive a combined bill for all Sky services, however, as the company said customers preferred to keep an individual relationship with their mobile provider. 

More than 46,000 people had already registered, the company said, adding it would launch a full marketing campaign in the New Year and offer handsets from next spring.

Analysts at Morgan Stanley have said entering mobile should be a positive for Sky.

It said: ‘Sky’s got most of the infrastructure in place, is good at cross selling, it’s a £15billion market and Sky doesn’t need to get involved in handset subsidies.’

Another internet provider, Plusnet, launched its own mobile phone service yesterday, including a top end package with 4GB of data per month and unlimited calls and texts for £15. It is piggybacking on EE’s network. 

 






Courtesy: Daily Mail Online

AG suggests Ontario not using technicians to process over sloppy roadwork, flow development

30 Nov 16
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Ontario people are receiving hosed by technicians who lead highways with inadequate-quality road and produce standard problems on simple flow development jobs, the province’s Auditor General has uncovered.

Not surprisingly sloppy work, the federal government typically gives the technicians anyhow and, most of the time, offers them extra deals.

Auditor general Bonnie Lysyk’s yearly survey Friday found a decades-extended sample of development organizations doing badly with several outcomes.

Because of this of the problems, she identified, Ontarians have settled thousands added to correct inadequate development.

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Among her conclusions:

  • Highways that have been likely to last 15 years started exhibiting chips after just one single to 36 months as a result of sloppy road.
  • The federal government gives bonuses to paving organizations for employing higher-quality road, nevertheless the organizations have robbed these checks by giving higher-quality trials compared to the asphalt they truly applied to the highways.
  • One business created element of a walking bridge in the Pickering GET place upsidedown, but provincial transportation organization Metrolinx nonetheless settled the business for the function and provided it another deal to put in a glass address on the connection.
  • An engineer chosen from the builder that developed the Nipigon connection around the Transcanada road qualified that it had been up-to specifications, although a number of the material inside the connection was 30% weaker than essential. The connection failed last Jan, only six days after it had been exposed to traffic, quickly turning down all crosscountry road traffic.
  • One builder used reduce-quality cement to get a MOVE program and occasionally did not arrive for function, but nevertheless acquired 22 more deals for different jobs.
  • Train companies CN and CP respectively demand Metrolinx 74-percent and 30-percent a lot more than market specifications for work accomplished on train corridors employed by MOVE trains. Despite spending these payments, Ms. Lysyk identified, CN applied recycled rails rather than fresh versions over a Metrolinx undertaking and occasionally employed Metrolinx’s income to fund improvements to CN paths that MOVE trains don’t use.

“The not enough an activity to put up development companies liable plays a part in jobs being accomplished late, distractions individuals, and contributes additional prices for Metrolinx and people,” Ms. Lysyk mentioned in a record.

Around the weak-quality road, she included: “Premature chips in sidewalk have considerably improved the Ministry’s road-fix charges. The Ministry of Travel has to become more practical to guarantee the proper content is employed to ensure that function is completed correctly the initial time.”

Ms. Lysyk discovered that the federal government repeatedly did not keep technicians to bill if they presented sloppy work.

In 2007, as an example, the state produced a check to make certain road is of substantial enough quality to last 15 years. Nonetheless, the federal government provided into lobbying from your road market never to apply the examination. Seven years later, Ms. Lysyk identified, the examination is applied to a small number of jobs.

The federal government also consented to many actions good for highway development organizations, including enabling the companies to wait paying fees, enabling companies that repeatedly prosecute the ministry to keep bidding for brand new deals and enabling technicians to cover their particular designers to approve jobs.

In accordance with Ms. Lysyk’s record, the federal government discussed its Kidglove treatment of scofflaw technicians by declaring it wants to perform “collaboratively” with all the highway-building market instead of managing the firms as standard vendors.

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GB Energy’s website says: ‘Due to swift and significant increases in energy prices over recent months and as a small supplier, our inability to forward buy energy to allow us to access the best possible wholesale prices means the position of the business has become untenable.’

With experts warning a ‘handful’ of other firms could fail this winter, householders may be tempted to ditch small suppliers. But that could be a huge mistake.

Four weeks ago, energy regulator Ofgem introduced a safety net to protect credit on customers’ accounts if a firm goes bust. 

But a catch buried in its rules means anyone who asks to leave an energy firm — whether before or after it goes out of business — is excluded.


Safer: Unlike the Big Six energy giants — British Gas, nPower, Eon, Scottish Power, SSE and EDF — these small firms don’t have big pots of cash to fall back on when wholesale prices rise

Customers who sit tight will have better protection, but they must give an up-to-date meter reading as soon as possible, so you don’t lose any credit you’ve built up.

That’s because if their firm does go bust, any refund will be calculated on the last available figure for energy usage.

Anyone thinking of switching to a cheaper energy tariff may want to stick with the Big Six this winter or at least larger firms such as Ovo or First Utility.

They will be missing out on only £34 a year — the difference between the top deals from small suppliers and the Big Six.

‘GB Energy is likely to be the first of many small energy firms to go bust this winter. I wouldn’t be surprised to see a handful more go under,’ says Mark Todd, director of the price comparison website Energyhelpline.

‘Small suppliers that locked thousands of customers into cheap fixed deals when wholesale prices were low and didn’t buy the power in advance to supply these households — which is unlikely as that would be hugely expensive — may soon be facing disaster.’

You will not be cut off if your energy provider goes bust because Ofgem will step in to ensure no household is left without power.

Under supplier of last resort rules, the regulator chooses another firm — typically one of the bigger suppliers — to take over accounts.

Ofgem chose to protect customers’ balances as well because more than half of households pay by monthly direct debit.

This means instead of billing you quarterly for the gas and electricity you use, suppliers estimate how much power you’ll use over the course of the year and split this into 12 equal payments.

Over the summer, you build up a surplus because the heating is off. This covers higher bills in winter, but also means energy firms are sitting on piles of your cash. According to Energyhelpline, this can be as much as £400.

Many small suppliers also bill you in advance, which means you are almost always in credit.

In fact, GB Energy customers are owed £24 million in credit, it emerged this week.

Under Ofgem’s new rules, cash will be refunded by the supplier that takes over your account, but this is guaranteed only if you’re classed as an existing customer.

If you’ve asked to switch to a new supplier, Ofgem deems you to be a former customer, so you may never get a refund or be forced to wrangle over getting your cash back. 

In the case of GB Energy, Co-operative Energy and Ofgem have agreed to cover the cost of current and former customers.

However, in other cases, you may have to wait months for the firm to be wound up. You can demand an immediate refund of your credit if you stay put, but that may increase pressure on the firm’s balance sheet. It’s better to update your usage figures.


Pledge: You will not be cut off if your energy provider goes bust because Ofgem will step in to ensure no household is left without power

If your firm goes out of business, the supplier that takes over your account will use the most up-to-date information on your file to work out your refund.

So, if you haven’t given a meter reading for months, you’re likely to be short-changed.

Ofgem is urging GB Energy customers to take a meter reading immediately and keep a note of it in case of problems.

Comparison websites have been inundated with hundreds of calls from GB Energy customers since Saturday, with many looking to switch away.

Energyhelpline saw a ten-fold increase in GB Energy customers trying to leave.

Typically, if your energy firm has gone bust, it takes between two and 14 days to choose a new supplier for you, at which point your gas and electricity accounts will move over.

Households are likely to be dumped on a new firm’s standard tariff, which is usually their most expensive.

In this case, Co-operative Energy has pledged to honour the price customers were paying previously.

Of the 43 energy firms in Britain, 31 are small suppliers launched in the past few years.

They have become popular because they offer cheaper deals than the Big Six.

Npower’s Online Price Fix December 2017 deal costs an average £897 a year — £34 a year more expensive than the cheapest tariff from Places For People Energy’s one-year fixed Together tariff at £863 a year.

Joe Malinowski, founder of comparison site The Energy Shop, says: ‘Stay clear of suppliers that take payments in advance.

‘Many larger suppliers offer competitive tariffs, so if you choose a new firm, make sure any savings are worth the risk.’

v.bischoff@dailymail.co.uk

 






Courtesy: Daily Mail Online

Ottawa not monitoring success of $1.1-thousand U.S. boundary program, auditor says

29 Nov 16
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The $1.1-thousand Beyond the Boundary Action Program has put RCMP representatives on U.S. Coast Guard boats, fitted fresh verification gadgets at airports and introduced considerable data-expressing plans between Europe as well as the Usa – nevertheless the national Auditor General suggests Ottawa does not have any idea whether any one of it’s produced a variation.

In his newest record to Parliament, Auditor General Michael Ferguson weighs in about what has instantly develop into a key supply of panic in Europe: their state of its boundary with all the Usa.

Presidentelect Donald Trump has assured to negotiate if not refuse the Us freetrade arrangement, crack-down on illegal immigration and explained he’ll follow an “America First” monetary goal, which several assume can add a fresh concentrate on protectionism.

“This exam is very important as the Europe-U.S. border is critical to your economy and life style,” the Auditor-General’s record claims, going out that in 2015, close-to $700-thousand in items flowed throughout the boundary.

Tuesday’s review report carries a phase dedicated to the Beyond the Boundary Action Program, that has been declared in November, 2011, at the same time-prime minister Stephen Harper and U.S. President Obama. It’s also referred to as the Edge Safety and Economic Competitiveness Action Plan.

Mr. Ferguson’s total finding is the fact that the nine Canadian government sectors associated with offering the master plan have typically accomplished the thing that was assured but have did not evaluate whether every one of the spending has made increased leads to conditions of safety or business. The survey chastises Ottawa for offering “an unfinished and erroneous photo of development and costs.”

The many areas of the Beyond the Boundary program soon add up to $1.1-thousand in assured paying between 2012-13 and 2017-18, that $585-trillion was used at the time of March, 2016, in accordance with Tuesday’s record.

Whilst the exam record doesn’t note the outcome with this year’s U.S. selection, its conclusions can assist as being a helpful set of the countless uncertain line problems that stay involving the two places because the Trump supervision makes for the Jan. 20, 2017, inauguration.

As an example, a fresh system supposed to emphasize prospective individual dangers before a worldwide journey will be taking off has experienced many setbacks. The Active Advance Passenger Data motivation is supposed to own airlines inform the Canada Border Services Organization each time a journey destined for Europe features a safety hazard onboard.

Nonetheless it’s been detained for U.S. routes as a result of concerns linked to a Europe-U.S. memorandum, plus a related system for American routes is onhold as a result of legitimate obstacle ahead of the Judge of Justice of Europe.

“Until these concerns are fixed, airlines can proceed to offer individual info for the Organization when routes depart as opposed to before they leave,” the review report claims.

Another undertaking experiencing setbacks can be an data-expressing energy between Europe as well as the U.S. that files terrain or oxygen access in a single region such that it can become an leave document from your different. Up to now, $53-trillion of the program’s $121-trillion budget continues to be used.

One of many good reasons for the wait, in line with the record, is the fact that the government has made a decision to broaden the sharing of travellers’ access and leave data with different sections and organizations, like the Canada Revenue Company, Job and Social Development Canada as well as the RCMP.

“This selection has increased many privacy worries which have yet to become resolved,” the record claims.

On-trade, one of many many highprofile claims of the Beyond the Boundary program was a 2015 “pre-clearance” arrangement that could enable items to become examined far from the boundary in a attempt to help relieve congestion.

Though the Auditor-General’s Office mentioned it identified government assessment of the style “had combined results” and additional checks are designed.

Public Safety Europe, the Canada Border Services Organization, the RCMP and Move Canada all mentioned they arranged with all the report’s conclusions and guidelines. Each of them pledged to-do an improved career of reporting around the effectiveness of the Beyond the Boundary actions.

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Ofgem’s senior partner for consumers and competition Rachael Fletcher, also assured customers ‘your energy supplies are safe.’

It is directing customers toward information on its safety net.

She added the regulator was working to move customers to a new supplier as smoothly as possible. 

WHAT SHOULD GB ENERGY CUSTOMERS DO? 

Those who have switched to GB Energy have been advised not to worry, as Ofgem safeguards should mean there is no threat to their supply or any credit balances. 

They should take a meter reading and should then be moved to a new provider by Ofgem, as part of its safety net arrangement.

However, they should also avoid switching away from the provider while the process is ongoing, in case this cases them problems.

Ofgem’s ‘supplier of last resort’ scheme means you are guaranteed to still receive your energy supply if something happens to the firm.

Any money in your energy account is also safe as it will be refunded to you by the new supplier. If the new firm wasn’t able to pay, which Ofgem says would be extremely rare, it would be able to place a levy on its customer bills (which would be less than £1 per customer) in order to create the extra funds.

This is Ofgem’s advice for customers.

Will my supply be cut off?

No. We’ll move you to a new supplier. Your energy supply won’t be cut off or even disrupted. In fact, you won’t notice any change.

Our advice is to take a meter reading and not to do anything until we have appointed a new supplier and they have been in touch with you.

Who will choose my new supplier?

Ofgem chooses the new supplier.

Will I be on a different contract with my new supplier?

Yes. Your old tariff will end.

Instead, your new supplier will put you onto a special ‘deemed’ contract (this means a contract you haven’t chosen) with your new supplier. This contract will last for as long as you want it to.

Will my bills go up?

It’s likely, as ‘deemed’ contracts are usually more expensive.

Our advice is not to switch immediately, but wait until your new supplier has got in touch with you. They will be able to tell you what to do about any credit balances you might have had with your old supplier.

Once you have been contacted by your new supplier you should ask them to put you on their cheapest deal or shop around for a cheaper supplier. You won’t be charged exit fees.

Will more suppliers collapse?

There has been a rush of small energy companies set up in recent years, with about 40 firms currently vying for households’ business.

Now, with energy prices having risen substantially on the wholesale markets, there could potentially be more casualties in Britain’s hotly-contested market. 

Many of the new firms that have sprung up in recent years did so at a time of less pressure on energy prices. A characteristic of many is that customers have been signed up to fixed rate tariffs, while the companies themselves are buying gas and electricity on a daily basis on the energy markets.

Wholesale energy costs have leapt this year. Gas is up 35 per cent and electricity up 40 per cent, leaving any start-up energy firms that only have limited financial buffers facing tough times.

Collapse in the energy market has previously been extremely rare – Ofgem told us recently that there was only one account of it happening in 2008 with a business energy firm called Energy4Business.

Emma Bush, an energy expert at comparison site uSwitch.com, said: ‘GB Energy Supply is the first domestic energy supplier to go out of business in a decade, but rising wholesale prices this year are making for some tough market conditions for new, independent suppliers in particular.

‘Many of them have recently increased bills – including GB Energy Supply, which hiked prices by almost a third only last month.

‘While GB Energy Supply’s 160,000 customers will be concerned to hear today’s news, safeguards put in place by Ofgem mean there will be no interruption to their energy supply and any credit balances will be protected.

‘We urge Ofgem to now ensure GB Energy Supply’s customers get a fair deal with a new provider as quickly as possible.’

CAN YOU CUT YOUR BILLS?

Energy firms are constantly battling to pinch customers from each other.

Shrewd consumers can take advantage of this by reviewing deals every year to ensure they are on the cheapest deal. Even moving every other year will save you significant amounts.

You only need to be interested in the tariff that is going to be cheapest where you live, so do your own postcode comparison in minutes using the tool above – or here – to find the best price. 

There has been a big rise in small energy firms and it is up to you to decide whether you are happy to go with a supplier you have never heard of, or one of the bigger names you recognise.

To find out how you are protected, read Ofgem’s guide here.  

 





Courtesy: Daily Mail Online

Trudeau criticized for laudatory record on Fidel Castro’s death

27 Nov 16
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Prime Minister Justin Trudeau, whose daddy was a better admirer of Fidel Castro, acknowledged the Cuban master being a “larger than-life leader” but produced no mention of horrific humanrights violations beneath the Communist regime.

Mr. Trudeau was generally panned on social-media around the globe and by weight pundits in the home to get a record released Sunday where he praised Mr. Castro being a “legendary progressive and orator” and stated the Cuban people experienced a “deep and long-term affection” for your master who killed and caught hundreds.

So if you’re preparing to cash-in on the deals available and want to avoid getting ripped off, it’s important you are aware of your consumer rights and can see through the headline prices to make sure you’re not spending more than you need to.

If you’re planning to grab a bargain, here’s our guide to finding a good deal without going bankrupt.

1. Know your consumer rights

Some shops will only accept returns on sale goods if the item is faulty, not if you just changed your mind, so always check the terms and conditions before you buy.

When buying online you’ll have 14 days as standard to return something, while in store it’s 28, although some retailers have extended this. 


We’re expected to spend £6.77bn online between Black Friday and Cyber Monday

If you need a repair, replacement or refund you can do so if the item was bought within 30 days. If it was bought within six months, you are entitled to get it repaired or replaced once. If it’s more than six months old you can get a repair or replacement but a refund will reflect the current price, not the price you paid for it.

2. Watch out for dodgy electrical gifts 

Before you hand your money over on that new washing machine or microwave, if it’s faulty you’ll not only lose out financially, it could potentially be very dangerous.

The charity Electrical Safety First (which has a full guide on how to spot fake products) says nine million of us have bought fake electrical products before. It warns that if the price is below the recommended retail value then there’s a risk it could be fake. 

Before you buy also check the product reviews and make sure you know where the supplier is based as it says many fake goods are manufactured overseas, where they aren’t safety tested.

If you suspect a product is fake or dangerous, get in contact with your local trading standards office or Citizens Advice.

10 OF THE BEST-VALUE BLACK FRIDAY BARGAINS

If you are going to part with your cash today, here are 10 of the best bargains we’ve spotted, if you see better deals let us know in the comments section below. 

1. Kitchen Aid 150 stand mixer, was £449, now £299, save: £150 (John Lewis)

2. Microsoft Surface Pro 4 12.3-Inch Tablet with keyboard, was £799.99, now £549.99, save £200 (Amazon)

3. Samsung UK40KU6020 HDR 4K Ultra Smart TV 40″, was £599.95, now £349, save £250 (John Lewis) 

4. Le Creuset kitchenware, 40 per cent discount (John Lewis)

5. Amazon Fire tablet, was £49.99, now £29.99, save £20 (Amazon)

6. Garmin Sat Nav travel edition, now £79, was £159, save £80 (Tesco Direct)

7. Braun Series 5 5040 wet & dry shaver, was £199.99, now £89.99, save £110 (Amazon)

8. No7 Party Bundle, worth £186.90, now £60, save £126.90 (Boots)

9. Acer Laptop 15.6″ Windows 4GB/1TB, now £199, was £279, save £80 (Tesco Direct)

10. Oral-B Genius 9000 Electric Rechargeable Toothbrush Powered by Braun, was £279.99, now £99.99, save £180 (Amazon)

3. Only shop through genuine websites

The pressure to get something at a lower price before it sells out is high on Black Friday but before you buy anything online make sure the website you’re using is genuine. Secure websites start with ‘https’ and will have a padlock symbol in the URL bar.

If you’re still not sure, search for the company online and check the contact details are the same as those on the website, and watch out for spelling and grammar mistakes which should highlight a bogus website.


Spending spree: Shoppers are expected to spend £2.31 million per minute on Black Friday

4. If you’re buying on Amazon check historical prices

Is that Amazon Kindle a real bargain or has the retailer just hiked the price to make the discount look better? The website CamelCamelCamel.com tracks the historical price of Amazon items. Just enter the URL into the website and you can see how good the current discount really is.

5. Scammers are targeting Amazon shoppers via email

As Black Friday is the most popular shopping day, fraudsters are likely to be out in force targeting shoppers into handing over their cash. Therefore it’s important to be extra vigilant when receiving emails about special deals.

A fake Amazon email has already been reported which tells recipients their order ‘cannot be shipped’ and asks them to click a link within the email to confirm the account. But this is a fake email and by entering your personal details, you could be putting your personal and financial accounts at risk.

 


John Lewis is one of the big brands participating in Black Friday with big discounts on brands

6. Get extra cashback on your shopping

With cashback websites, such as TopCashBack and Quidco, you’ll receive extra money back for the items you buy, if you go first to the cashback site and click the affiliated link.

For example, with TopCashBack there’s 14.3 per cent cashback available through New Look, 11 per cent with Boden, up to £10 cashback through Waitrose and up to £27.50 on AO.com.

7. Check electrical goods are covered

Electrical goods, such as TVs or tablets, usually come with a free warranty for the first year. This covers the item should it break or stop working during this time period but in order to activate the cover you will usually need to register the item online.

8. If delivery’s delayed it’s the retailer’s responsibility

Anything you buy on Black Friday, or any day of the year, should be delivered to you safely and on time. 

If it’s late, faulty or doesn’t turn up, it’s the responsibility of the retailer to get the item to you or provide you with a full refund.

9. Do your research before you hit the shops

Instead of dashing to your local shopping centre, check online first to find out where the best bargains will be. You’ll be able to find both online and in-store discounts (we’ve covered several of the big hitters so far) which will avoid you shelling out more than you planned.

And remember, no matter how good a bargain looks, if you can’t afford it then it’s not worth buying. Before looking at the discounts available work out write a list of what you want to buy and the budget you can realistically afford.

10. Avoid the hype and save your cash

There’s no denying it, Black Friday is over-hyped and overrated and if you don’t fancy hitting the shops or scouring retailers online, you can always just wait until the another sale comes around.

As Alex Neill, managing director of home and legal at Which?, said: ‘Don’t believe the hype – Which? has shown that Black Friday isn’t all it’s cracked up to be.

‘Whether you’re looking to bag a bargain online or in-store this weekend, do your research so you stand a chance of knowing whether you’re getting a good deal and don’t buy for the sake of buying.’  






Courtesy: Daily Mail Online

Ottawa works $7.8-million shortfall over first-half of year as a result of spending rise

25 Nov 16
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The Generous government went a $7.8-million shortfall on the first-half of the financial year mainly because of 7-percent rise in software spending.

The stats are within the newest Monetary Check monitoring record produced monthly by Financing Canada.

The record demonstrates Ottawa went a $2.4-million shortage in October, in comparison to a $1.2-million shortage in September 2015. The final shortfall on the first six weeks of the financial year stood at $7.8-thousand, in comparison to a excess of $1.6-billion on the same six-month time per year earlier.

The record doesn’t project perhaps the spending and income traits come in range with new estimates from Financing Minister Bill Morneau. Regular stats for your bottom-line could change considerably.

Mr. Morneau’s Nov. 1 monetary update expected a $25.1-million shortfall for your existing 2016-17 financial year. The shortage is predicted to attain $27.8-thousand another year before reducing steadily to $14.6-million by 2021-2022. Mr. Morneau hasn’t offered a schedule for if the government can come back to a balanced budget.

The government’s monetary program are at odds in what the Liberals offered during last year’s election strategy. The party’s 2015 plan program assured “modest shortterm failures of significantly less than $10-thousand in all the next two monetary years” which from then on “the shortage can drop and our expenditure program can return Europe to your healthy budget in 2019.”

The government submitted a $1.9-thousand excess in 2014-15 after six straight years of failures. The last bottom-line for 2015-16 was a tiny shortage of $987-thousand.

A deeper examine Friday’s Financing Canada document offers a more descriptive examine spending tendencies.

On the first 6 months of the season, system spending is up 7% or $8.9-thousand. That is because of 5.3-percent upsurge in aged benefits as a result of class, A7-percent upsurge in Career Insurance gains, plus a 15.4-percent upsurge in children’s benefits as a result of fresh Canada Child Advantage.

Constantly low-interest costs continue to aid Ottawa’s funds. The federal government saved $1.4-thousand, or 9.8%, on public debt fees on the first half a year of the financial year as a result of lower interestrates.

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