LINKS ¦ Headlines and stories of interest – this week

See our weekly headline roundup, every Friday, here

  • Anthropic Sets a New Gold Standard in AI: Anthropic’s Claude surpasses ChatGPT by OpenAI, setting a new benchmark in artificial intelligence technology. Read more
  • Younger Borrowers Struggle to Access Credit: A significant percentage of lenders find manual income verification to be a major hurdle in the lending process, affecting younger borrowers the most. Read more
  • First-Time Homebuyers Opt for Longer Mortgage Terms: To manage affordability pressures, first-time buyers are increasingly stretching their mortgage repayments up to 35 years. Read more
  • Mortgage Reforms Could Exclude First-Time Buyers: Post-2008 banking crisis mortgage reforms have made it tougher for first-time buyers to enter the housing market. Read more
  • Companies House Enhances Powers to Combat Fraud: New powers aim to improve data reliability and combat misuse of the companies register. Read more
  • ICO Targets Five Public Authorities Over FOI Failures: Regulatory action is taken against five public authorities for not meeting their legal obligations under the FOI Act. Read more
  • Credit Card Complaints Reach Record Highs: The Financial Ombudsman Service reports a significant increase in credit card complaints amid economic challenges. Read more
  • Virgin Media O2 Implements Significant Price Hikes: Customers face the dilemma of accepting steep price increases or paying large exit fees. Read more
  • Call for AI Adoption Protections for Small Firms: The Federation of Small Businesses emphasizes the need for safeguards against rapid AI integration. Read more
  • Rail Fare Increases Criticized Amid Service Disruptions: Passengers face nearly 5% fare hikes, exacerbating the strain of the cost of living crisis. Read more
  • Quarterly Financial Ombudsman Data Highlights Fraud Complaints: A notable rise in fraud and scam complaints related to current accounts is reported. Read more
  • Individual Voluntary Arrangement Outcomes Analyzed: A statistical release reveals the fate of IVAs in England and Wales from 1990 to 2023. Read more
  • UK Households Face Persistent Debt Challenges: The Money Charity reports on the ongoing struggle of UK households with high levels of personal debt. Read more
  • Household Borrowing Rises Amidst Economic Pressure: High costs continue to impact UK households, leading to increased borrowing levels. Read more
  • Consumer Credit Sees Revival in Spending: An increase in consumer credit in January signals a potential uplift in spending. Read more
  • Rise in Impersonation Scams Warns Public: A 13% increase in impersonation scams calls for heightened vigilance among consumers. [Read more]
  • Record Use of Contactless Payments in 2023: Barclays reports unprecedented growth in contactless payment adoption across all age groups. Read more
  • Financial Impact of Divorce Explored: A study reveals the varying financial outcomes for individuals post-divorce. Read more
  • Cost of Living Affects Family and Friend Visits: Millions report seeing loved ones less frequently due to financial pressures. Read more
  • Restaurant Insolvencies Hit Quarterly High: Over 500 restaurants closed in Q4 2023 amidst various economic challenges. Read more
See also  [LINKS]: Links of the week

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