[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

1. UK Consumers Increasingly Turning to BNPL Services Amid Rising Reliance on Credit Cards
   • UK consumers are showing growing interest in Buy Now, Pay Later (BNPL) services, with 53% resorting to credit cards for everyday expenses, according to Marqeta’s 2023 State of Credit report. Read more
2. Property Market Remains Stable Yet Unusually Flat in the UK
   • The UK property market maintains stability despite stagnant valuation volumes, reflecting the financial constraints faced by homebuyers. Read more
3. Bitcoin Mining Consumes More Electricity Than Most Countries
   • A recent study reveals that Bitcoin mining’s environmental impact is substantial, with energy consumption surpassing that of many nations. Read more
4. Barclays Focuses on Cost Efficiencies and Loan Default Preparations
   • Barclays allocates additional funds for loan default contingencies while seeking opportunities to enhance cost efficiency, despite benefiting from higher interest rates. Read more
5. Food Bank Usage in Canada Reaches Historic High Amid Soaring Living Costs
   • A Food Banks Canada report highlights a surge in food bank usage, with the cost of living reaching unprecedented levels, impacting even employed individuals. Read more
6. PriceHubble Acquires WhenFresh to Bolster Data Solutions Across Industries
   • PriceHubble’s acquisition of WhenFresh aims to create a global data solutions powerhouse, benefiting banking, insurance, asset management, and real estate sectors. Read more
7. ECB Holds Interest Rates Steady Amid Eurozone Recession Concerns
   • The European Central Bank (ECB) keeps its key policy rates unchanged, pausing a series of rate hikes, as it grapples with inflation worries and the potential for a recession in the eurozone, particularly in Germany. Read more
8. Unilever’s Deodorant Sales Surge as Employees Return to the Office
   • Unilever’s personal care division witnesses a boost in deodorant sales, offsetting a decline in overall product volume, as more workers return to office settings. Read more
9. Bank of Canada Governor Addresses Impact of Aggressive Rate Hikes
   • Bank of Canada Governor Tiff Macklem acknowledges the financial hardships caused by aggressive rate hikes but refrains from specifying when rates will drop again. Read more
10. CFPB Report Highlights High Credit Card Interest and Fees
    • A Consumer Financial Protection Bureau (CFPB) report reveals that credit card companies charged consumers over $130 billion in interest and fees in 2022, with concerns about rising consumer debt. Read more
11. Rising Rent Pushes Young UK Renters into Debt
    • Increasing rent prices are causing a significant rise in debt levels among UK renters under the age of 45, according to data from a personal insolvency provider. Read more
12. Energy Bills Top the List of Financial Concerns for Half of UK Adults
    • Half of UK adults cite energy bills as their most significant financial worry, with single-person households being the most apprehensive about rising energy costs. Read more
13. High-Cost Short-Term Lender Enters Administration
    • A high-cost short-term lender has entered administration as funding markets become more challenging, reflecting the changing financial landscape. Read more
14. Curve Launches Its First Credit Card in the UK
    • All-in-one card app Curve introduces its inaugural credit card in the UK, offering users protection against problematic purchases, even when using debit cards. Read more
15. UK Government Mulls Extension of Mortgage Guarantee Scheme
    • The UK government is contemplating extending its mortgage guarantee scheme, reflecting ongoing efforts to address housing and financial concerns. Read more
16. UK Income Levels Pushing More People Toward Destitution
    • Low income levels in the UK are driving a rising number of individuals toward destitution, with even those slightly above the poverty threshold experiencing significant hardship. Read more
17. UK Child Destitution Nearly Triples Over Five Years
    • The number of children living in destitution in the UK has almost tripled in five years, rising by 186% from 2017 to approximately one million in 2023. Read more
18. Intrum Turns to Banks for Funding Amid Challenging Commercial Paper Market
    • Swedish debt collector Intrum AB taps into bank credit lines as commercial paper sales become increasingly difficult, reflecting shifting funding dynamics. Read more
19. UK Credit Card Companies Rake in Over $130 Billion in Interest and Fees in 2022
    • UK credit card companies generated substantial profits, with consumers who carried a balance paying a significant portion of their average balance in interest and fees. Read more
20. Facebook Reports Robust Earnings with Rising Daily Active Users
    • Facebook’s latest financial report indicates robust performance, with daily active users reaching 2.1 billion, a 5% increase compared to the previous year, as the company continues to optimize its advertising and AI integration. Read more

Thank you for Signing Up

Please correct the marked field(s) below.

1,true,6,Contact Email,2 1,false,1,First Name,2 1,false,1,Last Name,2