PPI Claims News: Barclays Sets Aside Additional £600 Million

February 11th, 2013

Britain industry heavyweight Barclays last week pledged £600 million to the continually increasing PPI compensation package. Experts estimate the package to be at £13 billion in total with Lloyds, HSBC, RBS, Barclays and other banks who mis sold PPI contributing to the compensation package early this year.

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Barclays provisioned the additional amount because it was slowly running out of compensation for successful claimants and is contending with its million-pound fine imposed by the US and UK regulators concerning the Libor scandal. Currently, Barclays has contributed more than £3 billion for compensating customers mis sold PPI.

Lloyds is currently the biggest contributor to the compensation package with £5.3 billion followed by Barclays. RBS currently has £2.3 billion and HSBC has contributed £1.3 billion for mis sold PPI.

Experts and financial analysts foresee that the compensation package can rise up to £25 billion this year making it the most expensive financial scandal in the United Kingdom. The British Banking Association proposed a deadline to the Financial Services Authority, which the latter refused to consider with great concern over consumer rights.

The banking industry made PPI a central tenet of profit generation during the UK “insurance boom”, where experts estimate that 3.2 million customers were mis sold at least one or two payment protection insurance claims.

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Three Pointless Computer Gadgets That Actually Look Cool

February 11th, 2013

Computer manufacturers and developers continue to create innovative and helpful products for computer users to aid their daily work or add spice to their computer experience, but some products they create are just plain pointless or distasteful. However, some quirky products actually stick and are actually cool upon second sight. Here are a few products sold on the market today that you can find interesting, if the price is right that is.

tengu

1. Tengu
Tengu is a USB-powered device that, once fitted into your USB slot, can give you a fun-filled work day by lip-syncing the songs playing on your playlist and change its mood according to the music’s mood. You could even chat with it with its built-in microphone and voice recognition software. As an inch-tall device, Tengu is built up of bright LED lights that allow him to make 14 different facial experessions.

sticky tape

2. USB Sticky Tape Dispenser
People usually imagine pointless products that could help provide solutions to rare problems they encounter, such as having not enough space in their bag for a tape dispenser and a USB hub device. The USB sticky tape dispenser actually dispenses tape and serves as a USB hub capable of supporting four more USB slots. Pretty nifty especially if you’re running out of USB space, or bag space.

seat pad

3. USB Heated Seat Pad
It can be very cold in the office and you happened to have forgotten to bring your jacket. Enter the USB Heated Seat Pad, which effectively heats up your buttocks up to 38 degrees Celsius. All these convenience USB-powered, long-term gamers and office people will want this. However, ensure that your computer can generate great power output as the heat might be insufficient when you use it.

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