Transport Secretary Justine Greening has said she will consider legislation to force petrol retailers to pass on cuts in the wholesale price of fuel.
The Department for Transport says pump prices paid by motorists have fallen by just 7p despite a 10p fall in wholesale prices since April.
Ms Greening told the BBC she would consider taking further action to ensure motorists "get a better deal".
But petrol retailers said her remarks showed a "lack of understanding".
Petrol prices have fallen back since hitting record levels in March, when unleaded rose above £1.40 a litre.
'Blurred world'The AA said wholesale costs across northern Europe had dropped more than 16% during May, but petrol retailers had been slow to pass this on to motorists.
Its president, Edmund King, welcomed Ms Greening's comments, saying: "Over the past seven years we have asked governments to act against the blurred world of UK pump prices, which every driver knows shoot up like a rocket and fall like a feather."
A Department for Transport source told the BBC the industry would have a matter of weeks to come up with a voluntary code of conduct to ensure wholesale falls were passed on within a fortnight to the motorist.
But if a scheme could not be agreed, he indicated the government would look at legislation, although the source was unable to say how long that might take.
Ms Greening told the BBC she wanted a voluntary scheme to be agreed.
She said: "That's what we're going to look at first, but if that doesn't work we will look at some of the things other countries have done like Germany, Austria and Denmark, who have taken more mandatory action in this area.
"I'm really determined that motorists get a better deal."
VAT callShadow transport secretary Maria Eagle said: "Petrol stations should be lowering their prices when wholesale costs of fuel fall, and it is unacceptable if they are refusing to do so, especially when they are quick to pass on any increase.
"Ministers must also accept their share of responsibility for eye-wateringly high prices at the pumps thanks to their decision to hike VAT on fuel."
She added: "Ministers should temporarily restore the lower rate of VAT to fuel to give much-needed relief to households feeling the squeeze, as well as acting to ensure price cuts are fully passed on to motorists."
Brian Madderson, chairman of the Retail Motor Industry Federation's petrol division, said: "Suggestions that the falling price of oil and wholesale price movements on the continent should dictate further pump price cuts across the UK by independent forecourt operators is damaging to this struggling sector and shows lack of any real understanding of fuel price mechanisms."
Warrant out for Qatari fire mall chief - Morning Star
The owner of the childcare facility where the children and four workers died, the security chief and two other mall officials were also being sought by Attorney General Ali bin Feitais al-Marri.
Sprinkler systems malfunctioned at the Villaggio complex - the Gulf kingdom's biggest shopping centre - and two firefighters died struggling to battle flames without blueprints of the centre.
It was not clear if charges would be filed.
Investigators were still carrying out extensive probes of the complex on Wednesday and no-one had yet announced the cause of the fire.
Findings are expected within a week.
The tragedy brought calls for sweeping safety and licencing reviews and is expected to push authorities across the Gulf to bolster safety regulations where until now the "build fast, build big" mantra has led to concerns over the quality of emergency planning.
The complex largely catered to Western expatriot communities.
Rescue crews in Doha had to hack through the roof to reach the childcare facility, where the victims included two-year-old New Zealand triplets and three Spanish siblings.
Stealing shopping carts is a crime - Ogden Standard-Examiner
Ever notice all the shopping carts scattered along the roads, sidewalks, fields and ditches? Ever see a person pushing a cart along the road a mile from any stores? I've noticed them for years and wondered what impact the wayward carts have on the stores.
There are five carts pushed into the bushes on Gentile street in Layton at one house. Each cart cost between $200 and $300. Many people who take these carts have no intention of returning them. So a person buys a few dollars of groceries and takes a $200 a cart to ferry them home. I understand some people don't have transportation to and from the store, but this does not give them license to take the carts.
This should not be an accepted practice. Who gets to pay for them? You and I do by paying higher prices. Next time I see a cart being pushed down the sidewalk I'm calling the police and reporting a theft. Please do the same.
Gus Petersen
Layton
A European stress test for Australia's banks - Business Spectator
So, Australian Prudential Regulation Authority chairman John Laker believes Australian banks could survive ‘’a period of months’’ without access to global markets if global funding markets freeze as a result of the turmoil in Europe. That’s not exactly reassuring.
In fact the major banks themselves believe they are holding sufficient liquidity, have termed out their wholesale borrowings sufficiently and have displaced sufficient wholesale debt with customer deposits to survive quite a lot longer than that.
Laker’s comments during his regular appearance before the Senate Economics committee, however, do point to renewed concern within the banking regulator about the potential for another flashpoint in the ongoing instability within the global financial system since the initial crisis erupted in 2007, what Laker described as a ‘’roller coaster ride’’ in financial markets, which was again on a downwards swing after the Greek and French elections and the banking crisis emerging within Spain.
Laker’s checklist for the Australian bank’s prudential health has a number of ticks.
They are solidly profitable; they are holding historically high (indeed very high) levels of (high quality) capital; the major banks have only ‘’very limited’’ exposures to the euro area countries under the most strain; the larger banks have lengthened the maturities of their wholesale funding and they are holding a lot of liquidity. The majors have also established a market for covered bonds and retain significant headroom to issue more and have access to repo transactions with the Reserve Bank if necessary.
Despite all that, Laker believes that any break-up of the euro area or a European sovereign or banking default would create market turmoil and would impact on the major banks because of their continuing, albeit reduced, exposure to global funding markets.
He’s less concerned about domestic threats, saying the prospect was for near-trend growth in the Australian economy in 2012 and 2013, the terms of trade remained high, inflation and unemployment low and the fiscal position strong.
That’s true of the economy overall, although the recent spate of company collapses, significant and continuing job losses, the depth of the anxiety and risk-aversion among consumers and sliding house prices might be emerging issues of concern.
The majors showed in 2008 that, with some assistance from the federal government in the form of the funding guarantees (which they paid for), they were able to weather that storm. Today they are in far stronger shape to cope with a reprise of that seizure in global markets after the Lehman Bros collapse.
The Australian corporate sector generally, with some exceptions, is also in better shape. It has less debt, particularly short-term debt, and more liquidity. Historically the biggest threat to the banks has been their commercial property exposures, but they have reduced their lending to that sector, which has itself reduced its gearing.
If house prices were to continue to slide and unemployment were to escalate as the non-resource economies continue to splutter, however, that might cause the banks some issues, although it would take very large spikes in both to create a material threat.
Earlier this year an IMF working paper looked at the Australian majors through a novel lens, asking what would happen if the Irish experience of an unemployment rate of 13.6 per cent and a near halving of house prices from their pre-crisis peaks were to occur here. They concluded that the majors’ tier one capital ratios would fall by only 1.5 percentage points and remain above the regulatory minimum.
The only scenario where the majors would need to raise new capital would be if their peak corporate loan loss experience of the original crisis –about six per cent of their corporate loan books – were to be repeated in tandem with that surge in unemployment and crash in house prices.
Earlier this month an IMF team arrived in Australia to undertake a rather more formal stress-testing of the majors, so there’ll be another check on the battle-readiness of the system.
Laker did point to another potential source of risk. With minimal growth in demand for credit and the deposit wars maintaining pressure on their margins, the banks’ earnings growth has flattened and their returns on equity are subsiding. There is some potential that a bank or banks might succumb to pressure from the market to chase higher earnings by taking on more risk.
The way Laker put it was that ‘’in this environment strategic ambitions will be crucial in determining how ADIs (authorised deposit-taking institutions) maintain their financial strength and profitability in a durable way and these discussions are a key topic in APRA’s regular discussion with boards and senior management.’’
APRA is known to have, among other issues, let the banks know it would be concerned if, for instance, they were to relax their loan-to-valuation ratios to try to drive more housing loan volumes.
It showed itself to be a vigilant and proactive banking regulator ahead of and during the financial crisis. One assumes it wants to maintain that reputation which, along with the actual resilience of the banks, may yet be tested again if the European authorities can’t devise or agree on a formula for stabilising the eurozone and averting the threat of a destructive fracturing of the eurozone, with banking and sovereign debt defaults, that would give the global financial system an even bigger shake than it experienced in 2008.
The Pros And Cons Of Online Grocery Shopping - Huffington Post
When it comes to grocery shopping, we fall into two camps: One group loves to go grocery shopping and the other wants to get in and out as fast as possible. If you fall into the latter group, online grocery shopping might be perfect for you.
Many of us have shunned online grocery shopping for some time, but with more and more online grocers popping up (now even Walmart and Amazon offer groceries online), shopping for food on the internet has become increasingly easy. Just imagine sitting at your computer picking out all the items you need for the week. Then all you do is choose a delivery time and wait for your groceries to arrive at your door. For many, this sounds like a dream come true: You can avoid the crowds, skip the lines and avoid all the frustration that goes along with shopping. If this sounds like you, see our list of pros and cons below -- we'll let you decide whether online grocery shopping is worth it or not.
Main photo from rick, Flickr.
Wholesale Christian Products - Witness Wear That Sells Quick! - PRLog (free press release)
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Our new wholesale website also offers our patent pending Cross Impression Flip Flops, nearly 125 Christian tee shirt designs, Christian hoodies, Christian watches, Christian jewelry and more.
Our mission is to spread the gospel and to love our neighbors by donating proceeds from all sales to several Christian organizations. We currently sponsor international missionaries, several children from Compassion International, K-Love radio and a wide variety of homeless and food programs in our local area.
If you are a Christian retailer and you are looking for unique and fast selling Christian products please visit our new Christian wholesale website. We would truly be honored to partner with you in spreading the gospel of our amazing Lord and Savior….Jesus Christ!
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God Bless and may Peace Be With U!
Imogen Thomas changes outfits THREE times in one morning... to go shopping in Sainsbury's - Daily Mail
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She always ensures she's styled to perfection in case a camera just happens to be looming around the corner.
But Imogen Thomas has now taken her vanity to new extremes.
The former Big Brother star was spotted stepping out of her house this morning in not one, not two, but three different outfits.
How many clothes?! Imogen Thomas changes three times in one morning before finally heading out to do some food shopping
And it was all so she could look her best for an excursion to her local Sainsbury's.
Imogen, 29, first walked out of her London home in a strapless floorlength black dress.
She wore flip flops with sunglasses on as she scraped her hair back into a ponytail, while she accessorised with a large animal print bag.
Final look: After A LOT of indecision the Big Brother star finally opted for a vest top and denim shorts
But after walking along the street the glamour model then disappeared in her house again to change into another ensemble.
Imogen then emerged in her second outfit of the morning.
This time she showed off more skin with a Versace-inspired mini-dress in a red, white and turquoise print.
Three looks: Imogen showed the extent of her wardrobe as she showed off outfit after outfit all morning, starting with a black dress, followed by a mini frock and finishing in denim shorts
And she even changed her accessories, going for brown wedges and a red/brown leather handbag.
But the look was short-lived as she got changed yet again before finally heading out food shopping.
Thomas let her hair down for her third and final look, while she went for denim shorts with a leather belt, a beige vest top and a black fringed bag.
Imogen then stepped out to run her errands and bought a Big Issue off a female seller outside the shop.
Shopping around for a bank account - BBC News
Following a speech last week by the future banking regulator, Andrew Bailey, there has been speculation about the possible end of free-in-credit current accounts.
Most people have got used to not having to pay for their current account, unless they go overdrawn. The UK is unique in Europe in enjoying free banking so its demise would cause quite a stir.
One of the features of the current account market is that customers tend to be very loyal. Only about 4% to 8% of customers switch their current account each year, depending upon which estimate you read.
But are they paying for such loyalty? It is quite possible that by changing their current accounts, they could get a better deal elsewhere.
It is also likely that switching would increase dramatically if free-in-credit current accounts disappeared because the imposition of monthly charges would undoubtedly spur many to look for possible alternatives.
In essence, there are four types of current account available.
Basic bank accounts
These do not offer overdrafts. If they have a debit card it tends to have limited facilities.
They can be opened without undergoing any credit check and are offered by the providers as part of the government's strategy for financial inclusion because they enable those who cannot get a full service current account to access banking facilities.
They do not incur a monthly fee. There are 20 basic bank accounts available.
Free-in-credit current accounts
These are full-service bank accounts that are free to use for those that remain in credit. There are 55 free-in-credit current accounts available.
Student current accounts
These are broadly similar to free-in-credit current accounts but tend to offer interest free overdrafts and other goodies to attract students who, the providers hope, will remain long-term customers.
There are 28 student current accounts available.
Packaged current accounts
These are full service current accounts that charge a monthly fee which typically range from about £8 up to £25, although some premier accounts charge as much as £40.
In exchange for the charge, a variety of incentives such as travel insurance, mobile phone insurance and motor breakdown assistance policies are provided.
There are 65 packaged current accounts available.
There are also a number of current accounts denominated in foreign currencies which can be useful for those who have foreign income and expenditure.
ProvidersCurrent accounts tend to be dominated by the banks but there are five building societies that offer current accounts.
There are also a number of foreign banks that offer them such as ICICI, Punjab National Bank and the State Bank of India. Tesco has signalled its intention to launch a current account in the not-too-distant future.
When looking for a new current account, there are a few key points to consider.
“Start Quote
End QuoteA current account does not have to be for life and there are significant safeguards being put in place to make switching a relatively seamless process”
Firstly it depends upon how the account will be used, because the best account will vary from person to person.
Those who never use an overdraft should opt for an account that pays interest on credit balances. Some 63% of current accounts no longer pay interest.
Examples include Halifax's Reward Current Account, which pays £5 (net of basic rate tax) every month that at least £1,000 is paid in. Santander's 123 Current Account charges £2 a month but pays interest of 1% on balances over £1,000, 2% on the entire balance if the balance is over £2,000, or 3% on the entire balance if it is over £3,000 up to a maximum balance of £20,000. It also pays cash back on council tax, utility and communications bills.
Somebody more likely to go overdrawn should concentrate on the overdraft costs. There are a myriad of different overdraft tariffs in the market and this complexity makes overdraft comparisons very difficult.
The size and frequency of overdraft usage and the number and size of transactions can all affect the overall cost. It is also worth noting that the availability of overdrafts is subject to the credit status of the applicant.
Some current accounts offer an ongoing interest-free overdraft. The highest interest free overdraft from a free-in-credit current account is £500 from Citibank's Plus Current Account but customers must pay at least £1,800 into the account every month otherwise there is an £8 monthly fee. By paying less than £1,250, the interest free overdraft is removed.
It is worth noting that interest-free overdrafts are generally more prevalent among packaged current accounts.
Online bankingCustomers should also consider whether they want branch access or would accept doing all their banking online. They should check that the account permits them to operate it as they wish.
Some accounts insist on paying in a minimum monthly amount every month - typically £500, £750, £1,000 or £1,500. This is to ensure it is used as a primary current account.
Failing to pay in the required monthly amount with one of these accounts would probably lead to a benefit or incentive being reduced or removed, or a financial penalty being levied.
Anyone contemplating a packaged current account should make sure they want and need the various incentives and, if so, that they are suitable for their circumstances and represent value for the monthly fee being charged.
Some providers restrict certain other products to their current account customers. Anyone wanting an HSBC credit card or unsecured loan can only get it if they have an HSBC current account. NatWest and RBS have a similar restriction.
Some providers offer special mortgage deals to their current account customers, but do bear in mind that just because a mortgage is a "special" deal, it does not necessarily mean that it cannot be beaten elsewhere.
Enhanced savings, unsecured loan and credit card deals are similarly in evidence.
There is no doubt that providers want you as a current account customer, provided of course that you use it as your main current account.
They regard it as the key way to build a relationship with the customer and it enables them to target customers with other products that are appropriate for their circumstances.
Many providers want to become a one-stop shop for all their customers' financial needs, and the current account is the preferred avenue by which to deepen such relationships.
A current account does not have to be for life and there are significant safeguards being put in place to make switching a relatively seamless process. It is worth taking the time to see if you can get a better deal and it might save you a lot of money.
The opinions expressed are those of the author and are not held by the BBC unless specifically stated. The material is for general information only and does not constitute investment, tax, legal or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Links to external sites are for information only and do not constitute endorsement. Always obtain independent professional advice for your own particular situation.
Sophisticated wholesale celebrity dresses selection - 1UP.COM
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To choose ideal plus eye-catching general Celebrity Dresses for the superstars, there outfit web developers. There exists a video director and many other those who find themselves really available for advice and help. But to help you to produce a right ...Can a pill stop you shopping? - Daily Mail
by CAMILLA LONG, Evening Standard
Film stars and sex, toddlers and telly, It girls and Gucci - there's an addiction out there that's just right for you.
Take shopping. It doesn't make you fat, nor does it kill you, unlike other fun stuff we could mention.
But it certainly hits the spot for sufferers from "aspendicitis", "plastic disease" or "Madame Bovary syndrome" (after the fictional heroine who liked to shop till she dropped).
An incredible eight per cent of the US population has been estimated to suffer from this newly fashionable disorder, but what's more amazing is that the drugs industry, always quick to spot a marketing opportunity, has formulated an "anti-shopping drug", which is now being prescribed by doctors in Britain.
Citalopram, manufactured in Europe by Lundbeck under the brand name Cipramil, is one of the family of drugs known as selective serotonin reuptake inhibitors (SSRIs), which also includes Prozac. It has recently undergone extensive tests at California's Stanford University which, it is claimed, prove its ability to stop people overspending.
"The drug seemed effective for nearly three-quarters of those who took it," explains Dr Lorrin Koran, who led the Stanford study and estimates that 90 per cent of sufferers from this obsessivecompulsive disorder are women.
"Many subjects found eventually that they could visit the shopping centre and not buy anything at all."
A lot of us find it difficult to leave the house, let alone visit the mall, without buying anything at all, so just where does harmless retail therapy end and compulsive shopping begin?
Dr Robert Lesever runs the Promis Recovery Centre with clinics in Kent and London and provides therapy for shopping addicts.
"A compulsive person becomes dependent and uses shopping to alleviate emotional problems," he explains, but the spree which "medicates" these problems provides only momentary relief. It's only a matter of time before the sufferer becomes hooked and their shopping begins to effect not just their bank balances, but their relationships.
But with inappropriate levels of consumer credit an everincreasing problem over here, will we soon be prescribed Cipramil with our debt counselling?
Dr Lefever is doubtful, and advocates a proper course of therapy. He says, "Emotions are never properly cured by drugs. You can't just medicate everything."
But other psychiatrists working in the field testify that Cipramil is noticeably more effective at treating shopping addiction than Prozac, for instance, which is also used to medicate obsessive-compulsive disorders.
Dr Neil Brener, a consultant psychiatrist at the Priory, north London, is a specialist in shoplifting and shopaholics. He has successfully used Cipramil alongside therapy to treat his patients, although he points out that, "since compulsive shopping is a genuine psychiatric problem caused by many different factors, in some cases citalopram will be more helpful to curb it than in others".
He welcomes the Stanford research, which confirms his own clinical experience.
With the conclusion of that research, Lundbeck and US manufacturers of the drug will be free to market their product as the world's first chemical overdraft excluder.
Below, three shopaholics reveal their experiences of Cipramil.
Luke, 21, medical student
LUKE decided to take Cipramil after his shopping habits led to suicidal thoughts. He stayed on it for three months. He says:
"I've always had a slight problem with spending too much, but when I came to university it got worse. I'd buy tons of clothes, CDs and computer equipment and feel a physical thrill when I paid for it. I even bought some vinyls without owning a record player - don't ask me why.
"The strain of work and personal relationships meant that increasingly I would try to cheer myself up by buying things - and, in the end, I couldn't go into a shop without making a purchase. I couldn't escape the craving for the high that shopping gave me, and the debts piled up.
"I started getting so worried about it that I contemplated suicide. That was the wake-up call. I confided in a friend and she said I should see my GP immediately. I was scared what might happen if I didn't.
"He said Cipramil would stop me feeling depressed one minute and compensating for it by shopping the next. The drug doesn't kick in properly for about a fortnight. To start with, I had mild, bearable stomach cramps. When I finally felt the emotional effects, my spending did stop a bit. I felt I didn't need that high when I handed over the credit card.
"I felt so much better on the drug that after a short while I wanted to come off it and get on with my life drugfree. My doctor was happy with my decision, so didn't prescribe any more. I had no problem coming off it, and I didn't start feeling depressed again. But soon my old habits came back - and I suddenly found myself blowing £600 on clothes. Three months on, I'm sorry that I still spend, but I don't have suicidal thoughts about it, and that's the main thing."
Christelle, 26, sports shop manager
Christelle's doctor prescribed her Cipramil in a last-ditch attempt to curb her addictive behaviour. She says:
"For seven years, I was addicted to shopping. I've got an emotional illness which finds relief in addictive behaviour, and shopping was one form of this.
"I became hooked on it when I was 18 when I got my first store card. I discovered it could momentarily relieve anxieties about my life. Eventually, I was running up debts of hundreds a month. I found that paying for luxury items gave me a particular high. I started seeing a psychiatrist who was prescribing me every drug under the sun to try to eliminate the compulsive urges. So when he suggested Cipramil, I thought, why not? I reckon I was on about 15 different pills a day by then, so I guessed it wouldn't make a difference.
"But it had a very strange effect on me. I don't know if this was due to all the other drugs I was on, but it knocked me out, and I could hardly move. So I suppose it did cure me of shopping - I couldn't get out of the house.
"After about six months on the drug, I had had enough and I wanted to purge my system. I didn't think it was doing me any good, and I felt awful. My doctor was still worried about my problems but understood my wish to try a different approach.
"I came off it and went straight back to the spending. Only when I tried a 12-step programme of therapy did I register improvement with everything - a vast improvement, because, two years on, I'm not on any medication at all and I feel normal.
"I still get the impulsive urges to go shopping, but I have learned to control them mentally. I'd never go back to the pills now."
Anya, 32, singer
Anya has been on Cipramil for a year, although she is trying to come off. She says:
"I didn't do anything about my shopping problem for years, because I lived so far away from my GP. I'd just go out and buy things for a buzz - mainly food, alcohol and clothes - and simply could not stop shopping. But at the end of the day, I'd get home and just leave the purchases in the corner of my room, still in the bag.
"I remember trying to explain to friends the moped I'd bought. I didn't have a licence!
"I can't believe I didn't make the effort - I knew perfectly well I had a problem, because I was utterly embarrassed by my behaviour. I moved house and went to a GP who referred me to a psychiatrist. He prescribed me a new drug - Cipramil.
"The side-effects were a problem, although the lure of buying things diminished. I found I could go into shops and come out after a few minutes instead of hours. I experienced nausea for the first 10 days, although it wasn't terrible.
However, I made a mistake when I didn't cut down on my alcohol. One evening I was enjoying my favourite drink - an alcopop - when suddenly I felt very sick, and very drunk. Worse than this, my libido vanished.
"I wanted to try to come off the drug to prove that I could survive without medication and to get my sex-drive back. My doctor reduced the dosage, but it coincided with a bad time in my personal life and I started having panic attacks. This was unusual as I'd felt under control when I was on the drug.
"My doctor explained that I didn't have to come off it at exactly that time, and I decided to stay on it for the time being. I don't like being dependent on it - but it's better than being utterly dependent on the shopping."
She has no fashion sense whatsoever. zero.zelch.nada
- me, over here, 31/5/2012 01:15
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