Millions ‘facing money struggle’

2 December 2012 Last updated at 04:52 ET

Millions of households are struggling to make ends meet, consumer organisation Which? has claimed.

Its research, based on a poll of 2,100 people in October, suggests nearly 10% of households have defaulted on a loan, bill or housing payment.

Some 32% of people surveyed say they are finding it difficult to cope on their current level of income.

It comes as Chancellor George Osborne concludes work on the Autumn Statement, to be delivered on Wednesday.

BBC political correspondent Iain Watson says the Statement is a Budget by any other name and some tax rises for the wealthy and cuts in welfare are widely expected.

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People are having to turn to increasingly expensive ways to meet their costs”

End Quote Richard Lloyd Which?

It found that 2.3 million households had defaulted on a loan, bill or housing payment.

And 1.5 million households had taken out one or more unauthorised overdrafts or payday loans just to make ends meet.

The Executive Director of Which?, Richard Lloyd, argues that people can become trapped in a vicious spiral.

He said: “There are huge knock-on effects for people if they are not paying their loans, paying their bills, their housing costs on time. They often have to pay extra charges, pay extra interest where they are defaulting on debts, and they are unable to get access to credit.

“People are having to turn to increasingly expensive ways to meet their costs. It’s a real worry for many, many people getting in to debt.”

Mr Lloyd says the government “has a job on its hands to convince people that everything possible is being done to keep unavoidable costs like energy and food bills under control”.

“We’re looking for further progress in reforming the energy market, an end to misleading food price promotions, and more competition in banking to take some of the pressure off hard-pressed consumers,” he said.

It comes as the chancellor acknowledged that deficit reduction may take longer than he had planned.

He has called for people to “have the courage to stay the course” amid suggestions that the better-off could be required to contribute more.

However, Labour’s shadow chancellor, Ed Balls, said it was time to “change the medicine – or change the doctor”.

Which? researchers asked participants if they had experienced a range of financial difficulties in the previous month

Respondents were classified according to the most severe difficulty they said they had experienced.

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Italy votes for center-left candidate for premier

ROME (AP) — Italians are choosing a center-left candidate for premier for elections early next year, an important primary runoff given the main party is ahead in the polls against a center-right camp in utter chaos over whether Silvio Berlusconi will run again.

Sunday’s runoff pits a veteran center-left leader, Pier Luigi Bersani, 61, against the 37-year-old mayor of Florence, Matteo Renzi, who has campaigned on an Obama-style “Let’s change Italy now” mantra.

Nearly all polls show Bersani winning the primary, after he won the first round of balloting Nov. 25 with 44.9 percent of the vote. Since he didn’t get an absolute majority, he was forced into a runoff with Renzi, who garnered 35.5 percent.

After battling all week to get more voters to the polling stations for round two, Renzi seemed almost resigned to a Bersani win by Sunday, saying he hoped that by Monday “we can all work together.”

Bersani, a former transport and industry minister, seemed confident of victory as well, joking about Berlusconi’s flip-flopping political ambitions by asking “What time did he say it?” when told that the media mogul had purportedly decided against running.

Next year’s general election will largely decide how and whether Italy continues on the path to financial health charted by Premier Mario Monti, appointed last year to save Italy from a Greek-style debt crisis.

The former European commissioner was named to head a technical government after international markets lost confidence in then-Premier Berlusconi’s ability to reign in Italy’s public debt and push through sorely needed structural reforms.

Berlusconi has largely stayed out of the public spotlight for the past year, but he returned with force in recent weeks, announcing he was thinking about running again, then changing his mind, then threatening to bring down Monti’s government, and most recently staying silent about his political plans.

His waffling has thrown his People of Freedom party into disarray and disrupted its own plans for a primary — all of which has only seemed to bolster the impression of order, stability and organization within the center-left camp.

A poll published Friday gave the Democratic Party 30 percent of the vote if the election were held now, compared with some 19.5 percent for the upstart populist movement of comic Beppe Grillo, and Berlusconi’s People of Freedom party in third with 14.3 percent. The poll, by the SWG firm for state-run RAI 3, surveyed 5,000 voting-age adults by telephone between Nov. 26 and 28. It had a margin of error of plus or minus 1.36 percentage points.

It’s quite a turnabout for Berlusconi’s once-dominant movement, and a similarly remarkable shift in fortunes for the Democratic Party, which had been in shambles for years, unable to capitalize on Berlusconi’s professional and personal failings while he was premier.

But Berlusconi’s 2011 downfall and a series of recent political party funding scandals that have targeted mostly center-right politicians have contributed to the party’s rise as Italy struggles through a grinding recession and near-record high unemployment.

Angelino Alfano, Berlusconi’s hand-picked political heir, seemed again exasperated Sunday after a long meeting with his patron over Berlusconi’s plans. News reports have suggested Berlusconi might split the party in two and re-launch the Forza Italia party that brought him to political power for the first time in 1994.

“We have to work to reconstruct the center-right, and reconstructing it means having a big center-right party,” not a divided one, Alfano said.

He added that Berlusconi didn’t say one way or another if he would run himself. “It’s his choice,” he said. “If there are any decisions in this regard, he’ll be the one to say so.”

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Glen Campbell considering more live shows in 2013

NASHVILLE, Tenn. (AP) — Glen Campbell may be wrapping up a goodbye tour but that doesn’t mean he’s done with the stage.

Campbell is considering scheduling more shows next year after playing more than 120 dates in 2012.

The 76-year-old singer has Alzheimer’s disease and has begun to lose his memory. He put out his final studio album, “Ghost on the Canvas,” in 2011 and embarked on the tour with family members and close friends serving in his band and staffing the tour.

Campbell’s longtime manager Stan Schneider said in a phone interview from Napa, Calif., where the tour wrapped for the year Friday night, that recent West Coast shows have been some of the singer’s strongest. Campbell will break for the holidays and if he still feels strong he’ll begin scheduling more shows.

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Online:

http://glencampbellmusic.com

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Grand jury probing meningitis-linked pharmacy: newspaper

BOSTON (Reuters) – A grand jury is investigating the compounding pharmacy at the heart of a deadly meningitis outbreak, the Boston Globe reported on Saturday.

The grand jury has begun issuing subpoenas to people who worked for the New England Compounding Center, which closed after investigators determined it had produced the tainted injectible steroid that has killed 36 people, the newspaper reported, citing unnamed people who formerly worked for the company.

Grand jury investigations, which are conducted in secrecy, are a step prosecutors take before determining whether to press criminal charges.

Officials at the U.S. Attorney‘s office and NECC could not be reached for immediate comment on Saturday. The Globe reported that U.S. officials declined to comment.

After federal officials in October raided the Framingham, Massachusetts-based pharmacy, U.S. Attorney Carmen Ortiz confirmed her office was investigating the company.

U.S. District Court Judge Dennis Saylor, who is hearing the dozen civil lawsuits filed against NECC in federal court in Boston, said during a Wednesday hearing there may be a grand jury investigation into the company.

(Reporting By Scott Malone; Editing by Vicki Allen)

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South Korea November exports show fragile, uneven global recovery

SEOUL (Reuters) – South Korean exports last month marked their first back-to-back growth of the year, but demand from the advanced economies was weak, data showed on Saturday, indicating any global recovery would be fragile at best.

November exports grew by 3.9 percent over a year earlier to $ 47.8 billion on top of a revised 1.1 percent rise in October, while imports last month rose by 0.7 percent to $ 43.3 billion, the Ministry of Knowledge Economy data showed.

The November data, released for the first time by a major exporting economy, and the robust survey findings in China disclosed earlier in the day offered fresh signs of the global economy regaining some momentum.

Shipments to China and the southeast Asian countries posted sharp gains over a year earlier, whereas demand from the United States and the European Union shrank, according to break-down figures for the November 1-20 period released later.

“Robust data from China and today’s Korean data increase the chances for Korean exports maintaining a modest recovery,” said Park Sang-hyun, chief economist at HI Investment & Securities.

RARE ANNUAL DROP IN EXPORTS

Data released earlier on Saturday showed China’s manufacturing sector activity was at a seven-month high in November, while South Korea’s October industrial output also expanded for the second straight month.

“But as Europe and the U.S. are not getting any stronger soon, any global recovery will be an uneven and fragile one for the time being,” Park added.

Analysts in a Reuters survey had forecast November exports would grow a median 2.6 percent over a year before on top of a revised 1.1 percent gain in October, when overseas sales posted their first growth in four months.

The ministry’s data showed South Korea ran a trade surplus of $ 4.48 billion for November, compared with a revised surplus of $ 3.73 billion in October. The country’s trade balance has been in black for all but two months since early 2009.

Meanwhile, exports for the January-November period were 0.8 percent less than the comparable period of 2011, making it highly likely the country will miss its export target of a 3.5 percent gain set for the whole of 2012.

Reuters calculations show South Korean exports this year would post an annual loss unless shipments in December grow 9 percent or more on a year-on-year basis. The country’s exports grew in all but three years for the past 50 years at least.

South Korea is home to some of the world’s largest suppliers of cars, smartphones and ships. It sends roughly a quarter of its total exports to China and about 10 percent each to the European Union and the United states.

(Editing by Ron Popeski)

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Cargo plane crashes in Brazzaville, 3 dead

BRAZZAVILLE, Republic of Congo (AP) — A cargo plane owned by a private company crashed Friday near the airport in Brazzaville, the capital of the Republic of Congo, killing at least three people, officials said.

The Soviet-made Ilyushin-76 belonged to Trans Air Congo and appeared to be transporting merchandise, not people, said an aviation official who requested anonymity because he was not authorized to speak to the media.

The plane was coming from Congo‘s second-largest city, Pointe Noire, and tried to land during heavy rain, he said.

Ambulances rushed to the scene in the Makazou neighborhood, located near the airport, but emergency workers were hampered by the lack of light in this capital, which like so many in Africa has a chronic shortage of electricity.

“At the moment, my team is having a hard time searching for survivors in order to find the victims of the crash because there is no light and also because of the rain,” Congolese Red Cross head Albert Mberi said.

He said that realistically, they will only be able to launch a proper search Saturday, when the sun comes up.

Reporters at the scene fought through a wall of smoke. Despite the darkness, they could make out the smoldering remains of the plane, including what looked like the left wing of the aircraft. A little bit further on, emergency workers identified the body of the plane’s Ukrainian pilot, and covered the corpse in a blanket.

Firefighters were trying to extinguish the blaze of a part of the plane that had fallen into a ravine. They were using their truck lights to try to illuminate the scene of the crash. Although the plane was carrying merchandise, emergency workers fear that there could be more people on board.

Because of the state of the road connecting Pointe Noire to Brazzaville, many traders prefer to fly the roughly 400 kilometers (250 miles).

Africa has some of the worst air safety records in the world. In June, a commercial jetliner crashed in Lagos, Nigeria, killing 153 people, just a few days after a cargo plane clipped a bus in neighboring Ghana, killing 10.

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The Xbox 720 Is Coming Sooner Than Anyone Anticipated

After almost three years without an update, and with Windows 8 sales flailing, Microsoft will release a new Xbox just in time for Christmas next year, sources told Bloomberg’s Dina Bass and Ian King. Last year Microsoft had said that it wouldn’t release a new version of the gaming system “anytime soon,” with other sources talking up a date sometime in 2013 “at the earliest.” This new Christmas launch makes perfect sense for the video-game nerd anticipated “Xbox 720,” as the rumorers refer to it. An Xbox is one of those it toys that gets people lining up at 3 a.m. during holiday shopping craziness. Even the aging 360 console has managed to double the sales of the new Nintendo Wii so far this holiday season, according to numbers from the NDP Group. Microsoft hasn’t put out an entirely new console since 2005, which led to riots during Black Friday of that year.

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And Microsoft needs a super-anticipated something, since Windows 8 sales fell so flat this year. After whispers that the new operating system wasn’t selling well, NDP research group found that sales fell 21 percent for new computers running Windows. The research group doesn’t measure sales from Microsoft stores or online, but Microsoft has said most of its sales come from third-party retailers like Best Buy anyway. Windows 8 tablet sales were almost “nonexistent” said the report, making up just 1 percent of all Windows 8 sales. Yeesh. However, Microsoft CEO Steve Ballmer has said he is playing the long game on this one, claiming that people will get used to the new look and when they do fall in love with it. Maybe the people will line up for Windows 8 next year, too? 

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If not, though, the new Xbox sounds like an upgrade that will get gamers excited and buying. As for what exactly the gadget will look like, the rumorers say it will be cheaper and smaller than the 360, which retails starting at $ 300. In addition, it will have an udpated Kinect controller, a quad core processor, 8GB Ram, Blu-Ray, and augmented reality glasses, according to “leaked reports.” 

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Health officials: Athens has spiraling HIV crisis

ATHENS, Greece (AP) — Athens is seeing an alarming increase in new HIV infections, particularly among intravenous drug users, health officials warned Friday, as Greece struggles through a protracted financial crisis in which funding for health care and drug treatment programs has been slashed.

While there were about 10-14 new HIV infections per year among Athens drug users from 2008 to 2010, that number shot up to 206 new cases last year and 487 new cases by October this year — a 15-fold and 35-fold increase respectively, officials said.

“There is no doubt we have a big and rapidly developing epidemic in Athens,” said Angelos Hatzakis, an epidemiology and preventive medicine professor at Athens University.

A total of 1,049 new cases of HIV infection were recorded in Greece in the first 10 months of this year, including the 487 drug users. Of the others, 256 were homosexual men, while 108 caught the virus through heterosexual intercourse, the figures showed.

“One of the reasons is the financial crisis,” said Marc Sprenger, director of the European Center for Disease Prevention and Control. “There are more people who are vulnerable, marginalized” and who use drugs.

They turn to cheaper drugs and turn to injecting instead of smoking in order to get the same high from a smaller quantity, officials said.

“We are very concerned,” Sprenger said. “What we see now is this increase, and if you don’t really pay attention to this, it will become in the future a really huge burden.”

Greece has been hammered by a financial crisis since late 2009 that has left the country facing a sixth year of a deep recession and with a quarter of the workforce unemployed. The country relies on international rescue loans from other European countries that also use the euro and the International Monetary Fund to stay solvent.

But in return, the Greek government has imposed several rounds of spending cuts and tax hikes. Charities dealing with drug users and HIV sufferers have also struggled to find funds during the crisis.

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Bulgaria offers citizenship to foreign investors

SOFIA, Bulgaria (AP) — Here’s one way to boost an ailing economy: Bulgaria is offering citizenship to foreigners ready to invest at least half a million euros ($ 650,000).

Under a newly approved amendment, the candidates would have to invest in a Bulgarian company involved in a high-priority investment project in industry, infrastructure, transport or tourism. The investors are also required to have had residence status in the country for at least one year.

Bulgaria, which joined the 27-nation European Union in 2007 and is the bloc’s poorest member, is trying to reverse the severe drop in foreign direct investment from €6.55 billion ($ 8.5 billion) in 2008 to €1.75 billion ($ 2.3 billion) in 2011.

Bulgaria already is handing out passports to ethnic Bulgarians outside its borders, the main beneficiaries being citizens of Macedonia, Serbia, Ukraine and Turkey — countries with living standards at a fraction of the EU average that are years away from possible membership.

The latest amendments have been criticized harshly by the opposition, and did not get unequivocal support from the presidency or the Justice Ministry, the two institutions that deal with the issue of granting citizenship. According to media reports, the Interior Ministry and the security services have also voiced concerns about potential risks to national security during a closed-door parliament committee meeting.

The political and economic instability in the Middle East following the Arab Spring revolutions could prompt wealthy citizens trying to escape the region’s troubles to qualify for the citizenship-by-investment program.

Other EU countries trying to cut public debt and attract foreign direct investment are also considering economic residency programs.

Spain is studying a plan to give residency to foreigners who buy a house or apartment worth €160,000 ($ 207,800) or more. The country has more than 700,000 unsold houses following the 2008 collapse of its real estate market .

Government officials, however, are cautious about the idea.

“It is not government policy. Nor is it likely to become so,” the spokeswoman for Spain’s Economy Ministry said on condition of anonymity because she was not authorized to discuss future policy discussions.

Spain’s residency idea for foreign home buyers would not give permanent residency or the privilege of working.

It still would beat other offers from bailed-out EU countries like Ireland and Portugal, where residency papers are offered to foreigners buying houses worth more than €400,000 ($ 519,400) and €500,000 ($ 649,300) respectively.

Even though these plans increase the number of people who have an EU passport, the EU says citizenship issues are the responsibility of national governments.

Latvia, a non-EU nation on the Baltic coast, offers a deal where property buyers are eligible to receive residency permits if they buy real estate in the capital Riga worth €140,000 ($ 181,800) or places worth €70,000 ($ 90,900) in the countryside.

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Alan Clendenning and Harold Heckle contributed from Madrid.

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