First Minister Alex Salmond's call for a cap on payday lending has found
support from Citizens Advice Scotland
Scottish News: News in Scotland - Tuesday
Independence: SNP payday loan cap backed by Citizens Advice Scotland
First Minister Alex Salmond's pledge to subject payday lenders to tougher regulation in an independent Scotland has been backed by the chief executive of Citizens Advice Scotland, Margaret Lynch. Ms Lynch said she supported the idea of an interest rate cap on the BBC flagship programme Newsnight Scotland. With the credit market a reserved issue for Westminster, Alex Salmond has called for a cap on short-term lending and the regulation on advertising and restriction on the 'rolling over' of loans. Citizens Advice Scotland warns that in 76 percent of the cases it has examined, borrowers would have grounds to make an official complaint to the Financial Ombudsman Service.
Smith resigns as Rangers chairman amid signs of power struggle
Rangers chairman Walter Smith resigned his post only a few days after Charles Green returned to the Ibrox club as a consultant. There are now concerns over the future of manager Ally McCoist after an exchange where the former Rangers striker lashed out at the former chief executive shortly after Green warned that there would be a "problem" for McCoist should Rangers fail to secure a cup this season. The board have issued a statement expressing its "deep anxiety" at Smith's departure.
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- 'No' vote to independence risks population exodus
- Bank of England should be abolished
Danny Alexander accused of abusing position
Danny Alexander may have abused his cabinet position to benefit his Inverness constituency unfairly according to Labour. The council area inside the LibDem MP's constituency has received more exemption fund money relating to the bedroom tax and any other council - a fact described by the opposition as "fishy". Labour's shadow treasury minister, Chris Leslie, has pointed to a number of other specific projects which "just happen to benefit Danny Alexander's constituency". Leslie believes the trend appears "fishy".
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Italian depression continues
The Italian economy has set a new record by contracting for eight successive quarters. The latest GDP figures show Italy's depressed economy declined by a further 0.2 percent meaning a shrinkage of 2 percent compared to a year ago. The nation has an extreme debt problem, high unemployment, political instability as well as problems within its banking sector. Italy is a member of the Euro currency union.
UK crisis: 90% of McDonald's staff on zero-hours contracts
82,000 workers at Britain's biggest food chain are on controversial zero-hours contracts, it has emerged. Pressure is mounting on business secretary, Vince Cable, to pursue a more thorough review of the practise after official ONS figures appeared to underestimate the number of Britons on the contracts which do not guarantee any hours or income stability.
British and US citizens told to leave Yemen
Amid security reports that al-Qaeda members are gathering in Sana in preparation to execute a plot which would include explosions and suicide attacks on western and other foreign embassies in Yemen. Critics are warning that the threat may be a method of distracting attention away from the NSA revelations whereby citizens were concerns over US-led programmes for collecting mass data on citizens were leading to popular discontent.
Amazon founder buys Washington Post
The billionaire founder of Amazon, Jeff Bezos, has bought the Washington Post for £163mn ($250mn) in cash. The title will not be part of Amazon.com but will be a private acquisition from the Graham family which has controlled the title for 80 years.
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