Have you ever wondered why some shops ask for your postcode or email address as you check out? They could be building a picture of you and your spending patterns to predict the value of your custom. This is known as Customer Lifetime Value, or CLV, and a high score could be the secret to unlocking better service and hidden perks. However, a low score could mean your interaction with a company is cut to the bare minimum. In the US, it could even affect your credit score. Sizing up the value of customers is nothing new, of course. “It’s like in the old days where they had black books beneath the till which kept a log of the very valuable customers,” says Jamie Merrick, director of strategic solutions... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week … [Read more...] about Shops are rating customers with a secret loyalty score – how valued are you?
The City watchdog wants so-called “zombie banks” to provide more information about their mortgage contracts, amid concerns that customers are being charged excessive rates of interest. Hundreds of thousands of homeowners have mortgages with inactive lenders, usually because the bank they initially took out the mortgage with has since sold the loan on. These customers have been dubbed "mortgage prisoners" because they cannot be offered a cheaper deal by their lender, given these firms are not regulated to offer new mortgage contracts. Strict lending rules also mean they cannot switch to a rival provider. Many of these prisoners are former customers of Bradford & Bingley and Northern Rock whose loans were sold on to third parties following the demise of those banks. In most cases these customers have not missed a payment yet find themselves trapped and unable to switch. The regulator, the Financial Conduct Authority (FCA), has been monitoring … [Read more...] about Sky-high mortgage rates at ‘zombie banks’ come under watchdog’s spotlight
Garry White Follow 13 December 2018 • 5:39pm The age of the global internet may be coming to an end as mistrust between East and West mounts. Rising protectionism, nationalism, and security fears could see the internet split into separate parts, so countries can control what they regard as its negative aspects. This potential outcome, which has become known as the splinternet, could put globalisation into reverse, damage world trade and cut off western technology companies from growth markets. Eric Schmidt, the former Google chief executive, thinks such an outcome is not only possible but likely within the next 10 to 15 years. What will happen if he is right? The internet was developed by the West and private companies were allowed to develop... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try … [Read more...] about The splinternet: is this the end of the world wide web?
Robin Pagnamenta Follow 12 December 2018 • 7:54pm As they propped up the bar at The Plough at Cadsden while nursing pints of IPA in October 2015, David Cameron and Xi Jinping looked like bosom buddies. But amid the backslapping at Chequers and talk of a fruitful new relationship based on trade and mutual cooperation, the warm scenes were making Cameron’s closest Western allies distinctly jittery. At the US embassy in Grosvenor Square and in Washington DC, American diplomats peered on in dismay as Xi and the Queen were driven in a golden carriage down The Mall as guardsmen lined the route. So much has happened since those scenes, it would be easy to forget they took place just three years ago. Today, Cameron’s legacy is viewed through the lens... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week … [Read more...] about The Chinese security risk woven into UK’s networks
Theresa May will win the no confidence vote tonight if the MPs who have come out in support of her vote the way they have stated they will. Over 158 Conservative MPs have written of their support for her on Facebook or Twitter. Just 28 have publicly declared that they are against the Prime Minister. There are 315 Tory MPs which means the PM now has a majority - assuming all of her backers deliver on their promise. There are definitely at least 48 MPs who last night said they had no confidence in Mrs May. Sir Graham Brady, the chairman of the 1922 Committee of backbench Conservative MPs, confirmed in a statement issued just before 8am he had received the 48 letters needed to call the vote and... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for … [Read more...] about The 158 MPs who have publicly declared support for Theresa May, enough for her to win the no confidence vote