Insurers are raising the 2017 premiums for a popular and significant group of health plans sold through by an average of 25 percent, more than triple the increase for this year, according to new government figures.

The spike in average rates for the 38 states that rely on the federal marketplace created under the Affordable Care Act was announced by federal health officials on Monday. The figures serve broadly to confirm what has become evident piecemeal in recent months: Prompted by a burden of unexpectedly sick ACA customers, some insurers are dropping out while many remaining companies are struggling to cover their costs.

Read the Full Article: Source – Mc Clatchy
Time For Truth: (Mc Clatchy) – Obamacare premiums to go up by double digits

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The last time sterling fell off a cliff we were in the midst of global financial crisis from 2007 to 2008. The currency shock sent inflation shooting up to 5.2pc, abruptly squeezing on real living standards.

On that occasion the poor were at least protected. Benefits and in-work tax credits were indexed to inflation. Social cohesion was preserved.

Read the Full Article: Source – The Telegraph
Time For Truth: (The Telegraph) – Inflation: next year's ticking time bomb

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Dutch bank ING is set to launch a free mobile app called Yolt in the UK on Tuesday (18 October). The app will allow users to view their multiple bank accounts and credit card information on a single platform.

Read the Full Article: Source – International Business Times
Time For Truth: (International Business Times) – ING to launch mobile app Yolt in the UK on 18 October

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Facebook’s UK arm ended 2015 with an £11.3m credit to offset against future tax payments just months after vowing to contribute more to the Exchequer.

Despite reporting a worldwide profit of $6.19bn (£4.97bn), accounts for the social network’s British holding company show that it ended the year with a £11.3m tax credit, compared to a charge of £4,327 in the prior year.

Read the Full Article: Source – The Telegraph
Time For Truth: (The Telegraph) – Facebook gets £11m tax credit, after vowing to pay more to taxman

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The former chief economist of the International Monetary Fund has told the BBC a slowdown in China is the greatest threat to the global economy.

Ken Rogoff said a calamitous “hard landing” for one of the main engines of global growth could not be ruled out.
“China is going through a big political revolution,” he said.

Read the Full Article: Source – BBC News
Time For Truth: (BBC News) – China slowdown is global economy's biggest threat, Rogoff says

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