CAUGHT BY PRICE-RISE WEB

Many broadband customers are wasting hundreds of pounds a year because providers hike prices when their contracts end. Research from uSwitch.com reveals that customers can face increases of up to 62% after their broadband contract expires because their provider automatically switches them to a more expensive deal. The increases mean that on average customers are paying up to £250 more per year than they would if they were on the ball and sought a new competitive deal.

Providers don’t have to notify customers about when their contracts will expire but Ofcom is consulting on rules that would require them to do so.

Richard Neudegg, head of regulation at uSwitch.com, has called for action and said: “Customers must be warned they are moving into these out-ofcontract traps.”

Consumer giant Nestle has sealed a $7.15billion deal to market Starbucks coffee around the world. Nestle has acquired the rights to sell the cafe’s beans and capsules in shops outside of the chain. As part of the deal, Nestle is taking on 500 Starbucks staff, mainly from Seattle and London.