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Brits face penalty fee pitfalls

British consumers are confronted by over 100 different kinds of penalty charges for a variety of reasons as they look to avoid incurring further debt problems. According to research from moneysupermarket.com, there are several different ways lenders can hit customers with fees – some so obscure that even the most well-informed borrowers can get caught out. The average consumer with a current account, savings account, mortgage, credit card and a loan can incur up to £295 in fees – a figure Stuart Glendinning, moneysupermarket.com's managing director, calls "unbelievable". "There is a huge number of default and penalty charges of which even the most astute consumer can fall foul," he said. "It is important to raise the flag of awareness on these penalties and blow the whistle on providers who do not make their penalty fees transparent to consumers from the outset." Regular loans can have as many as 11 different penalty fees attached, from paying the balance off early, to paying what you owe too late.

Volkswagen 2Q Profit More Than Doubles

BERLIN -- Volkswagen AG saw its second-quarter net profit more than double, boosted by a gain from the sale of its Europcar rental unit, the automaker said Thursday.

Wolfsburg-based VW, which has been entangled in a series of corruption scandals just as it battles to cut costs, earned euro859 million ($1.08 billion) in the second quarter of 2005, up from euro333 million in the same period of the previous year. The figures beat analysts' predictions of euro824 million ($1.04 billion).

Bridgestone Profit Down 68 Percent

Pedestrians are reflected on the show window of Bridgestone Corp. in downtown Tokyo Wednesday, Aug. 9, 2006. The Japanese tiremaker reported Wednesday a 68 percent plunge in profit for the fiscal first half because of expenses related to closing a U.S. plant and the surging cost of raw materials, including crude oil and rubber. (AP Photo/Shizuo Kambayashi)

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