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Round up of this week's money and personal finance news

In the news - This week’s top money stories

Green pools and Paul Pogba might have dominated the news this week, but these haven’t been the only things to hit the headlines. So before you settle in for the first weekend of the new Premiership season and Olympic action, take a minute to catch up on this week’s personal finance and money news.

1. Banking shake-up

Mobile technology is set to play a central role in high street banking, following a report by the Competition and Markets Authority (CMA). The Open Banking ‘app’ is just one way you could see banking change in the near future.

2. Insurance as well

If you’re guilty of auto-renewing your insurance policies, then help is on its way. From April 2017 a range of measures will be introduced to stop you from taking the easy route and encourage you to look for a better deal.

3. Close to homeless

A third of working families are living very close to the breadline, according to research by housing charity Shelter. One in three households would struggle to pay their rent or mortgage a for more than a month after losing their job. 

4. Repossessions on the fall

The number of mortgages in arrears and home repossessions fell from the end of March this year, according to the Council of Mortgage Lenders (CML). Low interest rates, improving employment figures and lender flexibility were all credited for this trend by a CML director.

5. Misleading broadband

Broadband speeds in rural areas might only be a fifth of what they are advertised. Areas in Wales and Scotland are the worst affected and the Local Government Association is calling for changes to the advertising rules.

6. Not sharing

Just 3,000 new parents took advantage of shared parental leave in the first three months of 2016, according to research by law firm EMW. 

And finally…

We’re no longer a nation of tea drinkers! Young people are turning their backs on the traditional builders brew for speciality teas. Sales are expected to fall by 5% this year. Not only this, but a pint in the pub is becoming an ‘unaffordable luxury’, according to the Campaign for Real Ale (CAMRA). 

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