El Salvador’s government picks up 420 Bitcoin amid price dip October 28, 2021 El Salvador’s government, the first in the world to make a cryptocurrency legal tender, picked up 420 more bitcoins as price dipped below $60k. Bitcoin has been on a major hotstreak over the past two weeks maintaining a price above $60k for 11 consecutive days before finally deflating yesterday to $58k. El Salvador’s government used [...]
Budget: UK tech and fintech startups face higher bills after tax credit restrictions – CityAM : CityAM October 28, 2021 The UK’s burgeoning tech startup and fintech sector will be hit by the new restrictions on the use of R&D tax credits announced in the Budget, industry insiders warn this morning. From April 2023, businesses will only be able to claim R&D tax credits on research and development work done in the UK. As UK [...]
John Lewis in hot water as “misleading” ad is pulled October 27, 2021 John Lewis was forced to apologise after it aired an ad that was considered potentially misleading by the financial watchdog. “This advert has been withdrawn because the Financial Conduct Authority (FCA) considers the content to be potentially misleading and could cause customers to be confused about John Lewis’s new home contents insurance offering,” the department [...]
Budget 2021: Alcohol duty to be overhauled as spirit duty hike cancelled October 27, 2021 Chancellor Rishi Sunak has set out a five-step plan to overhaul alcohol duty, speaking at the Budget. The current system is “outdated, complex and full of historical anomalies”. The number of main duty rates will be cut from 15 to six with an aim to “end the era of cheap, high-strength drinks.” Drinks are to [...]
Budget 2021: Levy for property developers to fund removal of unsafe cladding October 27, 2021 Chancellor Rishi Sunak has reiterated plans for a levy for property developers to help create a fund to remove unsafe cladding. Speaking at the Budget, Sunak said property developers with profits over £25m will face a levy at a rate of 4 per cent. This will be used to help create a £5bn fund to [...]
Over 80,000 12 to 15-year-olds book Covid-19 vaccinations in teen rollout October 27, 2021 More than 80,000 12 to 15-year-olds have booked a Covid-19 vaccination, as cases among secondary school age children remain high. Around 2.5m letters will be sent out to parents this week, which will invite them to book a jab for their child. Covid-19 vaccines were made available to the age bracket in late September, but [...]
How TikTok accounts lure teens into fraud October 27, 2021 When he accidentally became a money mule, “Tom” was only fourteen. A friend transferred him 250£ and asked to withdraw them in cash. Days later “Tom”’s bank closed his account, and he hasn’t been able to open a new one anywhere since. He is now sixteen and believes he has a Cifas marker – meaning [...]
Bitcoin drops below $60k as markets cool off October 27, 2021 The price of bitcoin yesterday closed below $60,000 for the first time in almost two weeks, with two minor flash crashes on Wednesday morning seeing the largest cryptocurrency fall to as low as $58k before recovering to around the $59k level, where it’s currently changing hands. That’s down 2.5% since yesterday morning and 8.5% over [...]
Role reversal: Why reverse mentoring is a ‘no-brainer’ October 27, 2021 Even before the pandemic, the World Economic Forum was describing reverse mentoring as a ‘no-brainer’. Now, as employers look to establish new working norms, Patrice Gordon CA explains why it could prove business critical. This article first appeared in ICAS’ CA magazine. Accountancy and psychology may seem an odd combination for a degree student. But for [...]
Tik-ing time bomb: Social media companies told to crack down on money mule ads October 27, 2021 City bigwigs have demanded social media companies clamp down on “money muling” ads on their platforms which could leave young people blacklisted from credit for life. Teenagers are being targeted on TikTok by criminals who promise quick money in exchange for participating in fraudulent activity, or so called “money muling”. An increasing number of teens [...]