Stocks started the week with promise but ended in despair. Our take on the big reversal

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CNBC·1h ago3 outlets

Binance, crypto and hacks: What to know about keeping coin safe as cyber criminals advance

The Binance hack of $6.3 billion, the largest crypto theft ever, is a wake-up call for investors to understand how coin is guarded and the risk of losing it.

CNBC·1h ago

Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday

Binance says it has restored backing for 90% of assets affected by its $6.3 billion hack and is planning to resume withdrawals, subject to security checks.

The Guardian·1h ago

A-listers and AI stylists: how high-street brands are staging a fashion comeback

Gap, M S, Topshop and more are taking a leaf from luxury label playbooks to satisfy savvier generation of shoppers High street brands that boomed in the noughties before the squeeze of both sustainably minded consumers and the rise of ultra-cheap online labels are staging a comeback. This time, rather than focusing solely on trend-led affordable designs, the names familiar to any shopper are courting luxury fashion, A-list collaborations and enhanced services in an attempt to engage consumers. Continue reading...

The Guardian·1h ago2 outlets

Britain’s housing crisis won’t be fixed without a new tax landscape

We need policies that stop treating property as a store of wealth and that allow people to move home cheaply John Healey’s critics on the right and left accused him of dodging the big questions in his first budget . The chancellor failed to announce reforms that might tackle some of Britain’s chronic problems, they say. Healey’s scatter-gun budget, as the Resolution Foundation called it, was more about politics than economics, and unapologetically so. Continue reading...

The Guardian·2h ago

UK charity shop profits plummet amid shift in secondhand clothes market

British Heart Foundation describes ‘exceptionally challenging’ trading after Oxfam’s retail profit reportedly fell 23% amid rise of platforms such as Vinted Profits at some of the UK’s best-known charity shops have plummeted as they face a number of pressures, including from online secondhand clothes platforms, prompting claims that a key part of the sector’s fundraising model could be under threat. According to unpublished accounts seen by the Financial Times , Oxfam’s retail profit fell 23% to £4.9m in the last financial year, compared with £6.4m in the previous year. Continue reading...

The Guardian·2h ago2 outlets

A world-first focus on long-term outcomes could transform UK government – or create new spending fights

Tucked away in John Healey’s budget is decision to ringfence preventative projects where future savings outweigh initial cost It merited the briefest of mentions in John Healey’s speech and just one paragraph in the 166-page budget document , but some believe it could revolutionise not just public spending but the very process of government itself: a new focus on long-term outcomes. The idea in the broad sense is very simple. Any spending deemed to be “preventative” – that is, the initial outlay will be more than made up for by future savings – will from now on be ringfenced, meaning it cannot be raided for more immediate needs. Continue reading...